19625 E Wellesley #28 Ave #28 · Spokane Valley, WA 99027

$65,000

2 bd · 1.0 ba · 728 sqft · Manufactured public records · 157 Days on market

Built 2015 $89/sqft · 14% below area Est $76k · 14% under

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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 +14.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.3/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don’t miss this beautifully updated 2015 mobile home located in the wonderful, well-desired Timberline community. This inviting 2-bedroom, 1-bath home features a large fenced yard—ideal for pets, entertaining, gardening, or enjoying your own private outdoor space. Inside, you’ll love the fresh updates, and modern kitchen that create a bright, functional feel. The brand new furnace adds peace of mind and energy efficiency. Move-in ready and thoughtfully improved, this home is a fantastic opportunity for comfortable, affordable living. Schedule your showing before it’s gone!

Key facts

• Updated mobile home
• Large fenced yard
• Modern kitchen

Tags

• UPDATED MOBILE HOME
• LARGE FENCED YARD
• MODERN KITCHEN
• BRAND NEW FURNACE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $65k.

Deal economics

• At list price, monthly cash flow is $939 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• Cap rate 23.6% vs local median 3.0% in Spokane Valley — 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 85/100 on livability (#31 in WA, #512 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime D+.
• East Valley School District (Spokane) (urban): math 40% / reading 56% proficiency, ranked #160 of 291 in WA (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 57 active listings in the ZIP; 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 $449 of loan paydown is wiped out by about $2k 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 $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 157 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 21y ago; this cycle's ask has dropped $10k (13%) 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 $57,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 157 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 D 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. 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.
7. 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.
8. 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: 2.64% ✓
• Cap rate: 23.63%
• Cash-on-cash: 61.93%
• DSCR: 3.76
• GRM: 3.2

CMA / ARV

• ARV (median comp): $76,000
• List price: $65,000
• Delta: -14.47%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19625 E Wellesley Ave Spc 59	0.07mi	2/1.0	756 (+4%)	3mo	$76,000	$101	88

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: 60.8%
• Equity multiple: 3.71×
• Total profit: $49,300
• Equity at exit: $9,692

10-year hold

• IRR: 65.5%
• Equity multiple: 7.59×
• Total profit: $119,991
• Equity at exit: $5,620

Cash invested: $18,200 (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 99027

• Home prices YoY: -20.5%
• Active inventory: 57
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,716 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$49 /mo · $582/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $939

Break-even live

Break-even rent $527

Max offer price $65,000

Occupancy floor 40%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-18
   days on market $65,000 Active 157 DOM
2. 2026-06-17
   days on market $65,000 Active 156 DOM
3. 2026-06-16
   days on market $65,000 Active 155 DOM
4. 2026-06-15
   days on market $65,000 Active 154 DOM
5. 2026-06-14
   days on market $65,000 Active 152 DOM
6. 2026-06-10
   days on market $65,000 Active 149 DOM
7. 2026-06-09
   days on market $65,000 Active 148 DOM
8. 2026-06-08
   days on market $65,000 Active 147 DOM
9. 2026-06-07
   days on market $65,000 Active 146 DOM
10. 2026-06-05
    days on market $65,000 Active 143 DOM
11. 2026-06-03
    days on market $65,000 Active 142 DOM
12. 2026-06-02
    days on market $65,000 Active 141 DOM
13. 2026-06-01
    days on market $65,000 Active 140 DOM
14. 2026-05-31
    days on market $65,000 Active 139 DOM
15. 2026-05-31
    days on market $65,000 Active 138 DOM
16. 2026-04-06
    price $65,000 603-char remark

    Show marketing remark (603 chars)

    Don’t miss this beautifully updated 2015 mobile home located in the wonderful, well-desired Timberline community. This inviting 2-bedroom, 1-bath home features a large fenced yard—ideal for pets, entertaining, gardening, or enjoying your own private outdoor space. Inside, you’ll love the fresh updates, and modern kitchen that create a bright, functional feel. The brand new furnace adds peace of mind and energy efficiency. Move-in ready and thoughtfully improved, this home is a fantastic opportunity for comfortable, affordable living. Schedule your showing before it’s gone!

17. 2026-02-03
    price $70,000 603-char remark

    Show marketing remark (603 chars)

    Don’t miss this beautifully updated 2015 mobile home located in the wonderful, well-desired Timberline community. This inviting 2-bedroom, 1-bath home features a large fenced yard—ideal for pets, entertaining, gardening, or enjoying your own private outdoor space. Inside, you’ll love the fresh updates, and modern kitchen that create a bright, functional feel. The brand new furnace adds peace of mind and energy efficiency. Move-in ready and thoughtfully improved, this home is a fantastic opportunity for comfortable, affordable living. Schedule your showing before it’s gone!

18. 2026-01-12
    listed $75,000 Active 603-char remark

    Show marketing remark (603 chars)

    Don’t miss this beautifully updated 2015 mobile home located in the wonderful, well-desired Timberline community. This inviting 2-bedroom, 1-bath home features a large fenced yard—ideal for pets, entertaining, gardening, or enjoying your own private outdoor space. Inside, you’ll love the fresh updates, and modern kitchen that create a bright, functional feel. The brand new furnace adds peace of mind and energy efficiency. Move-in ready and thoughtfully improved, this home is a fantastic opportunity for comfortable, affordable living. Schedule your showing before it’s gone!

19. 2024-12-31
    historical
20. 2024-09-23
    price $85,000
21. 2024-08-20
    price $92,000
22. 2024-07-16
    price $95,000
23. 2024-05-09
    price $98,500
24. 2024-04-10
    listed $99,000 Active
25. 2009-01-19
    historical
26. 2008-11-21
    listed $18,500
27. 2008-10-17
    historical
28. 2008-07-16
    listed $21,500
29. 2008-05-23
    historical
30. 2008-04-23
    listed $21,500
31. 2005-06-04
    historical
32. 2005-05-02
    listed $23,000

ⓘ 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: $582 · $49/mo
• Projected year-2 tax: $637 · $53/mo
• Expected delta: +$55/yr (+$5/mo · 9.4%)

ⓘ 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 7/10 Severe
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 15 unhealthy d/yr today · 17 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,595
• − Mortgage interest: −$3,641
• − Property taxes: −$582
• − Insurance: −$325
• − Repairs & maintenance: −$1,648
• − Management: −$1,648
• − Depreciation: −$1,891
• Taxable income: $10,860
• Est. tax owed @ 24.0%: −$2,606
• After-tax cash flow: $8,666/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: East Valley School District (Spokane)
• NCES district ID: 5302280
• Math proficiency: 40% ▼ -5.00%
• Reading proficiency: 56% ▼ -4.00%
• Median HH income: $49,557
• Composite: 43.15/100
• National rank: #6603
• State rank: #160 of 291 in WA

Livability — Spokane Valley

• Score: 85/100
• State rank: #31
• US rank: #512

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 129,511
• Population (ZIP): 5,878

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 (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Slovak 6% Portuguese 3% Lithuanian 2%
• Foreign-born: 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: ▼ -92.71%
• Current HPI: 360.3438
• 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

+182.6% since first listed

17 events — show timeline

• 2026-04-06 Price Changed $65,000 SPOKANEMLS as Distributed by MLS Grid
• 2026-02-03 Price Changed $70,000 SPOKANEMLS as Distributed by MLS Grid
• 2026-01-12 Listed $75,000 SPOKANEMLS as Distributed by MLS Grid
• 2024-12-31 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2024-09-23 Price Changed $85,000 SPOKANEMLS as Distributed by MLS Grid
• 2024-08-20 Price Changed $92,000 SPOKANEMLS as Distributed by MLS Grid
• 2024-07-16 Price Changed $95,000 SPOKANEMLS as Distributed by MLS Grid
• 2024-05-09 Price Changed $98,500 SPOKANEMLS as Distributed by MLS Grid
• 2024-04-10 Listed $99,000 SPOKANEMLS as Distributed by MLS Grid
• 2009-01-19 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2008-11-21 Listed $18,500 SPOKANEMLS as Distributed by MLS Grid
• 2008-10-17 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2008-07-16 Listed $21,500 SPOKANEMLS as Distributed by MLS Grid
• 2008-05-23 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2008-04-23 Listed $21,500 SPOKANEMLS as Distributed by MLS Grid
• 2005-06-04 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2005-05-02 Listed $23,000 SPOKANEMLS as Distributed by MLS Grid

Property tax history

+8.8%/yr

Latest (2026): $582 · +28.9% YoY. Source: county tax records.