10505 E 10th Ave · Spokane Valley, WA 99206

$342,000

4 bd · 2.0 ba · 1,434 sqft · SingleFamily public records · 121 Days on market

Built 1961 5,000 sqft lot $238/sqft · 19% above area Est $402k · 15% under

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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).

• ARV discount +14.2/15.0
• Cash flow +6.0/30.0
• Schools +5.4/10.0
• Livability +4.2/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• 1% rule +0.6/10.0
• DSCR +0.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully maintained home offering a blend of comfort, functionality, and thoughtful updates. The kitchen features maple cabinets with decorative upper display space, countertops, deep double sink, and access to the backyard/carport. The light filled living room includes a large picture window and a wood stove port ready to go, creating a warm and inviting main level living space. The spacious basement expands your living options with a large entertainment/media room, a non-conforming bedroom/den, an oversized laundry, abundant storage, and exterior access to the backyard. Energy efficient features include galvanized steel lap siding, vinyl windows, and a gas forced air furnace. Exterior amenities add exceptional versatility: attached covered carport, lean to storage, plus a detached pole style paved/covered carport, garden shed, storage shed, and tool closets. The fenced yard (4' cyclone) includes mature landscaping, and a dedicated chicken coop! Come see!!

Key facts

• Oversized laundry
• Maple cabinets
• Deep double sink

Tags

• MAPLE CABINETS
• DECORATIVE UPPER DISPLAY SPACE
• DEEP DOUBLE SINK
• LARGE ENTERTAINMENT MEDIA ROOM
• OVERSIZED LAUNDRY
• ABUNDANT STORAGE

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $342k.

Deal economics

• At list price, monthly cash flow is $-651 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $227k (33.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $192k (43.9% below list).
• Recommended offer: $192k (43.9% below list) — sets the bar for 1% rule.
• Cap rate 4.0% vs local median 2.9% 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.
• Zoned schools: Summit School (351 students, 36% FRL); Bowdish Middle School (419 students, 62% FRL); University High School (1,445 students, 46% FRL) — zoned schools average 48% FRL vs 28% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.4%/yr); 305 active listings in the ZIP; 11 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 $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 121 days — a 12% lower offer ($301k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 17y 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 $136k; list at $342k implies a 151% 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 $191,871 (43.9% 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 121 days. Have you received any prior offers? Is the seller open to a 44% concession, seller financing, or rate buy-down credit?
3. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.56% ✗
• Cap rate: 4.01%
• Cash-on-cash: -8.16%
• DSCR: 0.64
• GRM: 14.9

CMA / ARV

• ARV (median comp): $402,331
• List price: $342,000
• Delta: -15.00%
• 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
608 S University Rd	0.25mi	4/1.0	1,436 (+0%)	12mo	$165,000	$115	74
10209 E 17th Ln	0.45mi	4/2.0	1,400 (-2%)	2mo	$385,000	$275	74
610 S Dartmouth Ln	0.29mi	3/2.0 (-1)	1,504 (+5%)	2mo	$405,000	$269	72
10212 E 6th Ln	0.28mi	3/2.0 (-1)	1,371 (-4%)	8mo	$397,000	$290	68
10610 E 9th Ave	0.09mi	3/2.0 (-1)	1,616 (+13%)	7mo	$410,000	$254	64
1321 S Pierce Rd	0.46mi	4/2.0	1,344 (-6%)	9mo	$440,000	$327	61
10128 E 16th Ave	0.44mi	3/2.0 (-1)	1,504 (+5%)	8mo	$395,000	$263	60
1215 S Van Marter Ln	0.28mi	3/2.0 (-1)	1,224 (-15%)	2mo	$400,000	$327	56
10904 E 9th Ave	0.26mi	4/3.0	1,636 (+14%)	7mo	$388,000	$237	55
10119 E 14th Ave	0.30mi	3/2.0 (-1)	1,590 (+11%)	15mo	$496,500	$312	50
11307 E 11th Ave	0.51mi	3/2.0 (-1)	1,227 (-14%)	13mo	$385,000	$314	36
11115 E 20th Ave	0.73mi	3/2.0 (-1)	1,594 (+11%)	7mo	$400,000	$251	36

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 · 2.44% rent growth · sell at horizon

5-year hold

• IRR: -31.2%
• Equity multiple: -0.02×
• Total profit: $-98,059
• Equity at exit: $50,993

10-year hold

• IRR: -37.5%
• Equity multiple: -0.50×
• Total profit: $-143,527
• Equity at exit: $29,570

Cash invested: $95,760 (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 99206

• Rents YoY: 2.4%
• Active inventory: 305
• Price-to-rent: 14.9×

Monthly cashflow live

• Estimated rent: $1,919 high
• Mortgage (P&I): −$1,793
• Tax from tax record: −$231 /mo · $2,772/yr
• Insurance: −$142
• HOA: −$0
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $-651

Break-even live

Break-even rent $2,743

Max offer price $226,967

Occupancy floor —

Sensitivity live

Price	-10% $-458	-5% $-554	+0% $-651	+5% $-748	+10% $-845
Rent	-10% $-803	-5% $-727	+0% $-651	+5% $-575	+10% $-500
Rate	-1.0pp $-479	-0.5pp $-564	base $-651	+0.5pp $-740	+1.0pp $-830

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: $85,500
• Closing costs: $10,260
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10808 E 9th Ave Unit 10808 Spokane Valley, WA	3.0	2.0	1500	$1,795	$1.20	25d	1	0.21mi
10808 E 9th Ave Spokane Valley, WA	3.0	2.0	1500	$1,795	$1.20	15d	1	0.21mi
9910 E Appleway Ave Spokane, WA	1.0–3.0	1.0–2.0	943	$1,617	$1.71	15d	1	0.58mi
2407 S University Rd Spokane Valley, WA	3.0	1.0	1000	$1,495	$1.50	45d	1	0.92mi
11908 E 4th Ave Spokane Valley, WA	3.0	2.0	1250	$1,895	$1.52	15d	1	0.95mi
11122 E Valleyway Ave Spokane Valley, WA	3.0	1.0	1800	$1,750	$0.97	25d	1	0.96mi
12403 E 3rd Ave Spokane Valley, WA	3.0	2.0	1100	$1,580	$1.44	25d	1	1.26mi
222 N Sargent Rd Spokane Valley, WA	3.0	2.0	1495	$2,425	$1.62	25d	1	1.35mi
1019 N Woodward Rd Spokane Valley, WA	3.0	1.0	1500	$1,795	$1.20	25d	1	1.41mi
1306 N Van Marter Rd Spokane Valley, WA	3.0	2.0	1709	$2,195	$1.28	25d	1	1.46mi
11813 E Broadway Ave Spokane Valley, WA	3.0	1.0–2.0	918	$1,826	$1.99	15d	26	1.47mi

Listing history 28 events

1. 2026-06-21
   days on market $342,000 Active 121 DOM
2. 2026-06-18
   days on market $342,000 Active 118 DOM
3. 2026-06-17
   days on market $342,000 Active 117 DOM
4. 2026-06-16
   days on market $342,000 Active 116 DOM
5. 2026-06-15
   days on market $342,000 Active 115 DOM
6. 2026-06-14
   days on market $342,000 Active 113 DOM
7. 2026-06-10
   days on market $342,000 Active 110 DOM
8. 2026-06-09
   days on market $342,000 Active 109 DOM
9. 2026-06-08
   days on market $342,000 Active 108 DOM
10. 2026-06-07
    days on market $342,000 Active 107 DOM
11. 2026-06-05
    days on market $342,000 Active 104 DOM
12. 2026-06-03
    days on market $342,000 Active 103 DOM
13. 2026-06-02
    days on market $342,000 Active 102 DOM
14. 2026-06-01
    days on market $342,000 Active 101 DOM
15. 2026-05-31
    days on market $342,000 Active 100 DOM
16. 2026-05-31
    days on market $342,000 Active 99 DOM
17. 2026-03-30
    price $342,000 974-char remark

    Show marketing remark (974 chars)

    Beautifully maintained home offering a blend of comfort, functionality, and thoughtful updates. The kitchen features maple cabinets with decorative upper display space, countertops, deep double sink, and access to the backyard/carport. The light filled living room includes a large picture window and a wood stove port ready to go, creating a warm and inviting main level living space. The spacious basement expands your living options with a large entertainment/media room, a non-conforming bedroom/den, an oversized laundry, abundant storage, and exterior access to the backyard. Energy efficient features include galvanized steel lap siding, vinyl windows, and a gas forced air furnace. Exterior amenities add exceptional versatility: attached covered carport, lean to storage, plus a detached pole style paved/covered carport, garden shed, storage shed, and tool closets. The fenced yard (4' cyclone) includes mature landscaping, and a dedicated chicken coop! Come see!!

18. 2026-03-05
    price $347,000 974-char remark

    Show marketing remark (974 chars)

    Beautifully maintained home offering a blend of comfort, functionality, and thoughtful updates. The kitchen features maple cabinets with decorative upper display space, countertops, deep double sink, and access to the backyard/carport. The light filled living room includes a large picture window and a wood stove port ready to go, creating a warm and inviting main level living space. The spacious basement expands your living options with a large entertainment/media room, a non-conforming bedroom/den, an oversized laundry, abundant storage, and exterior access to the backyard. Energy efficient features include galvanized steel lap siding, vinyl windows, and a gas forced air furnace. Exterior amenities add exceptional versatility: attached covered carport, lean to storage, plus a detached pole style paved/covered carport, garden shed, storage shed, and tool closets. The fenced yard (4' cyclone) includes mature landscaping, and a dedicated chicken coop! Come see!!

19. 2026-02-20
    listed $352,000 Active 974-char remark

    Show marketing remark (974 chars)

    Beautifully maintained home offering a blend of comfort, functionality, and thoughtful updates. The kitchen features maple cabinets with decorative upper display space, countertops, deep double sink, and access to the backyard/carport. The light filled living room includes a large picture window and a wood stove port ready to go, creating a warm and inviting main level living space. The spacious basement expands your living options with a large entertainment/media room, a non-conforming bedroom/den, an oversized laundry, abundant storage, and exterior access to the backyard. Energy efficient features include galvanized steel lap siding, vinyl windows, and a gas forced air furnace. Exterior amenities add exceptional versatility: attached covered carport, lean to storage, plus a detached pole style paved/covered carport, garden shed, storage shed, and tool closets. The fenced yard (4' cyclone) includes mature landscaping, and a dedicated chicken coop! Come see!!

20. 2015-05-29
    soldstatus $136,000 417-char remark

    Show marketing remark (417 chars)

    Updated 4 Bed 1.5 Bath Spokane Valley Location 1-1/2 Story home with media room in basement located on a fenced corner lot. Newer Kitchen remodel, sink faucets and main bath has new tile. Metal siding and new vinyl windows and gas forced air heating. The basement has lots of storage and room to build a shop. Close to schools and shopping. Close to the Dishman Hills Hiking Area adjacent to Camp Caro Community Park.

21. 2015-05-28
    soldstatus $136,000
22. 2014-09-24
    listed $132,000 417-char remark

    Show marketing remark (417 chars)

    Updated 4 Bed 1.5 Bath Spokane Valley Location 1-1/2 Story home with media room in basement located on a fenced corner lot. Newer Kitchen remodel, sink faucets and main bath has new tile. Metal siding and new vinyl windows and gas forced air heating. The basement has lots of storage and room to build a shop. Close to schools and shopping. Close to the Dishman Hills Hiking Area adjacent to Camp Caro Community Park.

23. 2014-09-01
    historical
24. 2014-05-23
    listed $139,975
25. 2010-01-15
    soldstatus $130,000
26. 2010-01-14
    soldstatus $130,000
27. 2009-10-30
    listed $134,900
28. 2000-11-29
    soldstatus $86,500

ⓘ 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: $2,772 · $231/mo
• Projected year-2 tax: $3,352 · $279/mo
• Expected delta: +$580/yr (+$48/mo · 20.9%)

ⓘ 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 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 12 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,025
• − Mortgage interest: −$19,157
• − Property taxes: −$2,772
• − Insurance: −$1,710
• − Repairs & maintenance: −$1,842
• − Management: −$1,842
• − Depreciation: −$9,949
• Taxable loss: −$14,247
• Est. tax savings @ 24.0%: +$3,419
• After-tax cash flow: $-4,395/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): 41,089
• Household income: $81,764
• Rent vs Own: 38.5% rent · 61.5% own
• Severe rent burden: 1523.0

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% Two or more races 8% Hispanic / Latino 7% Black 2% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 5% Slovak 3% Lithuanian 3%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 93% 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: ▼ -377.59%
• Current HPI: 339.9959
• Rent YoY: ▲ 2.44%
• 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

+295.4% since first listed

12 events — show timeline

• 2026-03-30 Price Changed $342,000 SPOKANEMLS as Distributed by MLS Grid
• 2026-03-05 Price Changed $347,000 SPOKANEMLS as Distributed by MLS Grid
• 2026-02-20 Listed $352,000 SPOKANEMLS as Distributed by MLS Grid
• 2015-05-29 Sold (MLS) $136,000 SPOKANEMLS as Distributed by MLS Grid
• 2015-05-28 Sold (Public Records) $136,000 Public Records
• 2014-09-24 Listed $132,000 SPOKANEMLS as Distributed by MLS Grid
• 2014-09-01 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2014-05-23 Listed $139,975 SPOKANEMLS as Distributed by MLS Grid
• 2010-01-15 Sold (MLS) $130,000 SPOKANEMLS as Distributed by MLS Grid
• 2010-01-14 Sold (Public Records) $130,000 Public Records
• 2009-10-30 Listed $134,900 SPOKANEMLS as Distributed by MLS Grid
• 2000-11-29 Sold (Public Records) $86,500 Public Records

Property tax history

+4.2%/yr

Latest (2026): $2,772 · +5.4% YoY. Source: county tax records.