11453 Bayview Edison Rd #32 · Bay View, WA 98273

$194,000

2 bd · 2.0 ba · 1,168 sqft · Manufactured · 58 Days on market

Built 1983 Good condition $166/sqft · 288% above area ↓ 3% since listing

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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 +19.2/30.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• 1% rule +5.1/10.0
• Condition / age +4.0/5.0
• Schools +3.5/10.0
• Livability +3.4/5.0
• Rent growth +3.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Bayview Mobile Home Park, a peaceful 55+ community where breathtaking views of Padilla Bay and the surrounding islands create a truly special place to call home. This beautifully renovated residence has been transformed from top to bottom, inside and out, offering the perfect blend of comfort, style and functionality. Step inside to a bright, open living design filled with natural light, framed by glistening views of the Bay. Thoughtfully designed for accessible age-in-place living, this home features a ramped entry, easy-care luxury vinyl plank flooring throughout the main living areas, a wide hallway, and pocket doors for added convenience. Perfect kitchen is sure to impress wi

Key facts

• Breathtaking views
• Pocket doors
• Ramped entry

Tags

• BREATHTAKING VIEWS
• ACCESSIBLE AGE-IN-PLACE LIVING
• RAMPED ENTRY
• LUXURY VINYL PLANK FLOORING
• WIDE HALLWAY
• POCKET DOORS

Property features AI

Finance

• Other: Corner lot with non-deeded water access
• Financial info: Cash offers only
• HOA & community: Located in a senior community; Bayview Mobile Home Park amenities include high-speed internet availability; Land lease: $1,300

Exterior

• Parking: Uncovered parking; 2 open parking spaces
• Utilities: Electric energy; Public water (Skagit PUD #1); Puget Sound Energy power; Sewer: N/A; Internet: Astound
• Home design: Manufactured single-wide home; One level; Model: 1983 Liberty/Oakbrook; North-facing; Property in Bayview Mobile Home Park (park approved for sale); Mobile home remains
• Construction: Wood construction; Composition roof; Wood skirt; Built as manufactured after 6/15/1976; Structure type: Manufactured house
• Exterior features: Wood exterior; Wood products; Patio/porch/deck; Corner lot; Dead-end street; Paved; Has view

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove/Range; Walk-in pantry
• Bedrooms: 2 bedrooms
• Flooring: Vinyl plank; Carpet
• Bathrooms: 2 three-quarter bathrooms (2 showers)
• Heating & cooling: Wall furnace heating; No cooling; Double-pane windows
• Interior features: Water heater (tankless, located in laundry); Tie down foundation
• Laundry & utility: Washer; Dryer; Laundry/utility room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $194k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $208 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $194k).
• Recommended offer: $188k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#281 in WA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: health & safety C-, amenities F, cost of living F.
• Burlington-Edison School District (suburban): math 32% / reading 42% proficiency, ranked #229 of 291 in WA (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Bay View Elementary (409 students, 47% FRL); Burlington Edison High School (1,139 students, 58% FRL).
• Market conditions: Rents rising (+2.3%/yr); 203 active listings in the ZIP; solid renter incomes; 561 units permitted in Skagit County in 2024 (270 in 5+ unit buildings).
• This rent runs 31% 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 $1k of loan paydown is wiped out by about $6k 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 58 days — a 3% lower offer ($188k) is reasonable based on typical stale-listing flexibility.

Recommended offer $188,180 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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: 1.01% ✓
• Cap rate: 7.58%
• Cash-on-cash: 4.60%
• DSCR: 1.20
• GRM: 8.2

CMA / ARV

• ARV (median comp): $49,954
• List price: $194,000
• Delta: 288.36%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11453 Bayview Edison Rd #25	0.02mi	2/2.0	1,142 (-2%)	7mo	$50,000	$44	90
11453 Bayview Edison Rd #6	0.00mi	2/2.0	1,120 (-4%)	4mo	$5,025	$4	90
11453 Bayview Edison Rd #36	0.02mi	2/2.0	1,188 (+2%)	16mo	$227,500	$191	83

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: -9.9%
• Equity multiple: 0.64×
• Total profit: $-19,450
• Equity at exit: $28,926

10-year hold

• IRR: -1.4%
• Equity multiple: 0.91×
• Total profit: $-5,044
• Equity at exit: $16,774

Cash invested: $54,320 (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 98273

• Rents YoY: 2.3%
• Active inventory: 203
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,961 medium
• Mortgage (P&I): −$1,017
• Tax est. 1.5%: −$242 /mo · $2,910/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $208

Break-even live

Break-even rent $1,697

Max offer price $194,000

Occupancy floor 84%

Sensitivity live

Price	-10% $342	-5% $275	+0% $208	+5% $141	+10% $74
Rent	-10% $53	-5% $131	+0% $208	+5% $286	+10% $363
Rate	-1.0pp $306	-0.5pp $258	base $208	+0.5pp $158	+1.0pp $107

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: $48,500
• Closing costs: $5,820
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $194,000 Active 58 DOM
2. 2026-06-19
   days on market $194,000 Active 56 DOM
3. 2026-06-18
   days on market $194,000 Active 55 DOM
4. 2026-06-17
   days on market $194,000 Active 54 DOM
5. 2026-06-16
   days on market $194,000 Active 53 DOM
6. 2026-06-15
   days on market $194,000 Active 52 DOM
7. 2026-06-14
   days on market $194,000 Active 50 DOM
8. 2026-06-13
   days on market $194,000 Active 49 DOM
9. 2026-06-10
   days on market $194,000 Active 47 DOM
10. 2026-06-09
    days on market $194,000 Active 46 DOM
11. 2026-06-08
    days on market $194,000 Active 45 DOM
12. 2026-06-07
    days on market $194,000 Active 44 DOM
13. 2026-06-05
    days on market $194,000 Active 41 DOM
14. 2026-06-03
    days on market $194,000 Active 40 DOM
15. 2026-06-03
    price $194,000 Active 39 DOM
16. 2026-06-02
    days on market $199,000 Active 39 DOM
17. 2026-06-01
    days on market $199,000 Active 38 DOM
18. 2026-05-31
    days on market $199,000 Active 37 DOM
19. 2026-05-30
    days on market $199,000 Active 36 DOM
20. 2026-04-24
    listed $199,000 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥81°F today · 18 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: $23,530
• − Mortgage interest: −$10,867
• − Property taxes: −$2,910
• − Insurance: −$970
• − Repairs & maintenance: −$1,882
• − Management: −$1,882
• − Depreciation: −$5,644
• Taxable loss: −$626
• Est. tax savings @ 24.0%: +$150
• After-tax cash flow: $2,650/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 Cosmetic rehab

This beautifully renovated manufactured home in Bayview Mobile Home Park offers a bright, open living space with modern amenities and stunning views of Padilla Bay. The home is move-in ready with minimal maintenance required.

Value-add opportunities

• Both Paint exterior trim — Enhances curb appeal and value
• Both Replace outdoor lighting — Improves safety and enhances curb appeal
• Both Install smart home devices — Enhances convenience and marketability

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior trim — Enhances curb appeal and value ↑
• Both Replace outdoor lighting — Improves safety and enhances curb appeal ↑
• Both Install smart home devices — Enhances convenience and marketability ↑

ⓘ 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: Burlington-Edison School District
• NCES district ID: 5300780
• Math proficiency: 32% ▼ -1.00%
• Reading proficiency: 42% ▲ 1.00%
• Median HH income: $59,128
• Composite: 35.41/100
• National rank: #9782
• State rank: #229 of 291 in WA

Livability — Bay View

• Score: 68/100
• State rank: #281
• US rank: #9698

Category grades

Amenities F Commute B Cost of living F Crime A Employment A+ Housing A+ Health & safety C- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bay View, WA
• County: Skagit County · 118,108 people
• 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

-2.5% since first listed

2 events — show timeline

• 2026-06-02 Price Changed $194,000 NWMLS as Distributed by MLS Grid
• 2026-04-24 Listed $199,000 NWMLS as Distributed by MLS Grid