10515 Woodinville Dr #4 · Bothell, WA 98011

$75,000

2 bd · 1.0 ba · 720 sqft · Manufactured · 4 Days on market

Built 1966 Est $110k · 32% under

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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 +6.7/10.0
• Livability +4.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

First time available in 30 years! Enjoy classic mid-century charm and exceptional value in a prime Bothell location, with easy access to nature, recreation, and everyday amenities. This classic Marlette features original wood built-in cabinetry and an open, functional layout made for everyday living. New carpeting and updated flooring throughout complement the home's original charm, while abundant built-in storage and two exterior sheds provide plenty of room for hobbies and everyday essentials. Relax on the covered deck or unwind in the brand-new hot tub, ready for its first owner to enjoy. Stay comfortable year-round with storm windows, window A/C, and a portable A/C unit. Located in the

Key facts

• Covered deck
• Two exterior sheds
• Brand-new hot tub

Tags

• MID-CENTURY CHARM
• OPEN FUNCTIONAL LAYOUT
• ABUNDANT BUILT-IN STORAGE
• TWO EXTERIOR SHEDS
• COVERED DECK
• BRAND-NEW HOT TUB

Property features AI

Finance

• Financial info: Listing terms: Cash
• HOA & community: Park name: Lazy Wheels; Park amenities: Clubhouse, Laundry; Land lease: $900/month (land lease amount)

Exterior

• Parking: Carport
• Utilities: Electric power
• Home design: Manufactured single-wide home; One level; Marlette model 60E/12; Good condition; Flat roof; Mobile home remains
• Construction: Metal/vinyl construction
• Exterior features: Metal/vinyl exterior; On waterfront / community waterfront with private beach; Patio / porch / deck; Has view

Interior

• Kitchen: Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Laminate; Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Window unit(s) for cooling; Electric energy source
• Interior features: Double pane windows; Hot tub / spa; Patio / porch / deck; Dining room; Kitchen without eating space; Living room; Refrigerator (included); See remarks
• Laundry & utility: Community laundry (park amenity)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $75k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Cap rate 27.8% 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 flat; 182 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 10,555 units permitted in King County in 2024 (7,119 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• King County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.2% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 26y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $75,000

Questions for the listing agent

1. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 3.15% ✓
• Cap rate: 27.83%
• Cash-on-cash: 76.92%
• DSCR: 4.42
• GRM: 2.6

CMA / ARV

• ARV (on-the-fly): $110,160
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10515 Woodinville Dr Unit #96	0.00mi	1/1.0 (-1)	700 (-3%)	23mo	$65,000	$93	71
11510 E Riverside Dr #48	0.66mi	2/1.0	720 (0%)	1mo	$109,950	$153	68
11330 E Riverside Dr #47	0.68mi	2/1.0	800 (+11%)	14mo	$95,000	$119	38
11330 E Riverside Dr #12	0.66mi	2/1.0	784 (+9%)	23mo	$139,950	$179	35

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 · 0.25% rent growth · sell at horizon

5-year hold

• IRR: 69.6%
• Equity multiple: 4.00×
• Total profit: $63,074
• Equity at exit: $11,183

10-year hold

• IRR: 72.8%
• Equity multiple: 7.45×
• Total profit: $135,503
• Equity at exit: $6,485

Cash invested: $21,000 (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 98011

• Rents YoY: 0.2%
• Active inventory: 182
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $2,360 high
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$496
• Net cashflow: $1,280

Break-even live

Break-even rent $740

Max offer price $75,000

Occupancy floor 41%

Sensitivity live

Price	-10% $1,332	-5% $1,306	+0% $1,280	+5% $1,254	+10% $1,228
Rent	-10% $1,093	-5% $1,187	+0% $1,280	+5% $1,373	+10% $1,466
Rate	-1.0pp $1,317	-0.5pp $1,299	base $1,280	+0.5pp $1,260	+1.0pp $1,241

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18120 102nd Ave NE Bothell, WA	2.0	1.0–2.0	833	$3,046	$3.65	3d	7	0.12mi
18414 104th Ave NE Bothell, WA	1.0–2.0	1.0–2.0	957	$2,999	$3.13	0d	10	0.19mi
18420 102nd Ave NE Bothell, WA	1.0–2.0	1.0–2.0	800	$2,986	$3.73	0d	10	0.21mi
10416 NE 185th St Bothell, WA	1.0	1.0	528	$2,029	$3.84	3d	3	0.23mi
10620 E Riverside Dr Unit 1 Bothell, WA	1.0	1.0	540	$1,500	$2.78	23d	1	0.24mi
10730 Beardslee Blvd Bothell, WA	1.0–2.0	1.0–1.5	793	$2,195	$2.77	45d	2	0.31mi
18141 Bothell Way NE Bothell, WA	1.0–2.0	1.0–2.0	909	$4,434	$4.88	0d	24	0.34mi
10735 Ross Rd Bothell, WA	1.0	1.0	620	$1,530	$2.47	25d	1	0.36mi
18333 Bothell Way NE Bothell, WA	1.0	1.0	802	$2,159	$2.69	4d	9	0.37mi
10144 NE 187th St Apt 52 Bothell, WA	1.0	1.0	650	$1,495	$2.30	6d	1	0.38mi
9924 NE 185th St Bothell, WA	1.0–3.0	1.0–2.0	1194	$2,952	$2.47	3d	7	0.42mi
18307 98th Ave NE Bothell, WA	1.0–2.0	1.0–2.0	769	$2,760	$3.59	3d	4	0.44mi
9634 Thorsk St Bothell, WA	1.0	1.0	661	$2,035	$3.08	3d	5	0.53mi
11119 Woodinville Dr Bothell, WA	1.0–2.0	1.0	680	$1,800	$2.65	0d	3	0.53mi
9525 NE 180th St Unit 306 Bothell, WA	1.0	1.0	740	$1,900	$2.57	4d	1	0.55mi
18209 96th Ave NE Bothell, WA	1.0	1.0	600	$1,850	$3.08	45d	1	0.56mi
9808 NE 188th St Unit 6 Bothell, WA	1.0	1.0	500	$1,645	$3.29	45d	1	0.57mi
9517 NE 180th St Bothell, WA	1.0	1.0	730	$1,900	$2.60	25d	2	0.57mi
9517 NE 180th St Unit B106 Bothell, WA	1.0	1.0	730	$2,200	$3.01	22d	1	0.57mi
17725 Hall Rd Bothell, WA	1.0–2.0	1.0	772	$1,950	$2.52	0d	2	0.64mi
9611 NE 191st St Bothell, WA	1.0	1.0	687	$1,979	$2.88	3d	5	0.70mi
19306 Bothell Way NE Bothell, WA	1.0	1.0	685	$1,695	$2.47	0d	2	0.74mi
16125 Juanita Woodinville Way NE Bothell, WA	1.0–2.0	1.0–2.5	921	$2,800	$3.04	45d	4	1.17mi
12109 Woodinville Dr Bothell, WA	1.0–3.0	1.0–2.0	965	$2,322	$2.41	6d	7	1.18mi
12207 NE 191st St Bothell, WA	3.0	1.0–3.0	1339	$3,775	$2.82	0d	1	1.21mi
12315 NE Woodinville Dr Woodinville, WA	1.0	1.0	610	$1,725	$2.83	4d	2	1.24mi
17512 83rd Pl NE Kenmore, WA	1.0–2.0	1.0–2.0	850	$2,250	$2.65	3d	4	1.33mi
18101 126th Ave NE Bothell, WA	1.0–3.0	1.0–2.0	921	$2,572	$2.79	0d	39	1.37mi

Listing history 3 events

1. 2026-06-21
   days on market $75,000 Active 4 DOM
2. 2026-06-17
   remarks 699-char remark
3. 2026-06-17
   listed $75,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥86°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 9 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,321
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$1,172
• − Repairs & maintenance: −$2,266
• − Management: −$2,266
• − Depreciation: −$2,182
• Taxable income: $15,110
• Est. tax owed @ 24.0%: −$3,626
• After-tax cash flow: $11,730/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: King County · 2,251,916 people
• City population: 141,635
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 28,963
• Household income: $131,667
• Rent vs Own: 42.1% rent · 57.9% own
• Severe rent burden: 1156.0

Population outlook (King County) Hauer SSP2

• Today (2025): 2,576,485 people
• By 2030: 2,803,316 · +8.8%
• By 2040: 3,255,921 · +26.4%
• By 2050: 3,706,444 · +43.9%
• By 2075: 4,746,063 · +84.2%
• By 2100: 5,407,730 · +109.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 64% Asian 17% Two or more races 11% Hispanic / Latino 10%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Portuguese 5% Italian 3% Romanian 3%
• Foreign-born: 21% · Canada, China, Vietnam
• Languages at home: 72% English-only · Spanish 7% Other Indo-European 6% Chinese 5%

Political lean MEDSL · King

• 2024 margin: Solid D (+51.7) · D 74.2% · R 22.5% · Other 3.4%
• 2008→2024 swing: +9.6pp toward D · 2008: 42.1pp · 2024: 51.7pp
• All cycles: 2024: D+51.7 2020: D+52.7 2016: D+50.4 2012: D+39.9 2008: D+42.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -779.77%
• Current HPI: 400.5642
• Rent YoY: ▲ 0.25%
• 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

+276.5% since first listed

3 events — show timeline

• 2026-06-17 Listed $75,000 NWMLS as Distributed by MLS Grid
• 2000-11-27 Delisted — NWMLS as Distributed by MLS Grid
• 2000-09-28 Listed $19,919 NWMLS as Distributed by MLS Grid