1120 S 25th St #98 · Mount Vernon, WA 98274

$279,000

3 bd · 2.0 ba · 1,568 sqft · Manufactured · 25 Days on market

Built 2023 Good condition $178/sqft · 21% above area Est $231k · 21% over

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Why this score? — see what drove the D 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 +17.6/30.0
• DSCR +5.5/10.0
• 1% rule +4.7/10.0
• Schools +4.0/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Nestled in the highly sought-after, all-age community at Viewmont Mobile Estates, this beautiful new Marlette home offers modern comfort. The spacious, light-filled layout features 3 bedrooms and 2 bathrooms, highlighted by an open contemporary design. The primary suite includes a generous walk-in closet and a private en suite with dual sinks for added convenience. The stunning kitchen stands out with its large island, elegant tile backsplash, and abundant hardwood cabinetry, complemented by brand-new appliances throughout. Step outside to a roomy yard offering endless possibilities: create a lush garden, design a cozy patio area, or simply enjoy the open space as it is. With a prime locati

Key facts

• Private en suite
• Walk-in closet
• Large island

Tags

• WALK-IN CLOSET
• PRIVATE EN SUITE
• LARGE ISLAND
• TILE BACKSPLASH
• HARDWOOD CABINETRY
• BRAND-NEW APPLIANCES

Property features AI

Finance

• Financial info: Land lease: $1,100 per month; Listing terms: Cash or Conventional
• HOA & community: Located in Viewmont Mobile Estates (land lease community)

Exterior

• Parking: Carport
• Utilities: Public water; Skagit PUD water service; PSE power; City of Mount Vernon sewer
• Home design: Manufactured Home (double wide); One story; Entry level: One
• Construction: Composition roof; Manufactured house structure type; Double wide body type
• Exterior features: Paved lot; Has view; Manufactured home park common area; Manufactured home park clubhouse

Interior

• Kitchen: Kitchen with eating space
• Bedrooms: 3 bedrooms
• Flooring: Vinyl flooring; Carpet
• Bathrooms: 1 full bath; 1 three-quarter bath; 1 bathtub; 2 showers
• Heating & cooling: Forced air heating; Electric energy source
• Interior features: Dining room; Entry; Kitchen with eating space; Living room; Utility room; Has heating (forced air)
• Laundry & utility: Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $279k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $220 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $272k (2.6% below list).
• Recommended offer: $272k (2.6% below list) — sets the bar for 1% rule.
• Cap rate 7.2% 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: Jefferson Elementary (455 students, 65% 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; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 34% 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 $2k of loan paydown is wiped out by about $8k 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 25 days — a 2% lower offer ($275k) is reasonable based on typical stale-listing flexibility.

Recommended offer $271,852 (2.6% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.97% ✗
• Cap rate: 7.24%
• Cash-on-cash: 3.37%
• DSCR: 1.15
• GRM: 8.6

CMA / ARV

• ARV (median comp): $230,895
• List price: $279,000
• Delta: 20.83%
• Verdict: OVERPRICED
• Comps: 18 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 #7	0.01mi	3/2.0	1,605 (+2%)	3mo	$130,000	$81	93
2610 E Section #112	0.26mi	3/2.0	1,588 (+1%)	1mo	$245,000	$154	85
1120 S 25th St #45	0.05mi	3/2.0	1,512 (-4%)	8mo	$169,000	$112	84
1120 S 25th St #95	0.01mi	2/2.0 (-1)	1,512 (-4%)	6mo	$164,000	$108	84
1120 S 25th St #39	0.01mi	3/2.0	1,401 (-11%)	4mo	$160,000	$114	79
2610 E Section St #85	0.47mi	3/2.0	1,568 (0%)	10mo	$219,000	$140	70
2610 E Section St #86	0.47mi	3/2.0	1,610 (+3%)	9mo	$250,000	$155	66
2610 E Section St #95	0.26mi	3/2.0	1,772 (+13%)	2mo	$285,000	$161	65
2610 E Section St #12	0.47mi	3/2.0	1,736 (+11%)	4mo	$300,000	$173	57
2610 E Section St #97	0.46mi	2/2.0 (-1)	1,388 (-12%)	3mo	$232,000	$167	52
2610 E Section St #46	0.47mi	2/1.5 (-1)	1,418 (-10%)	7mo	$300,000	$212	49
2610 E Section St #115	0.47mi	2/2.0 (-1)	1,772 (+13%)	10mo	$255,000	$144	42

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: -11.0%
• Equity multiple: 0.60×
• Total profit: $-31,187
• Equity at exit: $41,600

10-year hold

• IRR: -1.7%
• Equity multiple: 0.88×
• Total profit: $-8,987
• Equity at exit: $24,123

Cash invested: $78,120 (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: 8.6×

Monthly cashflow live

• Estimated rent: $2,719 medium
• Mortgage (P&I): −$1,463
• Tax est. 1.5%: −$349 /mo · $4,185/yr
• Insurance: −$116
• HOA: −$0
• Vacancy / Maint / Mgmt: −$571
• Net cashflow: $220

Break-even live

Break-even rent $2,441

Max offer price $279,000

Occupancy floor 87%

Sensitivity live

Price	-10% $412	-5% $316	+0% $220	+5% $123	+10% $27
Rent	-10% $5	-5% $112	+0% $220	+5% $327	+10% $434
Rate	-1.0pp $360	-0.5pp $290	base $220	+0.5pp $147	+1.0pp $74

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: $69,750
• Closing costs: $8,370
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2815 E Section St Mount Vernon, WA	2.0	2.0	2100	$2,100	$1.00	45d	1	0.20mi
119 N 29th Pl Mount Vernon, WA	3.0	1.0	1098	$2,700	$2.46	45d	1	0.52mi
1002 S 12th St Mount Vernon, WA	2.0	1.0	1052	$2,575	$2.45	23d	1	0.79mi
202 Dallas St Mount Vernon, WA	3.0	2.5	1582	$1,375	$0.87	23d	1	1.28mi
1521 N 26th St Mount Vernon, WA	1.0–3.0	1.0	807	$1,995	$2.47	23d	8	1.33mi

Listing history 1 events

1. 2026-02-06
   listed $279,000 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 · 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: $32,622
• − Mortgage interest: −$15,628
• − Property taxes: −$4,185
• − Insurance: −$1,395
• − Repairs & maintenance: −$2,610
• − Management: −$2,610
• − Depreciation: −$8,116
• Taxable loss: −$1,922
• Est. tax savings @ 24.0%: +$461
• After-tax cash flow: $3,096/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 80/100 None rehab

This modern, move-in-ready home in a sought-after community offers a spacious, light-filled layout with an open contemporary design. The kitchen and bathrooms are well-designed, and the exterior is well-maintained with a solid foundation and landscaping.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value
• Both painting — fresh paint can make a significant difference in appearance
• Both upgrading appliances — newer appliances can increase both resale and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — enhances curb appeal and adds value ↑
• Both painting — fresh paint can make a significant difference in appearance ↑
• Both upgrading appliances — newer appliances can increase both resale and rental 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: 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

2 events — show timeline

• 2026-05-29 Pending — NWMLS as Distributed by MLS Grid
• 2026-02-06 Listed $279,000 NWMLS as Distributed by MLS Grid