19414 E Augusta Ln · Spokane Valley, WA 99016

$249,950

3 bd · 2.0 ba · 1,296 sqft · Manufactured · 86 Days on market

Built 2006 Good condition $193/sqft · at area comps Est $259k · at est. ↓ 2% 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).

• Cash flow +13.1/30.0
• ARV discount +9.1/15.0
• Schools +5.4/10.0
• Livability +4.2/5.0
• DSCR +3.9/10.0
• Condition / age +3.8/5.0
• 1% rule +3.7/10.0
• Rent growth +3.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Highly sought after 55+ manufactured home park in Spokane Valley. You will love this open floor plan. Kitchen is open to the spacious living room with the cozy gas stove. 3rd bedroom converted to a den or office and it's open to the living room and leads to the oversized covered deck with southern exposure for entertaining. Gas furnace and tankless water heater. Skylight and large windows with the raised ceilings make for a bright and welcoming home. Garden area with drip system for planting and a fenced back yard. You will love this park with it's huge clubhouse featuring exercise room, library, and dining areas to accommodate potlucks, parties, Bunco, Bingo, and game nights. This is a gated community that offers extra safety and peace of mind whether you live there year round or travel. Lot rent of 620.00 covers water, sewer, snow removal, and clubhouse. Hard to find in this price range with a two car attached garage and in this incredible condition.

Key facts

• Gas furnace
• Open floor plan
• Southern exposure

Tags

• OPEN FLOOR PLAN
• COZY GAS STOVE
• OVERSIZED COVERED DECK
• SOUTHERN EXPOSURE
• GAS FURNACE
• TANKLESS WATER HEATER

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $250k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-7 ($-83/yr) — negative.
• To cash-flow at today's rent, offer at most $249k (0.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $218k (12.9% below list).
• Recommended offer: $218k (12.9% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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+.
• Central Valley School District (urban): math 55% / reading 66% proficiency, ranked #55 of 291 in WA (top 19%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+2.1%/yr); 226 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $2k of loan paydown is wiped out by about $7k 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 86 days — a 6% lower offer ($235k) is reasonable based on typical stale-listing flexibility.

Recommended offer $217,778 (12.9% 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 86 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.87% ✗
• Cap rate: 6.26%
• Cash-on-cash: -0.12%
• DSCR: 0.99
• GRM: 9.6

CMA / ARV

• ARV (median comp): $259,051
• List price: $249,950
• Delta: -3.51%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1830 N Hodges Ln	0.12mi	3/2.0	1,404 (+8%)	12mo	$289,000	$206	71
19029 E Boone Ave #51	0.32mi	2/2.0 (-1)	1,320 (+2%)	8mo	$213,000	$161	70
1719 N Hodges Ln	0.04mi	3/2.0	1,456 (+12%)	9mo	$285,000	$196	70
19029 E Boone Ave #45	0.32mi	3/2.0	1,350 (+4%)	11mo	$179,000	$133	69
18924 E Montgomery Dr	0.55mi	3/2.0	1,280 (-1%)	5mo	$395,000	$309	68
18917 E Jackson Dr	0.59mi	3/2.0	1,272 (-2%)	2mo	$310,000	$244	67
19411 E Colyar Ln	0.02mi	3/2.0	1,484 (+14%)	13mo	$286,000	$193	64
18307 E Boone Ave	0.73mi	3/2.0	1,296 (0%)	4mo	$285,000	$220	62
19214 E Buckeye Ave	0.69mi	3/2.0	1,352 (+4%)	10mo	$370,000	$274	52
18821 E Montgomery Dr	0.60mi	3/2.0	1,458 (+12%)	1mo	$360,000	$247	50
18915 E Marietta Ave	0.71mi	3/2.0	1,440 (+11%)	0mo	$175,000	$122	48
2423 N Drummond Rd	0.65mi	3/2.0	1,440 (+11%)	9mo	$325,000	$226	43

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 · 2.15% rent growth · sell at horizon

5-year hold

• IRR: -17.4%
• Equity multiple: 0.39×
• Total profit: $-42,756
• Equity at exit: $37,268

10-year hold

• IRR: -11.1%
• Equity multiple: 0.36×
• Total profit: $-45,114
• Equity at exit: $21,611

Cash invested: $69,986 (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 99016

• Home prices YoY: -28.8%
• Rents YoY: 2.1%
• Active inventory: 226
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,178 high
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,749/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$457
• Net cashflow: $-7

Break-even live

Break-even rent $2,187

Max offer price $248,951

Occupancy floor 95%

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: $62,488
• Closing costs: $7,498
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1806 N Salmon River Ln Spokane Valley, WA	3.0	2.0	1800	$2,395	$1.33	23d	1	0.15mi
1420 N Michigan Ln Unit 1 Spokane Valley, WA	3.0	2.5	1476	$2,100	$1.42	43d	1	0.17mi
1920 N Cavalier Rd Liberty Lake, WA	3.0	2.0	1387	$2,395	$1.73	43d	1	0.24mi
18714 E Augusta Ct Greenacres, WA	3.0	2.5	1412	$1,995	$1.41	43d	1	0.41mi
1840 N Willamette Rd Liberty Lake, WA	3.0	2.5	1569	$2,150	$1.37	13d	1	0.41mi
18417 E Appleway Ave Spokane Valley, WA	1.0–3.0	1.0–2.0	1025	$1,895	$1.85	13d	8	1.00mi
116 N Barker Rd Greenacres, WA	2.0–3.0	1.0–2.0	1020	$1,695	$1.66	13d	4	1.02mi
1115 N Manifold Ln Unit 1117 Spokane Valley, WA	4.0	3.0	1700	$2,300	$1.35	43d	1	1.09mi
1108 N Davis Ln Greenacres, WA	3.0	2.5	1712	$2,195	$1.28	43d	1	1.11mi
112 S Drummond Ln Greenacres, WA	3.0	2.0	1500	$2,200	$1.47	43d	1	1.19mi
21200 E Country Vista Dr Liberty Lake, WA	2.0	1.0	995	$1,475	$1.48	13d	1	1.27mi
1317 N Arc St Spokane Valley, WA	3.0	2.0–2.5	1500	$2,248	$1.50	13d	14	1.32mi
1806 N Coach Ln Unit 1806 Spokane Valley, WA	3.0	2.5	1501	$2,550	$1.70	23d	1	1.38mi
21900 E Country Vista Dr Liberty Lake, WA	1.0–3.0	1.0–2.0	970	$1,995	$2.06	13d	6	1.47mi

Listing history 3 events

1. 2026-05-19
   status Pending 966-char remark

   Show marketing remark (966 chars)

   Highly sought after 55+ manufactured home park in Spokane Valley. You will love this open floor plan. Kitchen is open to the spacious living room with the cozy gas stove. 3rd bedroom converted to a den or office and it's open to the living room and leads to the oversized covered deck with southern exposure for entertaining. Gas furnace and tankless water heater. Skylight and large windows with the raised ceilings make for a bright and welcoming home. Garden area with drip system for planting and a fenced back yard. You will love this park with it's huge clubhouse featuring exercise room, library, and dining areas to accommodate potlucks, parties, Bunco, Bingo, and game nights. This is a gated community that offers extra safety and peace of mind whether you live there year round or travel. Lot rent of 620.00 covers water, sewer, snow removal, and clubhouse. Hard to find in this price range with a two car attached garage and in this incredible condition.

2. 2026-05-07
   price $249,950 966-char remark

   Show marketing remark (966 chars)

   Highly sought after 55+ manufactured home park in Spokane Valley. You will love this open floor plan. Kitchen is open to the spacious living room with the cozy gas stove. 3rd bedroom converted to a den or office and it's open to the living room and leads to the oversized covered deck with southern exposure for entertaining. Gas furnace and tankless water heater. Skylight and large windows with the raised ceilings make for a bright and welcoming home. Garden area with drip system for planting and a fenced back yard. You will love this park with it's huge clubhouse featuring exercise room, library, and dining areas to accommodate potlucks, parties, Bunco, Bingo, and game nights. This is a gated community that offers extra safety and peace of mind whether you live there year round or travel. Lot rent of 620.00 covers water, sewer, snow removal, and clubhouse. Hard to find in this price range with a two car attached garage and in this incredible condition.

3. 2026-02-21
   listed $254,900 Active 966-char remark

   Show marketing remark (966 chars)

   Highly sought after 55+ manufactured home park in Spokane Valley. You will love this open floor plan. Kitchen is open to the spacious living room with the cozy gas stove. 3rd bedroom converted to a den or office and it's open to the living room and leads to the oversized covered deck with southern exposure for entertaining. Gas furnace and tankless water heater. Skylight and large windows with the raised ceilings make for a bright and welcoming home. Garden area with drip system for planting and a fenced back yard. You will love this park with it's huge clubhouse featuring exercise room, library, and dining areas to accommodate potlucks, parties, Bunco, Bingo, and game nights. This is a gated community that offers extra safety and peace of mind whether you live there year round or travel. Lot rent of 620.00 covers water, sewer, snow removal, and clubhouse. Hard to find in this price range with a two car attached garage and in this incredible condition.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $26,133
• − Mortgage interest: −$14,001
• − Property taxes: −$3,749
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,091
• − Management: −$2,091
• − Depreciation: −$7,271
• Taxable loss: −$4,319
• Est. tax savings @ 24.0%: +$1,037
• After-tax cash flow: $954/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This 55+ manufactured home is in good condition with cosmetic updates needed to enhance its resale and rental value.

Repairs flagged

• Minor kitchen cabinets — Aesthetic update needed
• Minor bathroom fixtures — Update needed for style and functionality

Value-add opportunities

• Resale Paint kitchen cabinets — Fresh paint enhances curb appeal
• Resale Replace bathroom fixtures — Modern fixtures improve functionality and style
• Both Landscaping improvements — Enhances curb appeal and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · Aesthetic update needed	Minor	$500–3,000
bathroom fixtures · Update needed for style and functionality	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Resale Paint kitchen cabinets — Fresh paint enhances curb appeal ↑
• Resale Replace bathroom fixtures — Modern fixtures improve functionality and style ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Central Valley School District
• NCES district ID: 5301110
• Math proficiency: 55% ▬ 0.00%
• Reading proficiency: 66% ▬ 0.00%
• Median HH income: $55,824
• Composite: 53.62/100
• National rank: #3107
• State rank: #55 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
• County: Spokane County · 496,401 people
• City population: 129,511
• Metro: Spokane-Spokane Valley, WA
• Population (ZIP): 21,615
• Household income: $103,472
• Rent vs Own: 22.4% rent · 77.6% own
• Severe rent burden: 483.0

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 8% Two or more races 8% Asian 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Portuguese 4% Romanian 3% Slovak 3%
• Foreign-born: 6% · Vietnam, Canada
• Languages at home: 92% English-only · Russian/Polish/Slavic 2% Vietnamese 2% Spanish 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: ▼ -132.35%
• Current HPI: 327.0732
• Rent YoY: ▲ 2.15%
• 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

-1.9% since first listed

3 events — show timeline

• 2026-05-19 Pending — SPOKANEMLS as Distributed by MLS Grid
• 2026-05-07 Price Changed $249,950 SPOKANEMLS as Distributed by MLS Grid
• 2026-02-21 Listed $254,900 SPOKANEMLS as Distributed by MLS Grid