920 Maple Ln #18 · Sedro-Woolley, WA 98284

$60,000

2 bd · 1.0 ba · 924 sqft · Manufactured · 197 Days on market

Built 1976 Good condition $65/sqft · 14% below area Est $70k · 14% under ↓ 37% since listing

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Why this score? — see what drove the A 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
• ARV discount +13.9/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Schools +4.7/10.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0

Listing remarks

Seller Motivated – Significant Price Reduction! ALL AGES Welcome. Financing Available. Don’t miss this fantastic opportunity to own in a welcoming ALL AGES community in Sedro-Woolley! This charming 2-bedroom home offers 924 sq. ft. of bright, thoughtfully designed living space with an easy, comfortable flow. Enjoy peace of mind with recent upgrades, including a new furnace, energy-efficient mini-split system, newer vinyl windows, and a durable roof—making this home truly move-in ready. Relax on the covered porch, take advantage of the spacious two-car carport, and embrace low-maintenance living. Conveniently located near local shops, dining, and everyday essentials, this h

Key facts

• Covered porch
• New furnace
• Newer vinyl windows

Tags

• NEW FURNACE
• MINI SPLIT
• NEWER VINYL WINDOWS
• DURABLE ROOF
• COVERED PORCH
• CARPORT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $60k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 31.7% vs local median 2.4% in Sedro-Woolley — 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: area grade A — affects rentability + tenant quality, not the cash-flow math above.
• Sedro-Woolley School District (suburban): math 47% / reading 58% proficiency, ranked #117 of 291 in WA (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Central Elementary School (464 students, 61% FRL); Cascade Middle School (697 students, 58% FRL); Sedro Woolley Senior High School (1,276 students, 49% FRL).
• Market conditions: 232 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 561 units permitted in Skagit County in 2024 (270 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($415 loan paydown + $6k appreciation (10.0% local appreciation)).
• Skagit County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 197 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $52,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 197 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 3.56% ✓
• Cap rate: 31.70%
• Cash-on-cash: 90.75%
• DSCR: 5.04
• GRM: 2.3

CMA / ARV

• ARV (median comp): $70,000
• List price: $60,000
• Delta: -14.29%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
920 Maple Ln #18	0.00mi	2/1.0	924 (0%)	0mo	$60,000	$65	100

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 99.7%
• Equity multiple: 7.76×
• Total profit: $113,626
• Equity at exit: $54,053

10-year hold

• IRR: 95.1%
• Equity multiple: 17.13×
• Total profit: $271,042
• Equity at exit: $116,567

Cash invested: $16,800 (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 98284

• Home prices YoY: 3.5%
• Active inventory: 232
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $2,133 high
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$448
• Net cashflow: $1,270

Break-even live

Break-even rent $525

Max offer price $60,000

Occupancy floor 35%

Sensitivity live

Price	-10% $1,312	-5% $1,291	+0% $1,270	+5% $1,250	+10% $1,229
Rent	-10% $1,102	-5% $1,186	+0% $1,270	+5% $1,355	+10% $1,439
Rate	-1.0pp $1,301	-0.5pp $1,286	base $1,270	+0.5pp $1,255	+1.0pp $1,239

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
820 Trail Rd Sedro Woolley, WA	1.0–2.0	1.0–2.0	790	$2,500	$3.16	22d	2	0.26mi
413 Rowland Rd Sedro Woolley, WA	2.0	2.0	980	$1,900	$1.94	45d	1	0.80mi
1129 State St Unit 11292 Sedro-Woolley, WA	2.0	1.0	1054	$1,850	$1.76	45d	1	1.32mi
1133 Wicker Rd Sedro Woolley, WA	1.0–2.0	1.0	725	$1,695	$2.34	22d	3	1.37mi
1135 Dean Dr Unit A-5 Sedro-Woolley, WA	1.0	1.0	625	$1,495	$2.39	22d	1	1.37mi

Listing history 6 events

1. 2026-05-07
   status Pending
2. 2026-03-23
   price $60,000
3. 2026-03-04
   price $70,000
4. 2026-01-23
   price $84,000
5. 2025-12-01
   price $87,500
6. 2025-10-22
   listed $95,000 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 5/10 Major FEMA zone X · 24% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥83°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 9 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,597
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$300
• − Repairs & maintenance: −$2,048
• − Management: −$2,048
• − Depreciation: −$1,745
• Taxable income: $15,195
• Est. tax owed @ 24.0%: −$3,647
• After-tax cash flow: $11,599/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This charming 2-bedroom home is move-in ready with recent upgrades, including a new furnace and energy-efficient mini-split system. The exterior and interior are in good condition, with minor repairs needed to the kitchen and bathroom. Fresh paint and updated fixtures would significantly enhance its value.

Repairs flagged

• Minor kitchen cabinets — Worn appearance
• Minor bathroom fixtures — Dated appearance
• Minor living room carpet — Worn appearance

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace kitchen cabinets — New cabinets improve functionality and aesthetics
• Both Replace bathroom fixtures — Modern fixtures enhance functionality and aesthetics
• Both Replace living room carpet — New carpet improves comfort and aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · Worn appearance	Minor	$500–3,000
bathroom fixtures · Dated appearance	Minor	$500–3,000
living room carpet · Worn appearance	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace kitchen cabinets — New cabinets improve functionality and aesthetics ↑
• Both Replace bathroom fixtures — Modern fixtures enhance functionality and aesthetics ↑
• Both Replace living room carpet — New carpet improves comfort and aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Sedro-Woolley School District
• NCES district ID: 5307740
• Math proficiency: 47% ▼ -2.00%
• Reading proficiency: 58% ▬ 0.00%
• Median HH income: $57,385
• Composite: 47.45/100
• National rank: #5005
• State rank: #117 of 291 in WA

Livability — Sedro-Woolley

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Sedro-Woolley, WA
• County: Skagit County · 118,108 people
• Metro: Mount Vernon-Anacortes, WA
• Population (ZIP): 27,835
• Household income: $93,006
• Rent vs Own: 27.0% rent · 73.0% own
• Severe rent burden: 502.0

Population outlook (Skagit County) Hauer SSP2

• Today (2025): 131,498 people
• By 2030: 135,556 · +3.1%
• By 2040: 141,717 · +7.8%
• By 2050: 145,714 · +10.8%
• By 2075: 152,201 · +15.7%
• By 2100: 147,980 · +12.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 14% Two or more races 8% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 12% Puerto Rican 1%
• Common ancestry: Portuguese 6% Slovak 4% Italian 3%
• Foreign-born: 5% · Canada, China
• Languages at home: 88% English-only · Spanish 10% German/W. Germanic 1%

Political lean MEDSL · Skagit

• 2024 margin: Lean D (+8.9) · D 52.9% · R 44.0% · Other 3.0%
• 2008→2024 swing: -0.7pp no change · 2008: 9.6pp · 2024: 8.9pp
• All cycles: 2024: D+8.9 2020: D+7.5 2016: D+3.2 2012: D+5.8 2008: D+9.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 43.42%
• Current HPI: 1280.83
• Rent YoY: —
• Metro: Mount Vernon-Anacortes, WA
• 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

-36.8% since first listed

6 events — show timeline

• 2026-05-07 Pending — NWMLS as Distributed by MLS Grid
• 2026-03-23 Price Changed $60,000 NWMLS as Distributed by MLS Grid
• 2026-03-04 Price Changed $70,000 NWMLS as Distributed by MLS Grid
• 2026-01-23 Price Changed $84,000 NWMLS as Distributed by MLS Grid
• 2025-12-01 Price Changed $87,500 NWMLS as Distributed by MLS Grid
• 2025-10-22 Listed $95,000 NWMLS as Distributed by MLS Grid