19920 67th Ave NE Unit Sp 29 · Arlington, WA 98223

$132,500

3 bd · 2.0 ba · 1,456 sqft · Manufactured public records · 126 Days on market

Built 1985 Est $202k · 35% under ↓ 21% since listing

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.3/10.0
• Livability +4.0/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

ESTATE SALE, LOCATED IN ALL-AGE PARK BETWEEN SMOKEY POINT & DOWNTOWN ARLINGTON, ON BUS LINE. NICE GLENRIVER MFG. HOME W/ CUSTOM UPDATES THRU-OUT, 3 BEDROOM & 2 BATH 1,456 SQ FT, W/ LIVING & FAMILY ROOMS. CUSTOM WALK-IN SHOWER & CLOSET OFF MASTER BEDROOM, CERAMIC FLOORING IN MAIN LIVING AREAS. LOT RENT IS $895 P/M (UTILITIES COST ARE SEPERATE). OUTSIDE FEATURES ARE HOME BACKS UP TO WOODED AREA, BACK YARD HAS LARGE (10' X 12') INSULATED SHED, RAMP TO FRONT DOOR LANDING & SIDE BY SIDE PARKING IN FRONT OF HOME. INSIDE FEATURES ARE UPDATED BATHROOMS/ NEWER FURNACE, CUSTOM WINDOWS AND LOTS OF STORAGE. HOME IS VACANT (ESTATES SALE) AND MOVE IN READY. BUYER NEEDS PARK

Key facts

• Ceramic flooring
• Newer roof
• Custom updates

Tags

• CUSTOM UPDATES
• CUSTOM WALK-IN SHOWER
• CERAMIC FLOORING
• NEWER ROOF
• LARGE INSULATED SHED
• SIDE BY SIDE PARKING

Property features AI

Finance

• Other: Buyer brokerage compensation: 3%
• Financial info: Listing terms: Cash
• HOA & community: Mobile Estates park (approximately 57 homes); Park approved for sale; High-speed internet available; Pets: see remarks; Land lease: $895

Exterior

• Parking: Uncovered parking; 2 open parking spaces
• Utilities: Public water; City of Arlington water and sewer; Snohomish County PUD power; Electric water heater (located in closet); Cable: XFINITY; Internet: XFINITY; Energy source: Electric (see remarks)
• Home design: Manufactured home (double wide); One level; East-facing; Model: GLEN RIVER 320; Has view
• Construction: Composition roof; Pillar/post/pier foundation; Manufactured after 6/15/1976; Good condition
• Exterior features: Patio/porch/deck; Landscaped; Dead-end street; Open space; Paved

Interior

• Kitchen: Dishwasher; Refrigerator; Stove/Range
• Bedrooms: 3 bedrooms
• Flooring: Ceramic tile; Laminate; Vinyl; Carpet; See remarks
• Bathrooms: 1 full bath; 1 three-quarter bath; 1 bathtub; 2 showers
• Heating & cooling: Forced air heating; Window unit(s) for cooling
• Interior features: Water heater; Ceiling fan(s); Drapes; Vaulted ceilings; Walk-in closet; Bath off primary; Family room; Kitchen with eating space; Utility room; Storage in back yard (one)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $132k.

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 $132k).
• Recommended offer: $117k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.3% vs local median 2.5% in Arlington — 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 80/100 on livability (#96 in WA, #1,873 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, health & safety A+; Watch: crime D+, cost of living F.
• Arlington School District (suburban): math 50% / reading 66% proficiency, ranked #58 of 291 in WA (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.8%/yr); 279 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 2d 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 $916 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 + 4.8% rent growth), your $37k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 126 days — a 12% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask has dropped $50k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $116,600 (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. 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 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?
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: 1.83% ✓
• Cap rate: 16.35%
• Cash-on-cash: 35.90%
• DSCR: 2.60
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $202,384
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19920 67th Ave NE #23	0.00mi	4/2.0 (+1)	1,512 (+4%)	12mo	$195,000	$129	79
19920 67th Ave NE #25	0.00mi	3/2.0	1,296 (-11%)	4mo	$180,000	$139	78

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 · 4.77% rent growth · sell at horizon

5-year hold

• IRR: 33.5%
• Equity multiple: 2.44×
• Total profit: $53,591
• Equity at exit: $19,756

10-year hold

• IRR: 41.3%
• Equity multiple: 5.21×
• Total profit: $156,282
• Equity at exit: $11,456

Cash invested: $37,100 (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 98223

• Rents YoY: 4.8%
• Active inventory: 279
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $2,426 high
• Mortgage (P&I): −$695
• Tax from tax record: −$57 /mo · $682/yr
• Insurance: −$55
• HOA: −$0
• Vacancy / Maint / Mgmt: −$510
• Net cashflow: $1,110

Break-even live

Break-even rent $1,021

Max offer price $132,500

Occupancy floor 49%

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: $33,125
• Closing costs: $3,975
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19920 67th Ave NE #47 Arlington, WA	3.0	1.5	1000	$2,185	$2.19	5d	1	0.02mi
20310 74th Ave NE Arlington, WA	3.0	1.0–2.0	819	$2,944	$3.59	2d	17	0.57mi
6906 188th St NE Arlington, WA	3.0	2.5	1281	$2,695	$2.10	2d	1	0.78mi
7980 200th St NE Arlington, WA	2.0	1.5–2.0	958	$2,144	$2.24	2d	6	0.79mi
20227 77th Ave NE Arlington, WA	1.0–2.0	1.0–2.0	805	$2,200	$2.73	2d	6	0.82mi
127 S Macleod Ave Unit A Arlington, WA	2.0	1.0	1087	$2,350	$2.16	15d	1	1.32mi

Listing history 26 events

1. 2026-06-18
   days on market $132,500 Active 126 DOM
2. 2026-06-17
   days on market $132,500 Active 125 DOM
3. 2026-06-16
   days on market $132,500 Active 124 DOM
4. 2026-06-15
   days on market $132,500 Active 123 DOM
5. 2026-06-13
   days on market $132,500 Active 121 DOM
6. 2026-06-13
   days on market $132,500 Active 120 DOM
7. 2026-06-09
   days on market $132,500 Active 117 DOM
8. 2026-06-08
   days on market $132,500 Active 116 DOM
9. 2026-06-07
   days on market $132,500 Active 115 DOM
10. 2026-06-04
    days on market $132,500 Active 112 DOM
11. 2026-06-03
    days on market $132,500 Active 111 DOM
12. 2026-06-02
    pricedays on market $132,500 Active 110 DOM
13. 2026-06-01
    days on market $145,000 Active 109 DOM
14. 2026-05-31
    days on market $145,000 Active 108 DOM
15. 2026-05-09
    price $145,000
16. 2026-05-08
    status Active
17. 2026-05-05
    status Pending
18. 2026-05-05
    status Active
19. 2026-04-29
    status Pending
20. 2026-04-15
    price $159,500
21. 2026-03-16
    price $174,500
22. 2026-03-16
    status Active
23. 2026-03-13
    status Pending
24. 2026-02-04
    status Active
25. 2026-01-30
    status Pending
26. 2026-01-26
    listed $182,500 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: $682 · $57/mo
• Projected year-2 tax: $1,298 · $108/mo
• Expected delta: +$617/yr (+$51/mo · 90.5%)

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

Taxation est. · year 1

• Rental income: $29,116
• − Mortgage interest: −$7,422
• − Property taxes: −$682
• − Insurance: −$662
• − Repairs & maintenance: −$2,329
• − Management: −$2,329
• − Depreciation: −$3,855
• Taxable income: $11,837
• Est. tax owed @ 24.0%: −$2,841
• After-tax cash flow: $10,479/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: Arlington School District
• NCES district ID: 5300240
• Math proficiency: 50% ▼ -1.00%
• Reading proficiency: 66% ▲ 1.00%
• Median HH income: $73,341
• Composite: 53.31/100
• National rank: #3184
• State rank: #58 of 291 in WA

Livability — Arlington

• Score: 80/100
• State rank: #96
• US rank: #1873

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Arlington, WA
• County: Snohomish County · 786,756 people
• City population: 46,497
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 46,497
• Household income: $99,681
• Rent vs Own: 22.4% rent · 77.6% own
• Severe rent burden: 1068.0

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: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 10% Two or more races 10% Asian 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Portuguese 9% Lithuanian 3% Slovak 3%
• Foreign-born: 7% · Canada, Vietnam
• Languages at home: 90% English-only · Spanish 5% Tagalog/Filipino 1% Russian/Polish/Slavic 1%

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: ▼ -527.84%
• Current HPI: 314.8582
• Rent YoY: ▲ 4.77%
• 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

-20.5% since first listed

12 events — show timeline

• 2026-05-09 Price Changed $145,000 NWMLS as Distributed by MLS Grid
• 2026-05-08 Relisted — NWMLS as Distributed by MLS Grid
• 2026-05-05 Pending — NWMLS as Distributed by MLS Grid
• 2026-05-05 Relisted — NWMLS as Distributed by MLS Grid
• 2026-04-29 Pending — NWMLS as Distributed by MLS Grid
• 2026-04-15 Price Changed $159,500 NWMLS as Distributed by MLS Grid
• 2026-03-16 Price Changed $174,500 NWMLS as Distributed by MLS Grid
• 2026-03-16 Relisted — NWMLS as Distributed by MLS Grid
• 2026-03-13 Pending — NWMLS as Distributed by MLS Grid
• 2026-02-04 Relisted — NWMLS as Distributed by MLS Grid
• 2026-01-30 Pending — NWMLS as Distributed by MLS Grid
• 2026-01-26 Listed $182,500 NWMLS as Distributed by MLS Grid

Property tax history

+4.5%/yr

Latest (2026): $682 · +3.8% YoY. Source: county tax records.