14322 Admiralty Way #6 · Lake Stickney, WA 98087

$180,000

2 bd · 2.0 ba · 1,296 sqft · Manufactured public records · 13 Days on market

Built 2016 Est $124k · 45% over

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Why this score? — see what drove the C+ 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 +8.2/10.0
• Schools +4.8/10.0
• Livability +3.7/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to effortless living in the highly sought-after 55+ community of Serene Terrace. Built in 2016, this beautifully maintained 1,350-square-foot home offers the perfect blend of modern comfort, thoughtful design, and low-maintenance living. From the moment you arrive, you'll appreciate the inviting covered front porch, expansive concrete driveway, and detached storage building that provide both curb appeal and everyday convenience. Inside, the home features an open-concept floor plan filled with natural light, soaring ceilings, and spacious living areas designed for comfort and entertaining. The heart of the home is the stunning kitchen, complete with rich cabinetry, stainless steel ap

Key facts

• Covered front porch
• Rich cabinetry
• Stunning kitchen

Tags

• COVERED FRONT PORCH
• EXPANSIVE CONCRETE DRIVEWAY
• DETACHED STORAGE BUILDING
• OPEN-CONCEPT FLOOR PLAN
• STUNNING KITCHEN
• RICH CABINETRY

Property features AI

Finance

• Other: Buyer to verify schools; Bus line nearby (Route 119)
• Financial info: Listing terms: Cash
• HOA & community: Located in Serene Terrace mobile home park; Park amenities include clubhouse, common area, high-speed internet availability, laundry, pool, recreational area; 131 homes in the park; Senior community (senior exemption: false); Pets allowed: cats and dogs; Land lease amount: $1,350

Exterior

• Parking: Uncovered parking; 2 open parking spaces; RV parking available in park
• Utilities: Public water (paid by park); Sewer paid by park; Electric and natural gas available; Power by PUD
• Home design: Manufactured home (Double Wide); One story; Entry level: One; Very good condition; Mobile home remains; Facing direction: Not specified
• Construction: Wood construction; Composition roof; Wood skirt; Pillar/post/pier foundation with tie downs; Built as a manufactured house
• Exterior features: Wood products exterior; Patio/porch/deck; Corner lot; Cul-de-sac; Curbs; Paved; Sidewalk; Has view

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove/Range
• Bedrooms: 2 bedrooms
• Flooring: Vinyl; Carpet
• Bathrooms: 1 full bath; 1 three-quarter bath; 1 bathtub; 2 showers
• Heating & cooling: Heat pump for heating and cooling
• Interior features: Water heater; Vaulted ceilings; Walk-in closet; Walk-in pantry; Jetted/soaking tub; Bath off primary; Den/office; Dining room; Entry; Kitchen with eating space; Living room; Utility room
• Laundry & utility: Washer; Dryer; Utility room with electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $180k.

Deal economics

• At list price, monthly cash flow is $767 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Cap rate 11.4% vs local median 2.4% in Lake Stickney — 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 (#192 in WA) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A, health & safety A; Watch: schools D, amenities D-, cost of living F.
• Mukilteo School District (suburban): math 47% / reading 59% proficiency, ranked #111 of 291 in WA (top 38%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.2%/yr); 232 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 4d 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 $1k of loan paydown is wiped out by about $5k 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 + 1.2% rent growth), your $50k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 22y 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.

Recommended offer $180,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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.
4. 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.
5. 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: 1.32% ✓
• Cap rate: 11.41%
• Cash-on-cash: 18.26%
• DSCR: 1.81
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $124,416
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14322 Admiralty Way #125	0.00mi	2/2.0	1,266 (-2%)	6mo	$41,000	$32	91
14322 Admiralty Way #51	0.00mi	2/2.0	1,200 (-7%)	8mo	$115,000	$96	81
14322 Admiralty Way #97	0.00mi	2/2.0	1,200 (-7%)	20mo	$74,500	$62	71
13320 Hwy 99 #189	0.51mi	2/2.0	1,334 (+3%)	1mo	$102,000	$76	71
14322 Admiralty Way #79	0.00mi	2/2.5	1,118 (-14%)	10mo	$151,700	$136	66
13320 Highway 99 #151	0.51mi	2/2.0	1,344 (+4%)	5mo	$65,000	$48	66
13320 Hwy 99 #37	0.51mi	2/2.0	1,200 (-7%)	7mo	$122,500	$102	58
13320 Highway 99 #29	0.51mi	2/2.0	1,140 (-12%)	11mo	$179,950	$158	47
13320 Highway 99 #208	0.51mi	2/2.0	1,136 (-12%)	11mo	$149,000	$131	47
13320 Highway 99 #139	0.51mi	2/2.0	1,411 (+9%)	23mo	$198,000	$140	42
13320 Highway 99 S #202	0.51mi	3/2.0 (+1)	1,488 (+15%)	9mo	$127,500	$86	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 · 1.22% rent growth · sell at horizon

5-year hold

• IRR: 8.0%
• Equity multiple: 1.31×
• Total profit: $15,452
• Equity at exit: $26,839

10-year hold

• IRR: 15.7%
• Equity multiple: 2.18×
• Total profit: $59,597
• Equity at exit: $15,563

Cash invested: $50,400 (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 98087

• Rents YoY: 1.2%
• Active inventory: 232
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $2,380 high
• Mortgage (P&I): −$944
• Tax from tax record: −$94 /mo · $1,131/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$500
• Net cashflow: $767

Break-even live

Break-even rent $1,409

Max offer price $180,000

Occupancy floor 63%

Sensitivity live

Price	-10% $869	-5% $818	+0% $767	+5% $716	+10% $665
Rent	-10% $579	-5% $673	+0% $767	+5% $861	+10% $955
Rate	-1.0pp $858	-0.5pp $813	base $767	+0.5pp $720	+1.0pp $673

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14014 Admiralty Way Lynnwood, WA	1.0–2.0	1.0–2.0	768	$1,975	$2.57	5d	6	0.08mi
14131 Admiralty Way Unit B Lynnwood, WA	2.0	1.5	1000	$2,245	$2.25	25d	1	0.10mi
2709 Lincoln Way Lynnwood, WA	2.0–3.0	2.0	1120	$2,256	$2.01	2d	4	0.24mi
14611 Admiralty Way Lynnwood, WA	1.0–3.0	1.0–2.0	1004	$2,299	$2.29	2d	11	0.30mi
13730 Manor Way Unit F2 Lynnwood, WA	3.0	3.5	1626	$3,400	$2.09	44d	1	0.50mi
3626 Shelby Rd #2 Lynnwood, WA	2.0	2.5	1360	$2,600	$1.91	3d	1	0.57mi
15001 35th Ave W Lynnwood, WA	1.0–3.0	1.0–2.0	885	$2,040	$2.31	0d	15	0.60mi
3717 148th St SW Lynnwood, WA	2.0	1.0–2.0	865	$1,912	$2.21	3d	6	0.61mi
3406 151st Pl SW Unit Na Lynnwood, WA	3.0	2.5	1418	$3,059	$2.16	0d	1	0.67mi
4020 Shelby Rd Unit 2 Lynnwood, WA	3.0	2.5	1523	$3,400	$2.23	44d	1	0.74mi
1830 145th St SW Lynnwood, WA	3.0	2.5	1873	$3,500	$1.87	17d	1	0.74mi
12909 Mukilteo Speedway Lynnwood, WA	3.0–4.0	2.0	1199	$1,993	$1.66	5d	8	0.76mi
3924 135th St SW Lynnwood, WA	3.0	2.0	1552	$3,200	$2.06	25d	1	0.77mi
14615 Madison Way Lynnwood, WA	2.0–4.0	2.0	1288	$1,899	$1.47	5d	1	0.99mi
14925 44th Ave W Unit B3 Lynnwood, WA	2.0	2.5	1419	$3,000	$2.11	3d	1	1.00mi
15713 35th Ave W Lynnwood, WA	3.0	2.0	1145	$2,395	$2.09	3d	1	1.02mi
15713 35th Ave W Lynnwood, WA	2.0	1.0	940	$2,000	$2.13	25d	1	1.02mi
1717 153rd St SW Lynnwood, WA	3.0	1.5	1372	$3,100	$2.26	44d	1	1.05mi
2510 164th St SW Lynnwood, WA	3.0	1.0–2.0	998	$2,662	$2.67	0d	1	1.08mi
1602 151st Pl SW Lynnwood, WA	3.0	2.5	1597	$3,800	$2.38	25d	1	1.10mi
12318 26th Pl W Everett, WA	3.0	2.5	1558	$3,000	$1.93	5d	1	1.11mi
4109 156th St SW Unit A3 Lynnwood, WA	2.0	1.0	988	$1,895	$1.92	25d	1	1.13mi
4109 156th St SW Unit B4 Lynnwood, WA	2.0	1.0	985	$1,995	$2.03	44d	1	1.13mi
14713 47th Ave W Lynnwood, WA	3.0	2.0	1265	$2,975	$2.35	10d	1	1.15mi
16003 Admiralty Way Lynnwood, WA	1.0–3.0	1.0–2.0	1052	$1,910	$1.81	0d	4	1.16mi
15319 Ash Way Lynnwood, WA	2.0	2.5	1184	$2,695	$2.28	0d	1	1.22mi
15704 Ash Way Unit 1256072P Lynnwood, WA	2.0	1.0	893	$4,850	$5.43	3d	1	1.22mi
15706 Ash Way Unit 1289576P Lynnwood, WA	2.0	1.0	893	$4,860	$5.44	2d	1	1.23mi
12530 Admiralty Way Unit D304 Everett, WA	2.0	2.0	1050	$2,400	$2.29	5d	1	1.24mi
15631 Ash Way Lynnwood, WA	2.0	1.0–2.0	786	$2,213	$2.81	0d	18	1.26mi
3333 164th St SW Lynnwood, WA	1.0–2.0	1.0–2.0	1048	$2,522	$2.41	0d	20	1.27mi
16111 36th Ave W Unit D4 Lynnwood, WA	3.0	4.0	1838	$3,700	$2.01	44d	1	1.29mi
12907 E Gibson Rd Everett, WA	1.0–2.0	1.0–2.0	859	$2,085	$2.43	5d	4	1.29mi
12907 E Gibson Rd Everett, WA	1.0–2.0	1.0–2.0	775	$1,725	$2.23	0d	7	1.29mi
16116 Ash Way Lynnwood, WA	1.0–3.0	1.0–2.0	1000	$2,367	$2.37	0d	9	1.31mi
4902 148th St SW Edmonds, WA	1.0–2.0	1.0–2.0	801	$2,221	$2.77	0d	10	1.36mi
15700 44th Ave W Lynnwood, WA	1.0–3.0	1.0–2.0	940	$1,979	$2.11	3d	1	1.37mi
16104 36th Ave W Lynnwood, WA	1.0–2.0	1.0	761	$2,099	$2.76	0d	5	1.37mi
3711 164th St SW Lynnwood, WA	1.0–2.0	1.0–2.0	845	$2,514	$2.97	0d	7	1.37mi
1007 130th St SW Everett, WA	1.0–2.0	1.0–2.0	796	$1,800	$2.26	0d	10	1.38mi

Listing history 9 events

1. 2026-06-18
   days on market $180,000 Active 13 DOM
2. 2026-06-17
   days on market $180,000 Active 12 DOM
3. 2026-06-16
   days on market $180,000 Active 11 DOM
4. 2026-06-15
   days on market $180,000 Active 10 DOM
5. 2026-06-13
   days on market $180,000 Active 8 DOM
6. 2026-06-09
   days on market $180,000 Active 4 DOM
7. 2026-06-08
   days on market $180,000 Active 3 DOM
8. 2026-06-07
   remarks 699-char remark
9. 2026-06-07
   listed $180,000 Active 2 DOM

ⓘ 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: $1,131 · $94/mo
• Projected year-2 tax: $1,764 · $147/mo
• Expected delta: +$633/yr (+$53/mo · 55.9%)

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

Taxation est. · year 1

• Rental income: $28,561
• − Mortgage interest: −$10,083
• − Property taxes: −$1,131
• − Insurance: −$900
• − Repairs & maintenance: −$2,285
• − Management: −$2,285
• − Depreciation: −$5,236
• Taxable income: $6,641
• Est. tax owed @ 24.0%: −$1,594
• After-tax cash flow: $7,611/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: Mukilteo School District
• NCES district ID: 5305430
• Math proficiency: 47% ▼ -2.00%
• Reading proficiency: 59% ▬ 0.00%
• Median HH income: $60,807
• Composite: 48.17/100
• National rank: #4733
• State rank: #111 of 291 in WA

Livability — Lake Stickney

• Score: 73/100
• State rank: #192
• US rank: #5224

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Stickney, WA
• County: Snohomish County · 786,756 people
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 41,796
• Household income: $106,693
• Rent vs Own: 48.0% rent · 52.0% own
• Severe rent burden: 2303.0

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: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: White 48% Asian 20% Two or more races 13% Hispanic / Latino 12% Black 8% Pacific Islander 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Portuguese 3% Slovak 3% Italian 3%
• Foreign-born: 29% · Canada, South Korea, Vietnam
• Languages at home: 64% English-only · Spanish 6% Russian/Polish/Slavic 5% Other Indo-European 5%

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: ▼ -723.54%
• Current HPI: 320.6888
• Rent YoY: ▲ 1.22%
• 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

2 events — show timeline

• 2026-06-05 Listed $180,000 NWMLS as Distributed by MLS Grid
• 2004-06-28 Listed — NWMLS as Distributed by MLS Grid

Property tax history

+15.3%/yr

Latest (2026): $1,131 · +2.6% YoY. Source: county tax records.