620 112th St SE #174 · Everett, WA 98208

$75,000

3 bd · 2.0 ba · 1,430 sqft · Manufactured public records

Manufactured home 55+ age-restricted Built 1978 Good condition $52/sqft · 33% below area Est $112k · 33% under

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +22.5/30.0
• ARV discount +15.0/15.0
• 1% rule +7.5/10.0
• DSCR +7.5/10.0
• Schools +5.9/10.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Appreciation +2.5/10.0
• Rent growth +1.7/5.0
• Manufactured-home adj. -5.6

Listing remarks

Are you searching for a beautifully built, spacious home at an exceptional value? Don’t miss this rare opportunity to own a solid 1978 built residence in the desirable Lago de Plata 55+ community. Enjoy access to community amenities including an outdoor pool, sauna, dog park, and plentiful guest parking. All conveniently located near shopping, dining, and everyday essentials. This home is truly move-in ready, offering comfortable living with the opportunity to add your personal touch and build instant equity with a bit of creativity and TLC. Recent upgrades include energy-efficient double pane windows, helping to reduce monthly PUD costs.

Key facts

• Community pool
• Built 1978

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $75k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Cap rate 23.0% vs local median 2.5% in Everett — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 73/100 on livability (#199 in WA) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A, health & safety A; Watch: crime D+, amenities F, cost of living F.
• Everett School District (urban): math 60% / reading 72% proficiency, ranked #26 of 291 in WA (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Silver Lake Elementary (584 students, 60% FRL); Eisenhower Middle School (880 students, 52% FRL); Cascade High School (1,793 students, 53% FRL) — zoned schools average 55% FRL vs 31% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents falling (-3.2%/yr); 458 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 3,982 units permitted in Snohomish County in 2024 (1,492 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Snohomish County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 11y ago; this cycle's ask has dropped $25k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $42k; list at $75k implies a 81% gain — meaningful room to come down on a strong offer.

Recommended offer $75,000

Questions for the listing agent

1. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.59% ✓
• Cap rate: 22.97%
• Cash-on-cash: 59.55%
• DSCR: 3.65
• GRM: 3.2

CMA / ARV

• ARV (median comp): $112,500
• List price: $75,000
• Delta: -33.33%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
620 112th St SE #227	0.00mi	3/2.0	1,404 (-2%)	7mo	$108,000	$77	91
11622 Silver Lake Rd #54	0.28mi	3/2.0	1,440 (+1%)	1mo	$60,000	$42	85
620 112th St SE #181	0.00mi	2/2.0 (-1)	1,340 (-6%)	2mo	$112,500	$84	82
620 112th St SE #189	0.00mi	2/2.0 (-1)	1,390 (-3%)	11mo	$145,500	$105	81
620 112th St SE #154	0.00mi	2/2.0 (-1)	1,533 (+7%)	2mo	$255,000	$166	81
11622 Silver Lake Rd #58	0.28mi	2/2.0 (-1)	1,344 (-6%)	7mo	$78,000	$58	66
11622 Silver Lake Rd #30	0.28mi	2/2.0 (-1)	1,344 (-6%)	10mo	$150,000	$112	64
11500 Meridian Ave S #91	0.64mi	3/2.0	1,456 (+2%)	5mo	$226,000	$155	63
12030 2nd Dr SE	0.54mi	2/2.0 (-1)	1,436 (+0%)	13mo	$485,000	$338	58
12030 Andrew Sater Rd	0.43mi	2/2.0 (-1)	1,264 (-12%)	10mo	$85,000	$67	48
11500 Meridian Ave S #49	0.64mi	3/2.0	1,620 (+13%)	6mo	$245,000	$151	43
11500 Meridian Ave S #22	0.64mi	3/2.0	1,290 (-10%)	13mo	$199,000	$154	43

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 54.9%
• Equity multiple: 3.31×
• Total profit: $48,537
• Equity at exit: $11,183

10-year hold

• IRR: 58.8%
• Equity multiple: 6.04×
• Total profit: $105,773
• Equity at exit: $6,485

Cash invested: $21,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 28 Tenant-Leaning
• State Washington: 28 Tenant-Leaning · D+8
• County: — inherits STATE
• City: — inherits STATE

Just-cause statewide (2021); Seattle layers rent control restrictions + relocation assistance; very tenant-friendly.

Methodology + full state rankings →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 13 active · 10 under contract
• Months of supply: 8.7 mo (12%/mo absorbed)
• Median asking: $119,950 ($88/sqft)
• Median days on market: 204 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -10.5% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 98208

• Rents YoY: -3.2%
• Active inventory: 458
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,944 high
• Mortgage (P&I): −$393
• Tax from tax record: −$69 /mo · $826/yr
• Insurance: −$31
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $1,042

Break-even live

Break-even rent $625

Max offer price $75,000

Occupancy floor 41%

Sensitivity live

Price	-10% $1,085	-5% $1,063	+0% $1,042	+5% $1,021	+10% $1,000
Rent	-10% $889	-5% $965	+0% $1,042	+5% $1,119	+10% $1,196
Rate	-1.0pp $1,080	-0.5pp $1,061	base $1,042	+0.5pp $1,023	+1.0pp $1,003

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $18,750
• Closing costs: $2,250
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
525 112th St SE Everett, WA	2.0	2.0	1019	$2,220	$2.18	4d	5	0.17mi
11401 3rd Ave SE Everett, WA	2.0	1.0–2.0	862	$1,900	$2.20	0d	15	0.21mi
515 112th St SE Everett, WA	3.0	2.5	1150	$2,207	$1.92	40d	1	0.24mi
913 Peters Pl SE Apt 3 Everett, WA	3.0	2.5	1495	$2,225	$1.49	9d	1	0.33mi
218 108th St SE Everett, WA	3.0	2.0	1196	$2,800	$2.34	4d	1	0.46mi
11931 2nd Dr SE Everett, WA	3.0	2.0	1456	$3,095	$2.13	30d	1	0.48mi
11026 Meridian Dr SE Everett, WA	3.0	2.5	1700	$3,000	$1.76	139d	1	0.53mi
11000 16th Ave SE Everett, WA	1.0–2.0	1.0–2.0	814	$2,065	$2.54	0d	8	0.54mi
4 112th St SW Unit A Everett, WA	3.0	2.5	1661	$3,300	$1.99	139d	1	0.56mi
11005 16th Ave SE Everett, WA	2.0	1.0–2.0	888	$1,850	$2.08	0d	4	0.58mi
133 124th St SE Everett, WA	1.0–2.0	1.0–2.0	820	$2,130	$2.60	0d	5	0.69mi
10514 14th Dr SE Everett, WA	3.0	2.5	1506	$2,700	$1.79	46d	1	0.69mi
12115 Meridian Ave S Everett, WA	1.0–2.0	1.0–1.5	880	$2,145	$2.44	7d	7	0.69mi
10509 14th Dr SE Everett, WA	3.0	2.5	1506	$2,700	$1.79	94d	1	0.69mi
10610 14th Dr SE Everett, WA	3.0	2.5	1506	$2,700	$1.79	27d	1	0.70mi
1304 Bruskrud Rd Everett, WA	2.0	1.5–2.0	1000	$2,094	$2.09	0d	4	0.71mi
1701 121st St SE Everett, WA	1.0–2.0	1.0–2.0	763	$2,441	$3.20	0d	12	0.78mi
119 107th St SW Unit B Everett, WA	3.0	2.0	1346	$2,900	$2.15	60d	1	0.78mi
2012 113th Pl SE Everett, WA	2.0	2.5	1250	$2,995	$2.40	56d	1	0.81mi
1726 121st St SE Unit A Everett, WA	4.0	2.5	1495	$2,550	$1.71	100d	1	0.84mi
10101 7th Ave SE Everett, WA	1.0–3.0	1.0–2.0	1073	$2,699	$2.51	0d	10	0.84mi
11030 20th Dr SE Everett, WA	2.0	2.5	1300	$2,800	$2.15	17d	1	0.85mi
11030 20th Dr SE Everett, WA	2.0	2.5	1300	$2,800	$2.15	10d	1	0.85mi
11012 20th Dr SE Everett, WA	2.0	2.5	1322	$2,590	$1.96	2d	1	0.85mi
1218 100th Ct SE Everett, WA	3.0	2.5	1617	$3,000	$1.86	10d	1	0.85mi
305 127th St SE Unit A Everett, WA	2.0	2.5	1456	$2,649	$1.82	139d	1	0.86mi
120 SE Everett Mall Way Everett, WA	1.0–2.0	1.0–2.0	809	$1,988	$2.46	0d	41	0.87mi
2020 Lake Heights Dr Everett, WA	1.0–3.0	1.0–2.0	911	$2,387	$2.62	0d	7	0.88mi
128 127th St SE Everett, WA	3.0	1.0–2.0	884	$2,819	$3.19	0d	14	0.88mi
11225 19th Ave SE Everett, WA	1.0–3.0	1.0–2.0	925	$2,488	$2.69	0d	10	0.90mi
11229 19th Ave SE Everett, WA	3.0	3.5	1861	$3,095	$1.66	2d	2	0.91mi
12429 1st Ave W Unit 2 Everett, WA	2.0	1.5	960	$1,695	$1.77	7d	1	0.92mi
12102 4th Ave W Everett, WA	1.0–3.0	1.0–2.5	982	$2,826	$2.88	42d	25	0.97mi
12102 4th Ave W Everett, WA	1.0–3.0	1.0–2.0	982	$2,849	$2.90	0d	40	0.97mi
222 124th St SW Unit A2 Everett, WA	3.0	2.0	1560	$2,975	$1.91	89d	1	0.97mi
222 124th St SW Unit A2 Everett, WA	3.0	2.5	1560	$2,975	$1.91	100d	1	0.97mi
12115 19th Ave SE Everett, WA	1.0–3.0	1.0–2.0	884	$2,153	$2.43	0d	13	0.97mi
11501 7th Ave W Everett, WA	2.0	1.5	987	$2,000	$2.03	2d	1	1.00mi
11311 19th Ave SE Everett, WA	1.0–3.0	1.0–2.0	932	$2,485	$2.66	0d	12	1.00mi
729 112th St SW Unit D3 Everett, WA	3.0	2.5	1500	$3,100	$2.07	30d	1	1.03mi

Listing history 50 events

1. 2026-09-21
   days on market $75,000 Active
2. 2026-09-19
   days on market $75,000 Active 177 DOM
3. 2026-09-18
   days on market $75,000 Active 176 DOM
4. 2026-09-17
   days on market $75,000 Active 175 DOM
5. 2026-09-16
   days on market $75,000 Active 174 DOM
6. 2026-09-15
   days on market $75,000 Active 173 DOM
7. 2026-09-14
   days on market $75,000 Active 172 DOM
8. 2026-09-13
   days on market $75,000 Active 171 DOM
9. 2026-09-12
   pricedays on market $75,000 Active 170 DOM
10. 2026-09-11
    days on market $79,000 Active 169 DOM
11. 2026-09-05
    days on market $79,000 Active 163 DOM
12. 2026-09-04
    days on market $79,000 Active 162 DOM
13. 2026-09-03
    days on market $79,000 Active 161 DOM
14. 2026-08-31
    days on market $79,000 Active 158 DOM
15. 2026-08-30
    days on market $79,000 Active 157 DOM
16. 2026-08-29
    days on market $79,000 Active 156 DOM
17. 2026-08-28
    days on market $79,000 Active 155 DOM
18. 2026-08-27
    days on market $79,000 Active 154 DOM
19. 2026-08-26
    days on market $79,000 Active 153 DOM
20. 2026-08-25
    days on market $79,000 Active 152 DOM
21. 2026-08-24
    days on market $79,000 Active 151 DOM
22. 2026-08-23
    days on market $79,000 Active 150 DOM
23. 2026-08-22
    days on market $79,000 Active 149 DOM
24. 2026-08-21
    days on market $79,000 Active 148 DOM
25. 2026-08-20
    days on market $79,000 Active 147 DOM
26. 2026-08-19
    days on market $79,000 Active 146 DOM
27. 2026-08-18
    days on market $79,000 Active 145 DOM
28. 2026-08-17
    days on market $79,000 Active 144 DOM
29. 2026-08-16
    days on market $79,000 Active 143 DOM
30. 2026-08-15
    days on market $79,000 Active 142 DOM
31. 2026-08-15
    price $79,000 Active 141 DOM
32. 2026-08-14
    days on market $85,000 Active 141 DOM
33. 2026-08-13
    days on market $85,000 Active 140 DOM
34. 2026-08-12
    days on market $85,000 Active 139 DOM
35. 2026-08-11
    days on market $85,000 Active 138 DOM
36. 2026-08-10
    days on market $85,000 Active 137 DOM
37. 2026-08-09
    days on market $85,000 Active 136 DOM
38. 2026-08-08
    days on market $85,000 Active 135 DOM
39. 2026-08-06
    days on market $85,000 Active 133 DOM
40. 2026-08-05
    days on market $85,000 Active 132 DOM
41. 2026-08-04
    days on market $85,000 Active 131 DOM
42. 2026-08-03
    days on market $85,000 Active 130 DOM
43. 2026-07-31
    days on market $85,000 Active 127 DOM
44. 2026-07-30
    days on market $85,000 Active 126 DOM
45. 2026-07-30
    days on market $85,000 Active 125 DOM
46. 2026-07-28
    days on market $85,000 Active 124 DOM
47. 2026-07-26
    days on market $85,000 Active 122 DOM
48. 2026-07-24
    days on market $85,000 Active 120 DOM
49. 2026-07-23
    days on market $85,000 Active 119 DOM
50. 2026-07-22
    days on market $85,000 Active 118 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast WA · Resets to sale price

• Current annual tax: $826 · $69/mo
• Projected year-2 tax: $826 · $69/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $23,325
• − Mortgage interest: −$4,201
• − Property taxes: −$826
• − Insurance: −$375
• − Repairs & maintenance: −$1,866
• − Management: −$1,866
• − Depreciation: −$2,182
• Taxable income: $12,008
• Est. tax owed @ 24.0%: −$2,882
• After-tax cash flow: $9,623/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 2 photos

Good 75/100 Cosmetic rehab Est. rehab $7,150–$21,450 screening

This manufactured home is in good condition with a well-maintained exterior and interior. It is move-in ready with recent upgrades and has the potential for further improvements to increase its value.

Components & finishes AI

Roof asphalt shingle · good

Value-add opportunities

• Both Paint the exterior siding and trim — Painting the exterior will enhance the curb appeal and increase the home's resale and rental value. ↑
• Both Clean the gutters and downspouts — A clean and functional drainage system is essential for the home's longevity and can improve the home's resale and rental value. ↑
• Both Install new energy-efficient windows — New energy-efficient windows can reduce energy costs and improve the home's resale and rental value. ↑
• Both Replace the HVAC system — A new HVAC system can improve the home's comfort and energy efficiency, increasing its resale and rental value. ↑
• Both Landscaping improvements — Enhancing the landscaping can improve the home's curb appeal and increase its resale and rental value. ↑
• Both Update the kitchen and bathrooms — Updating the kitchen and bathrooms can increase the home's resale and rental value by making it more modern and functional. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

Zoned Schools

Elementary Silver Lake Elementary Middle Eisenhower Middle School High Cascade High School

Schools (NCES district)

• District: Everett School District
• NCES district ID: 5302670
• Math proficiency: 60% ▲ 1.00%
• Reading proficiency: 72% ▲ 1.00%
• Median HH income: $66,815
• Composite: 59.0/100
• National rank: #1964
• State rank: #26 of 291 in WA

B Composite livability gradescore 73/100

Livability — Everett

• Score: 73/100
• State rank: #199
• US rank: #5489

Category grades

Amenities F Commute A+ Cost of living F Crime D+ Employment A- Housing A Health & safety A User ratings D+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Everett, WA
• County: Snohomish County · 899,800 people
• City population: 173,457
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 60,915
• Household income: $103,705
• Rent vs Own: 30.5% rent · 69.5% own
• Severe rent burden: 20% of renters

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Population outlook (Snohomish County) Hauer SSP2

• Today (2025): 899,800 people
• By 2030: 960,975 · +6.8%
• By 2040: 1,074,447 · +19.4%
• By 2050: 1,171,954 · +30.2%
• By 2075: 1,384,849 · +53.9%
• By 2100: 1,497,296 · +66.4%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 55% Asian 17% Hispanic / Latino 14% Two or more races 13% Black 5%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Portuguese 5% Italian 3% Slovak 2%
• Foreign-born: 27% · Canada, Vietnam, South Korea
• Languages at home: 66% English-only · Spanish 9% Vietnamese 4% Other Asian/Pacific 4%

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Political lean MEDSL · Snohomish

• 2024 margin: D (+19.0) · D 57.8% · R 38.9% · Other 3.3%
• 2008→2024 swing: +0.1pp no change · 2008: 18.9pp · 2024: 19.0pp
• All cycles: 2024: D+19.0 2020: D+20.6 2016: D+16.6 2012: D+16.2 2008: D+18.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -884.74%
• Current HPI: 337.856
• Rent YoY: ▼ -3.16%
• Metro: Seattle-Tacoma-Bellevue, WA
• State GDP YoY: ▲ 4.65%
• F500 in state: 22

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Industry mix (Fortune 500 HQ in WA)

Industry	F500 HQs	Revenue
▸Retail	2	$269B
▸Technology / Retail	1	$638B
▸Technology	1	$245B
▸Telecommunications	1	$38B
▸Food / Beverage	1	$36B
▸Automotive / Trucks	1	$34B

Price history

+84.8% since first listed

6 events — show timeline

• 2026-05-19 Price Changed $85,000 NWMLS as Distributed by MLS Grid
• 2026-04-25 Price Changed $89,990 NWMLS as Distributed by MLS Grid
• 2026-03-26 Listed $99,990 NWMLS as Distributed by MLS Grid
• 2015-10-06 Sold (MLS) $41,500 NWMLS as Distributed by MLS Grid
• 2015-09-07 Pending — NWMLS as Distributed by MLS Grid
• 2015-07-29 Listed $46,000 NWMLS as Distributed by MLS Grid

Property tax history

+9.6%/yr

Latest (2026): $826 · -16.2% YoY. Source: county tax records.