3333 228th St SE #34 · Bothell, WA 98021

$92,495

3 bd · 1.0 ba · 924 sqft · Manufactured public records · 34 Days on market

Built 1976 $100/sqft · at area comps Est $89k · 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 +6.7/10.0
• ARV discount +5.8/15.0
• Livability +4.2/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Enjoy the ease and comfort of 55+ living in this beautifully remodeled 3-bedroom, 2-bath single-wide manufactured home in Bothell. Nestled in a well-kept community designed for convenience and connection, residents enjoy access to a clubhouse, inviting hangout spaces, a billiards lounge room, and a relaxing lounge area that make it easy to stay active, social, and engaged. Inside, this home has been fully updated with a fresh, modern feel and a thoughtful layout that offers both functionality and comfort. The three-bedroom design provides flexibility for guests, hobbies, a home office, or extra storage, while two full bathrooms add everyday convenience. Located just minutes from major highw

Key facts

• Clubhouse
• Relaxing lounge area
• Fully updated

Tags

• REMODELED HOME
• WELL-KEPT COMMUNITY
• CLUBHOUSE
• BILLIARDS LOUNGE ROOM
• RELAXING LOUNGE AREA
• FULLY UPDATED

Property features AI

Finance

• Other: Seller-provided square footage (905); Manufacturer not built after 6/15/1976; Power provided via electric
• Financial info: Land lease amount approximately $1,200 per month; Cash sale terms
• HOA & community: Park allows pets; Senior community; Canyon Mobile park with 144 homes; Land lease in park

Exterior

• Parking: 2 open uncovered parking spaces
• Utilities: Electric energy source
• Home design: Manufactured single-wide home; One level; Manufactured house structure; Mobile home remains on site
• Construction: Wood construction; Pillar/post/pier foundation
• Exterior features: Wood exterior products; Flat roof

Interior

• Bedrooms: 3 bedrooms
• Flooring: Laminate
• Bathrooms: 1 full bath; 1 half bath; 1 bathtub
• Heating & cooling: Baseboard heating; No cooling
• Interior features: Laminate flooring; Baseboard heating; No central air conditioning

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $92k.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $92k).
• Recommended offer: $90k (3.0% below list) — sets the bar for market timing.
• Cap rate 33.1% vs local median 1.5% in Bothell — 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 (#53 in WA, #962 nationally) — a professional / high-income tenant draw. Strengths: schools A+, commute A+, employment A+; Watch: amenities C-, cost of living F.
• Northshore School District (suburban): math 69% / reading 78% proficiency, ranked #9 of 291 in WA (top 3%) — strong family-tenant draw, lease renewals of 3-5y typical; only 12% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+1.8%/yr); 254 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 2d 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 $639 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 + 1.8% rent growth), your $26k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($90k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 16y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $20k; list at $92k implies a 374% gain — meaningful room to come down on a strong offer.

Recommended offer $89,720 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 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 1976 — 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 A-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: 3.57% ✓
• Cap rate: 33.07%
• Cash-on-cash: 95.64%
• DSCR: 5.26
• GRM: 2.3

CMA / ARV

• ARV (median comp): $89,041
• List price: $92,495
• Delta: 3.88%
• Verdict: FAIR
• Comps: 18 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3333 228th St SE #115	0.00mi	2/1.0 (-1)	910 (-2%)	20mo	$95,000	$104	76
3333 228th St SE #69	0.00mi	2/1.0 (-1)	785 (-15%)	2mo	$82,500	$105	68
3333 SE 228th St #74	0.00mi	2/2.0 (-1)	1,040 (+13%)	7mo	$110,000	$106	64

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 · 1.75% rent growth · sell at horizon

5-year hold

• IRR: 95.2%
• Equity multiple: 5.34×
• Total profit: $112,363
• Equity at exit: $13,791

10-year hold

• IRR: 97.7%
• Equity multiple: 10.68×
• Total profit: $250,679
• Equity at exit: $7,997

Cash invested: $25,899 (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 98021

• Rents YoY: 1.8%
• Active inventory: 254
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $3,300 high
• Mortgage (P&I): −$485
• Tax from tax record: −$19 /mo · $228/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$693
• Net cashflow: $2,064

Break-even live

Break-even rent $687

Max offer price $92,495

Occupancy floor 32%

Sensitivity live

Price	-10% $2,116	-5% $2,090	+0% $2,064	+5% $2,038	+10% $2,012
Rent	-10% $1,803	-5% $1,934	+0% $2,064	+5% $2,194	+10% $2,325
Rate	-1.0pp $2,111	-0.5pp $2,088	base $2,064	+0.5pp $2,040	+1.0pp $2,016

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: $23,124
• Closing costs: $2,775
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23028 27th Ave SE Bothell, WA	1.0–3.0	1.0–2.0	880	$3,348	$3.80	2d	16	0.53mi
2207 227th St SE Bothell, WA	1.0–3.0	1.0–2.0	846	$2,767	$3.27	2d	8	0.73mi
23940 40th Dr SE Bothell, WA	1.0–3.0	1.0–2.5	1151	$3,637	$3.16	2d	12	0.92mi
1630 228th St SE Bothell, WA	1.0–3.0	1.0–2.0	940	$3,057	$3.25	2d	11	1.05mi
21623 16th Dr SE Bothell, WA	1.0–3.0	1.0–2.0	990	$3,295	$3.33	3d	11	1.28mi

Listing history 20 events

1. 2026-06-18
   days on market $92,495 Active 34 DOM
2. 2026-06-17
   days on market $92,495 Active 33 DOM
3. 2026-06-16
   days on market $92,495 Active 32 DOM
4. 2026-06-15
   days on market $92,495 Active 31 DOM
5. 2026-06-13
   days on market $92,495 Active 29 DOM
6. 2026-06-13
   days on market $92,495 Active 28 DOM
7. 2026-06-09
   days on market $92,495 Active 25 DOM
8. 2026-06-08
   days on market $92,495 Active 24 DOM
9. 2026-06-07
   days on market $92,495 Active 23 DOM
10. 2026-06-04
    days on market $92,495 Active 20 DOM
11. 2026-06-03
    days on market $92,495 Active 19 DOM
12. 2026-06-02
    days on market $92,495 Active 18 DOM
13. 2026-06-01
    days on market $92,495 Active 17 DOM
14. 2026-05-31
    days on market $92,495 Active 16 DOM
15. 2026-05-15
    listed $92,495 Active
16. 2011-08-18
    soldstatus $19,500 Sold
17. 2011-07-29
    status Pending
18. 2011-07-20
    status Pending Inspection
19. 2011-05-30
    price $22,500
20. 2010-12-06
    listed $25,000 Active

ⓘ 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: $228 · $19/mo
• Projected year-2 tax: $906 · $76/mo
• Expected delta: +$678/yr (+$57/mo · 297.1%)

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

Taxation est. · year 1

• Rental income: $39,595
• − Mortgage interest: −$5,181
• − Property taxes: −$228
• − Insurance: −$462
• − Repairs & maintenance: −$3,168
• − Management: −$3,168
• − Depreciation: −$2,691
• Taxable income: $24,697
• Est. tax owed @ 24.0%: −$5,927
• After-tax cash flow: $18,841/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: Northshore School District
• NCES district ID: 5305910
• Math proficiency: 69% ▼ -3.00%
• Reading proficiency: 78% ▼ -1.00%
• Median HH income: $92,951
• Composite: 67.41/100
• National rank: #826
• State rank: #9 of 291 in WA

Livability — Bothell

• Score: 83/100
• State rank: #53
• US rank: #962

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: Bothell, WA
• County: Snohomish County · 786,756 people
• City population: 141,635
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 35,631
• Household income: $183,786
• Rent vs Own: 18.9% rent · 81.1% own
• Severe rent burden: 413.0

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 0.61)
• Race & ethnicity: White 55% Asian 29% Two or more races 9% Hispanic / Latino 9% Black 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Portuguese 4% Italian 3% Lithuanian 2%
• Foreign-born: 29% · China, Canada, South Korea
• Languages at home: 65% English-only · Other Indo-European 11% Other Asian/Pacific 6% Chinese 6%

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: ▼ -903.22%
• Current HPI: 380.5475
• Rent YoY: ▲ 1.75%
• 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

+270.0% since first listed

6 events — show timeline

• 2026-05-15 Listed $92,495 NWMLS as Distributed by MLS Grid
• 2011-08-18 Sold (MLS) $19,500 NWMLS as Distributed by MLS Grid
• 2011-07-29 Pending — NWMLS as Distributed by MLS Grid
• 2011-07-20 Pending — NWMLS as Distributed by MLS Grid
• 2011-05-30 Price Changed $22,500 NWMLS as Distributed by MLS Grid
• 2010-12-06 Listed $25,000 NWMLS as Distributed by MLS Grid

Property tax history

+6.0%/yr

Latest (2026): $228 · +19.0% YoY. Source: county tax records.