620 112th St SE #352 · Everett, WA 98208

$115,000

2 bd · 2.0 ba · 1,211 sqft · Manufactured public records · 72 Days on market

Built 1984 $95/sqft · 23% below area Est $150k · 23% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Well-maintained 2 bed, 2 bath double-wide in Lago De Plata, a desirable 55+ community offering convenient, low-maintenance living. This 1,211 sq ft home features a bright, open layout with thoughtful updates in the kitchen and bathrooms, creating a comfortable move-in ready space. Covered parking, additional storage, and a private backyard provide both convenience and privacy. Updated plumbing, HW tank and insulation in 2024. Community amenities include a clubhouse, swimming pool, exercise room, enclosed dog park, and RV parking. Excellent location close to shopping, dining, and everyday services. A great opportunity to enjoy relaxed living in a welcoming community.

Key facts

• Clubhouse
• Private backyard
• Community amenities

Tags

• PRIVATE BACKYARD
• UPDATED PLUMBING
• COMMUNITY AMENITIES
• CLUBHOUSE
• SWIMMING POOL
• EXERCISE ROOM

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $115k.

Deal economics

• At list price, monthly cash flow is $850 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $108k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.2% 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.
• 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.
• Zoned schools: Silver Lake Elementary (584 students, 60% FRL); Eisenhower Middle School (880 students, 52% FRL); Cascade High School (1,793 students, 53% FRL) — zoned schools average 55% FRL vs 31% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• 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 4d 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 $795 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 + 0.0% rent growth), your $32k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 10y ago; this cycle's ask has dropped $13k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $108,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.81% ✓
• Cap rate: 15.16%
• Cash-on-cash: 31.67%
• DSCR: 2.41
• GRM: 4.6

CMA / ARV

• ARV (median comp): $149,961
• List price: $115,000
• Delta: -23.31%
• Verdict: UNDERPRICED
• Comps: 13 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 #218	0.00mi	2/2.0	1,272 (+5%)	14mo	$120,000	$94	80
620 112th St SE #153	0.00mi	2/2.0	1,340 (+11%)	12mo	$110,000	$82	72
11622 Silver Lake Rd #70	0.28mi	3/2.0 (+1)	1,188 (-2%)	9mo	$152,500	$128	71
11622 Silver Lake Rd #90	0.28mi	2/2.0	1,152 (-5%)	10mo	$85,000	$74	71
11622 Silver Lake Rd #84	0.28mi	2/2.0	1,248 (+3%)	13mo	$130,000	$104	71
620 112th St SE #189	0.00mi	2/2.0	1,390 (+15%)	8mo	$145,500	$105	69
12030 Andrew Sater Rd	0.43mi	2/2.0	1,264 (+4%)	7mo	$85,000	$67	67
11622 Silver Lake Rd #58	0.28mi	2/2.0	1,344 (+11%)	4mo	$78,000	$58	65
11622 Silver Lake Rd #30	0.28mi	2/2.0	1,344 (+11%)	7mo	$150,000	$112	63
620 112th St SE #196	0.00mi	3/2.0 (+1)	1,030 (-15%)	15mo	$155,000	$150	58
11622 Silver Lake Rd #14	0.28mi	1/1.5 (-1)	1,072 (-12%)	7mo	$65,000	$61	55
11500 Meridian Ave S #22	0.64mi	3/2.0 (+1)	1,290 (+6%)	10mo	$199,000	$154	46

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: 23.1%
• Equity multiple: 1.91×
• Total profit: $29,416
• Equity at exit: $17,147

10-year hold

• IRR: 29.1%
• Equity multiple: 3.23×
• Total profit: $71,854
• Equity at exit: $9,943

Cash invested: $32,200 (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: 4.6×

Monthly cashflow live

• Estimated rent: $2,082 high
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $850

Break-even live

Break-even rent $1,006

Max offer price $115,000

Occupancy floor 54%

Sensitivity live

Price	-10% $929	-5% $889	+0% $850	+5% $810	+10% $770
Rent	-10% $685	-5% $768	+0% $850	+5% $932	+10% $1,014
Rate	-1.0pp $908	-0.5pp $879	base $850	+0.5pp $820	+1.0pp $790

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: $28,750
• Closing costs: $3,450
• 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	3d	6	0.17mi
1009 112th St SE Everett, WA	2.0	2.0	860	$1,995	$2.32	6d	1	0.20mi
11401 3rd Ave SE Everett, WA	2.0	1.0–2.0	862	$1,892	$2.20	1d	15	0.21mi
515 112th St SE Everett, WA	2.0–3.0	2.0–2.5	1050	$1,745	$1.66	1d	2	0.24mi
11005 16th Ave SE Everett, WA	1.0–2.0	1.0–2.0	841	$2,031	$2.41	1d	5	0.58mi
133 124th St SE Everett, WA	1.0–2.0	1.0–2.0	820	$2,055	$2.50	3d	9	0.69mi
1304 Bruskrud Rd Everett, WA	2.0	1.5–2.0	900	$2,000	$2.22	1d	5	0.71mi
1701 121st St SE Everett, WA	1.0–3.0	1.0–2.0	867	$2,354	$2.71	3d	12	0.78mi
10101 7th Ave SE Everett, WA	1.0–3.0	1.0–2.0	1073	$2,277	$2.12	0d	14	0.84mi
305 127th St SE Unit A Everett, WA	2.0	2.5	1456	$2,649	$1.82	45d	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	1d	14	0.88mi
128 127th St SE Everett, WA	3.0	1.0–2.0	884	$2,747	$3.11	0d	11	0.88mi
11225 19th Ave SE Everett, WA	1.0–3.0	1.0–2.0	925	$2,230	$2.41	1d	10	0.90mi
12115 19th Ave SE Everett, WA	1.0–3.0	1.0–2.0	884	$2,098	$2.37	0d	12	0.97mi
11311 19th Ave SE Everett, WA	1.0–3.0	1.0–2.0	932	$2,283	$2.45	1d	14	1.00mi
923 112th St SW Everett, WA	1.0–3.0	1.0–2.0	858	$1,950	$2.27	3d	24	1.11mi
11207 9th Pl W Everett, WA	2.0	1.0	995	$1,899	$1.91	21d	7	1.14mi
215 100th St SW Everett, WA	2.0	2.0	856	$1,845	$2.16	6d	1	1.15mi
12600 4th Ave W Everett, WA	2.0	2.5	1336	$2,295	$1.72	18d	1	1.16mi
9925 4th Ave W Apt 9 Everett, WA	1.0	1.0	800	$1,245	$1.56	3d	1	1.16mi
9925 4th Ave W Apt 6 Everett, WA	2.0	2.0	1000	$1,445	$1.45	3d	1	1.16mi
13401 Dumas Rd Mill Creek, WA	1.0–2.0	1.0–2.0	872	$2,187	$2.51	0d	5	1.16mi
2601 106th Pl SE Everett, WA	3.0	2.0	1221	$3,245	$2.66	14d	1	1.22mi
12601 8th Ave W Everett, WA	2.0	1.0	637	$1,839	$2.88	6d	15	1.22mi
13004 Meridian Ave S Everett, WA	1.0	1.0	816	$1,642	$2.01	1d	1	1.24mi
222 W Marilyn Ave Everett, WA	3.0	1.0	1000	$2,400	$2.40	18d	1	1.25mi
1108 Center Rd Everett, WA	2.0	2.0	1200	$2,150	$1.79	16d	1	1.27mi
820 124th St SW Apt D Everett, WA	2.0	1.5	960	$1,595	$1.66	6d	1	1.28mi
13510 N Creek Dr Mill Creek, WA	1.0–4.0	1.0–2.0	1020	$1,642	$1.61	5d	1	1.29mi
11812 E Gibson Rd Everett, WA	2.0	2.0	956	$1,814	$1.90	1d	6	1.29mi
10111 9th Ave W Everett, WA	1.0–2.0	1.0–2.5	1098	$2,550	$2.32	6d	4	1.33mi
12522 8th Ave W Everett, WA	1.0–3.0	1.0–2.0	1005	$2,146	$2.13	1d	9	1.35mi
9615 Holly Dr Everett, WA	1.0–2.0	1.0	645	$2,220	$3.44	6d	1	1.38mi
233 Dorn Ave Unit 1 Everett, WA	2.0	1.0	944	$1,950	$2.07	12d	1	1.40mi
12121 Admiralty Way Everett, WA	1.0–3.0	1.0–2.0	1116	$2,245	$2.01	0d	15	1.40mi
13105 21st Dr SE Everett, WA	2.0	2.0	1070	$1,899	$1.77	1d	5	1.41mi
229 Dorn Ave Unit C101 Everett, WA	3.0	2.5	1452	$2,900	$2.00	0d	1	1.41mi
10115 Holly Dr Everett, WA	1.0–3.0	1.0–2.0	1003	$2,278	$2.27	11d	22	1.43mi
10115 Holly Dr Everett, WA	1.0–3.0	1.0–2.0	1003	$2,208	$2.20	1d	25	1.43mi

Listing history 15 events

1. 2026-06-02
   status $115,000 Pending 72 DOM
2. 2026-06-01
   days on market $115,000 Active 72 DOM
3. 2026-05-31
   days on market $115,000 Active 71 DOM
4. 2026-04-27
   status Active
5. 2026-04-18
   status Pending
6. 2026-04-02
   price $120,000
7. 2026-03-11
   listed $128,000 Active
8. 2021-06-18
   soldstatus $105,000 Closed
9. 2021-05-29
   status Pending
10. 2021-05-27
    listed $105,000 Active
11. 2016-04-28
    soldstatus $42,000 Sold
12. 2016-04-07
    status Pending Inspection
13. 2016-03-15
    status Active
14. 2016-03-15
    status Pending Inspection
15. 2016-03-03
    listed $44,000 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: $24,979
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$1,998
• − Management: −$1,998
• − Depreciation: −$3,345
• Taxable income: $8,895
• Est. tax owed @ 24.0%: −$2,135
• After-tax cash flow: $8,062/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

+172.7% since first listed

12 events — show timeline

• 2026-04-27 Relisted — NWMLS as Distributed by MLS Grid
• 2026-04-18 Pending — NWMLS as Distributed by MLS Grid
• 2026-04-02 Price Changed $120,000 NWMLS as Distributed by MLS Grid
• 2026-03-11 Listed $128,000 NWMLS as Distributed by MLS Grid
• 2021-06-18 Sold (MLS) $105,000 NWMLS as Distributed by MLS Grid
• 2021-05-29 Pending — NWMLS as Distributed by MLS Grid
• 2021-05-27 Listed $105,000 NWMLS as Distributed by MLS Grid
• 2016-04-28 Sold (MLS) $42,000 NWMLS as Distributed by MLS Grid
• 2016-04-07 Pending — NWMLS as Distributed by MLS Grid
• 2016-03-15 Relisted — NWMLS as Distributed by MLS Grid
• 2016-03-15 Pending — NWMLS as Distributed by MLS Grid
• 2016-03-03 Listed $44,000 NWMLS as Distributed by MLS Grid

Property tax history

-8.4%/yr

Latest (2026): $129 · -3.2% YoY. Source: county tax records.