11622 Silver Lake Rd #80 · Everett, WA 98208

$139,950

3 bd · 2.0 ba · 1,440 sqft · Manufactured public records · 16 Days on market

Built 1978 12 ac lot Est $151k · 7% under

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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
• ARV discount +10.8/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.8/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +1.7/5.0
• Appreciation +0.0/10.0

Listing remarks

Don't miss this beautifully maintained 3-bed, 2-bath manufactured home in the highly sought-after Silver Shores 55+ Community! Ideally situated at the end of the neighborhood, this home offers exceptional privacy & a beautifully landscaped, meticulously maintained yard. Filled with natural light, the spacious floor plan features newer windows throughout, freshly shampooed carpets, updated interior paint in select areas, & a wonderful sunroom that provides the perfect space to relax, entertain, or enjoy your morning coffee year-round. Recent updates include a brand-new furnace, brand-new heat pump, newer hot water heater, & a durable low-maintenance metal roof. Stay cool this

Key facts

• Manufactured home
• Sunroom
• Landscaped yard

Tags

• MANUFACTURED HOME
• SILVER SHORES COMMUNITY
• LANDSCAPED YARD
• NEWER WINDOWS
• SUNROOM
• BRAND-NEW FURNACE

Property features AI

Finance

• Other: Senior community (not a senior exemption)
• Financial info: Listing terms: Cash
• HOA & community: Park: Silver Shores; Park amenities: Clubhouse, High-speed internet available, RV parking; Land lease approved for sale; Land lease amount: $850

Exterior

• Parking: Carport; RV parking available in park
• Security: Senior community (Silver Shores)
• Utilities: Electric energy source; Public water; Public sewer (managed by HOA); PUD power; Cable: Xfinity; Internet: Xfinity
• Home design: Manufactured double-wide home; One level; Pillar/post/pier foundation; Metal roof; Entry facing community (Silver Shores)
• Construction: Metal/vinyl construction; Metal roof
• Exterior features: Metal/vinyl exterior; Dead-end street location; View

Interior

• Kitchen: Dishwasher; Garbage disposal; Refrigerator; Kitchen with eating space
• Bedrooms: 3 bedrooms
• Flooring: Laminate; Carpet
• Bathrooms: 1 full bath; 1 three-quarter bath; Primary bedroom with attached bath
• Heating & cooling: Forced air heating; Heat pump; Central air conditioning
• Interior features: Fireplace (wood-burning); Water heater inside (electric); Skylights; Walk-in closet; Patio/porch/deck; Landscaped
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $140k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $140k).
• Recommended offer: $138k (1.5% below list) — sets the bar for market timing.
• Cap rate 15.1% 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.
• 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 falling (-3.2%/yr); 277 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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 $968 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 + 0.0% rent growth), your $39k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.

Recommended offer $137,850 (1.5% below list)

Questions for the listing agent

1. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.81% ✓
• Cap rate: 15.15%
• Cash-on-cash: 31.63%
• DSCR: 2.41
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $151,200
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11622 Silver Lake Rd #58	0.00mi	2/2.0 (-1)	1,344 (-7%)	4mo	$78,000	$58	80
620 112th St SE #227	0.28mi	3/2.0	1,404 (-2%)	4mo	$108,000	$77	79
11622 Silver Lake Rd #30	0.00mi	2/2.0 (-1)	1,344 (-7%)	7mo	$150,000	$112	78
11622 Silver Lake Rd #38	0.00mi	2/2.0 (-1)	1,560 (+8%)	12mo	$118,500	$76	71
620 112th St SE #189	0.28mi	2/2.0 (-1)	1,390 (-4%)	8mo	$145,500	$105	70
12219 Freeway Pl	0.40mi	2/2.0 (-1)	1,452 (+1%)	12mo	$525,000	$362	65
620 112th St SE #28	0.28mi	2/2.0 (-1)	1,496 (+4%)	13mo	$160,000	$107	64
620 112th St SE #163	0.28mi	3/2.0	1,553 (+8%)	13mo	$225,000	$145	63
11622 Silver Lake Rd #84	0.00mi	2/2.0 (-1)	1,248 (-13%)	13mo	$130,000	$104	62
620 112th St SE #153	0.28mi	2/2.0 (-1)	1,340 (-7%)	12mo	$110,000	$82	60
12030 2nd Dr SE	0.56mi	2/2.0 (-1)	1,436 (-0%)	10mo	$485,000	$338	60
12030 Andrew Sater Rd	0.25mi	2/2.0 (-1)	1,264 (-12%)	6mo	$85,000	$67	58

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 23.1%
• Equity multiple: 1.91×
• Total profit: $35,724
• Equity at exit: $20,867

10-year hold

• IRR: 29.1%
• Equity multiple: 3.23×
• Total profit: $87,296
• Equity at exit: $12,100

Cash invested: $39,186 (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 98208

• Rents YoY: -3.2%
• Active inventory: 277
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $2,532 high
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,099/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$532
• Net cashflow: $1,033

Break-even live

Break-even rent $1,224

Max offer price $139,950

Occupancy floor 54%

Sensitivity live

Price	-10% $1,130	-5% $1,081	+0% $1,033	+5% $984	+10% $936
Rent	-10% $833	-5% $933	+0% $1,033	+5% $1,133	+10% $1,233
Rate	-1.0pp $1,103	-0.5pp $1,068	base $1,033	+0.5pp $997	+1.0pp $960

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: $34,988
• Closing costs: $4,198
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11401 3rd Ave SE Everett, WA	2.0	1.0–2.0	862	$1,892	$2.20	0d	15	0.42mi
525 112th St SE Everett, WA	1.0–2.0	1.0–2.0	1019	$2,416	$2.37	3d	6	0.45mi
1701 121st St SE Everett, WA	1.0–3.0	1.0–2.0	867	$2,900	$3.34	3d	12	0.51mi
515 112th St SE Everett, WA	2.0–3.0	2.0–2.5	1050	$2,345	$2.23	0d	2	0.52mi
11005 16th Ave SE Everett, WA	1.0–2.0	1.0–2.0	841	$2,031	$2.41	0d	5	0.54mi
1726 121st St SE Unit A Everett, WA	4.0	2.5	1495	$2,550	$1.71	6d	1	0.56mi
2020 Lake Heights Dr Everett, WA	1.0–3.0	1.0–2.0	918	$2,424	$2.64	0d	14	0.64mi
133 124th St SE Everett, WA	1.0–2.0	1.0–2.0	820	$2,055	$2.50	3d	9	0.67mi
12115 19th Ave SE Everett, WA	1.0–3.0	1.0–2.0	884	$2,460	$2.78	0d	12	0.71mi
10509 14th Dr SE Everett, WA	3.0	2.5	1506	$2,700	$1.79	0d	1	0.74mi
305 127th St SE Unit A Everett, WA	2.0	2.5	1456	$2,649	$1.82	45d	1	0.76mi
11225 19th Ave SE Everett, WA	1.0–3.0	1.0–2.0	925	$2,609	$2.82	0d	10	0.78mi
11026 Meridian Dr SE Everett, WA	3.0	2.5	1700	$3,000	$1.76	45d	1	0.79mi
4 112th St SW Unit A Everett, WA	3.0	2.5	1661	$3,300	$1.99	45d	1	0.79mi
128 127th St SE Everett, WA	3.0	1.0–2.0	884	$3,296	$3.73	0d	11	0.82mi
11311 19th Ave SE Everett, WA	1.0–3.0	1.0–2.0	932	$2,623	$2.81	0d	14	0.85mi
1304 Bruskrud Rd Everett, WA	2.0	1.5–2.0	900	$2,000	$2.22	0d	5	0.85mi
12510 23rd Dr SE Everett, WA	4.0	2.5	1757	$2,995	$1.70	25d	1	0.94mi
13401 Dumas Rd Mill Creek, WA	1.0–2.0	1.0–2.0	893	$2,277	$2.55	0d	6	0.94mi
222 124th St SW Unit A2 Everett, WA	3.0	2.5	1560	$2,975	$1.91	6d	1	1.00mi
13117 3rd Ave SE Unit J1 Everett, WA	3.0	3.0	1659	$3,249	$1.96	45d	1	1.03mi
10101 7th Ave SE Everett, WA	1.0–3.0	1.0–2.0	1073	$2,805	$2.61	0d	15	1.06mi
13510 N Creek Dr Mill Creek, WA	1.0–4.0	1.0–2.0	1020	$2,024	$1.98	4d	1	1.08mi
13105 21st Dr SE Everett, WA	2.0	2.0	1070	$1,899	$1.77	0d	5	1.13mi
120 SE Everett Mall Way Everett, WA	1.0–2.0	1.0–2.0	813	$2,134	$2.62	0d	43	1.14mi
2601 106th Pl SE Everett, WA	3.0	2.0	1221	$3,245	$2.66	13d	1	1.15mi
12600 4th Ave W Everett, WA	2.0	2.5	1336	$2,295	$1.72	18d	1	1.18mi
9618 19th Ave SE Unit C Everett, WA	3.0	3.0	1637	$3,200	$1.95	11d	1	1.31mi
923 112th St SW Everett, WA	1.0–3.0	1.0–2.0	858	$2,305	$2.69	3d	24	1.33mi
820 124th St SW Apt D Everett, WA	2.0	1.5	960	$1,595	$1.66	6d	1	1.36mi
11207 9th Pl W Everett, WA	2.0	1.0	995	$1,899	$1.91	21d	7	1.36mi
12522 8th Ave W Everett, WA	1.0–3.0	1.0–2.0	1005	$2,496	$2.48	0d	9	1.42mi
1108 Center Rd Everett, WA	2.0	2.0	1200	$2,150	$1.79	16d	1	1.43mi
9925 4th Ave W Apt 6 Everett, WA	2.0	2.0	1000	$1,445	$1.45	3d	1	1.43mi
11812 E Gibson Rd Everett, WA	2.0	2.0	956	$1,814	$1.90	0d	6	1.44mi
2228 137th St SE Mill Creek, WA	3.0	2.0	1858	$3,200	$1.72	6d	1	1.48mi
11719 12th Ave W Everett, WA	3.0	2.5	1533	$2,800	$1.83	45d	1	1.48mi
11727 12th Ave W #77 Everett, WA	3.0	2.5	1533	$3,100	$2.02	23d	1	1.49mi

Listing history 10 events

1. 2026-06-21
   days on market $139,950 Active 16 DOM
2. 2026-06-18
   days on market $139,950 Active 13 DOM
3. 2026-06-17
   days on market $139,950 Active 12 DOM
4. 2026-06-16
   days on market $139,950 Active 11 DOM
5. 2026-06-15
   days on market $139,950 Active 10 DOM
6. 2026-06-13
   days on market $139,950 Active 8 DOM
7. 2026-06-09
   days on market $139,950 Active 4 DOM
8. 2026-06-08
   days on market $139,950 Active 3 DOM
9. 2026-06-07
   remarks 687-char remark
10. 2026-06-07
    listed $139,950 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: $30,380
• − Mortgage interest: −$7,839
• − Property taxes: −$2,099
• − Insurance: −$700
• − Repairs & maintenance: −$2,430
• − Management: −$2,430
• − Depreciation: −$4,071
• Taxable income: $10,809
• Est. tax owed @ 24.0%: −$2,594
• After-tax cash flow: $9,800/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 — 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): 60,915
• Household income: $103,705
• Rent vs Own: 30.5% rent · 69.5% own
• Severe rent burden: 1617.0

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 0.65)
• Race & ethnicity: White 55% Asian 17% Hispanic / Latino 14% Two or more races 13% Black 5%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Portuguese 5% Italian 3% Slovak 2%
• Foreign-born: 27% · Canada, Vietnam, South Korea
• Languages at home: 66% English-only · Spanish 9% Vietnamese 4% Other Asian/Pacific 4%

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: ▼ -884.74%
• Current HPI: 337.856
• Rent YoY: ▼ -3.16%
• 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

• 2026-06-05 Listed $139,950 NWMLS as Distributed by MLS Grid

Property tax history

-23.5%/yr

Latest (2026): $9 · -3.3% YoY. Source: county tax records.