21725 E Wellesley Ave Spc 50 · Otis Orchards-East Farms, WA 99027

$95,000

3 bd · 2.0 ba · 1,080 sqft · Manufactured public records · 63 Days on market

Built 1991 3,840 sqft lot $88/sqft · 6% below area Est $101k · 6% under

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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
• ARV discount +10.0/15.0
• Schools +4.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for a place to call your own? Skip the high rent and settle into this charming double-wide 3-bed, 2-bath manufactured home in Otis Orchards. Located in the quiet Bona Vista Community, it sits on a spacious double lot and features a light-filled open layout, private primary suite, and fenced yard—perfect for a small pet or your dream garden. Enjoy outdoor living with a welcoming front porch and a raised flower bed, ready for your favorite plants. Two sheds (one 8x8 and one 8x10) provide extra storage, while a carport keeps your vehicle protected. Stay cool in the summer with two window AC units. Recently professionally cleaned and new tankless water heater. Enjoy shopping, dining, and Spokane Valley amenities close by.

Key facts

• 3,840 sq ft lot
• Parking
• Built 1991

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $95k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $89k (6.0% below list) — sets the bar for market timing.
• Cap rate 19.9% vs local median 1.8% in Otis Orchards-East Farms — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• East Valley School District (Spokane) (urban): math 40% / reading 56% proficiency, ranked #160 of 291 in WA (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 57 active listings in the ZIP; 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 $657 of loan paydown is wiped out by about $3k 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 $27k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 23y 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 $42k; list at $95k implies a 124% 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 $89,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 2.19% ✓
• Cap rate: 19.88%
• Cash-on-cash: 48.53%
• DSCR: 3.16
• GRM: 3.8

CMA / ARV

• ARV (median comp): $100,613
• List price: $95,000
• Delta: -5.58%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21725 E Wellesley Ave #49	0.01mi	3/2.0	924 (-14%)	13mo	$70,000	$76	64
22105 E Wellesley Ave #17	0.27mi	3/1.0	1,120 (+4%)	23mo	$105,000	$94	58
21725 E Wellesley Trlr 54 Ave #54	0.04mi	2/2.0 (-1)	924 (-14%)	14mo	$127,000	$137	58
22105 E Wellesley Ave Unit TRI 21	0.27mi	3/2.0	924 (-14%)	8mo	$46,000	$50	57
21725 E Wellesley Ave #41	0.04mi	2/1.0 (-1)	924 (-14%)	10mo	$63,500	$69	57
21725 E Wellesley Ave #46	0.02mi	2/1.0 (-1)	974 (-10%)	23mo	$105,000	$108	55
11705 N Wilson St Unit A-41	0.49mi	2/2.0 (-1)	1,026 (-5%)	13mo	$115,000	$112	53
22105 E Wellesley Ave #1	0.27mi	3/1.0	924 (-14%)	11mo	$72,900	$79	50
22105 E Wellesley Ave #13	0.27mi	2/1.0 (-1)	972 (-10%)	22mo	$100,000	$103	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 46.0%
• Equity multiple: 3.00×
• Total profit: $53,096
• Equity at exit: $14,165

10-year hold

• IRR: 51.8%
• Equity multiple: 6.05×
• Total profit: $134,361
• Equity at exit: $8,214

Cash invested: $26,600 (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 99027

• Home prices YoY: -20.5%
• Active inventory: 57
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $2,079 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$29 /mo · $343/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $1,076

Break-even live

Break-even rent $717

Max offer price $95,000

Occupancy floor 43%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-18
   days on market $95,000 Active 63 DOM
2. 2026-06-17
   days on market $95,000 Active 62 DOM
3. 2026-06-16
   days on market $95,000 Active 61 DOM
4. 2026-06-15
   days on market $95,000 Active 60 DOM
5. 2026-06-14
   days on market $95,000 Active 58 DOM
6. 2026-06-10
   days on market $95,000 Active 55 DOM
7. 2026-06-09
   days on market $95,000 Active 54 DOM
8. 2026-06-08
   days on market $95,000 Active 53 DOM
9. 2026-06-07
   days on market $95,000 Active 52 DOM
10. 2026-06-05
    days on market $95,000 Active 49 DOM
11. 2026-06-03
    days on market $95,000 Active 48 DOM
12. 2026-06-02
    days on market $95,000 Active 47 DOM
13. 2026-06-01
    days on market $95,000 Active 46 DOM
14. 2026-05-31
    days on market $95,000 Active 45 DOM
15. 2026-05-31
    days on market $95,000 Active 44 DOM
16. 2026-05-04
    status Active 741-char remark

    Show marketing remark (741 chars)

    Looking for a place to call your own? Skip the high rent and settle into this charming double-wide 3-bed, 2-bath manufactured home in Otis Orchards. Located in the quiet Bona Vista Community, it sits on a spacious double lot and features a light-filled open layout, private primary suite, and fenced yard—perfect for a small pet or your dream garden. Enjoy outdoor living with a welcoming front porch and a raised flower bed, ready for your favorite plants. Two sheds (one 8x8 and one 8x10) provide extra storage, while a carport keeps your vehicle protected. Stay cool in the summer with two window AC units. Recently professionally cleaned and new tankless water heater. Enjoy shopping, dining, and Spokane Valley amenities close by.

17. 2026-04-28
    status Pending 741-char remark

    Show marketing remark (741 chars)

    Looking for a place to call your own? Skip the high rent and settle into this charming double-wide 3-bed, 2-bath manufactured home in Otis Orchards. Located in the quiet Bona Vista Community, it sits on a spacious double lot and features a light-filled open layout, private primary suite, and fenced yard—perfect for a small pet or your dream garden. Enjoy outdoor living with a welcoming front porch and a raised flower bed, ready for your favorite plants. Two sheds (one 8x8 and one 8x10) provide extra storage, while a carport keeps your vehicle protected. Stay cool in the summer with two window AC units. Recently professionally cleaned and new tankless water heater. Enjoy shopping, dining, and Spokane Valley amenities close by.

18. 2026-04-10
    listed $95,000 Active 741-char remark

    Show marketing remark (741 chars)

    Looking for a place to call your own? Skip the high rent and settle into this charming double-wide 3-bed, 2-bath manufactured home in Otis Orchards. Located in the quiet Bona Vista Community, it sits on a spacious double lot and features a light-filled open layout, private primary suite, and fenced yard—perfect for a small pet or your dream garden. Enjoy outdoor living with a welcoming front porch and a raised flower bed, ready for your favorite plants. Two sheds (one 8x8 and one 8x10) provide extra storage, while a carport keeps your vehicle protected. Stay cool in the summer with two window AC units. Recently professionally cleaned and new tankless water heater. Enjoy shopping, dining, and Spokane Valley amenities close by.

19. 2016-06-08
    soldstatus $42,500 536-char remark

    Show marketing remark (536 chars)

    A very well maintained double-wide manufactured home. Updates include: new floors in living room & kitchen. New roof in 2011, new vinyl windows in 2012, new gas furnace and tankless hot water heater in 2016! There is a skylight for a bright kitchen and 3-bed & 2-baths. The washer & dryer stay, with 1-window A/C. There is a carport on the side with extra parking out front. 2-storage sheds & fenced yard. Park fees of $325.00 per month include water & sewer, upkeep on common areas & rd snow removal.

20. 2016-05-11
    historical 536-char remark

    Show marketing remark (536 chars)

    A very well maintained double-wide manufactured home. Updates include: new floors in living room & kitchen. New roof in 2011, new vinyl windows in 2012, new gas furnace and tankless hot water heater in 2016! There is a skylight for a bright kitchen and 3-bed & 2-baths. The washer & dryer stay, with 1-window A/C. There is a carport on the side with extra parking out front. 2-storage sheds & fenced yard. Park fees of $325.00 per month include water & sewer, upkeep on common areas & rd snow removal.

21. 2016-04-14
    listed $39,900 536-char remark

    Show marketing remark (536 chars)

    A very well maintained double-wide manufactured home. Updates include: new floors in living room & kitchen. New roof in 2011, new vinyl windows in 2012, new gas furnace and tankless hot water heater in 2016! There is a skylight for a bright kitchen and 3-bed & 2-baths. The washer & dryer stay, with 1-window A/C. There is a carport on the side with extra parking out front. 2-storage sheds & fenced yard. Park fees of $325.00 per month include water & sewer, upkeep on common areas & rd snow removal.

22. 2004-11-04
    soldstatus $35,500
23. 2004-09-10
    listed $35,500
24. 2004-09-03
    historical
25. 2004-03-03
    listed $35,500
26. 2003-10-14
    historical
27. 2003-08-13
    listed $38,000

ⓘ 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: $343 · $29/mo
• Projected year-2 tax: $931 · $78/mo
• Expected delta: +$588/yr (+$49/mo · 171.3%)

ⓘ 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 7/10 Severe
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 15 unhealthy d/yr today · 17 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,943
• − Mortgage interest: −$5,321
• − Property taxes: −$343
• − Insurance: −$475
• − Repairs & maintenance: −$1,995
• − Management: −$1,995
• − Depreciation: −$2,764
• Taxable income: $12,049
• Est. tax owed @ 24.0%: −$2,892
• After-tax cash flow: $10,017/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: East Valley School District (Spokane)
• NCES district ID: 5302280
• Math proficiency: 40% ▼ -5.00%
• Reading proficiency: 56% ▼ -4.00%
• Median HH income: $49,557
• Composite: 43.15/100
• National rank: #6603
• State rank: #160 of 291 in WA

Livability — Otis Orchards-East Farms

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Otis Orchards-East Farms, WA
• Population (ZIP): 5,878

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 (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Slovak 6% Portuguese 3% Lithuanian 2%
• Foreign-born: 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: ▼ -92.71%
• Current HPI: 360.3438
• Rent YoY: —
• Metro: —
• 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

+150.0% since first listed

12 events — show timeline

• 2026-05-04 Relisted — SPOKANEMLS as Distributed by MLS Grid
• 2026-04-28 Pending — SPOKANEMLS as Distributed by MLS Grid
• 2026-04-10 Listed $95,000 SPOKANEMLS as Distributed by MLS Grid
• 2016-06-08 Sold (MLS) $42,500 SPOKANEMLS as Distributed by MLS Grid
• 2016-05-11 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2016-04-14 Listed $39,900 SPOKANEMLS as Distributed by MLS Grid
• 2004-11-04 Sold (MLS) $35,500 SPOKANEMLS as Distributed by MLS Grid
• 2004-09-10 Listed $35,500 SPOKANEMLS as Distributed by MLS Grid
• 2004-09-03 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2004-03-03 Listed $35,500 SPOKANEMLS as Distributed by MLS Grid
• 2003-10-14 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2003-08-13 Listed $38,000 SPOKANEMLS as Distributed by MLS Grid

Property tax history

+4.2%/yr

Latest (2026): $343 · +1.3% YoY. Source: county tax records.