11920 E Mansfield Ave #94 · Spokane Valley, WA 99206

$173,160

3 bd · 2.0 ba · 1,188 sqft · Manufactured public records · 247 Days on market

Built 2024 Excellent condition $146/sqft · 28% above area Est $134k · 29% over ↓ 8% 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 +17.3/30.0
• DSCR +5.4/10.0
• Condition / age +4.8/5.0
• Schools +4.3/10.0
• Livability +4.2/5.0
• 1% rule +3.8/10.0
• Rent growth +3.1/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Pinecroft MHP! This brand new 3 BR, 2 BA manufactured home spans 1176 sq ft. Designed for modern living, it features an open kitchen with an eating bar and a separate dining area. Step outside to enjoy the deck made with durable Trex decking, perfect for leisure and entertainment. Conveniently located close to shopping, dining, and other essential amenities, making daily life a breeze. Experience comfort and style in this thoughtfully planned home.

Key facts

• Deck
• Trex decking
• Eating bar

Tags

• OPEN KITCHEN
• EATING BAR
• SEPARATE DINING AREA
• DECK
• TREX DECKING
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $173k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $127 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $152k (12.0% below list).
• Recommended offer: $152k (12.0% below list) — sets the bar for 1% rule.
• Cap rate 7.2% 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+.
• East Valley School District (Spokane) (urban): math 40% / reading 56% proficiency, ranked #160 of 291 in WA (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Trent School (496 students, 92% FRL); East Valley Middle School (435 students, 71% FRL); East Valley High School (957 students, 58% FRL) — zoned schools average 74% FRL vs 45% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.4%/yr); 305 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 247 days — a 12% lower offer ($152k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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.

Risks & watch-outs

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

Recommended offer $152,323 (12.0% below list)

Questions for the listing agent

1. It's been on market 247 days. Have you received any prior offers? Is the seller open to a 12% 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. 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?
7. 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.
8. 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.
9. 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: 0.88% ✗
• Cap rate: 7.17%
• Cash-on-cash: 3.14%
• DSCR: 1.14
• GRM: 9.5

CMA / ARV

• ARV (median comp): $134,167
• List price: $173,160
• Delta: 29.06%
• Verdict: OVERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11920 E Mansfield Ave #112	0.04mi	3/2.0	1,280 (+8%)	23mo	$166,400	$130	66
11920 E Mansfield Ave #79	0.04mi	3/2.0	1,072 (-10%)	19mo	$130,000	$121	66
11616 E Jackson Ave	0.37mi	2/2.0 (-1)	1,292 (+9%)	2mo	$120,000	$93	61
11607 E Carlisle Ave	0.38mi	2/1.0 (-1)	1,076 (-9%)	22mo	$180,000	$167	40

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 · 2.44% rent growth · sell at horizon

5-year hold

• IRR: -12.0%
• Equity multiple: 0.57×
• Total profit: $-20,888
• Equity at exit: $25,819

10-year hold

• IRR: -3.6%
• Equity multiple: 0.76×
• Total profit: $-11,459
• Equity at exit: $14,972

Cash invested: $48,485 (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 99206

• Rents YoY: 2.4%
• Active inventory: 305
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,523 high
• Mortgage (P&I): −$908
• Tax from tax record: −$96 /mo · $1,156/yr
• Insurance: −$72
• HOA: −$0
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $127

Break-even live

Break-even rent $1,363

Max offer price $173,160

Occupancy floor 87%

Sensitivity live

Price	-10% $225	-5% $176	+0% $127	+5% $78	+10% $29
Rent	-10% $6	-5% $67	+0% $127	+5% $187	+10% $247
Rate	-1.0pp $214	-0.5pp $171	base $127	+0.5pp $82	+1.0pp $36

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: $43,290
• Closing costs: $5,195
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11921 E Mansfield Ave Spokane Valley, WA	2.0	1.0–2.0	890	$1,375	$1.54	15d	5	0.10mi
2405 Cherry St Apt 6 Spokane Valley, WA	2.0	1.0	750	$1,375	$1.83	23d	1	0.21mi
2405 N Cherry St Spokane Valley, WA	1.0–2.0	1.0–2.0	836	$1,450	$1.73	15d	4	0.21mi
2605 N Robie Rd Spokane Valley, WA	2.0–3.0	2.0	1136	$1,205	$1.06	45d	1	0.22mi
12422 E Mansfield Ave Spokane Valley, WA	2.0	1.0	786	$1,330	$1.69	15d	5	0.23mi
12423 E Mansfield Ave Spokane Valley, WA	1.0–2.0	1.0–2.0	823	$1,535	$1.87	15d	9	0.24mi
2107 N Houk Rd #7 Spokane Valley, WA	2.0	1.5	932	$1,400	$1.50	45d	1	0.26mi
2115 N Houk Rd Unit C-03 Spokane Valley, WA	2.0	1.0	800	$1,275	$1.59	45d	1	0.27mi
2115 N Houk Rd Spokane Valley, WA	2.0	1.0	760	$1,272	$1.67	15d	2	0.27mi
2111 N Houk Rd Spokane Valley, WA	2.0	1.5	932	$1,345	$1.44	45d	1	0.28mi
2612 N Pines Rd Unit 37 Spokane Valley, WA	2.0	2.0	966	$1,325	$1.37	15d	1	0.31mi
2612 N Pines Rd Unit 12 Spokane Valley, WA	2.0	1.0	914	$1,225	$1.34	45d	1	0.32mi
2212 N Houk Rd Unit 2210 Spokane Valley, WA	2.0	1.0	950	$1,195	$1.26	45d	1	0.32mi
2212 N Houk Rd Unit 4 Spokane Valley, WA	2.0	1.0	950	$1,395	$1.47	25d	1	0.32mi
2212 N Houk Rd Spokane Valley, WA	2.0	1.0	950	$1,295	$1.36	15d	1	0.32mi
2705 N Robie Ct Spokane Valley, WA	3.0	1.5	1420	$1,900	$1.34	15d	1	0.33mi
12820 E Mansfield Ave Apt 148 Spokane Valley, WA	2.0	1.0	918	$1,350	$1.47	15d	1	0.33mi
12820 E Mansfield Ave Unit 115 Spokane Valley, WA	2.0	1.0	857	$1,275	$1.49	45d	1	0.33mi
12820 E Mansfield Ave Apt 96 Spokane Valley, WA	2.0	2.0	956	$1,425	$1.49	15d	1	0.33mi
1723 N Union Rd Spokane Valley, WA	1.0–2.0	1.0–2.0	818	$1,505	$1.84	15d	5	0.34mi
2301 N Wilbur Rd Spokane Valley, WA	1.0–2.0	1.0–2.0	837	$1,450	$1.73	45d	4	0.34mi
2705 N Pines Rd Unit 03 Spokane Valley, WA	2.0	1.0	840	$1,245	$1.48	45d	1	0.34mi
2705 N Pines Rd Spokane Valley, WA	2.0	1.0	840	$1,165	$1.39	45d	1	0.34mi
2721 N Cherry St Spokane Valley, WA	2.0–3.0	2.0	1152	$1,594	$1.38	15d	1	0.35mi
2718 N Bowdish Rd Spokane Valley, WA	2.0	1.0	844	$1,200	$1.42	15d	4	0.45mi
12820 E Mansfield Ave Unit 101 Spokane Valley, WA	2.0	1.0	857	$1,350	$1.58	45d	1	0.46mi
2820 N Cherry St Spokane Valley, WA	2.0–3.0	1.0–2.0	963	$1,634	$1.70	15d	4	0.47mi
12202 E Maxwell Ave Spokane Valley, WA	2.0	2.0	1010	$1,444	$1.43	15d	3	0.49mi
12925 E Mansfield Ave Spokane Valley, WA	1.0–3.0	1.0–2.0	897	$1,717	$1.91	15d	33	0.55mi
11813 E Broadway Ave Spokane Valley, WA	3.0	1.0–2.0	918	$1,826	$1.99	15d	26	0.81mi
1019 N Bowdish Rd Spokane Valley, WA	2.0	2.0	1330	$1,795	$1.35	45d	1	0.81mi
13303 E Mission Ave Spokane Valley, WA	1.0–3.0	1.0–2.0	974	$1,924	$1.98	15d	14	0.81mi
1019 N Woodward Rd Spokane Valley, WA	3.0	1.0	1500	$1,795	$1.20	25d	1	0.85mi
12623 E Broadway Ave Spokane Valley, WA	1.0–3.0	1.0–2.0	952	$1,750	$1.84	15d	9	0.86mi
13310 E Mission Ave Unit 44 Spokane Valley, WA	2.0	1.0	902	$1,110	$1.23	45d	1	0.87mi
13310 E Mission Ave Apt 156 Spokane Valley, WA	2.0	1.0	902	$1,150	$1.27	45d	1	0.87mi
13310 E Mission Ave Apt 30 Spokane Valley, WA	2.0	1.0	902	$1,165	$1.29	45d	1	0.87mi
12402 E Broadway Ave #2 Spokane Valley, WA	3.0	3.0	1480	$2,170	$1.47	23d	1	0.91mi
13320 E Mission Ave Apt 335 Spokane Valley, WA	2.0	1.0	902	$1,165	$1.29	45d	1	0.96mi
12112 E Alki Ave Spokane Valley, WA	2.0	2.0	1044	$1,352	$1.30	15d	3	1.02mi

Listing history 24 events

1. 2026-06-22
   days on market $173,160 Active 247 DOM
2. 2026-06-18
   days on market $173,160 Active 244 DOM
3. 2026-06-17
   days on market $173,160 Active 243 DOM
4. 2026-06-16
   days on market $173,160 Active 242 DOM
5. 2026-06-15
   days on market $173,160 Active 241 DOM
6. 2026-06-14
   days on market $173,160 Active 239 DOM
7. 2026-06-10
   days on market $173,160 Active 236 DOM
8. 2026-06-09
   days on market $173,160 Active 235 DOM
9. 2026-06-08
   days on market $173,160 Active 234 DOM
10. 2026-06-07
    days on market $173,160 Active 233 DOM
11. 2026-06-05
    days on market $173,160 Active 230 DOM
12. 2026-06-03
    days on market $173,160 Active 229 DOM
13. 2026-06-02
    days on market $173,160 Active 228 DOM
14. 2026-06-01
    days on market $173,160 Active 227 DOM
15. 2026-05-31
    days on market $173,160 Active 226 DOM
16. 2026-05-31
    days on market $173,160 Active 225 DOM
17. 2025-10-17
    historical

    Show marketing remark (463 chars)

    Welcome to Pinecroft MHP! This brand new 3 BR, 2 BA manufactured home spans 1176 sq ft. Designed for modern living, it features an open kitchen with an eating bar and a separate dining area. Step outside to enjoy the deck made with durable Trex decking, perfect for leisure and entertainment. Conveniently located close to shopping, dining, and other essential amenities, making daily life a breeze. Experience comfort and style in this thoughtfully planned home.

18. 2025-10-17
    listed $173,160 Active 463-char remark

    Show marketing remark (463 chars)

    Welcome to Pinecroft MHP! This brand new 3 BR, 2 BA manufactured home spans 1176 sq ft. Designed for modern living, it features an open kitchen with an eating bar and a separate dining area. Step outside to enjoy the deck made with durable Trex decking, perfect for leisure and entertainment. Conveniently located close to shopping, dining, and other essential amenities, making daily life a breeze. Experience comfort and style in this thoughtfully planned home.

19. 2025-08-21
    listed $173,160 Active
20. 2025-08-21
    historical
21. 2025-04-16
    price $173,160
22. 2025-03-18
    status Active
23. 2025-03-12
    status Pending
24. 2024-10-24
    listed $188,160 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: $1,156 · $96/mo
• Projected year-2 tax: $1,697 · $141/mo
• Expected delta: +$541/yr (+$45/mo · 46.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 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 14 unhealthy d/yr today · 15 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,279
• − Mortgage interest: −$9,700
• − Property taxes: −$1,156
• − Insurance: −$866
• − Repairs & maintenance: −$1,462
• − Management: −$1,462
• − Depreciation: −$5,037
• Taxable loss: −$1,405
• Est. tax savings @ 24.0%: +$337
• After-tax cash flow: $1,859/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.

Condition & rehab AI · 13 photos

Excellent 95/100 None rehab

This brand new 3 BR, 2 BA manufactured home is in excellent condition with no visible damage. It's ready for immediate move-in and would benefit from some cosmetic updates to enhance its curb appeal and value.

Value-add opportunities

• Both Paint exterior and interior — Enhances curb appeal and interior aesthetics
• Both Install landscaping — Improves curb appeal and adds value
• Both Install new lighting — Enhances curb appeal and interior aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior and interior — Enhances curb appeal and interior aesthetics ↑
• Both Install landscaping — Improves curb appeal and adds value ↑
• Both Install new lighting — Enhances curb appeal and interior aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: East Valley School District (Spokane)
• NCES district ID: 5302280
• Math proficiency: 40% ▼ -5.00%
• Reading proficiency: 56% ▼ -4.00%
• Median HH income: $49,557
• Composite: 43.15/100
• National rank: #6603
• State rank: #160 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): 41,089
• Household income: $81,764
• Rent vs Own: 38.5% rent · 61.5% own
• Severe rent burden: 1523.0

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 (82%)
• Race & ethnicity: White 82% Two or more races 8% Hispanic / Latino 7% Black 2% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 5% Slovak 3% Lithuanian 3%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 3% 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: ▼ -377.59%
• Current HPI: 339.9959
• Rent YoY: ▲ 2.44%
• 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

-8.0% since first listed

8 events — show timeline

• 2025-10-17 Listed $173,160 SPOKANEMLS as Distributed by MLS Grid
• 2025-10-17 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2025-08-21 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2025-08-21 Listed $173,160 SPOKANEMLS as Distributed by MLS Grid
• 2025-04-16 Price Changed $173,160 SPOKANEMLS as Distributed by MLS Grid
• 2025-03-18 Relisted — SPOKANEMLS as Distributed by MLS Grid
• 2025-03-12 Pending — SPOKANEMLS as Distributed by MLS Grid
• 2024-10-24 Listed $188,160 SPOKANEMLS as Distributed by MLS Grid

Property tax history

-8.1%/yr

Latest (2026): $1,156 · -8.1% YoY. Source: county tax records.