327 E Garland Ave · Spokane, WA 99207

$225,500

2 bd · 1.0 ba · 894 sqft · SingleFamily public records

Built 1948 5,227 sqft lot Est $270k · 16% under

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Why this score? — see what drove the D- 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).

• ARV discount +14.9/15.0
• Cash flow +5.6/30.0
• Schools +4.6/10.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• 1% rule +0.8/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Investment opportunity in Spokane! This tucked-away 3-bedroom, 2-bath home offers strong potential for rental income or value-add improvements. Conveniently located near amenities, schools, and major routes, this property is ready for its next owner to unlock its full potential. Don't miss this chance to invest in a growing market.

Key facts

• 5,227 sq ft lot
• Garage
• Built 1948

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $226k.

Deal economics

• At list price, monthly cash flow is $-473 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $142k (37.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $130k (42.2% below list).
• Recommended offer: $130k (42.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 80/100 on livability (#93 in WA, #1,822 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime F.
• Spokane School District (urban): math 47% / reading 58% proficiency, ranked #136 of 291 in WA (top 47%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.2%/yr); 236 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 3,608 units permitted in Spokane County in 2024 (1,792 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Spokane County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $138k; list at $226k implies a 63% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $130,391 (42.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.58% ✗
• Cap rate: 3.78%
• Cash-on-cash: -8.98%
• DSCR: 0.60
• GRM: 14.4

CMA / ARV

• ARV (on-the-fly): $269,988
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3919 N Washington St	0.63mi	2/1.0	892 (-0%)	2mo	$290,000	$325	68
222 E Hoffman Ave	0.40mi	2/1.0	984 (+10%)	3mo	$250,000	$254	62
4009 N Calispel St	0.50mi	2/1.0	966 (+8%)	2mo	$260,000	$269	62
508 E Wabash St	0.56mi	2/1.0	857 (-4%)	10mo	$258,500	$302	59
923 E Walton Ave	0.43mi	2/1.0	1,014 (+13%)	2mo	$257,500	$254	56
801 E Longfellow Ave	0.43mi	3/1.0 (+1)	948 (+6%)	11mo	$277,000	$292	56
311 E Liberty Ave	0.42mi	2/1.0	816 (-9%)	13mo	$270,000	$331	55
1117 E Garland Ave	0.55mi	2/1.0	803 (-10%)	7mo	$250,000	$311	52
511 E Euclid Ave	0.54mi	3/1.0 (+1)	983 (+10%)	2mo	$293,999	$299	52
617 E Wabash Ave	0.62mi	2/1.0	808 (-10%)	10mo	$285,000	$353	47
1313 E Walton Ave	0.66mi	2/1.0	792 (-11%)	5mo	$160,000	$202	46
1307 E Bridgeport Ave	0.75mi	2/1.0	774 (-13%)	8mo	$246,267	$318	36

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 · 3.25% rent growth · sell at horizon

5-year hold

• IRR: -32.0%
• Equity multiple: -0.05×
• Total profit: $-66,332
• Equity at exit: $33,623

10-year hold

• IRR: -35.6%
• Equity multiple: -0.51×
• Total profit: $-95,229
• Equity at exit: $19,497

Cash invested: $63,140 (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 99207

• Home prices YoY: -21.3%
• Rents YoY: 3.2%
• Active inventory: 236
• Price-to-rent: 14.4×

Monthly cashflow live

• Estimated rent: $1,304 high
• Mortgage (P&I): −$1,183
• Tax from tax record: −$226 /mo · $2,715/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $-473

Break-even live

Break-even rent $1,902

Max offer price $141,999

Occupancy floor —

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: $56,375
• Closing costs: $6,765
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
709 E Kiernan Ave Spokane, WA	1.0	1.0	728	$1,250	$1.72	23d	1	0.33mi
911 E Bridgeport Ave Unit A Spokane, WA	2.0	1.0	800	$1,120	$1.40	23d	1	0.55mi
120 E Euclid Ave Unit 3 Spokane, WA	2.0	1.0	640	$1,095	$1.71	23d	1	0.56mi
139 W Gray Ct Unit 110 Spokane, WA	2.0	1.0	935	$1,295	$1.39	23d	1	0.60mi
139 W Gray Ct Unit 201 Spokane, WA	1.0	1.0	605	$995	$1.64	23d	1	0.60mi
2915 N Mayfair St Unit 16 Spokane, WA	2.0	1.0	700	$1,050	$1.50	23d	1	0.63mi
2915 N Mayfair St Unit 15 Spokane, WA	2.0	1.0	700	$1,050	$1.50	14d	1	0.63mi
155 E Cleveland Ave Spokane, WA	2.0	2.0	830	$1,395	$1.68	23d	1	0.64mi
2918 N Hamilton St Spokane, WA	2.0	1.0	672	$1,495	$2.22	23d	1	0.74mi
3909 N Wall St Spokane, WA	1.0–2.0	1.0–2.0	775	$2,340	$3.02	14d	4	0.80mi
951 W Walton Ave Spokane, WA	1.0	1.0	601	$1,450	$2.41	14d	10	0.94mi
824 E North Ave Unit 824 Spokane, WA	2.0	1.0	770	$1,195	$1.55	23d	1	0.99mi
2914 N Hogan St Spokane, WA	2.0	1.0	650	$1,100	$1.69	23d	1	1.04mi
1104 W Kiernan Ave Unit 02 Spokane, WA	2.0	1.0	585	$1,100	$1.88	23d	1	1.10mi
406 E Montgomery Ave Spokane, WA	1.0	1.0	490	$986	$2.01	14d	3	1.10mi
1503 E Marietta Ave Spokane, WA	2.0	1.5	993	$1,775	$1.79	14d	1	1.19mi
220 E Ermina Ave Apt 1 Spokane, WA	1.0	1.0	805	$1,050	$1.30	23d	1	1.19mi
1910 E Wellesley Ave Unit 1912 Spokane, WA	2.0	1.0	800	$1,125	$1.41	23d	1	1.20mi
827 E Ermina Ave Unit 5 Spokane, WA	1.0	1.0	650	$1,075	$1.65	23d	1	1.24mi
827 E Ermina Ave Unit 1 Spokane, WA	2.0	1.0	850	$1,150	$1.35	23d	1	1.24mi
2213 N Perry St Spokane, WA	2.0	1.0	672	$950	$1.41	23d	1	1.26mi
2018 N Cincinnati St Rm 1 Spokane, WA	3.0	1.0	820	$625	$0.76	23d	1	1.27mi
6018 N Ruby St #8 Spokane, WA	2.0	1.0	600	$995	$1.66	14d	1	1.32mi
6029 N Mayfair St Unit 7 Spokane, WA	1.0	1.0	725	$1,025	$1.41	14d	1	1.33mi
1601 E Illinois Ave Unit 1603 Spokane, WA	2.0	1.0	840	$1,295	$1.54	23d	1	1.33mi
6107 N Standard St Spokane, WA	2.0	1.5	850	$2,350	$2.76	23d	1	1.37mi
911 E Indiana Ave #7 Spokane, WA	2.0	1.0	600	$1,095	$1.82	21d	1	1.38mi
6203 N Astor St Unit 2 Spokane, WA	2.0	1.5	1100	$1,400	$1.27	21d	1	1.40mi
6203 N Astor St Spokane, WA	2.0	1.0	1100	$1,400	$1.27	14d	1	1.40mi
3218 N Maple St Spokane, WA	2.0	1.0	660	$1,495	$2.27	14d	1	1.44mi
3010 N Stone St Unit 6 Spokane, WA	2.0	1.0	800	$1,300	$1.62	23d	1	1.46mi

Listing history 2 events

1. 2026-06-10
   remarks 333-char remark
2. 2026-06-10
   listed $225,500 Pending

ⓘ 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: $2,715 · $226/mo
• Projected year-2 tax: $2,715 · $226/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 19 unhealthy d/yr today · 21 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,647
• − Mortgage interest: −$12,632
• − Property taxes: −$2,715
• − Insurance: −$1,128
• − Repairs & maintenance: −$1,252
• − Management: −$1,252
• − Depreciation: −$6,560
• Taxable loss: −$9,891
• Est. tax savings @ 24.0%: +$2,374
• After-tax cash flow: $-3,298/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: Spokane School District
• NCES district ID: 5308250
• Math proficiency: 47% ▲ 1.00%
• Reading proficiency: 58% ▲ 1.00%
• Median HH income: $43,187
• Composite: 46.1/100
• National rank: #5477
• State rank: #136 of 291 in WA

Livability — Spokane

• Score: 80/100
• State rank: #93
• US rank: #1822

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Spokane, WA
• County: Spokane County · 496,401 people
• City population: 298,820
• Metro: Spokane-Spokane Valley, WA
• Population (ZIP): 32,770
• Household income: $60,452
• Rent vs Own: 42.4% rent · 57.6% own
• Severe rent burden: 1557.0

Population outlook (Spokane County) Hauer SSP2

• Today (2025): 531,314 people
• By 2030: 549,278 · +3.4%
• By 2040: 577,822 · +8.8%
• By 2050: 598,188 · +12.6%
• By 2075: 630,744 · +18.7%
• By 2100: 622,360 · +17.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Two or more races 10% Hispanic / Latino 8% Black 4% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 3% Lithuanian 3% Slovak 3%
• Foreign-born: 6% · Canada, Vietnam, Philippines
• Languages at home: 90% English-only · Spanish 3% Russian/Polish/Slavic 1% Other Asian/Pacific 1%

Political lean MEDSL · Spokane

• 2024 margin: Toss-up / Even · D 46.0% · R 51.0% · Other 3.0%
• 2008→2024 swing: -3.8pp toward R · 2008: -1.1pp · 2024: -5.0pp
• All cycles: 2024: R+5.0 2020: R+4.3 2016: R+8.3 2012: R+6.3 2008: R+1.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -103.43%
• Current HPI: 381.758
• Rent YoY: ▲ 3.25%
• Metro: Spokane-Spokane Valley, 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

+63.4% since first listed

3 events — show timeline

• 2026-06-09 Listed $225,500 SPOKANEMLS as Distributed by MLS Grid
• 2026-06-09 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2018-01-22 Sold (Public Records) $138,000 Public Records

Property tax history

+6.9%/yr

Latest (2026): $2,715 · +6.3% YoY. Source: county tax records.