27929 State Route 9 NE

Bryant, WA 98223

$250,000C+

3 bd · 2.0 ba · 1,920 sqft · Built 2002 · Manufactured · Pending · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,661/mo
• Mortgage (P&I): −$1,311
• Tax + insurance: −$235
• HOA: −$0
• Vac / Maint / Mgmt: −$559
• Net cashflow: $556/mo
• Annual: $6,674/yr
• Cap rate: 8.96%
• Cash-on-cash: 9.53%
• DSCR: 1.42
• 1% rule: 1.06%
• Cash to close: $70,000

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $250k. Condition is rated good.
• At list price, monthly cash flow is $556 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#376 in WA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: health & safety C-, schools D-, amenities F.
• Arlington School District (suburban): math 50% / reading 66% proficiency, ranked #58 of 291 in WA (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.8%/yr); 284 active listings in the ZIP; solid renter incomes; 3,982 units permitted in Snohomish County in 2024 (1,492 in 5+ unit buildings).
• 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 + 4.8% rent growth), your $70k cash investment doubles in ~10 years — after that, you're playing with house money.
• This rent runs 32% of the median local income ($100k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: kitchen cabinets — Aesthetic update needed.
• Minor: bathroom fixtures — Update needed for style and functionality.
• Minor: landscaping — Addition of flowering plants could enhance curb appeal.