620 112th St SE #205 · Everett, WA 98208

$86,000

3 bd · 2.0 ba · 1,244 sqft · Manufactured public records · 17 Days on market

Built 1980 $69/sqft · 33% below area Est $128k · 33% under

---

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 +5.9/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +1.7/5.0
• Appreciation +0.0/10.0

Listing remarks

Not all 55+ communities are created equal. Lago de Plata sets a higher standard and it shows. The grounds are immaculate, the pool and clubhouse are impressive. It is a community that has clearly been cared for by the people who call it home. This 1,244 sq ft single-level home fits right in: 2 bedrooms, a flexible bonus room, 2 full baths, a fireplace for cool Pacific Northwest evenings, a covered front deck for morning coffee, covered parking, and extra storage. Fresh flooring throughout, move right in. With full price offer, seller is covering the first month of space rent, a $1,140 value, so you can settle in without the first month's overhead. Space rent currently $1,140/mo, increasing

Key facts

• Fresh flooring
• Impressive pool
• Extra storage

Tags

• IMPRESSIVE POOL
• FLEXIBLE BONUS ROOM
• COVERED FRONT DECK
• EXTRA STORAGE
• FRESH FLOORING

Property features AI

Finance

• Other: Directions available; Corner location within the community
• Financial info: Listing terms: Cash, Conventional
• HOA & community: Located in a manufactured home park with clubhouse, common area, pool, RV parking and sauna; Park approved for sale; Senior community; Approximately 244 homes in the park; Pets allowed (see remarks); Land lease: $1,450

Exterior

• Parking: Carport
• Utilities: Electric energy source; Public water (billed through park); Sewer via PUD; Internet: Xfinity; Electric water heater
• Home design: Manufactured home (double wide); One level; Faces east; Has a view; Mobile home remains on site
• Construction: Metal/vinyl construction; Composition roof; Tie down foundation; Built as a manufactured home after 6/15/1976
• Exterior features: Corner lot; Paved; Patio/porch/deck; Skirted with vinyl; Metal/vinyl exterior

Interior

• Kitchen: Dishwasher; Stove/Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Vinyl; Carpet
• Bathrooms: 2 full bathrooms; 2 bathtubs; 2 showers
• Heating & cooling: Forced air heating; Forced air cooling
• Interior features: Fireplace (wood burning); Water heater; Double pane windows; Ceiling fan(s); Drapes; Patio/porch/deck; Awnings; Bath off primary; Landscaped
• Laundry & utility: Washer; Dryer; Water heater located in laundry room; Storage by back door

🏷️ Possibly a rental listed for sale. The $86,000 price doesn't fit this home's estimated sale value (~$128,084) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $86k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $86k).
• Recommended offer: $85k (1.5% below list) — sets the bar for market timing.
• Cap rate 23.7% 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); 277 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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 $595 of loan paydown is wiped out by about $3k 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 $24k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($85k) is reasonable based on typical stale-listing flexibility.

Recommended offer $84,710 (1.5% below list)

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: 2.72% ✓
• Cap rate: 23.74%
• Cash-on-cash: 62.33%
• DSCR: 3.77
• GRM: 3.1

CMA / ARV

• ARV (median comp): $128,084
• List price: $86,000
• Delta: -29.77%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
620 112th St SE #218	0.00mi	2/2.0 (-1)	1,272 (+2%)	14mo	$120,000	$94	80
620 112th St SE #227	0.00mi	3/2.0	1,404 (+13%)	4mo	$108,000	$77	75
620 112th St SE #153	0.00mi	2/2.0 (-1)	1,340 (+8%)	12mo	$110,000	$82	72
11622 Silver Lake Rd #70	0.28mi	3/2.0	1,188 (-4%)	9mo	$152,500	$128	72
11622 Silver Lake Rd #84	0.28mi	2/2.0 (-1)	1,248 (+0%)	13mo	$130,000	$104	70
620 112th St SE #305	0.00mi	2/2.0 (-1)	1,160 (-7%)	17mo	$110,000	$95	70
620 112th St SE #189	0.00mi	2/2.0 (-1)	1,390 (+12%)	8mo	$145,500	$105	69
12030 Andrew Sater Rd	0.43mi	2/2.0 (-1)	1,264 (+2%)	6mo	$85,000	$67	67
11622 Silver Lake Rd #58	0.28mi	2/2.0 (-1)	1,344 (+8%)	4mo	$78,000	$58	65
11622 Silver Lake Rd #30	0.28mi	2/2.0 (-1)	1,344 (+8%)	7mo	$150,000	$112	63
11622 Silver Lake Rd #90	0.28mi	2/2.0 (-1)	1,152 (-7%)	10mo	$85,000	$74	62
11500 Meridian Ave S #22	0.64mi	3/2.0	1,290 (+4%)	10mo	$199,000	$154	56

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: 57.8%
• Equity multiple: 3.45×
• Total profit: $58,913
• Equity at exit: $12,823

10-year hold

• IRR: 61.6%
• Equity multiple: 6.30×
• Total profit: $127,565
• Equity at exit: $7,436

Cash invested: $24,080 (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: 277
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $2,335 high
• Mortgage (P&I): −$451
• Tax est. 1.5%: −$108 /mo · $1,290/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$490
• Net cashflow: $1,251

Break-even live

Break-even rent $752

Max offer price $86,000

Occupancy floor 41%

Sensitivity live

Price	-10% $1,310	-5% $1,280	+0% $1,251	+5% $1,221	+10% $1,191
Rent	-10% $1,066	-5% $1,158	+0% $1,251	+5% $1,343	+10% $1,435
Rate	-1.0pp $1,294	-0.5pp $1,273	base $1,251	+0.5pp $1,228	+1.0pp $1,206

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: $21,500
• Closing costs: $2,580
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
525 112th St SE Everett, WA	1.0–2.0	1.0–2.0	1019	$2,416	$2.37	2d	6	0.17mi
1009 112th St SE Everett, WA	2.0	2.0	860	$1,995	$2.32	6d	1	0.20mi
11401 3rd Ave SE Everett, WA	2.0	1.0–2.0	862	$1,892	$2.20	0d	15	0.21mi
515 112th St SE Everett, WA	2.0–3.0	2.0–2.5	1050	$2,345	$2.23	0d	2	0.24mi
11005 16th Ave SE Everett, WA	1.0–2.0	1.0–2.0	841	$2,031	$2.41	0d	5	0.58mi
133 124th St SE Everett, WA	1.0–2.0	1.0–2.0	820	$2,055	$2.50	3d	9	0.69mi
1304 Bruskrud Rd Everett, WA	2.0	1.5–2.0	900	$2,000	$2.22	0d	5	0.71mi
1701 121st St SE Everett, WA	1.0–3.0	1.0–2.0	867	$2,900	$3.34	3d	12	0.78mi
1726 121st St SE Unit A Everett, WA	4.0	2.5	1495	$2,550	$1.71	6d	1	0.84mi
10101 7th Ave SE Everett, WA	1.0–3.0	1.0–2.0	1073	$2,805	$2.61	0d	15	0.84mi
305 127th St SE Unit A Everett, WA	2.0	2.5	1456	$2,649	$1.82	44d	1	0.86mi
120 SE Everett Mall Way Everett, WA	1.0–2.0	1.0–2.0	813	$2,134	$2.62	0d	43	0.87mi
2020 Lake Heights Dr Everett, WA	1.0–3.0	1.0–2.0	918	$2,424	$2.64	0d	14	0.88mi
128 127th St SE Everett, WA	3.0	1.0–2.0	884	$3,296	$3.73	0d	11	0.88mi
11225 19th Ave SE Everett, WA	1.0–3.0	1.0–2.0	925	$2,609	$2.82	0d	10	0.90mi
12115 19th Ave SE Everett, WA	1.0–3.0	1.0–2.0	884	$2,460	$2.78	0d	12	0.97mi
11311 19th Ave SE Everett, WA	1.0–3.0	1.0–2.0	932	$2,623	$2.81	0d	14	1.00mi
923 112th St SW Everett, WA	1.0–3.0	1.0–2.0	858	$2,305	$2.69	3d	24	1.11mi
11207 9th Pl W Everett, WA	2.0	1.0	995	$1,899	$1.91	21d	7	1.14mi
215 100th St SW Everett, WA	2.0	2.0	856	$1,845	$2.16	6d	1	1.15mi
12600 4th Ave W Everett, WA	2.0	2.5	1336	$2,295	$1.72	17d	1	1.16mi
9925 4th Ave W Apt 6 Everett, WA	2.0	2.0	1000	$1,445	$1.45	3d	1	1.16mi
13401 Dumas Rd Mill Creek, WA	1.0–2.0	1.0–2.0	893	$2,277	$2.55	0d	6	1.16mi
2601 106th Pl SE Everett, WA	3.0	2.0	1221	$3,245	$2.66	13d	1	1.22mi
12601 8th Ave W Everett, WA	2.0	1.0	637	$1,839	$2.88	6d	15	1.22mi
222 W Marilyn Ave Everett, WA	3.0	1.0	1000	$2,400	$2.40	17d	1	1.25mi
1108 Center Rd Everett, WA	2.0	2.0	1200	$2,150	$1.79	16d	1	1.27mi
820 124th St SW Apt D Everett, WA	2.0	1.5	960	$1,595	$1.66	6d	1	1.28mi
13510 N Creek Dr Mill Creek, WA	1.0–4.0	1.0–2.0	1020	$2,024	$1.98	4d	1	1.29mi
11812 E Gibson Rd Everett, WA	2.0	2.0	956	$1,814	$1.90	0d	6	1.29mi
10111 9th Ave W Everett, WA	1.0–2.0	1.0–2.5	1098	$2,550	$2.32	6d	4	1.33mi
12522 8th Ave W Everett, WA	1.0–3.0	1.0–2.0	1005	$2,496	$2.48	0d	9	1.35mi
9615 Holly Dr Everett, WA	1.0–2.0	1.0	645	$2,220	$3.44	6d	1	1.38mi
233 Dorn Ave Unit 1 Everett, WA	2.0	1.0	944	$1,950	$2.07	12d	1	1.40mi
12121 Admiralty Way Everett, WA	1.0–3.0	1.0–2.0	1116	$2,855	$2.56	0d	15	1.40mi
13105 21st Dr SE Everett, WA	2.0	2.0	1070	$1,899	$1.77	0d	5	1.41mi
229 Dorn Ave Unit C101 Everett, WA	3.0	2.5	1452	$2,900	$2.00	0d	1	1.41mi
10115 Holly Dr Everett, WA	1.0–3.0	1.0–2.0	1003	$2,720	$2.71	0d	25	1.43mi
10115 Holly Dr Everett, WA	1.0–3.0	1.0–2.0	1003	$2,720	$2.71	11d	22	1.43mi
12906 8th Ave W Everett, WA	2.0	2.0	841	$1,675	$1.99	6d	1	1.44mi

Listing history 18 events

1. 2026-06-21
   days on market $86,000 Active 17 DOM
2. 2026-06-18
   days on market $86,000 Active 14 DOM
3. 2026-06-17
   days on market $86,000 Active 13 DOM
4. 2026-06-16
   days on market $86,000 Active 12 DOM
5. 2026-06-15
   days on market $86,000 Active 11 DOM
6. 2026-06-13
   days on market $86,000 Active 9 DOM
7. 2026-06-13
   days on market $86,000 Active 8 DOM
8. 2026-06-09
   days on market $86,000 Active 5 DOM
9. 2026-06-08
   days on market $86,000 Active 4 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    pricedays on marketlisting id $86,000 Active 3 DOM
12. 2026-06-03
    days on market $89,950 Active 203 DOM
13. 2026-06-02
    days on market $89,950 Active 202 DOM
14. 2026-06-01
    days on market $89,950 Active 201 DOM
15. 2026-05-31
    days on market $89,950 Active 200 DOM
16. 2026-04-17
    price $89,950
17. 2026-02-21
    price $97,000
18. 2025-11-12
    listed $99,950 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $28,026
• − Mortgage interest: −$4,817
• − Property taxes: −$1,290
• − Insurance: −$430
• − Repairs & maintenance: −$2,242
• − Management: −$2,242
• − Depreciation: −$2,502
• Taxable income: $14,502
• Est. tax owed @ 24.0%: −$3,481
• After-tax cash flow: $11,528/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

1 event — show timeline

• 2026-06-04 Listed $86,000 NWMLS as Distributed by MLS Grid