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Listed by Tom Cowan • Windermere Real Estate Co..
FOR SALE

$969,000

Est. $5,367/mo

3,248 sq ft

15328 40th Avenue W, Lynnwood, WA 98087

• Listed Sep 8, 2026•210 days active · 210 cumulative

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★★★★★5.0·1,242 Google reviews

Listing Broker: Windermere Real Estate Co.; Tom Cowan; 206-707-2585; tomcowan@windermere.com

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Listing Broker: Windermere Real Estate Co.; Tom Cowan; 206-707-2585; tomcowan@windermere.com

About this home

Brand-new roof installed in August 2026! Attractive 4-plex ideally located near Hwy 99, I-5, & 405. Enjoy a desirable unit mix of 3 - 2 bed, 1 bath units and 1 - 1 bed, 1 bath unit. Recent upgrades to units 2-4 include newer flooring, newer interior paint, and partial cabinet (newer in unit 4, refreshed in units 2 & 3 with newer paint and hardware), countertop, trim, & light fixture upgrades, as well as many updated appliances. Upper units have a small deck and the lower units are adjacent to a small yard. 8 parking spaces (2 per unit!). Common laundry provides additional income potential. A flexible asset with the ability to immediately owner-occupy or use as a long-term hold with good cashflow + additional upside potential through operational improvements.

Property type
Single Family
Year built
1966
Interior
3,248 sq ft
Lot size
0.22 acres
Parking
None
Price / sq ft
$298
HeatingBaseboard
CoolingNone
Property taxes$7,916/yr (est.)
School districtEdmonds

Listed by Tom Cowan • Windermere Real Estate Co.

Listing updated: September 24, 2026 at 06:13pm

RexMont checked: moments ago

Source: NWMLS as Distributed by MLS Grid #2575395

Around this home

RexMont OfferEdge™

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15328 40th Avenue W, Lynnwood, WA 98087

List price
$969,000
Down payment
$193,800

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Source:RexMont analysis of Northwest MLS sales data for this ZIP code plus third-party market data (RentCast). The estimates are RexMont's, not Northwest MLS listing data.

Estimates only and not guaranteed. Consult a RexMont agent for accurate, personalized guidance before making an offer. RexMont OfferEdge™ · © 2026 RexMont Real Estate. Proprietary tool.

Property details

Layout

  • 4-Plex

Flooring

  • Vinyl
  • Vinyl Plank
  • Carpet

Heating & cooling

  • Baseboard heating
  • None cooling

Schools

Ratings via SchoolDigger

Schools shown are the nearest public Elementary, Middle, and High school for this property and may not be the assigned schools. Verify attendance boundaries with the district before purchasing.

Multi-family facts

As entered by the listing broker on Northwest MLS

Units

Total units
4
Units in building
4
Units below grade
true
Building square feet
3,248 sq ft

Income & expenses

Gross scheduled income
$79,044
Total monthly income
$6,587
Additional monthly income
$117
Gross adjusted income
$75,092
Net operating income
$50,000
Cap rate
5.16%
Gross rent multiplier
12.26
Vacancy rate
5%
Total expenses
$25,092
Insurance
$1,527
Electric
$1,283
Other expenses
$9,293
Water / sewer / garbage paid by
5073

Parking & storage

Parking spaces
8
Uncovered parking
8

Taxes & assessment

Annual taxes
$7,916
Tax year
2026
Financing
Cash, Conventional

Neighborhood mobility

Doorstep, Pedal & Station Scores

Three RexMont scores for this exact address: what is on foot, what is by bike, and what rides past the door.

Ground Truth™

The ground, the slope, the flood zone and the noise at this address

Read from public hazard, flood, terrain and noise maps for this exact home.

Address Insider™

The members' report

Commute, transit, zoning and ADU potential, internet providers and the lifestyle around the home: the nearest grocery, coffee, park, services and transit stop. One free registration opens every home on rexmont.com.

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Sales & Tax Records for 15328 40th Avenue W

NWMLS via MLS Grid · Snohomish County Assessor

Every listing, pending, price change and closing filed on this home with the NWMLS, the county’s recorded sales, and its assessed values by tax year.

  1. Sep 8, 2026
    Listed
    NWMLS via MLS Grid · #2575395
    $969,000
    $298/sq ft
  2. Dec 24, 2020
    Sold
    NWMLS via MLS Grid · #1680763
    $863,000
    $266/sq ft
  3. Nov 9, 2020
    Pending
    NWMLS via MLS Grid · #1680763
    $899,950
    $277/sq ft
  4. Oct 21, 2020
    Listed
    NWMLS via MLS Grid · #1680763
    $899,950
    $277/sq ft

Down payment assistance

6 programs may be available to provide you with up to $55,000 in down payment assistance, depending on your specific information.

Check eligibility

Source: program list compiled by RexMont from ARCH (A Regional Coalition for Housing) member-jurisdiction information. This is not Northwest MLS listing data.

Mortgage payment forecast

$6,269 per month

Great rate
Principal and interest
Property taxes
HOA dues
Home insurance

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Plan your offer with a RexMont buyer specialistWalk through escalation strategy, contingencies, and competing-offer risk in this neighborhoodCompare loan options30-yr fixed, 15-yr, FHA, VA, jumbo

Source: RexMont estimate, not Northwest MLS listing data. Interest rates from Freddie Mac's Primary Mortgage Market Survey via FRED (Federal Reserve Bank of St. Louis). Property tax and HOA dues from the NWMLS listing where provided, otherwise estimated; insurance estimated at 0.3% of price per year.

Estimate only. Actual payment depends on credit, lender, and program. PMI not included for down payments below 20%.

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Listing Broker: Windermere Real Estate Co.; Tom Cowan; 206-707-2585; tomcowan@windermere.com

Market pulse

Lynnwood is a seller's market.

Inventory is low and competition is high. Sellers have more negotiating power.

Buyer's marketSeller's market

  • Offer insight: Well-priced homes draw multiple offers; others sell close to asking.

  • List to sale price: The average home sells very close to list price.

  • Time on market: The average home goes pending in around 44 days.

Recent sales nearby

Within 1 mile · last 6 months

  • $559,995 Sold

    0 days ago

    3 bd•2.25 ba•~1,456 sq ft•Single Family

    15215 35th Ave W #C2, Lynnwood, WA 98087

    2%

    Under list

    49

    Days on market

    0.4 mi

    Distance

  • $565,000 Sold

    1 day ago

    3 bd•2.25 ba•~1,456 sq ft•Single Family

    15215 35th Ave W #D2, Lynnwood, WA 98087

    2%

    Under list

    32

    Days on market

    0.4 mi

    Distance

  • $712,000 Sold

    3 days ago

    3 bd•2.5 ba•~1,938 sq ft•Single Family

    2709 157th Place SW, Lynnwood, WA 98087

    5%

    Under list

    61

    Days on market

    0.8 mi

    Distance

  • $585,000 Sold

    1 week ago

    3 bd•2 ba•~1,917 sq ft•Single Family

    14715 Admiralty Way #A-5, Lynnwood, WA 98087

    2%

    Under list

    84

    Days on market

    0.8 mi

    Distance

  • $849,950 Sold

    2 weeks ago

    4 bd•2.5 ba•~2,251 sq ft•Single Family

    14815 40th Avenue W, Lynnwood, WA 98087

    0%

    Over list

    30

    Days on market

    0.3 mi

    Distance

Closed sales from MLS GRID / NWMLS within the past 6 months, matched on property type and within 1 mile. Comps approximate.

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Market data from MLS GRID / NWMLS · Updated Oct 2026

Information and statistics derived from Northwest Multiple Listing Service. Source: Northwest Multiple Listing Service, as distributed by MLS GRID.

MLS GRID Disclaimer

Based on information submitted to the MLS GRID as of October 17, 2026 at 4:05 AM PT (date and time MLS GRID Data was obtained). 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 courtesy of Northwest Multiple Listing Service (NWMLS). The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than RexMont Real Estate are marked with the “Listing courtesy of NWMLS” designation. Information provided is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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© 2026 Northwest Multiple Listing Service. All rights reserved.

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