Listed by Windermere RE Skagit Valley, Bought with Skyline Properties, Inc.
NOT LISTED FOR SALE

1224 S 2nd St Mount Vernon, WA 98273

-- Bed
-- Bath
3,440 Sq Ft
5,998 Sq Ft Lot

Last Sold January 02, 2024

Last sale price $585,000 $170 Per Sq Ft

7 Days on Market

Highlights

  • No HOA
  • Baseboard Heating
  • Wood Siding

About This Home

As of January 2024

Six-unit Mount Vernon rental property with good steady income and return on investment. Very low vacancy in this older building! Seven cap makes this a good long term investment.

Last Agent to Sell the Property

Jim Glackin

Windermere RE Skagit Valley License #73821 Listed on: 11/24/2023

Windermere RE Skagit Valley

Last Buyer's Agent

Artem Belayev

Skyline Properties, Inc. License #21028077

Skyline Properties, Inc.

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 2181731

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,542

Year Built

  • Built in 1920

Lot Details

  • 5,998 Sq Ft Lot

Home Design

  • Poured Concrete
  • Composition Roof
  • Wood Siding

Interior Spaces

  • 3,440 Sq Ft Home
  • 2-Story Property

Parking

  • 4 Parking Spaces
  • Open Parking

Utilities

  • Baseboard Heating
  • Heating System Mounted To A Wall or Window

Community Details

  • No Home Owners Association
  • Mount Vernon Subdivision

Listing and Financial Details

  • Assessor Parcel Number P54301

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,542

Year Built

Built in 1920

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 55 - 5-9 Units
  • Year Built: 1920
  • Buyer Agency Compensation: 2.5
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 3440
  • Special Features: None

Interior Features

  • Possible Use: Residential
  • Fireplace: No
  • Stories: 2
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0

Exterior Features

  • Roof: Composition
  • Lot Features: Alley, Curbs, Paved, Sidewalk
  • View: No
  • Waterfront: No
  • Exterior Features: Wood
  • Foundation Details: Poured Concrete
  • Structure Type: Multi Family

Garage/Parking

  • Carport Y N: No
  • Open Parking: Yes
  • Total Parking Spaces: 4

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Cooling: None
  • Cooling Y N: No
  • Heating: Baseboard, Wall Unit(s)
  • Heating Yn: Yes
  • PowerCompany: PSE
  • SewerCompany: city of Mount Vernon
  • WaterCompany: Skagit County PUD # 1

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Schools

  • Junior High Dist: Mount Vernon

Lot Info

  • Parcel Number: P54301
  • Lot Size Acres: 0.1377
  • Lot Size Sq Ft: 5998
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • SiteFeatures: Gas Available
  • MLSLotSizeSource: Assessor
  • ZoningJurisdiction: City
  • ZoningClass: Residential

Green Features

  • Power Production Type: Electric

Rental Info

  • GrossRentMultiplier: 10.22
  • LeasedItems: None
  • TotalMonthlyIncome: 5050

Tax Info

  • Year: 2023
  • Tax Annual Amount: 6542

Multi Family

  • Number Of Units Total: 6
  • Electric Expense: 600
  • EnergySource: Electric
  • UnitsBelowGrade: false

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
01/02/2024 01/02/24 Sold $585,000 -5.5% $170 / Sq Ft
12/01/2023 12/01/23 Pending -- -- --
11/24/2023 11/24/23 For Sale $619,000 -- $180 / Sq Ft
Source: Northwest Multiple Listing Service (NWMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $6,645 $637,000 $408,000 $229,000
2024 $6,447 $599,500 $384,000 $215,500
2023 $6,447 $599,500 $384,000 $215,500
2022 $7,417 $599,500 $384,000 $215,500
2021 $6,272 $599,500 $384,000 $215,500
2020 $5,648 $471,500 $0 $0
2019 $4,068 $412,600 $0 $0
2018 $5,079 $333,600 $0 $0
2017 $4,705 $323,600 $0 $0
2016 $4,764 $294,700 $150,000 $144,700
2015 $5,976 $294,700 $150,000 $144,700
2013 $6,115 $356,900 $0 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 2181731

Northwest Multiple Listing Service (NWMLS)