13868 Chain Lake Rd · Monroe, WA 98272

$210,000

3 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 94 Days on market

Built 1985

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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 +29.6/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Schools +4.9/10.0
• Livability +4.2/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Experience living in this beautifully updated 2 bathroom, 3 bedroom plus office/flex room home. Move in ready with new flooring and fresh paint throughout, this home includes a full suite of new appliances: refrigerator, stove, dishwasher, microwave, washer, and dryer. Situated on an impressively large . 28 acre rented lot, the property offers outdoor space for entertaining, parking, and both front and back porches for relaxing. An exterior shed provides extra storage in this fantastic, welcoming neighborhood. This "like-new" home is a must see for anyone seeking space and value. Please note this is a home only sale on a leased lot and is subject to park management approval. Sched

Key facts

• Large rented lot
• Fresh paint
• New flooring

Tags

• UPDATED HOME
• NEW FLOORING
• FRESH PAINT
• NEW APPLIANCES
• LARGE RENTED LOT
• OUTDOOR SPACE

Property features AI

Finance

• Other: Manufactured after 6/15/1976; Make: Chad, Model: 48/24; Storage: one outside shed; Lot features: dead end street, secluded
• Financial info: Land lease amount $1,260; Listing terms: Cash, Conventional
• HOA & community: Park name: Highlands Park; 6 homes in park; Pets: see remarks; Land lease

Exterior

• Parking: Uncovered parking; 5 open parking spaces
• Utilities: Public water; Public sewer; Electric service (Snohomish PUD)
• Home design: Manufactured home (double wide); One story; Southeast facing; Very good condition; Mobile home remains
• Construction: Wood construction; Composition roof; Metal skirting; Tie down foundation (see remarks)
• Exterior features: Wood products siding; Patio/porch/deck; Landscaped; Outside shed (1)

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove/Range
• Bedrooms: 3 bedrooms
• Flooring: Vinyl plank
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating
• Interior features: Den/office; Double pane windows
• Laundry & utility: Washer; Dryer; Electric energy source

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $210k.

Deal economics

• At list price, monthly cash flow is $759 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $210k).
• Recommended offer: $191k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 2.6% in Monroe — 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 85/100 on livability (#36 in WA, #606 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, employment A+, housing A+; Watch: cost of living F.
• Monroe School District (suburban): math 44% / reading 60% proficiency, ranked #95 of 291 in WA (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.3%/yr); 199 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 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 $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 + 4.3% rent growth), your $59k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($191k) is reasonable based on typical stale-listing flexibility.

Recommended offer $191,100 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.20% ✓
• Cap rate: 10.63%
• Cash-on-cash: 15.49%
• DSCR: 1.69
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.3% rent growth · sell at horizon

5-year hold

• IRR: 7.5%
• Equity multiple: 1.30×
• Total profit: $17,537
• Equity at exit: $31,312

10-year hold

• IRR: 17.8%
• Equity multiple: 2.55×
• Total profit: $91,140
• Equity at exit: $18,157

Cash invested: $58,800 (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 98272

• Rents YoY: 4.3%
• Active inventory: 199
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,514 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$38 /mo · $462/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$528
• Net cashflow: $759

Break-even live

Break-even rent $1,553

Max offer price $210,000

Occupancy floor 65%

Sensitivity live

Price	-10% $878	-5% $818	+0% $759	+5% $699	+10% $390
Rent	-10% $560	-5% $660	+0% $759	+5% $858	+10% $958
Rate	-1.0pp $865	-0.5pp $812	base $759	+0.5pp $704	+1.0pp $649

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18727 Blueberry Ln Monroe, WA	2.0–3.0	2.0	1022	$2,632	$2.58	0d	10	1.13mi
651 North St Apt A Monroe, WA	2.0	1.5	1100	$2,250	$2.05	25d	1	1.17mi
610 Elizabeth St Monroe, WA	2.0	1.0	830	$1,999	$2.41	0d	1	1.19mi
18532 Blueberry Ln Apt 4 Monroe, WA	3.0	2.0	1000	$2,210	$2.21	25d	1	1.22mi
18463 Blueberry Ln Monroe, WA	1.0–3.0	1.0–2.0	945	$2,442	$2.58	0d	15	1.26mi

Listing history 14 events

1. 2026-06-18
   days on market $210,000 Active 94 DOM
2. 2026-06-17
   pricedays on market $210,000 Active 93 DOM
3. 2026-06-16
   days on market $220,000 Active 92 DOM
4. 2026-06-15
   days on market $220,000 Active 91 DOM
5. 2026-06-13
   days on market $220,000 Active 89 DOM
6. 2026-06-09
   days on market $220,000 Active 85 DOM
7. 2026-06-08
   days on market $220,000 Active 84 DOM
8. 2026-06-07
   days on market $220,000 Active 83 DOM
9. 2026-06-04
   days on market $220,000 Active 80 DOM
10. 2026-06-03
    days on market $220,000 Active 79 DOM
11. 2026-06-02
    days on market $220,000 Active 78 DOM
12. 2026-06-01
    days on market $220,000 Active 77 DOM
13. 2026-05-31
    days on market $220,000 Active 76 DOM
14. 2026-03-16
    listed $220,000 Active

ⓘ 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: $462 · $38/mo
• Projected year-2 tax: $2,058 · $172/mo
• Expected delta: +$1,596/yr (+$133/mo · 345.8%)

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

Taxation est. · year 1

• Rental income: $30,169
• − Mortgage interest: −$11,763
• − Property taxes: −$462
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,414
• − Management: −$2,414
• − Depreciation: −$6,109
• Taxable income: $5,958
• Est. tax owed @ 24.0%: −$1,430
• After-tax cash flow: $7,677/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: Monroe School District
• NCES district ID: 5305130
• Math proficiency: 44% ▼ -3.00%
• Reading proficiency: 60% ▬ 0.00%
• Median HH income: $82,960
• Composite: 49.49/100
• National rank: #4302
• State rank: #95 of 291 in WA

Livability — Monroe

• Score: 85/100
• State rank: #36
• US rank: #606

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Monroe, WA
• County: Snohomish County · 786,756 people
• City population: 31,436
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 31,436
• Household income: $122,352
• Rent vs Own: 19.3% rent · 80.7% own
• Severe rent burden: 526.0

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: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 14% Two or more races 10% Asian 6% Black 2%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Portuguese 6% Italian 4% Slovak 3%
• Foreign-born: 12% · Canada, South Korea, Jamaica
• Languages at home: 82% English-only · Spanish 9% Other Asian/Pacific 3% Other Indo-European 2%

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: ▼ -492.33%
• Current HPI: 307.2604
• Rent YoY: ▲ 4.30%
• 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

• 2026-03-16 Listed $220,000 NWMLS as Distributed by MLS Grid

Property tax history

-0.1%/yr

Latest (2026): $462 · -5.5% YoY. Source: county tax records.