2311 W 16th Ave Lot 285 · Spokane, WA 99224

$55,000

2 bd · 1.0 ba · 840 sqft · Manufactured public records · 8 Days on market

Built 1975 Est $50k · 9% over ↓ 11% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.6/10.0
• Livability +4.0/5.0
• ARV discount +3.4/15.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to your new 2 bed, 1 bath home in the sought-after 55+ gated Cascade MH Park! Enjoy a vibrant community lifestyle with amenities including a heated pool, hot tub, sauna, and clubhouse featuring a billiard room, fitness center, laundry facility, and picnic area with BBQ grills. This beautifully updated & move-in ready 840 sqft home feels spacious and inviting with an open floor plan and great natural light. The kitchen has been tastefully updated with new cabinets, butcher block countertops, a new sink, and all appliances included. Fresh interior paint and wide-plank LVP flooring run throughout, along with new lighting fixtures! The bathroom features new LVT flooring, and the l

Key facts

• Fitness center
• Hot tub
• Clubhouse

Tags

• HEATED POOL
• HOT TUB
• SAUNA
• CLUBHOUSE
• BILLIARD ROOM
• FITNESS CENTER

Property features AI

Finance

• HOA & community: Located in Cascade park (senior community); Monthly land lease of $679

Exterior

• Parking: 1-car carport
• Utilities: Typical public utilities (per public records)
• Home design: Manufactured home (single-story); Flat roof; Steel frame construction; Entry located at the park end (lot in manufactured-home community)
• Construction: Steel frame construction; Flat roof; Manufactured house; Skirted foundation with vapor barrier
• Exterior features: Level lot; Paved and private road frontage; Community in-ground pool

Interior

• Kitchen: Free-standing range; Dishwasher; Refrigerator; Microwave; Hard surface countertops
• Bedrooms: 2 bedrooms
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Sauna; Utility room
• Laundry & utility: Washer; Dryer; Skirted foundation with vapor barrier

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $55k.

Deal economics

• At list price, monthly cash flow is $686 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Cap rate 21.3% 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: Wilson Elementary (360 students, 25% FRL); Sacajawea Middle School (775 students, 42% FRL); Lewis & Clark High School (1,739 students, 38% FRL).
• Market conditions: Rents rising (+1.5%/yr); 384 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $380 of loan paydown is wiped out by about $2k 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 + 1.5% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Risks & watch-outs

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

Recommended offer $55,000

Questions for the listing agent

1. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
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: 2.38% ✓
• Cap rate: 21.26%
• Cash-on-cash: 53.45%
• DSCR: 3.38
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $50,400
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2311 W 16th Ave #266	0.15mi	2/1.0	800 (-5%)	4mo	$48,000	$60	81
2311 W 16th Ave #223	0.19mi	2/1.0	798 (-5%)	4mo	$33,000	$41	80
2116 S Inland Empire Way #32	0.12mi	3/2.0 (+1)	924 (+10%)	8mo	$74,500	$81	62

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 · 1.52% rent growth · sell at horizon

5-year hold

• IRR: 49.9%
• Equity multiple: 3.13×
• Total profit: $32,860
• Equity at exit: $8,201

10-year hold

• IRR: 54.8%
• Equity multiple: 6.01×
• Total profit: $77,227
• Equity at exit: $4,755

Cash invested: $15,400 (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 99224

• Home prices YoY: -29.4%
• Rents YoY: 1.5%
• Active inventory: 384
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,308 high
• Mortgage (P&I): −$288
• Tax from tax record: −$36 /mo · $429/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $686

Break-even live

Break-even rent $439

Max offer price $55,000

Occupancy floor 43%

Sensitivity live

Price	-10% $717	-5% $702	+0% $686	+5% $670	+10% $655
Rent	-10% $583	-5% $634	+0% $686	+5% $738	+10% $789
Rate	-1.0pp $714	-0.5pp $700	base $686	+0.5pp $672	+1.0pp $657

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2610 W Westwood Ln Spokane, WA	2.0	1.0–2.0	764	$1,680	$2.20	15d	24	0.32mi
1711 W Tenth Ave Apt 2 Spokane, WA	2.0	1.0	1000	$1,250	$1.25	25d	1	0.89mi
1428 W Tenth Ave Unit 2 Spokane, WA	1.0	1.0	600	$1,050	$1.75	25d	1	0.99mi
1519 W 9th Ave Unit D Spokane, WA	1.0	1.0	800	$1,185	$1.48	22d	1	0.99mi
1424 W Tenth Ave Unit F Spokane, WA	2.0	1.0	800	$999	$1.25	25d	1	1.00mi
1805 W 8th Ave Unit 7 Spokane, WA	1.0	1.0	769	$1,060	$1.38	25d	1	1.01mi
1611 W 8th Ave Unit 1611-1 Spokane, WA	1.0	1.0	650	$815	$1.25	15d	1	1.04mi
1611 W 8th Ave Apt 2 Spokane, WA	2.0	1.0	900	$1,195	$1.33	15d	1	1.04mi
1611 W 8th Ave Unit 1611-6 Spokane, WA	2.0	1.0	850	$1,050	$1.24	15d	1	1.04mi
1125 W 11th Ave Spokane, WA	1.0	1.0	567	$875	$1.54	25d	3	1.04mi
1125 W 11th Ave Unit I Spokane, WA	1.0	1.0	590	$875	$1.48	25d	1	1.04mi
1119 W 11th Ave Spokane, WA	3.0	2.0	971	$1,625	$1.67	25d	1	1.05mi
1618 W 8th Ave Unit 2 Spokane, WA	1.0	1.0	700	$1,400	$2.00	25d	1	1.07mi
1107 S Madison St Unit 104 Spokane, WA	2.0	1.0	800	$1,200	$1.50	25d	1	1.09mi
1107 S Madison St Spokane, WA	2.0	1.0	800	$1,225	$1.53	15d	2	1.09mi
1107 S Madison St Apt 304 Spokane, WA	2.0	1.0	800	$1,250	$1.56	25d	1	1.09mi
1405 W 8th Ave Unit 4 Spokane, WA	2.0	1.0	900	$1,195	$1.33	15d	1	1.10mi
3326 W Woodland Blvd Spokane, WA	2.0	1.0	720	$1,395	$1.94	25d	1	1.11mi
1622 W 7th Ave Unit 103 Spokane, WA	2.0	1.0	812	$1,200	$1.48	25d	1	1.14mi
1622 W 7th Ave Spokane, WA	2.0	1.0	812	$1,225	$1.51	25d	1	1.14mi
801 S Adams St Unit 7 Spokane, WA	2.0	1.0	700	$1,150	$1.64	15d	1	1.15mi
1611 W 6th Ave Spokane, WA	2.0	1.0	800	$1,045	$1.31	15d	3	1.18mi
827 W 11th Ave Unit 1 Spokane, WA	2.0	1.0	831	$1,500	$1.81	25d	1	1.20mi
1204 W 8th Ave Unit 724 Spokane, WA	2.0	1.0	600	$1,099	$1.83	22d	1	1.20mi
2008 W Sunset Blvd Unit 2 Spokane, WA	1.0	1.0	650	$900	$1.38	15d	1	1.26mi
617 S Adams St Unit 102 Spokane, WA	2.0	1.0	845	$2,195	$2.60	25d	1	1.26mi
618 S Jefferson St Unit 6 Spokane, WA	2.0	1.0	650	$1,150	$1.77	15d	1	1.27mi
1217 W 6th Ave Spokane, WA	1.0	1.0	550	$875	$1.59	25d	1	1.28mi
904 W 9th Ave Apt 6 Spokane, WA	1.0	1.0	600	$850	$1.42	25d	1	1.28mi
358 S Coeur d'Alene St Apt 5 Spokane, WA	1.0	1.0	780	$1,700	$2.18	15d	1	1.29mi
1104 W 7th Ave Unit 2 Spokane, WA	2.0	1.0	831	$995	$1.20	25d	1	1.30mi
1204 W 6th Ave Spokane, WA	1.0	1.0	850	$1,050	$1.24	25d	1	1.33mi
815 S Lincoln St Spokane, WA	1.0–2.0	1.0	681	$1,399	$2.05	25d	3	1.33mi
904 W Lincoln Pl Unit 5 Spokane, WA	1.0	1.0	640	$1,045	$1.63	25d	1	1.36mi
904 W Lincoln Pl Unit 2 Spokane, WA	2.0	1.0	885	$1,245	$1.41	25d	1	1.36mi
1226 W 5th Ave Unit 9 Spokane, WA	1.0	1.0	700	$965	$1.38	25d	1	1.36mi
2005 W 2nd Ave Unit 1 Spokane, WA	1.0	1.0	600	$950	$1.58	25d	1	1.40mi
612 S Lincoln St Spokane, WA	1.0–2.0	1.0	871	$1,700	$1.95	15d	1	1.41mi
2315 W 2nd Ave Spokane, WA	1.0–2.0	1.0	669	$1,399	$2.09	25d	2	1.41mi
2405 W 2nd Ave Unit 24 Spokane, WA	2.0	1.0	675	$1,150	$1.70	25d	1	1.42mi

Listing history 5 events

1. 2026-05-31
   status $55,000 Pending 8 DOM
2. 2026-05-21
   listed $55,000 Active
3. 2025-12-02
   historical
4. 2025-11-06
   price $55,000
5. 2025-10-25
   listed $62,000 Active

ⓘ 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: $429 · $36/mo
• Projected year-2 tax: $539 · $45/mo
• Expected delta: +$110/yr (+$9/mo · 25.6%)

ⓘ 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 6/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 13 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,693
• − Mortgage interest: −$3,081
• − Property taxes: −$429
• − Insurance: −$275
• − Repairs & maintenance: −$1,255
• − Management: −$1,255
• − Depreciation: −$1,600
• Taxable income: $7,797
• Est. tax owed @ 24.0%: −$1,871
• After-tax cash flow: $6,361/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): 24,919
• Household income: $80,770
• Rent vs Own: 35.9% rent · 64.1% own
• Severe rent burden: 886.0

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% Two or more races 7% Hispanic / Latino 5% Asian 3% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 4% Romanian 3% Slovak 3%
• Foreign-born: 7% · Canada, China
• Languages at home: 91% English-only · Russian/Polish/Slavic 3% Spanish 2% Other Indo-European 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: ▼ -131.96%
• Current HPI: 317.2242
• Rent YoY: ▲ 1.52%
• 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

-11.3% since first listed

4 events — show timeline

• 2026-05-21 Listed $55,000 SPOKANEMLS as Distributed by MLS Grid
• 2025-12-02 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2025-11-06 Price Changed $55,000 SPOKANEMLS as Distributed by MLS Grid
• 2025-10-25 Listed $62,000 SPOKANEMLS as Distributed by MLS Grid

Property tax history

+19.2%/yr

Latest (2026): $429 · +121.3% YoY. Source: county tax records.