5810 Fleming St #23 · Everett, WA 98203

$190,000

3 bd · 2.0 ba · 1,620 sqft · Manufactured public records · 47 Days on market

Built 1988 18 ac lot $117/sqft · 11% above area Est $171k · 11% over

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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
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• Schools +5.9/10.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• ARV discount +2.5/15.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Age 55+ park. Spacious, open floor plan featuring a living room, family room, and dining area—all enhanced by soaring cathedral ceilings. Abundant windows fill the home with natural light and offer pleasant views throughout. The primary bedroom is privately situated at the front of the home with a walk-in closet and full bath, while bedrooms two and three are located toward the back, providing separation and flexibility for guests, office space, or hobbies. A second full bath adds convenience. Additional features include updated PEX plumbing, a two-car carport, and a generously sized covered deck—perfect for year-round enjoyment. A storage shed/workshop and multiple patios creat

Key facts

• Covered deck
• Open floor plan
• Updated pex plumbing

Tags

• OPEN FLOOR PLAN
• SOARING CATHEDRAL CEILINGS
• ABUNDANT WINDOWS
• WALK-IN CLOSET
• UPDATED PEX PLUMBING
• COVERED DECK

Property features AI

Finance

• Other: Calculated building area: 1,620 square feet; Lot has curbs, paved streets and sidewalks
• Financial info: Listing is cash only
• HOA & community: Located in Creekside manufactured home park (park approved for sale); Park amenities include BBQs, clubhouse, common area, exercise room, high-speed internet availability, and RV parking; Approximately 100 homes in the park; Senior community with senior exemption; Pets allowed: cats and dogs; Land lease amount: $1,038 (monthly)

Exterior

• Parking: Carport
• Utilities: Electric energy source; Public water (water service included in dues); Sewer service included in dues; Snohomish County PUD power; Electric water heater with booster (located in bedroom closet); Xfinity cable and internet connected
• Home design: Manufactured double-wide home; One level; North-facing; Manufactured after 6/15/1976; Model 60/28
• Construction: Cement plank and wood construction; Composition roof; Built as a manufactured house (double wide)
• Exterior features: Cement planked and wood siding; Patio/porch/deck; Awnings; Landscaped; Wood products; Curb, paved streets, and sidewalk

Interior

• Kitchen: Dishwasher; Stove/Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Vinyl; Carpet
• Bathrooms: 2 full bathrooms; 2 bathtubs; 2 showers
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Water heater; Skylights; Vaulted ceilings; Ceiling fan(s); Drapes; Walk-in closet; Bath off primary; Dining room, entry, family room, living room, and utility room
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $190k.

Deal economics

• At list price, monthly cash flow is $918 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Recommended offer: $184k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.1% vs local median 2.5% in Everett — 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 73/100 on livability (#199 in WA) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A, health & safety A; Watch: schools C-, crime D+, amenities F.
• Everett School District (urban): math 60% / reading 72% proficiency, ranked #26 of 291 in WA (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents flat; 158 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,982 units permitted in Snohomish County in 2024 (1,492 in 5+ unit buildings).
• This rent runs 32% of the median local income ($107k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 + 0.8% rent growth), your $53k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $123k; list at $190k implies a 54% gain — meaningful room to come down on a strong offer.

Recommended offer $184,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.49% ✓
• Cap rate: 12.09%
• Cash-on-cash: 20.71%
• DSCR: 1.92
• GRM: 5.6

CMA / ARV

• ARV (median comp): $171,103
• List price: $190,000
• Delta: 11.04%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5810 Fleming St #22	0.00mi	2/2.0 (-1)	1,620 (0%)	19mo	$158,950	$98	80
5810 Fleming St #64	0.00mi	3/2.0	1,568 (-3%)	22mo	$155,000	$99	76
5810 Fleming St #11	0.00mi	3/2.0	1,404 (-13%)	20mo	$190,000	$135	61

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 · 0.76% rent growth · sell at horizon

5-year hold

• IRR: 10.5%
• Equity multiple: 1.40×
• Total profit: $21,501
• Equity at exit: $28,330

10-year hold

• IRR: 17.7%
• Equity multiple: 2.31×
• Total profit: $69,761
• Equity at exit: $16,428

Cash invested: $53,200 (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 98203

• Rents YoY: 0.8%
• Active inventory: 158
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $2,824 high
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$238 /mo · $2,850/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$593
• Net cashflow: $918

Break-even live

Break-even rent $1,662

Max offer price $190,000

Occupancy floor 62%

Sensitivity live

Price	-10% $1,049	-5% $984	+0% $918	+5% $852	+10% $787
Rent	-10% $695	-5% $807	+0% $918	+5% $1,030	+10% $1,141
Rate	-1.0pp $1,014	-0.5pp $966	base $918	+0.5pp $869	+1.0pp $819

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5008 Sperry Ln Everett, WA	3.0	2.0	1305	$3,600	$2.76	18d	1	0.39mi
517 Pecks Dr Everett, WA	3.0	1.0	1440	$2,595	$1.80	2d	1	0.39mi
6609 Cady Rd Unit 2 Everett, WA	2.0	1.5	1386	$2,225	$1.61	25d	1	0.65mi
5717 Colby Ave Unit B Everett, WA	2.0	1.0	1206	$1,899	$1.57	18d	1	0.69mi
1916 60th St SE Everett, WA	3.0	2.0	1600	$4,000	$2.50	0d	1	0.74mi
5718 Commercial Ave Everett, WA	3.0	2.0	1500	$2,850	$1.90	4d	1	0.94mi
4216 Olive St Everett, WA	2.0	2.0	1700	$3,500	$2.06	25d	1	1.05mi
1007 75th St SE Everett, WA	2.0	1.5	1059	$1,695	$1.60	0d	1	1.13mi
6801 Lombard Ave Unit B Everett, WA	4.0	2.0	1460	$3,000	$2.05	0d	1	1.18mi
618 75th St SE Everett, WA	3.0	2.0	1232	$2,400	$1.95	11d	1	1.22mi
1915 75th St SE Unit 1H Everett, WA	3.0	1.5	1300	$2,500	$1.92	25d	1	1.32mi
1201 58th Pl SW Everett, WA	3.0	2.0	1286	$2,895	$2.25	22d	1	1.36mi
2319 75th St SE Everett, WA	3.0	2.0	1112	$2,745	$2.47	25d	1	1.49mi

Listing history 19 events

1. 2026-06-18
   days on market $190,000 Active 47 DOM
2. 2026-06-17
   days on market $190,000 Active 46 DOM
3. 2026-06-16
   days on market $190,000 Active 45 DOM
4. 2026-06-15
   days on market $190,000 Active 44 DOM
5. 2026-06-13
   days on market $190,000 Active 42 DOM
6. 2026-06-13
   days on market $190,000 Active 41 DOM
7. 2026-06-09
   days on market $190,000 Active 38 DOM
8. 2026-06-08
   days on market $190,000 Active 37 DOM
9. 2026-06-07
   days on market $190,000 Active 36 DOM
10. 2026-06-04
    days on market $190,000 Active 33 DOM
11. 2026-06-03
    days on market $190,000 Active 32 DOM
12. 2026-06-02
    days on market $190,000 Active 31 DOM
13. 2026-06-01
    days on market $190,000 Active 30 DOM
14. 2026-05-31
    days on market $190,000 Active 29 DOM
15. 2026-05-02
    listed $198,500 Active
16. 2019-05-31
    soldstatus $123,000 Sold
17. 2019-05-14
    status Pending
18. 2019-05-03
    status Pending Inspection
19. 2019-05-01
    listed $125,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $33,890
• − Mortgage interest: −$10,643
• − Property taxes: −$2,850
• − Insurance: −$950
• − Repairs & maintenance: −$2,711
• − Management: −$2,711
• − Depreciation: −$5,527
• Taxable income: $8,498
• Est. tax owed @ 24.0%: −$2,039
• After-tax cash flow: $8,977/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: Everett School District
• NCES district ID: 5302670
• Math proficiency: 60% ▲ 1.00%
• Reading proficiency: 72% ▲ 1.00%
• Median HH income: $66,815
• Composite: 59.0/100
• National rank: #1964
• State rank: #26 of 291 in WA

Livability — Everett

• Score: 73/100
• State rank: #199
• US rank: #5489

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Everett, WA
• County: Snohomish County · 786,756 people
• City population: 173,457
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 35,517
• Household income: $107,376
• Rent vs Own: 32.3% rent · 67.7% own
• Severe rent burden: 725.0

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 0.63)
• Race & ethnicity: White 57% Hispanic / Latino 16% Two or more races 12% Asian 11% Black 8%
• Hispanic origin (detail): Mexican 11% Puerto Rican 1%
• Common ancestry: Portuguese 4% Italian 3% Slovak 2%
• Foreign-born: 21% · Canada, Vietnam, China
• Languages at home: 70% English-only · Spanish 12% Vietnamese 3% Russian/Polish/Slavic 3%

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: ▼ -744.68%
• Current HPI: 325.3157
• Rent YoY: ▲ 0.76%
• 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

+52.0% since first listed

6 events — show timeline

• 2026-05-29 Price Changed $190,000 NWMLS as Distributed by MLS Grid
• 2026-05-02 Listed $198,500 NWMLS as Distributed by MLS Grid
• 2019-05-31 Sold (MLS) $123,000 NWMLS as Distributed by MLS Grid
• 2019-05-14 Pending — NWMLS as Distributed by MLS Grid
• 2019-05-03 Pending — NWMLS as Distributed by MLS Grid
• 2019-05-01 Listed $125,000 NWMLS as Distributed by MLS Grid

Property tax history

-3.9%/yr

Latest (2026): $227 · -3.1% YoY. Source: county tax records.