12823 W 13th Ave #13 · Airway Heights, WA 99001

$36,000

2 bd · 2.0 ba · 1,440 sqft · Manufactured public records · 58 Days on market

Built 1976 $25/sqft · 80% below area

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Why this score? — see what drove the C- 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
• Appreciation +5.3/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.6/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Priced to Sell, spacious home with versatile potential! Motivated Seller! Reviewing all offers! Spacious 2-bedroom, 2-bathroom mobile home on leased land in Airway Heights with 1,440 sq. ft. of living space. Features include a partially finished day room, perfect for an office or bonus room, a fenced yard for pets or play, and a primary en suite with ample space for a soaking tub. The kitchen features a built-in glass cooktop on the island, allowing you to stay connected while cooking! Conveniently located near the highway, restaurants, and shopping. Financing is available

Key facts

• Fenced yard
• Primary en suite
• Built 1976

Tags

• FENCED YARD
• PRIMARY EN SUITE
• BUILT-IN GLASS COOKTOP

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $36k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $36k).
• Recommended offer: $35k (3.0% below list) — sets the bar for market timing.
• Cap rate 44.0% vs local median 3.1% in Airway Heights — 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 73/100 on livability (#204 in WA) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: schools F, crime F, amenities D-.
• Cheney School District (town): math 47% / reading 56% proficiency, ranked #140 of 291 in WA (top 48%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 59 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 3,608 units permitted in Spokane County in 2024 (1,792 in 5+ unit buildings).
• This rent runs 33% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $493 of equity ($249 loan paydown + $244 appreciation (0.7% local appreciation)).
• Spokane County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (0.7% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $25k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $34,920 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
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: 4.77% ✓
• Cap rate: 43.96%
• Cash-on-cash: 134.54%
• DSCR: 6.99
• GRM: 1.7

CMA / ARV

• ARV (median comp): $180,000
• List price: $36,000
• Delta: -80.00%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
831 S Ziegler St	0.44mi	3/2.0 (+1)	1,440 (0%)	2mo	$180,000	$125	73
13716 W 13th Ave	0.58mi	3/2.0 (+1)	1,560 (+8%)	22mo	$370,000	$237	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.68% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.15×
• Total profit: $72,101
• Equity at exit: $11,692

10-year hold

• IRR: —
• Equity multiple: 17.03×
• Total profit: $161,592
• Equity at exit: $15,085

Cash invested: $10,080 (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 99001

• Home prices YoY: 0.2%
• Active inventory: 59
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $1,716 high
• Mortgage (P&I): −$189
• Tax from tax record: −$21 /mo · $257/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $1,130

Break-even live

Break-even rent $285

Max offer price $36,000

Occupancy floor 29%

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: $9,000
• Closing costs: $1,080
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12406 W 11th Ave Airway Heights, WA	3.0	2.0	1350	$2,000	$1.48	43d	1	0.25mi
831 S Avalon St Airway Heights, WA	3.0	3.0	1442	$1,895	$1.31	13d	1	0.41mi
12501 W 6th Ave Airway Heights, WA	1.0–3.0	1.0–2.0	1033	$1,888	$1.83	13d	10	0.42mi
Airway Townhomes Garfield, Chandler, & Avalon Airway Heights, WA	3.0	2.0	1498	$1,745	$1.16	13d	3	0.43mi
802 S Garfield Rd Airway Heights, WA	3.0	1.0–2.0	870	$1,567	$1.80	13d	12	0.47mi
12416 W Meadow Ct Airway Heights, WA	3.0	2.0	1592	$2,100	$1.32	13d	1	0.62mi
13660 W 6th Ave Airway Heights, WA	2.0–3.0	2.0	1152	$995	$0.86	13d	1	0.77mi
11103 W 6th Ave Airway Heights, WA	2.0	1.0–2.0	768	$1,555	$2.02	13d	1	1.15mi
304 S Kalispel Way Airway Heights, WA	1.0–3.0	1.0–2.0	1018	$1,694	$1.66	13d	11	1.18mi
1605 S Hayford Rd Spokane, WA	2.0	2.0	950	$1,700	$1.79	43d	1	1.31mi
1715 S Hayford Rd Unit S-306 Spokane, WA	3.0	2.0	1168	$1,650	$1.41	13d	1	1.42mi
1715 S Hayford Rd Apt 302N Spokane, WA	2.0	2.0	962	$1,300	$1.35	43d	1	1.42mi
1715 S Hayford Rd Unit J-202 Spokane, WA	1.0	1.0	886	$1,395	$1.57	13d	1	1.42mi
1715 S Hayford Rd Apt 306M Spokane, WA	3.0	2.0	1168	$1,650	$1.41	43d	1	1.42mi
1715 S Hayford Rd Apt 202P Spokane, WA	1.0	1.0	886	$1,495	$1.69	43d	1	1.42mi
1715 S Hayford Rd Apt 301N Spokane, WA	2.0	2.0	962	$1,475	$1.53	43d	1	1.42mi
1715 S Hayford Rd Unit N-202 Spokane, WA	2.0	2.0	962	$1,475	$1.53	23d	1	1.42mi
1715 S Hayford Rd Unit R-100 Spokane, WA	2.0	2.0	962	$1,375	$1.43	43d	1	1.42mi
1715 S Hayford Rd Unit R-100 Spokane, WA	2.0	2.0	962	$1,295	$1.35	23d	1	1.42mi

Listing history 17 events

1. 2026-04-01
   listed $36,000 Active 579-char remark

   Show marketing remark (579 chars)

   Priced to Sell, spacious home with versatile potential! Motivated Seller! Reviewing all offers! Spacious 2-bedroom, 2-bathroom mobile home on leased land in Airway Heights with 1,440 sq. ft. of living space. Features include a partially finished day room, perfect for an office or bonus room, a fenced yard for pets or play, and a primary en suite with ample space for a soaking tub. The kitchen features a built-in glass cooktop on the island, allowing you to stay connected while cooking! Conveniently located near the highway, restaurants, and shopping. Financing is available

2. 2026-04-01
   historical

   Show marketing remark (579 chars)

   Priced to Sell, spacious home with versatile potential! Motivated Seller! Reviewing all offers! Spacious 2-bedroom, 2-bathroom mobile home on leased land in Airway Heights with 1,440 sq. ft. of living space. Features include a partially finished day room, perfect for an office or bonus room, a fenced yard for pets or play, and a primary en suite with ample space for a soaking tub. The kitchen features a built-in glass cooktop on the island, allowing you to stay connected while cooking! Conveniently located near the highway, restaurants, and shopping. Financing is available

3. 2026-03-18
   price $36,000
4. 2026-02-05
   listed $44,000 Active
5. 2026-01-30
   historical
6. 2025-12-29
   price $37,000
7. 2025-12-29
   status Active
8. 2025-11-25
   price $45,000
9. 2025-11-19
   price $49,000
10. 2025-09-30
    listed $51,000 Active
11. 2024-01-31
    soldstatus $25,000 Closed
12. 2023-12-26
    status Active
13. 2023-12-07
    listed $30,000
14. 2023-12-07
    historical
15. 2023-11-27
    status Pending
16. 2023-11-26
    historical
17. 2023-11-20
    listed $30,000 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: $257 · $21/mo
• Projected year-2 tax: $353 · $29/mo
• Expected delta: +$96/yr (+$8/mo · 37.2%)

ⓘ 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 6 d/yr ≥92°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 13 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,587
• − Mortgage interest: −$2,017
• − Property taxes: −$257
• − Insurance: −$180
• − Repairs & maintenance: −$1,647
• − Management: −$1,647
• − Depreciation: −$1,047
• Taxable income: $13,793
• Est. tax owed @ 24.0%: −$3,310
• After-tax cash flow: $10,251/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: Cheney School District
• NCES district ID: 5301230
• Math proficiency: 47% ▲ 1.00%
• Reading proficiency: 56% ▲ 1.00%
• Median HH income: $46,800
• Composite: 45.66/100
• National rank: #5637
• State rank: #140 of 291 in WA

Livability — Airway Heights

• Score: 73/100
• State rank: #204
• US rank: #5600

Category grades

Amenities D- Commute A+ Cost of living A- 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: Airway Heights, WA
• County: Spokane County · 496,401 people
• City population: 9,440
• Metro: Spokane-Spokane Valley, WA
• Population (ZIP): 9,440
• Household income: $62,518
• Rent vs Own: 67.9% rent · 32.1% own
• Severe rent burden: 345.0

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: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 57% Two or more races 12% Hispanic / Latino 10% Black 7% Asian 6% Pacific Islander 5% Native American 4%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2%
• Common ancestry: Italian 5% Czech 2% Slovak 2%
• Foreign-born: 9% · Canada, South Korea, China
• Languages at home: 83% English-only · Spanish 4% Tagalog/Filipino 3% Arabic 3%

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: ▲ 0.68%
• Current HPI: 333.0166
• Rent YoY: —
• 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

+20.0% since first listed

17 events — show timeline

• 2026-04-01 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2026-04-01 Listed $36,000 SPOKANEMLS as Distributed by MLS Grid
• 2026-03-18 Price Changed $36,000 SPOKANEMLS as Distributed by MLS Grid
• 2026-02-05 Listed $44,000 SPOKANEMLS as Distributed by MLS Grid
• 2026-01-30 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2025-12-29 Price Changed $37,000 SPOKANEMLS as Distributed by MLS Grid
• 2025-12-29 Relisted — SPOKANEMLS as Distributed by MLS Grid
• 2025-11-25 Price Changed $45,000 SPOKANEMLS as Distributed by MLS Grid
• 2025-11-19 Price Changed $49,000 SPOKANEMLS as Distributed by MLS Grid
• 2025-09-30 Listed $51,000 SPOKANEMLS as Distributed by MLS Grid
• 2024-01-31 Sold (MLS) $25,000 SPOKANEMLS as Distributed by MLS Grid
• 2023-12-26 Relisted — SPOKANEMLS as Distributed by MLS Grid
• 2023-12-07 Listed $30,000 SPOKANEMLS as Distributed by MLS Grid
• 2023-12-07 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2023-11-27 Pending — SPOKANEMLS as Distributed by MLS Grid
• 2023-11-26 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2023-11-20 Listed $30,000 SPOKANEMLS as Distributed by MLS Grid

Property tax history

+9.5%/yr

Latest (2026): $257 · +4.0% YoY. Source: county tax records.