24443 Wicker Rd #6 · Sedro-Woolley, WA 98284

$66,500

2 bd · 1.5 ba · 720 sqft · Manufactured · 15 Days on market

Built 1967 Good condition $92/sqft · 9% below area Est $73k · 9% under

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Why this score? — see what drove the A 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 +11.5/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Schools +4.7/10.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0

Listing remarks

Beautifully maintained home with thoughtful updates throughout. Located in Parkwood Mobile Manor, a 55+ community, this 2-bedroom, 1.5-bath home features an updated kitchen, remodeled bathroom, and new flooring. Stay cozy in the winter with a pellet stove. The home also offers a separate laundry room with ample storage and a spacious deck—perfect for relaxing or entertaining. Buyer subject to park approval.

Key facts

• Remodeled bathroom
• New flooring
• Pellet stove

Tags

• UPDATED KITCHEN
• REMODELED BATHROOM
• NEW FLOORING
• PELLET STOVE
• SEPARATE LAUNDRY ROOM
• AMPLE STORAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $66k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $922 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $66k).
• Recommended offer: $66k (1.5% below list) — sets the bar for market timing.
• Cap rate 22.9% 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 A — 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; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 561 units permitted in Skagit County in 2024 (270 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($460 loan paydown + $7k 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 $19k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($66k) is reasonable based on typical stale-listing flexibility.

Recommended offer $65,502 (1.5% below list)

Questions for the listing agent

1. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 2.63% ✓
• Cap rate: 22.93%
• Cash-on-cash: 59.41%
• DSCR: 3.64
• GRM: 3.2

CMA / ARV

• ARV (median comp): $73,016
• List price: $66,500
• Delta: -4.13%
• Verdict: FAIR
• Comps: 10 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
24443 Wicker Rd #40	0.00mi	2/1.0	720 (0%)	1mo	$34,000	$47	97
24356 Wicker Rd #21	0.26mi	2/1.0	784 (+9%)	11mo	$85,000	$108	62

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: 71.7%
• Equity multiple: 6.10×
• Total profit: $94,959
• Equity at exit: $59,908

10-year hold

• IRR: 65.5%
• Equity multiple: 13.54×
• Total profit: $233,517
• Equity at exit: $129,195

Cash invested: $18,620 (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: 3.2×

Monthly cashflow live

• Estimated rent: $1,749 medium
• Mortgage (P&I): −$349
• Tax est. 1.5%: −$83 /mo · $998/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $922

Break-even live

Break-even rent $582

Max offer price $66,500

Occupancy floor 42%

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: $16,625
• Closing costs: $1,995
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1133 Wicker Rd Sedro Woolley, WA	1.0–2.0	1.0	725	$1,695	$2.34	20d	3	0.34mi
1135 Dean Dr Unit A-5 Sedro-Woolley, WA	1.0	1.0	625	$1,495	$2.39	20d	1	0.37mi
720 Murdock St Unit 206 Sedro-Woolley, WA	1.0	1.0	508	$1,650	$3.25	43d	1	1.04mi

Listing history 17 events

1. 2026-06-19
   days on market $66,500 Active 15 DOM
2. 2026-06-18
   days on market $66,500 Active 14 DOM
3. 2026-06-17
   days on market $66,500 Active 13 DOM
4. 2026-06-16
   days on market $66,500 Active 12 DOM
5. 2026-06-15
   days on market $66,500 Active 11 DOM
6. 2026-06-14
   days on market $66,500 Active 9 DOM
7. 2026-06-13
   days on market $66,500 Active 8 DOM
8. 2026-06-10
   days on market $66,500 Active 6 DOM
9. 2026-06-09
   days on market $66,500 Active 5 DOM
10. 2026-06-08
    days on market $66,500 Active 4 DOM
11. 2026-06-07
    days on market $66,500 Active 3 DOM
12. 2026-06-05
    pricedays on marketlisting id $66,500 Active 1 DOM
13. 2026-06-02
    days on market $70,000 Active 29 DOM
14. 2026-06-01
    days on market $70,000 Active 28 DOM
15. 2026-05-31
    days on market $70,000 Active 27 DOM
16. 2026-05-30
    days on market $70,000 Active 26 DOM
17. 2026-05-04
    listed $70,000 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 3/10 Moderate FEMA zone X · 17% 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: $20,984
• − Mortgage interest: −$3,725
• − Property taxes: −$998
• − Insurance: −$332
• − Repairs & maintenance: −$1,679
• − Management: −$1,679
• − Depreciation: −$1,935
• Taxable income: $10,637
• Est. tax owed @ 24.0%: −$2,553
• After-tax cash flow: $8,510/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 · 30 photos

Good 75/100 Cosmetic rehab

This well-maintained mobile home in a 55+ community offers updated kitchen and bathroom, new flooring, and a cozy pellet stove. It's ready for a new owner to move in and enjoy the serene surroundings.

Value-add opportunities

• Resale Painting the exterior — Fresh paint can enhance curb appeal and property value
• Both Landscaping improvements — A well-maintained yard can attract more buyers and renters
• Resale Upgrading the kitchen appliances — Modern appliances can increase the home's appeal and value
• Resale Upgrading the bathroom fixtures — Updated fixtures can enhance the home's appeal and value

Renovation cost estimate screening

Value-add ROI direction

• Resale Painting the exterior — Fresh paint can enhance curb appeal and property value ↑
• Both Landscaping improvements — A well-maintained yard can attract more buyers and renters ↑
• Resale Upgrading the kitchen appliances — Modern appliances can increase the home's appeal and value ↑
• Resale Upgrading the bathroom fixtures — Updated fixtures can enhance the home's appeal and value ↑

ⓘ 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: 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

• 2026-05-04 Listed $70,000 NWMLS as Distributed by MLS Grid