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13433 Boulder Ridge Rd SE
Monroe, WA

13433 Boulder Ridge Rd SE

$674,000
3 bd • 3 ba • 1,792 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

$674,000

Price/Sq.Ft

$376

Year Built

AI Property Analysis

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

The Good

The property at 13433 Boulder Ridge Rd SE, Monroe, WA 98272 offers several positive aspects. At $376.12/sqft, it's priced approximately 15% below the Monroe average of $442/sqft for similar homes, representing good value. The 1,792 sqft layout with 3 bedrooms and 3 bathrooms is well-suited for families or those needing extra space, offering 12% more square footage than the average 3-bedroom home in the area (1,600 sqft). The location in Boulder Ridge suggests a suburban setting with good tree coverage, potentially offering privacy and a connection to nature. The two-car garage provides ample parking, which is a valuable feature in an area where personal vehicles are common due to limited public transportation. Based on the median income of $101,637 in Monroe, this property is reasonably affordable for the local market, with a price-to-income ratio of 6.63, slightly below the national average of 7.

The Bad

The property lacks detailed information about its features and systems, which raises concerns about potential hidden issues or needed upgrades. The absence of a build year is particularly problematic, as it makes it difficult to assess the home's age-related maintenance needs and potential code compliance issues. The front yard appears to be primarily grass with minimal landscaping, which may require additional investment for curb appeal enhancement. The driveway and sidewalk show signs of wear, suggesting potential near-term repair or replacement costs. Without information on recent upgrades or the condition of major systems (HVAC, roof, plumbing), buyers should anticipate potentially significant maintenance expenses in the short to medium term.

The Ugly

The property's location in Monroe comes with some significant drawbacks. Traffic congestion on US-2 can lead to lengthy commute times to major employment centers like Everett and Bellevue, potentially exceeding 1-1.5 hours during peak times. This could negatively impact quality of life and property value appreciation. Monroe's rapid growth (population increased by 25% between 2010 and 2020) is putting strain on local infrastructure and services, which could lead to increased property taxes and reduced quality of life in the short term. The area may be subject to flood risks, especially properties near the Skykomish River. Without specific flood zone information for this property, potential buyers should be prepared for possible flood insurance requirements, which could add $800-$1,200 annually to ownership costs. The lack of extensive public transportation options in Monroe means high reliance on personal vehicles, leading to increased transportation costs and potential future challenges if gas prices rise significantly.

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 best suited for families or individuals with a household income of $100,000-$120,000, based on conventional mortgage qualification standards (28% front-end ratio). It's ideal for those who value a suburban lifestyle with easy access to outdoor recreation, as Monroe is close to the Cascade Mountains. The 3-bedroom, 3-bathroom layout works well for growing families or those who need space for a home office. Investors looking for long-term appreciation potential may also find this property attractive, given Monroe's strong population growth and the property's current below-market price point. The home would suit those who prefer driving, as the two-car garage and driveway provide ample parking in an area where car ownership is necessary.

Not For

This property is not suitable for buyers seeking a low-maintenance, move-in ready home, as the lack of information on features and systems suggests potential immediate repair needs. It's not ideal for those with a household income below $90,000, as they may struggle with the monthly payments and potential maintenance costs. Commuters who need to be in Seattle, Bellevue, or Everett daily would face challenging travel times, making this less suitable for those who prioritize a short commute. The suburban setting and potential lack of walkable amenities make it unsuitable for buyers seeking an urban lifestyle with easy access to restaurants, shopping, and entertainment. Those with mobility issues may find the two-story layout challenging, especially without information about the location of bedrooms or the presence of a first-floor master suite.
Demographics
Area Median Income

$101,637

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Risk Assessment

Risk Analysis

Several risks and potential issues warrant careful consideration. The unknown build year poses a significant risk, as older homes may have outdated electrical systems, plumbing, or structural issues that could be costly to address. Monroe's rapid growth could lead to overbuilding and potential market saturation, which might impact future appreciation. The area's reliance on well water and septic systems in some locations could mean expensive upgrades or maintenance if this property uses these systems. Climate change impacts, including increased flooding risks and potential wildfire threats due to proximity to forested areas, could affect insurance costs and long-term property value. The lack of diverse public transportation options leaves homeowners vulnerable to rising fuel costs and potential changes in work-from-home policies that could impact commute feasibility. Zoning changes or new developments in the area could alter the neighborhood character and potentially impact property values, either positively or negatively.

Financials

Monthly Costs

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$455,317

-32.4% below list price

Median Price

$359,950

Based on 6 recent sales

Price per Sq.Ft

$262

Comparable Properties

16948 Lookout Mountain Road SE, Monroe, WA 98272
Price: $690,000
Sq.Ft: 1,707
Beds/Baths: 3/3
$/Sq.Ft:
$4047.5%
Sale Date: 10/17/2024
16559 White Mountain Road SE, Monroe, WA 98272
Price: $353,000
Sq.Ft: 1,806
Beds/Baths: 3/3
$/Sq.Ft:
$19548.0%
Sale Date: 9/6/2024
13009 Phillips Ridge Road SE, Monroe, WA 98272
Price: $339,950
Sq.Ft: 1,759
Beds/Baths: 3/3
$/Sq.Ft:
$19348.6%
Sale Date: 9/6/2024
16982 Lookout Mountain Road, Monroe, WA 98272
Price: $345,000
Sq.Ft: 1,737
Beds/Baths: 3/3
$/Sq.Ft:
$19947.2%
Sale Date: 9/6/2024
13535 Summit Avenue SE, Monroe, WA 98272
Price: $359,950
Sq.Ft: 1,848
Beds/Baths: 3/3
$/Sq.Ft:
$19548.2%
Sale Date: 9/6/2024
13467 Forest View Avenue SE, Monroe, WA 98272
Price: $643,999
Sq.Ft: 1,675
Beds/Baths: 3/3
$/Sq.Ft:
$3842.2%
Sale Date: 9/13/2024

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