16600 25th Ave NE #83

Marysville, WA 98271

$79,500C+

2 bd · 1.0 ba · 784 sqft · Built 1977 · Manufactured · Active

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,739/mo
• Mortgage (P&I): −$417
• Tax + insurance: −$132
• HOA: −$0
• Vac / Maint / Mgmt: −$365
• Net cashflow: $824/mo
• Annual: $9,892/yr
• Cap rate: 18.74%
• Cash-on-cash: 44.44%
• DSCR: 2.98
• 1% rule: 2.19%
• Cash to close: $22,260

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $80k. Condition is rated fair.
• At list price, monthly cash flow is $824 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $550 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 84/100 on livability (#43 in WA, #768 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: cost of living F.
• Lakewood School District (suburban): math 41% / reading 55% proficiency, ranked #151 of 291 in WA (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cougar Creek Elementary School (359 students, 46% FRL); Lakewood Middle School (599 students, 50% FRL); Lakewood High School (850 students, 42% FRL) — zoned schools average 46% FRL vs 29% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.3%/yr); 358 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 0d 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).
• Snohomish County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 13y ago; this cycle's ask has dropped $13k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $10k; list at $80k implies a 657% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 2.3% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 18.7% vs local median 3.0% in Marysville — 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.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: kitchen cabinets — slight wear
• Minor: bathroom vanity — dated design
• Minor: exterior siding — slight discoloration