Anyone Have Experience in Marysville?

Question

I'm looking at a duplex in Marysville and the agent says it should rent for $2000/month (2 bed, 1 bat, 1100 sqft, 2 stories, clean and a little outdated but I would be updating the property). I've tried to verify these numbers but there doesn't seem to be many 2 bed rental homes in the area to compare. $2,000 seems a bit low to me for a large 2 bed unit with a big yard, especially since the rentals where I'm currently living in Orting go for $2200. Does anyone have experience with long term rentals in this area?

Daniel Nobile · Answer

Hey Kirsten, Ive worked with a few clients in the Marysville area & 2000$ a month sounds pretty accurate for a larger 2 bed duplex with a yard. Based off some comps for 2 bed rents in Marysville average rents are around 1790$ a month.

Eric Turner · Answer

I saw an updated 1288 sqft rambler duplex rent for $1575.

Inventory is slim, but not absent for 2 bedrooms. I think $2k is a stretch. $1600-$1800 is probably a more reasonable expectation. Just my $.02.

Sam Denny · Answer

@Eric Jun Yuen  There are multiple factors for the appreciation up north including lack of housing supply and people wanting to leave urban Seattle but still stay in state.  Here is a link to an article about the amazon distribution center.  $355 million investment and 1000 new jobs.

https://www.heraldnet.com/busi...

Ted Klein · Answer

@Kirsten Crotts I currently have property in Marysville and the $1600 - $1800 range is accurate. We have excellent tenants who take care of the place and have always paid on time or even early. As @John Barrett said crime and homelessness issues will vary from street to street. There are definitely some rough spots of town, going east and north would be your best bets.

The city of Marysville has taken a different approach to the homelessness issue in that the homeless are given an opportunity to accept assistance, if they refuse, then they can be arrested. It seems to be a win win in that the homeless are being given help and the city has less problems with it. As a quote from a local website states: "We offer significant and meaningful help to those who commit transient-related crimes and impose legal consequences for those who choose not to accept that help."

Not sure what part of town that @Eric Turner was referring to, but we have had nothing but a good experience in Marysville. @Kirsten Crotts if you want to PM me, I can give you more details :)

Sam Denny · Answer

I would agree with the range of 1600-1800 for a large 2 bedroom.  I have quite a few two bedrooms units in Mount vernon and rent ranges from 1400-1750 for new available units depending on how nice/big the units are.  I think Marysville is a little more expensive but not much.  I tend to agree Marysville is a little rough but there are nicer parts.  Have you looked a little further north in Arlington, Stanwood, Mt vernon, Burlington and Sedro Woolley?  Rental demand is high in all those areas.  The new Amazon distribution center going into Arlington has really driven demand for rental properties in Arlington.

Chelsea Shapiro · Answer

I have a few clients in Marysville with small MF properties.  Based on what I've seen of their operating summaries $1,800-$2,000 for a 2 bedroom seems to be the range as of late.

Eric Jun Yuen · Answer

@Sam Denny interesting to hear that the distribution center has made such a big impact. Is this something you can elaborate on/has other noticed this as well?

Sherief Elbassuoni · Answer

@Kirsten Crotts, I do business in Marysville. Have you tried putting the address of this property on Rentometer and see what are the numbers. We can give you a range, but to get a more accurate number there are different tools, and rentometer is one of them. You can also contact a local property manager to ask him/her about rent prices in this specific neiborhood

John Barrett · Answer

@Kirsten Crotts We invest in Marysville and $2k a month would be on the high end of what a unit with those specifications would go for.  If the unit is fully updated and comes with a garage or covered parking, you would have a better chance of getting your desired rent.  Currently the market is very hot for all types of properties and demand for the rentals is still quite high but I think at that price your unit would take longer to get rented out.  I agree with @Eric Turner's assessment that your rental range is $1,600 - $1,850.

Marysville is a lot like any other city at the moment, it really depends on where the property you are looking at is located in the city that will determine your experience with crime and homelessness issues.  Your experience and that of your tenants can be very different street to street.

John

Kirsten Crotts · Answer

@Eric Turner wow that's really good to know. I've been in Seattle for the last 8 years minus this house hack in Orting so I'm still learning about the idiosyncrasies of the different suburbs in the area. I'm definitely looking for a low crime spot so if that's true I'll make sure and stay away from that area.

Anyone Have Experience in Marysville?

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