2200 196th St SE #76 · Bothell East, WA 98012

$75,000

3 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 126 Days on market

Built 1976 17 ac lot $56/sqft · 50% below area

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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 +7.5/15.0
• 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

Is there a 3-bed home in Bothell under $90K with a new roof and yard space? Yes: this updated 3-bed, 1.75-bath manufactured home in Alder Trails 55+ community offers 1,344 sq ft of comfort with a new roof in 2025, A/C, and a shaded deck off the kitchen. Enjoy a large detached shed with workspace, a partially fenced yard, and sunny patio space. Bonus: three months FREE space rent for qualified buyers. Inside, you’ll find laminate wood floors, open living and dining areas, and two baths including a private primary suite. Covered carport parking is included. Located in Alder Trails, a well-kept community with a clubhouse, pickleball court, gym, BBQ area, and more. Close to Mill Creek, Ly

Key facts

• Clubhouse
• Shaded deck
• Sunny patio space

Tags

• NEW ROOF
• SHADED DECK
• DETACHED SHED
• PARTIALLY FENCED YARD
• SUNNY PATIO SPACE
• CLUBHOUSE

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 35.8% 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); 451 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals leasing fast (median 5d 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 $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 + 2.4% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 126 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 23y ago; this cycle's ask has dropped $10k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 126 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 1976 — 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. 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?
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: 3.96% ✓
• Cap rate: 35.81%
• Cash-on-cash: 105.41%
• DSCR: 5.69
• GRM: 2.1

CMA / ARV

• ARV (median comp): $150,356
• List price: $75,000
• Delta: -50.12%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2200 196th St SE #66	0.00mi	3/2.0	1,344 (0%)	0mo	$125,000	$93	100
2200 196th St SE #80	0.00mi	2/2.0 (-1)	1,344 (0%)	12mo	$65,600	$49	85
2200 196th St SE #30	0.00mi	2/2.0 (-1)	1,248 (-7%)	3mo	$110,000	$88	81
2200 196th St SE #96	0.00mi	3/2.0	1,440 (+7%)	9mo	$80,000	$56	80
2200 196th St SE #17	0.00mi	2/2.0 (-1)	1,404 (+4%)	11mo	$211,400	$151	78
2200 SE 196th St #2	0.00mi	2/2.0 (-1)	1,440 (+7%)	8mo	$75,000	$52	77
2200 196th St SE #87	0.00mi	3/2.0	1,440 (+7%)	15mo	$100,000	$69	76
19229 22nd Ave SE	0.29mi	2/2.0 (-1)	1,344 (0%)	17mo	$430,000	$320	68
2000 192nd St SE #116	0.32mi	2/2.0 (-1)	1,414 (+5%)	5mo	$429,000	$303	67
19315 22nd Ave SE	0.25mi	3/2.0	1,440 (+7%)	12mo	$365,000	$253	67
2200 196th St SE #27	0.00mi	2/2.0 (-1)	1,152 (-14%)	12mo	$77,000	$67	62
1332 192nd St SE #55	0.62mi	2/2.0 (-1)	1,188 (-12%)	13mo	$174,950	$147	36

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: —
• Equity multiple: 5.93×
• Total profit: $103,498
• Equity at exit: $11,183

10-year hold

• IRR: —
• Equity multiple: 12.14×
• Total profit: $233,967
• 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 →

ZIP-level market 98012

• Rents YoY: 2.4%
• Active inventory: 451
• Price-to-rent: 2.1×

Monthly cashflow live

• Estimated rent: $2,971 high
• Mortgage (P&I): −$393
• Tax from tax record: −$78 /mo · $938/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$624
• Net cashflow: $1,845

Break-even live

Break-even rent $636

Max offer price $75,000

Occupancy floor 33%

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
• Reserves months: —
• Total cash needed: —

Rent comps 29 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	5d	1	0.17mi
19905 Bothell Everett Hwy Bothell, WA	3.0	1.0–3.0	1244	$3,560	$2.86	2d	1	0.20mi
19324 22nd Ave SE #4 Bothell, WA	3.0	2.5	1195	$2,950	$2.47	24d	1	0.22mi
2422 Stafford Way Bothell, WA	4.0	2.5	1869	$3,800	$2.03	4d	1	0.28mi
20225 Bothell Everett Hwy Bothell, WA	1.0–3.0	1.0–2.0	893	$2,942	$3.29	2d	38	0.29mi
1730 196th St SE Bothell, WA	1.0–3.0	1.0–2.0	924	$3,215	$3.48	2d	1	0.32mi
19928 Bothell Everett Hwy Bothell, WA	1.0–2.0	1.0–2.0	813	$2,307	$2.84	2d	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	20d	1	0.51mi
18930 Bothell Everett Hwy Unit V101 Bothell, WA	2.0	2.0	980	$2,225	$2.27	5d	1	0.52mi
1910 189th Pl SE Bothell, WA	2.0	2.0	1082	$2,395	$2.21	20d	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	18d	3	0.56mi
2129 Maltby Rd Bothell, WA	3.0	2.0	1207	$2,195	$1.82	5d	4	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	$2,746	$2.63	2d	13	0.72mi
2319 210th St SE Bothell, WA	4.0	2.5	1742	$3,800	$2.18	24d	1	0.79mi
20707 31st Dr SE Bothell, WA	2.0	2.0	1334	$2,740	$2.05	18d	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	$3,061	$3.21	2d	31	1.12mi
18331 35th Dr SE Bothell, WA	3.0	2.5	1740	$3,518	$2.02	2d	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	2d	1	1.26mi
21623 16th Dr SE Bothell, WA	1.0–3.0	1.0–2.0	990	$3,295	$3.33	2d	11	1.27mi
17615 Brook Blvd Bothell, WA	3.0	1.5	1464	$3,395	$2.32	3d	1	1.30mi
17606 Brook Blvd Bothell, WA	3.0	2.0	1614	$3,400	$2.11	5d	1	1.30mi
19626 Filbert Rd Bothell, WA	3.0	1.0	1084	$2,800	$2.58	24d	1	1.37mi

Listing history 38 events

1. 2026-06-18
   days on market $75,000 Active 126 DOM
2. 2026-06-17
   days on market $75,000 Active 125 DOM
3. 2026-06-16
   days on market $75,000 Active 124 DOM
4. 2026-06-15
   days on market $75,000 Active 123 DOM
5. 2026-06-13
   days on market $75,000 Active 121 DOM
6. 2026-06-13
   days on market $75,000 Active 120 DOM
7. 2026-06-09
   days on market $75,000 Active 117 DOM
8. 2026-06-08
   days on market $75,000 Active 116 DOM
9. 2026-06-07
   pricedays on market $75,000 Active 115 DOM
10. 2026-06-04
    days on market $78,000 Active 112 DOM
11. 2026-06-03
    days on market $78,000 Active 111 DOM
12. 2026-06-02
    pricedays on market $78,000 Active 110 DOM
13. 2026-06-01
    days on market $85,000 Active 109 DOM
14. 2026-05-31
    days on market $85,000 Active 108 DOM
15. 2026-02-12
    listed $85,000 Active
16. 2023-07-25
    soldstatus $85,000 Closed
17. 2023-07-05
    status Pending
18. 2023-06-14
    status Active
19. 2023-06-12
    status Pending
20. 2023-06-03
    status Active
21. 2023-05-30
    status Pending
22. 2023-05-09
    price $85,000
23. 2023-02-22
    price $135,000
24. 2023-01-30
    price $140,000
25. 2023-01-13
    price $153,000
26. 2022-11-09
    listed $170,000 Active
27. 2019-02-06
    soldstatus $80,000 Sold
28. 2019-01-18
    status Pending
29. 2018-12-12
    status Active
30. 2018-12-04
    status Pending Inspection
31. 2018-11-30
    status Active
32. 2018-11-17
    status Pending Inspection
33. 2018-11-08
    price $90,000
34. 2018-11-08
    status Active
35. 2018-11-06
    historical Pending - Backup Offer Requested
36. 2018-09-21
    listed $98,500 Active
37. 2003-10-14
    soldstatus $25,000
38. 2003-07-19
    listed $27,919

ⓘ 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: $938 · $78/mo
• Projected year-2 tax: $938 · $78/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: $35,656
• − Mortgage interest: −$4,201
• − Property taxes: −$938
• − Insurance: −$375
• − Repairs & maintenance: −$2,853
• − Management: −$2,853
• − Depreciation: −$2,182
• Taxable income: $22,256
• Est. tax owed @ 24.0%: −$5,341
• After-tax cash flow: $16,795/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

+204.5% since first listed

24 events — show timeline

• 2026-02-12 Listed $85,000 NWMLS as Distributed by MLS Grid
• 2023-07-25 Sold (MLS) $85,000 NWMLS as Distributed by MLS Grid
• 2023-07-05 Pending — NWMLS as Distributed by MLS Grid
• 2023-06-14 Relisted — NWMLS as Distributed by MLS Grid
• 2023-06-12 Pending — NWMLS as Distributed by MLS Grid
• 2023-06-03 Relisted — NWMLS as Distributed by MLS Grid
• 2023-05-30 Pending — NWMLS as Distributed by MLS Grid
• 2023-05-09 Price Changed $85,000 NWMLS as Distributed by MLS Grid
• 2023-02-22 Price Changed $135,000 NWMLS as Distributed by MLS Grid
• 2023-01-30 Price Changed $140,000 NWMLS as Distributed by MLS Grid
• 2023-01-13 Price Changed $153,000 NWMLS as Distributed by MLS Grid
• 2022-11-09 Listed $170,000 NWMLS as Distributed by MLS Grid
• 2019-02-06 Sold (MLS) $80,000 NWMLS as Distributed by MLS Grid
• 2019-01-18 Pending — NWMLS as Distributed by MLS Grid
• 2018-12-12 Relisted — NWMLS as Distributed by MLS Grid
• 2018-12-04 Pending — NWMLS as Distributed by MLS Grid
• 2018-11-30 Relisted — NWMLS as Distributed by MLS Grid
• 2018-11-17 Pending — NWMLS as Distributed by MLS Grid
• 2018-11-08 Price Changed $90,000 NWMLS as Distributed by MLS Grid
• 2018-11-08 Relisted — NWMLS as Distributed by MLS Grid
• 2018-11-06 Contingent — NWMLS as Distributed by MLS Grid
• 2018-09-21 Listed $98,500 NWMLS as Distributed by MLS Grid
• 2003-10-14 Sold (MLS) $25,000 NWMLS as Distributed by MLS Grid
• 2003-07-19 Listed $27,919 NWMLS as Distributed by MLS Grid

Property tax history

+6.6%/yr

Latest (2026): $938 · +13.7% YoY. Source: county tax records.