6300 E 2nd Ave #72 · Spokane Valley, WA 99212

$50,000

2 bd · 1.0 ba · 840 sqft · Manufactured public records · 27 Days on market

Built 1973 Est $43k · 17% over

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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).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.6/10.0
• Livability +4.2/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Single-wide home offering 2 bedrooms, 2 bathrooms, and 840 square feet of functional living space. The layout features an open living area with vaulted ceilings, along with a kitchen that provides ample cabinet storage and connects to a dedicated dining nook. The floor plan includes two primary suites, each with built-in storage, generous closet space, and a private en-suite bathroom with walk-in shower. Outside, the property includes a covered ramp for accessibility, a covered patio, and a garden bed area. Located in Valley Breeze Park, a 55+ community, offering an opportunity for affordable homeownership.

Key facts

• Open living area
• Vaulted ceilings
• Built-in storage

Tags

• OPEN LIVING AREA
• VAULTED CEILINGS
• AMPLE CABINET STORAGE
• DEDICATED DINING NOOK
• BUILT-IN STORAGE
• GENEROUS CLOSET SPACE

Property features AI

Finance

• Other: Living area 840 (from public records)
• Financial info: Land lease amount: $575 per month
• HOA & community: Located in a senior community (Valley Breeze); Monthly land lease

Exterior

• Parking: Carport
• Home design: Manufactured home; Single-story (manufactured house); Lamplighter make
• Construction: Steel frame construction; Metal roof; Built with manufactured house structure
• Exterior features: Level, open lot with garden; Paved road and city street frontage

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 2 bedrooms
• Heating & cooling: Natural gas forced air heating
• Interior features: Utility room; Crawl space basement; Skirted foundation; Ramp to main level (accessibility feature)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $50k.

Deal economics

• At list price, monthly cash flow is $797 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.
• Cap rate 25.4% 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+.
• 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: Ferris High School (1,631 students, 48% FRL) — zoned schools at 48% FRL track the district average.
• Market conditions: Rents rising (+3.5%/yr); 187 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $346 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 + 3.5% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• 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 $49,250 (1.5% below list)

Questions for the listing agent

1. Built in 1973 — 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 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?
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: 2.76% ✓
• Cap rate: 25.42%
• Cash-on-cash: 68.30%
• DSCR: 4.04
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $42,840
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6300 E 2nd Ave #101	0.00mi	2/1.0	720 (-14%)	1mo	$63,000	$88	75
5820 E 4th Ave #10	0.36mi	2/1.0	784 (-7%)	3mo	$39,950	$51	70
6300 E 2nd Ave #126	0.00mi	3/1.0 (+1)	924 (+10%)	12mo	$40,000	$43	68
5820 E 4th Ave #31	0.38mi	3/1.0 (+1)	784 (-7%)	1mo	$39,500	$50	65
6300 E 2nd Ave #98	0.00mi	3/2.0 (+1)	924 (+10%)	13mo	$55,000	$60	64
6300 E 2nd Ave Trlr 129	0.00mi	2/1.0	952 (+13%)	21mo	$25,450	$27	60
6821 E 7th Ave	0.44mi	2/2.0	900 (+7%)	10mo	$120,000	$133	56

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 · 3.49% rent growth · sell at horizon

5-year hold

• IRR: 68.2%
• Equity multiple: 4.09×
• Total profit: $43,319
• Equity at exit: $7,455

10-year hold

• IRR: 72.5%
• Equity multiple: 8.56×
• Total profit: $105,860
• Equity at exit: $4,323

Cash invested: $14,000 (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 99212

• Rents YoY: 3.5%
• Active inventory: 187
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,381 high
• Mortgage (P&I): −$262
• Tax from tax record: −$12 /mo · $138/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $797

Break-even live

Break-even rent $373

Max offer price $50,000

Occupancy floor 37%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
402 S Eastern Rd Spokane Valley, WA	1.0–2.0	1.0	715	$1,095	$1.53	14d	3	0.15mi
6121 E 6th Ave Spokane Valley, WA	1.0	1.0	585	$1,150	$1.97	23d	1	0.20mi
6020 E 4th Ave Spokane Valley, WA	1.0–2.0	1.0–2.0	735	$1,695	$2.30	14d	5	0.25mi
6017 E 6th Ave Unit M104 Spokane Valley, WA	2.0	1.0	777	$1,600	$2.06	14d	1	0.30mi
5004 E 1st Ave Spokane Valley, WA	2.0	1.0	900	$1,250	$1.39	14d	1	0.82mi
225 S Dearborn Rd Unit 4 Spokane Valley, WA	2.0	1.0	560	$1,150	$2.05	23d	1	1.12mi
4405 E 5th Ave Spokane Valley, WA	2.0	1.0	650	$1,175	$1.81	14d	2	1.17mi
4405 E 5th Ave Unit 36 Spokane Valley, WA	2.0	1.0	640	$1,150	$1.80	23d	1	1.20mi
916 N Ella Rd Apt 55 Spokane Valley, WA	2.0	1.5	950	$1,450	$1.53	43d	1	1.22mi
916 N Ella Rd Unit 16 Spokane Valley, WA	2.0	1.0	750	$1,200	$1.60	43d	1	1.22mi

Listing history 17 events

1. 2026-06-18
   days on market $50,000 Active 27 DOM
2. 2026-06-17
   days on market $50,000 Active 26 DOM
3. 2026-06-16
   days on market $50,000 Active 25 DOM
4. 2026-06-15
   days on market $50,000 Active 24 DOM
5. 2026-06-14
   days on market $50,000 Active 22 DOM
6. 2026-06-10
   days on market $50,000 Active 19 DOM
7. 2026-06-09
   days on market $50,000 Active 18 DOM
8. 2026-06-08
   days on market $50,000 Active 17 DOM
9. 2026-06-07
   days on market $50,000 Active 16 DOM
10. 2026-06-03
    days on market $50,000 Active 12 DOM
11. 2026-06-02
    days on market $50,000 Active 11 DOM
12. 2026-06-01
    days on market $50,000 Active 10 DOM
13. 2026-05-31
    days on market $50,000 Active 9 DOM
14. 2026-05-31
    days on market $50,000 Active 8 DOM
15. 2026-05-22
    historical
16. 2026-05-22
    listed $50,000 Active
17. 2026-04-07
    listed $50,000 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: $138 · $12/mo
• Projected year-2 tax: $490 · $41/mo
• Expected delta: +$352/yr (+$29/mo · 254.4%)

ⓘ 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 17 unhealthy d/yr today · 17 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,577
• − Mortgage interest: −$2,801
• − Property taxes: −$138
• − Insurance: −$250
• − Repairs & maintenance: −$1,326
• − Management: −$1,326
• − Depreciation: −$1,455
• Taxable income: $9,281
• Est. tax owed @ 24.0%: −$2,228
• After-tax cash flow: $7,334/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 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): 21,707
• Household income: $67,049
• Rent vs Own: 30.9% rent · 69.1% own
• Severe rent burden: 842.0

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 (86%)
• Race & ethnicity: White 86% Two or more races 8% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 4% Slovak 3% Lithuanian 3%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Russian/Polish/Slavic 3% 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: ▼ -316.37%
• Current HPI: 361.41
• Rent YoY: ▲ 3.49%
• 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

+0.0% since first listed

3 events — show timeline

• 2026-05-22 Listed $50,000 SPOKANEMLS as Distributed by MLS Grid
• 2026-05-22 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2026-04-07 Listed $50,000 SPOKANEMLS as Distributed by MLS Grid

Property tax history

+8.9%/yr

Latest (2026): $138 · +16.7% YoY. Source: county tax records.