35717 N Spotted Rd #25

Clayton, WA 99110

$49,500B+

2 bd · 1.0 ba · 784 sqft · Built 1979 · Manufactured · Pending · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $961/mo
• Mortgage (P&I): −$260
• Tax + insurance: −$41
• HOA: −$0
• Vac / Maint / Mgmt: −$202
• Net cashflow: $458/mo
• Annual: $5,498/yr
• Cap rate: 17.40%
• Cash-on-cash: 39.67%
• DSCR: 2.77
• 1% rule: 1.94%
• Cash to close: $13,860

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $50k.
• At list price, monthly cash flow is $458 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($961 rent vs $50k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-1.4%/yr); year-one equity from $342 of loan paydown is wiped out by about $678 of value loss. Plan a longer hold.
• Location reads 48/100 on livability (#585 in WA) — a working-class tenant base; expect higher turnover. Strengths: crime A, cost of living B; Watch: employment D+, amenities F, commute F.
• Deer Park School District (rural): math 52% / reading 66% proficiency, ranked #74 of 291 in WA (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Arcadia Elementary (466 students, 56% FRL); Deer Park High School (716 students, 52% FRL).
• Market conditions: 25 active listings in the ZIP; 3,608 units permitted in Spokane County in 2024 (1,792 in 5+ unit buildings).
• Spokane County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (-1.4% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.
• 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.