1427 100th St SW #127 · Everett, WA 98204

$125,000

3 bd · 2.0 ba · 1,766 sqft · Manufactured public records · 93 Days on market

Built 1986 30 ac lot $71/sqft · 27% below area Est $171k · 27% 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

Check out this excellent option for downsizing in the gated Fairway Estates 55+ community. Largest model currently listed in the park. There is plenty of space in this floorplan with a formal living room and a family room for lounging. There is brand new laminate flooring and clean plush carpet in the formal living room and in the primary suite. This home has been well taken care of and is in great shape inside and out. The large floorplan makes downsizing painless as you will have plenty of space with almost 1800 sf. The community offers clubhouse, gazebo, BBQ area, kitchen, coffee bar, fitness center, and most importantly social activities going on each and every month. Looking for a safe

Key facts

• Clean plush carpet
• Clubhouse
• Family room

Tags

• GATED FAIRWAY ESTATES
• FORMAL LIVING ROOM
• FAMILY ROOM
• BRAND NEW LAMINATE FLOORING
• CLEAN PLUSH CARPET
• CLUBHOUSE

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 ($18k/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: $114k (9.0% below list) — sets the bar for market timing.
• Cap rate 20.4% 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; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 $2,877/mo this rent would consume 50% 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 93 days — a 9% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 20y ago; this cycle's ask has dropped $15k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $95k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $113,750 (9.0% below list)

Questions for the listing agent

1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 2.30% ✓
• Cap rate: 20.37%
• Cash-on-cash: 50.26%
• DSCR: 3.24
• GRM: 3.6

CMA / ARV

• ARV (median comp): $170,692
• List price: $125,000
• Delta: -26.77%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1427 100th St SW #154	0.00mi	3/2.0	1,790 (+1%)	1mo	$145,000	$81	96
1427 100th St SW #39	0.00mi	3/2.0	1,774 (+0%)	3mo	$260,000	$147	96
1427 100th St SW #32	0.00mi	3/2.0	1,754 (-1%)	7mo	$164,000	$94	93
1427 100th St SW #149	0.00mi	3/2.0	1,668 (-6%)	1mo	$278,000	$167	90
1427 100th St SW #166	0.00mi	3/2.0	1,848 (+5%)	4mo	$135,000	$73	89
1427 100th St SW #48	0.00mi	3/2.0	1,782 (+1%)	15mo	$200,000	$112	86
1427 100th St SW #103	0.00mi	3/2.0	1,774 (+0%)	21mo	$200,000	$113	82
1427 100th St SW #57	0.00mi	3/2.0	1,568 (-11%)	1mo	$130,000	$83	80
1427 100th St SW #27	0.00mi	2/2.0 (-1)	1,560 (-12%)	1mo	$225,000	$144	75
1427 100th St SW #90	0.00mi	3/2.0	1,504 (-15%)	4mo	$120,000	$80	72
1427 100th St SW #116	0.00mi	3/2.0	1,505 (-15%)	9mo	$185,000	$123	68
9931 18th Ave W #13	0.20mi	4/2.0 (+1)	1,598 (-10%)	8mo	$241,500	$151	63

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: 44.6%
• Equity multiple: 2.85×
• Total profit: $64,691
• Equity at exit: $18,638

10-year hold

• IRR: 49.2%
• Equity multiple: 5.11×
• Total profit: $144,008
• 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: 3.6×

Monthly cashflow live

• Estimated rent: $2,877 high
• Mortgage (P&I): −$656
• Tax from tax record: −$99 /mo · $1,192/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$604
• Net cashflow: $1,466

Break-even live

Break-even rent $1,021

Max offer price $125,000

Occupancy floor 44%

Sensitivity live

Price	-10% $1,537	-5% $1,501	+0% $1,466	+5% $1,431	+10% $1,395
Rent	-10% $1,239	-5% $1,352	+0% $1,466	+5% $1,580	+10% $1,693
Rate	-1.0pp $1,529	-0.5pp $1,498	base $1,466	+0.5pp $1,434	+1.0pp $1,401

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 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9900 12th Ave W Everett, WA	1.0–3.0	1.0–2.0	1033	$2,892	$2.80	0d	14	0.16mi
9327 16th Dr W Everett, WA	3.0	2.5	1708	$3,100	$1.81	45d	1	0.22mi
1826 98th Pl SW Unit B Everett, WA	3.0	2.5	1467	$2,650	$1.81	4d	1	0.25mi
1826 98th Pl SW Unit B Everett, WA	3.0	2.5	1467	$2,650	$1.81	6d	1	0.25mi
9916 18th Ave W Unit G Everett, WA	3.0	2.0	1569	$2,850	$1.82	18d	1	0.27mi
10104 Dakota Way Everett, WA	4.0	2.5	1744	$4,195	$2.41	18d	1	0.30mi
1309 102nd Pl SW Unit N/A Everett, WA	3.0	2.5	1860	$3,295	$1.77	0d	1	0.36mi
10115 Holly Dr Everett, WA	1.0–3.0	1.0–2.0	1003	$2,720	$2.71	0d	25	0.39mi
10115 Holly Dr Everett, WA	1.0–3.0	1.0–2.0	1003	$2,720	$2.71	11d	22	0.39mi
10111 9th Ave W Everett, WA	1.0–2.0	1.0–2.5	1098	$2,550	$2.32	6d	4	0.48mi
9515 Holly Dr Unit 1 Everett, WA	3.0	2.5	1600	$3,000	$1.88	45d	1	0.66mi
2020 Hollow Dale Pl Unit A Everett, WA	3.0	2.5	1525	$2,650	$1.74	45d	1	0.87mi
729 112th St SW Unit B3 Everett, WA	4.0	3.5	2174	$3,395	$1.56	18d	1	0.97mi
2301 116th St SW Unit E Everett, WA	3.0	2.5	1400	$2,595	$1.85	45d	1	1.21mi
229 Dorn Ave Unit C101 Everett, WA	3.0	2.5	1452	$2,900	$2.00	0d	1	1.22mi
11703 10th Pl W Everett, WA	4.0	2.5	2465	$4,100	$1.66	19d	1	1.27mi
11625 Center Rd Unit C Everett, WA	3.0	2.5	1608	$3,200	$1.99	45d	1	1.30mi
11026 Meridian Dr SE Everett, WA	3.0	2.5	1700	$3,000	$1.76	45d	1	1.31mi
11719 12th Ave W Everett, WA	3.0	2.5	1533	$2,800	$1.83	45d	1	1.31mi
11727 12th Ave W #77 Everett, WA	3.0	2.5	1533	$3,100	$2.02	23d	1	1.32mi
4 112th St SW Unit A Everett, WA	3.0	2.5	1661	$3,300	$1.99	45d	1	1.33mi
29 112th St SE Everett, WA	4.0	2.5	1957	$3,800	$1.94	45d	1	1.38mi
12121 Admiralty Way Everett, WA	1.0–3.0	1.0–2.0	1116	$2,855	$2.56	0d	15	1.48mi
12118 Highway 99 Everett, WA	1.0–5.0	1.0–3.0	1117	$2,236	$2.00	3d	5	1.48mi

Listing history 5 events

1. 2026-03-09
   status Active
2. 2026-03-04
   status Pending
3. 2026-02-17
   listed $140,000 Active
4. 2006-09-27
   soldstatus $95,000
5. 2006-08-25
   listed $105,000

ⓘ 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: $1,192 · $99/mo
• Projected year-2 tax: $1,225 · $102/mo
• Expected delta: +$33/yr (+$3/mo · 2.7%)

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

Taxation est. · year 1

• Rental income: $34,526
• − Mortgage interest: −$7,002
• − Property taxes: −$1,192
• − Insurance: −$625
• − Repairs & maintenance: −$2,762
• − Management: −$2,762
• − Depreciation: −$3,636
• Taxable income: $16,546
• Est. tax owed @ 24.0%: −$3,971
• After-tax cash flow: $13,621/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

• Census place: Everett, WA
• 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

+33.3% since first listed

5 events — show timeline

• 2026-03-09 Relisted — NWMLS as Distributed by MLS Grid
• 2026-03-04 Pending — NWMLS as Distributed by MLS Grid
• 2026-02-17 Listed $140,000 NWMLS as Distributed by MLS Grid
• 2006-09-27 Sold (MLS) $95,000 NWMLS as Distributed by MLS Grid
• 2006-08-25 Listed $105,000 NWMLS as Distributed by MLS Grid

Property tax history

+3.0%/yr

Latest (2026): $1,192 · -10.3% YoY. Source: county tax records.