1214 E 1st Ave · Spokane, WA 99202

$110,000

1 bd · 1.0 ba · 448 sqft · SingleFamily public records · 433 Days on market

Built 1897 7,100 sqft lot

---

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 +29.1/30.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• Livability +4.0/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This 1-bedroom, 1-bath home is a fantastic opportunity for investors or those looking to bring their vision to life! Conveniently located near downtown Spokane, this property offers great potential with the right updates. Whether you're looking to renovate and occupy or add value through improvements, this home is a blank slate ready for transformation. Property is being sold as-is.

Key facts

• 7,100 sq ft lot
• Built 1897
• Listed 433 days

Property features AI

Exterior

• Parking: No designated parking
• Utilities: Public records list living area and building area
• Home design: Single-family residence; One-story layout; Residential property
• Construction: Vinyl siding; Metal roof; Built-in below-grade finished space
• Exterior features: Level lot; City street frontage

Interior

• Bedrooms: 1 bedroom
• Heating & cooling: Baseboard heating
• Interior features: Partial unfinished basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $381 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 3.2% in Spokane — 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 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.
• Zoned schools: Stevens Elementary (385 students, 91% FRL); North Central High School (1,674 students, 64% FRL) — zoned schools average 77% FRL vs 50% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.5%/yr); 132 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 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 $761 of loan paydown is wiped out by about $3k 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 + 3.5% rent growth), your $31k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 433 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $8k; list at $110k implies a 1275% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1897 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $96,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 433 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1897 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.30% ✓
• Cap rate: 10.45%
• Cash-on-cash: 14.85%
• DSCR: 1.66
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.53% rent growth · sell at horizon

5-year hold

• IRR: 6.0%
• Equity multiple: 1.23×
• Total profit: $7,232
• Equity at exit: $16,401

10-year hold

• IRR: 15.9%
• Equity multiple: 2.32×
• Total profit: $40,783
• Equity at exit: $9,511

Cash invested: $30,800 (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 99202

• Home prices YoY: -19.0%
• Rents YoY: 3.5%
• Active inventory: 132
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,426 high
• Mortgage (P&I): −$577
• Tax from tax record: −$123 /mo · $1,475/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $381

Break-even live

Break-even rent $944

Max offer price $110,000

Occupancy floor 68%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1216 N Superior St Spokane, WA	1.0	1.0	432	$1,650	$3.82	13d	8	0.90mi
123 N Bernard St Spokane, WA	—	1.0	302	$875	$2.90	13d	1	1.15mi
301 W Main Ave Unit 309 Spokane, WA	—	1.0	302	$875	$2.90	23d	1	1.15mi
507 W 5th Ave Spokane, WA	—	1.0	293	$725	$2.47	13d	1	1.35mi
508 W 6th Ave Spokane, WA	2.0	1.0–2.0	761	$3,650	$4.79	13d	28	1.35mi

Listing history 18 events

1. 2026-06-18
   days on market $110,000 Active 433 DOM
2. 2026-06-17
   days on market $110,000 Active 432 DOM
3. 2026-06-16
   days on market $110,000 Active 431 DOM
4. 2026-06-15
   days on market $110,000 Active 430 DOM
5. 2026-06-14
   days on market $110,000 Active 428 DOM
6. 2026-06-10
   pricedays on market $110,000 Active 425 DOM
7. 2026-06-09
   days on market $118,500 Active 424 DOM
8. 2026-06-08
   days on market $118,500 Active 423 DOM
9. 2026-06-07
   days on market $118,500 Active 422 DOM
10. 2026-06-03
    days on market $118,500 Active 418 DOM
11. 2026-06-02
    days on market $118,500 Active 417 DOM
12. 2026-06-01
    days on market $118,500 Active 416 DOM
13. 2026-05-31
    days on market $118,500 Active 415 DOM
14. 2026-05-31
    days on market $118,500 Active 414 DOM
15. 2026-05-22
    price $118,500
16. 2025-05-14
    price $125,000
17. 2025-04-11
    listed $150,000 Active
18. 1991-07-03
    soldstatus $8,000

ⓘ 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: $1,475 · $123/mo
• Projected year-2 tax: $1,475 · $123/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 · 16 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: $17,116
• − Mortgage interest: −$6,162
• − Property taxes: −$1,475
• − Insurance: −$550
• − Repairs & maintenance: −$1,369
• − Management: −$1,369
• − Depreciation: −$3,200
• Taxable income: $2,991
• Est. tax owed @ 24.0%: −$718
• After-tax cash flow: $3,857/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): 19,921
• Household income: $65,189
• Rent vs Own: 51.7% rent · 48.3% own
• Severe rent burden: 1216.0

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 (74%)
• Race & ethnicity: White 74% Two or more races 10% Hispanic / Latino 10% Asian 4% Black 3% Pacific Islander 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Portuguese 4% Lithuanian 4% Slovak 3%
• Foreign-born: 8% · Canada, Vietnam, Philippines
• Languages at home: 89% English-only · Spanish 3% Russian/Polish/Slavic 2% Other Asian/Pacific 2%

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: ▼ -97.08%
• Current HPI: 412.9574
• Rent YoY: ▲ 3.53%
• 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

+1381.2% since first listed

4 events — show timeline

• 2026-05-22 Price Changed $118,500 SPOKANEMLS as Distributed by MLS Grid
• 2025-05-14 Price Changed $125,000 SPOKANEMLS as Distributed by MLS Grid
• 2025-04-11 Listed $150,000 SPOKANEMLS as Distributed by MLS Grid
• 1991-07-03 Sold (Public Records) $8,000 Public Records

Property tax history

+7.5%/yr

Latest (2026): $1,475 · +8.2% YoY. Source: county tax records.