6206 188th St NE #68 · Arlington, WA 98223

$125,000

1 bd · 1.0 ba · 920 sqft · Manufactured public records · 12 Days on market

Built 1976

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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
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• Livability +4.0/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Tucked away in a quiet, low-density 55+ community in Arlington, this beautifully remodeled double-wide offers 2 bedrooms and 1.75 baths with comfort and convenience in mind. Thoughtfully updated throughout, you’ll find a brand-new kitchen with granite countertops, new appliances, and refreshed bathroom vanities—all tied together with a bright, open-concept layout. The home features new LVP flooring in the main living areas, plush new carpet in the bedrooms, fresh interior and exterior paint, a durable metal roof, and a recently serviced furnace—this is not a quick flip, but a home upgraded with care. Set in a quiet, cozy location, this home features a large, partially fenc

Key facts

• New appliances
• Brand-new kitchen
• Granite countertops

Tags

• REMODELED DOUBLE-WIDE
• BRAND-NEW KITCHEN
• GRANITE COUNTERTOPS
• NEW APPLIANCES
• REFRESHED BATHROOM VANITIES
• OPEN-CONCEPT LAYOUT

Property features AI

Finance

• Other: Buyer brokerage compensation 2.5%
• Financial info: Land lease amount $768; Listing terms: Cash
• HOA & community: Located in Airways MH Park; Park approved for sale; Common area; Senior community; Cats OK, Dogs OK; Land lease

Exterior

• Parking: Carport
• Utilities: Public water (paid by park); Public sewer (paid by park); PUD electric; Electric water heater
• Home design: Manufactured double-wide home; One level; Double wide body type; Model 44/24; Mobile home remains in place; Has view
• Construction: Wood construction; Metal roof; Wood skirt; Pillar/post/pier foundation with tie downs; Manufactured house structure
• Exterior features: Wood exterior; Paved lot

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove/Range
• Bedrooms: 2 bedrooms
• Flooring: Vinyl plank; Carpet
• Bathrooms: 1 full bath; 1 three-quarter bath; 1 bathtub; 2 showers
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Water heater; Kitchen with eating space; Living room; Utility room; Awnings; Patio/porch/deck; Landscaped
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $546 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Cap rate 11.5% vs local median 2.5% in Arlington — 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 80/100 on livability (#96 in WA, #1,873 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, health & safety A+; Watch: crime D+, cost of living F.
• Arlington School District (suburban): math 50% / reading 66% proficiency, ranked #58 of 291 in WA (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Pioneer Elementary (493 students, 35% FRL); Haller Middle School (589 students, 38% FRL); Arlington High School (1,661 students, 36% FRL).
• Market conditions: Rents rising fast (+4.8%/yr); 287 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 1d 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 $864 of loan paydown is wiped out by about $4k 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 + 4.8% rent growth), your $35k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 12y 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 $18k; list at $125k implies a 594% gain — meaningful room to come down on a strong offer.

Recommended offer $125,000

Questions for the listing agent

1. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-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?
4. Crime grade is D 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?
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: 1.43% ✓
• Cap rate: 11.53%
• Cash-on-cash: 18.72%
• DSCR: 1.83
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $72,680
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6206 188th St NE #11	0.00mi	2/1.0 (+1)	924 (+0%)	2mo	$45,000	$49	93
6206 188th St NE #68	0.00mi	2/2.0 (+1)	920 (0%)	1mo	$125,000	$136	90
6206 188th St NE #26	0.00mi	2/2.0 (+1)	924 (+0%)	3mo	$64,698	$70	88
6206 188th St NE #59	0.00mi	2/1.5 (+1)	960 (+4%)	8mo	$76,000	$79	79
6206 188th St #63	0.00mi	2/2.0 (+1)	1,008 (+10%)	7mo	$80,400	$80	69
6206 188th Ave NE #6	0.00mi	2/1.0 (+1)	1,008 (+10%)	21mo	$51,000	$51	62

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 · 4.77% rent growth · sell at horizon

5-year hold

• IRR: 12.5%
• Equity multiple: 1.51×
• Total profit: $17,778
• Equity at exit: $18,638

10-year hold

• IRR: 22.8%
• Equity multiple: 3.12×
• Total profit: $74,126
• Equity at exit: $10,808

Cash invested: $35,000 (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 98223

• Rents YoY: 4.8%
• Active inventory: 287
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,785 high
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $546

Break-even live

Break-even rent $1,093

Max offer price $125,000

Occupancy floor 64%

Sensitivity live

Price	-10% $632	-5% $589	+0% $546	+5% $503	+10% $460
Rent	-10% $405	-5% $475	+0% $546	+5% $616	+10% $687
Rate	-1.0pp $609	-0.5pp $578	base $546	+0.5pp $514	+1.0pp $481

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18725 67th Ave NE Arlington, WA	1.0–2.0	1.0–2.0	667	$1,795	$2.69	0d	3	0.33mi
19920 67th Ave NE #52 Arlington, WA	2.0	1.0	800	$1,485	$1.86	6d	1	0.84mi
17327 67th Ave NE Arlington, WA	2.0	1.0–2.5	900	$1,918	$2.13	0d	7	0.91mi
6605 204th St NE Arlington, WA	1.0	1.0	578	$1,700	$2.94	0d	2	1.15mi
20310 74th Ave NE Arlington, WA	3.0	1.0–2.0	819	$1,937	$2.36	0d	17	1.28mi
7980 200th St NE Arlington, WA	2.0	1.5–2.0	958	$2,188	$2.28	0d	6	1.31mi
20227 77th Ave NE Arlington, WA	1.0–2.0	1.0–2.0	805	$1,675	$2.08	0d	6	1.37mi
4906 Longhouse Trail Ln NE Arlington, WA	2.0	1.0–2.0	687	$1,874	$2.73	0d	9	1.47mi

Listing history 13 events

1. 2026-05-14
   status Pending
2. 2026-05-01
   listed $125,000 Active
3. 2025-01-15
   soldstatus $18,000 Closed
4. 2025-01-07
   status Pending
5. 2025-01-03
   price $26,500
6. 2024-11-07
   status Active
7. 2024-10-28
   status Pending
8. 2024-10-21
   status Active
9. 2024-10-04
   status Pending
10. 2024-09-03
    listed $29,500 Active
11. 2014-09-30
    soldstatus $7,000 Sold
12. 2014-09-08
    status Pending
13. 2014-08-12
    listed $8,500 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: $21,415
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$1,713
• − Management: −$1,713
• − Depreciation: −$3,636
• Taxable income: $4,850
• Est. tax owed @ 24.0%: −$1,164
• After-tax cash flow: $5,388/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: Arlington School District
• NCES district ID: 5300240
• Math proficiency: 50% ▼ -1.00%
• Reading proficiency: 66% ▲ 1.00%
• Median HH income: $73,341
• Composite: 53.31/100
• National rank: #3184
• State rank: #58 of 291 in WA

Livability — Arlington

• Score: 80/100
• State rank: #96
• US rank: #1873

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Arlington, WA
• County: Snohomish County · 786,756 people
• City population: 46,497
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 46,497
• Household income: $99,681
• Rent vs Own: 22.4% rent · 77.6% own
• Severe rent burden: 1068.0

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: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 10% Two or more races 10% Asian 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Portuguese 9% Lithuanian 3% Slovak 3%
• Foreign-born: 7% · Canada, Vietnam
• Languages at home: 90% English-only · Spanish 5% Tagalog/Filipino 1% Russian/Polish/Slavic 1%

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: ▼ -527.84%
• Current HPI: 314.8582
• Rent YoY: ▲ 4.77%
• 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

+1370.6% since first listed

13 events — show timeline

• 2026-05-14 Pending — NWMLS as Distributed by MLS Grid
• 2026-05-01 Listed $125,000 NWMLS as Distributed by MLS Grid
• 2025-01-15 Sold (MLS) $18,000 NWMLS as Distributed by MLS Grid
• 2025-01-07 Pending — NWMLS as Distributed by MLS Grid
• 2025-01-03 Price Changed $26,500 NWMLS as Distributed by MLS Grid
• 2024-11-07 Relisted — NWMLS as Distributed by MLS Grid
• 2024-10-28 Pending — NWMLS as Distributed by MLS Grid
• 2024-10-21 Relisted — NWMLS as Distributed by MLS Grid
• 2024-10-04 Pending — NWMLS as Distributed by MLS Grid
• 2024-09-03 Listed $29,500 NWMLS as Distributed by MLS Grid
• 2014-09-30 Sold (MLS) $7,000 NWMLS as Distributed by MLS Grid
• 2014-09-08 Pending — NWMLS as Distributed by MLS Grid
• 2014-08-12 Listed $8,500 NWMLS as Distributed by MLS Grid

Property tax history

+3.9%/yr

Latest (2026): $179 · +28.7% YoY. Source: county tax records.