2601 N Barker Rd #79 · Spokane Valley, WA 99027

$124,900

2 bd · 1.0 ba · 840 sqft · Manufactured public records · 1 Days on market

Built 2003

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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
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• ARV discount +7.5/15.0
• 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

* * * * RIVERFRONT * * * View of the sunset and Spokane River surrounded by singing birds, flowers, flowing river, Truly a picture perfect setting, open living room to kitchen floor plan, eating bar, oak finish kitchen with china hutch, all appliances stay WASHER & DRYER also stay, shed, carport. Glass slider to a covered deck overlooking the river, bay window view of the river, vinyl windows and new central A/C. This cozy home is move in ready!

Key facts

• Covered deck
• Bright kitchen
• Fenced yard

Tags

• RIVER VIEWS
• MATURE PINE TREES
• FLOWER GARDENS
• FENCED YARD
• COVERED DECK
• BRIGHT KITCHEN

Property features AI

Finance

• HOA & community: Located in River Rose Vill park; Senior community; Monthly land lease: $635

Exterior

• Parking: Carport (1 space); Slab parking; RV access/parking
• Utilities: High-speed internet available (XFinity Filter net)
• Home design: Manufactured home; One-story structure; Skirted foundation
• Construction: Masonite exterior; Composition roof (see remarks); Block foundation
• Exterior features: Deck; Patio; Views; Fenced yard; Treed lot; Level lot; Orchard(s); Riverfront on the Spokane River; Paved road and city street frontage

Interior

• Kitchen: Free-standing range; Dishwasher; Refrigerator; Hard surface counters
• Bedrooms: 2 bedrooms
• Heating & cooling: Natural gas and electric forced-air heating; Window air-conditioning unit(s)
• Interior features: Cathedral ceilings; Bay window; Utility room
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $431 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Cap rate 11.1% 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: Otis Orchards School (367 students, 76% FRL); East Valley High School (957 students, 58% FRL) — zoned schools average 67% FRL vs 45% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 57 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k 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 $35k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 21y 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.
• Current owner paid $37k; list at $125k implies a 242% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $124,900

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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?
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: 1.38% ✓
• Cap rate: 11.07%
• Cash-on-cash: 17.08%
• DSCR: 1.76
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $74,760
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2601 N Barker Rd #45	0.02mi	2/2.0	780 (-7%)	1mo	$60,000	$77	82
2601 N Barker Rd #69	0.08mi	2/1.0	812 (-3%)	18mo	$95,000	$117	76
2920 N Rivista Dr	0.28mi	2/2.0	840 (0%)	10mo	$170,000	$202	75
2601 N Barker #115	0.19mi	2/1.0	868 (+3%)	14mo	$77,000	$89	74
2601 N Barker Rd #95	0.19mi	2/2.0	924 (+10%)	2mo	$50,000	$54	69
19021 E Montgomery Dr	0.27mi	1/1.0 (-1)	900 (+7%)	10mo	$150,000	$167	62
2601 N Barker Rd #21	0.06mi	2/2.0	960 (+14%)	12mo	$60,000	$63	59
19221 E Buckeye Ave #10	0.45mi	3/2.0 (+1)	924 (+10%)	11mo	$75,500	$82	44
18517 E Courtland Ave	0.64mi	3/2.0 (+1)	896 (+7%)	16mo	$163,000	$182	36

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: 5.4%
• Equity multiple: 1.21×
• Total profit: $7,293
• Equity at exit: $18,623

10-year hold

• IRR: 14.8%
• Equity multiple: 2.20×
• Total profit: $41,987
• Equity at exit: $10,799

Cash invested: $34,972 (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: 6.0×

Monthly cashflow live

• Estimated rent: $1,723 medium
• Mortgage (P&I): −$655
• Tax est. 1.5%: −$156 /mo · $1,874/yr
• Insurance: −$52
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $431

Break-even live

Break-even rent $1,177

Max offer price $124,900

Occupancy floor 70%

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17016 E Indiana Pkwy Spokane Valley, WA	3.0	1.0–2.0	918	$1,767	$1.92	14d	50	1.21mi
18417 E Appleway Ave Spokane Valley, WA	1.0–3.0	1.0–2.0	1025	$1,645	$1.60	14d	8	1.34mi
16621 E Indiana Ave Spokane Valley, WA	1.0–3.0	1.0–2.0	980	$1,724	$1.76	14d	27	1.36mi
16609 E Desmet Ct Spokane Valley, WA	1.0–3.0	1.0–2.0	1125	$1,748	$1.55	14d	24	1.38mi

Listing history 2 events

1. 2026-06-17
   remarks 695-char remark
2. 2026-06-17
   listed $124,900 Active 1 DOM

ⓘ 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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 3/10 Moderate 6 d/yr ≥93°F today · 12 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: $20,671
• − Mortgage interest: −$6,996
• − Property taxes: −$1,874
• − Insurance: −$1,422
• − Repairs & maintenance: −$1,654
• − Management: −$1,654
• − Depreciation: −$3,633
• Taxable income: $3,438
• Est. tax owed @ 24.0%: −$825
• After-tax cash flow: $4,349/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

• Census place: Spokane Valley, WA
• 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

+197.4% since first listed

12 events — show timeline

• 2026-06-17 Listed $124,900 SPOKANEMLS as Distributed by MLS Grid
• 2015-10-21 Sold (MLS) $36,550 SPOKANEMLS as Distributed by MLS Grid
• 2015-10-19 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2015-08-28 Listed $36,950 SPOKANEMLS as Distributed by MLS Grid
• 2013-08-05 Sold (MLS) $36,500 SPOKANEMLS as Distributed by MLS Grid
• 2013-05-04 Listed $36,500 SPOKANEMLS as Distributed by MLS Grid
• 2011-11-02 Sold (MLS) $35,000 SPOKANEMLS as Distributed by MLS Grid
• 2011-08-25 Listed $35,900 SPOKANEMLS as Distributed by MLS Grid
• 2008-09-12 Sold (MLS) $31,500 SPOKANEMLS as Distributed by MLS Grid
• 2008-08-15 Listed $34,000 SPOKANEMLS as Distributed by MLS Grid
• 2006-02-02 Sold (MLS) $40,000 SPOKANEMLS as Distributed by MLS Grid
• 2005-10-02 Listed $42,000 SPOKANEMLS as Distributed by MLS Grid

Property tax history

-21.4%/yr

Latest (2018): $178 · -58.0% YoY. Source: county tax records.