620 112th St SE #34 · Everett, WA 98208

$149,950

2 bd · 2.0 ba · 1,616 sqft · Manufactured public records · 2 Days on market

Built 1986 Est $234k · 36% 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 +5.9/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +1.7/5.0
• Appreciation +0.0/10.0

Listing remarks

MUST SEE! LIKE NEW! READY TO MOVE IN. 3 bedrooms, 2 baths, located in Lago De Plata 55+ Community. Home been through remodeling Modern Style. NEW PAINT EXTRIOR/INTERIOR, NEW KITCHEN CABINET, COUNTER, SINK, NEW REFRIGERATOR, STOVE, DISWASHER, MEW LAMINATE FLOOR (Water Proof) NEW LED LIGHT FIXTURES. Master Bedroom is huge ( Like 2 rooms in One) Master Bath with free standing TUB, SKYLIGHT, Shower and nice long vanity. Private Patio with cover at front entrance, Tandem 2 cars Carport, Outdoor Storage. Close to Shopping Center and all other services. easy to Freeway.

Key facts

• Modern style
• New kitchen cabinet
• New stove

Tags

• LAGO DE PLATA COMMUNITY
• MODERN STYLE
• NEW PAINT EXTRIOR
• NEW KITCHEN CABINET
• NEW REFRIGERATOR
• NEW STOVE

Property features AI

Finance

• Other:
• Financial info: Accepts Cash and Conventional offers
• HOA & community: Located in a senior community (Lago De Plata); Monthly land lease of $1,500

Exterior

• Parking:
• Security:
• Utilities: Electric power
• Home design: Manufactured double-wide home; One story; Residential manufactured home (very good condition)
• Construction: Double wide manufactured construction
• Exterior features: Patio/porch/deck; Awnings; Landscaped

Interior

• Kitchen: Dishwasher; Stove/Range; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Laminate
• Bathrooms: 1 full bath; 1 three-quarter bath
• Heating & cooling: Forced air heating; Heat pump
• Interior features: Vaulted ceilings; Skylights; Jetted/soaking tub; Awnings; Patio/porch/deck; Landscaped; Bath off primary
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $150k.

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 ($2k rent vs $150k).
• Cap rate 14.5% 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 falling (-3.2%/yr); 275 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals leasing fast (median 5d 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 $1k 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 $42k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 11y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $62k; list at $150k implies a 140% gain — meaningful room to come down on a strong offer.

Recommended offer $149,950

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: 1.65% ✓
• Cap rate: 14.48%
• Cash-on-cash: 29.26%
• DSCR: 2.30
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $234,320
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
620 112th St SE #163	0.00mi	3/2.0 (+1)	1,553 (-4%)	13mo	$225,000	$145	78
620 112th St SE #33	0.00mi	3/2.0 (+1)	1,715 (+6%)	11mo	$115,000	$67	76
11622 Silver Lake Rd #38	0.28mi	2/2.0	1,560 (-4%)	12mo	$118,500	$76	71
620 112th St SE #189	0.00mi	2/2.0	1,390 (-14%)	8mo	$145,500	$105	70
620 112th St SE #227	0.00mi	3/2.0 (+1)	1,404 (-13%)	4mo	$108,000	$77	70
620 112th St SE #171	0.00mi	3/2.0 (+1)	1,436 (-11%)	16mo	$195,000	$136	63
11500 Meridian Ave S #49	0.64mi	3/2.0 (+1)	1,620 (+0%)	3mo	$245,000	$151	63
12219 Freeway Pl	0.53mi	2/2.0	1,452 (-10%)	12mo	$525,000	$362	48
12030 2nd Dr SE	0.54mi	2/2.0	1,436 (-11%)	10mo	$485,000	$338	48
11500 Meridian Ave S #91	0.64mi	3/2.0 (+1)	1,456 (-10%)	2mo	$226,000	$155	47
12304 SE 10th Dr	0.59mi	3/2.0 (+1)	1,782 (+10%)	15mo	$432,500	$243	38
11500 Meridian Ave S #101	0.64mi	3/3.0 (+1)	1,782 (+10%)	16mo	$170,000	$95	31

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: 20.4%
• Equity multiple: 1.80×
• Total profit: $33,627
• Equity at exit: $22,358

10-year hold

• IRR: 26.6%
• Equity multiple: 3.03×
• Total profit: $85,129
• Equity at exit: $12,965

Cash invested: $41,986 (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: 275
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $2,471 high
• Mortgage (P&I): −$786
• Tax from tax record: −$80 /mo · $954/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$519
• Net cashflow: $1,024

Break-even live

Break-even rent $1,175

Max offer price $149,950

Occupancy floor 54%

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: $37,488
• Closing costs: $4,498
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
515 112th St SE Everett, WA	2.0–3.0	2.0–2.5	1050	$1,726	$1.64	3d	3	0.24mi
11026 Meridian Dr SE Everett, WA	3.0	2.5	1700	$3,000	$1.76	43d	1	0.53mi
4 112th St SW Unit A Everett, WA	3.0	2.5	1661	$3,300	$1.99	43d	1	0.56mi
1301 124th Pl SE Everett, WA	3.0	2.5	1876	$3,500	$1.87	24d	1	0.74mi
1701 121st St SE Everett, WA	1.0–3.0	1.0–2.0	867	$2,354	$2.71	2d	12	0.78mi
10101 7th Ave SE Everett, WA	1.0–3.0	1.0–2.0	1073	$2,277	$2.12	2d	16	0.84mi
305 127th St SE Unit A Everett, WA	2.0	2.5	1456	$2,649	$1.82	43d	1	0.86mi
120 SE Everett Mall Way Everett, WA	1.0–2.0	1.0–2.0	813	$2,172	$2.67	2d	43	0.87mi
2020 Lake Heights Dr Everett, WA	1.0–3.0	1.0–2.0	918	$2,106	$2.29	2d	16	0.88mi
128 127th St SE Everett, WA	3.0	1.0–2.0	884	$2,747	$3.11	2d	10	0.88mi
11225 19th Ave SE Everett, WA	1.0–3.0	1.0–2.0	925	$2,219	$2.40	3d	9	0.90mi
11229 19th Ave SE Everett, WA	3.0	3.5	1900	$3,295	$1.73	20d	1	0.91mi
222 124th St SW Unit A2 Everett, WA	3.0	2.5	1560	$2,975	$1.91	5d	1	0.97mi
12115 19th Ave SE Everett, WA	1.0–3.0	1.0–2.0	884	$2,202	$2.49	2d	11	0.97mi
11311 19th Ave SE Everett, WA	1.0–3.0	1.0–2.0	932	$2,303	$2.47	1d	14	1.00mi
12600 4th Ave W Everett, WA	2.0	2.5	1336	$2,295	$1.72	16d	1	1.16mi
13117 3rd Ave SE Unit J1 Everett, WA	3.0	3.0	1659	$3,249	$1.96	43d	1	1.16mi
9618 19th Ave SE Unit C Everett, WA	3.0	3.0	1637	$3,200	$1.95	10d	1	1.20mi
2601 106th Pl SE Everett, WA	3.0	2.0	1221	$3,245	$2.66	12d	1	1.22mi
13004 Meridian Ave S Everett, WA	1.0–3.0	1.0–2.0	1025	$1,961	$1.91	2d	1	1.24mi
1108 Center Rd Everett, WA	2.0	2.0	1200	$2,150	$1.79	15d	1	1.27mi
13510 N Creek Dr Mill Creek, WA	1.0–4.0	1.0–2.0	1020	$1,642	$1.61	3d	1	1.29mi
11719 12th Ave W Everett, WA	3.0	2.5	1533	$2,800	$1.83	44d	1	1.32mi
11727 12th Ave W #77 Everett, WA	3.0	2.5	1533	$3,100	$2.02	22d	1	1.33mi
10111 9th Ave W Everett, WA	1.0–2.0	1.0–2.5	1098	$2,550	$2.32	5d	4	1.33mi
12522 8th Ave W Everett, WA	1.0–3.0	1.0–2.0	1005	$2,146	$2.13	5d	8	1.35mi
12121 Admiralty Way Everett, WA	1.0–3.0	1.0–2.0	1116	$2,245	$2.01	3d	18	1.40mi
9515 Holly Dr Unit 1 Everett, WA	3.0	2.5	1600	$3,000	$1.88	43d	1	1.41mi
13105 21st Dr SE Everett, WA	2.0	2.0	1070	$1,899	$1.77	4d	4	1.41mi
10115 Holly Dr Everett, WA	1.0–3.0	1.0–2.0	1003	$2,095	$2.09	2d	24	1.43mi
10115 Holly Dr Everett, WA	1.0–3.0	1.0–2.0	1003	$2,278	$2.27	10d	22	1.43mi

Listing history 3 events

1. 2026-06-18
   days on market $149,950 Active 2 DOM
2. 2026-06-17
   remarks 569-char remark
3. 2026-06-17
   listed $149,950 Active 1 DOM

ⓘ 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: $954 · $80/mo
• Projected year-2 tax: $1,470 · $122/mo
• Expected delta: +$515/yr (+$43/mo · 54.0%)

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

Taxation est. · year 1

• Rental income: $29,650
• − Mortgage interest: −$8,400
• − Property taxes: −$954
• − Insurance: −$750
• − Repairs & maintenance: −$2,372
• − Management: −$2,372
• − Depreciation: −$4,362
• Taxable income: $10,441
• Est. tax owed @ 24.0%: −$2,506
• After-tax cash flow: $9,778/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): 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

+115.8% since first listed

9 events — show timeline

• 2026-06-16 Listed $149,950 NWMLS as Distributed by MLS Grid
• 2015-10-22 Delisted — NWMLS as Distributed by MLS Grid
• 2015-10-21 Sold (MLS) $62,500 NWMLS as Distributed by MLS Grid
• 2015-09-26 Pending — NWMLS as Distributed by MLS Grid
• 2015-09-19 Pending — NWMLS as Distributed by MLS Grid
• 2015-08-24 Price Changed $64,500 NWMLS as Distributed by MLS Grid
• 2015-08-08 Relisted — NWMLS as Distributed by MLS Grid
• 2015-08-05 Pending — NWMLS as Distributed by MLS Grid
• 2015-06-01 Listed $69,500 NWMLS as Distributed by MLS Grid

Property tax history

+4.8%/yr

Latest (2026): $954 · -9.1% YoY. Source: county tax records.