This 3-bed, 2-bath, 1,916 sqft lakefront home at Lake Cavanaugh is positioned as a premium rental in Mount Vernon. Based on comp data for similar waterfront and single-family properties, the estimated monthly rent potential ranges from $2,250 to $3,000. Annual gross revenue could hit $27K–$36K, with a projected payback period of 21–28 years purely from rent. The local rental market is steady but not high-growth, with larger homes commanding a premium, especially those with unique amenities like lake access, private dock, and spa. Challenges may include seasonal demand and a smaller tenant pool for high-end rentals, but the rare lakefront and privacy features are compelling draws.[1][2][3][5]

To maximize rental value, consider furnishing the home for short-term or executive stays—demand for premium, furnished lakefront rentals is growing. Modernizing the kitchen or adding a flexible guest space could also boost rent. If contemplating a sale, highlight the 190’ deeded lakefront, private dock, and spa—these are rare in Skagit County. For investors, marketing to vacation and remote-work tenants is key; high-end, seasonal, or multi-family groups may yield the best returns.