2610 E Section #112 · Mount Vernon, WA 98274

$249,000

3 bd · 2.0 ba · 1,588 sqft · Manufactured public records · 161 Days on market

Built 1998 Est $245k · at est.

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Why this score? — see what drove the C+ 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 +26.3/30.0
• DSCR +8.9/10.0
• ARV discount +6.7/15.0
• 1% rule +6.5/10.0
• Schools +4.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Little Mountain Estates, a gated 55+ community offering many amenities, including a indoor pool, clubhouse, exercise room, library, event space, and RV storage. This well-maintained, move-in-ready home features 3 spacious bedrooms, 2 full baths, vaulted ceilings, and an inviting open layout with generous living and dining areas. The well-appointed kitchen flows nicely into the dining space, and the separate laundry room adds extra convenience. Enjoy year-round comfort with A/C. Outside, the property offers an attached garage with an EV charger, separate shop, fully fenced yard, and private patio perfect for relaxing or entertaining. Centrally located near shopping, dining, and me

Key facts

• Clubhouse
• Exercise room
• Event space

Tags

• INDOOR POOL
• CLUBHOUSE
• EXERCISE ROOM
• LIBRARY
• EVENT SPACE
• RV STORAGE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $249k.

Deal economics

• At list price, monthly cash flow is $646 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $249k).
• Recommended offer: $219k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 2.4% in Mount Vernon — 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 79/100 on livability (#106 in WA, #2,120 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: cost of living D+.
• Mount Vernon School District (urban): math 41% / reading 47% proficiency, ranked #189 of 291 in WA (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 171 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).
• This rent runs 36% of the median local income ($96k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Skagit County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $70k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 161 days — a 12% lower offer ($219k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 24y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $219,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 161 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.15% ✓
• Cap rate: 9.40%
• Cash-on-cash: 11.11%
• DSCR: 1.49
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $244,552
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2610 E Section #112	0.00mi	3/2.0	1,588 (0%)	1mo	$245,000	$154	99
1120 S 25th St #7	0.26mi	3/2.0	1,605 (+1%)	3mo	$130,000	$81	83
2610 E Section St #86	0.23mi	3/2.0	1,610 (+1%)	9mo	$250,000	$155	80
2610 E Section St #95	0.00mi	3/2.0	1,772 (+12%)	1mo	$285,000	$161	80
2610 E Section St #85	0.23mi	3/2.0	1,568 (-1%)	10mo	$219,000	$140	79
1120 S 25th St #45	0.21mi	3/2.0	1,512 (-5%)	8mo	$169,000	$112	75
2610 E Section St #12	0.23mi	3/2.0	1,736 (+9%)	4mo	$300,000	$173	71
1120 S 25th St #95	0.26mi	2/2.0 (-1)	1,512 (-5%)	6mo	$164,000	$108	70
1120 S 25th St #39	0.26mi	3/2.0	1,401 (-12%)	4mo	$160,000	$114	65
2610 E Section St #97	0.22mi	2/2.0 (-1)	1,388 (-13%)	3mo	$232,000	$167	62
2610 E Section St #46	0.23mi	2/1.5 (-1)	1,418 (-11%)	7mo	$300,000	$212	58
2610 E Section St #115	0.23mi	2/2.0 (-1)	1,772 (+12%)	10mo	$255,000	$144	56

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

Projected returns pro-forma

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

5-year hold

• IRR: 0.3%
• Equity multiple: 1.01×
• Total profit: $755
• Equity at exit: $37,127

10-year hold

• IRR: 9.9%
• Equity multiple: 1.77×
• Total profit: $53,545
• Equity at exit: $21,529

Cash invested: $69,720 (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 98274

• Active inventory: 171
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,876 medium
• Mortgage (P&I): −$1,306
• Tax from tax record: −$217 /mo · $2,601/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$604
• Net cashflow: $646

Break-even live

Break-even rent $2,059

Max offer price $249,000

Occupancy floor 73%

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2815 E Section St Mount Vernon, WA	2.0	2.0	2100	$2,100	$1.00	43d	1	0.18mi
119 N 29th Pl Mount Vernon, WA	3.0	1.0	1098	$2,700	$2.46	43d	1	0.67mi
1002 S 12th St Mount Vernon, WA	2.0	1.0	1052	$2,575	$2.45	20d	1	0.91mi
202 Dallas St Mount Vernon, WA	3.0	2.5	1582	$1,375	$0.87	20d	1	1.27mi

Listing history 17 events

1. 2026-04-22
   status Pending
2. 2026-03-10
   price $249,000
3. 2025-12-18
   status Active
4. 2025-12-12
   status Pending
5. 2025-11-06
   listed $255,000 Active
6. 2022-05-05
   soldstatus $225,000 Closed
7. 2022-04-13
   status Pending
8. 2022-04-07
   listed $225,000 Active
9. 2011-04-19
   soldstatus $47,500 Sold
10. 2011-04-07
    status Pending
11. 2011-03-28
    status Pending Inspection
12. 2011-01-17
    listed $49,450 Active
13. 2007-07-31
    soldstatus $128,500
14. 2007-06-23
    historical
15. 2007-06-11
    listed $128,500
16. 2002-10-31
    soldstatus $117,500
17. 2002-07-29
    listed $117,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast WA · Resets to sale price

• Current annual tax: $2,601 · $217/mo
• Projected year-2 tax: $2,601 · $217/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 8 d/yr ≥81°F today · 22 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,509
• − Mortgage interest: −$13,948
• − Property taxes: −$2,601
• − Insurance: −$1,245
• − Repairs & maintenance: −$2,761
• − Management: −$2,761
• − Depreciation: −$7,244
• Taxable income: $3,951
• Est. tax owed @ 24.0%: −$948
• After-tax cash flow: $6,799/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: Mount Vernon School District
• NCES district ID: 5305400
• Math proficiency: 41% ▼ -1.00%
• Reading proficiency: 47% ▲ 1.00%
• Median HH income: $50,829
• Composite: 40.14/100
• National rank: #7848
• State rank: #189 of 291 in WA

Livability — Mount Vernon

• Score: 79/100
• State rank: #106
• US rank: #2120

Category grades

Amenities C+ Commute A+ Cost of living D+ Crime B Employment B- Housing A+ Health & safety A+ User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mount Vernon, WA
• County: Skagit County · 118,108 people
• City population: 48,861
• Metro: Mount Vernon-Anacortes, WA
• Population (ZIP): 18,860
• Household income: $96,177
• Rent vs Own: 22.7% rent · 77.3% own
• Severe rent burden: 412.0

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: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 24% Two or more races 10% Asian 3% Native American 1% Black 1%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Portuguese 7% Italian 5% Iranian 2%
• Foreign-born: 13% · Canada, Vietnam, China
• Languages at home: 78% English-only · Spanish 16% Russian/Polish/Slavic 1% Tagalog/Filipino 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: ▼ -587.88%
• Current HPI: 363.1257
• 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

+111.9% since first listed

17 events — show timeline

• 2026-04-22 Pending — NWMLS as Distributed by MLS Grid
• 2026-03-10 Price Changed $249,000 NWMLS as Distributed by MLS Grid
• 2025-12-18 Relisted — NWMLS as Distributed by MLS Grid
• 2025-12-12 Pending — NWMLS as Distributed by MLS Grid
• 2025-11-06 Listed $255,000 NWMLS as Distributed by MLS Grid
• 2022-05-05 Sold (MLS) $225,000 NWMLS as Distributed by MLS Grid
• 2022-04-13 Pending — NWMLS as Distributed by MLS Grid
• 2022-04-07 Listed $225,000 NWMLS as Distributed by MLS Grid
• 2011-04-19 Sold (MLS) $47,500 NWMLS as Distributed by MLS Grid
• 2011-04-07 Pending — NWMLS as Distributed by MLS Grid
• 2011-03-28 Pending — NWMLS as Distributed by MLS Grid
• 2011-01-17 Listed $49,450 NWMLS as Distributed by MLS Grid
• 2007-07-31 Sold (MLS) $128,500 NWMLS as Distributed by MLS Grid
• 2007-06-23 Delisted — NWMLS as Distributed by MLS Grid
• 2007-06-11 Listed $128,500 NWMLS as Distributed by MLS Grid
• 2002-10-31 Sold (MLS) $117,500 NWMLS as Distributed by MLS Grid
• 2002-07-29 Listed $117,500 NWMLS as Distributed by MLS Grid

Property tax history

+5.6%/yr

Latest (2026): $2,601 · +8.1% YoY. Source: county tax records.