18501 52nd Ave W #44 · Lynnwood, WA 98037

$60,500

1 bd · 1.0 ba · 790 sqft · Manufactured public records · 62 Days on market

Built 1964 $77/sqft · at area comps Est $58k · 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
• Schools +5.4/10.0
• ARV discount +5.3/15.0
• Livability +3.9/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome Home to Royalwood a +55 Park located between Meadowdale and Alderwood. Close to EVERYTHING! Minutes to the light rail. A very quiet neighborhood with recently updated Clubhouse, Game Room and Grounds. A very desirable location in the park with additional parking across the parkway at the clubhouse. Updates include new vinyl windows and slider with screens, new exterior doors, new roof, newer furnace (2yrs), updated electrical throughout, gutters(6 months), front porch (1yrs), Exterior Paint (2yrs), Mature landscaping and raised garden beds. Patio for entertaining & two large sheds for storage. Large entry that leads into a great room with living, dining and kitchen. Large util

Key facts

• Updated clubhouse
• Two large sheds
• Raised garden beds

Tags

• UPDATED CLUBHOUSE
• GAME ROOM
• MATURE LANDSCAPING
• RAISED GARDEN BEDS
• PATIO FOR ENTERTAINING
• TWO LARGE SHEDS

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $60k.

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 $60k).
• Recommended offer: $57k (6.0% below list) — sets the bar for market timing.
• Cap rate 28.4% 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 $418 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 $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($57k) is reasonable based on typical stale-listing flexibility.

Recommended offer $56,870 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1964 — 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 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?
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: 3.20% ✓
• Cap rate: 28.37%
• Cash-on-cash: 78.86%
• DSCR: 4.51
• GRM: 2.6

CMA / ARV

• ARV (median comp): $57,734
• List price: $60,500
• Delta: 4.79%
• Verdict: FAIR
• Comps: 6 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18501 52nd Ave W #37	0.08mi	2/1.0 (+1)	784 (-1%)	6mo	$35,000	$45	85
5001 180th St SW #33	0.28mi	2/1.0 (+1)	791 (+0%)	9mo	$92,000	$116	74
5001 180th St SW #30	0.28mi	2/1.0 (+1)	791 (+0%)	15mo	$100,000	$126	69
18501 52nd Ave W #15	0.08mi	2/1.0 (+1)	840 (+6%)	15mo	$111,000	$132	69
18501 52nd Ave W #41	0.08mi	2/1.0 (+1)	840 (+6%)	16mo	$20,000	$24	68
5001 180th St SW #28	0.28mi	2/1.0 (+1)	791 (+0%)	17mo	$116,700	$148	68
5220 176th St SW #8	0.45mi	2/1.0 (+1)	784 (-1%)	7mo	$60,000	$77	67
5001 180th St SW #29	0.28mi	2/1.0 (+1)	784 (-1%)	17mo	$63,000	$80	67
18501 52nd Ave W #88	0.08mi	2/2.0 (+1)	902 (+14%)	6mo	$129,800	$144	59
5220 176th St SW #27	0.45mi	2/1.0 (+1)	840 (+6%)	7mo	$52,500	$63	58
5717 186th Pl SW #7	0.40mi	2/1.0 (+1)	720 (-9%)	14mo	$127,000	$176	50
17410 52nd Ave W #10	0.64mi	2/1.0 (+1)	708 (-10%)	15mo	$70,000	$99	35

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: 77.1%
• Equity multiple: 4.42×
• Total profit: $58,003
• Equity at exit: $9,021

10-year hold

• IRR: 80.3%
• Equity multiple: 8.64×
• Total profit: $129,505
• Equity at exit: $5,231

Cash invested: $16,940 (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: 2.6×

Monthly cashflow live

• Estimated rent: $1,938 high
• Mortgage (P&I): −$317
• Tax est. 1.5%: −$76 /mo · $908/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $1,113

Break-even live

Break-even rent $529

Max offer price $60,500

Occupancy floor 38%

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: $15,125
• Closing costs: $1,815
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18400 52nd Ave W Lynnwood, WA	2.0	1.0	1092	$1,995	$1.83	44d	1	0.10mi
18534 52nd Ave W Lynnwood, WA	2.0	2.0	1100	$2,295	$2.09	2d	1	0.18mi
5311 188th St SW Lynnwood, WA	2.0	1.5	1004	$2,500	$2.49	44d	1	0.27mi
5620 183rd St SW Lynnwood, WA	1.0–2.0	1.0	787	$1,800	$2.29	2d	2	0.38mi
5707 186th Pl SW Unit 4-PLEX 1 Lynnwood, WA	2.0	2.0	1000	$2,135	$2.13	24d	1	0.40mi
5624 183rd St SW Lynnwood, WA	1.0–2.0	1.0	787	$1,800	$2.29	5d	2	0.41mi
4816 176th St SW Lynnwood, WA	1.0–2.0	1.0–1.5	802	$1,680	$2.09	3d	6	0.48mi
4702 176th St SW Lynnwood, WA	1.0–2.0	1.0	886	$1,599	$1.80	3d	8	0.49mi
4502 176th St SW Unit 2 Lynnwood, WA	2.0	2.0	1004	$2,195	$2.19	44d	1	0.50mi
17828 44th Ave W Unit 2 Lynnwood, WA	2.0	2.0	750	$2,100	$2.80	44d	1	0.52mi
4432 176th St SW Unit 3 Lynnwood, WA	2.0	2.0	1004	$2,195	$2.19	44d	1	0.55mi
4432 176th St SW Unit 2 Lynnwood, WA	2.0	2.0	1004	$2,195	$2.19	24d	1	0.55mi
4428 176th St SW Unit 4 Lynnwood, WA	2.0	2.0	1004	$2,195	$2.19	24d	1	0.56mi
17422 52nd Ave W Lynnwood, WA	2.0	1.5	850	$1,960	$2.31	24d	1	0.58mi
4410 176th St SW Lynnwood, WA	1.0–2.0	1.0	770	$1,650	$2.14	5d	3	0.62mi
17529 44th Ave W Lynnwood, WA	2.0	1.0	1000	$2,395	$2.40	4d	1	0.68mi
17314 44th Ave W Unit C Lynnwood, WA	2.0	1.5	1000	$2,200	$2.20	18d	1	0.78mi
19801 50th Ave W Lynnwood, WA	1.0–2.0	1.0	825	$1,390	$1.68	5d	5	0.86mi
19800 50th Ave W Lynnwood, WA	2.0	1.0	854	$1,790	$2.10	3d	4	0.90mi
19309 40th Ave W Lynnwood, WA	2.0	1.0–1.5	707	$2,015	$2.85	44d	3	0.92mi
18124 36th Ave W Lynnwood, WA	1.0–2.0	1.0–2.0	821	$1,789	$2.18	3d	8	0.93mi
5618 198th St SW Unit 202 Lynnwood, WA	2.0	1.0	817	$1,750	$2.14	4d	1	0.96mi
18505 36th Ave W Lynnwood, WA	1.0–2.0	1.0–2.0	776	$1,756	$2.26	2d	9	0.99mi
18031 36th Ave W Lynnwood, WA	1.0–2.0	1.0–2.0	760	$1,780	$2.34	3d	6	0.99mi
4807 200th St SW Lynnwood, WA	2.0–3.0	1.0	935	$1,550	$1.66	2d	12	0.99mi
5720 198th St SW Lynnwood, WA	1.0	1.0	688	$1,525	$2.22	44d	1	1.00mi
19501 40th Ave W Lynnwood, WA	1.0–2.0	1.0	662	$1,795	$2.71	3d	25	1.00mi
4727 200th St SW Lynnwood, WA	1.0–2.0	1.0–1.5	875	$1,894	$2.16	2d	12	1.00mi
19900 56th Ave W Unit A33 Lynnwood, WA	1.0	1.0	675	$1,645	$2.44	15d	1	1.01mi
5725 200th St SW Lynnwood, WA	2.0	1.0	800	$2,000	$2.50	17d	1	1.05mi
19815 Scriber Lake Rd Lynnwood, WA	1.0	1.0	495	$1,634	$3.30	3d	10	1.05mi
4800 200th St SW Unit E201 Lynnwood, WA	2.0	2.0	971	$2,300	$2.37	5d	1	1.06mi
4001 198th St SW Lynnwood, WA	3.0	1.0–2.0	905	$2,394	$2.65	3d	242	1.08mi
4301 Alderwood Mall Blvd Lynnwood, WA	2.0	1.0	440	$1,712	$3.89	3d	14	1.09mi
16604 48th Ave W Lynnwood, WA	1.0–3.0	1.0–2.0	890	$1,775	$1.99	3d	9	1.11mi
19301 36th Ave W Lynnwood, WA	2.0	1.5	1080	$2,250	$2.08	24d	1	1.11mi
19301 36th Ave W Unit 37 Lynnwood, WA	2.0	1.5	1080	$2,250	$2.08	11d	1	1.13mi
5812 200th St SW Unit B Lynnwood, WA	2.0	2.0	942	$2,300	$2.44	44d	1	1.13mi
19888 40th Ave W Lynnwood, WA	3.0	1.0–2.0	906	$1,892	$2.09	15d	21	1.15mi
19888 40th Ave W Lynnwood, WA	1.0	1.0	572	$2,565	$4.48	2d	8	1.15mi

Listing history 15 events

1. 2026-06-18
   days on market $60,500 Active 62 DOM
2. 2026-06-17
   days on market $60,500 Active 61 DOM
3. 2026-06-16
   days on market $60,500 Active 60 DOM
4. 2026-06-15
   pricedays on market $60,500 Active 59 DOM
5. 2026-06-13
   days on market $62,500 Active 57 DOM
6. 2026-06-13
   days on market $62,500 Active 56 DOM
7. 2026-06-09
   days on market $62,500 Active 53 DOM
8. 2026-06-08
   days on market $62,500 Active 52 DOM
9. 2026-06-07
   days on market $62,500 Active 51 DOM
10. 2026-06-04
    days on market $62,500 Active 48 DOM
11. 2026-06-03
    days on market $62,500 Active 47 DOM
12. 2026-06-02
    days on market $62,500 Active 46 DOM
13. 2026-06-01
    days on market $62,500 Active 45 DOM
14. 2026-05-31
    days on market $62,500 Active 44 DOM
15. 2026-04-17
    listed $65,000 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: $23,262
• − Mortgage interest: −$3,389
• − Property taxes: −$908
• − Insurance: −$302
• − Repairs & maintenance: −$1,861
• − Management: −$1,861
• − Depreciation: −$1,760
• Taxable income: $13,181
• Est. tax owed @ 24.0%: −$3,163
• After-tax cash flow: $10,196/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

• 2026-04-17 Listed $65,000 NWMLS as Distributed by MLS Grid

Property tax history

+7.7%/yr

Latest (2026): $108 · +45.5% YoY. Source: county tax records.