11901 55th Ave NE #5

Marysville, WA 98270

$98,850B+

3 bd · 2.0 ba · 1,344 sqft · Built 1980 · Manufactured · Active · 170 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,035/mo
• Mortgage (P&I): −$518
• Tax + insurance: −$100
• HOA: −$0
• Vac / Maint / Mgmt: −$427
• Net cashflow: $990/mo
• Annual: $11,879/yr
• Cap rate: 18.31%
• Cash-on-cash: 42.92%
• DSCR: 2.91
• 1% rule: 2.06%
• Cash to close: $27,678

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $99k. Condition is rated good.
• At list price, monthly cash flow is $990 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• It's been on market 170 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $87k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k 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.
• Marysville School District (suburban): math 36% / reading 51% proficiency, ranked #177 of 291 in WA (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cascade Elementary (412 students, 57% FRL); Cedarcrest School (761 students, 50% FRL); Marysville Pilchuck High School (1,238 students, 63% FRL) — zoned schools average 57% FRL vs 40% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.7%/yr); 777 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals lingering (median 65d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 72% 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).
• 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 + 1.7% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 18.3% 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

• It's been on market 170 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.