22623 31st Ave SE Unit A6 · Bothell, WA 98021

$249,950

3 bd · 2.0 ba · 1,566 sqft · Manufactured · 8 Days on market

Built 2006 Good condition

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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 +8.7/10.0
• ARV discount +7.5/15.0
• Schools +6.7/10.0
• Livability +4.2/5.0
• Condition / age +3.8/5.0
• Rent growth +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks

Turn key and ready for the next chapter! Excellent condition 3 bedroom, 2 bathroom home in the desirable 55+ Canyon Park. Home is light, bright & welcoming with vaulted ceilings, skylights & covered porch perfect for your morning coffee or tea. The spacious kitchen with all appliances included is ready for your culinary artistry with plenty of cabinet & counter space, center island & large pantry. Primary bedroom with en-suite bathroom has a walk-in jetted soaking tub. Home is very private in a small cul-de-sac and has Penny Creek directly next to it. Excellent location for all amenities - shopping, restaurants, parks, freeway, mass transit, everything you need, just

Key facts

• Covered porch
• Spacious kitchen
• Small cul-de-sac

Tags

• COVERED PORCH
• SPACIOUS KITCHEN
• WALK-IN JETTED SOAKING TUB
• SMALL CUL-DE-SAC

Property features AI

Finance

• Other: Mobile home remains on site; Model: MARO 28x66; Approx. 1566 total building area (per public records)
• Financial info: Accepts Cash, Conventional, FHA
• HOA & community: Located in Canyon Mobile Park (senior community); Park amenities include clubhouse, common area, sidewalks; Park approved for sale; Land lease applicable

Exterior

• Parking: Carport
• Utilities: Public water; Sewer handled by Guardian; Electric power (Snohomish PUD)
• Home design: Manufactured double-wide home; One level; West-facing
• Construction: Wood construction; Composition roof; Manufactured after 06/15/1976
• Exterior features: Wood exterior products; Located on a cul-de-sac; Paved access; Sidewalks; Has a view

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove/Range
• Bedrooms: 3 bedrooms
• Flooring: Engineered hardwood; Vinyl; Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Electric energy source
• Interior features: Vaulted ceilings; Skylights; Ceiling fan(s); Jetted/soaking tub; Bath off primary; Walk-in closet(s)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $250k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $970 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Cap rate 10.9% vs local median 1.5% in Bothell — 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 83/100 on livability (#53 in WA, #962 nationally) — a professional / high-income tenant draw. Strengths: schools A+, commute A+, employment A+; Watch: amenities C-, 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 (+1.8%/yr); 254 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 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 $2k of loan paydown is wiped out by about $7k 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 + 1.8% rent growth), your $70k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $249,950

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 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?
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: 1.37% ✓
• Cap rate: 10.95%
• Cash-on-cash: 16.63%
• DSCR: 1.74
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $140,940
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3333 228th St SE #94	0.15mi	2/2.0 (-1)	1,440 (-8%)	2mo	$30,000	$21	73
3333 228th St SE #100	0.15mi	3/2.0	1,336 (-15%)	6mo	$120,000	$90	63

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 · 1.75% rent growth · sell at horizon

5-year hold

• IRR: 6.4%
• Equity multiple: 1.24×
• Total profit: $17,071
• Equity at exit: $37,268

10-year hold

• IRR: 14.6%
• Equity multiple: 2.11×
• Total profit: $77,633
• Equity at exit: $21,611

Cash invested: $69,986 (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 98021

• Rents YoY: 1.8%
• Active inventory: 254
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $3,414 high
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,749/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$717
• Net cashflow: $970

Break-even live

Break-even rent $2,187

Max offer price $249,950

Occupancy floor 67%

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: $62,488
• Closing costs: $7,498
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23028 27th Ave SE Bothell, WA	1.0–3.0	1.0–2.0	880	$3,348	$3.80	1d	16	0.37mi
3610 223rd Pl SE Bothell, WA	4.0	3.0	2046	$13,500	$6.60	24d	1	0.40mi
22823 23rd Ave SE #8 Bothell, WA	4.0	3.5	2201	$3,900	$1.77	43d	1	0.54mi
2207 227th St SE Bothell, WA	1.0–3.0	1.0–2.0	846	$2,767	$3.27	1d	8	0.55mi
4131 228th Pl SE Bothell, WA	4.0	2.5	2151	$3,700	$1.72	20d	1	0.69mi
22923 41st Dr SE Bothell, WA	4.0	2.5	2169	$3,500	$1.61	15d	1	0.71mi
1630 228th St SE Bothell, WA	1.0–3.0	1.0–2.0	940	$3,057	$3.25	1d	11	0.87mi
23940 40th Dr SE Bothell, WA	1.0–3.0	1.0–2.5	1151	$3,637	$3.16	1d	12	1.03mi
21623 16th Dr SE Bothell, WA	1.0–3.0	1.0–2.0	990	$3,295	$3.33	2d	11	1.12mi
2319 210th St SE Bothell, WA	4.0	2.5	1742	$3,800	$2.18	24d	1	1.15mi
20707 31st Dr SE Bothell, WA	2.0	2.0	1334	$2,740	$2.05	18d	1	1.23mi
1145 215th Pl SE Bothell, WA	3.0	2.5	1916	$3,195	$1.67	5d	1	1.36mi
2129 Maltby Rd Bothell, WA	3.0	2.0	1207	$2,195	$1.82	5d	4	1.41mi
20012 101st Pl NE Bothell, WA	4.0	2.0	1593	$3,900	$2.45	15d	1	1.41mi
20012 101st Pl NE Bothell, WA	4.0	2.0	1593	$3,300	$2.07	1d	1	1.41mi
20030 7th Dr SE Bothell, WA	3.0	3.0	2010	$3,900	$1.94	18d	1	1.43mi

Listing history 7 events

1. 2026-06-18
   days on market $249,950 Active 8 DOM
2. 2026-06-17
   days on market $249,950 Active 7 DOM
3. 2026-06-16
   days on market $249,950 Active 6 DOM
4. 2026-06-15
   days on market $249,950 Active 5 DOM
5. 2026-06-13
   days on market $249,950 Active 3 DOM
6. 2026-06-13
   remarks 683-char remark
7. 2026-06-13
   listed $249,950 Active 2 DOM

ⓘ 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: $40,968
• − Mortgage interest: −$14,001
• − Property taxes: −$3,749
• − Insurance: −$1,250
• − Repairs & maintenance: −$3,277
• − Management: −$3,277
• − Depreciation: −$7,271
• Taxable income: $8,142
• Est. tax owed @ 24.0%: −$1,954
• After-tax cash flow: $9,683/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.

Condition & rehab AI · 14 photos

Good 75/100 Cosmetic rehab

This 3-bedroom, 2-bathroom home in Canyon Park is in good condition with a turnkey setup, ready for the next chapter.

Value-add opportunities

• Resale Paint exterior siding — Enhances curb appeal and value
• Rental Clean gutters — Keeps property in good condition and reduces maintenance costs

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Enhances curb appeal and value ↑
• Rental Clean gutters — Keeps property in good condition and reduces maintenance costs ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• Score: 83/100
• State rank: #53
• US rank: #962

Category grades

Amenities C- 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, WA
• County: Snohomish County · 786,756 people
• City population: 141,635
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 35,631
• Household income: $183,786
• Rent vs Own: 18.9% rent · 81.1% own
• Severe rent burden: 413.0

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 0.61)
• Race & ethnicity: White 55% Asian 29% Two or more races 9% Hispanic / Latino 9% Black 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Portuguese 4% Italian 3% Lithuanian 2%
• Foreign-born: 29% · China, Canada, South Korea
• Languages at home: 65% English-only · Other Indo-European 11% Other Asian/Pacific 6% Chinese 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: ▼ -903.22%
• Current HPI: 380.5475
• Rent YoY: ▲ 1.75%
• 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

1 event — show timeline

• 2026-06-10 Listed $249,950 NWMLS as Distributed by MLS Grid