2725 E Fir St #88 · Mount Vernon, WA 98273

$59,500

2 bd · 2.0 ba · 1,142 sqft · Manufactured public records · 81 Days on market

Built 1979 $52/sqft · 36% below area Est $93k · 36% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.0/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Park Village! Check out this cozy, surprisingly spacious park home in a quiet 55+ gated community in Mount Vernon offering a comfortable, low maintenance lifestyle with a clubhouse and amenities. This 2 bedroom, 1.75-bath offers comfort, convenience and a few updates. The primary bedroom features a large walk-in closet providing plenty of storage space. You'll stay comfortable with an AC split in the living room. Newer energy-efficient insulation was installed underneath the home and a new roof was completed last year for added peace of mind. Outside you'll find covered parking and a handy work shed that provides extra storage or space for projects. The nice covered deck is per

Key facts

• New carpet
• New roof
• 2 parking spots

Tags

• NEW ROOF
• NEW CARPET
• ENERGY EFFICIENT INSULATION
• COVERED PARKING SPACES

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $60k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $56k (6.0% below list) — sets the bar for market timing.
• Cap rate 32.1% 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.
• Market conditions: Rents rising (+2.3%/yr); 199 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% 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 33% of the median local income ($77k/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 $411 of loan paydown is wiped out by about $2k 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 + 2.3% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 23y ago; this cycle's ask has dropped $12k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $8k; list at $60k implies a 644% gain — meaningful room to come down on a strong offer.

Recommended offer $55,930 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 3.51% ✓
• Cap rate: 32.14%
• Cash-on-cash: 92.31%
• DSCR: 5.11
• GRM: 2.4

CMA / ARV

• ARV (median comp): $93,488
• List price: $59,500
• Delta: -36.36%
• 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
2725 E Fir St #15	0.03mi	2/2.0	1,152 (+1%)	3mo	$97,000	$84	94
2725 E Fir #43	0.02mi	2/2.0	1,152 (+1%)	9mo	$64,000	$56	90
2725 E Fir St #110	0.00mi	2/2.0	1,152 (+1%)	12mo	$55,000	$48	89
2725 E Fir St #51	0.00mi	2/2.0	1,152 (+1%)	16mo	$80,000	$69	85
2725 E Fir St #103	0.00mi	2/2.0	1,152 (+1%)	18mo	$75,000	$65	83
2725 E Fir St #41	0.02mi	2/2.0	1,248 (+9%)	1mo	$85,000	$68	83
2725 E Fir St #100	0.00mi	3/2.0 (+1)	1,152 (+1%)	16mo	$69,300	$60	80
2725 E Fir #61	0.02mi	2/2.0	1,212 (+6%)	16mo	$150,000	$124	75
2725 Fir St #22	0.00mi	2/2.0	1,272 (+11%)	10mo	$75,500	$59	73
2725 E Fir St #84	0.02mi	2/2.0	1,280 (+12%)	10mo	$122,000	$95	71
1915 N 33rd Pl	0.67mi	2/2.0	1,274 (+12%)	4mo	$399,000	$313	46
1905 N 33rd	0.64mi	3/2.0 (+1)	1,274 (+12%)	9mo	$480,000	$377	38

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 · 2.33% rent growth · sell at horizon

5-year hold

• IRR: 92.3%
• Equity multiple: 5.24×
• Total profit: $70,587
• Equity at exit: $8,872

10-year hold

• IRR: 95.0%
• Equity multiple: 10.66×
• Total profit: $160,924
• Equity at exit: $5,144

Cash invested: $16,660 (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 98273

• Rents YoY: 2.3%
• Active inventory: 199
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $2,091 high
• Mortgage (P&I): −$312
• Tax from tax record: −$33 /mo · $401/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$439
• Net cashflow: $1,282

Break-even live

Break-even rent $469

Max offer price $59,500

Occupancy floor 34%

Sensitivity live

Price	-10% $1,315	-5% $1,298	+0% $1,282	+5% $1,265	+10% $1,248
Rent	-10% $1,116	-5% $1,199	+0% $1,282	+5% $1,364	+10% $1,447
Rate	-1.0pp $1,312	-0.5pp $1,297	base $1,282	+0.5pp $1,266	+1.0pp $1,250

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: $14,875
• Closing costs: $1,785
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1521 N 26th St Mount Vernon, WA	1.0–3.0	1.0	807	$1,755	$2.17	22d	8	0.32mi
1115 Nylin Ct Mount Vernon, WA	3.0	1.0	1032	$2,500	$2.42	45d	1	0.50mi
3316 E College Way Unit A Mount Vernon, WA	3.0	1.0	916	$2,000	$2.18	45d	1	0.53mi
1516 N 19th St Mount Vernon, WA	2.0	1.0	850	$1,795	$2.11	22d	1	0.62mi
119 N 29th Pl Mount Vernon, WA	3.0	1.0	1098	$2,700	$2.46	45d	1	0.62mi
130 Stanford Dr Unit C Mount Vernon, WA	2.0	1.0	800	$1,595	$1.99	45d	1	0.74mi
1508 N Waugh Rd Apt B Mount Vernon, WA	2.0	1.0	1021	$2,300	$2.25	22d	1	0.74mi
3129 Arbor St Mount Vernon, WA	3.0	2.0	1244	$2,600	$2.09	22d	1	1.16mi
1011 E Division St Unit 103 Mount Vernon, WA	1.0	1.0	800	$1,250	$1.56	45d	1	1.18mi
115 E Cedar St Mount Vernon, WA	2.0	1.0	850	$1,600	$1.88	45d	1	1.32mi
2430 W Meadow Blvd Mount Vernon, WA	3.0	2.5	1400	$3,000	$2.14	45d	1	1.33mi
1002 S 12th St Mount Vernon, WA	2.0	1.0	1052	$2,575	$2.45	22d	1	1.37mi
1511 Shirley Pl Mount Vernon, WA	2.0	1.0	936	$2,250	$2.40	45d	1	1.38mi

Listing history 37 events

1. 2026-06-19
   days on market $59,500 Active 81 DOM
2. 2026-06-18
   days on market $59,500 Active 80 DOM
3. 2026-06-17
   days on market $59,500 Active 79 DOM
4. 2026-06-16
   days on market $59,500 Active 78 DOM
5. 2026-06-15
   days on market $59,500 Active 77 DOM
6. 2026-06-14
   days on market $59,500 Active 75 DOM
7. 2026-06-13
   days on market $59,500 Active 74 DOM
8. 2026-06-10
   days on market $59,500 Active 72 DOM
9. 2026-06-09
   days on market $59,500 Active 71 DOM
10. 2026-06-08
    days on market $59,500 Active 70 DOM
11. 2026-06-07
    days on market $59,500 Active 69 DOM
12. 2026-06-03
    days on market $59,500 Active 65 DOM
13. 2026-06-02
    remarks 699-char remark
14. 2026-06-02
    pricedays on market $59,500 Active 64 DOM
15. 2026-06-01
    days on market $64,900 Active 63 DOM
16. 2026-05-31
    days on market $64,900 Active 62 DOM
17. 2026-05-30
    days on market $64,900 Active 61 DOM
18. 2026-04-29
    price $64,900
19. 2026-03-30
    listed $72,000 Active
20. 2012-09-07
    soldstatus $8,000 Sold
21. 2012-09-05
    status Pending
22. 2012-07-27
    status Active
23. 2012-07-26
    historical
24. 2012-07-26
    listed $14,000 Active
25. 2011-03-04
    soldstatus $16,000 Sold
26. 2011-02-25
    status Pending
27. 2010-07-07
    price $21,500
28. 2010-04-14
    price $28,500
29. 2009-07-15
    price $36,500
30. 2009-06-01
    status
31. 2009-06-01
    historical
32. 2009-02-26
    price $38,500
33. 2009-01-15
    listed $39,500
34. 2005-10-07
    soldstatus $46,500
35. 2005-08-10
    listed $47,500
36. 2003-09-22
    soldstatus $42,000
37. 2003-07-01
    listed $44,900

ⓘ 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: $401 · $33/mo
• Projected year-2 tax: $583 · $49/mo
• Expected delta: +$182/yr (+$15/mo · 45.3%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X · 22% 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: $25,091
• − Mortgage interest: −$3,333
• − Property taxes: −$401
• − Insurance: −$298
• − Repairs & maintenance: −$2,007
• − Management: −$2,007
• − Depreciation: −$1,731
• Taxable income: $15,313
• Est. tax owed @ 24.0%: −$3,675
• After-tax cash flow: $11,703/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): 30,001
• Household income: $76,717
• Rent vs Own: 38.6% rent · 61.4% own
• Severe rent burden: 1045.0

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 (60%)
• Race & ethnicity: White 60% Hispanic / Latino 32% Two or more races 9% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 30%
• Common ancestry: Portuguese 6% Slovak 3% Italian 2%
• Foreign-born: 14% · Canada
• Languages at home: 71% English-only · Spanish 25% Russian/Polish/Slavic 1% Other Indo-European 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: ▼ -525.00%
• Current HPI: 395.3742
• Rent YoY: ▲ 2.33%
• 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

+44.5% since first listed

20 events — show timeline

• 2026-04-29 Price Changed $64,900 NWMLS as Distributed by MLS Grid
• 2026-03-30 Listed $72,000 NWMLS as Distributed by MLS Grid
• 2012-09-07 Sold (MLS) $8,000 NWMLS as Distributed by MLS Grid
• 2012-09-05 Pending — NWMLS as Distributed by MLS Grid
• 2012-07-27 Relisted — NWMLS as Distributed by MLS Grid
• 2012-07-26 Delisted — NWMLS as Distributed by MLS Grid
• 2012-07-26 Listed $14,000 NWMLS as Distributed by MLS Grid
• 2011-03-04 Sold (MLS) $16,000 NWMLS as Distributed by MLS Grid
• 2011-02-25 Pending — NWMLS as Distributed by MLS Grid
• 2010-07-07 Price Changed $21,500 NWMLS as Distributed by MLS Grid
• 2010-04-14 Price Changed $28,500 NWMLS as Distributed by MLS Grid
• 2009-07-15 Price Changed $36,500 NWMLS as Distributed by MLS Grid
• 2009-06-01 Relisted — NWMLS as Distributed by MLS Grid
• 2009-06-01 Delisted — NWMLS as Distributed by MLS Grid
• 2009-02-26 Price Changed $38,500 NWMLS as Distributed by MLS Grid
• 2009-01-15 Listed $39,500 NWMLS as Distributed by MLS Grid
• 2005-10-07 Sold (MLS) $46,500 NWMLS as Distributed by MLS Grid
• 2005-08-10 Listed $47,500 NWMLS as Distributed by MLS Grid
• 2003-09-22 Sold (MLS) $42,000 NWMLS as Distributed by MLS Grid
• 2003-07-01 Listed $44,900 NWMLS as Distributed by MLS Grid

Property tax history

-4.3%/yr

Latest (2013): $401 · +8.8% YoY. Source: county tax records.