3103 E Vicksburg Ln · Mead, WA 99021

$135,000

3 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 33 Days on market

Built 1993 Est $146k · 8% under ↓ 5% since listing

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +11.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +6.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This beautifully maintained 2 bedroom, 2 bath home in Shenandoah Forest Park offers 1,344 square feet of style and functionality. The open floor plan is ideal for entertaining, featuring a large living area with a spacious kitchen and dining room. Large windows across the entire living room and kitchen bring the outdoors in and offer generous natural light. The primary bedroom with en-suite is very spacious and has a private feel. Enjoy year-round comfort with central air conditioning & forced air heat. The property sits on a landscaped lot overlooking open space and the park features walking trails, a playground, and even a 5-hole golf course. The nearby community Clubhouse hosts regular events including BBQs, bingo and billiards; a perfect blend of entertainment and outdoor recreation. Check out this link showing all the park has to offer: https://www. shenandoahforesthomes.com

Key facts

• Open floor plan
• Large living area
• Community clubhouse

Tags

• OPEN FLOOR PLAN
• LARGE LIVING AREA
• SPACIOUS KITCHEN
• LANDSCAPED LOT
• WALKING TRAILS
• COMMUNITY CLUBHOUSE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $135k.

Deal economics

• At list price, monthly cash flow is $855 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.9% vs local median 2.3% in Mead — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 63/100 on livability (#388 in WA) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, schools B+; Watch: amenities F, commute F.
• Mead School District (suburban): math 63% / reading 72% proficiency, ranked #23 of 291 in WA (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 91 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $933 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $8k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $130,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 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. 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?
4. 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.
5. 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.
6. 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: 1.68% ✓
• Cap rate: 13.89%
• Cash-on-cash: 27.13%
• DSCR: 2.21
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $146,496
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3117 E Vicksburg Ln	0.02mi	3/2.0	1,288 (-4%)	15mo	$125,000	$97	79
3307 E Valley Forge Ln	0.13mi	3/2.0	1,296 (-4%)	11mo	$135,000	$104	79
3420 E Georgia Pines Ln	0.22mi	3/2.0	1,400 (+4%)	6mo	$118,800	$85	78
14719 N Farragut Ln	0.11mi	3/2.0	1,215 (-10%)	4mo	$150,000	$123	76
14622 N Chattanooga Ln	0.17mi	3/2.0	1,279 (-5%)	12mo	$228,000	$178	74
3407 E Valley Forge Ln	0.19mi	3/2.0	1,260 (-6%)	12mo	$150,000	$119	71
14726 N Surrey Ln	0.28mi	2/2.0 (-1)	1,344 (0%)	14mo	$155,000	$115	71
3110 E Vicksburg Ln	0.02mi	3/2.0	1,528 (+14%)	10mo	$114,000	$75	68
3407 E Yankee Ln	0.20mi	3/2.0	1,456 (+8%)	11mo	$158,500	$109	68
14825 N Dixie Ln	0.15mi	2/2.0 (-1)	1,232 (-8%)	9mo	$145,000	$118	66
15005 N Surrey Ln	0.24mi	2/2.0 (-1)	1,456 (+8%)	6mo	$137,500	$94	64
3320 E Valley Forge Ln	0.16mi	3/2.0	1,176 (-12%)	12mo	$125,000	$106	62

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.1%
• Equity multiple: 1.86×
• Total profit: $32,589
• Equity at exit: $20,129

10-year hold

• IRR: 29.3%
• Equity multiple: 3.61×
• Total profit: $98,606
• Equity at exit: $11,672

Cash invested: $37,800 (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 99021

• Home prices YoY: -18.1%
• Active inventory: 91
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $2,263 medium
• Mortgage (P&I): −$708
• Tax est. 1.5%: −$169 /mo · $2,025/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$475
• Net cashflow: $855

Break-even live

Break-even rent $1,181

Max offer price $135,000

Occupancy floor 57%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2228 E Winger Rd Spokane, WA	3.0	2.0	1500	$2,150	$1.43	44d	1	1.09mi
1019 E Brooklawn Dr Spokane, WA	3.0	2.0	1480	$2,400	$1.62	14d	1	1.35mi

Listing history 18 events

1. 2026-06-18
   days on market $135,000 Active 33 DOM
2. 2026-06-17
   days on market $135,000 Active 32 DOM
3. 2026-06-16
   pricedays on market $135,000 Active 31 DOM
4. 2026-06-15
   days on market $142,500 Active 30 DOM
5. 2026-06-14
   days on market $142,500 Active 28 DOM
6. 2026-06-13
   days on market $142,500 Active 27 DOM
7. 2026-06-10
   days on market $142,500 Active 25 DOM
8. 2026-06-09
   days on market $142,500 Active 24 DOM
9. 2026-06-08
   days on market $142,500 Active 23 DOM
10. 2026-06-07
    days on market $142,500 Active 22 DOM
11. 2026-06-03
    days on market $142,500 Active 18 DOM
12. 2026-06-02
    days on market $142,500 Active 17 DOM
13. 2026-06-01
    days on market $142,500 Active 16 DOM
14. 2026-05-31
    days on market $142,500 Active 15 DOM
15. 2026-05-31
    days on market $142,500 Active 14 DOM
16. 2026-05-16
    historical

    Show marketing remark (898 chars)

    This beautifully maintained 2 bedroom, 2 bath home in Shenandoah Forest Park offers 1,344 square feet of style and functionality. The open floor plan is ideal for entertaining, featuring a large living area with a spacious kitchen and dining room. Large windows across the entire living room and kitchen bring the outdoors in and offer generous natural light. The primary bedroom with en-suite is very spacious and has a private feel. Enjoy year-round comfort with central air conditioning & forced air heat. The property sits on a landscaped lot overlooking open space and the park features walking trails, a playground, and even a 5-hole golf course. The nearby community Clubhouse hosts regular events including BBQs, bingo and billiards; a perfect blend of entertainment and outdoor recreation. Check out this link showing all the park has to offer: https://www. shenandoahforesthomes.com

17. 2026-05-16
    listed $142,500 Active 898-char remark

    Show marketing remark (898 chars)

    This beautifully maintained 2 bedroom, 2 bath home in Shenandoah Forest Park offers 1,344 square feet of style and functionality. The open floor plan is ideal for entertaining, featuring a large living area with a spacious kitchen and dining room. Large windows across the entire living room and kitchen bring the outdoors in and offer generous natural light. The primary bedroom with en-suite is very spacious and has a private feel. Enjoy year-round comfort with central air conditioning & forced air heat. The property sits on a landscaped lot overlooking open space and the park features walking trails, a playground, and even a 5-hole golf course. The nearby community Clubhouse hosts regular events including BBQs, bingo and billiards; a perfect blend of entertainment and outdoor recreation. Check out this link showing all the park has to offer: https://www. shenandoahforesthomes.com

18. 2026-02-15
    listed $150,000 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 17 unhealthy d/yr today · 20 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,153
• − Mortgage interest: −$7,562
• − Property taxes: −$2,025
• − Insurance: −$675
• − Repairs & maintenance: −$2,172
• − Management: −$2,172
• − Depreciation: −$3,927
• Taxable income: $8,619
• Est. tax owed @ 24.0%: −$2,069
• After-tax cash flow: $8,187/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: Mead School District
• NCES district ID: 5304920
• Math proficiency: 63% ▲ 1.00%
• Reading proficiency: 72% ▲ 1.00%
• Median HH income: $64,176
• Composite: 59.93/100
• National rank: #1811
• State rank: #23 of 291 in WA

Livability — Mead

• Score: 63/100
• State rank: #388
• US rank: #15310

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mead, WA
• Population (ZIP): 9,226

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 7% Two or more races 5% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 5% Portuguese 5% Scottish 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Russian/Polish/Slavic 1% Spanish 1% Tagalog/Filipino 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: ▼ -78.33%
• Current HPI: 354.3985
• Rent YoY: —
• Metro: —
• 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

-5.0% since first listed

3 events — show timeline

• 2026-05-16 Listed $142,500 SPOKANEMLS as Distributed by MLS Grid
• 2026-05-16 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2026-02-15 Listed $150,000 SPOKANEMLS as Distributed by MLS Grid