2725 E Fir St Unit 105 · Mount Vernon, WA 98273

$55,000

3 bd · 2.0 ba · 1,728 sqft · Manufactured public records · 145 Days on market

Built 1980 $32/sqft · 40% below area Est $92k · 40% under ↓ 31% since listing

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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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.0/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Spacious and comfortable 3BR/2BA manufactured home offering two living areas and two dining spaces, providing flexibility for everyday living or entertaining. The oversized kitchen features generous storage and double ovens. One living room includes a fireplace with fan, while the second offers plenty of room for larger furniture or hobbies. Ramped, no-step entry and a large primary suite add convenience. Located on a corner lot with RV parking, covered carport, and an additional covered front patio. Two storage sheds, including one with workshop space. Well-proportioned layout with great potential, located in Park Village, a welcoming 55+ community.

Key facts

• Two dining spaces
• Oversized kitchen
• Two living areas

Tags

• TWO LIVING AREAS
• TWO DINING SPACES
• OVERSIZED KITCHEN
• DOUBLE OVENS
• FIREPLACE WITH FAN
• RAMPED NO-STEP ENTRY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $55k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• Cap rate 40.1% 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; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 43% 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 38% 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 $380 of loan paydown is wiped out by about $2k 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 $15k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 145 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $32k (37%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $48,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 145 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: 4.44% ✓
• Cap rate: 40.07%
• Cash-on-cash: 120.65%
• DSCR: 6.37
• GRM: 1.9

CMA / ARV

• ARV (median comp): $91,976
• List price: $55,000
• Delta: -40.20%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2725 E Fir #74	0.00mi	3/2.0	1,754 (+2%)	10mo	$120,000	$68	89
2725 E Fir #98	0.02mi	3/2.0	1,578 (-9%)	7mo	$78,500	$50	79
2725 E Fir #99	0.00mi	2/2.0 (-1)	1,524 (-12%)	9mo	$82,000	$54	68
2901 Schuller Pl	0.15mi	4/2.0 (+1)	1,504 (-13%)	2mo	$480,000	$319	64
1801 N 32nd Pl	0.54mi	3/2.0	1,620 (-6%)	15mo	$450,000	$278	52
1400 N 30th St #129	0.41mi	3/2.0	1,536 (-11%)	16mo	$155,000	$101	49
1912 N 32nd Pl	0.63mi	3/2.0	1,782 (+3%)	22mo	$455,000	$255	47
1810 N 32nd Pl	0.59mi	3/2.0	1,620 (-6%)	18mo	$462,000	$285	47
1800 N 32nd Pl	0.57mi	3/2.0	1,512 (-12%)	17mo	$450,000	$298	39

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: —
• Equity multiple: 6.72×
• Total profit: $88,104
• Equity at exit: $8,201

10-year hold

• IRR: —
• Equity multiple: 13.81×
• Total profit: $197,233
• Equity at exit: $4,755

Cash invested: $15,400 (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: 1.9×

Monthly cashflow live

• Estimated rent: $2,441 high
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $825/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$513
• Net cashflow: $1,548

Break-even live

Break-even rent $481

Max offer price $55,000

Occupancy floor 32%

Sensitivity live

Price	-10% $1,586	-5% $1,567	+0% $1,548	+5% $1,529	+10% $1,510
Rent	-10% $1,355	-5% $1,452	+0% $1,548	+5% $1,645	+10% $1,741
Rate	-1.0pp $1,576	-0.5pp $1,562	base $1,548	+0.5pp $1,534	+1.0pp $1,520

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1521 N 26th St Mount Vernon, WA	1.0–3.0	1.0	807	$1,995	$2.47	22d	8	0.32mi
119 N 29th Pl Mount Vernon, WA	3.0	1.0	1098	$2,700	$2.46	44d	1	0.62mi
2815 E Section St Mount Vernon, WA	2.0	2.0	2100	$2,100	$1.00	44d	1	1.10mi
3129 Arbor St Mount Vernon, WA	3.0	2.0	1244	$2,600	$2.09	22d	1	1.16mi
202 Dallas St Mount Vernon, WA	3.0	2.5	1582	$1,375	$0.87	22d	1	1.32mi
2430 W Meadow Blvd Mount Vernon, WA	3.0	2.5	1400	$3,000	$2.14	44d	1	1.33mi
1002 S 12th St Mount Vernon, WA	2.0	1.0	1052	$2,575	$2.45	22d	1	1.37mi

Listing history 23 events

1. 2026-06-19
   days on market $55,000 Active 145 DOM
2. 2026-06-18
   days on market $55,000 Active 144 DOM
3. 2026-06-17
   days on market $55,000 Active 143 DOM
4. 2026-06-16
   days on market $55,000 Active 142 DOM
5. 2026-06-15
   days on market $55,000 Active 141 DOM
6. 2026-06-14
   days on market $55,000 Active 139 DOM
7. 2026-06-13
   days on market $55,000 Active 138 DOM
8. 2026-06-10
   days on market $55,000 Active 136 DOM
9. 2026-06-09
   days on market $55,000 Active 135 DOM
10. 2026-06-08
    days on market $55,000 Active 134 DOM
11. 2026-06-07
    days on market $55,000 Active 133 DOM
12. 2026-06-03
    days on market $55,000 Active 129 DOM
13. 2026-06-02
    days on market $55,000 Active 128 DOM
14. 2026-06-01
    days on market $55,000 Active 127 DOM
15. 2026-05-31
    days on market $55,000 Active 126 DOM
16. 2026-05-30
    days on market $55,000 Active 125 DOM
17. 2026-04-08
    price $60,000
18. 2026-03-09
    status Active
19. 2026-02-27
    status Pending
20. 2026-02-18
    price $65,000
21. 2026-02-12
    price $70,000
22. 2026-01-30
    price $80,000
23. 2026-01-15
    listed $87,000 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: $29,293
• − Mortgage interest: −$3,081
• − Property taxes: −$825
• − Insurance: −$275
• − Repairs & maintenance: −$2,343
• − Management: −$2,343
• − Depreciation: −$1,600
• Taxable income: $18,825
• Est. tax owed @ 24.0%: −$4,518
• After-tax cash flow: $14,062/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): 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

-31.0% since first listed

7 events — show timeline

• 2026-04-08 Price Changed $60,000 NWMLS as Distributed by MLS Grid
• 2026-03-09 Relisted — NWMLS as Distributed by MLS Grid
• 2026-02-27 Pending — NWMLS as Distributed by MLS Grid
• 2026-02-18 Price Changed $65,000 NWMLS as Distributed by MLS Grid
• 2026-02-12 Price Changed $70,000 NWMLS as Distributed by MLS Grid
• 2026-01-30 Price Changed $80,000 NWMLS as Distributed by MLS Grid
• 2026-01-15 Listed $87,000 NWMLS as Distributed by MLS Grid

Property tax history

+3.1%/yr

Latest (2026): $20 · -2.3% YoY. Source: county tax records.