As of this morning the average duplex in Snohomish County is priced at $383,457 and has been on the market 177 days.  That is a long time to be sitting!  On the low end are the Everett fixer duplex properties, the cheapest is a meager $185,000.  On the other end of the scare are the overpriced new or nearly new duplex properties topping out at around $730,000.  I see no way those are going to cash flow with any reasonable sort of down payment.

In contrast, the sold listings tell the story of what duplex properties investors are actually buying.  In the last 3 months a mere 12 Snohomish county duplex properties have sold.  When it comes to what they are selling for, the average duplex sale price is $327,879, and none of those were over $480,000. 

Looking at these numbers, I just wonder how many owners are bleeding, sitting on duplex properties that do not have positive cash flow.  Personally if I were wanting to start investing in small multifamily properties, I would make sure that I had my financing in order, a solid down payment, and then start making offers on some of these properties that are close to being priced right, but have been on the market too long. 

If you are ready to buy or sell a duplex in Snohomish or Northern King County give me a call at 425-773-3149.  I would like to sit down and discuss the market conditions and how they relate your needs and situation!

Everett Multi-Family Property Statistics

The sold figures for 3-5 unit multi-family properties in Everett were skewed slightly by the fact that there have only been 2 sold in the past 90 days, one of which was a tri-plex that closed at $199,900.  I suspect that it needed some work.  Listings that say ‘Needs TLC’ and ‘Buyer to waive form 17′ are usually in pretty rough shape or there are serious worries. 

Lynnwood Multi-Family Property Statistics

Prices in Lynnwood for duplex and multi-family properties is higher as you can see, with the age and condition of several of the Everett properties pulling the prices down.  One other thing to note is that there are 42 active duplex properties in Everett, and only 8 currently on the market in Lynnwood.

What I am seeing is that for investors with backing, there are some good deals to be made.  The one duplex sale that did happen in the last 90 days was only on the market 19 days and dropped from an initial price of $425,000 to a final selling price of $370,000.  At that price it most likely won’t break even if it is financed, unless of course there was a sizeable down payment.

If you are shopping in this area for a duplex or small multi-family property, my suggestion is to have your financing ready, and make some offers!  The market isn’t moving very fast, which means sellers need to compete if they want to sell.

When you are ready to get out there and start making some offers, give me a call at 425-773-3149 or send me an email at Jacquie@JacquieCliff.com and I will try not to have too good of a time beating up the sellers (proverbially) for you.  Of course if you are looking in areas other than Lynnwood and Everett for multi-family investments, I can take care of you there as well.  If you need and example, just check out my road trip to Aberdeen to look at a bunch of multi-family properties (which had positive cash flow!)

Lowest Priced Lynnwood Duplex: $359,900
Average Priced Lynnwood Duplex: $492,327
Highest Priced Lynnwood Duplex: $619,950

Average Time on the Market: 116 days

Since the beginning of 2008, 6 Lynnwood duplexes have sold with an average selling price of $435,667.

If you are interested in investing in duplex properties in Lynnwood Washington, please give me, Jacquie Cliff at 425-773-3149 or send an email with any questions or what you are looking for to Jacquie@jacquiecliff.com

Jacquie Cliff – The Amazon Negotiator
Real Estate Agent, Loan Officer and Real Estate Investor serving:
Lynnwood, Bothell, Mill Creek, Seattle, Bellevue, Marysville, Mountlake Terrace, Edmonds, Everett, Snohomish, Kirkland and the surrounding areas!

Call me with any of your real estate questions at 425-773-3149 or email me at Jacquie@jacquiecliff.com anytime!

Copyright © 2008 By Jacqueline A. Cliff, All Rights Reserved.
Lynnwood Washington Duplex Properties