2725 E Fir St #41 · Mount Vernon, WA 98273

$89,500

2 bd · 2.0 ba · 1,248 sqft · Manufactured · 25 Days on market

Built 1977 Good condition 1,196 sqft lot Est $91k · at est.

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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 +8.3/15.0
• Schools +4.0/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +3.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautifully updated 2-bedroom, 2-bath manufactured home in the highly desirable Park Village 55+ community. This thoughtfully remodeled home features fresh paint and new flooring, creating a bright, move-in ready space. Enjoy year-round comfort with a gas heat pump and a cozy fireplace in the living area. The kitchen offers updated appliances, including a new washer and dryer, dishwasher, refrigerator, and an upgraded stove with double ovens—perfect for everyday living and entertaining. Outside, you’ll find rare dual driveways with carports, providing ample parking. A ramp with handrails ensures easy access, while the enclosed front deck seating area offers a relaxing space to e

Key facts

• Updated appliances
• Community pond
• Carports

Tags

• UPDATED APPLIANCES
• DUAL DRIVEWAYS
• CARPORTS
• ENCLOSED FRONT DECK
• SOLID STICK-BUILT STORAGE SHED
• COMMUNITY POND

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $90k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $88k (1.5% below list) — sets the bar for market timing.
• Cap rate 20.2% 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: Rents rising (+2.3%/yr); 199 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% 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 33% of the median local income ($77k/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 $619 of loan paydown is wiped out by about $3k 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 + 2.3% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($88k) is reasonable based on typical stale-listing flexibility.

Recommended offer $88,157 (1.5% below list)

Questions for the listing agent

1. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 2.35% ✓
• Cap rate: 20.24%
• Cash-on-cash: 49.83%
• DSCR: 3.22
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $91,104
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2725 E Fir St #41	0.00mi	2/2.0	1,248 (0%)	1mo	$85,000	$68	99
2725 E Fir St #84	0.00mi	2/2.0	1,280 (+3%)	10mo	$122,000	$95	88
2725 Fir St #22	0.02mi	2/2.0	1,272 (+2%)	10mo	$75,500	$59	88
2725 E Fir St #15	0.04mi	2/2.0	1,152 (-8%)	3mo	$97,000	$84	82
2725 E Fir #43	0.00mi	2/2.0	1,152 (-8%)	9mo	$64,000	$56	80
2725 E Fir St	0.02mi	2/2.0	1,334 (+7%)	11mo	$92,000	$69	78
2725 E Fir St #110	0.02mi	2/2.0	1,152 (-8%)	12mo	$55,000	$48	76
2725 E Fir St #13	0.02mi	2/2.0	1,344 (+8%)	13mo	$97,500	$73	75
2725 E Fir St #2	0.02mi	3/2.0 (+1)	1,344 (+8%)	14mo	$60,000	$45	70
2725 E Fir St #85	0.02mi	2/2.0	1,428 (+14%)	13mo	$115,000	$81	64
1915 N 33rd Pl	0.69mi	2/2.0	1,274 (+2%)	4mo	$399,000	$313	61
1905 N 33rd	0.66mi	3/2.0 (+1)	1,274 (+2%)	9mo	$480,000	$377	53

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 · 2.33% rent growth · sell at horizon

5-year hold

• IRR: 46.8%
• Equity multiple: 3.01×
• Total profit: $50,398
• Equity at exit: $13,345

10-year hold

• IRR: 52.2%
• Equity multiple: 5.93×
• Total profit: $123,661
• Equity at exit: $7,738

Cash invested: $25,060 (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 98273

• Rents YoY: 2.3%
• Active inventory: 199
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $2,100 high
• Mortgage (P&I): −$469
• Tax est. 1.5%: −$112 /mo · $1,342/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $1,041

Break-even live

Break-even rent $783

Max offer price $89,500

Occupancy floor 45%

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: $22,375
• Closing costs: $2,685
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1521 N 26th St Mount Vernon, WA	1.0–3.0	1.0	807	$1,755	$2.17	20d	8	0.32mi
1115 Nylin Ct Mount Vernon, WA	3.0	1.0	1032	$2,500	$2.42	43d	1	0.50mi
3316 E College Way Unit A Mount Vernon, WA	3.0	1.0	916	$2,000	$2.18	43d	1	0.53mi
1516 N 19th St Mount Vernon, WA	2.0	1.0	850	$1,795	$2.11	20d	1	0.62mi
119 N 29th Pl Mount Vernon, WA	3.0	1.0	1098	$2,700	$2.46	43d	1	0.62mi
130 Stanford Dr Unit C Mount Vernon, WA	2.0	1.0	800	$1,595	$1.99	43d	1	0.74mi
1508 N Waugh Rd Apt B Mount Vernon, WA	2.0	1.0	1021	$2,300	$2.25	20d	1	0.74mi
3129 Arbor St Mount Vernon, WA	3.0	2.0	1244	$2,600	$2.09	20d	1	1.16mi
1011 E Division St Unit 103 Mount Vernon, WA	1.0	1.0	800	$1,250	$1.56	43d	1	1.18mi
115 E Cedar St Mount Vernon, WA	2.0	1.0	850	$1,600	$1.88	43d	1	1.32mi
2430 W Meadow Blvd Mount Vernon, WA	3.0	2.5	1400	$3,000	$2.14	43d	1	1.33mi
1002 S 12th St Mount Vernon, WA	2.0	1.0	1052	$2,575	$2.45	20d	1	1.37mi
1511 Shirley Pl Mount Vernon, WA	2.0	1.0	936	$2,250	$2.40	43d	1	1.38mi

Listing history 2 events

1. 2026-04-27
   status Pending
2. 2026-04-02
   listed $89,500 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 · 22% 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: $25,202
• − Mortgage interest: −$5,013
• − Property taxes: −$1,342
• − Insurance: −$448
• − Repairs & maintenance: −$2,016
• − Management: −$2,016
• − Depreciation: −$2,604
• Taxable income: $11,762
• Est. tax owed @ 24.0%: −$2,823
• After-tax cash flow: $9,664/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 80/100 Cosmetic rehab

This well-maintained, updated manufactured home in Park Village 55+ community is move-in ready with fresh paint and new flooring, making it an attractive option for both resale and rental.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value
• Both exterior paint — refreshes the home's appearance
• Both interior paint — refreshes the home's appearance

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — enhances curb appeal and adds value ↑
• Both exterior paint — refreshes the home's appearance ↑
• Both interior paint — refreshes the home's appearance ↑

ⓘ 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: 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): 30,001
• Household income: $76,717
• Rent vs Own: 38.6% rent · 61.4% own
• Severe rent burden: 1045.0

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 (60%)
• Race & ethnicity: White 60% Hispanic / Latino 32% Two or more races 9% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 30%
• Common ancestry: Portuguese 6% Slovak 3% Italian 2%
• Foreign-born: 14% · Canada
• Languages at home: 71% English-only · Spanish 25% Russian/Polish/Slavic 1% Other Indo-European 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: ▼ -525.00%
• Current HPI: 395.3742
• Rent YoY: ▲ 2.33%
• 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

2 events — show timeline

• 2026-04-27 Pending — NWMLS as Distributed by MLS Grid
• 2026-04-02 Listed $89,500 NWMLS as Distributed by MLS Grid