24681 Fair Ln · Sedro-Woolley, WA 98284

$269,000

3 bd · 2.5 ba · 1,620 sqft · Manufactured public records · 2 Days on market

Built 2006 1,620 sqft lot Est $225k · 19% over

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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).

• Cash flow +17.3/30.0
• Appreciation +10.0/10.0
• DSCR +5.4/10.0
• Schools +4.7/10.0
• 1% rule +3.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks

Unique property! Purchase just the home, just the parcel, or BOTH! (See listing #2539917 for lot info, price is 198k. ) Be a landlord if you own the lot, purchase the home by itself, without park rules and no age restriction, or purchase together to give you ownership of both. This well-kept home was built in 2007 and exterior was repainted four years ago. A nice size at 1,620 sq ft, there are three bedrooms, one full and one 3/4 bath. Open concept living with kitchen, dining and family room and these areas have been repainted along with the 3/4 bath, Kitchen boasts plenty of storage, a bar/buffet area, walk-in pantry, pull-out drawers and all kitchen appliances are just two years old.

Key facts

• Large corner lot
• Bar buffet area
• Walk-in pantry

Tags

• FULLY FENCED BACKYARD
• COUNTER HEIGHT PLANTING GARDEN
• WALK-IN PANTRY
• BAR BUFFET AREA
• AMPLE ROOM FOR TWO CARS
• LARGE CORNER LOT

Property features AI

Finance

• Other: Manufactured home park amenities include high-speed internet availability and RV parking
• Financial info: Listing terms: Cash, Conventional, FHA
• HOA & community: Pets allowed; Land lease: $550

Exterior

• Parking: Individual garage; Has garage; RV parking available in park
• Utilities: Electric energy source; Electric water heater; Community water (PUD); Power by PSE; Cable connected (Comcast); Internet connected (Comcast)
• Home design: Manufactured home (double wide); Skyline Kensington model (Kensington Floor plan 4146); One level; East-facing entry; Good condition; Entry and family room included
• Construction: Wood construction; Composition roof; Block skirting; Slab foundation; Manufactured after 06/15/1976
• Exterior features: Wood products siding; Patio/porch/deck; Landscaped; Corner lot; Dead-end street; Paved; Sidewalk; Has view

Interior

• Kitchen: Dishwasher; Garbage disposal; Microwave; Refrigerator; Stove/Range; Kitchen with eating space
• Bedrooms: 3 bedrooms
• Flooring: Laminate; Carpet
• Bathrooms: 1 full bath; 1 three-quarter bath; 1 bathtub; 2 showers
• Heating & cooling: Forced air heating; Heat pump; Forced air cooling; Heat pump cooling
• Interior features: Water heater; Skylights; Vaulted ceilings; Jetted/soaking tub; Walk-in closet; Walk-in pantry; Ceiling fan(s)
• Laundry & utility: Washer; Dryer; Utility room (water heater located here)

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath manufactured listed at $269k.

Deal economics

• At list price, monthly cash flow is $198 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $233k (13.3% below list).
• Recommended offer: $233k (13.3% below list) — sets the bar for 1% rule.
• Cap rate 7.2% 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.
• Zoned schools: Sedro Woolley Senior High School (1,276 students, 49% FRL) — zoned schools at 49% FRL track the district average.
• Market conditions: 226 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% 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 30% of the median local income ($93k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $29k of equity ($2k loan paydown + $27k appreciation (10.0% local appreciation)).
• Skagit County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $75k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $233,340 (13.3% below list)

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. 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?
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: 0.87% ✗
• Cap rate: 7.18%
• Cash-on-cash: 3.16%
• DSCR: 1.14
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $225,180
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
928 Carriage Ct #62	0.27mi	3/2.0	1,566 (-3%)	6mo	$200,000	$128	75
885 Carriage Ct	0.35mi	3/2.0	1,568 (-3%)	6mo	$240,000	$153	72
882 Carriage Ct	0.30mi	3/2.0	1,620 (0%)	16mo	$215,000	$133	70
896 Carriage Ct #49	0.32mi	3/2.0	1,782 (+10%)	12mo	$247,500	$139	56
878 Carriage Ct #40	0.32mi	2/2.0 (-1)	1,450 (-10%)	8mo	$249,000	$172	54
869 Carriage Ct #28	0.41mi	2/2.0 (-1)	1,714 (+6%)	18mo	$185,000	$108	49
24919 Hoehn Rd #73	0.58mi	3/2.0	1,568 (-3%)	21mo	$149,900	$96	48
504 Cascade Vista Dr	0.56mi	4/2.0 (+1)	1,782 (+10%)	20mo	$549,500	$308	34

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: 26.5%
• Equity multiple: 3.11×
• Total profit: $159,048
• Equity at exit: $242,337

10-year hold

• IRR: 23.2%
• Equity multiple: 7.08×
• Total profit: $458,239
• Equity at exit: $522,608

Cash invested: $75,320 (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: 9.6×

Monthly cashflow live

• Estimated rent: $2,333 medium
• Mortgage (P&I): −$1,411
• Tax from tax record: −$122 /mo · $1,466/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$490
• Net cashflow: $198

Break-even live

Break-even rent $2,082

Max offer price $269,000

Occupancy floor 86%

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: $67,250
• Closing costs: $8,070
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1129 State St Unit 11292 Sedro-Woolley, WA	2.0	1.0	1054	$1,850	$1.76	43d	1	0.76mi
320 Birchwood Ln Sedro-Woolley, WA	3.0	2.5	1400	$2,500	$1.79	43d	1	1.13mi
408 Warner St Unit 408 Sedro-Woolley, WA	2.0	1.0	1636	$2,050	$1.25	43d	1	1.28mi
517 Alexander St Sedro Woolley, WA	3.0	2.5	1787	$2,495	$1.40	43d	1	1.49mi

Listing history 3 events

1. 2026-06-19
   days on market $269,000 Active 2 DOM
2. 2026-06-17
   remarks 699-char remark
3. 2026-06-17
   listed $269,000 Active 1 DOM

ⓘ 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: $1,466 · $122/mo
• Projected year-2 tax: $2,636 · $220/mo
• Expected delta: +$1,170/yr (+$98/mo · 79.8%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X · 67% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 2/10 Low 8 d/yr ≥83°F today · 21 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: $28,001
• − Mortgage interest: −$15,068
• − Property taxes: −$1,466
• − Insurance: −$1,345
• − Repairs & maintenance: −$2,240
• − Management: −$2,240
• − Depreciation: −$7,825
• Taxable loss: −$2,184
• Est. tax savings @ 24.0%: +$524
• After-tax cash flow: $2,906/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

• 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

• 2026-06-17 Listed $269,000 NWMLS as Distributed by MLS Grid

Property tax history

+1.2%/yr

Latest (2026): $1,466 · -17.8% YoY. Source: county tax records.