6417 N Cincinnati St #30 · Spokane, WA 99208

$15,000

2 bd · 1.0 ba · 520 sqft · Manufactured public records · 84 Days on market

Built 1962 ↓ 25% since listing

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

2 bed 1 bath fixer in quiet mobile home park. Great opportunity to build equity quickly. The park is near shopping, medical, restaurants and bus routes. Com see for yourself

Key facts

• Near bus routes
• Near shopping
• Near restaurants

Tags

• NEAR SHOPPING
• NEAR MEDICAL
• NEAR RESTAURANTS
• NEAR BUS ROUTES

Property features AI

Finance

• Financial info: Annual tax amount: $213
• HOA & community: Located in a senior community (Ponderosa); Land lease: $445

Exterior

• Parking: Off-site parking
• Utilities: High-speed internet available (any provider)
• Home design: Manufactured home; Single-level (manufactured house); Skirted with tie downs; Entry on private road
• Construction: Steel frame construction; Flat metal roof; Slab and block foundation
• Exterior features: Level site; City bus service within six blocks; Private, paved road frontage

Interior

• Kitchen: Free-standing range; Refrigerator
• Bedrooms: 2 bedrooms
• Heating & cooling: Natural gas forced air heating; Window unit(s) for cooling
• Interior features: Free-standing range; Refrigerator; No basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $15k.

Deal economics

• At list price, monthly cash flow is $886 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $15k).
• Recommended offer: $14k (6.0% below list) — sets the bar for market timing.
• Cap rate 77.2% 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); Garry Middle School (569 students, 88% FRL); Rogers High School (1,536 students, 83% FRL) — zoned schools average 85% FRL vs 50% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 466 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).
• This rent is only 17% of the median local income ($89k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $104 of loan paydown is wiped out by about $450 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 $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($14k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $2k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $14,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 8.34% ✓
• Cap rate: 77.19%
• Cash-on-cash: 253.20%
• DSCR: 12.27
• GRM: 1.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.46% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 13.12×
• Total profit: $50,910
• Equity at exit: $2,237

10-year hold

• IRR: —
• Equity multiple: 25.98×
• Total profit: $104,917
• Equity at exit: $1,297

Cash invested: $4,200 (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 99208

• Rents YoY: 0.5%
• Active inventory: 466
• Price-to-rent: 1.0×

Monthly cashflow live

• Estimated rent: $1,252 high
• Mortgage (P&I): −$79
• Tax from tax record: −$18 /mo · $213/yr
• Insurance: −$6
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $886

Break-even live

Break-even rent $130

Max offer price $15,000

Occupancy floor 24%

Sensitivity live

Price	-10% $895	-5% $890	+0% $886	+5% $882	+10% $878
Rent	-10% $787	-5% $837	+0% $886	+5% $936	+10% $985
Rate	-1.0pp $894	-0.5pp $890	base $886	+0.5pp $882	+1.0pp $878

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: $3,750
• Closing costs: $450
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
617 E Houston Ave Unit HH340 Spokane, WA	2.0	1.0	710	$1,100	$1.55	15d	1	0.01mi
617 E Houston Ave Unit HH301 Spokane, WA	1.0	1.0	510	$950	$1.86	25d	1	0.01mi
6603 N Standard St Unit 6605 Spokane, WA	2.0	1.0	750	$1,200	$1.60	25d	1	0.12mi
910 E Holyoke Ave Spokane, WA	1.0–2.0	1.0	755	$1,425	$1.89	15d	4	0.12mi
901 E Holyoke Ave Spokane, WA	1.0	1.0	588	$1,075	$1.83	25d	3	0.15mi
6980 N Nevada St Spokane, WA	1.0–2.0	1.0	622	$1,383	$2.22	25d	1	0.39mi
121 E Wedgewood Ave Spokane, WA	1.0–3.0	1.0–1.5	833	$1,205	$1.45	15d	17	0.43mi
6123 N Colton St Unit 2 Spokane, WA	1.0	1.0	450	$900	$2.00	22d	1	0.45mi
6123 N Colton St Apt 1 Spokane, WA	1.0	1.0	450	$999	$2.22	25d	1	0.45mi
6123 N Colton St Spokane, WA	1.0	1.0	450	$999	$2.22	15d	2	0.45mi
1015 E Cozza Dr Unit 65 Spokane, WA	1.0	1.0	660	$1,065	$1.61	15d	1	0.53mi
1015 E Cozza Dr Unit 41 Spokane, WA	1.0	1.0	660	$1,065	$1.61	25d	1	0.53mi
6029 N Mayfair St Unit 7 Spokane, WA	1.0	1.0	725	$1,025	$1.41	15d	1	0.53mi
6018 N Ruby St #8 Spokane, WA	2.0	1.0	600	$995	$1.66	15d	1	0.57mi
1015 E Cozza Dr Unit 165 Spokane, WA	1.0	1.0	660	$1,010	$1.53	15d	1	0.57mi
1015 E Cozza Dr Unit 160 Spokane, WA	1.0	1.0	660	$1,010	$1.53	25d	1	0.58mi
1015 E Cozza Dr Unit 167 Spokane, WA	1.0	1.0	660	$1,050	$1.59	25d	1	0.58mi
6601 N Atlantic St Unit 6625 Spokane, WA	2.0	1.0	697	$1,000	$1.43	15d	1	0.65mi
1011 E Sharpsburg Ave Unit 574 Spokane, WA	1.0	1.0	660	$1,065	$1.61	25d	1	0.68mi
7001 N Atlantic St Spokane, WA	1.0	1.0	600	$995	$1.66	25d	1	0.71mi
7808 N Morton St Unit 631 Spokane, WA	1.0	1.0	660	$1,050	$1.59	25d	1	0.91mi
1712 E Sanson Ave Unit 1 Spokane, WA	1.0	1.0	520	$995	$1.91	25d	1	1.02mi
8424 N Nevada St Unit 54 Spokane, WA	1.0	1.0	660	$1,050	$1.59	25d	1	1.24mi
8424 N Nevada St Unit 412 Spokane, WA	1.0	1.0	660	$1,010	$1.53	45d	1	1.24mi
8424 N Nevada St Apt 314 Spokane, WA	1.0	1.0	660	$1,065	$1.61	45d	1	1.24mi
8424 N Nevada St Unit 308 Spokane, WA	1.0	1.0	660	$1,065	$1.61	25d	1	1.24mi
636 E Magnesium Rd Spokane, WA	1.0–3.0	1.0–3.0	1053	$1,780	$1.69	15d	12	1.30mi
401 E Magnesium Rd Spokane, WA	1.0–2.0	1.0	730	$1,290	$1.77	45d	4	1.41mi
20 E Pineridge Ct Spokane, WA	1.0	1.0	625	$1,375	$2.20	25d	2	1.41mi
6105 N Regal St Unit B Spokane, WA	2.0	1.5	600	$1,295	$2.16	15d	1	1.44mi
8719 N Hill N Dale St Spokane, WA	1.0–3.0	1.0–1.5	850	$1,356	$1.59	15d	8	1.45mi
849 E Magnesium Rd Spokane, WA	1.0–3.0	1.0–2.0	931	$1,512	$1.62	15d	6	1.49mi

Listing history 5 events

1. 2026-05-21
   status Pending
2. 2026-05-01
   price $15,000
3. 2026-02-27
   listed $17,500 Active
4. 2025-12-31
   historical
5. 2025-09-25
   listed $20,000 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: $213 · $18/mo
• Projected year-2 tax: $213 · $18/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 14 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: $15,021
• − Mortgage interest: −$840
• − Property taxes: −$213
• − Insurance: −$75
• − Repairs & maintenance: −$1,202
• − Management: −$1,202
• − Depreciation: −$436
• Taxable income: $11,053
• Est. tax owed @ 24.0%: −$2,653
• After-tax cash flow: $7,982/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

-25.0% since first listed

5 events — show timeline

• 2026-05-21 Pending — SPOKANEMLS as Distributed by MLS Grid
• 2026-05-01 Price Changed $15,000 SPOKANEMLS as Distributed by MLS Grid
• 2026-02-27 Listed $17,500 SPOKANEMLS as Distributed by MLS Grid
• 2025-12-31 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2025-09-25 Listed $20,000 SPOKANEMLS as Distributed by MLS Grid

Property tax history

+20.7%/yr

Latest (2026): $213 · +27.4% YoY. Source: county tax records.