107 Talcott St · Sedro-Woolley, WA 98284

$599,500

4 bd · 2.0 ba · 2,112 sqft · MultiFamily · 1 Days on market

Built 1996 9,583 sqft lot Est $661k · 9% under

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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).

• ARV discount +11.7/15.0
• Appreciation +10.0/10.0
• Cash flow +7.2/30.0
• Schools +4.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• DSCR +1.4/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Outstanding investment opportunity in the heart of Sedro-Woolley! This turn-key residential duplex located at 107-109 Talcott Street features a spacious 2,112 square foot total layout, built in 1996. Positioned on a generous 9,583 square foot lot, the property offers comfortable 2-bedroom, 1-bathroom configurations on each side ideal for consistent rental demand. The low-maintenance exterior features a durable concrete foundation and composition roofing. Situated in the highly convenient South Town residential neighborhood, the property offers fantastic walkability—just blocks from local parks, downtown dining, and under a quarter-mile from Sedro-Woolley High School. Perfect for a sav

Key facts

• Composition roofing
• Concrete foundation
• Local parks

Tags

• TURN-KEY RESIDENTIAL DUPLEX
• LOW-MAINTENANCE EXTERIOR
• CONCRETE FOUNDATION
• COMPOSITION ROOFING
• FANTASTIC WALKABILITY
• LOCAL PARKS

Property features AI

Finance

• Other: Property possible uses: Multi-family, Residential
• Financial info: Listing terms: Cash or Conventional; Total expenses reported: $2,903

Exterior

• Parking: 2-car garage; 2 covered spaces; 4 uncovered parking spaces; RV parking available
• Security: Fully fenced property
• Utilities: Electric service; Public water (Skagit PUD); Sewer connected (City of Sedro-Woolley); Cable: Xfinity; Internet: Xfinity
• Home design: Duplex (residential income, multi-family); Two stories; Has a view; Style code: Duplex
• Construction: Wood construction; Composition roof; Poured concrete foundation; Built as a duplex
• Exterior features: Fully fenced; Outbuildings; RV parking; Wood exterior/wood products; Paved lot

Interior

• Kitchen: Each unit includes a range/oven; Each unit includes a refrigerator; Each unit includes a dishwasher
• Bedrooms: Two 2-bedroom units
• Flooring: Vinyl; Carpet
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Vinyl and carpet flooring
• Laundry & utility: Washer and dryer in one unit; washer/dryer not included in the other unit

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $600k.

Deal economics

• At list price, monthly cash flow is $-827 ($-10k/yr) — negative. Per door: $-414/mo.
• To cash-flow at today's rent, offer at most $480k (20.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $420k (30.0% below list).
• Recommended offer: $420k (30.0% below list) — sets the bar for 1% rule.
• Cap rate 4.6% vs local median 2.4% in Sedro-Woolley — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Sedro-Woolley School District (suburban): math 47% / reading 58% proficiency, ranked #117 of 291 in WA (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 226 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 561 units permitted in Skagit County in 2024 (270 in 5+ unit buildings).
• At $4,197/mo this rent would consume 54% of the median local household income ($93k/yr) (locally 502% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $64k of equity ($4k loan paydown + $60k 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 ~$103k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $419,700 (30.0% 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. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.70% ✗
• Cap rate: 4.64%
• Cash-on-cash: -5.91%
• DSCR: 0.74
• GRM: 11.9

CMA / ARV

• ARV (on-the-fly): $661,056
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
513 Marshall St	0.58mi	5/4.0 (+1)	1,885 (-11%)	2mo	$590,000	$313	40

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: 20.1%
• Equity multiple: 2.63×
• Total profit: $273,871
• Equity at exit: $540,077

10-year hold

• IRR: 18.4%
• Equity multiple: 6.05×
• Total profit: $848,070
• Equity at exit: $1,164,697

Cash invested: $167,860 (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 98284

• Home prices YoY: 3.5%
• Active inventory: 226
• Price-to-rent: 23.8×

Monthly cashflow live

• Estimated rent: $4,197 high
• Mortgage (P&I): −$3,144
• Tax est. 1.5%: −$749 /mo · $8,992/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$881
• Net cashflow: $-827

Break-even live

Break-even rent $5,244

Max offer price $479,777

Occupancy floor —

Sensitivity live

Price	-10% $-413	-5% $-620	+0% $-827	+5% $-1,035	+10% $-1,242
Rent	-10% $-1,159	-5% $-993	+0% $-827	+5% $-662	+10% $-496
Rate	-1.0pp $-525	-0.5pp $-675	base $-827	+0.5pp $-983	+1.0pp $-1,141

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,198
Total (2 units)			$4,197

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: $149,875
• Closing costs: $17,985
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
517 Alexander St Sedro Woolley, WA	3.0	2.5	1787	$2,495	$1.40	44d	1	0.49mi
320 Birchwood Ln Sedro-Woolley, WA	3.0	2.5	1400	$2,500	$1.79	44d	1	0.80mi

Listing history 2 events

1. 2026-06-18
   remarks 693-char remark
2. 2026-06-18
   listed $599,500 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 5/10 Major FEMA zone X · 24% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥83°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 9 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $50,364
• − Mortgage interest: −$33,581
• − Property taxes: −$8,992
• − Insurance: −$2,998
• − Repairs & maintenance: −$4,029
• − Management: −$4,029
• − Depreciation: −$17,440
• Taxable loss: −$20,706
• Est. tax savings @ 24.0%: +$4,969
• After-tax cash flow: $-4,959/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: Sedro-Woolley School District
• NCES district ID: 5307740
• Math proficiency: 47% ▼ -2.00%
• Reading proficiency: 58% ▬ 0.00%
• Median HH income: $57,385
• Composite: 47.45/100
• National rank: #5005
• State rank: #117 of 291 in WA

Livability — Sedro-Woolley

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Sedro-Woolley, WA
• County: Skagit County · 118,108 people
• Metro: Mount Vernon-Anacortes, WA
• Population (ZIP): 27,835
• Household income: $93,006
• Rent vs Own: 27.0% rent · 73.0% own
• Severe rent burden: 502.0

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: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 14% Two or more races 8% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 12% Puerto Rican 1%
• Common ancestry: Portuguese 6% Slovak 4% Italian 3%
• Foreign-born: 5% · Canada, China
• Languages at home: 88% English-only · Spanish 10% German/W. Germanic 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: ▲ 43.42%
• Current HPI: 1280.83
• 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

• 2026-06-18 Listed $599,500 NWMLS as Distributed by MLS Grid