11007 E Fairview Ave #11009 · Spokane Valley, WA 99206

$300,000

4 bd · 2.0 ba · 1,512 sqft · MultiFamily · 5 Days on market

Built 1977 Average condition 0.31 ac lot

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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).

• Cash flow +17.1/30.0
• ARV discount +7.5/15.0
• DSCR +5.3/10.0
• 1% rule +4.6/10.0
• Schools +4.3/10.0
• Livability +4.2/5.0
• Rent growth +3.1/5.0
• Condition / age +2.8/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

This rental duplex is a small single level side by side two unit complex in a Spokane Valley neighborhood. Each unit has a carport and storage. And each unit features 2 bedrooms and 1 bathroom. The washer/dryer and refrigerators stay with each rental unit. Each tenant has been there for more than 10 years. Both tenants are month to month.

Key facts

• 0.31 acre lot
• 2 parking spots
• Built 1977

Property features AI

Finance

• Financial info: Rental income / residential income classification; Two-unit property (total 2 units)

Exterior

• Parking: Attached carport; Two carport spaces
• Utilities: Public records list living/building area
• Home design: Residential income property; One-story building
• Construction: Stone veneer and siding exterior; Composition roof
• Exterior features: Corner lot; City street frontage

Interior

• Kitchen: Free-standing range; Refrigerator
• Bedrooms: Two 2-bedroom units (one 2-bed unit and a second 2-bed unit)
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Electric baseboard heating
• Interior features: Free-standing range; Refrigerator; Washer; Dryer
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $300k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $211 ($3k/yr) — positive. Per door: $105/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $289k (3.6% below list).
• Recommended offer: $289k (3.6% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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.
• Zoned schools: Trent School (496 students, 92% FRL); East Valley High School (957 students, 58% FRL) — zoned schools average 75% FRL vs 45% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.4%/yr); 303 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,608 units permitted in Spokane County in 2024 (1,792 in 5+ unit buildings).
• This rent runs 42% of the median local income ($82k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $289,100 (3.6% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.96% ✗
• Cap rate: 7.14%
• Cash-on-cash: 3.01%
• DSCR: 1.13
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.44% rent growth · sell at horizon

5-year hold

• IRR: -12.2%
• Equity multiple: 0.56×
• Total profit: $-36,772
• Equity at exit: $44,731

10-year hold

• IRR: -3.9%
• Equity multiple: 0.75×
• Total profit: $-21,140
• Equity at exit: $25,939

Cash invested: $84,000 (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 99206

• Rents YoY: 2.4%
• Active inventory: 303
• Price-to-rent: 17.3×

Monthly cashflow live

• Estimated rent: $2,891 high
• Mortgage (P&I): −$1,573
• Tax est. 1.5%: −$375 /mo · $4,500/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$607
• Net cashflow: $211

Break-even live

Break-even rent $2,624

Max offer price $300,000

Occupancy floor 88%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,890
Total (2 units)			$2,891

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2705 N Robie Ct Spokane Valley, WA	3.0	1.5	1420	$1,900	$1.34	14d	1	0.72mi
2605 N Robie Rd Spokane Valley, WA	2.0–3.0	2.0	1136	$1,205	$1.06	44d	1	0.77mi
11719 E Nora Ave Unit 11719 Spokane Valley, WA	3.0	2.0	1526	$1,695	$1.11	14d	1	0.95mi
2721 N Cherry St Spokane Valley, WA	2.0–3.0	2.0	1152	$1,594	$1.38	14d	1	0.96mi
2820 N Cherry St Spokane Valley, WA	2.0–3.0	1.0–2.0	963	$1,634	$1.70	14d	4	0.96mi
1703 N Walnut Rd Spokane Valley, WA	4.0	2.0	2016	$2,450	$1.22	14d	1	1.07mi
10317 E Maxwell Ave Unit 10317 Spokane Valley, WA	4.0	2.5	1600	$1,995	$1.25	44d	1	1.09mi
1306 N Van Marter Rd Spokane Valley, WA	3.0	2.0	1709	$2,195	$1.28	23d	1	1.12mi
1019 N Woodward Rd Spokane Valley, WA	3.0	1.0	1500	$1,795	$1.20	23d	1	1.27mi
12925 E Mansfield Ave Spokane Valley, WA	1.0–3.0	1.0–2.0	897	$1,717	$1.91	14d	33	1.33mi
11813 E Broadway Ave Spokane Valley, WA	3.0	1.0–2.0	918	$1,826	$1.99	14d	26	1.42mi

Listing history 4 events

1. 2026-05-31
   status $300,000 Pending 5 DOM
2. 2026-05-31
   days on market $300,000 Active 5 DOM
3. 2026-05-31
   days on market $300,000 Active 4 DOM
4. 2026-05-26
   listed $300,000 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 6/10 Major
• 🌡 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 · 17 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,692
• − Mortgage interest: −$16,805
• − Property taxes: −$4,500
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,775
• − Management: −$2,775
• − Depreciation: −$8,727
• Taxable loss: −$2,391
• Est. tax savings @ 24.0%: +$574
• After-tax cash flow: $3,102/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.

Condition & rehab AI · 9 photos

Average 55/100 Cosmetic rehab

This rental duplex is in average condition with minor repairs needed. Painting the exterior siding and trimming the lawn would significantly improve its curb appeal and increase its value.

Repairs flagged

• Minor Landscaping — The lawn appears slightly overgrown and could benefit from trimming.

Value-add opportunities

• Both Painting the exterior siding — Painting the exterior siding can improve the curb appeal and increase both resale and rental value.
• Both Trimming the lawn — A well-maintained lawn can improve the overall appearance of the property and attract more tenants or buyers.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Landscaping · The lawn appears slightly overgrown and could benefit from trimming.	Minor	$500–3,000
Total estimated repair cost · 1 items		$500–3,000

Value-add ROI direction

• Both Painting the exterior siding — Painting the exterior siding can improve the curb appeal and increase both resale and rental value. ↑
• Both Trimming the lawn — A well-maintained lawn can improve the overall appearance of the property and attract more tenants or buyers. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• Census place: Spokane Valley, WA
• County: Spokane County · 496,401 people
• City population: 129,511
• Metro: Spokane-Spokane Valley, WA
• Population (ZIP): 41,089
• Household income: $81,764
• Rent vs Own: 38.5% rent · 61.5% own
• Severe rent burden: 1523.0

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 (82%)
• Race & ethnicity: White 82% Two or more races 8% Hispanic / Latino 7% Black 2% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 5% Slovak 3% Lithuanian 3%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 93% 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: ▼ -377.59%
• Current HPI: 339.9959
• Rent YoY: ▲ 2.44%
• 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

1 event — show timeline

• 2026-05-26 Listed $300,000 SPOKANEMLS as Distributed by MLS Grid