5220 SW 176th St #16 · Lynnwood, WA 98037

$70,000

3 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 34 Days on market

Built 1971 $61/sqft · 46% below area Est $130k · 46% under

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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
• ARV discount +15.0/15.0
• 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
• Appreciation +0.0/10.0

Listing remarks

More space, more storage, and more opportunity than you might expect in community living. Maintained and designed for comfortable everyday living, this spacious home offers generous room sizes, abundant built-in storage, covered parking, and multiple outdoor storage spaces. Perfect for those looking to downsize without giving up the space they need. The functional layout creates an easy flow between the kitchen, dining, and living areas, while the oversized bedrooms provide comfort and flexibility for guests, hobbies, or a home office setup. Move in comfortably now and update over time to reflect your own style. A wonderful opportunity for affordable, low-maintenance, welcoming 55+ communit

Key facts

• Parking
• Built 1971
• Listed 34 days

Property features AI

Finance

• Financial info: Land lease amount $972; Listing terms: Cash
• HOA & community: Located in a senior community (Kingsbury West); Park clubhouse available; Land lease

Exterior

• Parking: Carport; Uncovered parking
• Utilities: Electric energy source; Public water
• Home design: Manufactured double-wide home; One level; Mobile home remains; Fair condition; Made by REX1
• Construction: Metal/vinyl construction; Composition roof; Pillar/post/pier foundation; Manufactured after 06/15/1976
• Exterior features: Metal/vinyl exterior; Paved lot

Interior

• Kitchen: Dishwasher; Garbage disposal; Microwave; Refrigerator; Stove/Range; Kitchen with eating space
• Bedrooms: 2 bedrooms
• Flooring: Vinyl flooring; Carpet
• Bathrooms: 2 full bathrooms; 2 bathtubs; 2 showers
• Heating & cooling: Forced air heating; Forced air cooling
• Interior features: Dining room; Entry; Living room; Kitchen with eating space; Dishwasher; Garbage disposal; Microwave; Refrigerator; Stove/Range; Washer; Dryer; Double pane windows
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $70k.

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 ($2k rent vs $70k).
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.
• Cap rate 30.2% 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 $484 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 $20k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $67,900 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 3.31% ✓
• Cap rate: 30.21%
• Cash-on-cash: 85.43%
• DSCR: 4.80
• GRM: 2.5

CMA / ARV

• ARV (median comp): $129,800
• List price: $70,000
• Delta: -46.07%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5220 176th St SW #12	0.00mi	2/1.5 (-1)	1,200 (+4%)	12mo	$95,000	$79	76
5220 176th St SW #4	0.00mi	2/1.5 (-1)	1,040 (-10%)	1mo	$85,000	$82	76
5220 176th St SW #50	0.00mi	2/2.0 (-1)	1,200 (+4%)	22mo	$99,900	$83	69
18501 52nd Ave W #54	0.45mi	2/2.0 (-1)	1,096 (-5%)	0mo	$145,000	$132	66
17408 44th Ave W #32	0.44mi	3/2.0	1,188 (+3%)	11mo	$225,000	$189	65
4515 176th St SW #33	0.47mi	3/2.0	1,248 (+8%)	14mo	$157,000	$126	52
18501 52nd Ave W #83	0.52mi	2/2.0 (-1)	1,260 (+9%)	10mo	$135,000	$107	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: 84.1%
• Equity multiple: 4.76×
• Total profit: $73,787
• Equity at exit: $10,437

10-year hold

• IRR: 86.9%
• Equity multiple: 9.36×
• Total profit: $163,843
• Equity at exit: $6,052

Cash invested: $19,600 (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: 2.5×

Monthly cashflow live

• Estimated rent: $2,319 high
• Mortgage (P&I): −$367
• Tax from tax record: −$41 /mo · $489/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$487
• Net cashflow: $1,395

Break-even live

Break-even rent $553

Max offer price $70,000

Occupancy floor 35%

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: $17,500
• Closing costs: $2,100
• 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	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
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	5d	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	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	$2,550	$2.87	3d	9	0.70mi
4516 188th St SW Lynnwood, WA	3.0	1.0	1500	$2,895	$1.93	24d	1	0.79mi
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	$2,609	$2.39	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
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	3d	6	1.32mi
15700 44th Ave W Lynnwood, WA	1.0–3.0	1.0–2.0	940	$2,343	$2.49	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	3d	25	1.35mi

Listing history 12 events

1. 2026-06-10
   status $70,000 Pending 34 DOM
2. 2026-06-09
   days on market $70,000 Active 34 DOM
3. 2026-06-08
   days on market $70,000 Active 33 DOM
4. 2026-06-07
   days on market $70,000 Active 32 DOM
5. 2026-06-04
   days on market $70,000 Active 29 DOM
6. 2026-06-03
   days on market $70,000 Active 28 DOM
7. 2026-06-02
   days on market $70,000 Active 27 DOM
8. 2026-06-01
   days on market $70,000 Active 26 DOM
9. 2026-05-31
   days on market $70,000 Active 25 DOM
10. 2026-05-06
    status Active
11. 2026-04-24
    status Pending
12. 2026-04-16
    listed $70,000 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: $489 · $41/mo
• Projected year-2 tax: $686 · $57/mo
• Expected delta: +$197/yr (+$16/mo · 40.2%)

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

Taxation est. · year 1

• Rental income: $27,833
• − Mortgage interest: −$3,921
• − Property taxes: −$489
• − Insurance: −$350
• − Repairs & maintenance: −$2,227
• − Management: −$2,227
• − Depreciation: −$2,036
• Taxable income: $16,583
• Est. tax owed @ 24.0%: −$3,980
• After-tax cash flow: $12,764/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

4 events — show timeline

• 2026-06-09 Pending — NWMLS as Distributed by MLS Grid
• 2026-05-06 Relisted — NWMLS as Distributed by MLS Grid
• 2026-04-24 Pending — NWMLS as Distributed by MLS Grid
• 2026-04-16 Listed $70,000 NWMLS as Distributed by MLS Grid

Property tax history

+10.3%/yr

Latest (2026): $489 · +14.4% YoY. Source: county tax records.