Special Report · Deep-Dive Dossier
3411 NW 67th St
Seattle, WA 98117 · Loyal Heights · MLS# 2513839 · ZPID 49064113
$1,749,000
$627 / sqft (2,790 GLA basis) · MLS 2513839 · NWMLS active
5 bd · 2 ba · 2,790 sqft total · ~5,000 sqft lot (est.) · built 1938
This is the deep-dive companion to the standard Scenario card — built from a 23-page V.I. Inspections pre-inspection (April 29, 2026), a 1-page sewer scope, and a 21-page / ~126-photo deck. Companion narrative report with the full inspection cost translation lives at 3411-NW-67th-inspection-and-reno.md.
Inspection client of record was Jesse Franklin IV / Catherine Franklin — a separate prospective buyer, not Peter. Same competitive-comparable signal as the 7007 26th Ave NW dossier: another bidder paid for the inspection, and the report is being read here as reusable diligence.
📌 Peter's target scope (May 2026): NOT the selective-deferred-maintenance baseline — Peter wants to pop the roof for better 2nd-floor height, add a primary suite, target 3,200 sqft total. That reframes reno P50 from $215K → $875K and ARV P50 from $1.75M → $2.20M. Jump to P90 scope analysis →
What's in this dossier
- ⭐ Peter's Target Scope — P90 Reno (Pop Roof + Primary + 3,200 sqft)
- Property Fundamentals — Zillow + inspection-confirmed specs side by side
- Listing & Market Data — list price, comp anchoring, ARV bands
- Visual Record — inspection deck samples (exterior, interior, mechanicals)
- Permit History — TODO: King County / SDCI not yet pulled
- Land Use, Historic, Neighborhood Context
- Inspection Read & Cost Translation — selective-reno baseline ($215K P50)
- Sewer Scope Translation
- Red Flags & Upside Indicators
- Bid / No-Bid Framework — both selective-reno and P90 paths
- Comparison vs. 3244 and 7007
- Buyer Action Items
- Sources
⭐ Peter's Target Scope — P90 Reno (Pop the Roof + Primary Suite + 3,200 sqft)
This section reframes the deal based on Peter's stated scope intent (May 2026): pop the roof for better 2nd-floor height, add a primary suite, target 3,200 sqft total. This is NOT the selective-reno baseline below. The selective-reno analysis (§6 Inspection Cost Translation, $215K P50) is preserved as a fallback comparison; this section is the new headline.
Scope summary
- Demo the entire roof and raise 2nd-floor knee walls from current ~3–4 ft (Cape Cod cramped) to full 8–9 ft. Re-frame the upper story.
- Expand or replace dormers — likely a full-width shed dormer across the back; full-height ceilings (Peter's "9 ft+" preference).
- Add ~410 sqft of living area — 2,790 → 3,200 sqft total; above-grade goes ~2,200 → ~2,610 sqft (gain comes from full-height conversion of cramped 2nd floor).
- Primary suite on 2nd floor — 5-piece ensuite + walk-in closet (Peter's strongest preference).
- 3rd bathroom — resolves Peter's "2.5+ baths" preference miss (likely kid bath upstairs + primary ensuite + main floor bath retained).
- Energy code cascade — wall insulation R-15, attic R-49, window U-factor, ventilation. Triggered automatically by the permit. ~$30–60K.
- All Tier 1 from selective-reno scope — drain repipe, asbestos, sewer, partial rewire, foundation seismic, oil tank, brick mortar — still required.
- Mechanical extensions — new ductwork for new 2nd-floor layout, A/C add (wall open anyway), refresh interior finishes.
Brick-veneer is the unique risk factor for 3411 in this scope. Existing brick is non-structural (veneer over wood frame) but ties into the 2nd-floor wall plate. Raising those walls likely means: (a) preserve existing brick footprint + pop only the roof + upper portion above the brick line (cleanest, lowest risk), OR (b) remove some upper brick + replace with siding (changes character), OR (c) full brick rebuild at new height (expensive and slow). Architect's first decision.
Updated reno bottom-up totals (P90 scope)
| Confidence | Reno Cost | Includes |
|---|---|---|
| P25 (best case) | $525,000 | Roof pop limited to dormer expansion (no full reframe), brick preserved cleanly, primary suite straightforward, no surprises |
| P50 (most likely) | $875,000 | Full 2nd-floor raise + new roof + dormer + primary suite + 3rd bath + energy code + 12 mo carry — clean execution |
| P75 (some surprises) | $1,100,000 | + brick partial rebuild + extended carry + higher-end finishes + foundation surprises |
| P90 (multiple surprises) | $1,350,000 | + structural surprises during demo + extensive brick rebuild + extended timeline + premium finishes |
3411 P90-scope P50 ($875K) is ~25% above 3244's gut-reno P50 ($705K) — but you start with renovated kitchen + modern systems (saves ~$200K of duplicate spend) and the structural roof pop adds ~$300–400K of scope that 3244 doesn't carry. Net: similar order of magnitude, different shape of spend.
Updated ARV bands — 3,200 sqft with primary suite
| Approach | $/sqft | × 3,200 | Adjustments | = ARV |
|---|---|---|---|---|
| Cohort 1A median × 3,200 | $657 | $2,102,000 | 0 | $2,100,000 |
| Cohort 1A P75 (quality reno) | $684 | $2,189,000 | +$50K brick durability | $2,240,000 |
| Best-in-class period reno (3035 NW 71st @ $686 × 2,826) | $686 | $2,195,000 | +$80K primary suite premium | $2,275,000 |
| Cohort 2 new-build median (if hits new-build quality) | $631 | $2,019,000 | +$120K period character + larger primary | $2,140,000 |
| Stretch — 3501 NW 67th $/sqft minus view premium | ~$720 | $2,304,000 | 0 | $2,300,000 |
| Confidence | ARV (P90 finish, 3,200 sqft) |
|---|---|
| P25 (conservative) | $2,000,000 |
| P50 (most likely) | $2,200,000 |
| P75 (optimistic) | $2,350,000 |
| P90 (near new-build crossover) | $2,500,000 |
Updated bid math — P90 scope
| Scenario | Acquire | Reno P50 | Closing | Carry | All-in | vs. ARV P50 ($2.2M) | Day-1 |
|---|---|---|---|---|---|---|---|
| Bid at list ($1.749M) | $1,749,000 | $875,000 | $44,000 | $125,000 | $2,793,000 | $2,200,000 | −$593,000 |
| Bid $1.65M (probable winning) | $1,650,000 | $875,000 | $41,000 | $125,000 | $2,691,000 | $2,200,000 | −$491,000 |
| Live-in-it cap $1.55M | $1,550,000 | $875,000 | $39,000 | $125,000 | $2,589,000 | $2,200,000 | −$389,000 |
| ROI-disciplined cap $1.40M | $1,400,000 | $875,000 | $35,000 | $125,000 | $2,435,000 | $2,200,000 | −$235,000 |
| Bid $1.30M (near break-even P50) | $1,300,000 | $875,000 | $33,000 | $125,000 | $2,333,000 | $2,200,000 | −$133,000 |
| Bid $1.20M (true break-even) | $1,200,000 | $875,000 | $30,000 | $125,000 | $2,230,000 | $2,200,000 | −$30,000 |
Updated bid recommendation:
- ROI-disciplined cap: $1,300,000–$1,400,000. At list, you're $500–600K underwater day-1. The seller is asking $1.749M for a $1.30M as-is property + $400K of pre-priced renovation premium that you're going to demo anyway.
- Live-in-it cap: $1,500,000–$1,550,000. All-in $2.5–$2.6M for a 7–15 yr family home in Loyal Heights core. Cost of housing per year vs. renting amortizes the negative day-1 spread (~$1.0–1.1M of avoided rent over 10 yrs closes much of the gap).
- At current $1.749M ask: walk OR negotiate aggressively to $1.55M with a 21-day inspection contingency.
Updated 3411-vs-3244 comparison under P90 scope
Under P90 scope the two properties are now economically comparable. 3411's day-1 marginal at cap (−$338K with $1.50M cap) is slightly less negative than 3244's (−$366K), AND you end up with a bigger house with primary suite + 3rd bath in Loyal Heights core (Peter's #1).
| Metric | 3244 (gut reno) | 3411 (P90 pop) |
|---|---|---|
| Acquisition (recommended cap) | $1,425,000 | $1,500,000 |
| Reno P50 | $705,000 | $875,000 |
| Carry | $50,000 | $125,000 |
| All-in | $2,216,000 | $2,538,000 |
| Post-reno sqft | 2,710 | 3,200 (+18%) |
| Primary suite | Possible (no addition planned) | Yes (target spec) |
| 3rd bath | Possible | Yes (target spec) |
| ARV P50 | $1,850,000 | $2,200,000 |
| Day-1 marginal at cap | −$366,000 | −$338,000 |
| Lot upside / DADU | High (8,100 NR3) | Low (~5,000 NR3) |
| Loyal Heights core | Sunset Hill border | Yes |
| Year built | 1904 (more hazmat surprises) | 1938 (less) |
| Starting systems baseline | None | Panel, furnace, WH, kitchen, hardwoods |
One-line verdict under P90 scope: 3411 becomes the better target than 3244 — roughly the same total dollars, bigger house with primary suite and a 3rd bath, Loyal Heights core, meaningfully better starting systems baseline. The only thing 3244 still wins on is lot + DADU optionality — which matters for ROI but not for "this is our family home for 10+ years."
What the P90 scope unlocks (vs. selective-reno path)
| Feature | Selective P50 ($215K) | P90 scope ($875K) |
|---|---|---|
| Bedrooms | 5 (incl. non-egress basement) | 4 above-grade + 1 legal-egress basement = 5 legal |
| Bathrooms | 2 (Peter's pref miss) | 3 (resolved) |
| Above-grade sqft | 2,200 | ~2,610 |
| Total sqft | 2,790 | 3,200 |
| Primary suite | None | 5-piece ensuite + walk-in |
| 2nd-floor ceiling height | ~7 ft cramped | 8–9 ft full-height |
| Modern systems | Existing | Preserved + extended |
| Renovated kitchen | Existing | Preserved (optional appliance refresh $12K) |
| Energy efficiency | Mediocre (1938 envelope) | Code-current (R-15 walls, R-49 attic, double-pane) |
This is the path to a "Scenario A turnkey home" outcome built on a "Scenario C purchase price" foundation — if Peter accepts the 12–18 mo reno timeline and the $875K capital deployment. The companion narrative report (§7-bis) carries the full line-item cost build-up.
1 · Property Fundamentals
| Field | Value | Source |
|---|---|---|
| Year built | 1938 (per inspection "Estimated Age") | V.I. Inspections, Zillow |
| Style | Brick-veneer Cape Cod / English Tudor period | Photos + inspection |
| Stories | 2 + basement | Inspection |
| Total GLA (Zillow) | 2,790 sqft | Zillow zpid 49064113 |
| Above-grade GLA (estimated) | ~2,200 sqft | Inferred from inspection (4 bedrooms upstairs/main; basement bedroom + laundry) |
| Basement | Finished bonus + bedroom + laundry; ~590 sqft estimated | Inspection + photos |
| Bedrooms | 5 (1 main + 3 second-floor + 1 basement non-egress) | Inspection |
| Bathrooms | 2.0 (1 first-floor hall + 1 second-floor hall) | Inspection |
| Heat / furnace | Forced-air gas · American Standard S8X1B060M4PSCCA, 60K BTU, 0–5 yrs old (serial decodes to 2025) | Inspection |
| Water heater | Bradford-White RG250L6N, natural gas, 48 gal, 0–5 yrs | Inspection |
| Electrical service | 200A Cutler-Hammer panel · copper service · breakers · AFCI · panel bonded | Inspection |
| Branch wiring | Mixed armored cable + NM sheathed; sections of original ungrounded armored cable remain | Inspection |
| Plumbing supply | Copper service line; copper + PEX branches | Inspection |
| Plumbing drain | Cast iron + galvanized + ABS (mixed); cast iron rusted-through (sealed itself); lead toilet bend nearing EOL | Inspection |
| Roof | N half asphalt shingle 0–5 yrs; S half 15–20 yrs (latter third of life) | Inspection |
| Foundation | Poured concrete (basement); not retrofitted for earthquakes | Inspection |
| Garage | Detached, 1-car, cedar lap siding | Inspection |
| Fireplace | 1 brick gas-log (Living Room) | Inspection |
| Lot size | ~5,000 sqft (estimated, typical Sunset Hill plat) | Inferred — King County Assessor not yet pulled |
| Zoning | NR3 (very likely) | Inferred — 98117 Loyal Heights tier; verify via Seattle OPCD |
| Sewer / water | Public sewer · public water (per inspection MLS verification) | Inspection |
| Sewer lateral | 128 ft total; 4" cast iron at cleanout → 4" concrete to 116 ft → 6" concrete to main; hole at 21 ft + roots at 111 ft | Sewer scope (April 2026) |
| 2026 assessed value | Not yet pulled (TODO — King County Assessor) | — |
| Estimated 2026 property tax | ~$11–14K/yr (estimated from cohort; not verified) | — |
Renovation status — what's already done vs. what remains
Already done (visible in photos / confirmed by inspection):
- 200A Cutler-Hammer breaker panel · copper service
- 0–5 yr American Standard 60K BTU forced-air gas furnace
- 0–5 yr Bradford-White 48-gal gas water heater
- Copper + PEX water supply (no galvanized supply repipe needed)
- Mid-tier kitchen reno: stone counters, Dacor + Kitchenaid appliances (2nd half of life), Zephyr ventilator, Samsung dishwasher with air gap, wood cabinets, hardwood floors
- Refinished hardwood floors throughout main + bedrooms
- N half of roof recently replaced (0–5 yrs)
- Basement bedroom finished as bonus / guest space (recessed lights, fresh paint, staged)
- Programmable thermostat
- Smoke + CO detectors absent — needs install (DEFECTIVE)
Tier 1 work remaining (Code / Lender / Insurer / Hazmat):
- Drain-pipe replacement (cast iron rusted-through; lead toilet bend) → ABS — $12K P50
- Asbestos abatement (heat-duct register junctions × 3 bedrooms confirmed visible + N attic tape) — $7.5K P50
- Sewer spot repair @ 21 ft + hydrojet roots — $11.5K P50 (probability-weighted)
- Selective rewire — replace remaining ungrounded armored cable, install grounding bond, replace corroded armored cable W of panel — $18K P50
- Smoke/CO detectors throughout + GFCI on 2nd-floor hall bath + bring 3-prong outlets to grounded — $3.5K P50
- Foundation seismic retrofit (1938 = pre-1976) — $9K P50
- Oil tank decommissioning cert + soil test (abandoned oil lines visible in basement) — $3K P50
- S-half re-roof (chimney crown rebuild bundled) — $13K P50
- Brick mortar repointing + weep holes (upper S side) — $8K P50
- Stairwell handrails + balusters (safety code) — $3K P50
Full itemized table with all 25+ line items + soft costs + carry costs lives in the companion narrative report (§2).
2 · Listing & Market Data
Sale history
| Date | Event | Price | $/sqft | Source |
|---|---|---|---|---|
| Apr/May 2026 | Listed (Active) — NWMLS #2513839 | $1,749,000 | $627 | Zillow / Redfin (verified) |
| — | Prior sale history not pulled (TODO via Zillow interactive scrape or NWMLS via agent) | — | — | — |
Listing posture is renovated-period-home pricing, not fixer pricing. $627/sqft on 2,790 GLA puts 3411 squarely at the median of the renovated 1910s–1930s Loyal Heights cohort (Cohort 1 in-priority median is $657/sqft). Compare to 3244's $515/sqft on its 2,710 GLA basis — that's a fixer pricing posture. The seller knows what they have and is not leaving renovation premium on the table.
Comp-anchored ARV bands
| Approach | $/sqft basis | × 2,790 | Adjustments | = ARV |
|---|---|---|---|---|
| Cohort 1A in-priority median | $657 | $1,833,000 | 0 | $1,830,000 |
| Cohort 1 combined median | $617 | $1,721,000 | 0 | $1,720,000 |
| Recent agent-comp median (renovated period 2,500–2,800) | $605 | $1,688,000 | +$30K brick durability | $1,720,000 |
| Cohort 1A P75 — best-case selective reno finish | $684 | $1,908,000 | 0 | $1,910,000 |
P25 / P50 / P75 / P90 ARV bands:
- P25 (conservative): ~$1.65M — selective reno completed, market softens 5%
- P50 (most likely): ~$1.75M — true selective reno finished; basically at the current ask
- P75 (optimistic): ~$1.85M — reno + add a 3rd bath + primary-suite-grade upgrade
- P90 (stretch): ~$1.95M — major reconfiguration, addition, near-7007-grade turnkey ceiling
As-is value (Cohort 3 anchor)
Applying Cohort 3 (unrenovated/cosmetic-only) median $/sqft of $414 to 2,790 sqft = $1,156,000. Adjust UP $200K for already-done kitchen + modern panel + new HVAC + new WH + refinished hardwoods → implied as-is value $1.30M–$1.40M. The $1,749,000 list captures $350K–$450K of pre-priced renovation premium for the work that has been done. (For contrast: 3244's list captures only $150K–$300K of renovation pre-pricing on a fully-unrenovated home.)
3 · Visual Record — Inspection Photo Deck Samples
Sampled across 9 strategic pages of the V.I. Inspections 21-page album. Click any image to open the full-size page render.
Hero / front exterior + lots-and-grounds
Garage + outbuildings
Interior (staged)
Hazmat & mechanicals
Net visual read: the photos confirm the inspection is honest about both the renovated work that was done AND the deferred maintenance that wasn't. No new major findings the inspection missed; conversely, no hidden gem surprises. Home is exactly what the listing implies — a mid-tier-renovated 1938 Cape Cod with selective work remaining.
4 · Permit History
TODO before bid. SDCI permit history not yet pulled. The inspection's confirmed system upgrades (200A panel, new gas furnace 2025-vintage, new water heater, kitchen reno) should all have permits — verify via Seattle Services Portal. Also pull King County eReal Property for parcel detail, lot size, and assessed values.
Confirmed-but-unverified upgrades (likely permitted)
-
~2025 — Gas furnace install (American Standard 60K BTU)
Serial
25122R9SHGdecodes to 2025 manufacture (week 25). Should have an SDCI furnace permit. Verify -
~2025 — Water heater install (Bradford-White RG250L6N)
Serial
YH50177309— recent install. Possible permit (Seattle requires for gas appliance). Verify - Unknown date — 200A service / panel upgrade Cutler-Hammer 200A panel with breakers + AFCI. Service upgrade from prior amperage requires SDCI electrical permit. Verify
- Unknown — Kitchen renovation Stone counters, current appliances, refinished hardwoods. May or may not have been permitted depending on scope. Verify
- ~2024–25 — N-half roof replacement Inspector states "0–5 years" on N half. Roof permits in Seattle are common but not always pulled. Verify
- Unknown — Original 1938 build, oil heat → forced air gas conversion at unknown date Abandoned oil tank lines in basement indicate past oil heat. Tank decommissioning may or may not have been permitted/certified. Pre-bid hard precondition. Verify
If permits are missing for the major upgrades (panel, furnace, kitchen), this becomes a real insurance + lender + resale risk and supports a $25–50K bid discount at the negotiation stage.
5 · Land Use, Historic, and Neighborhood Context
Zoning: NR3 (very likely)
98117 Loyal Heights / Sunset Hill core is overwhelmingly NR3 (Neighborhood Residential 3, formerly SF 5000). Up to 2 ADUs allowed per lot, 5-ft side & rear setbacks, no minimum off-street parking, no minimum lot size. Verify via Seattle OPCD zoning lookup.
If lot is ~5,000 sqft as estimated (typical Sunset Hill plat), DADU placement is constrained but not impossible. Less attractive than 3244's 8,100 sqft NR3 lot for DADU optionality.
Historic / landmark status
- Likely NOT a Seattle landmark — verify via Seattle DON Historical Sites database. 1938 Cape Cod / Tudor-period homes are rarely landmarked individually in Loyal Heights.
- Likely NOT in a historic district — Loyal Heights is not designated.
- WISAARD state-level lookup recommended pre-offer.
Neighborhood
- Loyal Heights core — Peter's stated #1 preferred neighborhood per the search criteria.
- Loyal Heights Elementary feeder.
- Walkable to Loyal Heights Community Center (~2-3 blocks).
- 32nd Ave NW commercial strip ~5-6 blocks east.
- NW 67th St is a residential local street — not on the excluded-arterials list.
- Same micro-market as 3244 NW 64th St — 3 blocks south. Same comp set applies.
6 · Inspection Read & Cost Translation
Severity at a glance
| Tier | Count | Description |
|---|---|---|
| Acceptable (clean) | ~80% | Foundation, panel, furnace, water heater, water supply, kitchen, hardwoods, N-half roof, copper plumbing branches |
| Marginal | 36 | Selective deferred maintenance: drain repipe, S-half roof, sewer, partial rewire, brick mortar, drainage, foundation seismic, oil tank decommissioning, retaining walls, stairwell handrails, oil tank lines, etc. |
| Defective | 5 | No smoke detectors anywhere; suspected asbestos on heat-duct register junctions × 3 bedrooms + N attic tape |
Reno bottom-up totals
| Confidence | Reno Cost | Logic |
|---|---|---|
| P25 (best case) | $135,000 | Items at low column. Asbestos turns out to be tape-only, oil tank no soil contamination, sewer hydrojet only, brick repointing limited to upper S, no full envelope. |
| P50 (most likely) | $215,000 | All Tier 1 items at median + selective Tier 2 (S-roof, brick, drainage, foundation seismic) + 15% contingency + soft costs + limited carry. No discretionary upgrades. |
| P75 (some surprises) | $320,000 | Adds full 2nd-floor bath reno + 3rd bath + selective windows + larger asbestos scope + soil remediation Tier 1 + larger sewer scope. |
| P90 (multiple surprises) | $450,000 | Adds primary suite addition + foundation pile work + addition for legal-egress 5th bedroom + full sewer to ROW. Effectively reconfigures the home — competing with 7007-grade turnkey. |
Reno scope is 31% of 3244's $705K P50. 3411 is a categorically different deal — selective deferred maintenance, not a gut reno. Most of the work happens behind walls (drain repipe, asbestos abatement, partial rewire, sewer) without disrupting the cosmetic finish layer that's already done.
Full itemized table with all 25+ line items + soft costs + carry costs lives in the companion narrative report (§2).
7 · Sewer Scope Translation
Pipe inventory (basement to main, 128 ft total)
- 0–2 ft: 4" cast iron at cleanout (basement laundry)
- 2–116 ft: 4" concrete
- 116–128 ft: 6" concrete
- 128 ft: city main
Findings
- Hole in bottom of line at 21 ft
- Roots intruding from 111 ft to city main
- Concrete showing moderate wear throughout
- Tech recommends spot repair @ 21 ft + hydrojet roots
- Tech recommends scoping every 1–2 years ongoing
Cost projection — 3411 sewer
| Scenario | Likelihood | Cost band |
|---|---|---|
| Spot repair @ 21 ft + hydrojet only (recommendation) | 60% | $4,000–$8,000 |
| Spot + pipe-bursting middle 50–80 ft (concrete worsens) | 20% | $10,000–$18,000 |
| Full open-cut replacement (lateral, residential portion) | 12% | $20,000–$35,000 |
| Full + ROW segment (city portion fails) | 8% | $30,000–$60,000 |
| Probability-weighted EV | — | ~$11,500 |
| P75 budget line | — | $20,000 |
| P90 budget line | — | $40,000 |
Calibration vs. 7007 and 3244: 3411's sewer is worse than 7007's (HDPE / Permaliner combo, $400 hydrojet only) and better than 3244's (cast iron / Orangeburg / unknown, two repairs in 2.5 years). Concrete pipe is more brittle than HDPE but more durable than cast iron; "moderate wear" signals ongoing attention but not active collapse.
8 · Red Flags & Upside Indicators
Filtered for a buyer evaluating a mid-renovated 1938 Cape Cod. Inspection priorities follow the cost-translation table.
🚩 Red flags
- Asbestos confirmed visible. Heat-duct register junctions × 3 bedrooms + N attic tape. Lab test required pre-bid; budget $7.5K P50, up to $25K P90 for abatement.
- Cast iron drain line rusted-through. Sealed itself shut — but on borrowed time. Lead toilet bend nearing EOL. $12K P50 drain repipe is a near-certainty.
- Concrete sewer pipe with hole + root intrusion. Probability-weighted EV $11.5K, P75 $20K, P90 $40K. Independent re-scope mandatory pre-bid.
- Original ungrounded armored cable in sections. Selective rewire + ground bonding: $18K P50.
- Buried oil tank likely in backyard. Abandoned oil lines in basement → decommissioning cert + soil test required. If contaminated, P75–P90 reno line goes up $5–30K.
- S-half roof in last third of life. N half is 0–5 yrs, S half is 15–20 yrs. Replace within 0–5 yrs. ~$10K P50.
- Brick veneer mortar deterioration + no weep holes. Upper-S-side. Repointing + weep hole install: $8K P50. Brick veneer also requires ongoing repointing every 25–50 yrs.
- Foundation NOT retrofitted for earthquakes. 1938 = pre-1976 = code-required for rebid in seismic zones. $9K P50.
- Basement bedroom not legal egress. Listing claims 5 BR; 1 of 5 (basement) has windows undersized for code. To list as 5BR legally, egress upgrade needed: $7K P50.
- Settling — past, not active. W half settled W; cosmetic cracks throughout. Engineer walkthrough recommended pre-bid to confirm not active.
- List price already prices in renovation premium. $1.749M ask = P50 ARV. No upside via reno; you're buying turnkey condition over time, not value-creating capital.
- Inspection client is competing buyer (Franklin). Time-pressure dynamic — bid window may be short.
✅ Upside indicators
- 200A modern panel. No Zinsco, no K&T per inspection. Saves $25K vs. 3244's panel + rewire scope.
- Recent gas furnace + water heater. Both 0–5 yrs old. American Standard 60K BTU forced-air, Bradford-White 48 gal. Saves $25K vs. 3244's HVAC + WH replacement.
- Renovated kitchen. Stone counters, Dacor + Kitchenaid (mid-tier), wood cabinets, hardwood floors. Saves $70K vs. 3244's needed kitchen reno.
- Refinished hardwoods throughout. Saves $18K vs. 3244's floor refresh.
- Copper + PEX water supply. No galvanized supply repipe needed. Saves $14K vs. 3244's full supply repipe.
- Loyal Heights core. Peter's stated #1 preferred neighborhood. Walkable to Loyal Heights Community Center, Loyal Heights Elementary feeder.
- Time-to-occupancy. Selective work is achievable in 3–6 mo with house occupied for some of it. Compare to 3244's 12–18 mo of demolition.
- 5 BR claim (4 above-grade + 1 basement non-egress). Solid spec for family of 4 even without egress fix.
- Public sewer + utility water. No private system risk.
- Brick veneer construction. Lower fire risk, lower insurance premium, durable exterior cladding (offset by repointing maintenance every 25–50 yrs).
- Detached garage on lot. Off-street parking + workshop optionality.
- Near 3244 NW 64th (3 blocks N) — same comp set, same micro-market, ARV anchored to the same Cohort 1 pull.
9 · Bid / No-Bid Framework
Recommended bid cap: $1,550,000–$1,600,000
| Scenario | Acquire | Reno P50 | Closing | Carry | All-in | vs. ARV P50 | Day-1 marginal |
|---|---|---|---|---|---|---|---|
| Bid at list ($1.749M) | $1,749,000 | $215,000 | $44,000 | $20,000 | $2,028,000 | $1,750,000 | −$278,000 |
| Bid $1.65M (probable winning bid) | $1,650,000 | $215,000 | $41,000 | $20,000 | $1,926,000 | $1,750,000 | −$176,000 |
| Recommended cap $1.60M | $1,600,000 | $215,000 | $40,000 | $20,000 | $1,875,000 | $1,750,000 | −$125,000 |
| Aggressive cap $1.55M | $1,550,000 | $215,000 | $39,000 | $20,000 | $1,824,000 | $1,750,000 | −$74,000 |
| Walk-away | $0 | $0 | $0 | $0 | $0 | — | $0 |
Even at $1.55M cap, day-1 marginal is −$74K vs. P50 ARV. The math only works if Peter (1) values location + character + faster move-in over upside, (2) plans to live-in 7+ yrs to amortize the negative spread, and (3) treats the $215K reno as "buying turnkey over time" rather than "value-creating capital". Bid discipline at $1.55M–$1.60M cap protects against the market correcting downward and against the inspection cost translation running over.
10 · Comparison vs. 3244 NW 64th + 7007 26th Ave NW
| Metric | 3411 NW 67th | 3244 NW 64th | 7007 26th Ave NW |
|---|---|---|---|
| Year built | 1938 | 1904 | 1915 |
| Style | Brick Cape Cod | Wood Craftsman | Wood Craftsman (renovated) |
| Total sqft | 2,790 | 2,710 (post-reno) | 3,780 |
| Beds / Baths | 5 / 2 | 4 / 1.75 | 5 / 4 |
| Lot | ~5,000 | 8,100 | 5,100 |
| Renovation status | Mid-renovated | Pre-renovation | Fully renovated (flipper) |
| List price | $1,749,000 | $1,395,000 | $1,950,998 |
| Reno P50 | $215K | $705K | $35K |
| All-in at recommended cap | $1,875K | $2,216K | n/a (turnkey) |
| ARV P50 | $1,750K | $1,850K | $1,950K |
| Day-1 marginal at cap | −$125K | −$366K | n/a |
| Time to occupancy | 0–3 mo (live-in) | 12–18 mo | 0 (turnkey) |
| Reno risk profile | Low-mid | High | Negligible |
| Lot upside / DADU | Low | High | None (slab) |
| Family-residence quality | High after $215K | Mid (after $700K) | High (now) |
| Recommended bid cap | $1.60M | $1.425M | n/a (not bidding) |
One-line verdict: 3411 is a better primary residence target than 3244 (faster move-in, lower reno risk, modern systems, renovated kitchen) but a worse ROI play (smaller lot, no DADU optionality, ARV ceiling capped at the renovated-period-home cohort with no new-build crossover, asking price already prices in nearly all the renovation upside).
Specific deltas — 3411 vs. 3244
3411 BETTER
- Modern systems (200A panel, new furnace, new WH)
- Renovated kitchen — no $70K kitchen reno needed
- Refinished hardwoods throughout
- No knob-and-tube
- Time-to-occupancy 3–6 mo vs. 12–18
- Newer (1938 vs 1904) — fewer hazmat surprises
- Loyal Heights core (Peter's #1 preference)
3411 WORSE
- Smaller lot (~5,000 vs 8,100)
- No DADU optionality
- Brick veneer requires repointing forever
- Asbestos confirmed visible (3244 has unknown hazmat exposure)
- Higher ask ($1.749M vs $1.395M)
- Lower ARV ceiling ($1.75M vs $1.85M P50)
- Period style mismatch w/ comp cohort (small ARV penalty)
11 · Buyer Action Items
Pre-offer (free / low-cost)
- Pull King County eReal Property for parcel detail, lot size, assessed values
- Pull SDCI permit history — confirm panel, furnace, water heater, kitchen reno are all permitted
- Search Seattle DON Historical Sites database to confirm not landmarked
- WISAARD search at dahp.wa.gov
- Pull Zillow / Redfin sale history for prior transactions and price history
- Order title commitment from Fidelity / First American — check easements, plat covenants, recorded violations, prior side-sewer permits
Inspection contingency must include:
- Independent sewer re-scope — different contractor than the original; verify hole at 21 ft + roots at 111 ft
- Asbestos lab test — pull samples of heat-duct wrap and register-junction tape; get abatement quote in writing
- Oil tank decommissioning cert + soil test — DOE-approved decommissioner; if contaminated, walk OR seller credit
- Engineer walkthrough — past settling (W half) needs structural read; confirm not active
- Lead paint XRF screening — 1938 = pre-1978 = required for any disturbing-paint work
- Independent electrical assessment — full mapping of remaining ungrounded armored cable
- Mold/moisture in basement (paint peeling on lower S laundry wall = past intrusion, dry now — confirm not recurring)
If bidding — escalation strategy
- Open at $1.55M with 14-day inspection contingency + sewer + asbestos + oil-tank conditional
- Escalate up to cap $1.60M; walk above $1.65M
- If competing with the Franklin offer, time-pressure may favor a clean (limited-contingency) bid at $1.60M with a $50K appraisal-gap waiver — worth modeling against pure-cash bidders
- If house goes pending to Franklins and falls through, request first-look at $1.55M-$1.60M before re-listing
12 · Sources & Quick Links
Zillow (ZPID 49064113)
Redfin
Google Maps
KC Parcel Viewer
SDCI Permit Portal
Companion narrative report
Primary documents
- Pre-Inspection Report — V.I. Inspections (Brandal Gehr, WA Lic #247), 23 pages, dated 04/29/2026 — client of record: Jesse Franklin IV / Catherine Franklin
- Sewer Scope Written Report — 1 page, 128-ft lateral, hole at 21 ft + roots at 111 ft; technician unspecified
- Photo Deck — V.I. Inspections "Picture Album," 21 pages × ~6 photos each (~126 photos)
- Listing — Zillow zpid 49064113, NWMLS #2513839, listed at $1,749,000
Calibration documents
- 3244 NW 64th St — Bid Stress Test
- 3244 NW 64th St — Comprehensive Comp Set
- 3244 NW 64th St — Inspection Analysis
- 7007 26th Ave NW — Diligence Read
- Reno Cost Itemization Template (CSV)
- 3244 NW 64th St — Deep-Dive Dossier
Cost benchmarks (Seattle 2026)
- House Plumbing Cost — HomeGuide 2026
- Asbestos Removal Cost Seattle — Angi
- Sewer Line Installation Cost Seattle 2026 — On Pattison
- Trenchless Sewer Repair Seattle — Dirt Cheap Sewer
- Sewer Line Replacement Cost 2026 — HomeGuide
- New Roof Cost Seattle 2026 — GetRoofSmart
- Seismic Retrofitting Seattle — EverGreen Seismic
- Cost to Replace Knob and Tube Wiring — HomeGuide 2026
- Bathroom Remodeling Cost Seattle 2026 — Best Refinishing
What's not yet captured
- King County Assessor parcel detail (lot size, assessed values, year_renovated field) — needs lookup
- SDCI permit history — needs lookup pre-bid
- Sale history (prior transactions, list dates) — Zillow returns only static title metadata; needs interactive scrape or NWMLS via agent
- King County eReal floor plan + accessory inventory
- Aerial / overhead imagery — not captured for this dossier