2600 E Division St · Mount Vernon, WA 98274

$115,000

2 bd · 1.0 ba · 784 sqft · Manufactured public records · 19 Days on market

Built 1978 Est $99k · 16% over

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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 +0.1/15.0
• Appreciation +0.0/10.0

Listing remarks

Beautifully remodeled & move-in ready, this home in an all-ages Mount Vernon park offers comfortable living in a convenient location close to shopping, dining, parks & everyday amenities. Nearly every inch of the home has been updated, creating a fresh, modern feel while still maintaining warmth & character throughout. Enjoy cozy evenings by the wood stove during the cooler months, while forced air heat provides efficient year-round comfort. The open, inviting layout offers functional living spaces filled w/ natural light, making the home feel both spacious & welcoming. Outside, you’ll find a covered carport plus a storage shed for tools, hobbies & extra

Key facts

• Move-in ready
• Remodeled
• Wood stove

Tags

• REMODELED
• MOVE-IN READY
• WOOD STOVE
• FORCED AIR HEAT
• OPEN LAYOUT
• COVERED CARPORT

Property features AI

Finance

• Other: Buyer brokerage compensation: 2%
• Financial info: Land lease: $840/month; Listing terms: Cash or Conventional
• HOA & community: Located in Colonial Mobile Park (approximately 150 homes); Park approved for sale

Exterior

• Parking: Carport; RV parking in park
• Security: Security gate (park)
• Utilities: Electric energy source; Public water (Skagit PUD); Electric water heater; Park sewer; Power by PSE; Cable by Comcast; Internet by Xfinity
• Home design: Manufactured single-wide home (Continental); Updated/remodeled condition; One level; Has a view; Mobile home remains on site
• Construction: Metal/vinyl construction; Flat roof; Pillar/post/pier foundation; Manufactured after 6/15/1976
• Exterior features: Metal/vinyl exterior; Patio/porch/deck; Paved lot

Interior

• Kitchen: Refrigerator; Stove/Range; Kitchen with eating space
• Bedrooms: 2 bedrooms
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom; 1 shower
• Heating & cooling: Stove/free-standing heating; No cooling
• Interior features: Water heater in closet; Wood-burning fireplace
• Laundry & utility: Water heater (electric)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $115k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $113k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.9% 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; 12 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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 $795 of loan paydown is wiped out by about $3k 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 $32k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.

Recommended offer $113,275 (1.5% below list)

Questions for the listing agent

1. Built in 1978 — 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: 1.86% ✓
• Cap rate: 16.90%
• Cash-on-cash: 37.88%
• DSCR: 2.69
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $98,784
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2600 E Division St #43	0.00mi	2/1.0	784 (0%)	10mo	$99,000	$126	92

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: 33.9%
• Equity multiple: 2.43×
• Total profit: $46,059
• Equity at exit: $17,147

10-year hold

• IRR: 40.8%
• Equity multiple: 4.83×
• Total profit: $123,299
• Equity at exit: $9,943

Cash invested: $32,200 (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: 4.5×

Monthly cashflow live

• Estimated rent: $2,143 high
• Mortgage (P&I): −$603
• Tax from tax record: −$26 /mo · $310/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$450
• Net cashflow: $1,016

Break-even live

Break-even rent $857

Max offer price $115,000

Occupancy floor 48%

Sensitivity live

Price	-10% $1,081	-5% $1,049	+0% $1,016	+5% $984	+10% $951
Rent	-10% $847	-5% $932	+0% $1,016	+5% $1,101	+10% $1,186
Rate	-1.0pp $1,074	-0.5pp $1,046	base $1,016	+0.5pp $987	+1.0pp $956

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 12 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	44d	1	0.35mi
130 Stanford Dr Unit C Mount Vernon, WA	2.0	1.0	800	$1,595	$1.99	44d	1	0.54mi
1511 Shirley Pl Mount Vernon, WA	2.0	1.0	936	$2,250	$2.40	44d	1	0.75mi
1002 S 12th St Mount Vernon, WA	2.0	1.0	1052	$2,575	$2.45	21d	1	0.89mi
1221 S 12th St Mount Vernon, WA	2.0	1.0	833	$2,195	$2.64	44d	1	0.95mi
1011 E Division St Unit 103 Mount Vernon, WA	1.0	1.0	800	$1,250	$1.56	44d	1	1.02mi
1115 Nylin Ct Mount Vernon, WA	3.0	1.0	1032	$2,500	$2.42	44d	1	1.06mi
1521 N 26th St Mount Vernon, WA	1.0–3.0	1.0	807	$1,755	$2.17	21d	8	1.19mi
3316 E College Way Unit A Mount Vernon, WA	3.0	1.0	916	$2,000	$2.18	44d	1	1.33mi
1516 N 19th St Mount Vernon, WA	2.0	1.0	850	$1,795	$2.11	21d	1	1.34mi
1508 N Waugh Rd Apt B Mount Vernon, WA	2.0	1.0	1021	$2,300	$2.25	21d	1	1.37mi
115 E Cedar St Mount Vernon, WA	2.0	1.0	850	$1,600	$1.88	44d	1	1.47mi

Listing history 13 events

1. 2026-06-14
   days on market $115,000 Active 19 DOM
2. 2026-06-13
   days on market $115,000 Active 18 DOM
3. 2026-06-10
   days on market $115,000 Active 16 DOM
4. 2026-06-09
   days on market $115,000 Active 15 DOM
5. 2026-06-09
   price $115,000 Active 14 DOM
6. 2026-06-08
   days on market $125,000 Active 14 DOM
7. 2026-06-07
   days on market $125,000 Active 13 DOM
8. 2026-06-03
   days on market $125,000 Active 9 DOM
9. 2026-06-02
   days on market $125,000 Active 8 DOM
10. 2026-06-01
    days on market $125,000 Active 7 DOM
11. 2026-05-31
    days on market $125,000 Active 6 DOM
12. 2026-05-30
    days on market $125,000 Active 5 DOM
13. 2026-05-25
    listed $125,000 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: $310 · $26/mo
• Projected year-2 tax: $1,127 · $94/mo
• Expected delta: +$817/yr (+$68/mo · 263.4%)

ⓘ 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: $25,720
• − Mortgage interest: −$6,442
• − Property taxes: −$310
• − Insurance: −$575
• − Repairs & maintenance: −$2,058
• − Management: −$2,058
• − Depreciation: −$3,345
• Taxable income: $10,932
• Est. tax owed @ 24.0%: −$2,624
• After-tax cash flow: $9,573/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

1 event — show timeline

• 2026-05-25 Listed $125,000 NWMLS as Distributed by MLS Grid

Property tax history

-0.3%/yr

Latest (2026): $310 · +11.1% YoY. Source: county tax records.