Des Moines, WA 98198

Price: $480,000 ARV: $600k (much higher with DADU build) Beds: 3 Baths: 1 Size: 1,210 Sqft Lot Size: 13,955 Sqft nearly quarter acre) - Room in back for DADU Year Built: 1962 Type: Single-Family Residence — Ranch *Property is under contract and home is occupied so NO UNSCHEDULED DROP-INS!!!* Investor/Contractor Tour: Set for Thursday, May 21st from 11:00a - 2:00p DETAILS A solid 1962 rambler on a nearly quarter-acre lot in Des Moines — light cosmetic rehab, a standout backyard, and a $140K gross spread at asking. Foundation: Slab — Excellent condition Parking: Driveway Zillow/Redfin estimate (as-is): $575,000-580,000 Tax assessed value: $514,000 ARV: $600,000 (much higher with DADU build) Repair Estimate: $15,000 – $45,000 Earnest Money Deposit: $10,000 Expected Close: 07/15/2026 Occupancy: Owner Occupied — No unscheduled visits NUMBERS AT A GLANCE Purchase Price: $460,000 Renovation (mid): $30,000 All-in: $490,000 ARV: $610,000 Gross Spread: ~$120,000 (~20%) For a 1,210 sqft rambler on a large lot in a stable King County submarket, this is a clean, executable number. WHAT YOU'RE BUYING This is a 1962 rambler with good bones, a well-maintained slab foundation, and on an oversized 13,955 sqft lot — a lot size that gives your end buyer genuine outdoor living space, separation from neighbors, and long-term hold appeal or the space can be utilized to add a DADU for extra rental income. Interior walkthrough reveals: • Hardwood floors in living and dining areas — refinish candidate, not replacements • Original galley kitchen with functional layout — cosmetic modernization opportunity (cabinets, countertops, appliances, flooring) • Wood-burning fireplace insert in the living room — updated insert already in place, a genuine selling feature in the Pacific Northwest • Three bedrooms with carpet — paint, carpet, and trim refresh throughout • Single full bath — tile, vanity, and fixture update will bring it current • Laundry area with washer/dryer hookups The heavy-lift mechanical and structural concerns are not present here. Foundation is rated excellent, furnace is in place, the structure is sound. This is paint-and-finishes work with a kitchen and bath refresh. THE BACKYARD IS A HIDDEN ASSET The nearly quarter-acre lot features: • Mature landscaping with established trees and privacy screening• Dedicated garden beds and planting areas • Detached shed structure• Concrete patio area off the back of the home • Open lawn space — a rare commodity in King County at this price point End buyers in Des Moines at the $600K price point are comparing against townhomes and smaller lots. A renovated ranch with a yard this size will stand out at listing. Property is owner occupied — NO unscheduled site visits. Contact us directly to confirm your attendance for Thursday/tomorrow's investor walkthrough from 11:00a - 2:00p. Sold as-is. No warranties or representations. Proof of funds or pre-approval required for serious inquiries. EMD: $10,000 Expected close: 07/15/2026