3110 E Chattaroy Rd #48 · Mead, WA 99003

$63,000

2 bd · 1.0 ba · 980 sqft · Manufactured public records · 71 Days on market

Built 1980 $64/sqft · at area comps Est $60k · at est. ↓ 7% 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
• ARV discount +5.4/15.0
• Schools +4.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 2-Bedroom Home in Peaceful Chattaroy Valley Estates Enjoy peaceful living in the charming Chattaroy Valley Estates community with this well-cared-for 1980 single-wide home, offering 2 bedrooms, 1 bathroom, and 980 sq. ft. of comfortable living space. Step inside to find an inviting layout featuring a spacious living room that flows seamlessly into the dining area and a functional kitchen with plenty of cabinet storage and a convenient pantry. The primary bedroom offers generous space and a large closet, while the second bedroom provides flexibility for guests, a home office, or hobbies. Outside, you’ll find room to relax, garden, or play, with a peaceful backdrop that borders a neighboring property for added privacy. Residents of Chattaroy Valley Estates enjoy access to wonderful community amenities, including a sparkling pool and a grassy, park-like common area. Experience the best of affordable, low-maintenance living in a quiet, friendly neighborhood—this lovely home is ready to welcome you!

Key facts

• Functional kitchen
• Peaceful backdrop
• Large closet

Tags

• SPACIOUS LIVING ROOM
• FUNCTIONAL KITCHEN
• LARGE CLOSET
• COMMUNITY AMENITIES
• PARK-LIKE COMMON AREA
• PEACEFUL BACKDROP

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $63k.

Deal economics

• At list price, monthly cash flow is $501 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $63k).
• Recommended offer: $59k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.8% vs local median 2.3% in Mead — 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 63/100 on livability (#388 in WA) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, schools B+; Watch: amenities F, commute F.
• Riverside School District (rural): math 45% / reading 54% proficiency, ranked #144 of 291 in WA (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 103 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $436 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 + 3.0% rent growth), your $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $59,220 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 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. 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?
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: 1.75% ✓
• Cap rate: 15.83%
• Cash-on-cash: 34.05%
• DSCR: 2.52
• GRM: 4.8

CMA / ARV

• ARV (median comp): $60,244
• List price: $63,000
• Delta: 4.57%
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3110 E Chattaroy # 3 Rd	0.00mi	3/1.0 (+1)	924 (-6%)	15mo	$58,000	$63	73
3110 Chattaroy Rd #49	0.00mi	2/1.0	1,100 (+12%)	9mo	$60,000	$55	72
3110 E Chattaroy Rd #1	0.00mi	3/2.0 (+1)	1,026 (+5%)	16mo	$125,000	$122	70

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: 29.4%
• Equity multiple: 2.23×
• Total profit: $21,647
• Equity at exit: $9,394

10-year hold

• IRR: 36.7%
• Equity multiple: 4.39×
• Total profit: $59,801
• Equity at exit: $5,447

Cash invested: $17,640 (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 99003

• Home prices YoY: -12.1%
• Active inventory: 103
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,100 medium
• Mortgage (P&I): −$330
• Tax from tax record: −$12 /mo · $142/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $501

Break-even live

Break-even rent $466

Max offer price $63,000

Occupancy floor 50%

Sensitivity live

Price	-10% $536	-5% $518	+0% $501	+5% $483	+10% $465
Rent	-10% $414	-5% $457	+0% $501	+5% $544	+10% $587
Rate	-1.0pp $532	-0.5pp $517	base $501	+0.5pp $484	+1.0pp $468

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: $15,750
• Closing costs: $1,890
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4001 E Denison-Chattaroy Rd Unit 5 Chattaroy, WA	2.0	1.0	784	$1,100	$1.40	24d	1	1.23mi

Listing history 7 events

1. 2026-05-07
   status Pending 1030-char remark

   Show marketing remark (1030 chars)

   Charming 2-Bedroom Home in Peaceful Chattaroy Valley Estates Enjoy peaceful living in the charming Chattaroy Valley Estates community with this well-cared-for 1980 single-wide home, offering 2 bedrooms, 1 bathroom, and 980 sq. ft. of comfortable living space. Step inside to find an inviting layout featuring a spacious living room that flows seamlessly into the dining area and a functional kitchen with plenty of cabinet storage and a convenient pantry. The primary bedroom offers generous space and a large closet, while the second bedroom provides flexibility for guests, a home office, or hobbies. Outside, you’ll find room to relax, garden, or play, with a peaceful backdrop that borders a neighboring property for added privacy. Residents of Chattaroy Valley Estates enjoy access to wonderful community amenities, including a sparkling pool and a grassy, park-like common area. Experience the best of affordable, low-maintenance living in a quiet, friendly neighborhood—this lovely home is ready to welcome you!

2. 2026-03-20
   price $63,000 1030-char remark

   Show marketing remark (1030 chars)

   Charming 2-Bedroom Home in Peaceful Chattaroy Valley Estates Enjoy peaceful living in the charming Chattaroy Valley Estates community with this well-cared-for 1980 single-wide home, offering 2 bedrooms, 1 bathroom, and 980 sq. ft. of comfortable living space. Step inside to find an inviting layout featuring a spacious living room that flows seamlessly into the dining area and a functional kitchen with plenty of cabinet storage and a convenient pantry. The primary bedroom offers generous space and a large closet, while the second bedroom provides flexibility for guests, a home office, or hobbies. Outside, you’ll find room to relax, garden, or play, with a peaceful backdrop that borders a neighboring property for added privacy. Residents of Chattaroy Valley Estates enjoy access to wonderful community amenities, including a sparkling pool and a grassy, park-like common area. Experience the best of affordable, low-maintenance living in a quiet, friendly neighborhood—this lovely home is ready to welcome you!

3. 2026-03-05
   status Active 1030-char remark

   Show marketing remark (1030 chars)

   Charming 2-Bedroom Home in Peaceful Chattaroy Valley Estates Enjoy peaceful living in the charming Chattaroy Valley Estates community with this well-cared-for 1980 single-wide home, offering 2 bedrooms, 1 bathroom, and 980 sq. ft. of comfortable living space. Step inside to find an inviting layout featuring a spacious living room that flows seamlessly into the dining area and a functional kitchen with plenty of cabinet storage and a convenient pantry. The primary bedroom offers generous space and a large closet, while the second bedroom provides flexibility for guests, a home office, or hobbies. Outside, you’ll find room to relax, garden, or play, with a peaceful backdrop that borders a neighboring property for added privacy. Residents of Chattaroy Valley Estates enjoy access to wonderful community amenities, including a sparkling pool and a grassy, park-like common area. Experience the best of affordable, low-maintenance living in a quiet, friendly neighborhood—this lovely home is ready to welcome you!

4. 2026-02-06
   status Pending 1030-char remark

   Show marketing remark (1030 chars)

   Charming 2-Bedroom Home in Peaceful Chattaroy Valley Estates Enjoy peaceful living in the charming Chattaroy Valley Estates community with this well-cared-for 1980 single-wide home, offering 2 bedrooms, 1 bathroom, and 980 sq. ft. of comfortable living space. Step inside to find an inviting layout featuring a spacious living room that flows seamlessly into the dining area and a functional kitchen with plenty of cabinet storage and a convenient pantry. The primary bedroom offers generous space and a large closet, while the second bedroom provides flexibility for guests, a home office, or hobbies. Outside, you’ll find room to relax, garden, or play, with a peaceful backdrop that borders a neighboring property for added privacy. Residents of Chattaroy Valley Estates enjoy access to wonderful community amenities, including a sparkling pool and a grassy, park-like common area. Experience the best of affordable, low-maintenance living in a quiet, friendly neighborhood—this lovely home is ready to welcome you!

5. 2026-01-29
   listed $68,000 Active 1030-char remark

   Show marketing remark (1030 chars)

   Charming 2-Bedroom Home in Peaceful Chattaroy Valley Estates Enjoy peaceful living in the charming Chattaroy Valley Estates community with this well-cared-for 1980 single-wide home, offering 2 bedrooms, 1 bathroom, and 980 sq. ft. of comfortable living space. Step inside to find an inviting layout featuring a spacious living room that flows seamlessly into the dining area and a functional kitchen with plenty of cabinet storage and a convenient pantry. The primary bedroom offers generous space and a large closet, while the second bedroom provides flexibility for guests, a home office, or hobbies. Outside, you’ll find room to relax, garden, or play, with a peaceful backdrop that borders a neighboring property for added privacy. Residents of Chattaroy Valley Estates enjoy access to wonderful community amenities, including a sparkling pool and a grassy, park-like common area. Experience the best of affordable, low-maintenance living in a quiet, friendly neighborhood—this lovely home is ready to welcome you!

6. 2025-12-31
   historical
7. 2025-11-06
   listed $68,000 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: $142 · $12/mo
• Projected year-2 tax: $617 · $51/mo
• Expected delta: +$476/yr (+$40/mo · 335.2%)

ⓘ 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 8/10 Severe
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 15 unhealthy d/yr today · 19 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,200
• − Mortgage interest: −$3,529
• − Property taxes: −$142
• − Insurance: −$315
• − Repairs & maintenance: −$1,056
• − Management: −$1,056
• − Depreciation: −$1,833
• Taxable income: $5,269
• Est. tax owed @ 24.0%: −$1,265
• After-tax cash flow: $4,742/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: Riverside School District
• NCES district ID: 5307440
• Math proficiency: 45% ▲ 1.00%
• Reading proficiency: 54% ▲ 3.00%
• Median HH income: $58,674
• Composite: 45.22/100
• National rank: #5773
• State rank: #144 of 291 in WA

Livability — Mead

• Score: 63/100
• State rank: #388
• US rank: #15310

Category grades

Amenities F Commute F Cost of living C Crime C Employment B Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,634

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 (81%)
• Race & ethnicity: White 81% Two or more races 12% Hispanic / Latino 5% Native American 3% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 7% Slovak 4% Iranian 3%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Tagalog/Filipino 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: ▼ -55.60%
• Current HPI: 403.0044
• 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

-7.4% since first listed

7 events — show timeline

• 2026-05-07 Pending — SPOKANEMLS as Distributed by MLS Grid
• 2026-03-20 Price Changed $63,000 SPOKANEMLS as Distributed by MLS Grid
• 2026-03-05 Relisted — SPOKANEMLS as Distributed by MLS Grid
• 2026-02-06 Pending — SPOKANEMLS as Distributed by MLS Grid
• 2026-01-29 Listed $68,000 SPOKANEMLS as Distributed by MLS Grid
• 2025-12-31 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2025-11-06 Listed $68,000 SPOKANEMLS as Distributed by MLS Grid

Property tax history

+7.8%/yr

Latest (2026): $142 · +7.7% YoY. Source: county tax records.