5800 164th St SE · Silver Firs, WA 98296

$220,000

4 bd · 2.0 ba · 1,782 sqft · Manufactured public records · 13 Days on market

Built 1988 0.50 ac lot

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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 +7.5/15.0
• Schools +5.9/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Private setting in the desirable Clearview/ Snohomish area! This spacious 1,782 sq ft double-wide manufactured home offers a rare 4-bedroom + den floorplan with flexible living options. Surrounded by acreage properties, enjoy a peaceful, secluded feel while remaining conveniently close to town. Inside features vaulted ceilings, a bright living room, separate dining area, and versatile den—ideal for office, hobbies, or guest space. Dedicated laundry room adds convenience and storage. Kitchen includes skylight and stainless KitchenAid appliances. Recent updates provide peace of mind, including new roof (2025) with transferable 25-year warranty, new water heater (2026), updated PEX plumb

Key facts

• New water heater
• Private setting
• Skylight

Tags

• PRIVATE SETTING
• FLEXIBLE LIVING OPTIONS
• DEDICATED LAUNDRY ROOM
• SKYLIGHT
• NEW ROOF
• NEW WATER HEATER

Property features AI

Finance

• Other:
• Financial info: Listing terms: Cash
• HOA & community: Manufactured home park approved for sale; Pets allowed (see remarks); Land lease: $1,195

Exterior

• Parking:
• Security:
• Utilities: Electric energy source; Shared well water (water included in lease); Septic sewer; Snohomish County PUD power; Comcast internet
• Home design: Manufactured double wide (Fleetwood American Manor 4663L); One level; Very good condition; Mobile home remains
• Construction: Metal/vinyl and wood construction; Pillar/post/pier foundation with tie downs; Manufactured house
• Exterior features: Metal/vinyl and wood exterior; Awnings; Patio/porch/deck; Secluded lot on a dead-end street; Paved access; Has view

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove/Range
• Bedrooms: 4 bedrooms
• Flooring: Laminate; Vinyl; Carpet
• Bathrooms: 2 three-quarter bathrooms; 2 showers
• Heating & cooling: Forced air heating
• Interior features: Water heater; Skylights; Vaulted ceilings; Ceiling fan(s); Double pane windows; Patio/porch/deck; Bath off primary
• Laundry & utility: Washer; Dryer; Laundry room with electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $220k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $220k).
• Cap rate 15.6% vs local median 2.1% in Silver Firs — 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 78/100 on livability (#139 in WA, #2,758 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, commute A+, employment A+; Watch: 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.
• Market conditions: 222 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $2k of loan paydown is wiped out by about $7k 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 + 3.0% rent growth), your $62k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 6y 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 $160k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $220,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.86% ✓
• Cap rate: 15.63%
• Cash-on-cash: 33.34%
• DSCR: 2.48
• GRM: 4.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.6%
• Equity multiple: 2.19×
• Total profit: $73,416
• Equity at exit: $32,803

10-year hold

• IRR: 36.0%
• Equity multiple: 4.32×
• Total profit: $204,539
• Equity at exit: $19,022

Cash invested: $61,600 (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 98296

• Active inventory: 222
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $4,091 medium
• Mortgage (P&I): −$1,154
• Tax est. 1.5%: −$275 /mo · $3,300/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$859
• Net cashflow: $1,711

Break-even live

Break-even rent $1,925

Max offer price $220,000

Occupancy floor 53%

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17309 40th Ave SE Bothell, WA	3.0	2.5	2194	$3,950	$1.80	2d	1	1.24mi
17708 42nd Ave SE Bothell, WA	4.0	3.0	2487	$3,900	$1.57	2d	1	1.28mi
7531 148th Pl SE Snohomish, WA	4.0	2.5	2442	$4,500	$1.84	2d	1	1.50mi

Listing history 8 events

1. 2026-05-07
   status Pending
2. 2026-05-02
   status Active
3. 2026-05-01
   status Pending
4. 2026-04-23
   listed $220,000 Active
5. 2020-06-02
   soldstatus $160,000 Sold
6. 2020-05-26
   status Pending
7. 2020-05-18
   status Pending Inspection
8. 2020-05-07
   listed $169,500 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: $49,091
• − Mortgage interest: −$12,323
• − Property taxes: −$3,300
• − Insurance: −$1,100
• − Repairs & maintenance: −$3,927
• − Management: −$3,927
• − Depreciation: −$6,400
• Taxable income: $18,113
• Est. tax owed @ 24.0%: −$4,347
• After-tax cash flow: $16,190/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 — Silver Firs

• Score: 78/100
• State rank: #139
• US rank: #2758

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Silver Firs, WA
• Population (ZIP): 27,201

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: Predominantly White (79%)
• Race & ethnicity: White 79% Two or more races 9% Asian 8% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 6% Lithuanian 3% Italian 3%
• Foreign-born: 13% · Canada, China, Vietnam
• Languages at home: 85% English-only · Other Indo-European 3% Russian/Polish/Slavic 2% Spanish 2%

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: ▼ -915.99%
• Current HPI: 348.9725
• Rent YoY: —
• Metro: —
• 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

+29.8% since first listed

8 events — show timeline

• 2026-05-07 Pending — NWMLS as Distributed by MLS Grid
• 2026-05-02 Relisted — NWMLS as Distributed by MLS Grid
• 2026-05-01 Pending — NWMLS as Distributed by MLS Grid
• 2026-04-23 Listed $220,000 NWMLS as Distributed by MLS Grid
• 2020-06-02 Sold (MLS) $160,000 NWMLS as Distributed by MLS Grid
• 2020-05-26 Pending — NWMLS as Distributed by MLS Grid
• 2020-05-18 Pending — NWMLS as Distributed by MLS Grid
• 2020-05-07 Listed $169,500 NWMLS as Distributed by MLS Grid

Property tax history

-1.4%/yr

Latest (2026): $431 · -2.3% YoY. Source: county tax records.