1211 E Lyons Ave #88 · Spokane, WA 99208

$59,999

2 bd · 2.0 ba · 1,169 sqft · Manufactured public records · 36 Days on market

Built 1980 Est $70k · 14% 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 +14.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.6/10.0
• Livability +4.0/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

1140 sq ft manufactured single wide w/ 2 bedrooms, 2 baths & 12x28 sf carport. 1980 built, located on north side in Contempo Mobile Home Park. 1 block from strip malls, Albertson's & bus route. Electric f/a ht, central air & sunroom. $415 a month leases land & covers water, sewer, garbage, snow removal & maintains common grounds. Enjoy the recreation center, pool, Jacuzzi & professional kitchen meeting rooms. CASH ONLY sale. Have your realtor download the additional info in Assoc Docs.

Key facts

• Covered parking
• Clubhouse
• Hot tub

Tags

• CONTEMPO 55 COMMUNITY
• ADDITIONAL ADD ON SPACE
• COVERED PARKING
• CLUBHOUSE
• HEATED POOL
• HOT TUB

Property features AI

Finance

• Financial info: Monthly land lease: $750
• HOA & community: Located in a senior community (Contempo MHP)

Exterior

• Parking: Carport (1 space)
• Utilities: Public records list living area and building area as 1,140 square feet
• Home design: Manufactured home; Single-story (manufactured structure)
• Construction: Steel frame construction; Flat metal roof; Block foundation (skirted, axle removed)
• Exterior features: Level lot; City bus within about 6 blocks; Private, paved road frontage; Community pool; Skirted foundation

Interior

• Kitchen: Free-standing range; Refrigerator
• Bedrooms: 2 bedrooms
• Heating & cooling: Electric forced air heating; Central air conditioning
• Interior features: Wood-burning fireplace with insert; Free-standing range; Refrigerator
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $60k.

Deal economics

• At list price, monthly cash flow is $805 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 22.4% vs local median 3.2% in Spokane — 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 80/100 on livability (#93 in WA, #1,822 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime F.
• 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: Arlington Elementary (399 students, 84% FRL); Rogers High School (1,536 students, 83% FRL) — zoned schools average 84% FRL vs 50% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 462 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $415 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 + 0.5% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y ago; this cycle's ask has dropped $5k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $22k; list at $60k implies a 173% gain — meaningful room to come down on a strong offer.

Recommended offer $58,199 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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 F 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: 2.48% ✓
• Cap rate: 22.38%
• Cash-on-cash: 57.47%
• DSCR: 3.56
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $70,140
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1205 E Lyons Rd #162	0.17mi	2/1.0	1,124 (-4%)	3mo	$68,000	$60	79
1209 E Lyons Ave #219	0.17mi	2/1.0	1,176 (+1%)	23mo	$68,900	$59	68
1211 E Lyons Ave #83	0.00mi	3/2.0 (+1)	1,344 (+15%)	5mo	$93,000	$69	66
1209 E Lyons Ave Unit CONTEMPO MOBILE HOME PARK SPACE 209	0.17mi	2/1.0	1,100 (-6%)	22mo	$60,000	$55	60
1205 E Lyons Ave #156	0.17mi	2/2.0	1,260 (+8%)	24mo	$60,000	$48	59
7303 N Crestline St #35	0.66mi	2/2.0	1,064 (-9%)	4mo	$56,170	$53	51
1205 E Lyons Ave #8	0.17mi	2/2.0	1,344 (+15%)	23mo	$140,000	$104	48
6805 N Crestline St #32	0.52mi	3/2.0 (+1)	1,248 (+7%)	19mo	$105,000	$84	44

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 · 0.46% rent growth · sell at horizon

5-year hold

• IRR: 53.1%
• Equity multiple: 3.25×
• Total profit: $37,805
• Equity at exit: $8,946

10-year hold

• IRR: 57.4%
• Equity multiple: 6.02×
• Total profit: $84,411
• Equity at exit: $5,188

Cash invested: $16,800 (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 99208

• Rents YoY: 0.5%
• Active inventory: 462
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,489 high
• Mortgage (P&I): −$315
• Tax from tax record: −$32 /mo · $388/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $805

Break-even live

Break-even rent $471

Max offer price $59,999

Occupancy floor 41%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6980 N Nevada St Spokane, WA	1.0–2.0	1.0	622	$1,383	$2.22	23d	1	0.26mi
910 E Holyoke Ave Spokane, WA	1.0–2.0	1.0	755	$1,425	$1.89	14d	4	0.28mi
1015 E Cozza Dr Unit 14 Spokane, WA	2.0	1.0	902	$1,110	$1.23	23d	1	0.33mi
617 E Houston Ave Unit HH340 Spokane, WA	2.0	1.0	710	$1,100	$1.55	14d	1	0.41mi
723 E Sitka Spokane, WA	2.0	2.0	1400	$1,875	$1.34	14d	1	0.44mi
6603 N Standard St Unit 6605 Spokane, WA	2.0	1.0	750	$1,200	$1.60	23d	1	0.47mi
1011 E Sharpsburg Ave Unit 494 Spokane, WA	2.0	1.0	902	$1,150	$1.27	23d	1	0.52mi
6107 N Standard St Spokane, WA	2.0	1.5	850	$2,350	$2.76	23d	1	0.60mi
510 E Dalke Ave Spokane, WA	2.0	1.0	1500	$1,595	$1.06	21d	1	0.69mi
1718 E Lincoln Rd Spokane, WA	1.0–2.0	1.0–2.0	975	$1,795	$1.84	14d	10	0.71mi
6203 N Astor St Unit 2 Spokane, WA	2.0	1.5	1100	$1,400	$1.27	21d	1	0.72mi
6203 N Astor St Spokane, WA	2.0	1.0	1100	$1,400	$1.27	14d	1	0.72mi
7024 N Colton St Spokane, WA	2.0	2.0	1082	$1,385	$1.28	14d	1	0.73mi
121 E Wedgewood Ave Spokane, WA	1.0–3.0	1.0–1.5	833	$1,205	$1.45	14d	17	0.74mi
2414 E Francis Ave Unit 1 Spokane, WA	2.0	1.0	800	$1,200	$1.50	14d	1	0.84mi
824 E North Ave Unit 824 Spokane, WA	2.0	1.0	770	$1,195	$1.55	23d	1	0.86mi
6029 N Mayfair St Unit 7 Spokane, WA	1.0	1.0	725	$1,025	$1.41	14d	1	0.93mi
2420 E Joseph Ave Spokane, WA	3.0	2.5	1268	$1,900	$1.50	23d	1	1.03mi
6229 N Regal St Unit B Spokane, WA	2.0	1.0	822	$1,150	$1.40	23d	1	1.10mi
2506 E Rowan Ave Unit 2508 Spokane, WA	2.0	1.0	760	$1,350	$1.78	23d	1	1.16mi
636 E Magnesium Rd Spokane, WA	1.0–3.0	1.0–3.0	1053	$1,780	$1.69	14d	12	1.22mi
3015 E Central Ave Apt 1 Spokane, WA	2.0	1.0	736	$1,000	$1.36	23d	1	1.30mi
1910 E Wellesley Ave Unit 1912 Spokane, WA	2.0	1.0	800	$1,125	$1.41	23d	1	1.37mi
8422 N Mayfair St Unit 2 Spokane, WA	2.0	1.0	800	$1,195	$1.49	23d	1	1.39mi
401 E Magnesium Rd Spokane, WA	1.0–2.0	1.0	730	$1,290	$1.77	44d	4	1.40mi
849 E Magnesium Rd Spokane, WA	1.0–3.0	1.0–2.0	931	$1,512	$1.62	14d	6	1.42mi
39 E Mayfair Ct Apt 2 Spokane, WA	2.0	1.0	850	$995	$1.17	44d	1	1.45mi
8719 N Hill N Dale St Spokane, WA	1.0–3.0	1.0–1.5	850	$1,356	$1.59	14d	8	1.46mi
20 E Pineridge Ct Spokane, WA	1.0	1.0	625	$1,375	$2.20	23d	2	1.48mi

Listing history 20 events

1. 2026-06-18
   days on market $59,999 Active 36 DOM
2. 2026-06-18
   price $59,999 Active 35 DOM
3. 2026-06-17
   days on market $64,999 Active 35 DOM
4. 2026-06-16
   days on market $64,999 Active 34 DOM
5. 2026-06-15
   days on market $64,999 Active 33 DOM
6. 2026-06-14
   days on market $64,999 Active 31 DOM
7. 2026-06-10
   days on market $64,999 Active 28 DOM
8. 2026-06-09
   days on market $64,999 Active 27 DOM
9. 2026-06-08
   days on market $64,999 Active 26 DOM
10. 2026-06-07
    days on market $64,999 Active 25 DOM
11. 2026-06-03
    days on market $64,999 Active 23 DOM
12. 2026-06-02
    days on market $64,999 Active 22 DOM
13. 2026-06-01
    days on market $64,999 Active 21 DOM
14. 2026-05-31
    days on market $64,999 Active 20 DOM
15. 2026-05-31
    days on market $64,999 Active 19 DOM
16. 2026-05-08
    listed $64,999 Active
17. 2016-06-08
    soldstatus $21,999 526-char remark

    Show marketing remark (526 chars)

    1140 sq ft manufactured single wide w/ 2 bedrooms, 2 baths & 12x28 sf carport. 1980 built, located on north side in Contempo Mobile Home Park. 1 block from strip malls, Albertson's & bus route. Electric f/a ht, central air & sunroom. $415 a month leases land & covers water, sewer, garbage, snow removal & maintains common grounds. Enjoy the recreation center, pool, Jacuzzi & professional kitchen meeting rooms. CASH ONLY sale. Have your realtor download the additional info in Assoc Docs.

18. 2016-05-16
    listed $21,999 526-char remark

    Show marketing remark (526 chars)

    1140 sq ft manufactured single wide w/ 2 bedrooms, 2 baths & 12x28 sf carport. 1980 built, located on north side in Contempo Mobile Home Park. 1 block from strip malls, Albertson's & bus route. Electric f/a ht, central air & sunroom. $415 a month leases land & covers water, sewer, garbage, snow removal & maintains common grounds. Enjoy the recreation center, pool, Jacuzzi & professional kitchen meeting rooms. CASH ONLY sale. Have your realtor download the additional info in Assoc Docs.

19. 2015-08-17
    soldstatus $11,000 381-char remark

    Show marketing remark (381 chars)

    2 bedroom, 2 bath, open floor plan, living room with fireplace, formal dining. Enclosed front porch, shed, sprinkler system. Home was built in 1980 and has 980 sq ft. Monthly lot rent is $390. Lot rent includes garbage, sewer, water, street snow removal, pool and club house! Washer/dryer, fridge & range stay. 55+ Community. Current owner paid $21,000 for the home in 2004..

20. 2015-06-18
    listed $11,000 381-char remark

    Show marketing remark (381 chars)

    2 bedroom, 2 bath, open floor plan, living room with fireplace, formal dining. Enclosed front porch, shed, sprinkler system. Home was built in 1980 and has 980 sq ft. Monthly lot rent is $390. Lot rent includes garbage, sewer, water, street snow removal, pool and club house! Washer/dryer, fridge & range stay. 55+ Community. Current owner paid $21,000 for the home in 2004..

ⓘ 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: $388 · $32/mo
• Projected year-2 tax: $588 · $49/mo
• Expected delta: +$200/yr (+$17/mo · 51.7%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 6 d/yr ≥94°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 19 unhealthy d/yr today · 21 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,871
• − Mortgage interest: −$3,361
• − Property taxes: −$388
• − Insurance: −$300
• − Repairs & maintenance: −$1,430
• − Management: −$1,430
• − Depreciation: −$1,745
• Taxable income: $9,218
• Est. tax owed @ 24.0%: −$2,212
• After-tax cash flow: $7,442/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

• Score: 80/100
• State rank: #93
• US rank: #1822

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Spokane, WA
• County: Spokane County · 496,401 people
• City population: 298,820
• Metro: Spokane-Spokane Valley, WA
• Population (ZIP): 58,669
• Household income: $88,599
• Rent vs Own: 33.2% rent · 66.8% own
• Severe rent burden: 1832.0

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 (83%)
• Race & ethnicity: White 83% Two or more races 7% Hispanic / Latino 5% Black 2% Asian 2% Pacific Islander 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 4% Italian 2% Lithuanian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 93% English-only · Spanish 2% 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: ▼ -392.58%
• Current HPI: 324.2299
• Rent YoY: ▲ 0.46%
• 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

+490.9% since first listed

5 events — show timeline

• 2026-05-08 Listed $64,999 SPOKANEMLS as Distributed by MLS Grid
• 2016-06-08 Sold (MLS) $21,999 SPOKANEMLS as Distributed by MLS Grid
• 2016-05-16 Listed $21,999 SPOKANEMLS as Distributed by MLS Grid
• 2015-08-17 Sold (MLS) $11,000 SPOKANEMLS as Distributed by MLS Grid
• 2015-06-18 Listed $11,000 SPOKANEMLS as Distributed by MLS Grid

Property tax history

+7.5%/yr

Latest (2026): $388 · +83.9% YoY. Source: county tax records.