24919 Hoehn Rd #49 · Sedro-Woolley, WA 98294

$48,000

2 bd · 1.0 ba · 1,127 sqft · Manufactured public records · 75 Days on market

Built 1983 $43/sqft · 75% below area ↓ 13% since listing

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Why this score? — see what drove the B- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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
• Appreciation +0.0/10.0

Listing remarks

Welcome to Van Fleet Park, a 55+ community in Sedro-Woolley offering affordable living in a convenient central location. This well-designed single wide with pop outs features 2 bedrooms and 2 baths with a spacious open concept layout, the home offers a peaceful setting with a covered porch that’s perfect for relaxing. Enjoy being just minutes from shopping, dining, medical facilities, and easy access to Highway 20. Home offers 2 additional storage sheds that provide plenty of room for tools, hobbies, or extra belongings. Come experience the comfort, value, and convenience of this quaint neighborhood tucked away in Sedro Woolley.

Key facts

• Covered porch
• Central location
• Quaint neighborhood

Tags

• CENTRAL LOCATION
• COVERED PORCH
• ADDITIONAL STORAGE SHEDS
• MINUTES FROM SHOPPING
• EASY ACCESS TO HIGHWAY 20
• QUAINT NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $48k.

Deal economics

• At list price, monthly cash flow is $775 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $48k).
• Recommended offer: $45k (6.0% below list) — sets the bar for market timing.
• Cap rate 36.3% 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 B — 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: Mary Purcell Elementary School (410 students, 75% FRL); Cascade Middle School (697 students, 58% FRL); Sedro Woolley Senior High School (1,276 students, 49% FRL) — zoned schools average 61% FRL vs 45% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 104 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 561 units permitted in Skagit County in 2024 (270 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $332 of loan paydown is wiped out by about $1k 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 $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($45k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $45,120 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 3.99% ✓
• Cap rate: 36.33%
• Cash-on-cash: 107.28%
• DSCR: 5.77
• GRM: 2.1

CMA / ARV

• ARV (median comp): $193,426
• List price: $48,000
• Delta: -75.18%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
24424 Wicker Rd	0.48mi	2/1.0	1,080 (-4%)	3mo	$250,000	$231	68
24892 Minkler Rd #20	0.07mi	3/2.0 (+1)	1,152 (+2%)	23mo	$162,500	$141	65
9403 Pierce Ln #1	0.61mi	2/2.0	1,120 (-1%)	3mo	$65,000	$58	64
24919 Hoehn Rd #33	0.07mi	3/2.0 (+1)	1,071 (-5%)	20mo	$74,900	$70	63
24919 Hoehn Rd #45	0.06mi	2/2.0	1,248 (+11%)	16mo	$152,000	$122	62
24892 Minkler Rd #7	0.07mi	2/2.0	1,232 (+9%)	21mo	$129,000	$105	60
24919 Hoehn Rd #65	0.07mi	3/2.0 (+1)	1,296 (+15%)	7mo	$160,000	$123	56
24892 Minkler Rd #10	0.07mi	2/2.0	960 (-15%)	18mo	$189,900	$198	53
1518 Hoehn Rd	0.19mi	3/2.0 (+1)	1,248 (+11%)	16mo	$490,000	$393	51
9079 Fruitdale Rd	0.62mi	3/2.0 (+1)	1,192 (+6%)	20mo	$390,000	$327	36
9403 Pierce Ln #28	0.61mi	2/2.0	960 (-15%)	13mo	$110,000	$115	32
9392 Thresher Ave	0.68mi	3/2.0 (+1)	960 (-15%)	5mo	$445,000	$464	30

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: 68.9%
• Equity multiple: 4.11×
• Total profit: $41,862
• Equity at exit: $7,157

10-year hold

• IRR: 73.0%
• Equity multiple: 8.53×
• Total profit: $101,146
• Equity at exit: $4,150

Cash invested: $13,440 (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 98294

• Home prices YoY: -26.4%
• Active inventory: 104
• Price-to-rent: 2.1×

Monthly cashflow live

• Estimated rent: $1,916 medium
• Mortgage (P&I): −$252
• Tax from tax record: −$40 /mo · $484/yr
• Insurance: −$20
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $775

Break-even live

Break-even rent $935

Max offer price $48,000

Occupancy floor 55%

Sensitivity live

Price	-10% $802	-5% $789	+0% $775	+5% $761	+10% $748
Rent	-10% $624	-5% $699	+0% $775	+5% $851	+10% $926
Rate	-1.0pp $799	-0.5pp $787	base $775	+0.5pp $763	+1.0pp $750

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: $12,000
• Closing costs: $1,440
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1133 Wicker Rd Sedro Woolley, WA	1.0–2.0	1.0	725	$1,695	$2.34	22d	3	0.62mi
1129 State St Unit 11292 Sedro-Woolley, WA	2.0	1.0	1054	$1,850	$1.76	45d	1	0.62mi
320 Birchwood Ln Sedro-Woolley, WA	3.0	2.5	1400	$2,500	$1.79	45d	1	1.43mi

Listing history 19 events

1. 2026-06-21
   days on market $48,000 Active 75 DOM
2. 2026-06-19
   days on market $48,000 Active 73 DOM
3. 2026-06-18
   days on market $48,000 Active 72 DOM
4. 2026-06-17
   days on market $48,000 Active 71 DOM
5. 2026-06-16
   days on market $48,000 Active 70 DOM
6. 2026-06-15
   days on market $48,000 Active 69 DOM
7. 2026-06-14
   days on market $48,000 Active 67 DOM
8. 2026-06-13
   days on market $48,000 Active 66 DOM
9. 2026-06-10
   days on market $48,000 Active 64 DOM
10. 2026-06-09
    days on market $48,000 Active 63 DOM
11. 2026-06-08
    days on market $48,000 Active 62 DOM
12. 2026-06-07
    days on market $48,000 Active 61 DOM
13. 2026-06-05
    days on market $48,000 Active 58 DOM
14. 2026-06-02
    days on market $48,000 Active 56 DOM
15. 2026-06-01
    days on market $48,000 Active 55 DOM
16. 2026-05-31
    days on market $48,000 Active 54 DOM
17. 2026-05-30
    days on market $48,000 Active 53 DOM
18. 2026-05-04
    price $48,000
19. 2026-04-07
    listed $55,000 Active

ⓘ 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: $484 · $40/mo
• Projected year-2 tax: $484 · $40/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 7/10 Severe FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 2/10 Low 8 d/yr ≥83°F today · 21 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: $22,992
• − Mortgage interest: −$2,689
• − Property taxes: −$484
• − Insurance: −$5,358
• − Repairs & maintenance: −$1,839
• − Management: −$1,839
• − Depreciation: −$1,396
• Taxable income: $9,385
• Est. tax owed @ 24.0%: −$2,252
• After-tax cash flow: $7,048/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

• Population (ZIP): 7,838

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 (67%)
• Race & ethnicity: White 67% Hispanic / Latino 17% Two or more races 14% Asian 8% Native American 3% Black 1%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Portuguese 7% Slovak 6% Italian 2%
• Foreign-born: 21% · Canada, Vietnam
• Languages at home: 79% English-only · Spanish 15% Other Asian/Pacific 4% Vietnamese 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: ▼ -99.36%
• Current HPI: 277.4099
• Rent YoY: —
• Metro: —
• 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

-12.7% since first listed

2 events — show timeline

• 2026-05-04 Price Changed $48,000 NWMLS as Distributed by MLS Grid
• 2026-04-07 Listed $55,000 NWMLS as Distributed by MLS Grid

Property tax history

+8.5%/yr

Latest (2026): $484 · -9.3% YoY. Source: county tax records.