Seller's Agent in 2021
Kelsi Dockins
COMPASS
(509) 750-4016
2 in this area
68 Total Sales
Listed by COMPASS, Bought with CENTURY 21 North Homes Realty
5216 188th St SW Lynnwood, WA 98037
Maple Leaf NeighborhoodEstimated Value: $1,165,000 - $1,393,000
--
Bed
4
Baths
3,968
Sq Ft
$321/Sq Ft
Est. Value
Highlights
- Waterfront
- Territorial View
- Wood Siding
- Deck
- Patio
- Wall to Wall Carpet
About This Home
As of April 2021Town House style 4-plex ready to be added to your portfolio. Amazing location near Lynnwood's future light rail station, I-5 and 405. Surrounded by beautiful landscaping, these 2 bed/1 bath units all boast balconies, patios and 2 parking spots each. This investment has the potential to earn an impressive ROI. Already cash flowing and fully rented, this property allows new buyer to capture rent increases and implement utility reimbursements as soon as you close. Current rents $1,000-$1,250. Estimated Rent $1,650. Cap Rate with rent increases is 5.5%. Also for sale 5226 188th Street SW. Buy one or both! Perfect cash flowing asset for the savvy or newbie investor.
Source: Northwest Multiple Listing Service (NWMLS)
MLS#: 1748124
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $6,886
Year Built
- Built in 1968
Lot Details
- 0.3 Acre Lot
- Waterfront
- Property is in average condition
Home Design
- Quadruplex
- Flat Roof Shape
- Block Foundation
- Wood Siding
- Vinyl Construction Material
- Wood Composite
Interior Spaces
- 3,968 Sq Ft Home
- 2-Story Property
- Territorial Views
Flooring
- Wall to Wall Carpet
- Laminate
Parking
- 8 Parking Spaces
- Open Parking
Outdoor Features
- Deck
- Patio
Community Details
- Alderwood Manor Subdivision
Listing and Financial Details
- Assessor Parcel Number 00377900000800
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Mar 26, 2021
Closed on
Apr 28, 2021
Sold by
Mad Rentals Llc
Bought by
Ghebreyesus Mussie and Ogbagebriel Tinsae
Seller's Agent
Kelsi Dockins
COMPASS
Buyer's Agent
Dawit Tensae
CENTURY 21 North Homes Realty
List Price
$999,999
Sold Price
$1,015,000
Premium/Discount to List
$15,001
1.5%
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$197,679
Avg. Annual Appreciation
4.29%
Original Mortgage
$761,250
Outstanding Balance
$696,186
Interest Rate
3%
Mortgage Type
New Conventional
Estimated Equity
$519,623
Purchase Details
Listed on
Mar 26, 2021
Closed on
Mar 17, 2021
Sold by
Frost Douglas F and Frost Barbara
Bought by
Mad Rentals Llc
Seller's Agent
Kelsi Dockins
COMPASS
Buyer's Agent
Dawit Tensae
CENTURY 21 North Homes Realty
List Price
$999,999
Sold Price
$1,015,000
Premium/Discount to List
$15,001
1.5%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$761,250
Outstanding Balance
$696,186
Interest Rate
3%
Mortgage Type
New Conventional
Estimated Equity
$519,623
Purchase Details
Closed on
Jul 20, 1994
Sold by
Frost Douglas F and Frost Barbara J
Bought by
The Douglas & Barbara Frost Family Trust
Create a Home Valuation Report for This Property
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Ghebreyesus Mussie | $1,015,000 | None Available | |
| Mad Rentals Llc | $733,334 | None Available | |
| The Douglas & Barbara Frost Family Trust | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Ghebreyesus Mussie | $761,250 | |
| Closed | Mad Rentals Llc | $674,194 | |
| Previous Owner | Frost Douglas F | $131,500 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 04/29/2021 04/29/21 | Sold | $1,015,000 | +1.5% | $256 / Sq Ft |
| 03/30/2021 03/30/21 | Pending | -- | -- | -- |
| 03/26/2021 03/26/21 | For Sale | $999,999 | -- | $252 / Sq Ft |
Source: Northwest Multiple Listing Service (NWMLS)
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $7,705 | $993,000 | $503,500 | $489,500 |
| 2024 | $7,705 | $993,800 | $483,000 | $510,800 |
| 2023 | $6,783 | $907,900 | $452,500 | $455,400 |
| 2022 | $7,424 | $816,000 | $335,000 | $481,000 |
| 2020 | $6,886 | $670,000 | $262,500 | $407,500 |
| 2019 | $6,476 | $632,500 | $227,000 | $405,500 |
| 2018 | $6,347 | $550,000 | $189,000 | $361,000 |
| 2017 | $5,185 | $490,000 | $189,000 | $301,000 |
| 2016 | $4,592 | $434,500 | $141,500 | $293,000 |
| 2015 | $4,608 | $410,000 | $137,500 | $272,500 |
| 2013 | $4,621 | $390,000 | $137,500 | $252,500 |
Source: Public Records
Agents Affiliated with this Home
-
-
Buyer's Agent in 2021
Dawit Tensae
CENTURY 21 North Homes Realty
(206) 375-9662
1 in this area
50 Total Sales
Map
Source: Northwest Multiple Listing Service (NWMLS)
MLS Number: 1748124
APN: 003779-000-008-00
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Listing information is provided by the Northwest Multiple Listing Service (NWMLS). Property information is based on available data that may include MLS information, county records, and other sources. Listings marked with the 3 tree icon and provided by NWMLS. All properties are subject to prior sale or withdrawal. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID. ©2025 NWMLS.
Based on information submitted to the MLS GRID
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