1415 84th St SE #139 · Everett, WA 98208

$40,000

2 bd · 2.0 ba · 1,392 sqft · Manufactured public records · 281 Days on market

Built 1970 24 ac lot $29/sqft · 70% 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 +5.9/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +1.7/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to the amazing 55+ Community of Mobile Estates! This 1,392 sqft, 2 bed / 1.75 bath home lives LARGE! Light & bright open floor plan. Large living room has pellet stove to keep electric bill low. Kitchen w/ pantry & dining room. Primary w/ attached 3/4 bath. All appliances stay with home. Fully covered porch & carport. Fully fenced yard w/ 2 sheds for all your storage needs. Exceptionally maintained & active community offers clubhouse with pool, gym, and spacious recreation area. Hobby shop for tinkering. Car wash area for cleaning, RV Parking lot. Pet friendly w/ dog park area. Close to all amenities & walking distance to Interurban Trail. Commuting is

Key facts

• Open floor plan
• Clubhouse
• Pellet stove

Tags

• OPEN FLOOR PLAN
• PELLET STOVE
• FULLY COVERED PORCH
• FULLY FENCED YARD
• 2 SHEDS
• CLUBHOUSE

🏷️ Possibly a rental listed for sale. The $40,000 price doesn't fit this home's estimated sale value (~$134,285) 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 $2k ($19k/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: $35k (12.0% below list) — sets the bar for market timing.
• Cap rate 53.2% 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 falling (-3.2%/yr); 275 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals leasing fast (median 10d 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 $277 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 + 0.0% 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 281 days — a 12% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $85k (68%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $35,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 281 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — 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 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?
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: 5.69% ✓
• Cap rate: 53.17%
• Cash-on-cash: 167.40%
• DSCR: 8.45
• GRM: 1.5

CMA / ARV

• ARV (median comp): $134,285
• List price: $40,000
• Delta: -70.21%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1415 84th St SE #205	0.00mi	2/2.0	1,426 (+2%)	2mo	$128,000	$90	94
1415 84th St SE #172	0.00mi	2/2.0	1,424 (+2%)	3mo	$80,000	$56	93
1415 84th St SE #17	0.00mi	2/2.0	1,368 (-2%)	13mo	$197,950	$145	86
1415 84th St SE #192	0.00mi	2/2.0	1,340 (-4%)	9mo	$150,000	$112	86
1415 84th St SE #197	0.00mi	2/2.0	1,440 (+3%)	12mo	$115,000	$80	84
1415 84th St SE #176	0.00mi	2/2.0	1,436 (+3%)	13mo	$186,000	$130	84
1415 84th St SE #63	0.00mi	2/2.0	1,344 (-3%)	13mo	$130,000	$97	83
1415 84th St SE #104	0.00mi	2/2.0	1,242 (-11%)	1mo	$75,000	$60	81
1415 84th St SE #45	0.00mi	2/2.0	1,240 (-11%)	10mo	$65,000	$52	74
1415 84th St SE #11	0.00mi	2/2.0	1,200 (-14%)	8mo	$145,000	$121	70
1415 84th St SE #80	0.00mi	2/2.0	1,194 (-14%)	7mo	$140,000	$117	70
1415 84th St SE #97	0.00mi	2/2.0	1,240 (-11%)	16mo	$110,000	$89	69

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: —
• Equity multiple: 8.71×
• Total profit: $86,372
• Equity at exit: $5,964

10-year hold

• IRR: —
• Equity multiple: 16.86×
• Total profit: $177,617
• 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 98208

• Rents YoY: -3.2%
• Active inventory: 275
• Price-to-rent: 1.5×

Monthly cashflow live

• Estimated rent: $2,275 high
• Mortgage (P&I): −$210
• Tax from tax record: −$8 /mo · $102/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$478
• Net cashflow: $1,562

Break-even live

Break-even rent $297

Max offer price $40,000

Occupancy floor 26%

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 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1224 Kossuth Ave Everett, WA	2.0	1.0	1375	$2,700	$1.96	20d	1	0.44mi
9618 19th Ave SE Unit C Everett, WA	3.0	3.0	1637	$3,200	$1.95	10d	1	0.68mi
233 Dorn Ave Unit 1 Everett, WA	2.0	1.0	944	$1,950	$2.07	11d	1	0.74mi
8102 Evergreen Way Everett, WA	1.0–5.0	1.0–2.0	1390	$2,269	$1.63	1d	17	0.75mi
115 Dorn Ave Everett, WA	2.0	1.0–2.0	946	$1,738	$1.84	16d	1	0.80mi
618 75th St SE Everett, WA	3.0	2.0	1232	$2,400	$1.95	11d	1	0.86mi
1915 75th St SE Unit 1H Everett, WA	3.0	1.5	1300	$2,500	$1.92	24d	1	0.89mi
10101 7th Ave SE Everett, WA	1.0–3.0	1.0–2.0	1073	$2,277	$2.12	2d	16	0.90mi
701 75th St SE Everett, WA	1.0–3.0	1.0	820	$1,850	$2.26	5d	5	0.92mi
120 W Casino Rd Everett, WA	1.0–2.0	1.0–1.5	818	$1,993	$2.43	2d	13	1.00mi
2319 75th St SE Everett, WA	3.0	2.0	1112	$2,745	$2.47	24d	1	1.00mi
1304 Bruskrud Rd Everett, WA	2.0	1.5–2.0	900	$2,076	$2.31	5d	5	1.03mi
120 SE Everett Mall Way Everett, WA	1.0–2.0	1.0–2.0	813	$2,172	$2.67	2d	43	1.13mi
6911 Rainier Dr Unit 11-03 Everett, WA	2.0	1.5	1008	$1,695	$1.68	24d	1	1.13mi
6911 Rainier Dr Unit 11-07 Everett, WA	2.0	1.5	1008	$2,095	$2.08	5d	1	1.13mi
222 W Marilyn Ave Everett, WA	3.0	1.0	1000	$2,400	$2.40	16d	1	1.25mi
8710 5th Ave W Everett, WA	2.0	2.0	950	$2,050	$2.16	2d	11	1.28mi
8530 5th Ave W Everett, WA	1.0–2.0	1.0	808	$1,595	$1.97	5d	2	1.28mi
9515 Holly Dr Unit 1 Everett, WA	3.0	2.5	1600	$3,000	$1.88	43d	1	1.32mi
6609 Cady Rd Unit 2 Everett, WA	2.0	1.5	1386	$2,225	$1.61	24d	1	1.34mi
702 W Casino Rd Everett, WA	1.0–2.0	1.0–1.5	850	$1,749	$2.06	5d	21	1.36mi
9925 4th Ave W Apt 6 Everett, WA	2.0	2.0	1000	$1,445	$1.45	2d	1	1.39mi
2505 Madison St Unit A Everett, WA	3.0	1.0	1040	$2,800	$2.69	24d	1	1.39mi
2601 106th Pl SE Everett, WA	3.0	2.0	1221	$3,245	$2.66	12d	1	1.45mi
2517 Howard Ave Everett, WA	2.0–3.0	1.0	900	$1,645	$1.83	20d	2	1.48mi
10011 33rd Ave SE Unit B Everett, WA	3.0	2.5	1650	$2,850	$1.73	3d	1	1.49mi
10011 33rd Ave SE Unit A & Everett, WA	3.0	2.5	1625	$2,850	$1.75	3d	1	1.49mi

Listing history 18 events

1. 2026-06-16
   status $40,000 Pending 281 DOM
2. 2026-06-15
   days on market $40,000 Active 281 DOM
3. 2026-06-13
   days on market $40,000 Active 279 DOM
4. 2026-06-13
   days on market $40,000 Active 278 DOM
5. 2026-06-09
   days on market $40,000 Active 275 DOM
6. 2026-06-08
   days on market $40,000 Active 274 DOM
7. 2026-06-07
   days on market $40,000 Active 273 DOM
8. 2026-06-04
   days on market $40,000 Active 270 DOM
9. 2026-06-03
   days on market $40,000 Active 269 DOM
10. 2026-06-02
    days on market $40,000 Active 268 DOM
11. 2026-06-01
    days on market $40,000 Active 267 DOM
12. 2026-05-31
    days on market $40,000 Active 266 DOM
13. 2026-05-19
    price $40,000
14. 2026-04-29
    status Active
15. 2026-04-23
    status Pending
16. 2026-04-09
    price $65,000
17. 2025-11-06
    price $80,000
18. 2025-09-02
    listed $125,000 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: $102 · $8/mo
• Projected year-2 tax: $392 · $33/mo
• Expected delta: +$290/yr (+$24/mo · 285.4%)

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

Taxation est. · year 1

• Rental income: $27,301
• − Mortgage interest: −$2,241
• − Property taxes: −$102
• − Insurance: −$200
• − Repairs & maintenance: −$2,184
• − Management: −$2,184
• − Depreciation: −$1,164
• Taxable income: $19,227
• Est. tax owed @ 24.0%: −$4,615
• After-tax cash flow: $14,135/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

-68.0% since first listed

6 events — show timeline

• 2026-05-19 Price Changed $40,000 NWMLS as Distributed by MLS Grid
• 2026-04-29 Relisted — NWMLS as Distributed by MLS Grid
• 2026-04-23 Pending — NWMLS as Distributed by MLS Grid
• 2026-04-09 Price Changed $65,000 NWMLS as Distributed by MLS Grid
• 2025-11-06 Price Changed $80,000 NWMLS as Distributed by MLS Grid
• 2025-09-02 Listed $125,000 NWMLS as Distributed by MLS Grid

Property tax history

-11.0%/yr

Latest (2019): $102 · -2.6% YoY. Source: county tax records.