206 N Kentucky Ave Unit 3B · Granite Falls, WA 98252

$79,000

2 bd · 2.0 ba · 1,008 sqft · Manufactured public records · 50 Days on market

Built 1978 3,267 sqft lot $78/sqft · 83% below area ↓ 21% since listing

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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
• Livability +4.0/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Well maintained 2-bedroom, 2- bath 1978 single-wide manufactured home located in desirable Pilchuck Park. Offering 1,008 sq ft of finished living space, this home features newer flooring and a new hot water tank. All appliances are included for added convenience. The property also includes a newer shed with loft storage, power, and air compressor hookup- perfect for hobbies or extra storage needs. Situated on a corner lot in a walk able location close to schools, shopping, bus lines, and medical facilities. Pets are welcome. Located in a 55+ community with park management pre screening required. Monthly space rent is $625 and includes water, sewer & garbage.

Key facts

• New hot water tank
• Newer shed
• New flooring

Tags

• NEW FLOORING
• NEW HOT WATER TANK
• NEWER SHED
• LOFT STORAGE
• CORNER LOT
• WALKABLE LOCATION

Property features AI

Finance

• Other: Senior exemption available
• Financial info: Listing terms: Cash; Land lease amount applies
• HOA & community: Located in Pilchuck Park (senior community); Park has about 24 homes; Pets allowed; Land lease required

Exterior

• Parking: Uncovered parking; RV parking available in park
• Utilities: Electric power; Public water (City of Granite Falls); Public sewer (City of Granite Falls); Water heater is electric; Cable: Xfinity; Internet: Xfinity; Power provided by PUD
• Home design: Manufactured single wide home; One story
• Construction: Metal/vinyl construction materials; Metal roof; Mobile home remains on site; Built in manufactured-home style (single wide)
• Exterior features: Metal/vinyl exterior; Corner lot; Located on a cul-de-sac / dead end street; View

Interior

• Kitchen: Microwave; Refrigerator; Stove/Range
• Bedrooms: 2 bedrooms
• Flooring: Laminate; Carpet
• Bathrooms: 2 full bathrooms (includes 2 bathtubs and 2 showers); Bath off primary bedroom
• Heating & cooling: Forced air heating; No central air
• Interior features: Water heater (located on exterior of home); Ceiling fan(s); Double pane windows; Awnings; Patio/porch/deck
• Laundry & utility: Washer; Dryer; Utility room; Laundry available in park

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $79k.

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 $79k).
• Recommended offer: $77k (3.0% below list) — sets the bar for market timing.
• Cap rate 22.8% vs local median 3.1% in Granite Falls — 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 81/100 on livability (#76 in WA, #1,381 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A+, crime A; Watch: cost of living D, amenities F.
• Granite Falls School District (town): math 25% / reading 45% proficiency, ranked #232 of 291 in WA (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mountain Way Elementary (563 students, 46% FRL); Granite Falls Middle School (489 students, 47% FRL); Granite Falls High School (546 students, 40% FRL).
• Market conditions: 99 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 12d 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 $546 of loan paydown is wiped out by about $2k 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 $22k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($77k) is reasonable based on typical stale-listing flexibility.

Recommended offer $76,630 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 2.62% ✓
• Cap rate: 22.84%
• Cash-on-cash: 59.09%
• DSCR: 3.63
• GRM: 3.2

CMA / ARV

• ARV (median comp): $455,910
• List price: $79,000
• Delta: -82.67%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 57.7%
• Equity multiple: 3.56×
• Total profit: $56,599
• Equity at exit: $11,779

10-year hold

• IRR: 62.6%
• Equity multiple: 7.27×
• Total profit: $138,736
• Equity at exit: $6,830

Cash invested: $22,120 (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 98252

• Active inventory: 99
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $2,070 high
• Mortgage (P&I): −$414
• Tax est. 1.5%: −$99 /mo · $1,185/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$435
• Net cashflow: $1,089

Break-even live

Break-even rent $691

Max offer price $79,000

Occupancy floor 42%

Sensitivity live

Price	-10% $1,144	-5% $1,116	+0% $1,089	+5% $1,062	+10% $1,035
Rent	-10% $926	-5% $1,007	+0% $1,089	+5% $1,171	+10% $1,253
Rate	-1.0pp $1,129	-0.5pp $1,109	base $1,089	+0.5pp $1,069	+1.0pp $1,048

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
405 N Granite Ave Unit 405 1/2-D Granite Falls, WA	2.0	1.0	1000	$1,250	$1.25	45d	1	0.11mi
101 Paradise Pkwy Granite Falls, WA	3.0	2.0	1200	$3,100	$2.58	0d	1	0.23mi
10008 Mountain Loop Hwy Granite Falls, WA	1.0–2.0	1.0	877	$1,860	$2.12	45d	1	0.26mi
609 N Granite Ave Granite Falls, WA	3.0	2.0	1176	$2,700	$2.30	11d	1	0.28mi
10114 Mountain Loop Hwy Unit 32/31 Granite Falls, WA	2.0	2.0	1047	$1,650	$1.58	0d	1	0.29mi
408 Saratoga St Granite Falls, WA	3.0	2.0	1339	$3,000	$2.24	45d	1	0.39mi
408 Saratoga St Granite Falls, WA	3.0	2.0	1339	$2,700	$2.02	0d	1	0.39mi
18102 100th St NE Granite Falls, WA	2.0	2.0	1296	$2,350	$1.81	21d	1	0.96mi
323 Penny Ave Granite Falls, WA	3.0	2.5	1401	$2,895	$2.07	0d	1	0.99mi

Listing history 17 events

1. 2026-06-21
   days on market $79,000 Active 50 DOM
2. 2026-06-18
   days on market $79,000 Active 47 DOM
3. 2026-06-17
   days on market $79,000 Active 46 DOM
4. 2026-06-16
   days on market $79,000 Active 45 DOM
5. 2026-06-15
   days on market $79,000 Active 44 DOM
6. 2026-06-13
   days on market $79,000 Active 42 DOM
7. 2026-06-13
   days on market $79,000 Active 41 DOM
8. 2026-06-09
   days on market $79,000 Active 38 DOM
9. 2026-06-08
   days on market $79,000 Active 37 DOM
10. 2026-06-07
    days on market $79,000 Active 36 DOM
11. 2026-06-04
    days on market $79,000 Active 33 DOM
12. 2026-06-03
    days on market $79,000 Active 32 DOM
13. 2026-06-02
    days on market $79,000 Active 31 DOM
14. 2026-06-01
    days on market $79,000 Active 30 DOM
15. 2026-05-31
    days on market $79,000 Active 29 DOM
16. 2026-05-11
    price $89,000
17. 2026-05-02
    listed $100,000 Active

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 8 d/yr ≥86°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 8 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,837
• − Mortgage interest: −$4,425
• − Property taxes: −$1,185
• − Insurance: −$395
• − Repairs & maintenance: −$1,987
• − Management: −$1,987
• − Depreciation: −$2,298
• Taxable income: $12,560
• Est. tax owed @ 24.0%: −$3,014
• After-tax cash flow: $10,056/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: Granite Falls School District
• NCES district ID: 5303210
• Math proficiency: 25% ▼ -7.00%
• Reading proficiency: 45% ▼ -5.00%
• Median HH income: $69,578
• Composite: 34.81/100
• National rank: #10018
• State rank: #232 of 291 in WA

Livability — Granite Falls

• Score: 81/100
• State rank: #76
• US rank: #1381

Category grades

Amenities F Commute B+ Cost of living D 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: Granite Falls, WA
• Population (ZIP): 10,487

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 (82%)
• Race & ethnicity: White 82% Two or more races 8% Hispanic / Latino 7% Asian 5%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 9% Slovak 3% Lithuanian 2%
• Foreign-born: 5% · Canada, Dominican Republic, China
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 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: ▼ -270.47%
• Current HPI: 300.5366
• 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

-21.0% since first listed

3 events — show timeline

• 2026-05-26 Price Changed $79,000 NWMLS as Distributed by MLS Grid
• 2026-05-11 Price Changed $89,000 NWMLS as Distributed by MLS Grid
• 2026-05-02 Listed $100,000 NWMLS as Distributed by MLS Grid

Property tax history

+0.0%/yr

Latest (2026): $98 · -12.5% YoY. Source: county tax records.