8730 206th St SE #24 · Maltby, WA 98296

$185,000

2 bd · 2.0 ba · 1,242 sqft · Manufactured public records · 45 Days on market

Built 1996

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.9/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Maltby Mobile Home Park! Situated on a desirable corner lot, this home offers added privacy and convenient parking with space for two vehicles plus additional street parking. Step inside to a bright and inviting interior where large windows pour in natural light and vaulted ceilings create an open, airy feel throughout the thoughtfully designed layout. The spacious primary bedroom includes its own private bathroom, while a versatile den/office room adapts effortlessly to your lifestyle, whether that's a home office, cozy reading nook, or playroom. Out back, the covered porch and catio let you and your furry companions soak up the outdoors in every season, and a newer storage shed

Key facts

• Covered porch
• Private bathroom
• Newer storage shed

Tags

• CORNER LOT
• PRIVATE BATHROOM
• DEN OFFICE ROOM
• COVERED PORCH
• NEWER STORAGE SHED

Property features AI

Finance

• Financial info: Listing terms: Cash or Conventional
• HOA & community: Park approved for sale; Maltby Mobile Home Park (approximately 33 homes); Pets allowed: see remarks; Land lease (monthly) $875

Exterior

• Parking: Carport
• Utilities: Electric energy source; Public water; Septic sewer; PUD power; Internet: Xfinity
• Home design: Manufactured single-wide home; One level; Faces north; Average condition
• Construction: Wood construction; Composition roof; Wood skirting; Manufactured after 06/15/1976; Mobile home remains on site
• Exterior features: Corner lot; Paved; Wood exterior/wood products

Interior

• Kitchen: Dishwasher; Refrigerator; Stove/Range
• Bedrooms: 2 bedrooms
• Flooring: Vinyl; Vinyl plank
• Bathrooms: 1 full bath; 1 three-quarter bath; 2 showers
• Heating & cooling: Forced air heating; No cooling
• Interior features: Water heater located in the kitchen; Vaulted ceilings; Ceiling fan(s); Patio/porch/deck; Awnings
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $185k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $185k).
• Recommended offer: $179k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.7% vs local median 1.7% in Maltby — 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 64/100 on livability (#371 in WA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Monroe School District (suburban): math 44% / reading 60% proficiency, ranked #95 of 291 in WA (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Maltby Elementary (322 students, 25% FRL); Monroe High School (1,552 students, 38% FRL).
• Market conditions: 224 active listings in the ZIP; 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 $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 + 3.0% rent growth), your $52k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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.

Recommended offer $179,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-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?
4. 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.
5. 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.
6. 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: 1.73% ✓
• Cap rate: 15.68%
• Cash-on-cash: 33.52%
• DSCR: 2.49
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.8%
• Equity multiple: 2.20×
• Total profit: $62,103
• Equity at exit: $27,584

10-year hold

• IRR: 36.1%
• Equity multiple: 4.33×
• Total profit: $172,444
• Equity at exit: $15,995

Cash invested: $51,800 (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 98296

• Active inventory: 224
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $3,199 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$33 /mo · $399/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$672
• Net cashflow: $1,447

Break-even live

Break-even rent $1,368

Max offer price $185,000

Occupancy floor 50%

Sensitivity live

Price	-10% $1,552	-5% $1,499	+0% $1,447	+5% $1,395	+10% $1,121
Rent	-10% $1,194	-5% $1,321	+0% $1,447	+5% $1,573	+10% $1,700
Rate	-1.0pp $1,540	-0.5pp $1,494	base $1,447	+0.5pp $1,399	+1.0pp $1,350

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $185,000 Active 45 DOM
2. 2026-06-18
   days on market $185,000 Active 42 DOM
3. 2026-06-17
   days on market $185,000 Active 41 DOM
4. 2026-06-16
   days on market $185,000 Active 40 DOM
5. 2026-06-16
   price $185,000 Active 39 DOM
6. 2026-06-15
   days on market $190,000 Active 39 DOM
7. 2026-06-13
   days on market $190,000 Active 37 DOM
8. 2026-06-09
   days on market $190,000 Active 33 DOM
9. 2026-06-08
   days on market $190,000 Active 32 DOM
10. 2026-06-07
    days on market $190,000 Active 31 DOM
11. 2026-06-04
    days on market $190,000 Active 28 DOM
12. 2026-06-03
    days on market $190,000 Active 27 DOM
13. 2026-06-02
    days on market $190,000 Active 26 DOM
14. 2026-06-01
    days on market $190,000 Active 25 DOM
15. 2026-05-31
    days on market $190,000 Active 24 DOM
16. 2026-05-07
    listed $190,000 Active
17. 2023-11-15
    soldstatus $180,000 Closed
18. 2023-10-05
    status Pending
19. 2023-08-31
    listed $199,000 Active
20. 2022-01-20
    soldstatus $187,900 Closed
21. 2022-01-11
    status Pending
22. 2021-12-13
    listed $187,900 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: $399 · $33/mo
• Projected year-2 tax: $1,813 · $151/mo
• Expected delta: +$1,414/yr (+$118/mo · 354.0%)

ⓘ 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 7 d/yr ≥86°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 9 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,391
• − Mortgage interest: −$10,363
• − Property taxes: −$399
• − Insurance: −$925
• − Repairs & maintenance: −$3,071
• − Management: −$3,071
• − Depreciation: −$5,382
• Taxable income: $15,180
• Est. tax owed @ 24.0%: −$3,643
• After-tax cash flow: $13,720/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: Monroe School District
• NCES district ID: 5305130
• Math proficiency: 44% ▼ -3.00%
• Reading proficiency: 60% ▬ 0.00%
• Median HH income: $82,960
• Composite: 49.49/100
• National rank: #4302
• State rank: #95 of 291 in WA

Livability — Maltby

• Score: 64/100
• State rank: #371
• US rank: #14156

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Maltby, WA
• Population (ZIP): 27,201

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: Predominantly White (79%)
• Race & ethnicity: White 79% Two or more races 9% Asian 8% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 6% Lithuanian 3% Italian 3%
• Foreign-born: 13% · Canada, China, Vietnam
• Languages at home: 85% English-only · Other Indo-European 3% Russian/Polish/Slavic 2% Spanish 2%

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: ▼ -915.99%
• Current HPI: 348.9725
• Rent YoY: —
• Metro: —
• 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

+1.1% since first listed

7 events — show timeline

• 2026-05-07 Listed $190,000 NWMLS as Distributed by MLS Grid
• 2023-11-15 Sold (MLS) $180,000 NWMLS as Distributed by MLS Grid
• 2023-10-05 Pending — NWMLS as Distributed by MLS Grid
• 2023-08-31 Listed $199,000 NWMLS as Distributed by MLS Grid
• 2022-01-20 Sold (MLS) $187,900 NWMLS as Distributed by MLS Grid
• 2022-01-11 Pending — NWMLS as Distributed by MLS Grid
• 2021-12-13 Listed $187,900 NWMLS as Distributed by MLS Grid

Property tax history

-0.3%/yr

Latest (2026): $399 · -1.3% YoY. Source: county tax records.