123 S Treeline St · Airway Heights, WA 99001

$285,000

2 bd · 1.0 ba · 1,100 sqft · SingleFamily public records · 41 Days on market

Built 2021 $259/sqft · 24% below area Est $374k · 24% under ↓ 42% since listing

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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).

• ARV discount +15.0/15.0
• Appreciation +5.3/10.0
• Cash flow +5.1/30.0
• Schools +4.6/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.4/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Welcome home! Step into this stunning home where vaulted ceilings and expansive windows create a bright and open atmosphere. Built in 2021, this 1,100 sq. ft. home boasts a spacious layout designed for comfortable living. The modern kitchen features sleek cabinetry, ample counter space, and stainless steel appliances, perfect for cooking and entertaining. Large bedrooms and an open concept living area bathed in natural light, make this home a warm and inviting space! This home has been perfectly maintained! Outside, enjoy the fully fenced large backyard, ideal for pets, gardening, or hosting summer barbecues. Off-street parking ensures easy access, and the home is conveniently located near parks, schools, shopping, and dining. With stylish finishes and a move-in-ready feel, this home is a must-see!

Key facts

• Expansive windows
• Stylish kitchen
• Vaulted ceilings

Tags

• VAULTED CEILINGS
• EXPANSIVE WINDOWS
• STYLISH KITCHEN
• STAINLESS STEEL APPLIANCES
• FULLY FENCED BACKYARD
• OFF-STREET PARKING

Property features AI

Finance

• Other: Zoned R-3
• HOA & community: HOA present

Exterior

• Parking: Slab parking; Off-site parking
• Utilities: Xfinity internet
• Home design: Single-family residence; One-story
• Construction: Siding exterior; Composition roof
• Exterior features: Patio; Fenced yard; Automatic sprinkler system; Level lot; Located within about 6 blocks of city bus

Interior

• Kitchen: Free-standing range; Dishwasher; Refrigerator; Disposal; Microwave
• Bedrooms: 2 bedrooms
• Heating & cooling: Electric heating; Heat pump
• Interior features: Utility room; Crawl space basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $285k.

Deal economics

• At list price, monthly cash flow is $-655 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $169k (40.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $154k (46.1% below list).
• Recommended offer: $154k (46.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 73/100 on livability (#204 in WA) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: crime F, amenities D-.
• Cheney School District (town): math 47% / reading 56% proficiency, ranked #140 of 291 in WA (top 48%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Sunset Elementary (588 students, 74% FRL); Westwood Middle School (585 students, 61% FRL); Cheney Open Doors (9 students, 33% FRL) — zoned schools average 56% FRL vs 40% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 59 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 3,608 units permitted in Spokane County in 2024 (1,792 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($2k loan paydown + $2k appreciation (0.7% local appreciation)).
• Spokane County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($276k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

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

Recommended offer $153,672 (46.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 46% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
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: 0.54% ✗
• Cap rate: 3.54%
• Cash-on-cash: -9.85%
• DSCR: 0.56
• GRM: 15.5

CMA / ARV

• ARV (median comp): $373,915
• List price: $285,000
• Delta: -23.78%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12611 W 1st Ave	0.37mi	2/2.0	1,032 (-6%)	3mo	$341,000	$330	66
12424 W 2nd Ave	0.45mi	3/2.0 (+1)	1,148 (+4%)	2mo	$342,500	$298	61
1011 S Campbell St	0.72mi	2/2.0	1,148 (+4%)	1mo	$315,000	$274	54
12712 W 11th Ave	0.69mi	3/2.0 (+1)	1,134 (+3%)	1mo	$332,000	$293	53
1113 S Lundstrom St	0.65mi	2/1.0	1,035 (-6%)	9mo	$300,000	$290	52
12605 W Tower Ave	0.40mi	3/2.0 (+1)	1,234 (+12%)	2mo	$364,000	$295	50
12715 W 10th Ave	0.67mi	3/2.0 (+1)	1,134 (+3%)	5mo	$324,500	$286	50
12513 W 10th Ave	0.75mi	3/2.0 (+1)	1,134 (+3%)	2mo	$326,000	$287	50
12425 W 2nd Ave	0.46mi	3/2.0 (+1)	1,232 (+12%)	2mo	$360,397	$293	48
412 S Campbell St	0.40mi	3/2.0 (+1)	1,224 (+11%)	7mo	$337,990	$276	48
12612 W 5th Ave	0.45mi	3/2.0 (+1)	1,244 (+13%)	2mo	$334,000	$268	47
12411 W 2nd Ave	0.49mi	3/2.0 (+1)	1,244 (+13%)	2mo	$350,000	$281	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.68% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -10.4%
• Equity multiple: 0.49×
• Total profit: $-40,861
• Equity at exit: $92,560

10-year hold

• IRR: -4.4%
• Equity multiple: 0.48×
• Total profit: $-41,323
• Equity at exit: $119,423

Cash invested: $79,800 (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 99001

• Home prices YoY: 0.2%
• Active inventory: 59
• Price-to-rent: 15.5×

Monthly cashflow live

• Estimated rent: $1,537 high
• Mortgage (P&I): −$1,495
• Tax from tax record: −$255 /mo · $3,065/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $-655

Break-even live

Break-even rent $2,366

Max offer price $169,334

Occupancy floor —

Sensitivity live

Price	-10% $-493	-5% $-574	+0% $-655	+5% $-735	+10% $-816
Rent	-10% $-776	-5% $-715	+0% $-655	+5% $-594	+10% $-533
Rate	-1.0pp $-511	-0.5pp $-582	base $-655	+0.5pp $-729	+1.0pp $-804

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13660 W 6th Ave Airway Heights, WA	2.0–3.0	2.0	1152	$995	$0.86	15d	1	0.41mi
12501 W 6th Ave Airway Heights, WA	1.0–3.0	1.0–2.0	1033	$1,888	$1.83	15d	10	0.61mi
802 S Garfield Rd Airway Heights, WA	3.0	1.0–2.0	870	$1,567	$1.80	15d	12	0.70mi
Airway Townhomes Garfield, Chandler, & Avalon Airway Heights, WA	3.0	2.0	1498	$1,745	$1.16	15d	3	0.78mi
12406 W 11th Ave Airway Heights, WA	3.0	2.0	1350	$2,000	$1.48	45d	1	0.79mi
13914 W Redding Dr Unit A Airway Heights, WA	2.0	1.0	780	$1,225	$1.57	15d	1	0.81mi
831 S Avalon St Airway Heights, WA	3.0	3.0	1442	$1,895	$1.31	15d	1	0.81mi
1804 S Lawson St Unit 407 Airway Heights, WA	1.0	1.0	800	$1,195	$1.49	45d	1	1.14mi
1808 S Lawson St Unit 409 Airway Heights, WA	2.0	1.0	800	$1,045	$1.31	45d	1	1.16mi
304 S Kalispel Way Airway Heights, WA	1.0–3.0	1.0–2.0	1018	$1,694	$1.66	15d	11	1.21mi
11103 W 6th Ave Airway Heights, WA	2.0	1.0–2.0	768	$1,555	$2.02	15d	1	1.35mi

Listing history 23 events

1. 2026-06-22
   days on market $285,000 Active 41 DOM
2. 2026-06-18
   days on market $285,000 Active 38 DOM
3. 2026-06-17
   days on market $285,000 Active 37 DOM
4. 2026-06-16
   days on market $285,000 Active 36 DOM
5. 2026-06-15
   days on market $285,000 Active 35 DOM
6. 2026-06-14
   days on market $285,000 Active 33 DOM
7. 2026-06-13
   days on market $285,000 Active 32 DOM
8. 2026-06-10
   days on market $285,000 Active 30 DOM
9. 2026-06-09
   days on market $285,000 Active 29 DOM
10. 2026-06-08
    days on market $285,000 Active 28 DOM
11. 2026-06-07
    days on market $285,000 Active 27 DOM
12. 2026-06-05
    days on market $285,000 Active 24 DOM
13. 2026-06-03
    days on market $285,000 Active 23 DOM
14. 2026-06-02
    days on market $285,000 Active 22 DOM
15. 2026-06-01
    days on market $285,000 Active 21 DOM
16. 2026-05-31
    days on market $285,000 Active 20 DOM
17. 2026-05-31
    days on market $285,000 Active 19 DOM
18. 2026-05-11
    listed $285,000 Active 872-char remark
19. 2025-06-06
    soldstatus $284,500 Closed 812-char remark

    Show marketing remark (812 chars)

    Welcome home! Step into this stunning home where vaulted ceilings and expansive windows create a bright and open atmosphere. Built in 2021, this 1,100 sq. ft. home boasts a spacious layout designed for comfortable living. The modern kitchen features sleek cabinetry, ample counter space, and stainless steel appliances, perfect for cooking and entertaining. Large bedrooms and an open concept living area bathed in natural light, make this home a warm and inviting space! This home has been perfectly maintained! Outside, enjoy the fully fenced large backyard, ideal for pets, gardening, or hosting summer barbecues. Off-street parking ensures easy access, and the home is conveniently located near parks, schools, shopping, and dining. With stylish finishes and a move-in-ready feel, this home is a must-see!

20. 2025-06-06
    soldstatus $284,500

    Show marketing remark (812 chars)

    Welcome home! Step into this stunning home where vaulted ceilings and expansive windows create a bright and open atmosphere. Built in 2021, this 1,100 sq. ft. home boasts a spacious layout designed for comfortable living. The modern kitchen features sleek cabinetry, ample counter space, and stainless steel appliances, perfect for cooking and entertaining. Large bedrooms and an open concept living area bathed in natural light, make this home a warm and inviting space! This home has been perfectly maintained! Outside, enjoy the fully fenced large backyard, ideal for pets, gardening, or hosting summer barbecues. Off-street parking ensures easy access, and the home is conveniently located near parks, schools, shopping, and dining. With stylish finishes and a move-in-ready feel, this home is a must-see!

21. 2025-05-12
    status Pending 812-char remark

    Show marketing remark (812 chars)

    Welcome home! Step into this stunning home where vaulted ceilings and expansive windows create a bright and open atmosphere. Built in 2021, this 1,100 sq. ft. home boasts a spacious layout designed for comfortable living. The modern kitchen features sleek cabinetry, ample counter space, and stainless steel appliances, perfect for cooking and entertaining. Large bedrooms and an open concept living area bathed in natural light, make this home a warm and inviting space! This home has been perfectly maintained! Outside, enjoy the fully fenced large backyard, ideal for pets, gardening, or hosting summer barbecues. Off-street parking ensures easy access, and the home is conveniently located near parks, schools, shopping, and dining. With stylish finishes and a move-in-ready feel, this home is a must-see!

22. 2025-04-17
    listed $279,900 Active 812-char remark

    Show marketing remark (812 chars)

    Welcome home! Step into this stunning home where vaulted ceilings and expansive windows create a bright and open atmosphere. Built in 2021, this 1,100 sq. ft. home boasts a spacious layout designed for comfortable living. The modern kitchen features sleek cabinetry, ample counter space, and stainless steel appliances, perfect for cooking and entertaining. Large bedrooms and an open concept living area bathed in natural light, make this home a warm and inviting space! This home has been perfectly maintained! Outside, enjoy the fully fenced large backyard, ideal for pets, gardening, or hosting summer barbecues. Off-street parking ensures easy access, and the home is conveniently located near parks, schools, shopping, and dining. With stylish finishes and a move-in-ready feel, this home is a must-see!

23. 2020-10-30
    soldstatus $490,000

ⓘ 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: $3,065 · $255/mo
• Projected year-2 tax: $3,065 · $255/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 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 14 unhealthy d/yr today · 15 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,441
• − Mortgage interest: −$15,964
• − Property taxes: −$3,065
• − Insurance: −$1,425
• − Repairs & maintenance: −$1,475
• − Management: −$1,475
• − Depreciation: −$8,291
• Taxable loss: −$13,256
• Est. tax savings @ 24.0%: +$3,181
• After-tax cash flow: $-4,676/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: Cheney School District
• NCES district ID: 5301230
• Math proficiency: 47% ▲ 1.00%
• Reading proficiency: 56% ▲ 1.00%
• Median HH income: $46,800
• Composite: 45.66/100
• National rank: #5637
• State rank: #140 of 291 in WA

Livability — Airway Heights

• Score: 73/100
• State rank: #204
• US rank: #5600

Category grades

Amenities D- Commute A+ Cost of living A- 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: Airway Heights, WA
• County: Spokane County · 496,401 people
• City population: 9,440
• Metro: Spokane-Spokane Valley, WA
• Population (ZIP): 9,440
• Household income: $62,518
• Rent vs Own: 67.9% rent · 32.1% own
• Severe rent burden: 345.0

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: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 57% Two or more races 12% Hispanic / Latino 10% Black 7% Asian 6% Pacific Islander 5% Native American 4%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2%
• Common ancestry: Italian 5% Czech 2% Slovak 2%
• Foreign-born: 9% · Canada, South Korea, China
• Languages at home: 83% English-only · Spanish 4% Tagalog/Filipino 3% Arabic 3%

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: ▲ 0.68%
• Current HPI: 333.0166
• Rent YoY: —
• 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

-41.8% since first listed

6 events — show timeline

• 2026-05-11 Listed $285,000 SPOKANEMLS as Distributed by MLS Grid
• 2025-06-06 Sold (Public Records) $284,500 Public Records
• 2025-06-06 Sold (MLS) $284,500 SPOKANEMLS as Distributed by MLS Grid
• 2025-05-12 Pending — SPOKANEMLS as Distributed by MLS Grid
• 2025-04-17 Listed $279,900 SPOKANEMLS as Distributed by MLS Grid
• 2020-10-30 Sold (Public Records) $490,000 Public Records

Property tax history

+45.0%/yr

Latest (2026): $3,065 · +4.0% YoY. Source: county tax records.