5220 176th St SW #19 · Lynnwood, WA 98037

$39,999

2 bd · 2.0 ba · 960 sqft · Manufactured public records · 71 Days on market

Built 1972 $42/sqft · 55% below area

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.9/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Kingsbury West Park, an active 55+ community in Lynnwood, WA welcomes you! This three bedroom, one bathroom home features a covered carport for two cars, covered front porch, and two storage sheds. With a little TLC this home could really shine! Residents may also rent the clubhouse to host events and are invited to and encouraged to attend the community hosted potlucks. Lot rent is $972/ mo and includes W/ S/G.

Key facts

• Covered front porch
• Covered carport
• Clubhouse for events

Tags

• COVERED CARPORT
• COVERED FRONT PORCH
• TWO STORAGE SHEDS
• CLUBHOUSE FOR EVENTS

🏷️ Possibly a rental listed for sale. The $39,999 price doesn't fit this home's estimated sale value (~$88,488) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $40k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Recommended offer: $38k (6.0% below list) — sets the bar for market timing.
• Cap rate 49.6% vs local median 2.2% in Lynnwood — 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 77/100 on livability (#150 in WA, #3,226 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, employment A; Watch: crime F, cost of living F.
• Edmonds School District (suburban): math 54% / reading 65% proficiency, ranked #53 of 291 in WA (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.4%/yr); 174 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 6d 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 $276 of loan paydown is wiped out by about $1k 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 + 1.4% rent growth), your $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($38k) is reasonable based on typical stale-listing flexibility.

Recommended offer $37,599 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is F 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 5.38% ✓
• Cap rate: 49.57%
• Cash-on-cash: 154.56%
• DSCR: 7.88
• GRM: 1.5

CMA / ARV

• ARV (median comp): $88,488
• List price: $39,999
• Delta: -54.80%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5220 176th St SW #4	0.00mi	2/1.5	1,040 (+8%)	1mo	$85,000	$82	83
5220 176th St SW #27	0.00mi	2/1.0	840 (-12%)	7mo	$52,500	$63	70
18501 52nd Ave W #88	0.52mi	2/2.0	902 (-6%)	6mo	$129,800	$144	61
18501 52nd Ave W #18	0.52mi	2/2.0	924 (-4%)	13mo	$125,897	$136	59
18501 52nd Ave W #54	0.45mi	2/2.0	1,096 (+14%)	0mo	$145,000	$132	55
18501 52nd Ave W #15	0.52mi	2/1.0	840 (-12%)	15mo	$111,000	$132	39
18501 52nd Ave W #41	0.52mi	2/1.0	840 (-12%)	16mo	$20,000	$24	38
18501 52nd Ave W #73	0.52mi	2/1.0	840 (-12%)	19mo	$110,000	$131	35

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 · 1.37% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.32×
• Total profit: $81,941
• Equity at exit: $5,964

10-year hold

• IRR: —
• Equity multiple: 16.71×
• Total profit: $175,953
• Equity at exit: $3,458

Cash invested: $11,200 (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 98037

• Rents YoY: 1.4%
• Active inventory: 174
• Price-to-rent: 1.5×

Monthly cashflow live

• Estimated rent: $2,151 high
• Mortgage (P&I): −$210
• Tax from tax record: −$30 /mo · $362/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$452
• Net cashflow: $1,443

Break-even live

Break-even rent $325

Max offer price $39,999

Occupancy floor 28%

Sensitivity live

Price	-10% $1,465	-5% $1,454	+0% $1,443	+5% $1,431	+10% $1,420
Rent	-10% $1,273	-5% $1,358	+0% $1,443	+5% $1,527	+10% $1,612
Rate	-1.0pp $1,463	-0.5pp $1,453	base $1,443	+0.5pp $1,432	+1.0pp $1,422

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17422 52nd Ave W Lynnwood, WA	2.0	1.5	850	$1,960	$2.31	25d	1	0.17mi
4816 176th St SW Lynnwood, WA	1.0–2.0	1.0–1.5	802	$1,970	$2.45	0d	6	0.23mi
4702 176th St SW Lynnwood, WA	1.0–2.0	1.0	886	$1,950	$2.20	0d	7	0.29mi
5419 172nd Pl SW Lynnwood, WA	3.0	2.0	980	$2,895	$2.95	25d	1	0.36mi
4502 176th St SW Unit 2 Lynnwood, WA	2.0	2.0	1004	$2,195	$2.19	44d	1	0.38mi
4432 176th St SW Unit 2 Lynnwood, WA	2.0	2.0	1004	$2,195	$2.19	25d	1	0.41mi
4432 176th St SW Unit 3 Lynnwood, WA	2.0	2.0	1004	$2,195	$2.19	44d	1	0.41mi
18400 52nd Ave W Lynnwood, WA	2.0	1.0	1092	$1,995	$1.83	44d	1	0.42mi
4428 176th St SW Unit 4 Lynnwood, WA	2.0	2.0	1004	$2,195	$2.19	25d	1	0.44mi
17828 44th Ave W Unit 2 Lynnwood, WA	2.0	2.0	750	$2,100	$2.80	44d	1	0.45mi
4410 176th St SW Lynnwood, WA	1.0–2.0	1.0	770	$1,850	$2.40	6d	3	0.47mi
5620 183rd St SW Lynnwood, WA	1.0–2.0	1.0	787	$2,075	$2.63	3d	2	0.48mi
5624 183rd St SW Lynnwood, WA	1.0–2.0	1.0	787	$2,075	$2.63	0d	2	0.50mi
17529 44th Ave W Lynnwood, WA	2.0	1.0	1000	$2,395	$2.40	4d	1	0.52mi
17314 44th Ave W Unit C Lynnwood, WA	2.0	1.5	1000	$2,200	$2.20	19d	1	0.53mi
18534 52nd Ave W Lynnwood, WA	2.0	2.0	1100	$2,295	$2.09	3d	1	0.56mi
5707 186th Pl SW Unit 4-PLEX 1 Lynnwood, WA	2.0	2.0	1000	$2,135	$2.13	25d	1	0.58mi
5311 188th St SW Lynnwood, WA	2.0	1.5	1004	$2,500	$2.49	44d	1	0.65mi
16604 48th Ave W Lynnwood, WA	1.0–3.0	1.0–2.0	890	$2,162	$2.43	4d	9	0.70mi
16308 52nd Ave W Unit 4 Edmonds, WA	2.0	1.0	900	$1,795	$1.99	12d	1	0.89mi
18124 36th Ave W Lynnwood, WA	1.0–2.0	1.0–2.0	821	$2,257	$2.75	0d	9	1.01mi
4525 164th St SW Lynnwood, WA	2.0–3.0	1.0–2.0	1093	$2,042	$1.87	0d	9	1.03mi
18031 36th Ave W Lynnwood, WA	1.0–2.0	1.0–2.0	760	$2,186	$2.88	0d	6	1.05mi
4217 164th St SW Unit A204 Lynnwood, WA	3.0	2.0	1100	$2,450	$2.23	44d	1	1.12mi
18505 36th Ave W Lynnwood, WA	1.0–2.0	1.0–2.0	776	$2,356	$3.04	0d	7	1.15mi
16419 Spruce Way Unit H4 Lynnwood, WA	2.0	2.0	900	$2,350	$2.61	44d	1	1.19mi
16419 Spruce Way Lynnwood, WA	2.0	2.0	946	$2,500	$2.64	0d	1	1.19mi
15914 44th Ave W Lynnwood, WA	1.0–2.0	1.0–2.0	932	$2,159	$2.32	3d	10	1.21mi
3805 164th St SW Lynnwood, WA	1.0–2.0	1.0–2.0	843	$2,295	$2.72	0d	4	1.24mi
19309 40th Ave W Lynnwood, WA	2.0	1.0–1.5	707	$2,580	$3.65	44d	3	1.25mi
19801 50th Ave W Lynnwood, WA	1.0–2.0	1.0	825	$1,925	$2.33	6d	5	1.28mi
3711 164th St SW Lynnwood, WA	1.0–2.0	1.0–2.0	845	$2,514	$2.97	0d	7	1.30mi
19800 50th Ave W Lynnwood, WA	1.0–2.0	1.0	791	$2,030	$2.56	0d	5	1.32mi
16104 36th Ave W Lynnwood, WA	1.0–2.0	1.0	761	$2,099	$2.76	0d	5	1.32mi
15700 44th Ave W Lynnwood, WA	1.0–3.0	1.0–2.0	940	$1,979	$2.11	3d	1	1.33mi
5618 198th St SW Unit 202 Lynnwood, WA	2.0	1.0	817	$1,750	$2.14	4d	1	1.34mi
19501 40th Ave W Lynnwood, WA	1.0–2.0	1.0	662	$2,346	$3.54	0d	26	1.35mi
5720 198th St SW Lynnwood, WA	1.0	1.0	688	$1,525	$2.22	44d	1	1.37mi
19900 56th Ave W Unit A33 Lynnwood, WA	1.0	1.0	675	$1,645	$2.44	16d	1	1.40mi
19301 36th Ave W Lynnwood, WA	2.0	1.5	1080	$2,250	$2.08	25d	1	1.40mi

Listing history 16 events

1. 2026-06-21
   days on market $39,999 Active 71 DOM
2. 2026-06-18
   days on market $39,999 Active 68 DOM
3. 2026-06-17
   days on market $39,999 Active 67 DOM
4. 2026-06-16
   days on market $39,999 Active 66 DOM
5. 2026-06-15
   days on market $39,999 Active 65 DOM
6. 2026-06-13
   days on market $39,999 Active 63 DOM
7. 2026-06-13
   days on market $39,999 Active 62 DOM
8. 2026-06-09
   days on market $39,999 Active 59 DOM
9. 2026-06-08
   days on market $39,999 Active 58 DOM
10. 2026-06-07
    days on market $39,999 Active 57 DOM
11. 2026-06-04
    days on market $39,999 Active 54 DOM
12. 2026-06-03
    days on market $39,999 Active 53 DOM
13. 2026-06-02
    days on market $39,999 Active 52 DOM
14. 2026-06-01
    days on market $39,999 Active 51 DOM
15. 2026-05-31
    days on market $39,999 Active 50 DOM
16. 2026-04-11
    listed $49,999 Active 415-char remark

    Show marketing remark (415 chars)

    Kingsbury West Park, an active 55+ community in Lynnwood, WA welcomes you! This three bedroom, one bathroom home features a covered carport for two cars, covered front porch, and two storage sheds. With a little TLC this home could really shine! Residents may also rent the clubhouse to host events and are invited to and encouraged to attend the community hosted potlucks. Lot rent is $972/ mo and includes W/ S/G.

ⓘ 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: $362 · $30/mo
• Projected year-2 tax: $392 · $33/mo
• Expected delta: +$30/yr (+$2/mo · 8.3%)

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

Taxation est. · year 1

• Rental income: $25,809
• − Mortgage interest: −$2,241
• − Property taxes: −$362
• − Insurance: −$200
• − Repairs & maintenance: −$2,065
• − Management: −$2,065
• − Depreciation: −$1,164
• Taxable income: $17,713
• Est. tax owed @ 24.0%: −$4,251
• After-tax cash flow: $13,059/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: Edmonds School District
• NCES district ID: 5302400
• Math proficiency: 54% ▼ -1.00%
• Reading proficiency: 65% ▬ 0.00%
• Median HH income: $67,451
• Composite: 53.94/100
• National rank: #3026
• State rank: #53 of 291 in WA

Livability — Lynnwood

• Score: 77/100
• State rank: #150
• US rank: #3226

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lynnwood, WA
• County: Snohomish County · 786,756 people
• City population: 152,865
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 29,723
• Household income: $107,281
• Rent vs Own: 38.4% rent · 61.6% own
• Severe rent burden: 1090.0

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 0.69)
• Race & ethnicity: White 48% Asian 23% Hispanic / Latino 15% Two or more races 12% Black 6%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Portuguese 3% Italian 3% Slovak 2%
• Foreign-born: 28% · Canada, China, South Korea
• Languages at home: 65% English-only · Spanish 10% Chinese 4% Korean 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: ▼ -847.19%
• Current HPI: 340.6136
• Rent YoY: ▲ 1.37%
• 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

• 2026-04-11 Listed $49,999 IMLS

Property tax history

+10.8%/yr

Latest (2026): $362 · +16.5% YoY. Source: county tax records.