1120 S 25th St #1 · Mount Vernon, WA 98274

$139,900

3 bd · 2.0 ba · 1,296 sqft · Manufactured

Manufactured home Built 1990 Fair condition $108/sqft · 24% below area Est $185k · 24% under

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Why this score? — see what drove the B 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• Schools +4.0/10.0
• Livability +4.0/5.0
• Appreciation +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Manufactured-home adj. -6.3

Listing remarks

$20,000.00 Seller concession toward repairs; buyer's closing costs; and/or interest rate buy down. Home in desirable all-ages park; 3 bedrooms; 2 bathrooms (hall bath is under construction); 1296 square feet of living space with dining area under construction and lots of boxed materials ready to install, including cabinets and flooring. Heat pump with A/C. Fenced yard with adjacent greenspace. End-unit location for added privacy. Storage building for tools and extras. Close to schools and shopping. Transit options nearby. Space rent covers access to the clubhouse & park maintenance. RV storage available.

Key facts

• Close to schools
• Fenced yard
• Transit options

Tags

• FENCED YARD
• END-UNIT LOCATION
• STORAGE SHED
• CLOSE TO SCHOOLS
• TRANSIT OPTIONS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $140k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $593 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Cap rate 11.4% 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.
• Zoned schools: Jefferson Elementary (455 students, 65% FRL); Mount Baker Middle School (628 students, 73% FRL); Mount Vernon High School (1,977 students, 67% FRL).
• Market conditions: 272 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 117d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $967 of loan paydown is wiped out by about $4k 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 $39k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $139,900

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.41% ✓
• Cap rate: 11.38%
• Cash-on-cash: 18.17%
• DSCR: 1.81
• GRM: 5.9

CMA / ARV

• ARV (median comp): $185,262
• List price: $139,900
• Delta: -24.49%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Show comp detail 12 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 (0%)	11mo	$167,999	$130	91
1120 S 25th St #39	0.01mi	3/2.0	1,401 (+8%)	7mo	$160,000	$114	81
2610 E Section St #88	0.26mi	2/2.0 (-1)	1,243 (-4%)	0mo	$205,000	$165	76
2600 E Division St #42	0.17mi	3/2.0	1,120 (-14%)	3mo	$67,000	$60	67
1120 S 25th St #16	0.01mi	3/2.0	1,469 (+13%)	16mo	$240,000	$163	64
2610 E Section St #15	0.46mi	3/2.0	1,296 (0%)	18mo	$242,500	$187	64
2610 E Section St #97	0.46mi	2/2.0 (-1)	1,388 (+7%)	6mo	$232,000	$167	57
224 Widnor Dr	0.37mi	2/2.0 (-1)	1,162 (-10%)	12mo	$359,900	$310	51
2610 E Section St #46	0.47mi	2/1.5 (-1)	1,418 (+9%)	10mo	$300,000	$212	47
2610 E Section St #22	0.47mi	2/2.0 (-1)	1,428 (+10%)	14mo	$222,000	$155	44
2610 E Section St #8	0.46mi	3/2.0	1,476 (+14%)	17mo	$220,000	$149	41
2610 E Section St #120	0.47mi	3/2.0	1,484 (+14%)	15mo	$180,000	$121	41

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: 9.8%
• Equity multiple: 1.39×
• Total profit: $15,135
• Equity at exit: $20,860

10-year hold

• IRR: 18.9%
• Equity multiple: 2.58×
• Total profit: $61,943
• Equity at exit: $12,096

Cash invested: $39,172 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 6 active · 6 under contract
• Months of supply: 7.2 mo (14%/mo absorbed)
• Median asking: $205,000 ($152/sqft)
• This list price: 17% of active listings are priced below it
• ARV vs active asking: -6.1% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 98274

• Active inventory: 272
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,975 high
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,098/yr
• Insurance: −$58
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$415
• Net cashflow: $593

Break-even live

Break-even rent $1,224

Max offer price $139,900

Occupancy floor 65%

Sensitivity live

Price	-10% $690	-5% $641	+0% $593	+5% $545	+10% $496
Rent	-10% $437	-5% $515	+0% $593	+5% $671	+10% $749
Rate	-1.0pp $664	-0.5pp $629	base $593	+0.5pp $557	+1.0pp $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: $34,975
• Closing costs: $4,197
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2400 Carpenter St Mount Vernon, WA	3.0	1.0	1558	$2,450	$1.57	5d	1	0.31mi
119 N 29th Pl Mount Vernon, WA	3.0	1.0	1098	$2,700	$2.46	139d	1	0.52mi
3301 Park Ln Unit E Mount Vernon, WA	2.0	2.0	1374	$2,350	$1.71	5d	1	0.53mi
1020 S 16th St Unit 10205 Mount Vernon, WA	2.0	1.0	900	$1,950	$2.17	6d	1	0.54mi
1511 Shirley Pl Mount Vernon, WA	2.0	1.0	936	$2,250	$2.40	139d	1	0.63mi
1002 S 12th St Mount Vernon, WA	2.0	1.0	1052	$2,575	$2.45	116d	1	0.79mi
1017 N Viewmont Dr Mount Vernon, WA	3.0	3.5	1608	$2,850	$1.77	6d	1	1.11mi
1412 S 6th St Mount Vernon, WA	3.0	2.0	1224	$2,795	$2.28	4d	1	1.13mi
1115 Nylin Ct Mount Vernon, WA	3.0	1.0	1032	$2,500	$2.42	139d	1	1.15mi
202 Dallas St Mount Vernon, WA	3.0	2.5	1582	$1,375	$0.87	116d	1	1.28mi
1521 N 26th St Mount Vernon, WA	1.0–3.0	1.0	807	$2,145	$2.66	0d	10	1.33mi
3316 E College Way Unit A Mount Vernon, WA	3.0	1.0	916	$2,000	$2.18	139d	1	1.50mi

Property features AI

Finance

• Other: Property condition: fixer
• Financial info: Listing terms: Cash or ConventionalLand lease amount
• HOA & community: ViewMont Mobile Estates (manufactured home park)Park amenities: clubhouse, common area, high-speed internet available, RV parkingPark approved for saleLeased land

Exterior

• Parking: CarportRV parking available in the park
• Utilities: Electric energy sourcePublic water (P.U.D. #One)City sewer (City of Mount Vernon)Puget Sound Energy powerElectric water heaterCable: Comcast/XfinityInternet: Comcast/Xfinity
• Home design: Manufactured home (double wide)Fleetwood make, model 28 x 48 — 3 bedrooms, 2 bathsOne levelNorth-facingEntry level: one
• Construction: Metal/Vinyl construction materialsComposition roofPillar/Post/Pier foundation with tie-downsSkirt: metal and vinylManufactured after 06/15/1976
• Exterior features: Metal/vinyl exteriorPatio/porch/deckLandscapedDead end streetPaved accessHas view

Interior

• Kitchen: DishwasherRefrigeratorStove/Range
• Bedrooms: 3 bedrooms
• Flooring: LaminateVinyl
• Bathrooms: 2 full bathrooms2 bathtubs2 showers
• Heating & cooling: 90%+ high-efficiency heatingForced airHeat pump (heating and cooling)
• Interior features: Water heaterSkylightsVaulted ceilingsCeiling fan(s)Double pane windowsWalk-in closetDining roomEntryKitchen with eating spaceLiving roomUtility roomBath off primaryLandscapedPatio/porch/deck
• Laundry & utility: WasherDryerUtility room

Listing history 50 events

1. 2026-09-21
   days on market $139,900 Active
2. 2026-09-20
   days on market $139,900 Active 119 DOM
3. 2026-09-18
   days on market $139,900 Active 117 DOM
4. 2026-09-17
   days on market $139,900 Active 116 DOM
5. 2026-09-16
   days on market $139,900 Active 115 DOM
6. 2026-09-15
   days on market $139,900 Active 114 DOM
7. 2026-09-14
   days on market $139,900 Active 113 DOM
8. 2026-09-13
   days on market $139,900 Active 112 DOM
9. 2026-09-12
   days on market $139,900 Active 111 DOM
10. 2026-09-11
    pricedays on market $139,900 Active 110 DOM
11. 2026-09-05
    days on market $165,000 Active 104 DOM
12. 2026-09-04
    days on market $165,000 Active 103 DOM
13. 2026-09-03
    days on market $165,000 Active 102 DOM
14. 2026-08-31
    days on market $165,000 Active 99 DOM
15. 2026-08-30
    days on market $165,000 Active 98 DOM
16. 2026-08-29
    days on market $165,000 Active 97 DOM
17. 2026-08-28
    days on market $165,000 Active 96 DOM
18. 2026-08-27
    days on market $165,000 Active 95 DOM
19. 2026-08-25
    days on market $165,000 Active 93 DOM
20. 2026-08-24
    days on market $165,000 Active 92 DOM
21. 2026-08-23
    days on market $165,000 Active 91 DOM
22. 2026-08-22
    days on market $165,000 Active 90 DOM
23. 2026-08-21
    days on market $165,000 Active 89 DOM
24. 2026-08-20
    days on market $165,000 Active 88 DOM
25. 2026-08-19
    days on market $165,000 Active 87 DOM
26. 2026-08-18
    days on market $165,000 Active 86 DOM
27. 2026-08-17
    days on market $165,000 Active 85 DOM
28. 2026-08-16
    days on market $165,000 Active 84 DOM
29. 2026-08-15
    days on market $165,000 Active 83 DOM
30. 2026-08-15
    days on market $165,000 Active 82 DOM
31. 2026-08-13
    days on market $165,000 Active 81 DOM
32. 2026-08-12
    days on market $165,000 Active 80 DOM
33. 2026-08-11
    days on market $165,000 Active 79 DOM
34. 2026-08-10
    days on market $165,000 Active 78 DOM
35. 2026-08-09
    days on market $165,000 Active 77 DOM
36. 2026-08-08
    days on market $165,000 Active 76 DOM
37. 2026-08-07
    days on market $165,000 Active 75 DOM
38. 2026-08-06
    days on market $165,000 Active 74 DOM
39. 2026-08-05
    days on market $165,000 Active 73 DOM
40. 2026-08-04
    days on market $165,000 Active 72 DOM
41. 2026-08-03
    days on market $165,000 Active 71 DOM
42. 2026-07-31
    days on market $165,000 Active 68 DOM
43. 2026-07-30
    price $165,000 Active 67 DOM
44. 2026-06-15
    days on market $135,000 Active 67 DOM
45. 2026-06-14
    days on market $135,000 Active 65 DOM
46. 2026-06-13
    days on market $135,000 Active 64 DOM
47. 2026-06-10
    days on market $135,000 Active 62 DOM
48. 2026-06-09
    days on market $135,000 Active 61 DOM
49. 2026-06-08
    days on market $135,000 Active 60 DOM
50. 2026-06-07
    pricedays on market $135,000 Active 59 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 1/10 Low
• 🌡 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: $23,695
• − Mortgage interest: −$7,837
• − Property taxes: −$2,098
• − Insurance: −$700
• − Repairs & maintenance: −$1,896
• − Management: −$1,896
• − Depreciation: −$4,070
• Taxable income: $5,199
• Est. tax owed @ 24.0%: −$1,248
• After-tax cash flow: $5,869/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 · 12 photos

Fair 45/100 Moderate rehab Est. rehab $32,400–$58,320 screening

The home is in fair condition with some minor repairs and maintenance needed. Upgrading the living room carpet, painting the walls, and replacing the kitchen cabinets and countertops can significantly increase its resale and rental value.

Repairs flagged

• Minor Living room carpet — Worn and could be replaced for a fresh look.
• Minor Kitchen cabinets — Some wear and tear visible, could be refinished or replaced for a fresh look.
• Minor Living room walls — Yellow walls could be painted for a fresh look.
• Minor Kitchen countertops — Some wear and tear visible, could be refinished or replaced for a fresh look.

Value-add opportunities

• Resale Painting living room walls — Fresh paint can make a significant difference in the home's appearance and value. ↑
• Resale Replacing living room carpet — Fresh carpet can make a significant difference in the home's appearance and value. ↑
• Resale Refinishing or replacing kitchen cabinets — Fresh cabinets can make a significant difference in the home's appearance and value. ↑
• Resale Refinishing or replacing kitchen countertops — Fresh countertops can make a significant difference in the home's appearance and value. ↑
• Both Landscaping and curb appeal — A well-maintained yard and curb appeal can increase both resale and rental value. ↑
• Both Upgrading HVAC system — A new or upgraded HVAC system can improve comfort and energy efficiency, increasing both resale and rental value. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

Zoned Schools

Elementary Little Mountain Elementary Middle Mount Baker Middle School High Mount Vernon High School

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

B Composite livability gradescore 79/100

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 · 131,498 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: 11% of renters

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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%

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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%

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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

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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

Property features AI

Finance

• Other: Property condition: fixer
• Financial info: Listing terms: Cash or ConventionalLand lease amount
• HOA & community: ViewMont Mobile Estates (manufactured home park)Park amenities: clubhouse, common area, high-speed internet available, RV parkingPark approved for saleLeased land

Exterior

• Parking: CarportRV parking available in the park
• Utilities: Electric energy sourcePublic water (P.U.D. #One)City sewer (City of Mount Vernon)Puget Sound Energy powerElectric water heaterCable: Comcast/XfinityInternet: Comcast/Xfinity
• Home design: Manufactured home (double wide)Fleetwood make, model 28 x 48 — 3 bedrooms, 2 bathsOne levelNorth-facingEntry level: one
• Construction: Metal/Vinyl construction materialsComposition roofPillar/Post/Pier foundation with tie-downsSkirt: metal and vinylManufactured after 06/15/1976
• Exterior features: Metal/vinyl exteriorPatio/porch/deckLandscapedDead end streetPaved accessHas view

Interior

• Kitchen: DishwasherRefrigeratorStove/Range
• Bedrooms: 3 bedrooms
• Flooring: LaminateVinyl
• Bathrooms: 2 full bathrooms2 bathtubs2 showers
• Heating & cooling: 90%+ high-efficiency heatingForced airHeat pump (heating and cooling)
• Interior features: Water heaterSkylightsVaulted ceilingsCeiling fan(s)Double pane windowsWalk-in closetDining roomEntryKitchen with eating spaceLiving roomUtility roomBath off primaryLandscapedPatio/porch/deck
• Laundry & utility: WasherDryerUtility room