2610 E Section St #16 · Mount Vernon, WA 98274

$225,000

2 bd · 2.0 ba · 1,232 sqft · Manufactured · 110 Days on market

Built 1993 Good condition 1,248 sqft lot $183/sqft · at area comps Est $219k · at est. ↓ 10% since listing

---

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 +19.1/30.0
• ARV discount +6.2/15.0
• DSCR +6.0/10.0
• 1% rule +5.1/10.0
• Schools +4.0/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Little Mountain Estates is a Gated 55+Community. Clubhouse is complete with an indoor pool, kitchen, event space, library, exercise room, and a gathering/TV room, Large open lawn, shuffleboard, and horseshoes. Outside offers a spacious picnic area and patio. Locking mailboxes and gated entry. Pet friendly park. Centrally located just minutes away from medical, shopping, and dining. 2 Bedroom, 2 full baths. Primary enclosed bedroom has a full private bath. Large kitchen with breakfast nook. Open living room and dining area. Utility room with washer and dryer with plenty of cupboards for storage. Attached one car garage. Added enclosed room for hobbies, projects or storage.

Key facts

• Gated community
• Clubhouse
• Gathering room

Tags

• GATED COMMUNITY
• CLUBHOUSE
• INDOOR POOL
• EXERCISE ROOM
• GATHERING ROOM
• SPACIOUS PICNIC AREA

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $225k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $239 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $225k).
• Recommended offer: $205k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 2.3% 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: Little Mountain Elementary (371 students, 66% FRL); Mount Baker Middle School (628 students, 73% FRL); Mount Vernon High School (1,977 students, 67% FRL).
• Market conditions: 174 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% 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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 110 days — a 9% lower offer ($205k) is reasonable based on typical stale-listing flexibility.

Recommended offer $204,750 (9.0% below list)

Questions for the listing agent

1. It's been on market 110 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.01% ✓
• Cap rate: 7.57%
• Cash-on-cash: 4.55%
• DSCR: 1.20
• GRM: 8.3

CMA / ARV

• ARV (median comp): $218,799
• List price: $225,000
• Delta: 2.83%
• Verdict: FAIR
• Comps: 13 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	0.16mi	3/2.0 (+1)	1,296 (+5%)	8mo	$167,999	$130	73
2610 E Section St #2	0.16mi	2/2.0	1,136 (-8%)	20mo	$160,000	$141	63
1120 S 25th St #33	0.16mi	3/2.0 (+1)	1,296 (+5%)	20mo	$168,000	$130	62
1120 S 25th St #39	0.16mi	3/2.0 (+1)	1,401 (+14%)	4mo	$160,000	$114	62
2610 E Section St #97	0.33mi	2/2.0	1,388 (+13%)	3mo	$232,000	$167	61
224 Widnor Dr	0.52mi	2/2.0	1,162 (-6%)	9mo	$359,900	$310	59
2610 E Section St #80	0.33mi	2/2.0	1,160 (-6%)	19mo	$150,000	$129	59
1120 S 25th St #26	0.16mi	3/2.0 (+1)	1,339 (+9%)	17mo	$159,000	$119	59
2610 E Section St #15	0.33mi	3/2.0 (+1)	1,296 (+5%)	15mo	$242,500	$187	58
1120 S 25th St #41	0.16mi	2/2.0	1,401 (+14%)	20mo	$150,000	$107	53
1120 S 25th St #15	0.16mi	3/2.0 (+1)	1,401 (+14%)	17mo	$180,000	$128	51
2610 E Section St #7	0.34mi	2/2.0	1,058 (-14%)	14mo	$215,000	$203	49

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: -9.2%
• Equity multiple: 0.66×
• Total profit: $-21,217
• Equity at exit: $33,548

10-year hold

• IRR: 0.3%
• Equity multiple: 1.02×
• Total profit: $1,246
• Equity at exit: $19,454

Cash invested: $63,000 (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: 174
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,271 high
• Mortgage (P&I): −$1,180
• Tax est. 1.5%: −$281 /mo · $3,375/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$477
• Net cashflow: $239

Break-even live

Break-even rent $1,968

Max offer price $225,000

Occupancy floor 84%

Sensitivity live

Price	-10% $394	-5% $317	+0% $239	+5% $161	+10% $83
Rent	-10% $59	-5% $149	+0% $239	+5% $328	+10% $418
Rate	-1.0pp $352	-0.5pp $296	base $239	+0.5pp $180	+1.0pp $121

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 8 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	45d	1	0.62mi
1511 Shirley Pl Mount Vernon, WA	2.0	1.0	936	$2,250	$2.40	45d	1	0.66mi
130 Stanford Dr Unit C Mount Vernon, WA	2.0	1.0	800	$1,595	$1.99	45d	1	0.72mi
1002 S 12th St Mount Vernon, WA	2.0	1.0	1052	$2,575	$2.45	23d	1	0.85mi
1221 S 12th St Mount Vernon, WA	2.0	1.0	833	$2,195	$2.64	45d	1	0.86mi
1011 E Division St Unit 103 Mount Vernon, WA	1.0	1.0	800	$1,250	$1.56	45d	1	1.09mi
1115 Nylin Ct Mount Vernon, WA	3.0	1.0	1032	$2,500	$2.42	45d	1	1.30mi
1521 N 26th St Mount Vernon, WA	1.0–3.0	1.0	807	$1,755	$2.17	23d	8	1.47mi

Listing history 19 events

1. 2026-06-22
   days on market $225,000 Active 110 DOM
2. 2026-06-19
   days on market $225,000 Active 108 DOM
3. 2026-06-18
   days on market $225,000 Active 107 DOM
4. 2026-06-17
   days on market $225,000 Active 106 DOM
5. 2026-06-16
   days on market $225,000 Active 105 DOM
6. 2026-06-15
   days on market $225,000 Active 104 DOM
7. 2026-06-14
   days on market $225,000 Active 102 DOM
8. 2026-06-13
   days on market $225,000 Active 101 DOM
9. 2026-06-10
   days on market $225,000 Active 99 DOM
10. 2026-06-09
    days on market $225,000 Active 98 DOM
11. 2026-06-08
    days on market $225,000 Active 97 DOM
12. 2026-06-07
    days on market $225,000 Active 96 DOM
13. 2026-06-03
    days on market $225,000 Active 92 DOM
14. 2026-06-02
    days on market $225,000 Active 91 DOM
15. 2026-06-01
    days on market $225,000 Active 90 DOM
16. 2026-05-31
    days on market $225,000 Active 89 DOM
17. 2026-05-30
    days on market $225,000 Active 88 DOM
18. 2026-05-14
    price $225,000
19. 2026-03-03
    listed $250,000 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 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 · 22 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: $27,246
• − Mortgage interest: −$12,603
• − Property taxes: −$3,375
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,180
• − Management: −$2,180
• − Depreciation: −$6,545
• Taxable loss: −$762
• Est. tax savings @ 24.0%: +$183
• After-tax cash flow: $3,048/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

Good 75/100 Cosmetic rehab

This manufactured home is in good condition with minimal repairs needed. It offers a good investment opportunity with potential for both resale and rental value through cosmetic updates.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Replace carpet with hardwood flooring — Improves aesthetics and increases value
• Both Install modern kitchen appliances — Modernizes the kitchen and enhances appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace carpet with hardwood flooring — Improves aesthetics and increases value ↑
• Both Install modern kitchen appliances — Modernizes the kitchen and enhances appeal ↑

ⓘ 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: 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

-10.0% since first listed

2 events — show timeline

• 2026-05-14 Price Changed $225,000 NWMLS as Distributed by MLS Grid
• 2026-03-03 Listed $250,000 NWMLS as Distributed by MLS Grid