1120 S 25th St #25 · Mount Vernon, WA 98274

$187,200

3 bd · 2.0 ba · 1,176 sqft · Manufactured · 7 Days on market

Built 2026 Excellent condition Est $166k · 13% 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 +28.3/30.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• Condition / age +4.8/5.0
• Schools +4.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• ARV discount +1.7/15.0
• Appreciation +0.0/10.0

Listing remarks

Nestled in the highly sought-after, all-age community at Viewmont Mobile Estates, this beautiful new Marlette home offers modern comfort. The spacious, light-filled layout features 3 bedrooms and 2 bathrooms, highlighted by an open contemporary design. The primary suite includes a generous walk-in closet and a private en suite with dual sinks for added convenience. The stunning kitchen stands out with its large island, elegant tile backsplash, and abundant hardwood cabinetry, complemented by brand-new appliances throughout. Step outside to a yard to create a garden or design a cozy patio area. A prime location close to shopping, schools, parks, and easy freeway access, this residence delive

Key facts

• Private en suite
• Walk-in closet
• Large island

Tags

• WALK-IN CLOSET
• PRIVATE EN SUITE
• LARGE ISLAND
• TILE BACKSPLASH
• HARDWOOD CABINETRY
• BRAND-NEW APPLIANCES

Property features AI

Finance

• Other: Calculated living area: 1,176; MLS square footage source: Floor plan
• Financial info: Acceptable financing: Cash, Conventional, FHA
• HOA & community: Land lease: $1,100

Exterior

• Utilities: Public water (Skagit PUD); Sewer provided by City of Mount Vernon; Power by PSE; Electric
• Home design: Manufactured double-wide home (Marlette model 55TPO24523PH26); One level
• Construction: Composition roof; Manufactured after 06/15/1976; Manufactured house, double wide
• Exterior features: Located in Viewmont Mobile Estates (mobile home park approved for sale)

Interior

• Kitchen: Dishwasher; Garbage disposal; Refrigerator; Stove/Range
• Bedrooms: 3 bedrooms
• Flooring: Vinyl
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Forced air heating; Electric energy source
• Interior features: Dishwasher; Garbage disposal; Refrigerator; Stove/Range; Vinyl flooring; Double pane windows; Walk-in closet; Forced air heating
• Laundry & utility: Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $187k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $601 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $187k).
• Cap rate 10.1% 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: 171 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 70% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 $52k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $187,200

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.28% ✓
• Cap rate: 10.14%
• Cash-on-cash: 13.75%
• DSCR: 1.61
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $165,816
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1120 S 25th St #27	0.01mi	3/2.0	1,296 (+10%)	8mo	$167,999	$130	76
224 Widnor Dr	0.37mi	2/2.0 (-1)	1,162 (-1%)	9mo	$359,900	$310	68
1120 S 25th St #33	0.01mi	3/2.0	1,296 (+10%)	20mo	$168,000	$130	66
1120 S 25th St #26	0.01mi	3/2.0	1,339 (+14%)	17mo	$159,000	$119	62
2610 E Section St #2	0.30mi	2/2.0 (-1)	1,136 (-3%)	20mo	$160,000	$141	59
2610 E Section St #80	0.46mi	2/2.0 (-1)	1,160 (-1%)	19mo	$150,000	$129	55
2610 E Section St #15	0.46mi	3/2.0	1,296 (+10%)	15mo	$242,500	$187	49
2610 E Section St #7	0.47mi	2/2.0 (-1)	1,058 (-10%)	14mo	$215,000	$203	44
2610 E Section St #17	0.47mi	2/2.0 (-1)	1,265 (+8%)	21mo	$176,900	$140	43
319 Widnor Dr	0.35mi	3/2.0	1,344 (+14%)	24mo	$390,000	$290	40

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: 3.9%
• Equity multiple: 1.15×
• Total profit: $7,960
• Equity at exit: $27,912

10-year hold

• IRR: 13.5%
• Equity multiple: 2.07×
• Total profit: $56,341
• Equity at exit: $16,186

Cash invested: $52,416 (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: 6.5×

Monthly cashflow live

• Estimated rent: $2,398 high
• Mortgage (P&I): −$982
• Tax est. 1.5%: −$234 /mo · $2,808/yr
• Insurance: −$78
• HOA: −$0
• Vacancy / Maint / Mgmt: −$504
• Net cashflow: $601

Break-even live

Break-even rent $1,638

Max offer price $187,200

Occupancy floor 70%

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: $46,800
• Closing costs: $5,616
• Reserves months: —
• Total cash needed: —

Rent comps 10 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	0.52mi
130 Stanford Dr Unit C Mount Vernon, WA	2.0	1.0	800	$1,595	$1.99	43d	1	0.58mi
1511 Shirley Pl Mount Vernon, WA	2.0	1.0	936	$2,250	$2.40	43d	1	0.63mi
1002 S 12th St Mount Vernon, WA	2.0	1.0	1052	$2,575	$2.45	20d	1	0.79mi
1221 S 12th St Mount Vernon, WA	2.0	1.0	833	$2,195	$2.64	43d	1	0.83mi
1115 Nylin Ct Mount Vernon, WA	3.0	1.0	1032	$2,500	$2.42	43d	1	1.15mi
1521 N 26th St Mount Vernon, WA	1.0–3.0	1.0	807	$1,995	$2.47	20d	8	1.33mi
1516 N 19th St Mount Vernon, WA	2.0	1.0	850	$1,795	$2.11	20d	1	1.45mi
115 E Cedar St Mount Vernon, WA	2.0	1.0	850	$1,600	$1.88	43d	1	1.47mi
3316 E College Way Unit A Mount Vernon, WA	3.0	1.0	916	$2,000	$2.18	43d	1	1.50mi

Listing history 7 events

1. 2026-06-19
   days on market $187,200 Active 7 DOM
2. 2026-06-18
   days on market $187,200 Active 6 DOM
3. 2026-06-17
   days on market $187,200 Active 5 DOM
4. 2026-06-16
   days on market $187,200 Active 4 DOM
5. 2026-06-15
   days on market $187,200 Active 3 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $187,200 Active 1 DOM

ⓘ 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 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: $28,775
• − Mortgage interest: −$10,486
• − Property taxes: −$2,808
• − Insurance: −$936
• − Repairs & maintenance: −$2,302
• − Management: −$2,302
• − Depreciation: −$5,446
• Taxable income: $4,495
• Est. tax owed @ 24.0%: −$1,079
• After-tax cash flow: $6,129/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 · 13 photos

Excellent 95/100 None rehab

This home is in excellent condition with modern finishes and a well-maintained exterior. It is move-in ready and would benefit from a fresh coat of paint and landscaping improvements to further enhance its appeal.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics, making the home more attractive to potential buyers and renters.
• Both Landscaping improvements — Enhancing the landscaping can increase the home's curb appeal and make it more inviting for potential buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics, making the home more attractive to potential buyers and renters. ↑
• Both Landscaping improvements — Enhancing the landscaping can increase the home's curb appeal and make it more inviting for potential buyers and renters. ↑

ⓘ 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): 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

1 event — show timeline

• 2026-06-12 Listed $187,200 NWMLS as Distributed by MLS Grid