747 75th St SE Unit B203 · Everett, WA 98203

$215,000

2 bd · 1.0 ba · 865 sqft · Condo public records · 100 Days on market

Built 1967 $249/sqft · 28% below area Est $300k · 28% under $450/mo HOA · 24% of rent ↓ 4% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +6.4/30.0
• Schools +5.9/10.0
• Livability +3.7/5.0
• 1% rule +3.6/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• DSCR +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Nicely updated one-level top floor condo featuring all new vinyl flooring in kitchen, new/ newer stainless steel appliances - refrigerator, 5-burner electric range/oven, dishwasher, microwave, washer/dryer. Newer vinyl double-pane slider and windows throughout. All new paint and baseboard heaters throughout. Community frontage along Beverly Lk - trails and cabana. Low monthly dues cover water/sewer/garbage/lawn service. New composition roof in 2023. Quick access to Boeing, Everett Mall, restaurants, Lowell/Forest/Harborview Parks.

Key facts

• Vinyl flooring
• Double-pane slider
• New composition roof

Tags

• VINYL FLOORING
• STAINLESS STEEL APPLIANCES
• DOUBLE-PANE SLIDER
• NEW COMPOSITION ROOF
• COMMUNITY FRONTAGE
• TRAILS AND CABANA

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $215k.

Deal economics

• At list price, monthly cash flow is $-376 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $149k (30.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $186k (13.6% below list).
• Recommended offer: $149k (30.9% below list) — sets the bar for cash-flow.
• Cap rate 4.2% 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.
• Everett School District (urban): math 60% / reading 72% proficiency, ranked #26 of 291 in WA (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents flat; 158 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 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 $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.

Negotiation context

• It's been on market 100 days — a 9% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.

Recommended offer $148,656 (30.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 100 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.86% ✗
• Cap rate: 4.20%
• Cash-on-cash: -7.49%
• DSCR: 0.67
• GRM: 9.6

CMA / ARV

• ARV (median comp): $299,717
• List price: $215,000
• Delta: -28.27%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.76% rent growth · sell at horizon

5-year hold

• IRR: -32.5%
• Equity multiple: -0.04×
• Total profit: $-62,606
• Equity at exit: $32,057

10-year hold

• IRR: -58.7%
• Equity multiple: -0.67×
• Total profit: $-100,376
• Equity at exit: $18,589

Cash invested: $60,200 (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 98203

• Rents YoY: 0.8%
• Active inventory: 158
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,857 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$176 /mo · $2,110/yr
• Insurance: −$90
• HOA: −$450
• Vacancy / Maint / Mgmt: −$390
• Net cashflow: $-376

Break-even live

Break-even rent $2,333

Max offer price $148,656

Occupancy floor —

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
747 75th St SE Everett, WA	2.0	1.0	864	$1,722	$1.99	5d	1	0.04mi
701 75th St SE Everett, WA	1.0–3.0	1.0	820	$1,850	$2.26	5d	5	0.04mi
618 75th St SE Everett, WA	2.0	1.0	833	$1,750	$2.10	24d	1	0.12mi
618 75th St SE Unit 206 Everett, WA	2.0	1.0	833	$1,700	$2.04	24d	1	0.12mi
1031 75th St SE Everett, WA	1.0	1.0	683	$1,638	$2.40	5d	3	0.21mi
6911 Rainier Dr Unit 11-07 Everett, WA	2.0	1.5	1008	$2,095	$2.08	5d	1	0.39mi
6911 Rainier Dr Unit 11-03 Everett, WA	2.0	1.5	1008	$1,695	$1.68	24d	1	0.39mi
8102 Evergreen Way Everett, WA	1.0–5.0	1.0–2.0	1390	$2,269	$1.63	1d	17	0.47mi
6824 Beverly Blvd Everett, WA	1.0	1.0	550	$1,595	$2.90	18d	1	0.59mi
6601 Glenwood Ave Everett, WA	2.0	1.0	882	$2,450	$2.78	1d	1	0.76mi
6303 Olympic Dr Unit n/a Everett, WA	2.0	1.0	780	$2,299	$2.95	24d	1	0.81mi
120 W Casino Rd Everett, WA	1.0–2.0	1.0–1.5	818	$1,993	$2.43	2d	13	0.94mi
6115 W Beech St Everett, WA	3.0	1.0	1000	$2,395	$2.40	1d	1	0.98mi
5804 Highway Pl Everett, WA	1.0–2.0	1.0	700	$1,800	$2.57	12d	3	1.01mi
5804 Highway Pl Unit 3 Everett, WA	1.0	1.0	550	$1,475	$2.68	24d	1	1.01mi
8920 Evergreen Way Everett, WA	2.0	1.0	567	$1,750	$3.08	2d	5	1.04mi
2319 75th St SE Everett, WA	3.0	2.0	1112	$2,745	$2.47	24d	1	1.04mi
115 Dorn Ave Everett, WA	2.0	1.0–2.0	946	$1,738	$1.84	16d	1	1.07mi
5713 Highway Pl Everett, WA	1.0	1.0	550	$1,595	$2.90	23d	1	1.07mi
611 W Casino Rd Unit 3A Everett, WA	1.0	1.0	753	$1,400	$1.86	3d	1	1.08mi
5711 Highway Pl Unit S108 Everett, WA	1.0	1.0	550	$1,595	$2.90	24d	1	1.08mi
611 W Casino Rd Everett, WA	1.0	1.0	700	$1,350	$1.93	43d	1	1.08mi
5709 Highway Pl Unit 208 Everett, WA	2.0	1.0	950	$1,375	$1.45	5d	1	1.09mi
5709 Highway Pl Unit 204 Everett, WA	1.0	1.0	600	$1,299	$2.17	20d	1	1.09mi
5707 Highway Pl Everett, WA	1.0–2.0	1.0	675	$1,465	$2.17	5d	4	1.11mi
207 Dorn Ave Unit 2H Everett, WA	2.0	1.0	780	$1,795	$2.30	15d	1	1.11mi
233 Dorn Ave Unit 1 Everett, WA	2.0	1.0	944	$1,950	$2.07	10d	1	1.15mi
8530 5th Ave W Everett, WA	1.0–2.0	1.0	808	$1,595	$1.97	5d	2	1.15mi
2505 Madison St Unit A Everett, WA	3.0	1.0	1040	$2,800	$2.69	24d	1	1.19mi
8710 5th Ave W Everett, WA	2.0	2.0	950	$2,050	$2.16	2d	11	1.20mi
702 W Casino Rd Everett, WA	1.0–2.0	1.0–1.5	850	$1,749	$2.06	5d	21	1.21mi
2517 Howard Ave Everett, WA	2.0–3.0	1.0	900	$1,645	$1.83	20d	2	1.25mi
6321 Broadway Unit 4 Everett, WA	2.0	1.0	768	$1,800	$2.34	24d	1	1.26mi
2501 Lexington Ave Unit A Everett, WA	2.0	1.0	810	$1,700	$2.10	24d	1	1.28mi
1001 W Casino Rd Unit A306 Everett, WA	2.0	2.0	921	$2,150	$2.33	5d	1	1.31mi
2421 62nd St SE Unit A Everett, WA	2.0	1.0	700	$1,800	$2.57	24d	1	1.33mi
2421 62nd St SE Unit C Everett, WA	2.0	1.0	795	$1,850	$2.33	24d	1	1.33mi
1020 W Casino Rd Everett, WA	1.0–2.0	1.0	880	$1,825	$2.07	5d	20	1.36mi
8225 11th Dr W Everett, WA	2.0	1.0	850	$1,722	$2.03	5d	2	1.36mi
2509 61st St SE Everett, WA	2.0	1.0	900	$1,495	$1.66	20d	1	1.39mi

HOA detail condo

• Monthly dues: $450 · $5,400/yr
• Likely covers: watersewertrashelectric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-06-07
   statusdays on market $215,000 Pending 100 DOM
2. 2026-06-04
   days on market $215,000 Active 99 DOM
3. 2026-06-03
   days on market $215,000 Active 98 DOM
4. 2026-06-02
   pricedays on market $215,000 Active 97 DOM
5. 2026-06-01
   days on market $230,000 Active 96 DOM
6. 2026-05-31
   days on market $230,000 Active 95 DOM
7. 2026-04-14
   price $230,000
8. 2026-03-06
   status Active
9. 2026-01-25
   status Pending
10. 2026-01-16
    listed $240,000 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: $2,110 · $176/mo
• Projected year-2 tax: $2,110 · $176/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $22,289
• − Mortgage interest: −$12,043
• − Property taxes: −$2,110
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,783
• − Management: −$1,783
• − HOA: −$5,400
• − Depreciation: −$6,255
• Taxable loss: −$8,160
• Est. tax savings @ 24.0%: +$1,958
• After-tax cash flow: $-2,548/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: Everett School District
• NCES district ID: 5302670
• Math proficiency: 60% ▲ 1.00%
• Reading proficiency: 72% ▲ 1.00%
• Median HH income: $66,815
• Composite: 59.0/100
• National rank: #1964
• State rank: #26 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): 35,517
• Household income: $107,376
• Rent vs Own: 32.3% rent · 67.7% own
• Severe rent burden: 725.0

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 0.63)
• Race & ethnicity: White 57% Hispanic / Latino 16% Two or more races 12% Asian 11% Black 8%
• Hispanic origin (detail): Mexican 11% Puerto Rican 1%
• Common ancestry: Portuguese 4% Italian 3% Slovak 2%
• Foreign-born: 21% · Canada, Vietnam, China
• Languages at home: 70% English-only · Spanish 12% Vietnamese 3% Russian/Polish/Slavic 3%

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: ▼ -744.68%
• Current HPI: 325.3157
• Rent YoY: ▲ 0.76%
• 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

-4.2% since first listed

4 events — show timeline

• 2026-04-14 Price Changed $230,000 NWMLS as Distributed by MLS Grid
• 2026-03-06 Relisted — NWMLS as Distributed by MLS Grid
• 2026-01-25 Pending — NWMLS as Distributed by MLS Grid
• 2026-01-16 Listed $240,000 NWMLS as Distributed by MLS Grid

Property tax history

+2.1%/yr

Latest (2026): $2,110 · +5.4% YoY. Source: county tax records.