6300 E 2nd Ave #104 · Spokane Valley, WA 99212

$85,000

1 bd · 1.0 ba · 516 sqft · Manufactured · 113 Days on market

Built 2022 ↓ 15% 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
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• Livability +4.2/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 1 bed, 1 bath home in the quiet 55+ Valley breeze community! This home offers a warm, modern feel the moment you step onto the covered front porch. Inside, you’ll find a spacious layout with stylish finishes throughout, including crown molding and tasteful trim work. The living area is bright and cozy, featuring a shiplap accent wall, mounted TV space, and an efficient stove for added comfort. The kitchen is truly impressive for its size—complete with white cabinetry, sleek hardware, tile backsplash, upgraded fixtures, a deep stainless-steel farmhouse sink, gas range, and plenty of storage. The bedroom is well-appointed with great natural light and built-in cabinetry, a

Key facts

• Covered front porch
• Ample counter space
• Shiplap accent wall

Tags

• COVERED FRONT PORCH
• SHIPLAP ACCENT WALL
• GAS RANGE
• WALK IN SHOWER
• AMPLE COUNTER SPACE
• STACKED WASHER AND DRYER

Property features AI

Finance

• Financial info: Land lease: $585/month

Exterior

• Parking: Slab parking
• Home design: Manufactured home (2022 Athens); Skirted foundation
• Construction: Masonite siding; Metal roof
• Exterior features: Deck; Treed and level lot; City street frontage

Interior

• Bedrooms: 1 bedroom
• Heating & cooling: Natural gas heating; Electric heating
• Interior features: No basement; Doorways at least 32 inches wide (accessible)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $85k.

Deal economics

• At list price, monthly cash flow is $321 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $77k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.8% 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.
• 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 $588 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 + 3.5% rent growth), your $24k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $9k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $77,350 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% 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. 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?
6. 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.
7. 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.
8. 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: 1.35% ✓
• Cap rate: 10.83%
• Cash-on-cash: 16.19%
• DSCR: 1.72
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.49% rent growth · sell at horizon

5-year hold

• IRR: 7.8%
• Equity multiple: 1.31×
• Total profit: $7,265
• Equity at exit: $12,674

10-year hold

• IRR: 17.5%
• Equity multiple: 2.47×
• Total profit: $35,093
• Equity at exit: $7,349

Cash invested: $23,800 (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 99212

• Rents YoY: 3.5%
• Active inventory: 187
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,150 high
• Mortgage (P&I): −$446
• Tax est. 1.5%: −$106 /mo · $1,275/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $321

Break-even live

Break-even rent $744

Max offer price $85,000

Occupancy floor 67%

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: $21,250
• Closing costs: $2,550
• 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	$950	$1.33	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	$1,395	$1.90	14d	5	0.25mi
7313 E 6th Ave Unit 5 Spokane Valley, WA	—	1.0	550	$1,000	$1.82	23d	1	0.69mi
7419 E 4th Ave Unit 5 Spokane Valley, WA	—	1.0	400	$925	$2.31	23d	1	0.74mi
7419 E 4th Ave Apt 2 Spokane Valley, WA	—	1.0	400	$925	$2.31	14d	1	0.74mi
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 Unit 16 Spokane Valley, WA	2.0	1.0	750	$1,200	$1.60	43d	1	1.22mi

Listing history 20 events

1. 2026-06-18
   days on market $85,000 Active 113 DOM
2. 2026-06-17
   days on market $85,000 Active 112 DOM
3. 2026-06-16
   days on market $85,000 Active 111 DOM
4. 2026-06-15
   days on market $85,000 Active 110 DOM
5. 2026-06-14
   days on market $85,000 Active 108 DOM
6. 2026-06-10
   days on market $85,000 Active 105 DOM
7. 2026-06-09
   days on market $85,000 Active 104 DOM
8. 2026-06-08
   days on market $85,000 Active 103 DOM
9. 2026-06-07
   days on market $85,000 Active 102 DOM
10. 2026-06-03
    days on market $85,000 Active 98 DOM
11. 2026-06-02
    days on market $85,000 Active 97 DOM
12. 2026-06-01
    days on market $85,000 Active 96 DOM
13. 2026-05-31
    days on market $85,000 Active 95 DOM
14. 2026-05-31
    days on market $85,000 Active 94 DOM
15. 2026-03-02
    price $85,000
16. 2026-02-25
    listed $94,000 Active
17. 2026-02-23
    historical
18. 2026-01-27
    price $94,000
19. 2025-12-18
    listed $99,999 Active
20. 2025-12-05
    listed $99,999 Active

ⓘ 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 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: $13,800
• − Mortgage interest: −$4,761
• − Property taxes: −$1,275
• − Insurance: −$425
• − Repairs & maintenance: −$1,104
• − Management: −$1,104
• − Depreciation: −$2,473
• Taxable income: $2,658
• Est. tax owed @ 24.0%: −$638
• After-tax cash flow: $3,215/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

-15.0% since first listed

6 events — show timeline

• 2026-03-02 Price Changed $85,000 SPOKANEMLS as Distributed by MLS Grid
• 2026-02-25 Listed $94,000 SPOKANEMLS as Distributed by MLS Grid
• 2026-02-23 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2026-01-27 Price Changed $94,000 SPOKANEMLS as Distributed by MLS Grid
• 2025-12-18 Listed $99,999 SPOKANEMLS as Distributed by MLS Grid
• 2025-12-05 Listed $99,999 SPOKANEMLS as Distributed by MLS Grid