2200 196th St SE #66 · Bothell East, WA 98012

$145,000

3 bd · 2.0 ba · 1,456 sqft · Manufactured public records · 97 Days on market

Built 2000 $100/sqft · 11% below area Est $150k · at est.

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Why this score? — see what drove the B+ 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +9.0/15.0
• Schools +6.7/10.0
• Livability +4.5/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

BUYER BONUS: 3-months paid rent! This spacious doublewide at Alder Trails (55+) is ready for new memories. 3 beds + den / 2 bath / 1,344 sq ft. This home features vaulted ceilings, an ideal layout, updated flooring, new interior paint, a covered deck, covered parking, and an exterior storage shed. The community amenities include a pickleball court, fitness room, outdoor BBQ area, and a library. Alder Trails is conveniently located and close to everything Bothell has to offer. Come make it yours!

Key facts

• Covered deck
• Pickleball court
• Covered parking

Tags

• VAULTED CEILINGS
• COVERED DECK
• COVERED PARKING
• EXTERIOR STORAGE SHED
• PICKLEBALL COURT
• FITNESS ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $145k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $145k).
• Recommended offer: $132k (9.0% below list) — sets the bar for market timing.
• Cap rate 18.1% vs local median 1.4% in Bothell East — 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 90/100 on livability (#5 in WA, #104 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, amenities A+; Watch: cost of living F.
• Northshore School District (suburban): math 69% / reading 78% proficiency, ranked #9 of 291 in WA (top 3%) — strong family-tenant draw, lease renewals of 3-5y typical; only 12% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+2.4%/yr); 459 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 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 $1k of loan paydown is wiped out by about $4k 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 + 2.4% rent growth), your $41k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago; this cycle's ask has dropped $30k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $131,950 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
5. 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.
6. 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.
7. 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: 2.06% ✓
• Cap rate: 18.10%
• Cash-on-cash: 42.18%
• DSCR: 2.88
• GRM: 4.0

CMA / ARV

• ARV (median comp): $149,977
• List price: $145,000
• Delta: -3.32%
• Verdict: FAIR
• Comps: 12 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2200 196th St SE #96	0.00mi	3/2.0	1,440 (-1%)	9mo	$80,000	$56	90
2200 196th St SE #66	0.00mi	3/2.0	1,344 (-8%)	0mo	$125,000	$93	87
2200 SE 196th St #2	0.00mi	2/2.0 (-1)	1,440 (-1%)	8mo	$75,000	$52	87
2200 196th St SE #87	0.00mi	3/2.0	1,440 (-1%)	15mo	$100,000	$69	86
2200 196th St SE #17	0.00mi	2/2.0 (-1)	1,404 (-4%)	11mo	$211,400	$151	80
19315 22nd Ave SE	0.25mi	3/2.0	1,440 (-1%)	12mo	$365,000	$253	77
2200 196th St SE #80	0.00mi	2/2.0 (-1)	1,344 (-8%)	12mo	$65,600	$49	72
2000 192nd St SE #116	0.32mi	2/2.0 (-1)	1,414 (-3%)	5mo	$429,000	$303	71
2200 196th St SE #30	0.00mi	2/2.0 (-1)	1,248 (-14%)	3mo	$110,000	$88	69
19229 22nd Ave SE	0.29mi	2/2.0 (-1)	1,344 (-8%)	17mo	$430,000	$320	55
1615 208th St SE #40	0.60mi	2/2.0 (-1)	1,536 (+6%)	22mo	$212,550	$138	39

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 · 2.37% rent growth · sell at horizon

5-year hold

• IRR: 38.2%
• Equity multiple: 2.61×
• Total profit: $65,525
• Equity at exit: $21,620

10-year hold

• IRR: 44.4%
• Equity multiple: 5.10×
• Total profit: $166,493
• Equity at exit: $12,537

Cash invested: $40,600 (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 →

ZIP-level market 98012

• Rents YoY: 2.4%
• Active inventory: 459
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $2,989 high
• Mortgage (P&I): −$760
• Tax from tax record: −$113 /mo · $1,361/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$628
• Net cashflow: $1,427

Break-even live

Break-even rent $1,183

Max offer price $145,000

Occupancy floor 47%

Sensitivity live

Price	-10% $1,509	-5% $1,468	+0% $1,427	+5% $1,386	+10% $1,345
Rent	-10% $1,191	-5% $1,309	+0% $1,427	+5% $1,545	+10% $1,663
Rate	-1.0pp $1,500	-0.5pp $1,464	base $1,427	+0.5pp $1,390	+1.0pp $1,351

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2009 196th St SE Bothell, WA	2.0	2.0	1017	$2,355	$2.32	44d	1	0.16mi
2115 201st Pl SE Unit P3 Bothell, WA	3.0	3.0	1753	$2,999	$1.71	6d	1	0.17mi
19905 Bothell Everett Hwy Bothell, WA	3.0	1.0–3.0	1244	$3,595	$2.89	0d	1	0.20mi
19324 22nd Ave SE #4 Bothell, WA	3.0	2.5	1195	$2,950	$2.47	25d	1	0.22mi
2422 Stafford Way Bothell, WA	4.0	2.5	1869	$3,800	$2.03	5d	1	0.28mi
20225 Bothell Everett Hwy Bothell, WA	1.0–3.0	1.0–2.0	893	$2,947	$3.30	0d	36	0.29mi
1730 196th St SE Bothell, WA	1.0–3.0	1.0–2.0	924	$2,990	$3.23	0d	1	0.32mi
19928 Bothell Everett Hwy Bothell, WA	1.0–2.0	1.0–2.0	813	$2,309	$2.84	0d	12	0.35mi
20310 Bothell Everett Hwy Bothell, WA	2.0–3.0	1.5–2.5	1195	$2,880	$2.41	44d	1	0.47mi
2201 192nd St SE Bothell, WA	3.0	2.5	1703	$3,400	$2.00	21d	1	0.51mi
18930 Bothell Everett Hwy Unit V101 Bothell, WA	2.0	2.0	980	$2,225	$2.27	6d	1	0.52mi
1910 189th Pl SE Bothell, WA	2.0	2.0	1082	$2,395	$2.21	21d	1	0.54mi
18930 Bothell Everett Hwy Bothell, WA	1.0–2.0	1.0–2.0	933	$2,225	$2.38	15d	3	0.56mi
18930 Bothell Everett Hwy Bothell, WA	1.0–2.0	1.0–2.0	933	$2,325	$2.49	19d	3	0.56mi
2129 Maltby Rd Bothell, WA	3.0	2.0	1207	$2,195	$1.82	0d	3	0.57mi
1322 194th St SE Bothell, WA	4.0	3.5	1800	$3,550	$1.97	3d	1	0.57mi
20520 Bothell Everett Hwy Bothell, WA	1.0–2.0	1.0–2.0	845	$2,317	$2.74	2d	9	0.58mi
1805 186th Pl SE Bothell, WA	1.0–3.0	1.0–2.0	1043	$2,779	$2.66	0d	13	0.72mi
2319 210th St SE Bothell, WA	4.0	2.5	1742	$3,800	$2.18	25d	1	0.79mi
19011 Grannis Rd Bothell, WA	3.0	1.0	1296	$3,200	$2.47	0d	1	0.84mi
20707 31st Dr SE Bothell, WA	2.0	2.0	1334	$2,740	$2.05	19d	1	0.86mi
622 204th St SE Bothell, WA	4.0	2.0	1800	$3,400	$1.89	3d	1	1.00mi
1225 183rd St SE Bothell, WA	1.0–3.0	1.0–2.0	952	$3,222	$3.38	0d	31	1.12mi
18331 35th Dr SE Bothell, WA	3.0	2.5	1740	$3,518	$2.02	0d	1	1.17mi
3612 183rd Ln SE Bothell, WA	3.0	2.5	1732	$3,350	$1.93	44d	1	1.21mi
18213 36th Ave SE Bothell, WA	3.0	2.5	1740	$3,400	$1.95	0d	1	1.26mi
21623 16th Dr SE Bothell, WA	1.0–3.0	1.0–2.0	990	$3,175	$3.21	0d	11	1.27mi
17615 Brook Blvd Bothell, WA	3.0	1.5	1464	$3,395	$2.32	4d	1	1.30mi
17606 Brook Blvd Bothell, WA	3.0	2.0	1614	$3,400	$2.11	6d	1	1.30mi
19626 Filbert Rd Bothell, WA	3.0	1.0	1084	$2,800	$2.58	25d	1	1.37mi

Listing history 9 events

1. 2026-06-02
   statusdays on market $145,000 Pending 97 DOM
2. 2026-06-01
   days on market $145,000 Active 96 DOM
3. 2026-05-31
   days on market $145,000 Active 95 DOM
4. 2026-05-13
   price $149,500
5. 2026-04-27
   price $156,000
6. 2026-02-25
   listed $174,900 Active
7. 2020-03-20
   soldstatus $142,000 Sold
8. 2020-02-22
   status Pending
9. 2019-10-31
   listed $149,500 Active

ⓘ 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: $1,361 · $113/mo
• Projected year-2 tax: $1,421 · $118/mo
• Expected delta: +$60/yr (+$5/mo · 4.4%)

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

Taxation est. · year 1

• Rental income: $35,870
• − Mortgage interest: −$8,122
• − Property taxes: −$1,361
• − Insurance: −$725
• − Repairs & maintenance: −$2,870
• − Management: −$2,870
• − Depreciation: −$4,218
• Taxable income: $15,705
• Est. tax owed @ 24.0%: −$3,769
• After-tax cash flow: $13,358/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.

Schools (NCES district)

• District: Northshore School District
• NCES district ID: 5305910
• Math proficiency: 69% ▼ -3.00%
• Reading proficiency: 78% ▼ -1.00%
• Median HH income: $92,951
• Composite: 67.41/100
• National rank: #826
• State rank: #9 of 291 in WA

Livability — Bothell East

• Score: 90/100
• State rank: #5
• US rank: #104

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bothell East, WA
• County: Snohomish County · 786,756 people
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 77,041
• Household income: $146,144
• Rent vs Own: 33.6% rent · 66.4% own
• Severe rent burden: 1904.0

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 51% Asian 28% Hispanic / Latino 10% Two or more races 9% Black 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Portuguese 4% Italian 3% Slovak 2%
• Foreign-born: 29% · Canada, China, South Korea
• Languages at home: 65% English-only · Other Asian/Pacific 8% Other Indo-European 7% Spanish 6%

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: ▼ -780.30%
• Current HPI: 366.3746
• Rent YoY: ▲ 2.37%
• Metro: Seattle-Tacoma-Bellevue, WA
• State GDP YoY: ▲ 4.65%
• F500 in state: 22

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

+0.0% since first listed

6 events — show timeline

• 2026-05-13 Price Changed $149,500 NWMLS as Distributed by MLS Grid
• 2026-04-27 Price Changed $156,000 NWMLS as Distributed by MLS Grid
• 2026-02-25 Listed $174,900 NWMLS as Distributed by MLS Grid
• 2020-03-20 Sold (MLS) $142,000 NWMLS as Distributed by MLS Grid
• 2020-02-22 Pending — NWMLS as Distributed by MLS Grid
• 2019-10-31 Listed $149,500 NWMLS as Distributed by MLS Grid

Property tax history

+1.2%/yr

Latest (2026): $1,361 · -0.1% YoY. Source: county tax records.