7339 Hideaway Ln · Concrete, WA 98237

$470,000

3 bd · 2.0 ba · 1,800 sqft · SingleFamily public records · 38 Days on market

Built 1998 0.41 ac lot $261/sqft · at area comps Est $485k · at est. $25/mo HOA · 1% of rent

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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
• ARV discount +8.9/15.0
• Cash flow +6.7/30.0
• Livability +3.8/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.2/10.0
• DSCR +0.9/10.0

Listing remarks

Steal of a deal! Walk into this home with instant equity! Brand new roof, flooring and interior. Pre inspection done, near everything squashed. This house is perfect! Vaulted ceilings, garden space, and mature fruit trees. Outside of the flood zone! What more can we say? Open concept, flowing from kitchen to living space. 3 bedroom 2 bath, 1800sq ft so definitely a lot of space! Come take a look!

Key facts

• 0.41 acre lot
• Garage
• Built 1998

Property features AI

Finance

• Other: Lot includes fruit trees and garden space; Lot size approx. 0.41 acres; Building name: Wilderness Village
• Financial info: Acceptable financing: Cash, Conventional, FHA, VA
• HOA & community: Has HOA; $300 annual fee covering common area maintenance, road maintenance, and snow removal; Community features: CCRs, park

Exterior

• Parking: Attached garage; Driveway; 1 covered parking space
• Utilities: Electric energy source; Community water (Skagit PUD); Septic sewer; Electric water heater; Cable: Astound; Internet: Astound
• Home design: Single family residence; One story with basement; Entry on main level; Has a view
• Construction: Wood construction; Composition roof; Built on lot; Poured concrete foundation; Structure type: House
• Exterior features: Wood exterior products; Deck; Dog run; High‑speed internet available; Partial slope topography; Community waterfront / private beach access; Cul‑de‑sac lot

Interior

• Kitchen: Dishwasher; Refrigerator; Stove/Range; Kitchen (without eating space)
• Bedrooms: 3 bedrooms total — Primary bedroom on the main level; 2 bedrooms on the lower level; den/office on the main level
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms — 1 full bath on the main level; 1 full bath on the lower level; 2 bathtubs; 2 showers
• Heating & cooling: Forced air heating; Free‑standing stove; No central air
• Interior features: Ceiling fans; Dining room; Fireplace (gas); French doors; Skylights; Vaulted ceilings; Water heater; Wired for generator
• Laundry & utility: Utility room on the lower level; Water heater located in basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $470k.

Deal economics

• At list price, monthly cash flow is $-758 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $336k (28.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $290k (38.3% below list).
• Recommended offer: $290k (38.3% below list) — sets the bar for 1% rule.
• Cap rate 4.4% vs local median 2.6% in Concrete — 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 76/100 on livability (#157 in WA, #3,709 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: crime F, amenities F.
• Concrete School District (rural): math 24% / reading 45% proficiency, ranked #255 of 291 in WA (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Concrete Elementary (301 students, 41% FRL); Concrete High School (193 students, 43% FRL) — zoned schools average 42% FRL vs 60% district-wide (17 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 96 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 561 units permitted in Skagit County in 2024 (270 in 5+ unit buildings).

Forward outlook

• In year one you build about $50k of equity ($3k loan paydown + $47k 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 ~$81k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($456k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 26y ago; this cycle's ask has dropped $29k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $235k; list at $470k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $290,000 (38.3% 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 38 days. Have you received any prior offers? Is the seller open to a 38% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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?
8. 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.
9. 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.
10. 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: 0.62% ✗
• Cap rate: 4.36%
• Cash-on-cash: -6.91%
• DSCR: 0.69
• GRM: 13.5

CMA / ARV

• ARV (median comp): $485,060
• List price: $470,000
• Delta: -3.10%
• Verdict: FAIR
• Comps: 15 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7340 Hideaway Ln	0.05mi	3/2.0	1,936 (+8%)	4mo	$505,000	$261	82
7582 Pressentin Ct	0.29mi	3/2.0	1,866 (+4%)	11mo	$618,075	$331	71
43963 Dalles Rd	0.30mi	3/2.0	1,680 (-7%)	24mo	$395,000	$235	55
7576 Skagit View Dr	0.23mi	3/2.0	1,552 (-14%)	17mo	$460,000	$296	52
7609 Pressentin Ct	0.36mi	3/2.0	1,532 (-15%)	10mo	$490,000	$320	50

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

Projected returns pro-forma

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

5-year hold

• IRR: 19.4%
• Equity multiple: 2.58×
• Total profit: $207,650
• Equity at exit: $423,413

10-year hold

• IRR: 17.8%
• Equity multiple: 5.93×
• Total profit: $649,277
• Equity at exit: $913,107

Cash invested: $131,600 (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 98237

• Home prices YoY: 18.6%
• Active inventory: 96
• Price-to-rent: 13.5×

Monthly cashflow live

• Estimated rent: $2,900 medium
• Mortgage (P&I): −$2,465
• Tax from tax record: −$363 /mo · $4,355/yr
• Insurance: −$196
• HOA: −$25
• Vacancy / Maint / Mgmt: −$609
• Net cashflow: $-758

Break-even live

Break-even rent $3,859

Max offer price $336,183

Occupancy floor —

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: $117,500
• Closing costs: $14,100
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
44866 Dalles Rd Concrete, WA	2.0	2.0	1800	$2,900	$1.61	13d	1	1.11mi

HOA detail

• Monthly dues: $25 · $300/yr

Listing history 18 events

1. 2026-06-07
   statusdays on market $470,000 Pending 38 DOM
2. 2026-06-02
   days on market $470,000 Active 35 DOM
3. 2026-06-01
   days on market $470,000 Active 34 DOM
4. 2026-05-31
   days on market $470,000 Active 33 DOM
5. 2026-05-30
   days on market $470,000 Active 32 DOM
6. 2026-05-13
   price $480,000
7. 2026-05-08
   price $494,000
8. 2026-04-28
   listed $499,000 Active
9. 2018-07-13
   soldstatus $235,000 Sold
10. 2018-07-13
    soldstatus $235,000
11. 2018-06-06
    status Pending
12. 2018-05-26
    status Pending Inspection
13. 2018-05-22
    price $240,000
14. 2018-05-11
    listed $250,000 Active
15. 2001-05-04
    soldstatus $113,500
16. 2001-05-04
    soldstatus $113,500
17. 2000-04-27
    listed $124,999
18. 1996-12-02
    soldstatus $14,500

ⓘ 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: $4,355 · $363/mo
• Projected year-2 tax: $4,606 · $384/mo
• Expected delta: +$251/yr (+$21/mo · 5.8%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 9 d/yr ≥87°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 11 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,800
• − Mortgage interest: −$26,327
• − Property taxes: −$4,355
• − Insurance: −$2,350
• − Repairs & maintenance: −$2,784
• − Management: −$2,784
• − HOA: −$300
• − Depreciation: −$13,673
• Taxable loss: −$17,773
• Est. tax savings @ 24.0%: +$4,266
• After-tax cash flow: $-4,824/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: Concrete School District
• NCES district ID: 5301660
• Math proficiency: 24% ▼ -1.00%
• Reading proficiency: 45% ▲ 7.00%
• Median HH income: $43,849
• Composite: 31.96/100
• National rank: #11033
• State rank: #255 of 291 in WA

Livability — Concrete

• Score: 76/100
• State rank: #157
• US rank: #3709

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,110

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 12% Two or more races 8% Native American 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Portuguese 5% Iranian 4% Slovak 3%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 4% French/Haitian/Cajun 1% Russian/Polish/Slavic 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: ▲ 83.52%
• Current HPI: 533.5113
• 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

+3141.4% since first listed

15 events — show timeline

• 2026-06-05 Pending — NWMLS as Distributed by MLS Grid
• 2026-05-22 Price Changed $470,000 NWMLS as Distributed by MLS Grid
• 2026-05-13 Price Changed $480,000 NWMLS as Distributed by MLS Grid
• 2026-05-08 Price Changed $494,000 NWMLS as Distributed by MLS Grid
• 2026-04-28 Listed $499,000 NWMLS as Distributed by MLS Grid
• 2018-07-13 Sold (Public Records) $235,000 Public Records
• 2018-07-13 Sold (MLS) $235,000 NWMLS as Distributed by MLS Grid
• 2018-06-06 Pending — NWMLS as Distributed by MLS Grid
• 2018-05-26 Pending — NWMLS as Distributed by MLS Grid
• 2018-05-22 Price Changed $240,000 NWMLS as Distributed by MLS Grid
• 2018-05-11 Listed $250,000 NWMLS as Distributed by MLS Grid
• 2001-05-04 Sold (Public Records) $113,500 Public Records
• 2001-05-04 Sold (MLS) $113,500 NWMLS as Distributed by MLS Grid
• 2000-04-27 Listed $124,999 NWMLS as Distributed by MLS Grid
• 1996-12-02 Sold (Public Records) $14,500 Public Records

Property tax history

+5.7%/yr

Latest (2026): $4,355 · +14.2% YoY. Source: county tax records.