407 E H St Lot 2 & 4 · Deer Park, WA 99006

$149,900

3 bd · 2.0 ba · 2,905 sqft · Manufactured · 46 Days on market

Built 2005

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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 +9.0/10.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Looking for a spacious home in the Deer Park area but they are all too expensive. Check out this triplewide manufactured home on Leased land. Great Location close to schools and shopping. This home sits on 2 lots in Country Meadows Community. 2905 sq ft of living space. 3 bedrooms with 2 baths. Gas forced air with a/c. Living room kitchen is great room concept. Spacious bedrooms with dining area and a den. Oversize Garage with extra room off the back. New Gas Furnace 3/26. New dishwasher 3/26. Home does need some tlc.

Key facts

• Leased land
• Great room concept
• 2 lots

Tags

• TRIPLEWIDE MANUFACTURED HOME
• LEASED LAND
• 2 LOTS
• COUNTRY MEADOWS COMMUNITY
• GAS FORCED AIR
• GREAT ROOM CONCEPT

Property features AI

Finance

• Other: Directions: Deer Park — take 395 to Main Street, left at first roundabout onto H Street, then left at entrance to Country Meadows community
• Financial info: Land lease amount approximately $775/month
• HOA & community: Located in Country Meadows community; Lot located in a land-lease park (monthly land lease)

Exterior

• Parking: Attached 2-car garage
• Utilities: High-speed internet available (Comcast)
• Home design: Residential manufactured home
• Construction: Wood siding; Composition roof; Slab foundation; Manufactured house structure
• Exterior features: Fenced yard; Level lot; City bus service within about 6 blocks; Paved road frontage; City street access

Interior

• Kitchen: Free-standing range; Dishwasher; Refrigerator
• Bedrooms: 3 bedrooms
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Pantry; Kitchen island; Skylight(s)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $150k.

Deal economics

• At list price, monthly cash flow is $617 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $145k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.2% vs local median 2.5% in Deer Park — 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 57/100 on livability (#531 in WA) — a working-class tenant base; expect higher turnover. Strengths: housing A+, cost of living B+; Watch: amenities F, commute F, employment D-.
• 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 Middle School (468 students, 58% FRL); Deer Park High School (716 students, 52% FRL) — zoned schools average 56% FRL vs 40% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 366 active listings in the ZIP; 3,608 units permitted in Spokane County in 2024 (1,792 in 5+ unit buildings).
• This rent runs 35% of the median local income ($72k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k 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 $42k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y 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 $45k; list at $150k implies a 233% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $145,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.40% ✓
• Cap rate: 11.24%
• Cash-on-cash: 17.65%
• DSCR: 1.79
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 9.1%
• Equity multiple: 1.36×
• Total profit: $15,064
• Equity at exit: $22,351

10-year hold

• IRR: 18.3%
• Equity multiple: 2.52×
• Total profit: $63,880
• Equity at exit: $12,961

Cash invested: $41,972 (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 99006

• Home prices YoY: -17.4%
• Active inventory: 366
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $2,093 medium
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$439
• Net cashflow: $617

Break-even live

Break-even rent $1,311

Max offer price $149,900

Occupancy floor 66%

Sensitivity live

Price	-10% $721	-5% $669	+0% $617	+5% $566	+10% $514
Rent	-10% $452	-5% $535	+0% $617	+5% $700	+10% $783
Rate	-1.0pp $693	-0.5pp $656	base $617	+0.5pp $579	+1.0pp $539

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-21
   days on market $149,900 Active 46 DOM
2. 2026-06-18
   days on market $149,900 Active 43 DOM
3. 2026-06-17
   days on market $149,900 Active 42 DOM
4. 2026-06-16
   days on market $149,900 Active 41 DOM
5. 2026-06-15
   days on market $149,900 Active 40 DOM
6. 2026-06-14
   days on market $149,900 Active 38 DOM
7. 2026-06-13
   days on market $149,900 Active 37 DOM
8. 2026-06-10
   days on market $149,900 Active 35 DOM
9. 2026-06-09
   days on market $149,900 Active 34 DOM
10. 2026-06-08
    days on market $149,900 Active 33 DOM
11. 2026-06-07
    days on market $149,900 Active 32 DOM
12. 2026-06-03
    days on market $149,900 Active 28 DOM
13. 2026-06-02
    days on market $149,900 Active 27 DOM
14. 2026-06-01
    days on market $149,900 Active 26 DOM
15. 2026-05-31
    days on market $149,900 Active 25 DOM
16. 2026-05-31
    days on market $149,900 Active 24 DOM
17. 2026-05-06
    listed $149,900 Active 524-char remark
18. 2024-12-16
    historical
19. 2024-09-10
    listed $195,000 Active
20. 2024-08-30
    historical
21. 2024-08-17
    price $273,000
22. 2024-08-14
    price $293,000
23. 2024-07-29
    price $315,000
24. 2024-07-10
    price $325,000
25. 2024-07-08
    listed $32,000 Active
26. 2016-04-15
    soldstatus $45,000
27. 2016-03-14
    historical
28. 2016-01-12
    listed $45,000

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 13 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,114
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$2,009
• − Management: −$2,009
• − Depreciation: −$4,361
• Taxable income: $5,340
• Est. tax owed @ 24.0%: −$1,282
• After-tax cash flow: $6,127/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: Deer Park School District
• NCES district ID: 5302070
• Math proficiency: 52% ▼ -1.00%
• Reading proficiency: 66% ▬ 0.00%
• Median HH income: $47,808
• Composite: 51.66/100
• National rank: #3620
• State rank: #74 of 291 in WA

Livability — Deer Park

• Score: 57/100
• State rank: #531
• US rank: #22045

Category grades

Amenities F Commute F Cost of living B+ Crime C+ Employment D- Housing A+ Health & safety F User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Deer Park, WA
• County: Spokane County · 496,401 people
• City population: 16,177
• Metro: Spokane-Spokane Valley, WA
• Population (ZIP): 16,177
• Household income: $72,200
• Rent vs Own: 16.8% rent · 83.2% own
• Severe rent burden: 144.0

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 (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Portuguese 6% Slovak 3% Serbian 3%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% 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: ▼ -79.74%
• Current HPI: 378.0416
• 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

+233.1% since first listed

12 events — show timeline

• 2026-05-06 Listed $149,900 SPOKANEMLS as Distributed by MLS Grid
• 2024-12-16 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2024-09-10 Listed $195,000 SPOKANEMLS as Distributed by MLS Grid
• 2024-08-30 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2024-08-17 Price Changed $273,000 SPOKANEMLS as Distributed by MLS Grid
• 2024-08-14 Price Changed $293,000 SPOKANEMLS as Distributed by MLS Grid
• 2024-07-29 Price Changed $315,000 SPOKANEMLS as Distributed by MLS Grid
• 2024-07-10 Price Changed $325,000 SPOKANEMLS as Distributed by MLS Grid
• 2024-07-08 Listed $32,000 SPOKANEMLS as Distributed by MLS Grid
• 2016-04-15 Sold (MLS) $45,000 SPOKANEMLS as Distributed by MLS Grid
• 2016-03-14 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2016-01-12 Listed $45,000 SPOKANEMLS as Distributed by MLS Grid