1100 Borseth St · Sedro-Woolley, WA 98284

$619,000

5 bd · 3.0 ba · 3,023 sqft · MultiFamily public records · 129 Days on market

Built 1900 0.55 ac lot $205/sqft · at area comps Est $628k · at est.

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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 +21.5/30.0
• Appreciation +10.0/10.0
• ARV discount +8.1/15.0
• DSCR +6.8/10.0
• 1% rule +4.7/10.0
• Schools +4.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Development potential awaits on this . 55 acre multi family zoned property in the heart of desirable Sedro Woolley WA. The county says 3 more triplexes may be built here. The current triplex is always fully occupied. New appliances and floor coverings were installed in 2021 including stacked washer/dryers in each unit.

Key facts

• 3 separate units
• Multi family home
• Zoned for tri plexes

Tags

• MULTI FAMILY HOME
• 3 SEPARATE UNITS
• SPACIOUS LOT
• DEVELOPMENT POTENTIAL
• ZONED FOR TRI PLEXES

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath multifamily listed at $619k.

Deal economics

• At list price, monthly cash flow is $924 ($11k/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 $598k (3.4% below list).
• Recommended offer: $545k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 2.4% in Sedro-Woolley — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Sedro-Woolley School District (suburban): math 47% / reading 58% proficiency, ranked #117 of 291 in WA (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 226 active listings in the ZIP; solid renter incomes; 561 units permitted in Skagit County in 2024 (270 in 5+ unit buildings).
• At $5,982/mo this rent would consume 77% of the median local household income ($93k/yr) (locally 502% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $66k of equity ($4k loan paydown + $62k appreciation (10.0% local appreciation)).
• Skagit County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $173k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$106k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 129 days — a 12% lower offer ($545k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $544,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 129 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.97% ✗
• Cap rate: 8.08%
• Cash-on-cash: 6.40%
• DSCR: 1.28
• GRM: 8.6

CMA / ARV

• ARV (median comp): $627,984
• List price: $619,000
• Delta: -1.43%
• Verdict: FAIR
• Comps: 3 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.9%
• Equity multiple: 3.28×
• Total profit: $395,783
• Equity at exit: $557,644

10-year hold

• IRR: 25.1%
• Equity multiple: 7.46×
• Total profit: $1,118,824
• Equity at exit: $1,202,581

Cash invested: $173,320 (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 98284

• Home prices YoY: 3.5%
• Active inventory: 226
• Price-to-rent: 24.3×

Monthly cashflow live

• Estimated rent: $5,982 high
• Mortgage (P&I): −$3,246
• Tax from tax record: −$298 /mo · $3,571/yr
• Insurance: −$258
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,256
• Net cashflow: $924

Break-even live

Break-even rent $4,812

Max offer price $619,000

Occupancy floor 80%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,244
1× unit	1	1	$1,738
Total (3 units)			$5,982

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: $154,750
• Closing costs: $18,570
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $619,000 Active 129 DOM
2. 2026-06-18
   days on market $619,000 Active 128 DOM
3. 2026-06-17
   days on market $619,000 Active 127 DOM
4. 2026-06-16
   days on market $619,000 Active 126 DOM
5. 2026-06-15
   days on market $619,000 Active 125 DOM
6. 2026-06-14
   days on market $619,000 Active 123 DOM
7. 2026-06-13
   days on market $619,000 Active 122 DOM
8. 2026-06-10
   days on market $619,000 Active 120 DOM
9. 2026-06-09
   days on market $619,000 Active 119 DOM
10. 2026-06-08
    days on market $619,000 Active 118 DOM
11. 2026-06-07
    days on market $619,000 Active 117 DOM
12. 2026-06-05
    days on market $619,000 Active 114 DOM
13. 2026-06-02
    days on market $619,000 Active 112 DOM
14. 2026-06-01
    days on market $619,000 Active 111 DOM
15. 2026-05-31
    days on market $619,000 Active 110 DOM
16. 2026-05-30
    days on market $619,000 Active 109 DOM
17. 2026-02-10
    listed $619,000 Active
18. 2026-01-30
    listed $619,000 Active 320-char remark

    Show marketing remark (320 chars)

    Development potential awaits on this . 55 acre multi family zoned property in the heart of desirable Sedro Woolley WA. The county says 3 more triplexes may be built here. The current triplex is always fully occupied. New appliances and floor coverings were installed in 2021 including stacked washer/dryers in each unit.

19. 2024-03-14
    historical $1,500
20. 2024-01-18
    listed $1,500
21. 2024-01-08
    historical $1,500
22. 2024-01-04
    listed $1,500

ⓘ 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: $3,571 · $298/mo
• Projected year-2 tax: $6,066 · $506/mo
• Expected delta: +$2,495/yr (+$208/mo · 69.9%)

ⓘ 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 7 d/yr ≥83°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 9 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $71,784
• − Mortgage interest: −$34,674
• − Property taxes: −$3,571
• − Insurance: −$3,095
• − Repairs & maintenance: −$5,743
• − Management: −$5,743
• − Depreciation: −$18,007
• Taxable income: $952
• Est. tax owed @ 24.0%: −$228
• After-tax cash flow: $10,862/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: Sedro-Woolley School District
• NCES district ID: 5307740
• Math proficiency: 47% ▼ -2.00%
• Reading proficiency: 58% ▬ 0.00%
• Median HH income: $57,385
• Composite: 47.45/100
• National rank: #5005
• State rank: #117 of 291 in WA

Livability — Sedro-Woolley

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Sedro-Woolley, WA
• County: Skagit County · 118,108 people
• Metro: Mount Vernon-Anacortes, WA
• Population (ZIP): 27,835
• Household income: $93,006
• Rent vs Own: 27.0% rent · 73.0% own
• Severe rent burden: 502.0

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: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 14% Two or more races 8% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 12% Puerto Rican 1%
• Common ancestry: Portuguese 6% Slovak 4% Italian 3%
• Foreign-born: 5% · Canada, China
• Languages at home: 88% English-only · Spanish 10% German/W. Germanic 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: ▲ 43.42%
• Current HPI: 1280.83
• 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

+41166.7% since first listed

6 events — show timeline

• 2026-02-10 Listed $619,000 NWMLS as Distributed by MLS Grid
• 2026-01-30 Listed $619,000 ForSaleByOwner.com
• 2024-03-14 Rental Removed $1,500 APPFOLIO
• 2024-01-18 Listed for Rent $1,500 APPFOLIO
• 2024-01-08 Rental Removed $1,500 APPFOLIO
• 2024-01-04 Listed for Rent $1,500 APPFOLIO

Property tax history

+3.1%/yr

Latest (2026): $3,571 · -1.8% YoY. Source: county tax records.