20501 31st Dr SE · Bothell, WA 98012

$350,000

3 bd · 1.0 ba · 1,056 sqft · Manufactured public records · 114 Days on market

Built 1976 6,098 sqft lot $331/sqft · 15% below area Est $410k · 15% under $250/mo HOA · 9% of rent

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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).

• ARV discount +14.1/15.0
• Cash flow +7.9/30.0
• Schools +6.7/10.0
• Livability +4.2/5.0
• Rent growth +3.1/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• DSCR +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Rare opportunity in Bothell! Own the land: deeded lot, not a park lease, no space rent and no age restrictions. Affordable homeownership in Bothell with long-term upside. 1976 double-wide manufactured home on deeded lot with title eliminated. 2 bedrooms, 1 bath, 1,056 sq ft. HOA only $250/month and includes water, Xfinity cable, internet, pool and common area maintenance. Home is ready for cosmetic updates and priced to give the next owner the opportunity to choose their own flooring, paint and finishes before seller completes renovations. Investor alert or ideal starter, downsizing, or rental property. Strong potential for equity growth in a desirable location. Septic system. Convenient to

Key facts

• Deeded lot
• No age restrictions
• No space rent

Tags

• DEEDED LOT
• NO SPACE RENT
• NO AGE RESTRICTIONS
• AFFORDABLE HOMEOWNERSHIP
• COSMETIC UPDATES
• CONVENIENT TO SHOPPING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $350k.

Deal economics

• At list price, monthly cash flow is $-374 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $284k (18.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $272k (22.2% below list).
• Recommended offer: $272k (22.2% below list) — sets the bar for 1% rule.
• Cap rate 5.0% vs local median 1.5% in Bothell — 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 83/100 on livability (#53 in WA, #962 nationally) — a professional / high-income tenant draw. Strengths: schools A+, commute A+, employment A+; Watch: amenities C-, cost of living F.
• Northshore School District (suburban): math 69% / reading 78% proficiency, ranked #9 of 291 in WA (top 3%) — strong family-tenant draw, lease renewals of 3-5y typical; only 12% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+2.4%/yr); 459 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $2k of loan paydown is wiped out by about $10k 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.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($318k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y ago; this cycle's ask has dropped $29k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $105k; list at $350k implies a 233% gain — meaningful room to come down on a strong offer.

Recommended offer $272,258 (22.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. 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?
9. 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.
10. 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.
11. 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: 0.78% ✗
• Cap rate: 5.01%
• Cash-on-cash: -4.57%
• DSCR: 0.80
• GRM: 10.7

CMA / ARV

• ARV (median comp): $409,893
• List price: $350,000
• Delta: -14.61%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3332 207th Pl SE #27	0.22mi	2/2.0 (-1)	1,000 (-5%)	11mo	$275,000	$275	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 · 2.37% rent growth · sell at horizon

5-year hold

• IRR: -24.7%
• Equity multiple: 0.16×
• Total profit: $-82,115
• Equity at exit: $52,186

10-year hold

• IRR: -22.4%
• Equity multiple: -0.11×
• Total profit: $-108,658
• Equity at exit: $30,262

Cash invested: $98,000 (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 98012

• Rents YoY: 2.4%
• Active inventory: 459
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,723 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$293 /mo · $3,517/yr
• Insurance: −$146
• HOA: −$250
• Vacancy / Maint / Mgmt: −$572
• Net cashflow: $-374

Break-even live

Break-even rent $3,195

Max offer price $284,012

Occupancy floor —

Sensitivity live

Price	-10% $-175	-5% $-274	+0% $-374	+5% $-473	+10% $-572
Rent	-10% $-589	-5% $-481	+0% $-374	+5% $-266	+10% $-158
Rate	-1.0pp $-197	-0.5pp $-285	base $-374	+0.5pp $-464	+1.0pp $-557

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20707 31st Dr SE Bothell, WA	2.0	2.0	1334	$2,740	$2.05	19d	1	0.15mi
20225 Bothell Everett Hwy Bothell, WA	1.0–3.0	1.0–2.0	893	$2,947	$3.30	0d	36	0.58mi
2129 Maltby Rd Bothell, WA	3.0	2.0	1207	$2,195	$1.82	0d	3	0.59mi
19611 24th Dr SE Unit A Bothell, WA	2.0	1.0	850	$1,700	$2.00	45d	1	0.68mi
20520 Bothell Everett Hwy Bothell, WA	1.0–2.0	1.0–2.0	845	$2,317	$2.74	3d	9	0.82mi
19905 Bothell Everett Hwy Bothell, WA	3.0	1.0–3.0	1244	$3,595	$2.89	0d	1	0.83mi
20310 Bothell Everett Hwy Bothell, WA	2.0–3.0	1.5–2.5	1195	$2,880	$2.41	45d	1	0.83mi
19011 Grannis Rd Bothell, WA	3.0	1.0	1296	$3,200	$2.47	0d	1	0.88mi
2009 196th St SE Bothell, WA	2.0	2.0	1017	$2,355	$2.32	45d	1	0.89mi
19324 22nd Ave SE #4 Bothell, WA	3.0	2.5	1195	$2,950	$2.47	25d	1	0.91mi
19928 Bothell Everett Hwy Bothell, WA	1.0–2.0	1.0–2.0	813	$2,309	$2.84	0d	12	0.95mi
1730 196th St SE Bothell, WA	1.0–3.0	1.0–2.0	924	$2,990	$3.23	0d	1	1.00mi
21623 16th Dr SE Bothell, WA	1.0–3.0	1.0–2.0	990	$3,175	$3.21	0d	11	1.20mi
1910 189th Pl SE Bothell, WA	2.0	2.0	1082	$2,395	$2.21	21d	1	1.25mi
18930 Bothell Everett Hwy Unit V101 Bothell, WA	2.0	2.0	980	$2,225	$2.27	6d	1	1.26mi
18930 Bothell Everett Hwy Bothell, WA	1.0–2.0	1.0–2.0	933	$2,325	$2.49	19d	3	1.29mi
18930 Bothell Everett Hwy Bothell, WA	1.0–2.0	1.0–2.0	933	$2,225	$2.38	16d	3	1.29mi
1805 186th Pl SE Bothell, WA	1.0–3.0	1.0–2.0	1043	$2,779	$2.66	0d	13	1.41mi
20532 Greening Rd Unit A Bothell, WA	2.0	1.0	780	$2,400	$3.08	45d	1	1.45mi
2207 227th St SE Bothell, WA	1.0–3.0	1.0–2.0	846	$2,757	$3.26	0d	8	1.48mi

HOA detail

• Monthly dues: $250 · $3,000/yr
• Likely covers: waterinternetcablepool

Listing history 25 events

1. 2026-06-21
   days on market $350,000 Active 114 DOM
2. 2026-06-18
   days on market $350,000 Active 111 DOM
3. 2026-06-17
   days on market $350,000 Active 110 DOM
4. 2026-06-16
   days on market $350,000 Active 109 DOM
5. 2026-06-15
   days on market $350,000 Active 108 DOM
6. 2026-06-13
   days on market $350,000 Active 106 DOM
7. 2026-06-13
   days on market $350,000 Active 105 DOM
8. 2026-06-09
   days on market $350,000 Active 102 DOM
9. 2026-06-08
   days on market $350,000 Active 101 DOM
10. 2026-06-07
    days on market $350,000 Active 100 DOM
11. 2026-06-04
    days on market $350,000 Active 97 DOM
12. 2026-06-03
    days on market $350,000 Active 96 DOM
13. 2026-06-02
    days on market $350,000 Active 95 DOM
14. 2026-06-01
    days on market $350,000 Active 94 DOM
15. 2026-05-31
    days on market $350,000 Active 93 DOM
16. 2026-04-28
    price $350,000
17. 2026-04-02
    price $365,000
18. 2026-03-27
    price $375,000
19. 2026-02-27
    listed $379,000 Active
20. 2013-10-01
    historical
21. 2013-10-01
    soldstatus $105,000 Sold
22. 2013-10-01
    soldstatus $105,000
23. 2013-06-08
    status Pending
24. 2013-05-03
    listed $129,950 Active
25. 1984-04-04
    soldstatus $44,000

ⓘ 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: $3,517 · $293/mo
• Projected year-2 tax: $3,517 · $293/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 5 d/yr ≥86°F today · 11 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 9 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,671
• − Mortgage interest: −$19,605
• − Property taxes: −$3,517
• − Insurance: −$1,750
• − Repairs & maintenance: −$2,614
• − Management: −$2,614
• − HOA: −$3,000
• − Depreciation: −$10,182
• Taxable loss: −$10,611
• Est. tax savings @ 24.0%: +$2,547
• After-tax cash flow: $-1,936/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: Northshore School District
• NCES district ID: 5305910
• Math proficiency: 69% ▼ -3.00%
• Reading proficiency: 78% ▼ -1.00%
• Median HH income: $92,951
• Composite: 67.41/100
• National rank: #826
• State rank: #9 of 291 in WA

Livability — Bothell

• Score: 83/100
• State rank: #53
• US rank: #962

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bothell, WA
• County: Snohomish County · 786,756 people
• City population: 141,635
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 77,041
• Household income: $146,144
• Rent vs Own: 33.6% rent · 66.4% own
• Severe rent burden: 1904.0

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 51% Asian 28% Hispanic / Latino 10% Two or more races 9% Black 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Portuguese 4% Italian 3% Slovak 2%
• Foreign-born: 29% · Canada, China, South Korea
• Languages at home: 65% English-only · Other Asian/Pacific 8% Other Indo-European 7% Spanish 6%

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: ▼ -780.30%
• Current HPI: 366.3746
• Rent YoY: ▲ 2.37%
• 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

+695.5% since first listed

10 events — show timeline

• 2026-04-28 Price Changed $350,000 NWMLS as Distributed by MLS Grid
• 2026-04-02 Price Changed $365,000 NWMLS as Distributed by MLS Grid
• 2026-03-27 Price Changed $375,000 NWMLS as Distributed by MLS Grid
• 2026-02-27 Listed $379,000 NWMLS as Distributed by MLS Grid
• 2013-10-01 Delisted — NWMLS as Distributed by MLS Grid
• 2013-10-01 Sold (Public Records) $105,000 Public Records
• 2013-10-01 Sold (MLS) $105,000 NWMLS as Distributed by MLS Grid
• 2013-06-08 Pending — NWMLS as Distributed by MLS Grid
• 2013-05-03 Listed $129,950 NWMLS as Distributed by MLS Grid
• 1984-04-04 Sold (Public Records) $44,000 Public Records

Property tax history

+27.5%/yr

Latest (2026): $3,517 · -2.2% YoY. Source: county tax records.