masterkey logo
1332 SW 114th Street
Seattle, WA

1332 SW 114th Street

$750,000
4 bd • 3 ba • 1,974 sf

This analysis was generated by artificial intelligence on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

List Price

$750,000

Price/Sq.Ft

$380

Year Built

1957

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

This extensively renovated 4-bedroom, 3-bath rambler offers exceptional value at $379.94/sqft, which is approximately 15% below the Seattle average of $446/sqft for similar properties. The 2023 effective build year due to comprehensive updates adds significant value, essentially providing a new home at a fraction of new construction costs. Key upgrades include new electrical and plumbing systems, roof, siding, and hardwood floors, estimated at $100,000+ in improvements. The property's size (1,974 sqft) is about 10% larger than the Seattle average (1,800 sqft) for similar homes. Its location, just two blocks from schools, enhances its appeal for families. The large concrete driveway for RV/boat parking is a rare amenity in Seattle, potentially adding $20,000-$30,000 in value. Climate risk scores are exceptionally low, with minimal flood (1/10), fire (1/10), and wind (1/10) risks, potentially reducing insurance costs by 10-15% compared to higher-risk properties.

The Bad

While the home has been extensively renovated, its original 1957 construction may still present some challenges. The lot size is not specified, which could be a concern in a city where land value is a significant component of property worth. The property has been on the market for 38 days, slightly above the Seattle average of 30 days, suggesting potential pricing or market positioning issues. The nearby schools (Cascade Middle School and Evergreen High) have low ratings (3/10), which may impact long-term value appreciation. The air quality risk is major (6/10), with 8 bad air days per year, which could be a health concern for some buyers and potentially impact outdoor enjoyment of the property.

The Ugly

The property's price history shows extreme volatility, with a 361.5% increase from its last sale price of $162,500 in 2004 to the current listing of $750,000. This dramatic appreciation, while beneficial for the seller, raises questions about market sustainability and potential for a correction. The estimated insurance cost of $2,700/year is relatively high, possibly due to the property's age and recent extensive renovations. The heat risk, while moderate (3/10), indicates 7 hot days per year with temperatures reaching 86°F, which may necessitate investment in cooling systems. The property's location in Seattle, known for its competitive market and high prices, could lead to challenges in future resale or refinancing if market conditions change.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

This property is ideal for families with school-age children, given its 4-bedroom layout and proximity to schools. With a price of $750,000, it's best suited for buyers with household incomes of $180,000+ (based on a 28% front-end ratio). The extensive renovations make it perfect for those seeking a move-in ready home without the hassle of updates. Investors could also benefit, with potential rental income of $3,446/month for a 4-bedroom in the area, yielding a gross rent multiplier of 18, which is favorable for Seattle. The property's size and features make it suitable for multi-generational families or those needing home office space. The large driveway appeals to RV or boat owners, a unique feature in the Seattle market.

Not For

This property is not suitable for first-time homebuyers or those with limited budgets, given its $750,000 price tag. Buyers seeking historic charm might be disappointed by the extensive modern renovations. It's not ideal for those prioritizing top-rated schools, given the low ratings of nearby institutions. The property may not suit buyers with severe respiratory issues due to the high air quality risk. Investors looking for immediate high cash flow might find the price point challenging for positive cash flow in the short term. Those seeking a smaller, low-maintenance property or desiring a more urban, walkable environment would likely find this suburban-style home less appealing.
Demographics
Area Median Income

$91,667

Price Prediction Challenge

Think you know what 1332 SW 114th Street will sell for? Put your market expertise to the test!

Be the first to predict

Your local insight could help set the benchmark for other buyers.

No predictions yet

Kick off the challenge by making your guess. You'll help other buyers get a feel for this property’s value—and you might just claim the top spot when it sells.

Unlock Premium Features

Supercharge Your Property Analysis

Get unlimited AI-powered insights and analysis to make confident decisions about any property you're interested in.

Best for serious buyers
  • Unlimited AI analysis
  • Unlimited AI chat
  • Advanced tools & insights
$24.92/mo
Billed yearlySave 17% ($60/year)
Cancel anytime • 30-day money-back guarantee

Risk Assessment

Climate Risks

airMAJOR

8 bad air quality days per year

heatMODERATE

7 extreme heat days per year

98th percentile: 86°F

floodMINIMAL

FEMA Zone: X_UNSHADED

Insurance: Optional

fireMINIMAL

Insurance: Optional

windMINIMAL

Insurance: Optional

Risk Analysis

The extreme price appreciation (361.5% since 2004) poses a risk of market correction or stagnation. While the home has been extensively renovated, its 1957 original construction may hide unforeseen issues not addressed in the remodel. The high air quality risk (6/10) could lead to increased health concerns and potential future regulations affecting property use or value. The moderate heat risk (3/10) may necessitate future cooling system installations, estimated at $5,000-$10,000 for central air. The low school ratings (3/10) could impact long-term property value appreciation, potentially by 5-10% compared to areas with higher-rated schools. The high insurance cost ($2,700/year) might increase further due to the property's age and renovation history. Seattle's competitive market could lead to challenges in future resale, especially if tech industry growth slows, potentially impacting property values by 10-15%.
Insurance
Annual Cost

$2,700

$225 per month

Financials

Monthly Costs

Price History

Property Taxes

$7,273
2023 Tax Assessment
48.3%from previous year
Assessed Value$596,000
Tax Rate1.22%

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$730,000

-2.7% below list price

Median Price

$740,000

Based on 6 recent sales

Price per Sq.Ft

$371

Comparable Properties

12115 10th Avenue SW, Seattle, WA 98146
Price: $860,000
Sq.Ft: 2,160
Beds/Baths: 4/3
$/Sq.Ft:
$3984.8%
Sale Date: 11/6/2024
11429 5th Avenue SW, Seattle, WA 98146
Price: $740,000
Sq.Ft: 1,730
Beds/Baths: 3/3
$/Sq.Ft:
$42812.6%
Sale Date: 11/9/2024
1406 SW 126th Street, Burien, WA 98146
Price: $1,150,000
Sq.Ft: 2,210
Beds/Baths: 3/3
$/Sq.Ft:
$52037.0%
Sale Date: 10/31/2024
10616 12th Avenue SW, Seattle, WA 98146
Price: $500,000
Sq.Ft: 2,030
Beds/Baths: 5/3
$/Sq.Ft:
$24635.2%
Sale Date: 8/31/2024
11856 Occidental Avenue S, Burien, WA 98168
Price: $593,000
Sq.Ft: 1,960
Beds/Baths: 4/3
$/Sq.Ft:
$30320.4%
Sale Date: 8/23/2024
846 SW 125th Street, Seattle, WA 98146
Price: $537,000
Sq.Ft: 1,630
Beds/Baths: 3/3
$/Sq.Ft:
$32913.3%
Sale Date: 10/10/2024

Frequently Asked Questions

Property Discussion

Start the Conversation

Share your insights on this property—did you visit the open house? Know of any hidden pros or cons? Your street-level knowledge could be exactly what another buyer needs.

You
Potential Savings

$22,500

Analyze Any Property for Free

Get instant insights and potential savings on any Zillow® listing.

Free Analysis
AI-Powered Insights
Instant Results