2600 E Division St #42 · Mount Vernon, WA 98274

$125,000

3 bd · 2.0 ba · 1,120 sqft · Manufactured public records · 48 Days on market

Built 1993 $112/sqft · 26% above area Est $99k · 26% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Very nice 3 bedroom, 2 bath mobile home, built in 1993. This park is for all ages. Monthly space rent is currently only $840/mo & includes sewer and garbage. This is one of the lowest space rents in Mount Vernon! Enter into a small covered entry room for your coats & shoes, then into the carpeted spacious living room with ceiling fan. Vinyl windows throughout home. Dining area has built-in hutch cabinet for lots of storage. Kitchen offers Stainless Steel electric flat top range, Stainless Steel microwave, newer dishwasher & fridge. New flooring in hall & bath. Primary bedroom has attached bath, which has recently been nicely remodeled with a newer walk-in shower. El

Key facts

• Carpeted living room
• Covered entry room
• Newer walk-in shower

Tags

• COVERED ENTRY ROOM
• CARPETED LIVING ROOM
• BUILT-IN HUTCH CABINET
• NEWER WALK-IN SHOWER
• LARGE STORAGE ROOM
• DETACHED LARGE OUTBUILDING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $121k (3.0% below list) — sets the bar for market timing.
• Cap rate 17.5% 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; 11 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 64% 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 30% 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 $864 of loan paydown is wiped out by about $4k 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 $35k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 20y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $125k implies a 317% gain — meaningful room to come down on a strong offer.

Recommended offer $121,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.94% ✓
• Cap rate: 17.46%
• Cash-on-cash: 39.87%
• DSCR: 2.77
• GRM: 4.3

CMA / ARV

• ARV (median comp): $99,403
• List price: $125,000
• Delta: 25.75%
• Verdict: OVERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
224 Widnor Dr	0.37mi	2/2.0 (-1)	1,162 (+4%)	9mo	$359,900	$310	64
2600 E Division St #60	0.00mi	2/2.0 (-1)	960 (-14%)	10mo	$150,000	$156	62
2610 E Section St #2	0.43mi	2/2.0 (-1)	1,136 (+1%)	20mo	$160,000	$141	56
2610 E Section St #7	0.61mi	2/2.0 (-1)	1,058 (-6%)	14mo	$215,000	$203	46
2610 E Section St #80	0.60mi	2/2.0 (-1)	1,160 (+4%)	19mo	$150,000	$129	45
2610 E Section St #17	0.61mi	2/2.0 (-1)	1,265 (+13%)	21mo	$176,900	$140	28

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: 36.2%
• Equity multiple: 2.54×
• Total profit: $53,780
• Equity at exit: $18,638

10-year hold

• IRR: 42.9%
• Equity multiple: 5.06×
• Total profit: $142,075
• Equity at exit: $10,808

Cash invested: $35,000 (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: 4.3×

Monthly cashflow live

• Estimated rent: $2,424 high
• Mortgage (P&I): −$656
• Tax from tax record: −$44 /mo · $533/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$509
• Net cashflow: $1,163

Break-even live

Break-even rent $952

Max offer price $125,000

Occupancy floor 47%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
119 N 29th Pl Mount Vernon, WA	3.0	1.0	1098	$2,700	$2.46	43d	1	0.35mi
130 Stanford Dr Unit C Mount Vernon, WA	2.0	1.0	800	$1,595	$1.99	43d	1	0.54mi
1511 Shirley Pl Mount Vernon, WA	2.0	1.0	936	$2,250	$2.40	43d	1	0.75mi
1002 S 12th St Mount Vernon, WA	2.0	1.0	1052	$2,575	$2.45	20d	1	0.89mi
1221 S 12th St Mount Vernon, WA	2.0	1.0	833	$2,195	$2.64	43d	1	0.95mi
1115 Nylin Ct Mount Vernon, WA	3.0	1.0	1032	$2,500	$2.42	43d	1	1.06mi
1521 N 26th St Mount Vernon, WA	1.0–3.0	1.0	807	$1,995	$2.47	20d	8	1.19mi
3316 E College Way Unit A Mount Vernon, WA	3.0	1.0	916	$2,000	$2.18	43d	1	1.33mi
1516 N 19th St Mount Vernon, WA	2.0	1.0	850	$1,795	$2.11	20d	1	1.34mi
1508 N Waugh Rd Apt B Mount Vernon, WA	2.0	1.0	1021	$2,300	$2.25	20d	1	1.37mi
115 E Cedar St Mount Vernon, WA	2.0	1.0	850	$1,600	$1.88	43d	1	1.47mi

Listing history 7 events

1. 2026-06-02
   status $125,000 Pending 48 DOM
2. 2026-06-01
   days on market $125,000 Active 48 DOM
3. 2026-05-31
   days on market $125,000 Active 47 DOM
4. 2026-05-30
   days on market $125,000 Active 46 DOM
5. 2026-04-14
   listed $135,000 Active
6. 2007-01-03
   soldstatus $29,990
7. 2006-08-14
   listed $29,990

ⓘ 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: $533 · $44/mo
• Projected year-2 tax: $1,225 · $102/mo
• Expected delta: +$692/yr (+$58/mo · 129.8%)

ⓘ 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 · 21 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: $29,088
• − Mortgage interest: −$7,002
• − Property taxes: −$533
• − Insurance: −$625
• − Repairs & maintenance: −$2,327
• − Management: −$2,327
• − Depreciation: −$3,636
• Taxable income: $12,637
• Est. tax owed @ 24.0%: −$3,033
• After-tax cash flow: $10,922/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

+350.2% since first listed

3 events — show timeline

• 2026-04-14 Listed $135,000 NWMLS as Distributed by MLS Grid
• 2007-01-03 Sold (MLS) $29,990 NWMLS as Distributed by MLS Grid
• 2006-08-14 Listed $29,990 NWMLS as Distributed by MLS Grid

Property tax history

+3.0%/yr

Latest (2026): $533 · +643.1% YoY. Source: county tax records.