1507 W Knox Ave · Spokane, WA 99205

$190,000

2 bd · 2.0 ba · 1,158 sqft · SingleFamily public records

Built 1904 6,000 sqft lot Est $272k · 30% under

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Why this score? — see what drove the C- 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
• Cash flow +14.6/30.0
• Schools +4.6/10.0
• DSCR +4.5/10.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• 6,000 sq ft lot
• Garage
• Built 1904

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $46 ($547/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $146k (23.2% below list).
• Recommended offer: $146k (23.2% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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: Audubon Elementary (396 students, 89% FRL); North Central High School (1,674 students, 64% FRL) — zoned schools average 76% FRL vs 50% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.2%/yr); 324 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 0 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $52k; list at $190k implies a 262% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1904 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,954 (23.2% below list)

Questions for the listing agent

1. Built in 1904 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.77% ✗
• Cap rate: 6.58%
• Cash-on-cash: 1.03%
• DSCR: 1.05
• GRM: 10.8

CMA / ARV

• ARV (on-the-fly): $272,130
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2715 N Ash St	0.47mi	3/2.0 (+1)	1,144 (-1%)	2mo	$287,000	$251	69
1602 W York Ave	0.35mi	3/1.0 (+1)	1,106 (-4%)	5mo	$260,000	$235	63
1408 W Cleveland Ave	0.57mi	3/1.0 (+1)	1,160 (+0%)	3mo	$250,000	$216	62
1023 W Montgomery Ave	0.34mi	2/2.0	1,322 (+14%)	2mo	$344,900	$261	59
1430 W Spofford Ave	0.28mi	3/2.0 (+1)	1,302 (+12%)	3mo	$335,000	$257	58
2815 N Ash St	0.54mi	2/2.0	1,301 (+12%)	2mo	$265,000	$204	53
1718 W Dean Ave	0.71mi	2/1.0	1,105 (-5%)	5mo	$265,000	$240	51
1314 W Cleveland Ave	0.55mi	2/1.0	1,304 (+13%)	1mo	$225,000	$173	49
808 W Carlisle Ave	0.53mi	2/1.0	1,312 (+13%)	3mo	$315,250	$240	46
1528 W Cleveland Ave	0.56mi	3/1.0 (+1)	1,266 (+9%)	3mo	$291,500	$230	46
2226 W Sinto Ave	0.67mi	3/1.0 (+1)	1,100 (-5%)	6mo	$230,000	$209	46
1216 N Madison St	0.63mi	3/2.0 (+1)	1,030 (-11%)	4mo	$215,000	$209	44

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 · 3.23% rent growth · sell at horizon

5-year hold

• IRR: -14.5%
• Equity multiple: 0.48×
• Total profit: $-27,648
• Equity at exit: $28,330

10-year hold

• IRR: -5.6%
• Equity multiple: 0.64×
• Total profit: $-19,363
• Equity at exit: $16,428

Cash invested: $53,200 (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 99205

• Rents YoY: 3.2%
• Active inventory: 324
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,460 high
• Mortgage (P&I): −$996
• Tax from tax record: −$32 /mo · $382/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $46

Break-even live

Break-even rent $1,402

Max offer price $190,000

Occupancy floor 92%

Sensitivity live

Price	-10% $153	-5% $99	+0% $46	+5% $-226	+10% $-291
Rent	-10% $-70	-5% $-12	+0% $46	+5% $103	+10% $161
Rate	-1.0pp $141	-0.5pp $94	base $46	+0.5pp $-4	+1.0pp $-54

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1611 W Augusta Ave Spokane, WA	3.0	3.0	1477	$1,995	$1.35	24d	1	0.29mi
2002 N Monroe St Spokane, WA	1.0	1.0	703	$1,590	$2.26	14d	1	0.41mi
1421 W Maxwell Ave Unit 2 Spokane, WA	1.0	1.0	850	$795	$0.94	24d	1	0.45mi
1802 W Sharp Ave Spokane, WA	2.0	1.0	895	$1,195	$1.34	24d	1	0.57mi
1515 W Sharp Ave Spokane, WA	2.0	1.0	720	$895	$1.24	24d	1	0.58mi
1718 W Boone Ave Unit 4 Spokane, WA	2.0	1.0	780	$1,250	$1.60	14d	1	0.62mi
1916 N Wall St Unit 1924 Spokane, WA	2.0	1.5	1170	$1,750	$1.50	14d	1	0.63mi
2110 W Cleveland Ave Spokane, WA	1.0	1.0	1200	$1,200	$1.00	24d	1	0.65mi
2307 W Cleveland Ave Unit 2 Spokane, WA	1.0	1.0	900	$995	$1.11	14d	1	0.70mi
1405 N Wall St Apt 203 Spokane, WA	1.0	1.0	700	$1,145	$1.64	24d	1	0.74mi
1405 N Wall St Unit 303 Spokane, WA	1.0	1.0	700	$1,295	$1.85	24d	1	0.74mi
1318 W Mallon Ave Unit 302 Spokane, WA	2.0	1.0	750	$1,150	$1.53	24d	1	0.81mi
1212 N Cochran St Spokane, WA	1.0	1.0	1462	$850	$0.58	14d	1	0.85mi
1310 W College Ave Spokane, WA	2.0	2.0	805	$1,890	$2.35	24d	1	0.93mi
2612 W Dean Ave Spokane, WA	2.0	1.0	1181	$2,400	$2.03	14d	1	1.03mi
3027 W Cleveland Ave Spokane, WA	3.0	2.0	1100	$2,500	$2.27	14d	1	1.11mi
714 W Kiernan Ave Unit A Spokane, WA	2.0	1.0	1160	$1,195	$1.03	24d	1	1.19mi
139 W Gray Ct Unit 110 Spokane, WA	2.0	1.0	935	$1,295	$1.39	24d	1	1.23mi
220 E Ermina Ave Apt 1 Spokane, WA	1.0	1.0	805	$1,050	$1.30	24d	1	1.31mi
3909 N Wall St Spokane, WA	1.0–2.0	1.0–2.0	775	$2,340	$3.02	14d	4	1.31mi
1224 W Riverside Ave Unit 808 Spokane, WA	2.0	1.5	935	$2,250	$2.41	24d	1	1.32mi
1224 W Riverside Ave Apt 403 Spokane, WA	1.0	1.0	770	$1,935	$2.51	24d	1	1.32mi
2915 N Mayfair St Unit 15 Spokane, WA	2.0	1.0	700	$1,050	$1.50	14d	1	1.35mi
2915 N Mayfair St Unit 16 Spokane, WA	2.0	1.0	700	$1,050	$1.50	24d	1	1.35mi
1812 W Riverside Ave Spokane, WA	1.0	1.0	800	$1,200	$1.50	24d	1	1.36mi
155 E Cleveland Ave Spokane, WA	2.0	2.0	830	$1,395	$1.68	24d	1	1.38mi
1827 W Riverside Ave Apt 6 Spokane, WA	1.0	1.0	900	$1,125	$1.25	14d	1	1.40mi
2136 W Riverside Ave Spokane, WA	2.0	1.0	590	$1,300	$2.20	14d	9	1.41mi
2112 N Astor St Spokane, WA	3.0	1.0	1400	$1,650	$1.18	24d	1	1.43mi

Listing history 5 events

1. 2026-05-13
   listed $190,000
2. 2026-05-13
   historical
3. 1993-04-26
   soldstatus $52,500
4. 1993-04-26
   soldstatus $52,500
5. 1986-08-19
   soldstatus $32,000

ⓘ 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: $382 · $32/mo
• Projected year-2 tax: $1,862 · $155/mo
• Expected delta: +$1,480/yr (+$123/mo · 386.9%)

ⓘ 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 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 19 unhealthy d/yr today · 21 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,514
• − Mortgage interest: −$10,643
• − Property taxes: −$382
• − Insurance: −$950
• − Repairs & maintenance: −$1,401
• − Management: −$1,401
• − Depreciation: −$5,527
• Taxable loss: −$2,790
• Est. tax savings @ 24.0%: +$670
• After-tax cash flow: $1,217/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): 43,169
• Household income: $77,374
• Rent vs Own: 27.5% rent · 72.5% own
• Severe rent burden: 965.0

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 (81%)
• Race & ethnicity: White 81% Two or more races 10% Hispanic / Latino 7% Asian 2% Black 1% Native American 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 5% Slovak 3% Romanian 2%
• Foreign-born: 3% · Canada, Philippines
• Languages at home: 94% English-only · Spanish 2% Other Asian/Pacific 1% Russian/Polish/Slavic 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: ▼ -475.69%
• Current HPI: 377.1519
• Rent YoY: ▲ 3.23%
• 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

+493.8% since first listed

5 events — show timeline

• 2026-05-13 Listed $190,000 SPOKANEMLS as Distributed by MLS Grid
• 2026-05-13 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 1993-04-26 Sold (Public Records) $52,500 Public Records
• 1993-04-26 Sold (Public Records) $52,500 Public Records
• 1986-08-19 Sold (Public Records) $32,000 Public Records

Property tax history

-10.1%/yr

Latest (2026): $382 · -33.0% YoY. Source: county tax records.