5220 176th St SW #69 · Lynnwood, WA 98037

$159,999

3 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 68 Days on market

Built 1969 $119/sqft · 18% above area Est $136k · 18% over

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Why this score? — see what drove the C+ 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 +5.4/10.0
• Livability +3.9/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this newly updated home in Kingsbury West, an active 55+ community! This 2 bedroom 2 bathroom manufactured home is sure to go fast. Completely renovated and brought back to life this bright, welcoming home features custom kitchen cabinets with soft close doors and drawers, granite countertops, tile and laminate flooring, tankless on demand water heater, all new lighting, the list goes on. Don't forget about the ductless mini splits that will keep you comfortable all year long! Residents may also rent the clubhouse to host events and are invited to and encouraged to attend the "community" hosted potlucks. Lot rent is $972/mo and includes W/ S/G.

Key facts

• Ductless mini splits
• Granite countertops
• Built 1969

Tags

• CUSTOM KITCHEN CABINETS
• GRANITE COUNTERTOPS
• TILE AND LAMINATE FLOORING
• DUCTLESS MINI SPLITS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $160k.

Deal economics

• At list price, monthly cash flow is $981 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $150k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.7% vs local median 2.2% in Lynnwood — 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 77/100 on livability (#150 in WA, #3,226 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, employment A; Watch: crime F, cost of living F.
• Edmonds School District (suburban): math 54% / reading 65% proficiency, ranked #53 of 291 in WA (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.4%/yr); 173 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 11d 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 $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 + 1.4% rent growth), your $45k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 3 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 $12k; list at $160k implies a 1233% gain — meaningful room to come down on a strong offer.

Recommended offer $150,399 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is F 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?
6. 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.
7. 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.
8. 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: 1.53% ✓
• Cap rate: 13.65%
• Cash-on-cash: 26.29%
• DSCR: 2.17
• GRM: 5.4

CMA / ARV

• ARV (median comp): $135,550
• List price: $159,999
• Delta: 18.04%
• Verdict: OVERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5220 176th St SW #9	0.00mi	2/2.0 (-1)	1,336 (-1%)	12mo	$73,800	$55	84
5220 176 St SW #76	0.00mi	2/2.0 (-1)	1,436 (+7%)	2mo	$156,000	$109	82
5220 176th St SW #14	0.00mi	2/2.0 (-1)	1,330 (-1%)	15mo	$83,500	$63	81
5220 176TH St SW #10	0.00mi	3/2.0	1,464 (+9%)	12mo	$120,000	$82	75
5220 176th St SW #12	0.00mi	2/1.5 (-1)	1,200 (-11%)	12mo	$95,000	$79	65
5220 176th St SW #50	0.00mi	2/2.0 (-1)	1,200 (-11%)	22mo	$99,900	$83	58
4515 176th St SW #33	0.47mi	3/2.0	1,248 (-7%)	14mo	$157,000	$126	54
18501 52nd Ave W #83	0.52mi	2/2.0 (-1)	1,260 (-6%)	10mo	$135,000	$107	52
17408 44th Ave W #32	0.44mi	3/2.0	1,188 (-12%)	11mo	$225,000	$189	51

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 · 1.37% rent growth · sell at horizon

5-year hold

• IRR: 18.3%
• Equity multiple: 1.73×
• Total profit: $32,567
• Equity at exit: $23,856

10-year hold

• IRR: 25.6%
• Equity multiple: 3.07×
• Total profit: $92,922
• Equity at exit: $13,834

Cash invested: $44,800 (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 98037

• Rents YoY: 1.4%
• Active inventory: 173
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $2,447 high
• Mortgage (P&I): −$839
• Tax from tax record: −$46 /mo · $549/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$514
• Net cashflow: $981

Break-even live

Break-even rent $1,204

Max offer price $159,999

Occupancy floor 55%

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4816 176th St SW Lynnwood, WA	1.0–2.0	1.0–1.5	802	$1,970	$2.45	2d	6	0.23mi
4702 176th St SW Lynnwood, WA	1.0–2.0	1.0	886	$1,925	$2.17	2d	8	0.29mi
5419 172nd Pl SW Lynnwood, WA	3.0	2.0	980	$2,895	$2.95	24d	1	0.36mi
4502 176th St SW Unit 2 Lynnwood, WA	2.0	2.0	1004	$2,195	$2.19	43d	1	0.38mi
4432 176th St SW Unit 3 Lynnwood, WA	2.0	2.0	1004	$2,195	$2.19	43d	1	0.41mi
4432 176th St SW Unit 2 Lynnwood, WA	2.0	2.0	1004	$2,195	$2.19	23d	1	0.41mi
18400 52nd Ave W Lynnwood, WA	2.0	1.0	1092	$1,995	$1.83	43d	1	0.42mi
4428 176th St SW Unit 4 Lynnwood, WA	2.0	2.0	1004	$2,195	$2.19	23d	1	0.44mi
5620 183rd St SW Lynnwood, WA	1.0–2.0	1.0	787	$2,075	$2.63	2d	2	0.48mi
5624 183rd St SW Lynnwood, WA	1.0–2.0	1.0	787	$2,100	$2.67	4d	2	0.50mi
17529 44th Ave W Lynnwood, WA	2.0	1.0	1000	$2,395	$2.40	3d	1	0.52mi
17314 44th Ave W Unit C Lynnwood, WA	2.0	1.5	1000	$2,200	$2.20	17d	1	0.53mi
18534 52nd Ave W Lynnwood, WA	2.0	2.0	1100	$2,295	$2.09	1d	1	0.56mi
5707 186th Pl SW Unit 4-PLEX 1 Lynnwood, WA	2.0	2.0	1000	$2,135	$2.13	24d	1	0.58mi
18606 52nd Ave W Lynnwood, WA	2.0	2.0	1204	$2,325	$1.93	4d	1	0.60mi
5311 188th St SW Lynnwood, WA	2.0	1.5	1004	$2,500	$2.49	43d	1	0.65mi
17619 62nd Pl W Lynnwood, WA	3.0	1.0	1400	$2,695	$1.93	43d	1	0.67mi
16604 48th Ave W Lynnwood, WA	1.0–3.0	1.0–2.0	890	$2,550	$2.87	2d	9	0.70mi
16908 River Rock Dr Lynnwood, WA	3.0	2.0	1701	$3,750	$2.20	43d	1	0.71mi
16529 48th Ave W Unit A Edmonds, WA	3.0	2.5	1529	$3,500	$2.29	24d	1	0.77mi
4516 188th St SW Lynnwood, WA	3.0	1.0	1500	$2,895	$1.93	24d	1	0.79mi
16318 48th Ave W Edmonds, WA	3.0	1.0	1780	$2,850	$1.60	17d	1	0.89mi
16308 52nd Ave W Unit 4 Edmonds, WA	2.0	1.0	900	$1,795	$1.99	10d	1	0.89mi
18124 36th Ave W Lynnwood, WA	1.0–2.0	1.0–2.0	821	$2,155	$2.62	2d	8	1.01mi
4525 164th St SW Lynnwood, WA	2.0–3.0	1.0–2.0	1093	$2,609	$2.39	1d	13	1.03mi
18031 36th Ave W Lynnwood, WA	1.0–2.0	1.0–2.0	760	$2,186	$2.88	2d	6	1.05mi
4217 164th St SW Unit A204 Lynnwood, WA	3.0	2.0	1100	$2,450	$2.23	43d	1	1.12mi
18505 36th Ave W Lynnwood, WA	1.0–2.0	1.0–2.0	776	$2,356	$3.04	1d	9	1.15mi
16419 Spruce Way Unit H4 Lynnwood, WA	2.0	2.0	900	$2,350	$2.61	43d	1	1.19mi
16419 Spruce Way Lynnwood, WA	2.0	2.0	946	$2,550	$2.70	1d	1	1.19mi
15914 44th Ave W Lynnwood, WA	1.0–2.0	1.0–2.0	932	$2,159	$2.32	1d	10	1.21mi
3805 164th St SW Lynnwood, WA	1.0–2.0	1.0–2.0	843	$2,295	$2.72	1d	5	1.24mi
19309 40th Ave W Lynnwood, WA	2.0	1.0–1.5	707	$2,580	$3.65	43d	3	1.25mi
19801 50th Ave W Lynnwood, WA	1.0–2.0	1.0	825	$1,925	$2.33	4d	5	1.28mi
3711 164th St SW Lynnwood, WA	1.0–2.0	1.0–2.0	845	$2,533	$3.00	1d	7	1.30mi
16104 36th Ave W Lynnwood, WA	1.0–2.0	1.0	761	$2,099	$2.76	2d	6	1.32mi
15700 44th Ave W Lynnwood, WA	1.0–3.0	1.0–2.0	940	$2,343	$2.49	2d	1	1.33mi
19301 36th Ave W Lynnwood, WA	2.0	1.5	1080	$2,250	$2.08	24d	1	1.40mi
16111 36th Ave W Unit D4 Lynnwood, WA	3.0	4.0	1838	$3,700	$2.01	43d	1	1.41mi
4807 200th St SW Lynnwood, WA	2.0–3.0	1.0	935	$2,337	$2.50	1d	12	1.41mi

Listing history 22 events

1. 2026-06-18
   days on market $159,999 Active 68 DOM
2. 2026-06-17
   days on market $159,999 Active 67 DOM
3. 2026-06-16
   days on market $159,999 Active 66 DOM
4. 2026-06-15
   days on market $159,999 Active 65 DOM
5. 2026-06-13
   days on market $159,999 Active 63 DOM
6. 2026-06-13
   days on market $159,999 Active 62 DOM
7. 2026-06-09
   days on market $159,999 Active 59 DOM
8. 2026-06-08
   days on market $159,999 Active 58 DOM
9. 2026-06-07
   days on market $159,999 Active 57 DOM
10. 2026-06-04
    days on market $159,999 Active 54 DOM
11. 2026-06-03
    days on market $159,999 Active 53 DOM
12. 2026-06-02
    days on market $159,999 Active 52 DOM
13. 2026-06-01
    days on market $159,999 Active 51 DOM
14. 2026-05-31
    days on market $159,999 Active 50 DOM
15. 2026-04-11
    listed $159,999 Active 673-char remark

    Show marketing remark (673 chars)

    Welcome to this newly updated home in Kingsbury West, an active 55+ community! This 2 bedroom 2 bathroom manufactured home is sure to go fast. Completely renovated and brought back to life this bright, welcoming home features custom kitchen cabinets with soft close doors and drawers, granite countertops, tile and laminate flooring, tankless on demand water heater, all new lighting, the list goes on. Don't forget about the ductless mini splits that will keep you comfortable all year long! Residents may also rent the clubhouse to host events and are invited to and encouraged to attend the "community" hosted potlucks. Lot rent is $972/mo and includes W/ S/G.

16. 2010-08-11
    soldstatus $12,000 Sold
17. 2010-08-06
    status Pending
18. 2010-07-27
    historical
19. 2010-07-07
    status Active
20. 2010-06-23
    historical
21. 2010-06-14
    price $14,950
22. 2010-06-03
    listed $17,950 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: $549 · $46/mo
• Projected year-2 tax: $1,568 · $131/mo
• Expected delta: +$1,019/yr (+$85/mo · 185.6%)

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

Taxation est. · year 1

• Rental income: $29,358
• − Mortgage interest: −$8,962
• − Property taxes: −$549
• − Insurance: −$800
• − Repairs & maintenance: −$2,349
• − Management: −$2,349
• − Depreciation: −$4,655
• Taxable income: $9,695
• Est. tax owed @ 24.0%: −$2,327
• After-tax cash flow: $9,449/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: Edmonds School District
• NCES district ID: 5302400
• Math proficiency: 54% ▼ -1.00%
• Reading proficiency: 65% ▬ 0.00%
• Median HH income: $67,451
• Composite: 53.94/100
• National rank: #3026
• State rank: #53 of 291 in WA

Livability — Lynnwood

• Score: 77/100
• State rank: #150
• US rank: #3226

Category grades

Amenities B Commute A+ Cost of living F Crime F Employment A Housing B Health & safety A+ User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lynnwood, WA
• County: Snohomish County · 786,756 people
• City population: 152,865
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 29,723
• Household income: $107,281
• Rent vs Own: 38.4% rent · 61.6% own
• Severe rent burden: 1090.0

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 0.69)
• Race & ethnicity: White 48% Asian 23% Hispanic / Latino 15% Two or more races 12% Black 6%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Portuguese 3% Italian 3% Slovak 2%
• Foreign-born: 28% · Canada, China, South Korea
• Languages at home: 65% English-only · Spanish 10% Chinese 4% Korean 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: ▼ -847.19%
• Current HPI: 340.6136
• Rent YoY: ▲ 1.37%
• 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

+791.4% since first listed

8 events — show timeline

• 2026-04-11 Listed $159,999 IMLS
• 2010-08-11 Sold (MLS) $12,000 NWMLS as Distributed by MLS Grid
• 2010-08-06 Pending — NWMLS as Distributed by MLS Grid
• 2010-07-27 Delisted — NWMLS as Distributed by MLS Grid
• 2010-07-07 Relisted — NWMLS as Distributed by MLS Grid
• 2010-06-23 Delisted — NWMLS as Distributed by MLS Grid
• 2010-06-14 Price Changed $14,950 NWMLS as Distributed by MLS Grid
• 2010-06-03 Listed $17,950 NWMLS as Distributed by MLS Grid

Property tax history

+10.1%/yr

Latest (2026): $549 · +12.6% YoY. Source: county tax records.