1316 91ST Ave SE #42 · Lake Stevens, WA 98258

$149,950

3 bd · 2.0 ba · 1,440 sqft · Manufactured public records · 45 Days on market

Built 1978

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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 well-maintained home features a newer furnace, heat pump, roof, and plumbing, along with double-pane windows for improved efficiency. All appliances included. Enjoy the covered porch adjacent to the enclosed two-car carport and the low-maintenance yard designed for easy living. A 10' x 14' and a 6x12 shed with power with loft space which offers additional storage for tools or hobbies. 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 t

Key facts

• 268 parking spots
• Built 1978
• Listed 44 days

Property features AI

Finance

• Other: Land lease applies
• Financial info: Listing terms: Cash or Conventional
• HOA & community: Located in Frontier Park (mobile home park); Park approved for sale; Senior community; Park amenities include clubhouse, common area, high-speed internet availability, recreational area, RV parking; 68 homes in the park; Pets allowed (see remarks)

Exterior

• Parking: Carport; RV parking available in park
• Utilities: Public water (Co-op water company); Sewer service (Co-op); Power provided by PUD; Cable connected (Xfinity); Internet connected (Xfinity); Electric energy source
• Home design: Manufactured double-wide home (Silvercrest Buckingham); One level; Mobile home remains; Has view
• Construction: Metal/vinyl construction materials; Composition roof
• Exterior features: Metal/vinyl exterior; Patio/porch/deck; Awnings; Landscaped; Corner lot, paved

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Kitchen with eating space; Dining area
• Bedrooms: 3 bedrooms
• Flooring: Laminate; Vinyl; Carpet
• Bathrooms: 2 full bathrooms (2 showers)
• Heating & cooling: Forced air heating; Heat pump (provides heating and cooling)
• Interior features: Water heater (electric) located in exterior closet; Vaulted ceilings; Ceiling fan(s); Double pane windows; Drapes; Skylights; Walk-in closet; Tie down foundation
• Laundry & utility: Washer; Dryer; Utility room

🏢 Co-op / cooperative unit. The $149,950 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 3-bed/2.0-bath manufactured listed at $150k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Recommended offer: $145k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.9% 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; 422 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 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 $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 + 0.2% rent growth), your $42k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $78k; list at $150k implies a 93% gain — meaningful room to come down on a strong offer.

Recommended offer $145,451 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.99% ✓
• Cap rate: 16.91%
• Cash-on-cash: 37.92%
• DSCR: 2.69
• GRM: 4.2

CMA / ARV

• ARV (median comp): $229,940
• List price: $149,950
• Delta: -34.79%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1316 91st Ave SE #3	0.00mi	3/2.0	1,440 (0%)	2mo	$167,000	$116	98
1316 91st Ave SE #15	0.00mi	2/2.0 (-1)	1,440 (0%)	4mo	$123,000	$85	92
8430 15th Pl SE #20	0.34mi	3/2.0	1,476 (+2%)	2mo	$224,950	$152	78
1316 91st Ave SE #24	0.00mi	2/2.0 (-1)	1,344 (-7%)	10mo	$185,000	$138	76
8430 15th Pl SE #63	0.34mi	3/2.0	1,512 (+5%)	0mo	$250,000	$165	75
8430 15th Pl SE #37	0.34mi	3/2.0	1,512 (+5%)	3mo	$214,950	$142	73
1316 91st Ave SE #9	0.00mi	2/2.0 (-1)	1,248 (-13%)	2mo	$128,500	$103	71
8430 15th Pl SE #56	0.34mi	3/2.0	1,508 (+5%)	8mo	$199,000	$132	70
8430 15th Pl SE #34	0.34mi	3/2.0	1,568 (+9%)	6mo	$249,950	$159	64
8430 15th Pl SE #73	0.34mi	2/2.0 (-1)	1,482 (+3%)	12mo	$230,000	$155	64
8411 15th Pl SE	0.29mi	3/2.0	1,620 (+12%)	7mo	$479,000	$296	60
8430 15th Pl SE #53	0.34mi	3/2.0	1,296 (-10%)	13mo	$199,950	$154	57

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: 30.7%
• Equity multiple: 2.24×
• Total profit: $52,019
• Equity at exit: $22,358

10-year hold

• IRR: 36.3%
• Equity multiple: 3.91×
• Total profit: $122,377
• Equity at exit: $12,965

Cash invested: $41,986 (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: 422
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $2,991 high
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,249/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$628
• Net cashflow: $1,327

Break-even live

Break-even rent $1,312

Max offer price $149,950

Occupancy floor 51%

Sensitivity live

Price	-10% $1,430	-5% $1,379	+0% $1,327	+5% $1,275	+10% $1,223
Rent	-10% $1,090	-5% $1,209	+0% $1,327	+5% $1,445	+10% $1,563
Rate	-1.0pp $1,402	-0.5pp $1,365	base $1,327	+0.5pp $1,288	+1.0pp $1,248

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: $37,488
• Closing costs: $4,498
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
609 84th Ave SE Lake Stevens, WA	4.0	3.0	1744	$2,800	$1.61	14d	1	0.53mi
7815 14th St SE Lake Stevens, WA	3.0	2.5	1587	$3,100	$1.95	25d	1	0.62mi
9504 Chapel Hill Rd Lake Stevens, WA	3.0	2.5	1340	$2,950	$2.20	6d	1	0.89mi
7412 19th Pl SE Lake Stevens, WA	3.0	2.0	1374	$1,400	$1.02	5d	1	0.95mi
610 103rd Ct SE Lake Stevens, WA	3.0	2.5	1870	$3,400	$1.82	21d	1	1.03mi
2430 106th Dr SE Lake Stevens, WA	3.0	2.5	1830	$3,000	$1.64	25d	1	1.30mi
816 96th Ave NE Unit A Lake Stevens, WA	2.0	1.0	900	$2,100	$2.33	14d	1	1.44mi

Listing history 25 events

1. 2026-06-21
   days on market $149,950 Active 45 DOM
2. 2026-06-18
   days on market $149,950 Active 42 DOM
3. 2026-06-17
   days on market $149,950 Active 41 DOM
4. 2026-06-16
   days on market $149,950 Active 40 DOM
5. 2026-06-15
   days on market $149,950 Active 39 DOM
6. 2026-06-13
   days on market $149,950 Active 37 DOM
7. 2026-06-13
   days on market $149,950 Active 36 DOM
8. 2026-06-09
   days on market $149,950 Active 33 DOM
9. 2026-06-08
   days on market $149,950 Active 32 DOM
10. 2026-06-07
    days on market $149,950 Active 31 DOM
11. 2026-06-04
    days on market $149,950 Active 28 DOM
12. 2026-06-03
    days on market $149,950 Active 27 DOM
13. 2026-06-02
    days on market $149,950 Active 26 DOM
14. 2026-06-01
    days on market $149,950 Active 25 DOM
15. 2026-05-31
    days on market $149,950 Active 24 DOM
16. 2026-05-07
    listed $159,950 Active
17. 2018-08-30
    soldstatus $77,850 Sold
18. 2018-08-10
    status Pending
19. 2018-07-31
    status Pending Inspection
20. 2018-07-24
    listed $91,500 Active
21. 2013-07-29
    soldstatus $23,000 Sold
22. 2013-07-09
    status Pending
23. 2013-06-28
    status Pending Inspection
24. 2013-05-11
    price $25,000
25. 2013-02-28
    listed $30,000 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: $35,893
• − Mortgage interest: −$8,400
• − Property taxes: −$2,249
• − Insurance: −$750
• − Repairs & maintenance: −$2,871
• − Management: −$2,871
• − Depreciation: −$4,362
• Taxable income: $14,390
• Est. tax owed @ 24.0%: −$3,454
• After-tax cash flow: $12,467/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

+399.8% since first listed

11 events — show timeline

• 2026-05-25 Price Changed $149,950 NWMLS as Distributed by MLS Grid
• 2026-05-07 Listed $159,950 NWMLS as Distributed by MLS Grid
• 2018-08-30 Sold (MLS) $77,850 NWMLS as Distributed by MLS Grid
• 2018-08-10 Pending — NWMLS as Distributed by MLS Grid
• 2018-07-31 Pending — NWMLS as Distributed by MLS Grid
• 2018-07-24 Listed $91,500 NWMLS as Distributed by MLS Grid
• 2013-07-29 Sold (MLS) $23,000 NWMLS as Distributed by MLS Grid
• 2013-07-09 Pending — NWMLS as Distributed by MLS Grid
• 2013-06-28 Pending — NWMLS as Distributed by MLS Grid
• 2013-05-11 Price Changed $25,000 NWMLS as Distributed by MLS Grid
• 2013-02-28 Listed $30,000 NWMLS as Distributed by MLS Grid

Property tax history

-10.2%/yr

Latest (2026): $55 · -4.2% YoY. Source: county tax records.