18501 52nd Ave #6 · Lynnwood, WA 98037

$89,500

2 bd · 1.0 ba · 970 sqft · Manufactured public records · 112 Days on market

Built 1963 $92/sqft · at area comps Est $92k · 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
• ARV discount +8.7/15.0
• Schools +5.4/10.0
• Livability +3.9/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Fully renovated 2-bedroom home in Royalwood, a gated 55+ community. Updates include a new roof, windows, flooring, water heater, and electrical panel. This bright home offers an open layout with abundant natural light and spacious living areas, including a large living room and expansive primary suite with flexible floorplan options. Enjoy an enclosed patio, large storage shed, and parking for two small cars. Community amenities include a renovated clubhouse with kitchen, fitness center, game room, covered outdoor patio, and park-like open spaces. Conveniently located near shopping, dining, and easy access to I-5.

Key facts

• Gated community
• New flooring
• New water heater

Tags

• GATED COMMUNITY
• NEW ROOF
• NEW WINDOWS
• NEW FLOORING
• NEW WATER HEATER
• NEW ELECTRICAL PANEL

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $90k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $81k (9.0% below list) — sets the bar for market timing.
• Cap rate 20.8% 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.
• Zoned schools: Lynnwood Elementary (559 students, 53% FRL); Alderwood Middle School (746 students, 57% FRL); Lynnwood High School (1,353 students, 49% FRL) — zoned schools average 53% FRL vs 28% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.4%/yr); 174 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 7d 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 $619 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 + 1.4% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 112 days — a 9% lower offer ($81k) is reasonable based on typical stale-listing flexibility.

Recommended offer $81,445 (9.0% below list)

Questions for the listing agent

1. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — 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: 2.41% ✓
• Cap rate: 20.84%
• Cash-on-cash: 51.95%
• DSCR: 3.31
• GRM: 3.5

CMA / ARV

• ARV (median comp): $91,976
• List price: $89,500
• Delta: -2.69%
• Verdict: FAIR
• Comps: 9 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18501 52nd Ave W #88	0.08mi	2/2.0	902 (-7%)	6mo	$129,800	$144	76
18501 52nd Ave W #54	0.00mi	2/2.0	1,096 (+13%)	0mo	$145,000	$132	74
18501 52nd Ave W #18	0.08mi	2/2.0	924 (-5%)	13mo	$125,897	$136	74
5220 176th St SW #4	0.45mi	2/1.5	1,040 (+7%)	1mo	$85,000	$82	64
18501 52nd Ave W #15	0.08mi	2/1.0	840 (-13%)	15mo	$111,000	$132	62
18501 52nd Ave W #41	0.08mi	2/1.0	840 (-13%)	16mo	$20,000	$24	61
18501 52nd Ave W #73	0.08mi	2/1.0	840 (-13%)	19mo	$110,000	$131	58
5220 176th St SW #27	0.45mi	2/1.0	840 (-13%)	7mo	$52,500	$63	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: 48.0%
• Equity multiple: 3.04×
• Total profit: $51,142
• Equity at exit: $13,345

10-year hold

• IRR: 53.0%
• Equity multiple: 5.78×
• Total profit: $119,815
• Equity at exit: $7,738

Cash invested: $25,060 (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: 174
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $2,156 high
• Mortgage (P&I): −$469
• Tax est. 1.5%: −$112 /mo · $1,342/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$453
• Net cashflow: $1,085

Break-even live

Break-even rent $783

Max offer price $89,500

Occupancy floor 45%

Sensitivity live

Price	-10% $1,147	-5% $1,116	+0% $1,085	+5% $1,054	+10% $1,023
Rent	-10% $914	-5% $1,000	+0% $1,085	+5% $1,170	+10% $1,255
Rate	-1.0pp $1,130	-0.5pp $1,108	base $1,085	+0.5pp $1,062	+1.0pp $1,038

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: $22,375
• Closing costs: $2,685
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18400 52nd Ave W Lynnwood, WA	2.0	1.0	1092	$1,995	$1.83	46d	1	0.10mi
18534 52nd Ave W Lynnwood, WA	2.0	2.0	1100	$2,295	$2.09	4d	1	0.18mi
5311 188th St SW Lynnwood, WA	2.0	1.5	1004	$2,500	$2.49	46d	1	0.27mi
5620 183rd St SW Lynnwood, WA	1.0–2.0	1.0	787	$2,075	$2.63	4d	2	0.38mi
5707 186th Pl SW Unit 4-PLEX 1 Lynnwood, WA	2.0	2.0	1000	$2,135	$2.13	26d	1	0.40mi
5624 183rd St SW Lynnwood, WA	1.0–2.0	1.0	787	$2,075	$2.63	1d	2	0.41mi
4816 176th St SW Lynnwood, WA	1.0–2.0	1.0–1.5	802	$1,970	$2.45	1d	6	0.48mi
4702 176th St SW Lynnwood, WA	1.0–2.0	1.0	886	$1,950	$2.20	1d	7	0.49mi
4502 176th St SW Unit 2 Lynnwood, WA	2.0	2.0	1004	$2,195	$2.19	46d	1	0.50mi
17828 44th Ave W Unit 2 Lynnwood, WA	2.0	2.0	750	$2,100	$2.80	46d	1	0.52mi
4432 176th St SW Unit 3 Lynnwood, WA	2.0	2.0	1004	$2,195	$2.19	46d	1	0.55mi
4432 176th St SW Unit 2 Lynnwood, WA	2.0	2.0	1004	$2,195	$2.19	26d	1	0.55mi
4428 176th St SW Unit 4 Lynnwood, WA	2.0	2.0	1004	$2,195	$2.19	26d	1	0.56mi
17422 52nd Ave W Lynnwood, WA	2.0	1.5	850	$1,960	$2.31	26d	1	0.58mi
4410 176th St SW Lynnwood, WA	1.0–2.0	1.0	770	$1,850	$2.40	7d	3	0.62mi
17529 44th Ave W Lynnwood, WA	2.0	1.0	1000	$2,395	$2.40	5d	1	0.68mi
5419 172nd Pl SW Lynnwood, WA	3.0	2.0	980	$2,895	$2.95	26d	1	0.76mi
17314 44th Ave W Unit C Lynnwood, WA	2.0	1.5	1000	$2,200	$2.20	20d	1	0.78mi
19801 50th Ave W Lynnwood, WA	1.0–2.0	1.0	825	$1,925	$2.33	7d	5	0.86mi
19800 50th Ave W Lynnwood, WA	1.0–2.0	1.0	791	$2,030	$2.56	1d	5	0.90mi
19309 40th Ave W Lynnwood, WA	2.0	1.0–1.5	707	$2,580	$3.65	46d	3	0.92mi
18124 36th Ave W Lynnwood, WA	1.0–2.0	1.0–2.0	821	$2,257	$2.75	1d	9	0.93mi
5618 198th St SW Unit 202 Lynnwood, WA	2.0	1.0	817	$1,750	$2.14	5d	1	0.96mi
18505 36th Ave W Lynnwood, WA	1.0–2.0	1.0–2.0	776	$2,356	$3.04	1d	7	0.99mi
18031 36th Ave W Lynnwood, WA	1.0–2.0	1.0–2.0	760	$2,186	$2.88	1d	6	0.99mi
4807 200th St SW Lynnwood, WA	2.0–3.0	1.0	935	$1,550	$1.66	1d	8	0.99mi
5720 198th St SW Lynnwood, WA	1.0	1.0	688	$1,525	$2.22	46d	1	1.00mi
19501 40th Ave W Lynnwood, WA	1.0–2.0	1.0	662	$2,346	$3.54	1d	26	1.00mi
4727 200th St SW Lynnwood, WA	1.0–2.0	1.0–1.5	875	$2,518	$2.88	1d	11	1.00mi
19900 56th Ave W Unit A33 Lynnwood, WA	1.0	1.0	675	$1,645	$2.44	17d	1	1.01mi
5725 200th St SW Lynnwood, WA	2.0	1.0	800	$2,000	$2.50	19d	1	1.05mi
19815 Scriber Lake Rd Lynnwood, WA	1.0	1.0	495	$1,634	$3.30	1d	11	1.05mi
4800 200th St SW Unit E201 Lynnwood, WA	2.0	2.0	971	$2,300	$2.37	7d	1	1.06mi
4001 198th St SW Lynnwood, WA	3.0	1.0–2.0	905	$3,115	$3.44	5d	242	1.08mi
4301 Alderwood Mall Blvd Lynnwood, WA	2.0	1.0	440	$2,100	$4.77	5d	14	1.09mi
16604 48th Ave W Lynnwood, WA	1.0–3.0	1.0–2.0	890	$2,162	$2.43	5d	9	1.11mi
19301 36th Ave W Lynnwood, WA	2.0	1.5	1080	$2,250	$2.08	26d	1	1.11mi
19301 36th Ave W Unit 37 Lynnwood, WA	2.0	1.5	1080	$2,250	$2.08	13d	1	1.13mi
5812 200th St SW Unit B Lynnwood, WA	2.0	2.0	942	$2,300	$2.44	46d	1	1.13mi
19888 40th Ave W Lynnwood, WA	1.0	1.0	572	$2,565	$4.48	1d	6	1.15mi

Listing history 16 events

1. 2026-06-21
   days on market $89,500 Active 112 DOM
2. 2026-06-18
   days on market $89,500 Active 109 DOM
3. 2026-06-17
   days on market $89,500 Active 108 DOM
4. 2026-06-16
   days on market $89,500 Active 107 DOM
5. 2026-06-15
   days on market $89,500 Active 106 DOM
6. 2026-06-13
   days on market $89,500 Active 104 DOM
7. 2026-06-13
   days on market $89,500 Active 103 DOM
8. 2026-06-09
   days on market $89,500 Active 100 DOM
9. 2026-06-08
   days on market $89,500 Active 99 DOM
10. 2026-06-07
    days on market $89,500 Active 98 DOM
11. 2026-06-04
    days on market $89,500 Active 95 DOM
12. 2026-06-03
    days on market $89,500 Active 94 DOM
13. 2026-06-02
    days on market $89,500 Active 93 DOM
14. 2026-06-01
    days on market $89,500 Active 92 DOM
15. 2026-05-31
    days on market $89,500 Active 91 DOM
16. 2026-02-25
    listed $89,500 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: $25,873
• − Mortgage interest: −$5,013
• − Property taxes: −$1,342
• − Insurance: −$448
• − Repairs & maintenance: −$2,070
• − Management: −$2,070
• − Depreciation: −$2,604
• Taxable income: $12,327
• Est. tax owed @ 24.0%: −$2,958
• After-tax cash flow: $10,059/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

1 event — show timeline

• 2026-02-25 Listed $89,500 NWMLS as Distributed by MLS Grid

Property tax history

-2.2%/yr

Latest (2026): $167 · +11.1% YoY. Source: county tax records.