3333 228th St SE #119 · Bothell, WA 98021

$90,000

1 bd · 1.0 ba · 804 sqft · Manufactured public records · 1 Days on market

Built 1967 $112/sqft · 16% above area Est $78k · 16% over ↓ 20% since listing

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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
• Schools +6.7/10.0
• Livability +4.2/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• ARV discount +0.4/15.0
• Appreciation +0.0/10.0

Listing remarks

Step into comfortable and easy living at Canyon Park Mobile Home Park! This beautifully updated 2-bedroom, ¾-bath home sits on a desirable corner lot in a welcoming 55+ community. Enjoy a bright, modern interior featuring updated cabinetry, appliances, and finishes throughout. The spacious yard offers room to garden, relax, or entertain, while the peaceful setting provides added privacy. Conveniently located close to shopping, dining, and freeway access, making everyday errands and commuting simple. Monthly space rent is $945. Move-in ready and thoughtfully updated—this is low-maintenance living at its best!

Key facts

• Modern interior
• Spacious yard
• Peaceful setting

Tags

• CORNER LOT
• UPDATED CABINETRY
• MODERN INTERIOR
• SPACIOUS YARD
• PEACEFUL SETTING
• CLOSE TO SHOPPING

Property features AI

Finance

• Other: Taxes reported (amounts excluded per instructions)
• Financial info: Listing terms: Cash; Land lease: $945 (as reported)
• HOA & community: Located in Canyon Mobile Park (approximately 143 homes); Park amenities include clubhouse and RV parking; Park approved for sale; Pets allowed — see remarks; Land lease applies

Exterior

• Parking: Open/uncovered parking with 3 spaces
• Utilities: Electric energy source; Public water service (Snohomish County PUD); Public sewer (Snohomish County PUD); Power provided by Snohomish County PUD
• Home design: Manufactured single-wide home (model: STAR); One level; South-facing
• Construction: Wood construction; Composition roof; Mobile home remains on site
• Exterior features: Wood siding or wood products exterior; Corner, paved lot; Has a view

Interior

• Kitchen: Includes refrigerator, microwave, and stove/range
• Bedrooms: 2 bedrooms
• Flooring: Laminate flooring
• Bathrooms: One three-quarter bath with shower
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Kitchen with eating space; Living room; Utility room; Dryer, Washer, Microwave, Refrigerator, Stove/Range
• Laundry & utility: Washer and dryer; Utility room

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $90k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Cap rate 19.8% vs local median 1.5% in Bothell — 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 83/100 on livability (#53 in WA, #962 nationally) — a professional / high-income tenant draw. Strengths: schools A+, commute A+, employment A+; Watch: amenities C-, cost of living F.
• Northshore School District (suburban): math 69% / reading 78% proficiency, ranked #9 of 291 in WA (top 3%) — strong family-tenant draw, lease renewals of 3-5y typical; only 12% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+1.8%/yr); 254 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 3,982 units permitted in Snohomish County in 2024 (1,492 in 5+ unit buildings).
• This rent is only 13% of the median local income ($184k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 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 + 1.8% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 3y 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 $90,000

Questions for the listing agent

1. Built in 1967 — 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. Schools are A-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: 2.23% ✓
• Cap rate: 19.84%
• Cash-on-cash: 48.38%
• DSCR: 3.15
• GRM: 3.7

CMA / ARV

• ARV (median comp): $77,695
• List price: $90,000
• Delta: 28.64%
• Verdict: OVERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3333 228th St SE #69	0.00mi	2/1.0 (+1)	785 (-2%)	2mo	$82,500	$105	90
3333 228th St SE #115	0.00mi	2/1.0 (+1)	910 (+13%)	20mo	$95,000	$104	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 · 1.75% rent growth · sell at horizon

5-year hold

• IRR: 44.5%
• Equity multiple: 2.89×
• Total profit: $47,625
• Equity at exit: $13,419

10-year hold

• IRR: 49.9%
• Equity multiple: 5.56×
• Total profit: $114,804
• Equity at exit: $7,782

Cash invested: $25,200 (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 98021

• Rents YoY: 1.8%
• Active inventory: 254
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $2,006 high
• Mortgage (P&I): −$472
• Tax from tax record: −$59 /mo · $713/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$421
• Net cashflow: $1,016

Break-even live

Break-even rent $720

Max offer price $90,000

Occupancy floor 44%

Sensitivity live

Price	-10% $1,067	-5% $1,041	+0% $1,016	+5% $990	+10% $965
Rent	-10% $857	-5% $937	+0% $1,016	+5% $1,095	+10% $1,174
Rate	-1.0pp $1,061	-0.5pp $1,039	base $1,016	+0.5pp $993	+1.0pp $969

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23028 27th Ave SE Bothell, WA	1.0–3.0	1.0–2.0	880	$1,925	$2.19	0d	16	0.53mi
2207 227th St SE Bothell, WA	1.0–3.0	1.0–2.0	846	$1,737	$2.05	0d	8	0.73mi
23940 40th Dr SE Bothell, WA	1.0–3.0	1.0–2.5	1160	$2,097	$1.81	0d	14	0.92mi
1630 228th St SE Bothell, WA	1.0–3.0	1.0–2.0	940	$1,709	$1.82	0d	12	1.05mi
3906 243rd Pl SE Bothell, WA	1.0	1.0	744	$2,299	$3.09	44d	2	1.09mi
12023 NE 204th Pl Unit E-303 Bothell, WA	1.0	1.0	739	$1,750	$2.37	44d	1	1.23mi
21623 16th Dr SE Bothell, WA	1.0–3.0	1.0–2.0	990	$1,827	$1.85	0d	11	1.28mi

Listing history 20 events

1. 2026-06-17
   pricedays on marketlisting id $90,000 Active 1 DOM
2. 2026-06-17
   days on market $99,950 Active 33 DOM
3. 2026-06-16
   days on market $99,950 Active 32 DOM
4. 2026-06-15
   days on market $99,950 Active 31 DOM
5. 2026-06-13
   days on market $99,950 Active 29 DOM
6. 2026-06-13
   days on market $99,950 Active 28 DOM
7. 2026-06-09
   days on market $99,950 Active 25 DOM
8. 2026-06-08
   days on market $99,950 Active 24 DOM
9. 2026-06-07
   days on market $99,950 Active 23 DOM
10. 2026-06-04
    days on market $99,950 Active 20 DOM
11. 2026-06-03
    days on market $99,950 Active 19 DOM
12. 2026-06-02
    days on market $99,950 Active 18 DOM
13. 2026-06-01
    days on market $99,950 Active 17 DOM
14. 2026-05-31
    days on market $99,950 Active 16 DOM
15. 2026-05-15
    listed $99,950 Active
16. 2023-11-30
    soldstatus $100,000 Closed
17. 2023-11-17
    status Pending
18. 2023-10-16
    status Active
19. 2023-10-09
    status Pending
20. 2023-10-04
    listed $112,000 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: $713 · $59/mo
• Projected year-2 tax: $882 · $74/mo
• Expected delta: +$169/yr (+$14/mo · 23.7%)

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

Taxation est. · year 1

• Rental income: $24,073
• − Mortgage interest: −$5,041
• − Property taxes: −$713
• − Insurance: −$450
• − Repairs & maintenance: −$1,926
• − Management: −$1,926
• − Depreciation: −$2,618
• Taxable income: $11,398
• Est. tax owed @ 24.0%: −$2,736
• After-tax cash flow: $9,455/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: Northshore School District
• NCES district ID: 5305910
• Math proficiency: 69% ▼ -3.00%
• Reading proficiency: 78% ▼ -1.00%
• Median HH income: $92,951
• Composite: 67.41/100
• National rank: #826
• State rank: #9 of 291 in WA

Livability — Bothell

• Score: 83/100
• State rank: #53
• US rank: #962

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bothell, WA
• County: Snohomish County · 786,756 people
• City population: 141,635
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 35,631
• Household income: $183,786
• Rent vs Own: 18.9% rent · 81.1% own
• Severe rent burden: 413.0

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 0.61)
• Race & ethnicity: White 55% Asian 29% Two or more races 9% Hispanic / Latino 9% Black 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Portuguese 4% Italian 3% Lithuanian 2%
• Foreign-born: 29% · China, Canada, South Korea
• Languages at home: 65% English-only · Other Indo-European 11% Other Asian/Pacific 6% Chinese 6%

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: ▼ -903.22%
• Current HPI: 380.5475
• Rent YoY: ▲ 1.75%
• 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

-19.6% since first listed

6 events — show timeline

• 2026-06-17 Listed $90,000 NWMLS as Distributed by MLS Grid
• 2023-11-30 Sold (MLS) $100,000 NWMLS as Distributed by MLS Grid
• 2023-11-17 Pending — NWMLS as Distributed by MLS Grid
• 2023-10-16 Relisted — NWMLS as Distributed by MLS Grid
• 2023-10-09 Pending — NWMLS as Distributed by MLS Grid
• 2023-10-04 Listed $112,000 NWMLS as Distributed by MLS Grid

Property tax history

+27.4%/yr

Latest (2026): $713 · +8.3% YoY. Source: county tax records.