5220 176th St SW Unit Sp 46 · Lynnwood, WA 98037

$79,950

2 bd · 2.0 ba · 800 sqft · Manufactured public records · 108 Days on market

Built 1972 $100/sqft · 33% above area Est $60k · 33% over

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Why this score? — see what drove the C+ 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.4/10.0
• Livability +3.9/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

South Lynnwood Senior Park, Vacant, 2 Bedroom, 800 Sq Ft double-wide, recent updates include: New, 25 year, TPO Roof, Vinyl windows and Pex-plumbing & main panel, 200-amp breaker box was replaced in 2025. Home has roomy semi-private back yard w/ patio area, covered Parking and 2 storage sheds. Interior features include open, end wall living room floorplan w/ good natural lighting, Updated windows & Kitchen cabinets, appliances, and walk-in closet & large shower. Owner, (18 years) has done a good job recently updating the most expensive components of the home. Lot rent is only $972 ( wtr/swr/garb. incl-d). Located minutes from Hwy 99 (medical, restaurants and transit), plus

Key facts

• 200 amp breaker box
• Vinyl windows
• Pex plumbing

Tags

• TPO ROOF
• VINYL WINDOWS
• PEX PLUMBING
• 200 AMP BREAKER BOX
• SEMI-PRIVATE BACK YARD
• PATIO AREA

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $80k.

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 $80k).
• Recommended offer: $73k (9.0% below list) — sets the bar for market timing.
• Cap rate 24.5% vs local median 2.2% in Lynnwood — 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 77/100 on livability (#150 in WA, #3,226 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, employment A; Watch: crime F, cost of living F.
• Edmonds School District (suburban): math 54% / reading 65% proficiency, ranked #53 of 291 in WA (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.4%/yr); 173 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 5d 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 $552 of loan paydown is wiped out by about $2k 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 + 1.4% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($73k) is reasonable based on typical stale-listing flexibility.

Recommended offer $72,754 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is F 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?
6. 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.
7. 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.
8. 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: 2.67% ✓
• Cap rate: 24.47%
• Cash-on-cash: 64.91%
• DSCR: 3.89
• GRM: 3.1

CMA / ARV

• ARV (median comp): $60,243
• List price: $79,950
• Delta: 32.71%
• Verdict: OVERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5220 176th St SW #8	0.00mi	2/1.0	784 (-2%)	6mo	$60,000	$77	87
5220 176th St SW #27	0.00mi	2/1.0	840 (+5%)	7mo	$52,500	$63	82
5001 180th St SW #33	0.21mi	2/1.0	791 (-1%)	9mo	$92,000	$116	77
5001 180th St SW #30	0.21mi	2/1.0	791 (-1%)	15mo	$100,000	$126	72
5001 180th St SW #28	0.21mi	2/1.0	791 (-1%)	16mo	$116,700	$148	71
5001 180th St SW #29	0.21mi	2/1.0	784 (-2%)	17mo	$63,000	$80	69
18501 52nd Ave W #37	0.52mi	2/1.0	784 (-2%)	6mo	$35,000	$45	64
17410 52nd Ave W #10	0.19mi	2/1.0	708 (-12%)	15mo	$70,000	$99	55
18501 52nd Ave W #15	0.52mi	2/1.0	840 (+5%)	14mo	$111,000	$132	52
18501 52nd Ave W #41	0.52mi	2/1.0	840 (+5%)	15mo	$20,000	$24	51
18501 52nd Ave W #88	0.52mi	2/2.0	902 (+13%)	6mo	$129,800	$144	50
5717 186th Pl SW #7	0.59mi	2/1.0	720 (-10%)	13mo	$127,000	$176	41

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 · 1.37% rent growth · sell at horizon

5-year hold

• IRR: 62.3%
• Equity multiple: 3.71×
• Total profit: $60,709
• Equity at exit: $11,921

10-year hold

• IRR: 66.3%
• Equity multiple: 7.18×
• Total profit: $138,440
• Equity at exit: $6,913

Cash invested: $22,386 (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 98037

• Rents YoY: 1.4%
• Active inventory: 173
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $2,132 high
• Mortgage (P&I): −$419
• Tax from tax record: −$21 /mo · $248/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$448
• Net cashflow: $1,211

Break-even live

Break-even rent $599

Max offer price $79,950

Occupancy floor 38%

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: $19,988
• Closing costs: $2,398
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17422 52nd Ave W Lynnwood, WA	2.0	1.5	850	$1,960	$2.31	24d	1	0.17mi
4816 176th St SW Lynnwood, WA	1.0–2.0	1.0–1.5	802	$1,970	$2.45	2d	6	0.23mi
4702 176th St SW Lynnwood, WA	1.0–2.0	1.0	886	$1,925	$2.17	2d	8	0.29mi
5419 172nd Pl SW Lynnwood, WA	3.0	2.0	980	$2,895	$2.95	24d	1	0.36mi
4502 176th St SW Unit 2 Lynnwood, WA	2.0	2.0	1004	$2,195	$2.19	43d	1	0.38mi
4432 176th St SW Unit 3 Lynnwood, WA	2.0	2.0	1004	$2,195	$2.19	43d	1	0.41mi
4432 176th St SW Unit 2 Lynnwood, WA	2.0	2.0	1004	$2,195	$2.19	23d	1	0.41mi
18400 52nd Ave W Lynnwood, WA	2.0	1.0	1092	$1,995	$1.83	43d	1	0.42mi
4428 176th St SW Unit 4 Lynnwood, WA	2.0	2.0	1004	$2,195	$2.19	23d	1	0.44mi
17828 44th Ave W Unit 2 Lynnwood, WA	2.0	2.0	750	$2,100	$2.80	43d	1	0.45mi
4410 176th St SW Lynnwood, WA	1.0–2.0	1.0	770	$1,850	$2.40	4d	3	0.47mi
5620 183rd St SW Lynnwood, WA	1.0–2.0	1.0	787	$2,075	$2.63	2d	2	0.48mi
5624 183rd St SW Lynnwood, WA	1.0–2.0	1.0	787	$2,100	$2.67	4d	2	0.50mi
17529 44th Ave W Lynnwood, WA	2.0	1.0	1000	$2,395	$2.40	3d	1	0.52mi
17314 44th Ave W Unit C Lynnwood, WA	2.0	1.5	1000	$2,200	$2.20	17d	1	0.53mi
18534 52nd Ave W Lynnwood, WA	2.0	2.0	1100	$2,295	$2.09	1d	1	0.56mi
5707 186th Pl SW Unit 4-PLEX 1 Lynnwood, WA	2.0	2.0	1000	$2,135	$2.13	24d	1	0.58mi
5311 188th St SW Lynnwood, WA	2.0	1.5	1004	$2,500	$2.49	43d	1	0.65mi
16604 48th Ave W Lynnwood, WA	1.0–3.0	1.0–2.0	890	$2,162	$2.43	2d	9	0.70mi
16308 52nd Ave W Unit 4 Edmonds, WA	2.0	1.0	900	$1,795	$1.99	10d	1	0.89mi
18124 36th Ave W Lynnwood, WA	1.0–2.0	1.0–2.0	821	$2,155	$2.62	2d	8	1.01mi
4525 164th St SW Lynnwood, WA	2.0–3.0	1.0–2.0	1093	$1,902	$1.74	1d	13	1.03mi
18031 36th Ave W Lynnwood, WA	1.0–2.0	1.0–2.0	760	$2,186	$2.88	2d	6	1.05mi
4217 164th St SW Unit A204 Lynnwood, WA	3.0	2.0	1100	$2,450	$2.23	43d	1	1.12mi
18505 36th Ave W Lynnwood, WA	1.0–2.0	1.0–2.0	776	$2,356	$3.04	1d	9	1.15mi
16419 Spruce Way Unit H4 Lynnwood, WA	2.0	2.0	900	$2,350	$2.61	43d	1	1.19mi
16419 Spruce Way Lynnwood, WA	2.0	2.0	946	$2,550	$2.70	1d	1	1.19mi
15914 44th Ave W Lynnwood, WA	1.0–2.0	1.0–2.0	932	$2,159	$2.32	1d	10	1.21mi
3805 164th St SW Lynnwood, WA	1.0–2.0	1.0–2.0	843	$2,295	$2.72	1d	5	1.24mi
19309 40th Ave W Lynnwood, WA	2.0	1.0–1.5	707	$2,580	$3.65	43d	3	1.25mi
19801 50th Ave W Lynnwood, WA	1.0–2.0	1.0	825	$1,925	$2.33	4d	5	1.28mi
3711 164th St SW Lynnwood, WA	1.0–2.0	1.0–2.0	845	$2,533	$3.00	1d	7	1.30mi
19800 50th Ave W Lynnwood, WA	2.0	1.0	854	$1,790	$2.10	2d	4	1.32mi
16104 36th Ave W Lynnwood, WA	1.0–2.0	1.0	761	$2,099	$2.76	2d	6	1.32mi
15700 44th Ave W Lynnwood, WA	1.0–3.0	1.0–2.0	940	$1,979	$2.11	2d	1	1.33mi
5618 198th St SW Unit 202 Lynnwood, WA	2.0	1.0	817	$1,750	$2.14	3d	1	1.34mi
19501 40th Ave W Lynnwood, WA	1.0–2.0	1.0	662	$2,346	$3.54	2d	25	1.35mi
5720 198th St SW Lynnwood, WA	1.0	1.0	688	$1,525	$2.22	43d	1	1.37mi
19900 56th Ave W Unit A33 Lynnwood, WA	1.0	1.0	675	$1,645	$2.44	14d	1	1.40mi
19301 36th Ave W Lynnwood, WA	2.0	1.5	1080	$2,250	$2.08	24d	1	1.40mi

Listing history 16 events

1. 2026-06-18
   days on market $79,950 Active 108 DOM
2. 2026-06-17
   days on market $79,950 Active 107 DOM
3. 2026-06-16
   days on market $79,950 Active 106 DOM
4. 2026-06-15
   remarks 687-char remark
5. 2026-06-15
   pricedays on market $79,950 Active 105 DOM
6. 2026-06-13
   days on market $87,500 Active 103 DOM
7. 2026-06-13
   days on market $87,500 Active 102 DOM
8. 2026-06-09
   days on market $87,500 Active 99 DOM
9. 2026-06-08
   days on market $87,500 Active 98 DOM
10. 2026-06-07
    days on market $87,500 Active 97 DOM
11. 2026-06-04
    days on market $87,500 Active 94 DOM
12. 2026-06-03
    days on market $87,500 Active 93 DOM
13. 2026-06-02
    days on market $87,500 Active 92 DOM
14. 2026-06-01
    days on market $87,500 Active 91 DOM
15. 2026-05-31
    days on market $87,500 Active 90 DOM
16. 2026-03-02
    listed $87,500 Active

ⓘ 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: $248 · $21/mo
• Projected year-2 tax: $784 · $65/mo
• Expected delta: +$536/yr (+$45/mo · 216.4%)

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

Taxation est. · year 1

• Rental income: $25,581
• − Mortgage interest: −$4,478
• − Property taxes: −$248
• − Insurance: −$400
• − Repairs & maintenance: −$2,046
• − Management: −$2,046
• − Depreciation: −$2,326
• Taxable income: $14,037
• Est. tax owed @ 24.0%: −$3,369
• After-tax cash flow: $11,162/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: Edmonds School District
• NCES district ID: 5302400
• Math proficiency: 54% ▼ -1.00%
• Reading proficiency: 65% ▬ 0.00%
• Median HH income: $67,451
• Composite: 53.94/100
• National rank: #3026
• State rank: #53 of 291 in WA

Livability — Lynnwood

• Score: 77/100
• State rank: #150
• US rank: #3226

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lynnwood, WA
• County: Snohomish County · 786,756 people
• City population: 152,865
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 29,723
• Household income: $107,281
• Rent vs Own: 38.4% rent · 61.6% own
• Severe rent burden: 1090.0

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 0.69)
• Race & ethnicity: White 48% Asian 23% Hispanic / Latino 15% Two or more races 12% Black 6%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Portuguese 3% Italian 3% Slovak 2%
• Foreign-born: 28% · Canada, China, South Korea
• Languages at home: 65% English-only · Spanish 10% Chinese 4% Korean 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: ▼ -847.19%
• Current HPI: 340.6136
• Rent YoY: ▲ 1.37%
• 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

1 event — show timeline

• 2026-03-02 Listed $87,500 NWMLS as Distributed by MLS Grid

Property tax history

+5.2%/yr

Latest (2024): $248 · +14.0% YoY. Source: county tax records.