4425 Meridian Ave N #17 · Everett, WA 98271

$85,000

2 bd · 1.5 ba · 1,454 sqft · Manufactured public records · 103 Days on market

Built 1972 7.28 ac lot $58/sqft · 78% below area

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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 +4.1/10.0
• Livability +3.7/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

A wonderful opportunity in a beautiful area! Seller is highly motivated and all reasonable offers will be considered. You won't find a better home or view at this price. Enjoy your view of Tulalip Bay from this spacious double wide home in peaceful Snug Harbor 55+ Park. The easy flow of this home offers open living space with bay views, two generous living areas, a kitchen and dining space with built in hutch, and a large primary suite with private bath and vanity. The second bedroom is ideal for guests or an office, plus a second full bath, cozy fireplace, and convenient laundry. Outside features include a covered carport, attached workshop, additional storage or hobby space, a low mainten

Key facts

• Built in hutch
• Private bath
• View of tulalip bay

Tags

• VIEW OF TULALIP BAY
• OPEN LIVING SPACE
• 2 SPACIOUS LIVING AREAS
• BUILT IN HUTCH
• LARGE PRIMARY SUITE
• PRIVATE BATH

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $85k.

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 $85k).
• Recommended offer: $77k (9.0% below list) — sets the bar for market timing.
• Cap rate 24.2% vs local median 2.5% in Everett — 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 73/100 on livability (#199 in WA) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A, health & safety A; Watch: crime D+, amenities F, cost of living F.
• Marysville School District (suburban): math 36% / reading 51% proficiency, ranked #177 of 291 in WA (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Quil Ceda Tulalip Elementary (503 students, 70% FRL); Totem Middle School (555 students, 71% FRL); Marysville Pilchuck High School (1,238 students, 63% FRL) — zoned schools average 68% FRL vs 40% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.3%/yr); 215 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $588 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 + 2.3% rent growth), your $24k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $7k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $70k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $77,350 (9.0% below list)

Questions for the listing agent

1. It's been on market 103 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 D 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: 2.76% ✓
• Cap rate: 24.16%
• Cash-on-cash: 63.80%
• DSCR: 3.84
• GRM: 3.0

CMA / ARV

• ARV (median comp): $389,642
• List price: $85,000
• Delta: -78.19%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5130 2nd Ave NE	0.43mi	3/2.0 (+1)	1,344 (-8%)	9mo	$390,000	$290	53

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 · 2.3% rent growth · sell at horizon

5-year hold

• IRR: 62.1%
• Equity multiple: 3.74×
• Total profit: $65,211
• Equity at exit: $12,674

10-year hold

• IRR: 66.4%
• Equity multiple: 7.47×
• Total profit: $154,064
• Equity at exit: $7,349

Cash invested: $23,800 (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 98271

• Rents YoY: 2.3%
• Active inventory: 215
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $2,345 medium
• Mortgage (P&I): −$446
• Tax est. 1.5%: −$106 /mo · $1,275/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$493
• Net cashflow: $1,265

Break-even live

Break-even rent $744

Max offer price $85,000

Occupancy floor 41%

Sensitivity live

Price	-10% $1,324	-5% $1,295	+0% $1,265	+5% $1,236	+10% $1,207
Rent	-10% $1,080	-5% $1,173	+0% $1,265	+5% $1,358	+10% $1,451
Rate	-1.0pp $1,308	-0.5pp $1,287	base $1,265	+0.5pp $1,243	+1.0pp $1,221

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
105 43rd Pl NW Tulalip, WA	2.0	1.0	1000	$1,900	$1.90	14d	1	0.23mi

Listing history 20 events

1. 2026-06-21
   days on market $85,000 Active 103 DOM
2. 2026-06-18
   days on market $85,000 Active 100 DOM
3. 2026-06-17
   days on market $85,000 Active 99 DOM
4. 2026-06-16
   days on market $85,000 Active 98 DOM
5. 2026-06-15
   days on market $85,000 Active 97 DOM
6. 2026-06-13
   days on market $85,000 Active 95 DOM
7. 2026-06-09
   days on market $85,000 Active 91 DOM
8. 2026-06-08
   days on market $85,000 Active 90 DOM
9. 2026-06-07
   days on market $85,000 Active 89 DOM
10. 2026-06-04
    days on market $85,000 Active 86 DOM
11. 2026-06-03
    days on market $85,000 Active 85 DOM
12. 2026-06-02
    days on market $85,000 Active 84 DOM
13. 2026-06-01
    days on market $85,000 Active 83 DOM
14. 2026-05-31
    days on market $85,000 Active 82 DOM
15. 2026-04-23
    price $85,000
16. 2026-04-07
    price $87,500
17. 2026-03-10
    listed $92,000 Active
18. 2023-10-18
    soldstatus $70,000 Closed
19. 2023-09-14
    status Pending
20. 2023-07-14
    listed $75,000 Active

ⓘ 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: $28,143
• − Mortgage interest: −$4,761
• − Property taxes: −$1,275
• − Insurance: −$425
• − Repairs & maintenance: −$2,251
• − Management: −$2,251
• − Depreciation: −$2,473
• Taxable income: $14,706
• Est. tax owed @ 24.0%: −$3,529
• After-tax cash flow: $11,655/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: Marysville School District
• NCES district ID: 5304860
• Math proficiency: 36% ▼ -1.00%
• Reading proficiency: 51% ▲ 2.00%
• Median HH income: $67,461
• Composite: 41.31/100
• National rank: #7367
• State rank: #177 of 291 in WA

Livability — Everett

• Score: 73/100
• State rank: #199
• US rank: #5489

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Snohomish County · 786,756 people
• City population: 173,457
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 30,838
• Household income: $95,654
• Rent vs Own: 28.0% rent · 72.0% own
• Severe rent burden: 929.0

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: Predominantly White (66%)
• Race & ethnicity: White 66% Two or more races 13% Hispanic / Latino 13% Native American 7% Asian 5% Black 1%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Portuguese 6% Iranian 3% Lithuanian 2%
• Foreign-born: 9% · Canada, China, South Korea
• Languages at home: 86% English-only · Spanish 8% Russian/Polish/Slavic 1% Tagalog/Filipino 1%

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: ▼ -666.16%
• Current HPI: 305.285
• Rent YoY: ▲ 2.30%
• 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

+13.3% since first listed

6 events — show timeline

• 2026-04-23 Price Changed $85,000 NWMLS as Distributed by MLS Grid
• 2026-04-07 Price Changed $87,500 NWMLS as Distributed by MLS Grid
• 2026-03-10 Listed $92,000 NWMLS as Distributed by MLS Grid
• 2023-10-18 Sold (MLS) $70,000 NWMLS as Distributed by MLS Grid
• 2023-09-14 Pending — NWMLS as Distributed by MLS Grid
• 2023-07-14 Listed $75,000 NWMLS as Distributed by MLS Grid

Property tax history

-9.6%/yr

Latest (2026): $50 · -90.9% YoY. Source: county tax records.