9931 18th Ave W #14 · Everett, WA 98204

$195,000

4 bd · 2.0 ba · 1,512 sqft · Manufactured public records · 1 Days on market

Built 2001 Est $200k · at est.

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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
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• ARV discount +8.5/15.0
• 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

Welcome to this spacious and well-maintained 4-bedroom, 2-bath home offering 1,512 square feet in a desirable 55+ community. Situated on a premium corner lot, this home features a large yard with established gardening beds, mature landscaping, and plenty of outdoor space to enjoy. Recent exterior paint and central A/C provide comfort and peace of mind. Inside, you’ll find generous living spaces, a functional floor plan, and abundant natural light throughout. The property also includes a storage shed for added convenience. Conveniently located near shopping, dining, medical facilities, and major commuter routes. A rare opportunity to own one of the larger homes in the community with ex

Key facts

• Premium corner lot
• Large yard
• Outdoor space

Tags

• PREMIUM CORNER LOT
• LARGE YARD
• ESTABLISHED GARDENING BEDS
• MATURE LANDSCAPING
• OUTDOOR SPACE
• NEW ROOF

Property features AI

Finance

• Other: Calculated living area 1512; Double pane windows noted for energy efficiency
• Financial info: Cash listing terms
• HOA & community: Located in Loganberry park; Park approved for sale; Pets allowed — see remarks; Land lease: $745

Exterior

• Parking: Uncovered parking; 3 open parking spaces
• Utilities: Public water; Electric energy source
• Home design: Manufactured double-wide home (Marlette Enchantment); Single level; Manufactured after 06/15/1976; Mobile home remains; Tie down foundation
• Construction: Composition roof; Manufactured construction; Double wide body type
• Exterior features: Patio/porch/deck; Landscaped

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating
• Interior features: Water heater; Skylights; Vaulted ceilings; Ceiling fan(s); Double pane windows; Patio/porch/deck; Bath off primary; Landscaped
• Laundry & utility: Water heater located in bedroom closet; Electric water heater; Storage in building on space

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $195k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $195k).
• Cap rate 12.9% 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; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; 3,982 units permitted in Snohomish County in 2024 (1,492 in 5+ unit buildings).
• At $2,914/mo this rent would consume 51% 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 $1k of loan paydown is wiped out by about $6k 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 $55k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 21y 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 $66k; list at $195k implies a 194% gain — meaningful room to come down on a strong offer.

Recommended offer $195,000

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: 1.49% ✓
• Cap rate: 12.93%
• Cash-on-cash: 23.69%
• DSCR: 2.05
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $199,584
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9931 18th Ave W #13	0.00mi	4/2.0	1,598 (+6%)	8mo	$241,500	$151	84
1427 100th St SW #90	0.20mi	3/2.0 (-1)	1,504 (-0%)	4mo	$120,000	$80	81
1427 100th St SW #57	0.20mi	3/2.0 (-1)	1,568 (+4%)	1mo	$130,000	$83	78
1427 100th St SW #116	0.20mi	3/2.0 (-1)	1,505 (-0%)	9mo	$185,000	$123	78
1427 100th St SW #149	0.20mi	3/2.0 (-1)	1,668 (+10%)	1mo	$278,000	$167	67
10029 Montana Rd	0.27mi	3/2.0 (-1)	1,440 (-5%)	9mo	$375,000	$260	67
9931 18th Ave W #1	0.00mi	3/2.0 (-1)	1,288 (-15%)	9mo	$170,000	$132	63
1427 100th St SW #111	0.20mi	3/2.0 (-1)	1,603 (+6%)	21mo	$160,000	$100	58
9931 18th Ave W #34	0.00mi	3/2.0 (-1)	1,288 (-15%)	17mo	$209,500	$163	56
1427 100th St SW #72	0.20mi	3/2.0 (-1)	1,344 (-11%)	19mo	$226,000	$168	51
1427 100th St SW #118	0.20mi	3/2.0 (-1)	1,296 (-14%)	20mo	$135,000	$104	45

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: 13.5%
• Equity multiple: 1.52×
• Total profit: $28,478
• Equity at exit: $29,075

10-year hold

• IRR: 20.1%
• Equity multiple: 2.47×
• Total profit: $80,059
• Equity at exit: $16,860

Cash invested: $54,600 (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: 5.6×

Monthly cashflow live

• Estimated rent: $2,914 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$121 /mo · $1,448/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$612
• Net cashflow: $1,078

Break-even live

Break-even rent $1,550

Max offer price $195,000

Occupancy floor 58%

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9916 18th Ave W Unit G Everett, WA	3.0	2.0	1569	$2,850	$1.82	17d	1	0.10mi
1826 98th Pl SW Unit B Everett, WA	3.0	2.5	1467	$2,650	$1.81	5d	1	0.11mi
1826 98th Pl SW Unit B Everett, WA	3.0	2.5	1467	$2,650	$1.81	3d	1	0.11mi
10104 Dakota Way Everett, WA	4.0	2.5	1744	$4,195	$2.41	17d	1	0.14mi
9900 12th Ave W Everett, WA	1.0–3.0	1.0–2.0	1033	$2,892	$2.80	2d	15	0.27mi
9327 16th Dr W Everett, WA	3.0	2.5	1708	$3,100	$1.81	43d	1	0.36mi
10115 Holly Dr Everett, WA	1.0–3.0	1.0–2.0	1003	$2,720	$2.71	10d	22	0.43mi
10115 Holly Dr Everett, WA	1.0–3.0	1.0–2.0	1003	$2,720	$2.71	2d	24	0.43mi
2020 Hollow Dale Pl Unit A Everett, WA	3.0	2.5	1525	$2,650	$1.74	43d	1	0.70mi
9515 Holly Dr Unit 1 Everett, WA	3.0	2.5	1600	$3,000	$1.88	43d	1	0.82mi
729 112th St SW Unit B3 Everett, WA	4.0	3.5	2174	$3,395	$1.56	17d	1	0.94mi
2301 116th St SW Unit E Everett, WA	3.0	2.5	1400	$2,595	$1.85	43d	1	1.03mi
11625 Center Rd Unit C Everett, WA	3.0	2.5	1608	$3,200	$1.99	43d	1	1.13mi
11719 12th Ave W Everett, WA	3.0	2.5	1533	$2,800	$1.83	44d	1	1.20mi
11727 12th Ave W #77 Everett, WA	3.0	2.5	1533	$3,100	$2.02	22d	1	1.21mi
12118 Highway 99 Everett, WA	1.0–5.0	1.0–3.0	1117	$2,532	$2.27	2d	5	1.32mi
11026 Meridian Dr SE Everett, WA	3.0	2.5	1700	$3,000	$1.76	43d	1	1.34mi
4 112th St SW Unit A Everett, WA	3.0	2.5	1661	$3,300	$1.99	43d	1	1.35mi
12121 Admiralty Way Everett, WA	1.0–3.0	1.0–2.0	1116	$2,855	$2.56	3d	18	1.37mi
29 112th St SE Everett, WA	4.0	2.5	1957	$3,800	$1.94	43d	1	1.40mi
12402 Admiralty Way Everett, WA	1.0–3.0	1.0–2.0	842	$2,370	$2.81	2d	16	1.49mi

Listing history 2 events

1. 2026-06-18
   remarks 693-char remark
2. 2026-06-18
   listed $195,000 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: $1,448 · $121/mo
• Projected year-2 tax: $1,911 · $159/mo
• Expected delta: +$463/yr (+$39/mo · 32.0%)

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

Taxation est. · year 1

• Rental income: $34,972
• − Mortgage interest: −$10,923
• − Property taxes: −$1,448
• − Insurance: −$975
• − Repairs & maintenance: −$2,798
• − Management: −$2,798
• − Depreciation: −$5,673
• Taxable income: $10,358
• Est. tax owed @ 24.0%: −$2,486
• After-tax cash flow: $10,448/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

+193.7% since first listed

3 events — show timeline

• 2026-06-18 Listed $195,000 NWMLS as Distributed by MLS Grid
• 2005-10-19 Sold (MLS) $66,400 NWMLS as Distributed by MLS Grid
• 2005-08-14 Listed $66,400 NWMLS as Distributed by MLS Grid

Property tax history

+6.0%/yr

Latest (2026): $1,448 · +0.8% YoY. Source: county tax records.