NOT LISTED FOR SALE

507 N 1st St Unit A-C Mount Vernon, WA 98273

Estimated Value: $558,000 - $729,980

6 Beds
3 Baths
2,574 Sq Ft
$247/Sq Ft Est. Value

Last Sold March 01, 2022

Last sale price $690,000 $268 Per Sq Ft

Est. 8% decrease in value since last sale

Current estimated payment $3,844/month

6 Days on Market

Highlights

  • Deck
  • No HOA
  • Wood Siding
  • Territorial View
  • Vinyl Plank Flooring

About This Home

As of March 2022

Tri-Plex w 5.5 Cap Rate and strong rental history. Lots of windows for good natural light. Nice open floor plans. Storage lockers for each unit and coin-op laundry for additional income. There is a possible Fourth Unit that is unfinished. Gas heat for each unit, separate meters, ample off-street parking. New roof in 2017. The A unit is recently vacated so a good time for an owner-occupied opportunity. The other two leases are on a mo/mo basis. Great investment!

Last Agent to Sell the Property

Erik Pedersen

Pettruzzelli Inc License #2846 Listed on: 01/20/2022

Last Buyer's Agent

Tri Nguyen

eXp Realty License #21006806

eXp Realty

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 1880330

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,210

Year Built

  • Built in 1922

Lot Details

  • 8,712 Sq Ft Lot
  • Property is in good condition

Home Design

  • Triplex
  • Block Foundation
  • Slab Foundation
  • Poured Concrete
  • Composition Roof
  • Wood Siding

Interior Spaces

  • 2,574 Sq Ft Home
  • 2-Story Property
  • Territorial Views

Flooring

  • Wall to Wall Carpet
  • Laminate
  • Vinyl Plank
  • Vinyl

Parking

  • 6 Parking Spaces
  • Open Parking

Schools

  • Mount Vernon High School

Additional Features

  • Deck
  • Cable TV Available

Community Details

  • No Home Owners Association
  • Mount Vernon Subdivision

Listing and Financial Details

  • Assessor Parcel Number P26529

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,210

Year Built

Built in 1922

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 53 - Tri-plex
  • Year Built: 1922
  • Buyer Agency Compensation: 2.5
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 2574
  • EffectiveYearBuiltSource: Public Records
  • Special Features: None
  • Cumulative Days on Market: 274

Interior Features

  • Possible Use: Multi-Family
  • Fireplace: No
  • Flooring: Laminate, Vinyl, Vinyl Plank, Carpet
  • Interior Amenities: Forced Air, Laminate Hardwood, Wall to Wall Carpet
  • Stories: 2
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0
  • Amenities: Coin Op Laundry

Exterior Features

  • Roof: Composition
  • View: Territorial
  • Lot Features: Paved
  • View: Yes
  • Waterfront: No
  • Exterior Features: Wood
  • Foundation Details: Block, Poured Concrete, Slab
  • Property Condition: Good
  • Structure Type: Triplex

Garage/Parking

  • Carport Y N: No
  • Open Parking Spaces: 6
  • Open Parking: Yes
  • Total Parking Spaces: 6
  • ParkingUncoveredSpaces: 6

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Utilities: Cable Connected, Natural Gas Available, Sewer Connected, Electric, Natural Gas Connected
  • PowerCompany: PSE
  • SewerCompany: City of Mount Vernon
  • WaterCompany: Skagit PUD
  • WaterSewerGarbage: 6600

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Fee Information

  • Annual Fuel Expense: 250

Schools

  • Junior High Dist: Mount Vernon
  • High School: Mount Vernon High
  • Middle Or Junior School: Buyer To Verify

Lot Info

  • Parcel Number: P26529
  • Lot Size Acres: 0.2
  • Lot Size Sq Ft: 8712
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • SiteFeatures: Cable TV,Deck,Gas Available
  • MLSLotSizeSource: Legal Description
  • ZoningJurisdiction: City
  • ZoningClass: Multi-Family

Green Features

  • Power Production Type: Electric, Natural Gas

Rental Info

  • Furnished: Unfurnished
  • GrossRentMultiplier: 13
  • LeasedItems: None
  • TotalMonthlyIncome: 4200

Multi Family

  • Gross Scheduled Income: 49200
  • Net Operating Income: 36700
  • Number Of Units Total: 3
  • Electric Expense: 240
  • Insurance Expense: 1200
  • Leasable Area: 2556
  • EnergySource: Electric,Natural Gas
  • UnitsInBuildingTotal: 3
  • UnitsBelowGrade: true
  • VacancyRate: 0

Tax Info

  • Year: 2021
  • Tax Annual Amount: 4210

MLS Schools

  • Elementary School: Buyer To Verify

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 20, 2022
Closed on
Feb 25, 2022
Sold by
Lauter David M
Bought by
Rivera Doroteo and Rivera Jennifer
Seller's Agent
Erik Pedersen
Pettruzzelli Inc
Buyer's Agent
Tri Nguyen
eXp Realty
List Price
$660,000
Sold Price
$690,000
Premium/Discount to List
$30,000
4.55%
Total Days on Market
6
Current Estimated Value
$635,995

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$54,005
Avg. Annual Appreciation
-2.98%
Original Mortgage
$250,000
Outstanding Balance
$234,774
Interest Rate
3.55%
Mortgage Type
New Conventional
Estimated Equity
$390,538

Purchase Details

Listed on
Nov 6, 2019
Closed on
Jan 2, 2020
Sold by
Robison Benjamin L
Bought by
Lauter David M
Seller's Agent
Jeff Ottesen
Elite Edge Real Estate, Inc
Buyer's Agent
Erik Pedersen
Pettruzzelli Inc
List Price
$445,000
Sold Price
$465,500
Premium/Discount to List
$20,500
4.61%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
19.99%

Purchase Details

Listed on
May 10, 2017
Closed on
Aug 3, 2017
Sold by
Mehrmann Charles and Mehrmann Lisa
Bought by
Robison Benjamin L
Seller's Agent
John Angier
Coldwell Banker Bain
Buyer's Agent
Frazier Robison
eXp Realty
List Price
$340,000
Sold Price
$330,000
Premium/Discount to List
-$10,000
-2.94%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
15.34%
Original Mortgage
$357,418
Interest Rate
3.96%
Mortgage Type
VA

Purchase Details

Closed on
Feb 28, 2005
Sold by
Nicholas Cheryl A
Bought by
Mehrmann Charles and Mehrmann Lisa

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$177,800
Interest Rate
5.66%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

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Range of Values:

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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

Purchase History

Date Buyer Sale Price Title Company
Rivera Doroteo $690,000 Guardian Northwest Title
Lauter David M $465,500 Guardian Northwest Title Co
Robison Benjamin L $346,000 Guardian Northwest Title
Mehrmann Charles $237,101 Chicago Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Rivera Doroteo $250,000
Previous Owner Robison Benjamin L $357,418
Previous Owner Mehrmann Charles $177,800
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/01/2022 03/01/22 Sold $690,000 +4.5% $268 / Sq Ft
01/26/2022 01/26/22 Pending -- -- --
01/20/2022 01/20/22 For Sale $660,000 +41.8% $256 / Sq Ft
01/02/2020 01/02/20 Sold $465,500 +4.6% $134 / Sq Ft
11/10/2019 11/10/19 Pending -- -- --
11/06/2019 11/06/19 For Sale $445,000 +34.8% $128 / Sq Ft
08/04/2017 08/04/17 Sold $330,000 -2.9% $116 / Sq Ft
05/17/2017 05/17/17 Pending -- -- --
05/10/2017 05/10/17 For Sale $340,000 -- $120 / 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
2024 $5,611 $575,200 $233,400 $341,800
2023 $5,611 $548,700 $208,700 $340,000
2022 $4,792 $490,600 $165,000 $325,600
2021 $4,210 $408,400 $147,500 $260,900
2020 $3,573 $333,800 $0 $0
2019 $3,055 $275,400 $0 $0
2018 $3,689 $266,800 $0 $0
2017 $2,973 $248,000 $0 $0
2016 $3,002 $201,600 $54,200 $147,400
2015 $3,287 $201,600 $54,200 $147,400
2013 $2,862 $186,100 $0 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 1880330

Northwest Multiple Listing Service (NWMLS)

APN: P26529