2600 E Division St #90 · Mount Vernon, WA 98274

$139,000

3 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 36 Days on market

Built 1979 $121/sqft · 13% above area Est $122k · 13% over ↓ 10% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.4/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this spacious double-wide home located in the all-ages Colonial Mobile Home Park. Featuring 3 bedrooms and 2 bathrooms, this home offers a generous and functional layout with plenty of comfortable living space. Conveniently located near schools, grocery stores, and the hospital, it provides both accessibility and everyday ease. Don’t miss this opportunity to own an affordable, well-sized home in a great location!

Key facts

• Built 1979
• Listed 35 days

Property features AI

Finance

• Other: Calculated building area 1,152 (source: Realist)
• Financial info: Listing terms: Cash
• HOA & community: Located in a park with a land lease ($890/month)

Exterior

• Parking: Carport
• Security: Security gate
• Utilities: Electric energy source; Public water (Skagit PUD); Power provided by PSE
• Home design: Manufactured double-wide home (1979 Kozy 48x24); One level; Manufactured after 6/15/1976; Mobile home remains
• Construction: Metal/vinyl construction materials; Metal roof; Pillar/post/pier foundation
• Exterior features: Metal/vinyl exterior; Carport; Located in Colonial Mobile Home Park; Manufactured home park amenities include RV parking and security gate

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Interior features: Security gate

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $139k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Recommended offer: $135k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.8% 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; 11 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 64% 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 ($96k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $961 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 ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($135k) is reasonable based on typical stale-listing flexibility.

Recommended offer $134,830 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.74% ✓
• Cap rate: 15.83%
• Cash-on-cash: 34.05%
• DSCR: 2.52
• GRM: 4.8

CMA / ARV

• ARV (median comp): $122,497
• List price: $139,000
• Delta: 13.47%
• Verdict: OVERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
224 Widnor Dr	0.37mi	2/2.0 (-1)	1,162 (+1%)	9mo	$359,900	$310	69
1120 S 25th St #27	0.17mi	3/2.0	1,296 (+12%)	8mo	$167,999	$130	65
2610 E Section St #2	0.43mi	2/2.0 (-1)	1,136 (-1%)	20mo	$160,000	$141	56
1120 S 25th St #33	0.17mi	3/2.0	1,296 (+12%)	20mo	$168,000	$130	54
2610 E Section St #80	0.60mi	2/2.0 (-1)	1,160 (+1%)	19mo	$150,000	$129	50
2610 E Section St #7	0.61mi	2/2.0 (-1)	1,058 (-8%)	14mo	$215,000	$203	41
2610 E Section St #15	0.60mi	3/2.0	1,296 (+12%)	15mo	$242,500	$187	39
2610 E Section St #17	0.61mi	2/2.0 (-1)	1,265 (+10%)	21mo	$176,900	$140	33

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: 29.4%
• Equity multiple: 2.23×
• Total profit: $47,766
• Equity at exit: $20,725

10-year hold

• IRR: 36.7%
• Equity multiple: 4.39×
• Total profit: $131,950
• Equity at exit: $12,018

Cash invested: $38,920 (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: 4.8×

Monthly cashflow live

• Estimated rent: $2,424 high
• Mortgage (P&I): −$729
• Tax from tax record: −$24 /mo · $283/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$509
• Net cashflow: $1,104

Break-even live

Break-even rent $1,026

Max offer price $139,000

Occupancy floor 49%

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 11 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	0.35mi
130 Stanford Dr Unit C Mount Vernon, WA	2.0	1.0	800	$1,595	$1.99	43d	1	0.54mi
1511 Shirley Pl Mount Vernon, WA	2.0	1.0	936	$2,250	$2.40	43d	1	0.75mi
1002 S 12th St Mount Vernon, WA	2.0	1.0	1052	$2,575	$2.45	20d	1	0.89mi
1221 S 12th St Mount Vernon, WA	2.0	1.0	833	$2,195	$2.64	43d	1	0.95mi
1115 Nylin Ct Mount Vernon, WA	3.0	1.0	1032	$2,500	$2.42	43d	1	1.06mi
1521 N 26th St Mount Vernon, WA	1.0–3.0	1.0	807	$1,995	$2.47	20d	8	1.19mi
3316 E College Way Unit A Mount Vernon, WA	3.0	1.0	916	$2,000	$2.18	43d	1	1.33mi
1516 N 19th St Mount Vernon, WA	2.0	1.0	850	$1,795	$2.11	20d	1	1.34mi
1508 N Waugh Rd Apt B Mount Vernon, WA	2.0	1.0	1021	$2,300	$2.25	20d	1	1.37mi
115 E Cedar St Mount Vernon, WA	2.0	1.0	850	$1,600	$1.88	43d	1	1.47mi

Listing history 18 events

1. 2026-06-19
   days on market $139,000 Active 36 DOM
2. 2026-06-18
   days on market $139,000 Active 35 DOM
3. 2026-06-17
   days on market $139,000 Active 34 DOM
4. 2026-06-16
   days on market $139,000 Active 33 DOM
5. 2026-06-15
   days on market $139,000 Active 32 DOM
6. 2026-06-14
   days on market $139,000 Active 30 DOM
7. 2026-06-13
   days on market $139,000 Active 29 DOM
8. 2026-06-10
   days on market $139,000 Active 27 DOM
9. 2026-06-09
   days on market $139,000 Active 26 DOM
10. 2026-06-08
    days on market $139,000 Active 25 DOM
11. 2026-06-07
    days on market $139,000 Active 24 DOM
12. 2026-06-03
    days on market $139,000 Active 20 DOM
13. 2026-06-03
    price $139,000 Active 19 DOM
14. 2026-06-02
    days on market $155,000 Active 19 DOM
15. 2026-06-01
    days on market $155,000 Active 18 DOM
16. 2026-05-31
    days on market $155,000 Active 17 DOM
17. 2026-05-30
    days on market $155,000 Active 16 DOM
18. 2026-05-14
    listed $155,000 Active

ⓘ 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: $283 · $24/mo
• Projected year-2 tax: $1,362 · $114/mo
• Expected delta: +$1,079/yr (+$90/mo · 380.7%)

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

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: $29,088
• − Mortgage interest: −$7,786
• − Property taxes: −$283
• − Insurance: −$695
• − Repairs & maintenance: −$2,327
• − Management: −$2,327
• − Depreciation: −$4,044
• Taxable income: $11,626
• Est. tax owed @ 24.0%: −$2,790
• After-tax cash flow: $10,464/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: 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

-10.3% since first listed

2 events — show timeline

• 2026-06-02 Price Changed $139,000 NWMLS as Distributed by MLS Grid
• 2026-05-14 Listed $155,000 NWMLS as Distributed by MLS Grid

Property tax history

-0.1%/yr

Latest (2026): $283 · +11.2% YoY. Source: county tax records.