11715 64th St NE · Lake Cassidy, WA 98258

$59,950

2 bd · 2.0 ba · 1,188 sqft · Manufactured public records · 2 Days on market

Built 1991 9,593 sqft lot

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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 +5.8/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover an affordable Lake Stevens opportunity perfect for someone who already owns land or a MH investor looking to add to their portfolio. This 3 bedroom, 2 bath double-wide offers vaulted ceilings and an open-concept layout with kitchen, dining, and living areas all centered at the heart of the home, creating an inviting, flexible gathering space. A thoughtful split-bedroom design places two bedrooms and a full hallway bath on one end and a private primary suite on the other, complete with a large built-in vanity and its own bathroom. The home is situated on leased land with an expired lease agreement and must be removed from the property. All appliances have been removed, and the home

Key facts

• 9,593 sq ft lot
• Built 1991

Property features AI

Finance

• Other: Residential manufactured home property in good condition; Calculated building area: 1,188 sq ft
• Financial info: Listing terms: cash
• HOA & community: Pets allowed: see remarks; Not approved for sale in manufactured home park

Exterior

• Parking: Carport
• Utilities: Electric energy source; Water: see remarks
• Home design: Manufactured double-wide (one level); North-facing
• Construction: Double wide manufactured home; Manufactured after 6/15/1976; Other construction materials; Roof: see remarks; Foundation: see remarks; Built/record year: 1991 (tax year listed)
• Exterior features: Other exterior features

Interior

• Kitchen: Kitchen with eating space
• Bedrooms: 3 bedrooms
• Flooring: Vinyl plank flooring
• Bathrooms: 2 full bathrooms; 2 bathtubs; 2 showers
• Heating & cooling: Heat pump; High-efficiency heating; Has cooling
• Interior features: Vaulted ceilings; Skylights; Bath off primary; Walk-in closet; Family room; Living room; Kitchen with eating space; Utility room
• Laundry & utility: Utility room

🏷️ Possibly a rental listed for sale. The $59,950 price doesn't fit this home's estimated sale value (~$339,768) 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 $60k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $60k).

Location & tenants

• Location reads 60/100 on livability (#466 in WA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A-; Watch: health & safety C-, schools F, amenities F.
• Lake Stevens School District (suburban): math 57% / reading 70% proficiency, ranked #31 of 291 in WA (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents flat; 422 active listings in the ZIP; 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 $414 of loan paydown is wiped out by about $2k 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 + 0.2% rent growth), your $17k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $59,950

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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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?
4. 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.
5. 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.
6. 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: 4.41% ✓
• Cap rate: 40.08%
• Cash-on-cash: 120.65%
• DSCR: 6.37
• GRM: 1.9

CMA / ARV

• ARV (on-the-fly): $339,768
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11811 65th Pl NE	0.10mi	3/1.5 (+1)	1,344 (+13%)	15mo	$384,000	$286	54

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 · 0.19% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.39×
• Total profit: $90,535
• Equity at exit: $8,939

10-year hold

• IRR: —
• Equity multiple: 12.27×
• Total profit: $189,159
• Equity at exit: $5,183

Cash invested: $16,786 (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 98258

• Rents YoY: 0.2%
• Active inventory: 422
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $2,646 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$63 /mo · $754/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$556
• Net cashflow: $1,688

Break-even live

Break-even rent $509

Max offer price $59,950

Occupancy floor 31%

Sensitivity live

Price	-10% $1,722	-5% $1,705	+0% $1,688	+5% $1,671	+10% $1,654
Rent	-10% $1,479	-5% $1,583	+0% $1,688	+5% $1,792	+10% $1,897
Rate	-1.0pp $1,718	-0.5pp $1,703	base $1,688	+0.5pp $1,672	+1.0pp $1,656

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: $14,988
• Closing costs: $1,798
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-03
   days on market $59,950 Active 2 DOM
2. 2026-06-02
   remarks 699-char remark
3. 2026-06-02
   listed $59,950 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: $754 · $63/mo
• Projected year-2 tax: $754 · $63/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: $31,746
• − Mortgage interest: −$3,358
• − Property taxes: −$754
• − Insurance: −$300
• − Repairs & maintenance: −$2,540
• − Management: −$2,540
• − Depreciation: −$1,744
• Taxable income: $20,511
• Est. tax owed @ 24.0%: −$4,923
• After-tax cash flow: $15,330/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: Lake Stevens School District
• NCES district ID: 5304200
• Math proficiency: 57% ▼ -2.00%
• Reading proficiency: 70% ▬ 0.00%
• Median HH income: $78,301
• Composite: 58.12/100
• National rank: #2141
• State rank: #31 of 291 in WA

Livability — Lake Cassidy

• Score: 60/100
• State rank: #466
• US rank: #19141

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Cassidy, WA
• County: Snohomish County · 786,756 people
• City population: 52,005
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 52,752
• Household income: $123,898
• Rent vs Own: 21.5% rent · 78.5% own
• Severe rent burden: 786.0

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 (73%)
• Race & ethnicity: White 73% Hispanic / Latino 12% Two or more races 11% Asian 6% Black 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Portuguese 7% Italian 3% Slovak 2%
• Foreign-born: 10% · Canada, Vietnam, China
• Languages at home: 87% English-only · Spanish 5% Russian/Polish/Slavic 2% Other Indo-European 1%

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: ▼ -725.77%
• Current HPI: 303.8934
• Rent YoY: ▲ 0.19%
• 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

• 2026-06-01 Listed $59,950 NWMLS as Distributed by MLS Grid

Property tax history

+3.6%/yr

Latest (2026): $754 · +0.2% YoY. Source: county tax records.