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

$85,000

3 bd · 2.0 ba · 1,430 sqft · Manufactured public records · 135 Days on market

Manufactured home 55+ age-restricted Built 1978 Good condition $59/sqft · 34% below area Est $128k · 34% 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
• Listed 134 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $85k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $982 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 20.2% 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); 364 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $588 of loan paydown is wiped out by about $3k 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 $24k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 135 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y ago; this cycle's ask has dropped $15k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $42k; list at $85k implies a 105% gain — meaningful room to come down on a strong offer.

Recommended offer $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 135 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 2.28% ✓
• Cap rate: 20.16%
• Cash-on-cash: 49.52%
• DSCR: 3.20
• GRM: 3.7

CMA / ARV

• ARV (median comp): $128,312
• List price: $85,000
• Delta: -33.76%
• Verdict: UNDERPRICED
• Comps: 18 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%)	6mo	$108,000	$77	92
620 112th St SE #181	0.00mi	2/2.0 (-1)	1,340 (-6%)	1mo	$112,500	$84	84
620 112th St SE #189	0.00mi	2/2.0 (-1)	1,390 (-3%)	9mo	$145,500	$105	83
620 112th St SE #154	0.00mi	2/2.0 (-1)	1,533 (+7%)	1mo	$255,000	$166	82
11622 Silver Lake Rd #58	0.28mi	2/2.0 (-1)	1,344 (-6%)	6mo	$78,000	$58	67
11622 Silver Lake Rd #30	0.28mi	2/2.0 (-1)	1,344 (-6%)	8mo	$150,000	$112	65
11500 Meridian Ave S #91	0.64mi	3/2.0	1,456 (+2%)	3mo	$226,000	$155	64
12030 2nd Dr SE	0.54mi	2/2.0 (-1)	1,436 (+0%)	11mo	$485,000	$338	60
12219 Freeway Pl	0.53mi	2/2.0 (-1)	1,452 (+2%)	13mo	$525,000	$362	56
12030 Andrew Sater Rd	0.43mi	2/2.0 (-1)	1,264 (-12%)	8mo	$85,000	$67	49
11500 Meridian Ave S #49	0.64mi	3/2.0	1,620 (+13%)	4mo	$245,000	$151	44
11500 Meridian Ave S #22	0.64mi	3/2.0	1,290 (-10%)	11mo	$199,000	$154	44

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: 43.8%
• Equity multiple: 2.81×
• Total profit: $43,108
• Equity at exit: $12,674

10-year hold

• IRR: 48.5%
• Equity multiple: 5.04×
• Total profit: $96,151
• Equity at exit: $7,349

Cash invested: $23,800 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 11 active · 8 under contract
• Months of supply: 6.0 mo (17%/mo absorbed)
• Median asking: $131,000 ($90/sqft)
• Median days on market: 65 d
• This list price: 9% of active listings are priced below it
• ARV vs active asking: -0.8% 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: 364
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,940 high
• Mortgage (P&I): −$446
• Tax from tax record: −$69 /mo · $826/yr
• Insurance: −$35
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $982

Break-even live

Break-even rent $696

Max offer price $85,000

Occupancy floor 44%

Sensitivity live

Price	-10% $1,030	-5% $1,006	+0% $982	+5% $958	+10% $934
Rent	-10% $829	-5% $906	+0% $982	+5% $1,059	+10% $1,135
Rate	-1.0pp $1,025	-0.5pp $1,004	base $982	+0.5pp $960	+1.0pp $938

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: $21,250
• Closing costs: $2,550
• 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	1.0–2.0	1.0–2.0	855	$2,366	$2.77	9d	6	0.17mi
11401 3rd Ave SE Everett, WA	2.0	1.0–2.0	862	$1,918	$2.22	9d	18	0.21mi
515 112th St SE Everett, WA	2.0–3.0	2.0–2.5	1050	$2,295	$2.19	10d	2	0.24mi
11026 Meridian Dr SE Everett, WA	3.0	2.5	1700	$3,000	$1.76	93d	1	0.53mi
4 112th St SW Unit A Everett, WA	3.0	2.5	1661	$3,300	$1.99	93d	1	0.56mi
11005 16th Ave SE Everett, WA	1.0–2.0	1.0–2.0	795	$2,012	$2.53	13d	3	0.58mi
133 124th St SE Everett, WA	2.0	2.0	923	$1,880	$2.04	7d	10	0.69mi
12115 Meridian Ave S Everett, WA	1.0–2.0	1.0–2.0	872	$1,995	$2.29	13d	6	0.69mi
10509 14th Dr SE Everett, WA	3.0	2.5	1506	$2,700	$1.79	48d	1	0.69mi
1304 Bruskrud Rd Everett, WA	1.0–2.0	1.0–2.0	800	$2,078	$2.60	10d	5	0.71mi
1701 121st St SE Everett, WA	1.0–2.0	1.0–2.0	763	$2,499	$3.27	7d	12	0.78mi
119 107th St SW Unit B Everett, WA	3.0	2.0	1346	$2,900	$2.15	13d	1	0.78mi
2012 113th Pl SE Everett, WA	2.0	2.5	1250	$2,995	$2.40	10d	1	0.81mi
1726 121st St SE Unit A Everett, WA	4.0	2.5	1495	$2,550	$1.71	54d	1	0.84mi
10101 7th Ave SE Everett, WA	1.0–3.0	1.0–2.0	1073	$2,699	$2.51	7d	9	0.84mi
305 127th St SE Unit A Everett, WA	2.0	2.5	1456	$2,649	$1.82	93d	1	0.86mi
120 SE Everett Mall Way Everett, WA	1.0–2.0	1.0–2.0	760	$2,224	$2.93	7d	41	0.87mi
2020 Lake Heights Dr Everett, WA	1.0–3.0	1.0–2.0	911	$2,319	$2.55	7d	13	0.88mi
128 127th St SE Everett, WA	3.0	1.0–2.0	884	$2,752	$3.11	7d	14	0.88mi
11225 19th Ave SE Everett, WA	1.0–3.0	1.0–2.0	925	$2,667	$2.88	7d	9	0.90mi
12429 1st Ave W Unit 2 Everett, WA	2.0	1.5	960	$1,895	$1.97	21d	1	0.92mi
12102 4th Ave W Everett, WA	1.0–3.0	1.0–2.5	982	$2,826	$2.88	12d	25	0.97mi
222 124th St SW Unit A2 Everett, WA	3.0	2.0	1560	$2,975	$1.91	43d	1	0.97mi
222 124th St SW Unit A2 Everett, WA	3.0	2.5	1560	$2,975	$1.91	54d	1	0.97mi
12115 19th Ave SE Everett, WA	1.0–3.0	1.0–2.0	884	$2,834	$3.20	7d	14	0.97mi
11311 19th Ave SE Everett, WA	1.0–3.0	1.0–2.0	932	$2,631	$2.82	7d	13	1.00mi
923 112th St SW Everett, WA	1.0–3.0	1.0–2.0	858	$2,396	$2.79	7d	21	1.11mi
11207 9th Pl W Everett, WA	2.0	1.0	995	$1,899	$1.91	69d	7	1.14mi
12600 4th Ave W Everett, WA	2.0	2.5	1336	$2,295	$1.72	66d	1	1.16mi
9925 4th Ave W Apt 6 Everett, WA	2.0	2.0	1000	$1,445	$1.45	51d	1	1.16mi
13117 3rd Ave SE Unit B6 Everett, WA	3.0	3.0	1671	$3,200	$1.92	17d	1	1.16mi
13117 3rd Ave SE Unit J1 Everett, WA	3.0	3.0	1659	$3,249	$1.96	93d	1	1.16mi
13401 Dumas Rd Mill Creek, WA	1.0–3.0	1.0–2.0	1016	$2,447	$2.41	7d	4	1.16mi
9618 19th Ave SE Unit C Everett, WA	3.0	3.0	1637	$3,200	$1.95	59d	1	1.20mi
12510 23rd Dr SE Everett, WA	4.0	2.5	1757	$2,995	$1.70	73d	1	1.21mi
2601 106th Pl SE Everett, WA	3.0	2.0	1221	$3,245	$2.66	61d	1	1.22mi
13004 Meridian Ave S Everett, WA	1.0–3.0	1.0–2.0	1025	$2,280	$2.22	31d	1	1.24mi
222 W Marilyn Ave Everett, WA	3.0	1.0	1000	$2,400	$2.40	66d	1	1.25mi
1108 Center Rd Everett, WA	2.0	2.0	1200	$2,150	$1.79	64d	1	1.27mi
13400 Dumas Rd Mill Creek, WA	2.0	2.0	1107	$2,543	$2.30	12d	2	1.27mi

Listing history 50 events

1. 2026-08-08
   days on market $85,000 Active 135 DOM
2. 2026-08-06
   days on market $85,000 Active 133 DOM
3. 2026-08-05
   days on market $85,000 Active 132 DOM
4. 2026-08-04
   days on market $85,000 Active 131 DOM
5. 2026-08-03
   days on market $85,000 Active 130 DOM
6. 2026-07-31
   days on market $85,000 Active 127 DOM
7. 2026-07-30
   days on market $85,000 Active 126 DOM
8. 2026-07-30
   days on market $85,000 Active 125 DOM
9. 2026-07-28
   days on market $85,000 Active 124 DOM
10. 2026-07-26
    days on market $85,000 Active 122 DOM
11. 2026-07-24
    days on market $85,000 Active 120 DOM
12. 2026-07-23
    days on market $85,000 Active 119 DOM
13. 2026-07-22
    days on market $85,000 Active 118 DOM
14. 2026-07-21
    days on market $85,000 Active 117 DOM
15. 2026-07-20
    days on market $85,000 Active 116 DOM
16. 2026-07-18
    days on market $85,000 Active 114 DOM
17. 2026-07-18
    days on market $85,000 Active 113 DOM
18. 2026-07-16
    days on market $85,000 Active 112 DOM
19. 2026-07-15
    days on market $85,000 Active 111 DOM
20. 2026-07-14
    days on market $85,000 Active 110 DOM
21. 2026-07-13
    days on market $85,000 Active 109 DOM
22. 2026-07-13
    days on market $85,000 Active 108 DOM
23. 2026-07-11
    days on market $85,000 Active 107 DOM
24. 2026-07-10
    days on market $85,000 Active 106 DOM
25. 2026-07-09
    days on market $85,000 Active 105 DOM
26. 2026-07-07
    days on market $85,000 Active 103 DOM
27. 2026-07-06
    days on market $85,000 Active 102 DOM
28. 2026-07-06
    days on market $85,000 Active 101 DOM
29. 2026-07-05
    days on market $85,000 Active 100 DOM
30. 2026-07-03
    days on market $85,000 Active 99 DOM
31. 2026-07-02
    days on market $85,000 Active 98 DOM
32. 2026-07-01
    days on market $85,000 Active 97 DOM
33. 2026-06-30
    days on market $85,000 Active 96 DOM
34. 2026-06-29
    days on market $85,000 Active 95 DOM
35. 2026-06-28
    days on market $85,000 Active 94 DOM
36. 2026-06-27
    days on market $85,000 Active 93 DOM
37. 2026-06-26
    days on market $85,000 Active 92 DOM
38. 2026-06-24
    days on market $85,000 Active 90 DOM
39. 2026-06-22
    days on market $85,000 Active 88 DOM
40. 2026-06-21
    days on market $85,000 Active 87 DOM
41. 2026-06-18
    days on market $85,000 Active 84 DOM
42. 2026-06-17
    days on market $85,000 Active 83 DOM
43. 2026-06-16
    days on market $85,000 Active 82 DOM
44. 2026-06-15
    days on market $85,000 Active 81 DOM
45. 2026-06-13
    days on market $85,000 Active 79 DOM
46. 2026-06-13
    days on market $85,000 Active 78 DOM
47. 2026-06-09
    days on market $85,000 Active 75 DOM
48. 2026-06-08
    days on market $85,000 Active 74 DOM
49. 2026-06-07
    days on market $85,000 Active 73 DOM
50. 2026-06-04
    days on market $85,000 Active 70 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: $833 · $69/mo
• Expected delta: +$7/yr (+$1/mo · 0.8%)

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

Taxation est. · year 1

• Rental income: $23,275
• − Mortgage interest: −$4,761
• − Property taxes: −$826
• − Insurance: −$425
• − Repairs & maintenance: −$1,862
• − Management: −$1,862
• − Depreciation: −$2,473
• Taxable income: $11,066
• Est. tax owed @ 24.0%: −$2,656
• After-tax cash flow: $9,131/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.