5220 176th St SW #55 · Lynnwood, WA 98037

$110,000

2 bd · 2.0 ba · 1,332 sqft · Manufactured public records · 8 Days on market

Built 1972 11 ac lot Est $111k · 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.7/15.0
• Schools +5.4/10.0
• Livability +3.9/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Located in a welcoming 55+ community, this well-kept home offers a spacious living and dining area with a built-in buffet and hutch, plus a bright kitchen with an eating nook. A cozy family room opens directly to the back outdoor area, creating an easy indoor-outdoor connection. Additional features include covered parking for three vehicles, a storage shed, and a convenient laundry room with access to the exterior. The open floorplan provides great natural light throughout, along with two comfortable bedrooms. Situated in South Lynnwood Senior Park, where lot rent is just $972 including water, sewer, and garbage, residents enjoy an active clubhouse, RV parking, and a friendly neighborhood a

Key facts

• Bright kitchen
• Covered parking
• Back outdoor area

Tags

• BUILT-IN BUFFET AND HUTCH
• BRIGHT KITCHEN
• EATING NOOK
• COZY FAMILY ROOM
• BACK OUTDOOR AREA
• COVERED PARKING

Property features AI

Finance

• Financial info: Land lease of $972; Cash offers only
• HOA & community: Located in Kingsbury West 55+ park; Park approved for sale; Clubhouse and common area; High-speed internet available; 89 homes in the park; Senior exemption applies; Pets allowed (see remarks)

Exterior

• Parking: Carport; RV parking available in park
• Utilities: Electric energy source; Public water; Electric water heater
• Home design: Manufactured double wide; One story; West facing; Mobile home remains; Good condition
• Construction: Metal/vinyl construction; Flat roof; Metal skirting; Pillar/post/pier foundation; Made by REX (model REX)
• Exterior features: Metal/vinyl exterior; Paved lot; Has view

Interior

• Kitchen: Dishwasher; Garbage disposal; Refrigerator; Stove/Range
• Bedrooms: 2 bedrooms
• Flooring: Laminate; Vinyl; Carpet
• Bathrooms: 1 full bath; 1 three-quarter bath; 1 bathtub; 2 showers
• Heating & cooling: Forced air heating
• Interior features: Water heater; Ceiling fan(s); Double pane windows; Bath off primary
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $110k.

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 ($2k rent vs $110k).
• Cap rate 17.9% 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 at typical pace (median 18d on market — plan ~3-4 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 $761 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 + 1.4% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $110,000

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 2.10% ✓
• Cap rate: 17.86%
• Cash-on-cash: 41.32%
• DSCR: 2.84
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $110,556
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5220 176th St SW #9	0.00mi	2/2.0	1,336 (+0%)	12mo	$73,800	$55	90
5220 176th St SW #14	0.00mi	2/2.0	1,330 (-0%)	15mo	$83,500	$63	87
5220 176 St SW #76	0.00mi	2/2.0	1,436 (+8%)	2mo	$156,000	$109	85
5220 176th St SW #12	0.00mi	2/1.5	1,200 (-10%)	12mo	$95,000	$79	71
5220 176TH St SW #10	0.00mi	3/2.0 (+1)	1,464 (+10%)	12mo	$120,000	$82	69
5220 176th St SW #50	0.00mi	2/2.0	1,200 (-10%)	22mo	$99,900	$83	65
18501 52nd Ave W #83	0.52mi	2/2.0	1,260 (-5%)	10mo	$135,000	$107	59
4515 176th St SW #33	0.47mi	3/2.0 (+1)	1,248 (-6%)	14mo	$157,000	$126	50
17408 44th Ave W #32	0.44mi	3/2.0 (+1)	1,188 (-11%)	11mo	$225,000	$189	47

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: 36.0%
• Equity multiple: 2.49×
• Total profit: $46,041
• Equity at exit: $16,401

10-year hold

• IRR: 41.9%
• Equity multiple: 4.65×
• Total profit: $112,444
• Equity at exit: $9,511

Cash invested: $30,800 (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 98037

• Rents YoY: 1.4%
• Active inventory: 173
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $2,305 high
• Mortgage (P&I): −$577
• Tax est. 1.5%: −$138 /mo · $1,650/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$484
• Net cashflow: $1,061

Break-even live

Break-even rent $962

Max offer price $110,000

Occupancy floor 49%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4816 176th St SW Lynnwood, WA	1.0–2.0	1.0–1.5	802	$1,970	$2.45	3d	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	24d	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	24d	1	0.44mi
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	5d	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	18d	1	0.53mi
18534 52nd Ave W Lynnwood, WA	2.0	2.0	1100	$2,295	$2.09	2d	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
18606 52nd Ave W Lynnwood, WA	2.0	2.0	1204	$2,325	$1.93	5d	1	0.60mi
5311 188th St SW Lynnwood, WA	2.0	1.5	1004	$2,500	$2.49	43d	1	0.65mi
17619 62nd Pl W Lynnwood, WA	3.0	1.0	1400	$2,695	$1.93	43d	1	0.67mi
16604 48th Ave W Lynnwood, WA	1.0–3.0	1.0–2.0	890	$2,162	$2.43	3d	9	0.70mi
16908 River Rock Dr Lynnwood, WA	3.0	2.0	1701	$3,750	$2.20	43d	1	0.71mi
18020 40th Ave W Lynnwood, WA	1.0	1.0	1350	$2,350	$1.74	43d	1	0.75mi
16529 48th Ave W Unit A Edmonds, WA	3.0	2.5	1529	$3,500	$2.29	24d	1	0.77mi
4516 188th St SW Lynnwood, WA	3.0	1.0	1500	$2,895	$1.93	24d	1	0.79mi
16318 48th Ave W Edmonds, WA	3.0	1.0	1780	$2,850	$1.60	18d	1	0.89mi
16308 52nd Ave W Unit 4 Edmonds, WA	2.0	1.0	900	$1,795	$1.99	11d	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	2d	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	2d	1	1.19mi
15914 44th Ave W Lynnwood, WA	1.0–2.0	1.0–2.0	932	$2,159	$2.32	2d	10	1.21mi
3805 164th St SW Lynnwood, WA	1.0–2.0	1.0–2.0	843	$2,295	$2.72	2d	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	5d	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
16104 36th Ave W Lynnwood, WA	1.0–2.0	1.0	761	$2,099	$2.76	3d	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
19301 36th Ave W Lynnwood, WA	2.0	1.5	1080	$2,250	$2.08	24d	1	1.40mi
16111 36th Ave W Unit D4 Lynnwood, WA	3.0	4.0	1838	$3,700	$2.01	43d	1	1.41mi

Listing history 7 events

1. 2026-06-18
   days on market $110,000 Active 8 DOM
2. 2026-06-17
   days on market $110,000 Active 7 DOM
3. 2026-06-16
   days on market $110,000 Active 6 DOM
4. 2026-06-15
   days on market $110,000 Active 5 DOM
5. 2026-06-13
   days on market $110,000 Active 3 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $110,000 Active 2 DOM

ⓘ 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: $27,658
• − Mortgage interest: −$6,162
• − Property taxes: −$1,650
• − Insurance: −$550
• − Repairs & maintenance: −$2,213
• − Management: −$2,213
• − Depreciation: −$3,200
• Taxable income: $11,671
• Est. tax owed @ 24.0%: −$2,801
• After-tax cash flow: $9,926/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

• 2026-06-10 Listed $110,000 NWMLS as Distributed by MLS Grid

Property tax history

-23.0%/yr

Latest (2021): $10 · -97.3% YoY. Source: county tax records.