11100 4th Ave W #22 · Everett, WA 98204

$125,000

3 bd · 2.0 ba · 1,512 sqft · Manufactured public records · 26 Days on market

Built 1996 5.10 ac lot Est $228k · 45% 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 +15.0/15.0
• 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 +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this peaceful 55+ neighborhood featuring a super spacious, move-in ready home available. Ideally located close to shopping, dining, and everyday essentials, but tucked away so quietly, many don't even know it's here. This home has been carefully refreshed with fresh interior paint and brand-new carpet. Lighting, faucets, and updated touches throughout. Lovely kitchen has great storage and counter space, a bright breakfast nook, and an open flow into the dining room. Vaulted ceilings and big windows emphasize all the space and natural light in this lovely home. Enjoy the flexibility of two living areas: cozy up to the electric fireplace in the den or move it out into the large liv

Key facts

• Great storage
• Move in ready home
• Brand new carpet

Tags

• MOVE IN READY HOME
• FRESH INTERIOR PAINT
• BRAND NEW CARPET
• GREAT STORAGE
• BRIGHT BREAKFAST NOOK
• OPEN FLOW

Property features AI

Finance

• Other: Lot is paved with sidewalks; Lot approximately 5.1041 acres; Bus line nearby
• Financial info: Accepts cash and conventional financing
• HOA & community: Senior community (senior exemption applicable); Land lease fee applies ($1,253)

Exterior

• Parking: Carport
• Utilities: Public water (water paid to park); Electric water heater located in bedroom closet; Sewer paid to park; Snohomish County PUD power; Xfinity cable and internet
• Home design: Manufactured double wide (Palm make); One story; Vaulted ceilings; Walk-in closet; Faces south; Very good condition
• Construction: Metal/vinyl construction materials; Composition roof; Vinyl skirting; Built after 6/15/1976 (manufactured); Slab foundation with tie downs
• Exterior features: Metal/vinyl exterior; Patio/porch/deck; Landscaped; Back of carport storage; Shed

Interior

• Kitchen: Dishwasher; Refrigerator; Stove/Range; Kitchen with eating space
• Bedrooms: 3 bedrooms
• Flooring: Vinyl flooring; Carpet
• Bathrooms: 2 full bathrooms; 2 bathtubs; 2 showers; Primary bath with direct access (bath off primary)
• Heating & cooling: Forced air heating; Electric energy source
• Interior features: Water heater; Electric fireplace
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $125k.

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 ($3k rent vs $125k).
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.
• Cap rate 20.3% 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 soft (-1.7%/yr); 167 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 3,982 units permitted in Snohomish County in 2024 (1,492 in 5+ unit buildings).
• At $2,803/mo this rent would consume 49% of the median local household income ($69k/yr) (locally 2874% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 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 $35k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.

Recommended offer $123,125 (1.5% below list)

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. 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?
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: 2.24% ✓
• Cap rate: 20.28%
• Cash-on-cash: 49.94%
• DSCR: 3.22
• GRM: 3.7

CMA / ARV

• ARV (on-the-fly): $228,312
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11100 4th Ave W #30	0.00mi	2/2.0 (-1)	1,408 (-7%)	0mo	$140,000	$99	83
11500 Meridian Ave S #91	0.37mi	3/2.0	1,456 (-4%)	2mo	$226,000	$155	75
11100 W 4th Ave #3	0.00mi	3/2.0	1,294 (-14%)	7mo	$102,000	$79	70
11500 Meridian Ave S #49	0.37mi	3/2.0	1,620 (+7%)	3mo	$245,000	$151	68
11500 Meridian Ave S #22	0.37mi	3/2.0	1,290 (-15%)	10mo	$199,000	$154	50

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: 44.3%
• Equity multiple: 2.84×
• Total profit: $64,272
• Equity at exit: $18,638

10-year hold

• IRR: 49.0%
• Equity multiple: 5.10×
• Total profit: $143,579
• Equity at exit: $10,808

Cash invested: $35,000 (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 98204

• Rents YoY: -1.7%
• Active inventory: 167
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $2,803 high
• Mortgage (P&I): −$656
• Tax from tax record: −$50 /mo · $601/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$589
• Net cashflow: $1,456

Break-even live

Break-even rent $959

Max offer price $125,000

Occupancy floor 43%

Sensitivity live

Price	-10% $1,527	-5% $1,492	+0% $1,456	+5% $1,421	+10% $1,386
Rent	-10% $1,235	-5% $1,346	+0% $1,456	+5% $1,567	+10% $1,678
Rate	-1.0pp $1,519	-0.5pp $1,488	base $1,456	+0.5pp $1,424	+1.0pp $1,391

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
729 112th St SW Unit B3 Everett, WA	4.0	3.5	2174	$3,395	$1.56	17d	1	0.20mi
4 112th St SW Unit A Everett, WA	3.0	2.5	1661	$3,300	$1.99	44d	1	0.34mi
11026 Meridian Dr SE Everett, WA	3.0	2.5	1700	$3,000	$1.76	44d	1	0.35mi
29 112th St SE Everett, WA	4.0	2.5	1957	$3,800	$1.94	44d	1	0.41mi
10111 9th Ave W Everett, WA	1.0–2.0	1.0–2.5	1098	$2,550	$2.32	5d	4	0.57mi
10115 Holly Dr Everett, WA	1.0–3.0	1.0–2.0	1003	$2,720	$2.71	10d	22	0.62mi
10115 Holly Dr Everett, WA	1.0–3.0	1.0–2.0	1003	$2,720	$2.71	0d	25	0.62mi
1108 Center Rd Everett, WA	2.0	2.0	1200	$2,150	$1.79	15d	1	0.67mi
515 112th St SE Everett, WA	2.0–3.0	2.0–2.5	1050	$2,345	$2.23	0d	2	0.67mi
11719 12th Ave W Everett, WA	3.0	2.5	1533	$2,800	$1.83	45d	1	0.71mi
120 SE Everett Mall Way Everett, WA	1.0–2.0	1.0–2.0	813	$2,134	$2.62	0d	43	0.71mi
11727 12th Ave W #77 Everett, WA	3.0	2.5	1533	$3,100	$2.02	22d	1	0.72mi
9900 12th Ave W Everett, WA	1.0–3.0	1.0–2.0	1033	$2,892	$2.80	0d	14	0.85mi
9515 Holly Dr Unit 1 Everett, WA	3.0	2.5	1600	$3,000	$1.88	44d	1	0.86mi
12121 Admiralty Way Everett, WA	1.0–3.0	1.0–2.0	1116	$2,855	$2.56	0d	16	0.87mi
10104 Dakota Way Everett, WA	4.0	2.5	1744	$4,195	$2.41	17d	1	0.91mi
222 124th St SW Unit A2 Everett, WA	3.0	2.5	1560	$2,975	$1.91	5d	1	0.96mi
2020 Hollow Dale Pl Unit A Everett, WA	3.0	2.5	1525	$2,650	$1.74	44d	1	0.96mi
10101 7th Ave SE Everett, WA	1.0–3.0	1.0–2.0	1073	$2,805	$2.61	0d	15	1.01mi
12522 8th Ave W Everett, WA	1.0–3.0	1.0–2.0	1005	$2,496	$2.48	0d	9	1.06mi
12600 4th Ave W Everett, WA	2.0	2.5	1336	$2,295	$1.72	17d	1	1.06mi
12402 Admiralty Way Everett, WA	1.0–3.0	1.0–2.0	842	$2,370	$2.81	2d	16	1.06mi
9916 18th Ave W Unit G Everett, WA	3.0	2.0	1569	$2,850	$1.82	17d	1	1.09mi
1826 98th Pl SW Unit B Everett, WA	3.0	2.5	1467	$2,650	$1.81	3d	1	1.12mi
1826 98th Pl SW Unit B Everett, WA	3.0	2.5	1467	$2,650	$1.81	5d	1	1.12mi
12433 Admiralty Way Everett, WA	1.0–3.0	1.0–3.0	1244	$3,099	$2.49	0d	34	1.13mi
2301 116th St SW Unit E Everett, WA	3.0	2.5	1400	$2,595	$1.85	44d	1	1.16mi
128 127th St SE Everett, WA	3.0	1.0–2.0	884	$3,296	$3.73	0d	12	1.17mi
11625 Center Rd Unit C Everett, WA	3.0	2.5	1608	$3,200	$1.99	44d	1	1.20mi
9327 16th Dr W Everett, WA	3.0	2.5	1708	$3,100	$1.81	44d	1	1.20mi
12118 Highway 99 Everett, WA	1.0–5.0	1.0–3.0	1117	$2,236	$2.00	2d	5	1.23mi
305 127th St SE Unit A Everett, WA	2.0	2.5	1456	$2,649	$1.82	44d	1	1.24mi
12530 Admiralty Way Unit D304 Everett, WA	2.0	2.0	1050	$2,400	$2.29	5d	1	1.28mi
12810 15th Pl W Everett, WA	4.0	2.5	1940	$3,500	$1.80	44d	1	1.36mi
10509 14th Dr SE Everett, WA	3.0	2.5	1506	$2,700	$1.79	0d	1	1.38mi
1416 129th St SW Everett, WA	4.0	2.5	1940	$3,400	$1.75	44d	1	1.39mi
11005 16th Ave SE Everett, WA	1.0–2.0	1.0–2.0	841	$2,031	$2.41	0d	5	1.39mi
1301 124th Pl SE Everett, WA	3.0	2.5	1876	$3,500	$1.87	25d	1	1.50mi

Listing history 17 events

1. 2026-06-18
   days on market $125,000 Active 26 DOM
2. 2026-06-17
   days on market $125,000 Active 25 DOM
3. 2026-06-16
   days on market $125,000 Active 24 DOM
4. 2026-06-15
   days on market $125,000 Active 23 DOM
5. 2026-06-13
   days on market $125,000 Active 21 DOM
6. 2026-06-09
   days on market $125,000 Active 17 DOM
7. 2026-06-08
   days on market $125,000 Active 16 DOM
8. 2026-06-07
   days on market $125,000 Active 15 DOM
9. 2026-06-04
   days on market $125,000 Active 12 DOM
10. 2026-06-03
    days on market $125,000 Active 11 DOM
11. 2026-06-02
    days on market $125,000 Active 10 DOM
12. 2026-06-01
    days on market $125,000 Active 9 DOM
13. 2026-05-31
    days on market $125,000 Active 8 DOM
14. 2026-04-24
    price $135,000
15. 2026-04-09
    status Active
16. 2026-04-09
    status Pending
17. 2026-04-08
    listed $140,000 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: $601 · $50/mo
• Projected year-2 tax: $1,225 · $102/mo
• Expected delta: +$624/yr (+$52/mo · 103.7%)

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

Taxation est. · year 1

• Rental income: $33,633
• − Mortgage interest: −$7,002
• − Property taxes: −$601
• − Insurance: −$625
• − Repairs & maintenance: −$2,691
• − Management: −$2,691
• − Depreciation: −$3,636
• Taxable income: $16,387
• Est. tax owed @ 24.0%: −$3,933
• After-tax cash flow: $13,545/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

• County: Snohomish County · 786,756 people
• City population: 173,457
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 45,130
• Household income: $68,513
• Rent vs Own: 66.4% rent · 33.6% own
• Severe rent burden: 2874.0

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 46% Hispanic / Latino 22% Asian 14% Two or more races 11% Black 9% Pacific Islander 2%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Subsaharan African 4% Italian 2% Portuguese 2%
• Foreign-born: 31% · Canada, Vietnam, South Korea
• Languages at home: 58% English-only · Spanish 18% Russian/Polish/Slavic 6% Vietnamese 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: ▼ -540.03%
• Current HPI: 321.7923
• Rent YoY: ▼ -1.70%
• 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

• 2026-05-23 Listed $125,000 NWMLS as Distributed by MLS Grid

Property tax history

-1.6%/yr

Latest (2026): $601 · +2.5% YoY. Source: county tax records.