313 E Woodworth St #4 · Sedro-Woolley, WA 98284

$944,000

9 bd · 3.9 ba · 3,294 sqft · MultiFamily · 321 Days on market

Built 1978 9,152 sqft lot $287/sqft · 61% above area ↓ 6% since listing

---

Why this score? — see what drove the D 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).

• Appreciation +10.0/10.0
• Cash flow +7.8/30.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• DSCR +1.9/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

2 Four Plex Units sold separately or together as Eight (8) Units consisting of 4 - 2 bed 1 bath units. 313 Woodworth and 315 Woodworth. Built in 1978 these units are well maintained and are continually updated. Typically when a tenant moves out new kitchens, bathrooms, flooring and paint are installed as needed. All units have laundry hookups. One unit is recently vacant and remodeled.

Key facts

• Recently remodeled
• Laundry hookups
• 9,152 sq ft lot

Tags

• LAUNDRY HOOKUPS
• RECENTLY REMODELED

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/?-bath units multifamily listed at $944k.

Deal economics

• At list price, monthly cash flow is $-1k ($-13k/yr) — negative. Per door: $-355/mo.
• To cash-flow at today's rent, offer at most $790k (16.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $691k (26.8% below list).
• Recommended offer: $691k (26.8% below list) — sets the bar for 1% rule.
• Cap rate 4.9% 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 D — 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; solid renter incomes; 561 units permitted in Skagit County in 2024 (270 in 5+ unit buildings).
• At $6,911/mo this rent would consume 89% of the median local household income ($93k/yr) (locally 502% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $101k of equity ($7k loan paydown + $94k appreciation (10.0% local appreciation)).
• Skagit County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$162k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 321 days — a 12% lower offer ($831k) is reasonable based on typical stale-listing flexibility.

Recommended offer $691,100 (26.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 321 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.73% ✗
• Cap rate: 4.94%
• Cash-on-cash: -4.83%
• DSCR: 0.79
• GRM: 11.4

CMA / ARV

• ARV (median comp): $586,704
• List price: $944,000
• Delta: 60.90%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 20.9%
• Equity multiple: 2.69×
• Total profit: $446,460
• Equity at exit: $850,430

10-year hold

• IRR: 18.9%
• Equity multiple: 6.18×
• Total profit: $1,368,253
• Equity at exit: $1,833,984

Cash invested: $264,320 (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: 34.1×

Monthly cashflow live

• Estimated rent: $6,911 high
• Mortgage (P&I): −$4,950
• Tax est. 1.5%: −$1,180 /mo · $14,160/yr
• Insurance: −$393
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,451
• Net cashflow: $-1,064

Break-even live

Break-even rent $8,258

Max offer price $790,026

Occupancy floor —

Sensitivity live

Price	-10% $-412	-5% $-738	+0% $-1,064	+5% $-1,390	+10% $-1,716
Rent	-10% $-1,610	-5% $-1,337	+0% $-1,064	+5% $-791	+10% $-518
Rate	-1.0pp $-589	-0.5pp $-824	base $-1,064	+0.5pp $-1,309	+1.0pp $-1,558

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	3	—	$6,912
Total (3 units)			$6,911

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: $236,000
• Closing costs: $28,320
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $944,000 Active 321 DOM
2. 2026-06-19
   pricedays on market $944,000 Active 319 DOM
3. 2026-06-18
   days on market $1,020,000 Active 318 DOM
4. 2026-06-17
   days on market $1,020,000 Active 317 DOM
5. 2026-06-16
   days on market $1,020,000 Active 316 DOM
6. 2026-06-15
   days on market $1,020,000 Active 315 DOM
7. 2026-06-14
   days on market $1,020,000 Active 313 DOM
8. 2026-06-13
   days on market $1,020,000 Active 312 DOM
9. 2026-06-10
   days on market $1,020,000 Active 310 DOM
10. 2026-06-09
    days on market $1,020,000 Active 309 DOM
11. 2026-06-08
    days on market $1,020,000 Active 308 DOM
12. 2026-06-07
    days on market $1,020,000 Active 307 DOM
13. 2026-06-05
    days on market $1,020,000 Active 304 DOM
14. 2026-06-02
    days on market $1,020,000 Active 302 DOM
15. 2026-06-01
    days on market $1,020,000 Active 301 DOM
16. 2026-05-31
    days on market $1,020,000 Active 300 DOM
17. 2026-05-30
    days on market $1,020,000 Active 299 DOM
18. 2025-12-06
    price $1,020,000
19. 2025-08-04
    listed $1,086,000 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 4/10 Moderate FEMA zone X · 23% chance over 30 yrs
• 🔥 Wildfire 3/10 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: $82,932
• − Mortgage interest: −$52,879
• − Property taxes: −$14,160
• − Insurance: −$4,720
• − Repairs & maintenance: −$6,635
• − Management: −$6,635
• − Depreciation: −$27,462
• Taxable loss: −$29,558
• Est. tax savings @ 24.0%: +$7,094
• After-tax cash flow: $-5,675/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.

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

-6.1% since first listed

2 events — show timeline

• 2025-12-06 Price Changed $1,020,000 NWMLS as Distributed by MLS Grid
• 2025-08-04 Listed $1,086,000 NWMLS as Distributed by MLS Grid