14315 E 24th Ave · Spokane Valley, WA 99037

$335,000

5 bd · 3.0 ba · 2,674 sqft · SingleFamily public records · 183 Days on market

Built 1977 0.33 ac lot $125/sqft · 25% below area Est $446k · 25% 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 +13.8/30.0
• Schools +5.4/10.0
• DSCR +4.2/10.0
• Livability +4.2/5.0
• 1% rule +3.9/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sellers are motivated and need to sell ASAP … Please bring any reasonable offer. Property highlights quality construction, a large lot, and best of all, a very unique and expansive master bedroom, bathroom, and walk-in closet. Home has upgraded vinyl window frames and siding . .. a very expensive upgrade! Roof is only 5 years old. Two brand new mini split (ac/heat) systems upstairs. Gas fireplace upstairs and furnace downstairs. Two large garages and a lean-to. House is already priced for instant equity and accounting that it needs some TLC/Repairs … Bids available from reputable contractors to complete the work, both inside and outside the property. Prime location, great area of the valley, and literally minutes from schools, grocery stores, restaurants, and shopping. Quick access to I-90. This a perfect candidate for a HomeStyle Renovation Loan.

Key facts

• Huge walk in closet
• Prime location
• 0.33 acre lot

Tags

• EXPANSIVE MASTER BEDROOM
• HUGE WALK IN CLOSET
• SPACIOUS UPDATED BATH
• PRIME LOCATION

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $335k.

Deal economics

• At list price, monthly cash flow is $28 ($332/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 $297k (11.5% below list).
• Recommended offer: $295k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.4% 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 soft (-0.2%/yr); 142 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 3,608 units permitted in Spokane County in 2024 (1,792 in 5+ unit buildings).
• This rent runs 41% of the median local income ($88k/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 $2k of loan paydown is wiped out by about $10k 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 183 days — a 12% lower offer ($295k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $65k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $35k; list at $335k implies a 857% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $294,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 183 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
8. 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.
9. 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: 0.89% ✗
• Cap rate: 6.39%
• Cash-on-cash: 0.35%
• DSCR: 1.02
• GRM: 9.4

CMA / ARV

• ARV (median comp): $445,678
• List price: $335,000
• Delta: -24.83%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14108 E 18th Ave	0.39mi	5/3.0	2,655 (-1%)	3mo	$485,000	$183	79
14604 E 17th Ave	0.45mi	5/3.0	2,652 (-1%)	2mo	$495,000	$187	76
3010 S Sunnybrook Rd	0.41mi	5/3.0	2,465 (-8%)	0mo	$620,000	$252	67
3103 S Bolivar Ct	0.52mi	5/3.0	2,822 (+6%)	0mo	$520,000	$184	66
13720 E 27th Ave	0.41mi	4/3.0 (-1)	2,840 (+6%)	2mo	$499,999	$176	64
13622 E 16th Ave	0.64mi	4/3.0 (-1)	2,602 (-3%)	2mo	$402,000	$154	59
13722 E 25th Ave	0.37mi	4/3.0 (-1)	2,398 (-10%)	4mo	$425,000	$177	58
1421 S Avalon Ln	0.72mi	4/3.0 (-1)	2,576 (-4%)	4mo	$435,000	$169	52
1709 S Burns Rd	0.54mi	5/3.0	3,028 (+13%)	3mo	$470,000	$155	50
13716 E 30th Ave	0.55mi	5/2.0	2,392 (-10%)	3mo	$497,500	$208	50
2111 S St Charles Rd	0.61mi	5/3.0	3,015 (+13%)	1mo	$490,000	$163	50
1321 S Marigold St	0.70mi	5/4.0	3,002 (+12%)	2mo	$512,500	$171	41

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -19.2%
• Equity multiple: 0.35×
• Total profit: $-61,169
• Equity at exit: $49,950

10-year hold

• IRR: -19.6%
• Equity multiple: 0.10×
• Total profit: $-84,402
• Equity at exit: $28,965

Cash invested: $93,800 (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 99037

• Rents YoY: -0.2%
• Active inventory: 142
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,966 medium
• Mortgage (P&I): −$1,757
• Tax est. 1.5%: −$419 /mo · $5,025/yr
• Insurance: −$140
• HOA: −$0
• Vacancy / Maint / Mgmt: −$623
• Net cashflow: $28

Break-even live

Break-even rent $2,931

Max offer price $335,000

Occupancy floor 94%

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: $83,750
• Closing costs: $10,050
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3681 S Wapiti Ln Spokane, WA	5.0	3.0	2532	$2,995	$1.18	23d	1	1.04mi
2719 S Seabiscuit Dr Veradale, WA	5.0	3.0	2920	$3,500	$1.20	43d	1	1.11mi

Listing history 24 events

1. 2026-06-18
   days on market $335,000 Active 183 DOM
2. 2026-06-17
   days on market $335,000 Active 182 DOM
3. 2026-06-16
   days on market $335,000 Active 181 DOM
4. 2026-06-15
   days on market $335,000 Active 180 DOM
5. 2026-06-14
   pricedays on market $335,000 Active 178 DOM
6. 2026-06-10
   days on market $324,900 Active 175 DOM
7. 2026-06-09
   days on market $324,900 Active 174 DOM
8. 2026-06-08
   days on market $324,900 Active 173 DOM
9. 2026-06-07
   days on market $324,900 Active 172 DOM
10. 2026-06-05
    days on market $324,900 Active 169 DOM
11. 2026-06-03
    days on market $324,900 Active 168 DOM
12. 2026-06-02
    days on market $324,900 Active 167 DOM
13. 2026-06-01
    days on market $324,900 Active 166 DOM
14. 2026-06-01
    price $324,900 Active 165 DOM
15. 2026-05-31
    days on market $330,000 Active 165 DOM
16. 2026-05-31
    days on market $330,000 Active 164 DOM
17. 2026-05-05
    price $349,900 874-char remark

    Show marketing remark (874 chars)

    Sellers are motivated and need to sell ASAP … Please bring any reasonable offer. Property highlights quality construction, a large lot, and best of all, a very unique and expansive master bedroom, bathroom, and walk-in closet. Home has upgraded vinyl window frames and siding . .. a very expensive upgrade! Roof is only 5 years old. Two brand new mini split (ac/heat) systems upstairs. Gas fireplace upstairs and furnace downstairs. Two large garages and a lean-to. House is already priced for instant equity and accounting that it needs some TLC/Repairs … Bids available from reputable contractors to complete the work, both inside and outside the property. Prime location, great area of the valley, and literally minutes from schools, grocery stores, restaurants, and shopping. Quick access to I-90. This a perfect candidate for a HomeStyle Renovation Loan.

18. 2026-04-02
    status Active 874-char remark

    Show marketing remark (874 chars)

    Sellers are motivated and need to sell ASAP … Please bring any reasonable offer. Property highlights quality construction, a large lot, and best of all, a very unique and expansive master bedroom, bathroom, and walk-in closet. Home has upgraded vinyl window frames and siding . .. a very expensive upgrade! Roof is only 5 years old. Two brand new mini split (ac/heat) systems upstairs. Gas fireplace upstairs and furnace downstairs. Two large garages and a lean-to. House is already priced for instant equity and accounting that it needs some TLC/Repairs … Bids available from reputable contractors to complete the work, both inside and outside the property. Prime location, great area of the valley, and literally minutes from schools, grocery stores, restaurants, and shopping. Quick access to I-90. This a perfect candidate for a HomeStyle Renovation Loan.

19. 2026-03-04
    status Pending 874-char remark

    Show marketing remark (874 chars)

    Sellers are motivated and need to sell ASAP … Please bring any reasonable offer. Property highlights quality construction, a large lot, and best of all, a very unique and expansive master bedroom, bathroom, and walk-in closet. Home has upgraded vinyl window frames and siding . .. a very expensive upgrade! Roof is only 5 years old. Two brand new mini split (ac/heat) systems upstairs. Gas fireplace upstairs and furnace downstairs. Two large garages and a lean-to. House is already priced for instant equity and accounting that it needs some TLC/Repairs … Bids available from reputable contractors to complete the work, both inside and outside the property. Prime location, great area of the valley, and literally minutes from schools, grocery stores, restaurants, and shopping. Quick access to I-90. This a perfect candidate for a HomeStyle Renovation Loan.

20. 2026-02-19
    price $375,000 874-char remark

    Show marketing remark (874 chars)

    Sellers are motivated and need to sell ASAP … Please bring any reasonable offer. Property highlights quality construction, a large lot, and best of all, a very unique and expansive master bedroom, bathroom, and walk-in closet. Home has upgraded vinyl window frames and siding . .. a very expensive upgrade! Roof is only 5 years old. Two brand new mini split (ac/heat) systems upstairs. Gas fireplace upstairs and furnace downstairs. Two large garages and a lean-to. House is already priced for instant equity and accounting that it needs some TLC/Repairs … Bids available from reputable contractors to complete the work, both inside and outside the property. Prime location, great area of the valley, and literally minutes from schools, grocery stores, restaurants, and shopping. Quick access to I-90. This a perfect candidate for a HomeStyle Renovation Loan.

21. 2026-02-12
    price $359,900 874-char remark

    Show marketing remark (874 chars)

    Sellers are motivated and need to sell ASAP … Please bring any reasonable offer. Property highlights quality construction, a large lot, and best of all, a very unique and expansive master bedroom, bathroom, and walk-in closet. Home has upgraded vinyl window frames and siding . .. a very expensive upgrade! Roof is only 5 years old. Two brand new mini split (ac/heat) systems upstairs. Gas fireplace upstairs and furnace downstairs. Two large garages and a lean-to. House is already priced for instant equity and accounting that it needs some TLC/Repairs … Bids available from reputable contractors to complete the work, both inside and outside the property. Prime location, great area of the valley, and literally minutes from schools, grocery stores, restaurants, and shopping. Quick access to I-90. This a perfect candidate for a HomeStyle Renovation Loan.

22. 2026-01-16
    price $369,000 874-char remark

    Show marketing remark (874 chars)

    Sellers are motivated and need to sell ASAP … Please bring any reasonable offer. Property highlights quality construction, a large lot, and best of all, a very unique and expansive master bedroom, bathroom, and walk-in closet. Home has upgraded vinyl window frames and siding . .. a very expensive upgrade! Roof is only 5 years old. Two brand new mini split (ac/heat) systems upstairs. Gas fireplace upstairs and furnace downstairs. Two large garages and a lean-to. House is already priced for instant equity and accounting that it needs some TLC/Repairs … Bids available from reputable contractors to complete the work, both inside and outside the property. Prime location, great area of the valley, and literally minutes from schools, grocery stores, restaurants, and shopping. Quick access to I-90. This a perfect candidate for a HomeStyle Renovation Loan.

23. 2025-11-18
    listed $399,900 Active 874-char remark

    Show marketing remark (874 chars)

    Sellers are motivated and need to sell ASAP … Please bring any reasonable offer. Property highlights quality construction, a large lot, and best of all, a very unique and expansive master bedroom, bathroom, and walk-in closet. Home has upgraded vinyl window frames and siding . .. a very expensive upgrade! Roof is only 5 years old. Two brand new mini split (ac/heat) systems upstairs. Gas fireplace upstairs and furnace downstairs. Two large garages and a lean-to. House is already priced for instant equity and accounting that it needs some TLC/Repairs … Bids available from reputable contractors to complete the work, both inside and outside the property. Prime location, great area of the valley, and literally minutes from schools, grocery stores, restaurants, and shopping. Quick access to I-90. This a perfect candidate for a HomeStyle Renovation Loan.

24. 1977-04-05
    soldstatus $35,000

ⓘ 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 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 12 unhealthy d/yr today · 15 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,586
• − Mortgage interest: −$18,765
• − Property taxes: −$5,025
• − Insurance: −$1,675
• − Repairs & maintenance: −$2,847
• − Management: −$2,847
• − Depreciation: −$9,745
• Taxable loss: −$5,318
• Est. tax savings @ 24.0%: +$1,276
• After-tax cash flow: $1,608/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: 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): 16,522
• Household income: $87,713
• Rent vs Own: 35.4% rent · 64.6% own
• Severe rent burden: 361.0

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 (82%)
• Race & ethnicity: White 82% Hispanic / Latino 8% Two or more races 7% Pacific Islander 2% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Lithuanian 4% Portuguese 3% Slovak 3%
• Foreign-born: 6% · Canada, United Kingdom
• Languages at home: 92% English-only · Other Asian/Pacific 2% Arabic 1% Spanish 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: ▼ -287.98%
• Current HPI: 314.9207
• Rent YoY: ▼ -0.21%
• 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

+899.7% since first listed

8 events — show timeline

• 2026-05-05 Price Changed $349,900 SPOKANEMLS as Distributed by MLS Grid
• 2026-04-02 Relisted — SPOKANEMLS as Distributed by MLS Grid
• 2026-03-04 Pending — SPOKANEMLS as Distributed by MLS Grid
• 2026-02-19 Price Changed $375,000 SPOKANEMLS as Distributed by MLS Grid
• 2026-02-12 Price Changed $359,900 SPOKANEMLS as Distributed by MLS Grid
• 2026-01-16 Price Changed $369,000 SPOKANEMLS as Distributed by MLS Grid
• 2025-11-18 Listed $399,900 SPOKANEMLS as Distributed by MLS Grid
• 1977-04-05 Sold (Public Records) $35,000 Public Records

Property tax history

-6.2%/yr

Latest (2026): $400 · +0.1% YoY. Source: county tax records.