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9300 21st Avenue NW
Seattle, WA

9300 21st Avenue NW

$2,495,000
4 bd • 4 ba • 2,940 sf

This analysis was generated by artificial intelligence on 1/23/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

List Price

$2,495,000

Price/Sq.Ft

$849

Year Built

1954

AI Property Analysis

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

The Good

This property excels with its stunning 180-degree views of the Olympic Mountains and Puget Sound, a rare feature that significantly enhances its value. The recent studs-out remodel with high-end finishes positions it as a turnkey luxury home. At 2,940 sqft, it's 22% larger than the median Seattle home size of 2,400 sqft. The property boasts top-of-the-line Miele appliances, premium fixtures (Ann Sacks, Victoria + Albert, Hansgrohe), and thoughtful upgrades like a built-in BBQ and hot tub, justifying its $848.64/sqft price, which is 6% above the Seattle average of $800/sqft for luxury homes. Its location in North Beach offers excellent schools, with nearby schools rated 6-7/10. The home's minimal flood (1/10) and fire (1/10) risk scores are significantly better than Seattle averages, potentially lowering insurance costs.

The Bad

The property's price of $2,495,000 is 177% higher than the Seattle median of $900,000, limiting the buyer pool. While the price per square foot is justified by the upgrades, it's still at a premium. The estimated annual insurance cost of $8,982 is about 30% higher than the Seattle average of $6,900, likely due to the high-value upgrades and views. The severe air quality risk (7/10) with 10 bad air days per year is concerning and could impact outdoor enjoyment and potentially long-term health. The moderate heat risk (3/10) with 7 hot days per year may necessitate increased use of the new AC system, potentially raising energy costs.

The Ugly

The property's dramatic 520% price increase since its last sale in 2020 ($402,445 to $2,495,000) raises questions about market stability and potential overvaluation. While this reflects the extensive renovations, it may complicate future appreciation. The home's age (built 1954) means that despite the remodel, some core systems may need attention in the coming decade. The high-end finishes and systems (Miele appliances, marble tiles, smart home features) will require specialized, costly maintenance. The unobstructed views, while a major selling point, are not guaranteed forever and could potentially be impacted by future development, affecting the property's value.

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 high-net-worth individuals or families with annual incomes exceeding $600,000 (based on a 28% DTI ratio). It's perfect for those prioritizing luxury living, panoramic views, and high-end entertaining spaces. The property suits professionals who work from home, given the office space and high-tech cabling. It's also well-suited for empty nesters or retirees looking for a turnkey property with minimal immediate maintenance needs. Investors focused on the luxury short-term rental market could capitalize on the high-end amenities and views, potentially commanding $500-$700 per night based on comparable luxury Airbnb rates in Seattle.

Not For

This property is not suitable for first-time homebuyers or those with household incomes below $600,000 due to the high purchase price and ongoing costs. It's not ideal for large families needing more than 4 bedrooms or those requiring extensive yard space for children or pets. Investors seeking immediate positive cash flow through traditional long-term rentals may find the high purchase price challenging to offset with rental income, even at the upper end of the market ($3,810/month for 4-bedroom homes). Those sensitive to air quality issues should carefully consider the severe air quality risk score.
Demographics
Area Median Income

$146,887

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Risk Assessment

Climate Risks

airSEVERE

10 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 severe air quality risk (7/10) could lead to increased health concerns and potential need for air purification systems. The 520% price increase since 2020 poses a risk of market correction if the luxury segment cools. Future development in the area could potentially obstruct views, significantly impacting property value. The high-end systems and finishes may require costly specialized maintenance and eventual replacement. Climate change could exacerbate air quality and heat risk issues over time. The property's high value may result in above-average property tax increases in the future. Market volatility in the tech sector, a key driver of Seattle's luxury real estate, could impact resale value.
Insurance
Annual Cost

$8,982

$749 per month

Financials

Monthly Costs
Market Rent (4 bed)

$3,810

Get a detailed rental estimate on Zillow®
HOA Fee

$13

Price History

Property Taxes

$15,831
2023 Tax Assessment
1.9%from previous year
Assessed Value$1,668,000
Tax Rate0.95%

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$1,526,167

-38.8% below list price

Median Price

$1,550,000

Based on 6 recent sales

Price per Sq.Ft

$564

Comparable Properties

10527 15th Avenue NW, Seattle, WA 98177
Price: $2,210,000
Sq.Ft: 2,850
Beds/Baths: 4/4
$/Sq.Ft:
$7758.6%
Sale Date: 11/1/2024
301 NW 100th Street, Seattle, WA 98177
Price: $1,265,000
Sq.Ft: 2,590
Beds/Baths: 4/4
$/Sq.Ft:
$48842.4%
Sale Date: 11/9/2024
652 NW 86th Street, Seattle, WA 98117
Price: $1,617,000
Sq.Ft: 2,670
Beds/Baths: 4/4
$/Sq.Ft:
$60628.6%
Sale Date: 10/3/2024
301 NW 100th Street, Seattle, WA 98177
Price: $1,265,000
Sq.Ft: 2,590
Beds/Baths: 4/4
$/Sq.Ft:
$48842.4%
Sale Date: 10/7/2024
349 NW 86TH Street, Seattle, WA 98117
Price: $1,550,000
Sq.Ft: 2,820
Beds/Baths: 4/4
$/Sq.Ft:
$55035.2%
Sale Date: 9/4/2024
9020 4th Avenue NW, Seattle, WA 98117
Price: $1,250,000
Sq.Ft: 2,615
Beds/Baths: 5/4
$/Sq.Ft:
$47843.7%
Sale Date: 9/11/2024

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