1316 91ST Ave SE #47 · Lake Stevens, WA 98258

$159,950

2 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 14 Days on market

Built 1977

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Why this score? — see what drove the A- 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 +5.8/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Frontier Manor, a desirable 55+ resident-owned co-op community where residents own a share of the park. This refurbished home features a new roof, hot water tank, new paint inside and new laminated flooring with double-pane windows for improved efficiency. All appliances included. Community amenities include a clubhouse with common area and exercise room, plus available RV parking. Conveniently located near shopping, parks, and public transportation, with easy access to Hwy 2 and Hwy 9. Two pets allowed under 25 lbs.

Key facts

• Hot water tank
• Clubhouse
• New paint

Tags

• NEW ROOF
• HOT WATER TANK
• NEW PAINT
• NEW LAMINATED FLOORING
• DOUBLE-PANE WINDOWS
• CLUBHOUSE

Property features AI

Finance

• Financial info: Accepted financing: Cash or Conventional; Monthly land lease: $1,048
• HOA & community: Located in Frontier Park manufactured-home community (approx. 68 homes); Park amenities include clubhouse, common area, high-speed internet available, recreational area, RV parking; Park approved for sale; Pets allowed; Land lease

Exterior

• Parking: Carport
• Utilities: Public water (Co-op); Public sewer (Co-op); Electric service (PUD); Cable: Xfinity; Internet: Xfinity; Interior-closet electric water heater
• Home design: Manufactured double-wide (Fleetwood Barrington); Single-level; Faces west; Very good condition; Mobile home remains in place
• Construction: Metal skirting; Metal/vinyl construction materials; Composition roof; Tie-down foundation
• Exterior features: Metal/vinyl exterior; Dead-end street; Paved access; Has view

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove/Range
• Bedrooms: 2 bedrooms
• Flooring: Laminate flooring; Carpet
• Bathrooms: 1 full bath; 1 three-quarter bath
• Heating & cooling: Heat pump heating; Window air conditioning unit(s)
• Interior features: Electric water heater; Electric fireplace; Ceiling fan(s); Drapes; Walk-in closet
• Laundry & utility: Washer; Dryer; Utility room

🏢 Co-op / cooperative unit. The $159,950 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $160k.

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 $160k).
• Cap rate 13.9% vs local median 2.8% in Lake Stevens — 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 (#51 in WA, #917 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: amenities C-, cost of living F.
• Lake Stevens School District (suburban): math 57% / reading 70% proficiency, ranked #31 of 291 in WA (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents flat; 418 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 6d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 + 0.2% rent growth), your $45k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $159,950

Questions for the listing agent

1. Built in 1977 — 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 B-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: 1.56% ✓
• Cap rate: 13.88%
• Cash-on-cash: 27.10%
• DSCR: 2.21
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $194,688
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1316 91st Ave SE #9	0.00mi	2/2.0	1,248 (+8%)	2mo	$128,500	$103	84
1316 91st Ave SE #29	0.00mi	3/2.0 (+1)	1,188 (+3%)	21mo	$201,000	$169	72
8430 15th Pl SE #53	0.34mi	3/2.0 (+1)	1,296 (+12%)	13mo	$199,950	$154	48
9304 13th Pl SE	0.27mi	3/2.0 (+1)	1,296 (+12%)	17mo	$525,000	$405	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 · 0.19% rent growth · sell at horizon

5-year hold

• IRR: 18.0%
• Equity multiple: 1.71×
• Total profit: $31,585
• Equity at exit: $23,849

10-year hold

• IRR: 24.5%
• Equity multiple: 2.87×
• Total profit: $83,651
• Equity at exit: $13,830

Cash invested: $44,786 (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 98258

• Rents YoY: 0.2%
• Active inventory: 418
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $2,490 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$51 /mo · $608/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$523
• Net cashflow: $1,011

Break-even live

Break-even rent $1,210

Max offer price $159,950

Occupancy floor 54%

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: $39,988
• Closing costs: $4,798
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9504 Chapel Hill Rd Lake Stevens, WA	3.0	2.5	1340	$2,950	$2.20	5d	1	0.89mi
10227 20th St SE Lake Stevens, WA	1.0	1.0	720	$1,992	$2.76	2d	7	0.90mi
7412 19th Pl SE Lake Stevens, WA	3.0	2.0	1374	$1,400	$1.02	5d	1	0.95mi
409 97th Dr NE Unit A Lake Stevens, WA	2.0	1.0	832	$1,999	$2.40	15d	1	1.23mi
816 96th Ave NE Unit A Lake Stevens, WA	2.0	1.0	900	$2,100	$2.33	13d	1	1.44mi

Listing history 10 events

1. 2026-06-18
   days on market $159,950 Active 14 DOM
2. 2026-06-17
   days on market $159,950 Active 13 DOM
3. 2026-06-16
   days on market $159,950 Active 12 DOM
4. 2026-06-15
   days on market $159,950 Active 11 DOM
5. 2026-06-13
   days on market $159,950 Active 9 DOM
6. 2026-06-13
   days on market $159,950 Active 8 DOM
7. 2026-06-09
   days on market $159,950 Active 5 DOM
8. 2026-06-08
   days on market $159,950 Active 4 DOM
9. 2026-06-07
   remarks 533-char remark
10. 2026-06-07
    listed $159,950 Active 3 DOM

ⓘ 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: $608 · $51/mo
• Projected year-2 tax: $1,568 · $131/mo
• Expected delta: +$959/yr (+$80/mo · 157.7%)

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

Taxation est. · year 1

• Rental income: $29,884
• − Mortgage interest: −$8,960
• − Property taxes: −$608
• − Insurance: −$800
• − Repairs & maintenance: −$2,391
• − Management: −$2,391
• − Depreciation: −$4,653
• Taxable income: $10,082
• Est. tax owed @ 24.0%: −$2,420
• After-tax cash flow: $9,715/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: Lake Stevens School District
• NCES district ID: 5304200
• Math proficiency: 57% ▼ -2.00%
• Reading proficiency: 70% ▬ 0.00%
• Median HH income: $78,301
• Composite: 58.12/100
• National rank: #2141
• State rank: #31 of 291 in WA

Livability — Lake Stevens

• Score: 83/100
• State rank: #51
• US rank: #917

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: Lake Stevens, WA
• County: Snohomish County · 786,756 people
• City population: 52,752
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 52,752
• Household income: $123,898
• Rent vs Own: 21.5% rent · 78.5% own
• Severe rent burden: 786.0

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 (73%)
• Race & ethnicity: White 73% Hispanic / Latino 12% Two or more races 11% Asian 6% Black 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Portuguese 7% Italian 3% Slovak 2%
• Foreign-born: 10% · Canada, Vietnam, China
• Languages at home: 87% English-only · Spanish 5% Russian/Polish/Slavic 2% Other Indo-European 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: ▼ -725.77%
• Current HPI: 303.8934
• Rent YoY: ▲ 0.19%
• 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

• 2026-06-04 Listed $159,950 NWMLS as Distributed by MLS Grid

Property tax history

+9.8%/yr

Latest (2026): $608 · +2.0% YoY. Source: county tax records.