3016 E Flintlock Ct · Mead, WA 99021

$140,000

3 bd · 2.0 ba · 1,404 sqft · Manufactured public records · 16 Days on market

Built 1994 Est $153k · 9% 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
• ARV discount +11.3/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +6.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

What an inviting place! This light and bright 3 bed, 2 bath home feels fresh as a daisy. Brand new exterior paint really ups the curb appeal, and the recently painted interior feels so crisp and clean. The huge kitchen is bathed in natural light, thanks to plenty of newer vinyl windows and a skylight. SO much storage in all the beautiful cabinets. Main floor laundry room around the corner makes that household chore much easier. The primary bedroom is spacious and features an ensuite. Vaulted great room ceilings add a welcoming, expansive feeling to the living area, which also boasts brand new carpet. Two additional bedrooms and a full bath round out the floorplan. Outdoors you'll find a han

Key facts

• New exterior paint
• Natural light
• Storage shed

Tags

• NEW EXTERIOR PAINT
• HUGE KITCHEN
• NATURAL LIGHT
• MAIN FLOOR LAUNDRY ROOM
• VAULTED GREAT ROOM CEILINGS
• STORAGE SHED

Property features AI

Finance

• Other: $488 annual tax (public record)
• Financial info: Monthly land lease: $580
• HOA & community: Located in Shenandoah West park; Land lease applies

Exterior

• Parking: Attached parking; Carport (1 space); Additional off-site parking
• Utilities: High-speed internet available (Direct TV)
• Home design: Residential manufactured home; One-story; Marlette model
• Construction: Masonite siding; Composition roof; Built on foundation consistent with manufactured homes
• Exterior features: Level lot; Located on a cul-de-sac; Paved road and city street frontage

Interior

• Kitchen: Free-standing range; Dishwasher; Refrigerator
• Bedrooms: 3 bedrooms
• Heating & cooling: Electric forced air heating; Central air conditioning
• Interior features: Cathedral ceilings; Utility room
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $140k.

Deal economics

• At list price, monthly cash flow is $819 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $138k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.3% 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+, employment B; Watch: amenities F, commute F.
• Mead School District (suburban): math 63% / reading 72% proficiency, ranked #23 of 291 in WA (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Meadow Ridge Elementary (395 students, 32% FRL); Mt Spokane High School (1,493 students, 33% FRL).
• Market conditions: 91 active listings in the ZIP; 2 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 $968 of loan paydown is wiped out by about $4k 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 $39k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $137,900 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.62% ✓
• Cap rate: 13.31%
• Cash-on-cash: 25.07%
• DSCR: 2.12
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $153,036
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3420 E Georgia Pines Ln	0.33mi	3/2.0	1,400 (-0%)	6mo	$118,800	$85	79
3407 E Yankee Ln	0.28mi	3/2.0	1,456 (+4%)	11mo	$158,500	$109	71
3110 E Vicksburg Ln	0.12mi	3/2.0	1,528 (+9%)	10mo	$114,000	$75	71
14719 N Farragut Ln	0.07mi	3/2.0	1,215 (-14%)	4mo	$150,000	$123	71
14820 N Chesapeake Ln	0.16mi	3/2.0	1,596 (+14%)	1mo	$166,800	$105	69
14622 N Chattanooga Ln	0.17mi	3/2.0	1,279 (-9%)	12mo	$228,000	$178	67
3307 E Valley Forge Ln	0.24mi	3/2.0	1,296 (-8%)	11mo	$135,000	$104	67
15005 N Surrey Ln	0.36mi	2/2.0 (-1)	1,456 (+4%)	6mo	$137,500	$94	67
14726 N Surrey Ln	0.36mi	2/2.0 (-1)	1,344 (-4%)	14mo	$155,000	$115	60
3407 E Valley Forge Ln	0.29mi	3/2.0	1,260 (-10%)	12mo	$150,000	$119	59
14904 N Chesapeake Ln	0.18mi	2/2.0 (-1)	1,568 (+12%)	13mo	$160,000	$102	57
14825 N Dixie Ln	0.22mi	2/2.0 (-1)	1,232 (-12%)	9mo	$145,000	$118	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.6%
• Equity multiple: 1.75×
• Total profit: $29,499
• Equity at exit: $20,874

10-year hold

• IRR: 26.9%
• Equity multiple: 3.37×
• Total profit: $92,979
• Equity at exit: $12,105

Cash invested: $39,200 (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 99021

• Home prices YoY: -18.1%
• Active inventory: 91
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $2,261 medium
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,100/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$475
• Net cashflow: $819

Break-even live

Break-even rent $1,225

Max offer price $140,000

Occupancy floor 59%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2228 E Winger Rd Spokane, WA	3.0	2.0	1500	$2,150	$1.43	44d	1	0.99mi
1019 E Brooklawn Dr Spokane, WA	3.0	2.0	1480	$2,400	$1.62	14d	1	1.25mi

Listing history 12 events

1. 2026-06-18
   days on market $140,000 Active 16 DOM
2. 2026-06-17
   days on market $140,000 Active 15 DOM
3. 2026-06-16
   days on market $140,000 Active 14 DOM
4. 2026-06-15
   days on market $140,000 Active 13 DOM
5. 2026-06-14
   days on market $140,000 Active 11 DOM
6. 2026-06-13
   days on market $140,000 Active 10 DOM
7. 2026-06-10
   days on market $140,000 Active 8 DOM
8. 2026-06-09
   days on market $140,000 Active 7 DOM
9. 2026-06-08
   days on market $140,000 Active 6 DOM
10. 2026-06-07
    days on market $140,000 Active 5 DOM
11. 2026-06-03
    remarks 699-char remark
12. 2026-06-03
    listed $140,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥94°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 17 unhealthy d/yr today · 20 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,134
• − Mortgage interest: −$7,842
• − Property taxes: −$2,100
• − Insurance: −$700
• − Repairs & maintenance: −$2,171
• − Management: −$2,171
• − Depreciation: −$4,073
• Taxable income: $8,078
• Est. tax owed @ 24.0%: −$1,939
• After-tax cash flow: $7,887/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: Mead School District
• NCES district ID: 5304920
• Math proficiency: 63% ▲ 1.00%
• Reading proficiency: 72% ▲ 1.00%
• Median HH income: $64,176
• Composite: 59.93/100
• National rank: #1811
• State rank: #23 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

• Census place: Mead, WA
• Population (ZIP): 9,226

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% Hispanic / Latino 7% Two or more races 5% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 5% Portuguese 5% Scottish 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Russian/Polish/Slavic 1% 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: ▼ -78.33%
• Current HPI: 354.3985
• 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

1 event — show timeline

• 2026-06-02 Listed $140,000 SPOKANEMLS as Distributed by MLS Grid