620 112th St SE #23 · Everett, WA 98208

$148,888

2 bd · 2.0 ba · 1,404 sqft · Manufactured public records · 31 Days on market

Built 1981 $106/sqft · at area comps Est $150k · at est.

---

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 +7.8/15.0
• Schools +5.9/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +1.7/5.0
• Appreciation +0.0/10.0

Listing remarks

Back on the market with a BRAND-NEW roof and recently upgraded 200-amp electrical panel! Welcome home to Lago de Plata, a well-cared-for 55+ community where life feels a little simpler and more relaxed. This move-in-ready three-bedroom home has been thoughtfully refreshed with new interior paint, updated light fixtures, a rebuilt deck, and a recently installed 200-amp electrical panel completed by a licensed contractor. The brand-new roof adds significant value and peace of mind for years to come. Enjoy the convenience of detached storage with electricity, two covered carport spaces, plus RV and boat parking. Surrounded by mature landscaping, quiet walking paths, and a welcoming neighborhoo

Key facts

• 2 parking spots
• Community pool
• Built 1981

Property features AI

Finance

• Other: Number of homes in park: 244
• Financial info: Land lease $1,150; Cash offers only (listing terms)
• HOA & community: Senior community (senior exemption applies); Lago De Plata park with about 244 homes; Park approved for sale

Exterior

• Parking: Carport
• Utilities: Public water (City of Everett); Public sewer (City of Everett); Electric service (Snohomish PUD); Electric water heater located outside to the left of electrical panel; Cable and internet connected (Xfinity)
• Home design: Manufactured double-wide home; One level; Faces northwest; Manufactured after 6/15/1976; Very good condition
• Construction: Composition roof; Double wide manufactured body type; Model VICR 52/28
• Exterior features: Curbs and paved access; Shed on site; Park offers clubhouse, pool, exercise room, recreational area, trails and RV parking

Interior

• Kitchen: Dishwasher; Garbage disposal; Refrigerator; Stove/Range
• Bedrooms: 3 bedrooms
• Flooring: Vinyl; Carpet
• Bathrooms: 2 full bathrooms; 2 bathtubs; 2 showers
• Heating & cooling: Forced air heating; Electric energy source
• Interior features: Water heater; Skylights; Vaulted ceilings; Bath off primary; Double pane windows
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $149k.

Deal economics

• At list price, monthly cash flow is $763 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Recommended offer: $144k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.4% 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: schools C-, crime D+, amenities F.
• Everett School District (urban): math 60% / reading 72% proficiency, ranked #26 of 291 in WA (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents falling (-3.2%/yr); 277 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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 $1k of loan paydown is wiped out by about $4k 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 + 0.0% rent growth), your $42k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($144k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask is 19% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $144,421 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.52% ✓
• Cap rate: 12.44%
• Cash-on-cash: 21.97%
• DSCR: 1.98
• GRM: 5.5

CMA / ARV

• ARV (median comp): $149,961
• List price: $148,888
• Delta: -0.72%
• Verdict: FAIR
• Comps: 15 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
620 112th St SE #189	0.00mi	2/2.0	1,390 (-1%)	8mo	$145,500	$105	92
620 112th St SE #227	0.00mi	3/2.0 (+1)	1,404 (0%)	4mo	$108,000	$77	92
620 112th St SE #153	0.00mi	2/2.0	1,340 (-5%)	12mo	$110,000	$82	82
11622 Silver Lake Rd #58	0.28mi	2/2.0	1,344 (-4%)	4mo	$78,000	$58	76
11622 Silver Lake Rd #30	0.28mi	2/2.0	1,344 (-4%)	7mo	$150,000	$112	74
620 112th St SE #163	0.00mi	3/2.0 (+1)	1,553 (+11%)	13mo	$225,000	$145	67
12030 2nd Dr SE	0.54mi	2/2.0	1,436 (+2%)	10mo	$485,000	$338	63
12219 Freeway Pl	0.53mi	2/2.0	1,452 (+3%)	12mo	$525,000	$362	60
11622 Silver Lake Rd #38	0.28mi	2/2.0	1,560 (+11%)	12mo	$118,500	$76	58
12030 Andrew Sater Rd	0.43mi	2/2.0	1,264 (-10%)	6mo	$85,000	$67	58
11500 Meridian Ave S #91	0.64mi	3/2.0 (+1)	1,456 (+4%)	2mo	$226,000	$155	58
11500 Meridian Ave S #22	0.64mi	3/2.0 (+1)	1,290 (-8%)	10mo	$199,000	$154	44

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 11.2%
• Equity multiple: 1.43×
• Total profit: $17,864
• Equity at exit: $22,200

10-year hold

• IRR: 17.7%
• Equity multiple: 2.26×
• Total profit: $52,589
• Equity at exit: $12,873

Cash invested: $41,689 (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 98208

• Rents YoY: -3.2%
• Active inventory: 277
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $2,268 high
• Mortgage (P&I): −$781
• Tax est. 1.5%: −$186 /mo · $2,233/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$476
• Net cashflow: $763

Break-even live

Break-even rent $1,302

Max offer price $148,888

Occupancy floor 61%

Sensitivity live

Price	-10% $866	-5% $815	+0% $763	+5% $712	+10% $660
Rent	-10% $584	-5% $674	+0% $763	+5% $853	+10% $942
Rate	-1.0pp $838	-0.5pp $801	base $763	+0.5pp $725	+1.0pp $685

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: $37,222
• Closing costs: $4,467
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
525 112th St SE Everett, WA	1.0–2.0	1.0–2.0	1019	$2,416	$2.37	2d	6	0.17mi
11401 3rd Ave SE Everett, WA	2.0	1.0–2.0	862	$1,892	$2.20	0d	15	0.21mi
515 112th St SE Everett, WA	2.0–3.0	2.0–2.5	1050	$1,745	$1.66	0d	2	0.24mi
11026 Meridian Dr SE Everett, WA	3.0	2.5	1700	$3,000	$1.76	44d	1	0.53mi
4 112th St SW Unit A Everett, WA	3.0	2.5	1661	$3,300	$1.99	44d	1	0.56mi
11005 16th Ave SE Everett, WA	1.0–2.0	1.0–2.0	841	$2,031	$2.41	0d	5	0.58mi
133 124th St SE Everett, WA	1.0–2.0	1.0–2.0	820	$2,055	$2.50	2d	9	0.69mi
10509 14th Dr SE Everett, WA	3.0	2.5	1506	$2,700	$1.79	0d	1	0.69mi
1304 Bruskrud Rd Everett, WA	2.0	1.5–2.0	900	$2,000	$2.22	0d	5	0.71mi
1701 121st St SE Everett, WA	1.0–3.0	1.0–2.0	867	$2,354	$2.71	2d	12	0.78mi
10101 7th Ave SE Everett, WA	1.0–3.0	1.0–2.0	1073	$2,277	$2.12	0d	15	0.84mi
305 127th St SE Unit A Everett, WA	2.0	2.5	1456	$2,649	$1.82	44d	1	0.86mi
120 SE Everett Mall Way Everett, WA	1.0–2.0	1.0–2.0	813	$2,134	$2.62	0d	43	0.87mi
2020 Lake Heights Dr Everett, WA	1.0–3.0	1.0–2.0	918	$2,106	$2.29	0d	14	0.88mi
128 127th St SE Everett, WA	3.0	1.0–2.0	884	$2,747	$3.11	0d	12	0.88mi
11225 19th Ave SE Everett, WA	1.0–3.0	1.0–2.0	925	$2,230	$2.41	0d	10	0.90mi
222 124th St SW Unit A2 Everett, WA	3.0	2.5	1560	$2,975	$1.91	5d	1	0.97mi
12115 19th Ave SE Everett, WA	1.0–3.0	1.0–2.0	884	$2,090	$2.36	0d	12	0.97mi
11311 19th Ave SE Everett, WA	1.0–3.0	1.0–2.0	932	$2,283	$2.45	0d	14	1.00mi
923 112th St SW Everett, WA	1.0–3.0	1.0–2.0	858	$1,950	$2.27	2d	24	1.11mi
11207 9th Pl W Everett, WA	2.0	1.0	995	$1,899	$1.91	21d	7	1.14mi
12600 4th Ave W Everett, WA	2.0	2.5	1336	$2,295	$1.72	17d	1	1.16mi
9925 4th Ave W Apt 6 Everett, WA	2.0	2.0	1000	$1,445	$1.45	3d	1	1.16mi
13117 3rd Ave SE Unit J1 Everett, WA	3.0	3.0	1659	$3,249	$1.96	44d	1	1.16mi
13401 Dumas Rd Mill Creek, WA	1.0–2.0	1.0–2.0	893	$2,277	$2.55	0d	6	1.16mi
9618 19th Ave SE Unit C Everett, WA	3.0	3.0	1637	$3,200	$1.95	11d	1	1.20mi
2601 106th Pl SE Everett, WA	3.0	2.0	1221	$3,245	$2.66	13d	1	1.22mi
1020 112th St SW Everett, WA	1.0–2.0	1.0–2.0	853	$1,752	$2.05	0d	8	1.23mi
222 W Marilyn Ave Everett, WA	3.0	1.0	1000	$2,400	$2.40	17d	1	1.25mi
1108 Center Rd Everett, WA	2.0	2.0	1200	$2,150	$1.79	15d	1	1.27mi
820 124th St SW Apt D Everett, WA	2.0	1.5	960	$1,595	$1.66	5d	1	1.28mi
13510 N Creek Dr Mill Creek, WA	1.0–4.0	1.0–2.0	1020	$1,642	$1.61	4d	1	1.29mi
11812 E Gibson Rd Everett, WA	2.0	2.0	956	$1,814	$1.90	0d	6	1.29mi
11719 12th Ave W Everett, WA	3.0	2.5	1533	$2,800	$1.83	45d	1	1.32mi
11727 12th Ave W #77 Everett, WA	3.0	2.5	1533	$3,100	$2.02	22d	1	1.33mi
10111 9th Ave W Everett, WA	1.0–2.0	1.0–2.5	1098	$2,550	$2.32	5d	4	1.33mi
12522 8th Ave W Everett, WA	1.0–3.0	1.0–2.0	1005	$2,146	$2.13	0d	9	1.35mi
233 Dorn Ave Unit 1 Everett, WA	2.0	1.0	944	$1,950	$2.07	11d	1	1.40mi
12121 Admiralty Way Everett, WA	1.0–3.0	1.0–2.0	1116	$2,245	$2.01	0d	16	1.40mi
9515 Holly Dr Unit 1 Everett, WA	3.0	2.5	1600	$3,000	$1.88	44d	1	1.41mi

Listing history 4 events

1. 2026-06-21
   days on market $148,888 Active 31 DOM
2. 2026-06-18
   days on market $148,888 Active 28 DOM
3. 2026-06-17
   pricedays on market $148,888 Active 27 DOM
4. 2026-04-25
   listed $124,998 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: $27,221
• − Mortgage interest: −$8,340
• − Property taxes: −$2,233
• − Insurance: −$744
• − Repairs & maintenance: −$2,178
• − Management: −$2,178
• − Depreciation: −$4,331
• Taxable income: $7,217
• Est. tax owed @ 24.0%: −$1,732
• After-tax cash flow: $7,426/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: Everett School District
• NCES district ID: 5302670
• Math proficiency: 60% ▲ 1.00%
• Reading proficiency: 72% ▲ 1.00%
• Median HH income: $66,815
• Composite: 59.0/100
• National rank: #1964
• State rank: #26 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

• Census place: Everett, WA
• County: Snohomish County · 786,756 people
• City population: 173,457
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 60,915
• Household income: $103,705
• Rent vs Own: 30.5% rent · 69.5% own
• Severe rent burden: 1617.0

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 0.65)
• Race & ethnicity: White 55% Asian 17% Hispanic / Latino 14% Two or more races 13% Black 5%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Portuguese 5% Italian 3% Slovak 2%
• Foreign-born: 27% · Canada, Vietnam, South Korea
• Languages at home: 66% English-only · Spanish 9% Vietnamese 4% Other Asian/Pacific 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: ▼ -884.74%
• Current HPI: 337.856
• Rent YoY: ▼ -3.16%
• 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

+19.1% since first listed

5 events — show timeline

• 2026-06-17 Relisted — NWMLS as Distributed by MLS Grid
• 2026-06-17 Price Changed $148,888 NWMLS as Distributed by MLS Grid
• 2026-05-30 Relisted — NWMLS as Distributed by MLS Grid
• 2026-05-22 Pending — NWMLS as Distributed by MLS Grid
• 2026-04-25 Listed $124,998 NWMLS as Distributed by MLS Grid

Property tax history

-7.5%/yr

Latest (2026): $109 · -3.2% YoY. Source: county tax records.