943 E Augusta Ave · Spokane, WA 99207

$1,385,000

64 bd · 64.0 ba · 5,280 sqft · MultiFamily public records · 321 Days on market

Built 1964 7,100 sqft lot

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Why this score? — see what drove the F 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 +7.7/30.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• DSCR +1.8/10.0
• 1% rule +1.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 8 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

CLEAN WELL LOCATED 8 UNIT IN GU AREA. 2 UNITS HAVE FP. EXC ACCESS TO SAFEWAY. .5 BLK TO BUS. ALL UNITS 1 BR. 1 BATH. LAUNDRY ADDS XTRA INCOME. EASY TO SHOW.

Key facts

• 7,100 sq ft lot
• Built 1964
• Listed 321 days

Property features AI

Finance

• Financial info: Income property with 8 total rental units

Exterior

• Parking: Off-site parking
• Utilities: Public water/sewer (public records indicated)
• Home design: Residential income property; Two-story building; Faces unspecified direction
• Construction: Brick and wood siding exterior; Composition roof
• Exterior features: City street frontage; Paved road access

Interior

• Bedrooms: Eight 1-bedroom units
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Electric heat
• Interior features: No basement; Electric heating
• Laundry & utility: On-site laundry

What this means for you Summary

Snapshot

• This is a 8 × 1-bed/1.0-bath units multifamily listed at $1.39M.

Deal economics

• At list price, monthly cash flow is $-2k ($-20k/yr) — negative. Per door: $-204/mo.
• To cash-flow at today's rent, offer at most $1.10M (20.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $862k (37.7% below list).
• Recommended offer: $862k (37.7% below list) — sets the bar for 1% rule.
• Cap rate 4.9% 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: Logan Elementary (298 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); 236 active listings in the ZIP; 3,608 units permitted in Spokane County in 2024 (1,792 in 5+ unit buildings).
• At $8,624/mo this rent would consume 171% of the median local household income ($60k/yr) (locally 1557% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $10k of loan paydown is wiped out by about $42k 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

• It's been on market 321 days — a 12% lower offer ($1.22M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 26y 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 $495k; list at $1.39M implies a 180% gain — meaningful room to come down on a strong offer.

Recommended offer $862,400 (37.7% 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 321 days. Have you received any prior offers? Is the seller open to a 38% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 0.62% ✗
• Cap rate: 4.88%
• Cash-on-cash: -5.04%
• DSCR: 0.78
• GRM: 13.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.25% rent growth · sell at horizon

5-year hold

• IRR: -24.7%
• Equity multiple: 0.16×
• Total profit: $-326,638
• Equity at exit: $206,508

10-year hold

• IRR: -19.9%
• Equity multiple: -0.06×
• Total profit: $-411,435
• Equity at exit: $119,749

Cash invested: $387,800 (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 99207

• Home prices YoY: -21.3%
• Rents YoY: 3.2%
• Active inventory: 236
• Price-to-rent: 107.1×

Monthly cashflow live

• Estimated rent: $8,624 high
• Mortgage (P&I): −$7,263
• Tax from tax record: −$603 /mo · $7,234/yr
• Insurance: −$577
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,811
• Net cashflow: $-1,630

Break-even live

Break-even rent $10,687

Max offer price $1,097,042

Occupancy floor —

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

Units	Beds	Baths	Est. rent
▸ 8× units	1	1	$8,624
Total (8 units)			$8,624

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: $346,250
• Closing costs: $41,550
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $1,385,000 Active 321 DOM
2. 2026-06-17
   days on market $1,385,000 Active 320 DOM
3. 2026-06-16
   days on market $1,385,000 Active 319 DOM
4. 2026-06-15
   days on market $1,385,000 Active 318 DOM
5. 2026-06-14
   days on market $1,385,000 Active 316 DOM
6. 2026-06-10
   days on market $1,385,000 Active 313 DOM
7. 2026-06-09
   days on market $1,385,000 Active 312 DOM
8. 2026-06-08
   days on market $1,385,000 Active 311 DOM
9. 2026-06-07
   days on market $1,385,000 Active 310 DOM
10. 2026-06-03
    days on market $1,385,000 Active 306 DOM
11. 2026-06-02
    days on market $1,385,000 Active 305 DOM
12. 2026-06-01
    days on market $1,385,000 Active 304 DOM
13. 2026-05-31
    days on market $1,385,000 Active 303 DOM
14. 2026-05-31
    days on market $1,385,000 Active 302 DOM
15. 2025-08-01
    listed $1,385,000 Active
16. 2018-09-14
    soldstatus $495,000
17. 2014-02-07
    soldstatus $252,200
18. 2001-08-14
    soldstatus $197,880 156-char remark

    Show marketing remark (156 chars)

    CLEAN WELL LOCATED 8 UNIT IN GU AREA. 2 UNITS HAVE FP. EXC ACCESS TO SAFEWAY. .5 BLK TO BUS. ALL UNITS 1 BR. 1 BATH. LAUNDRY ADDS XTRA INCOME. EASY TO SHOW.

19. 2001-07-30
    soldstatus $197,880
20. 2001-03-15
    listed $214,900 156-char remark

    Show marketing remark (156 chars)

    CLEAN WELL LOCATED 8 UNIT IN GU AREA. 2 UNITS HAVE FP. EXC ACCESS TO SAFEWAY. .5 BLK TO BUS. ALL UNITS 1 BR. 1 BATH. LAUNDRY ADDS XTRA INCOME. EASY TO SHOW.

21. 2000-08-09
    historical
22. 2000-02-09
    listed $214,900
23. 1994-04-18
    soldstatus $235,000

ⓘ 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: $7,234 · $603/mo
• Projected year-2 tax: $13,573 · $1,131/mo
• Expected delta: +$6,339/yr (+$528/mo · 87.6%)

ⓘ 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 1/10 Low
• 🌡 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: $103,488
• − Mortgage interest: −$77,582
• − Property taxes: −$7,234
• − Insurance: −$6,925
• − Repairs & maintenance: −$8,279
• − Management: −$8,279
• − Depreciation: −$40,291
• Taxable loss: −$45,102
• Est. tax savings @ 24.0%: +$10,824
• After-tax cash flow: $-8,736/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): 32,770
• Household income: $60,452
• Rent vs Own: 42.4% rent · 57.6% own
• Severe rent burden: 1557.0

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 (76%)
• Race & ethnicity: White 76% Two or more races 10% Hispanic / Latino 8% Black 4% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 3% Lithuanian 3% Slovak 3%
• Foreign-born: 6% · Canada, Vietnam, Philippines
• Languages at home: 90% 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: ▼ -103.43%
• Current HPI: 381.758
• Rent YoY: ▲ 3.25%
• 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

+489.4% since first listed

9 events — show timeline

• 2025-08-01 Listed $1,385,000 SPOKANEMLS as Distributed by MLS Grid
• 2018-09-14 Sold (Public Records) $495,000 Public Records
• 2014-02-07 Sold (Public Records) $252,200 Public Records
• 2001-08-14 Sold (MLS) $197,880 SPOKANEMLS as Distributed by MLS Grid
• 2001-07-30 Sold (Public Records) $197,880 Public Records
• 2001-03-15 Listed $214,900 SPOKANEMLS as Distributed by MLS Grid
• 2000-08-09 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2000-02-09 Listed $214,900 SPOKANEMLS as Distributed by MLS Grid
• 1994-04-18 Sold (Public Records) $235,000 Public Records

Property tax history

+6.6%/yr

Latest (2026): $7,234 · +1.2% YoY. Source: county tax records.