3420 N Mckee St · Spokane Valley, WA 99216

$150,000

3 bd · 2.0 ba · 1,440 sqft · Manufactured public records · 5 Days on market

Built 1978 10,454 sqft lot

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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 +9.4/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.2/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This well-kept 1536sqft 3 bedroom, 2 bathroom Manufactured home sits on its own beautiful corner lot with a fenced backyard. NO lot rent or HOA. The home is freshly painted inside with beautiful new flooring throughout. Enjoy the roominess the vaulted ceilings and natural wood beams afford the two main living spaces, each with its own fireplace, to keep you cozy on cool evenings. The primary bedroom, separated from the secondary bedrooms, boasts a spacious closet and full bath. Two additional bedrooms and a second full bath provide ample room for your family's comfort. The covered back deck affords hours of relaxation as you enjoy the backyard oasis with beautiful gardens and foliage. It's perfect for morning coffee, or for hosting those summer BBQs and entertaining. For more convenience, the lawn has an automatic sprinkler system. Two outbuildings provide plenty of storage, and there is room to add a garage/shop should you so desire. Newer furnace and hot water heater. Easy access to I-90/Trent.

Key facts

• 0.24 acre lot
• Built 1978
• Listed 5 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $150k.

Deal economics

• At list price, monthly cash flow is $619 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 11.2% 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.
• Market conditions: Rents rising (+2.9%/yr); 129 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 3,608 units permitted in Spokane County in 2024 (1,792 in 5+ unit buildings).
• This rent runs 35% of the median local income ($74k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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 + 2.9% rent growth), your $42k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 4y 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: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $150,000

Questions for the listing agent

1. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
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: 1.44% ✓
• Cap rate: 11.25%
• Cash-on-cash: 17.69%
• DSCR: 1.79
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $325,440
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18411 E Courtland Ave	0.12mi	3/2.0	1,440 (0%)	1mo	$244,500	$170	94
18915 E Marietta Ave	0.52mi	3/2.0	1,440 (0%)	0mo	$175,000	$122	75
2601 N Barker Rd #118	0.41mi	3/2.0	1,404 (-2%)	6mo	$145,000	$103	72
18821 E Montgomery Dr	0.64mi	3/2.0	1,458 (+1%)	1mo	$360,000	$247	67
18720 E Fairview Ct	0.33mi	2/2.0 (-1)	1,548 (+8%)	1mo	$355,000	$229	66
3318 N Mckee St	0.05mi	2/2.0 (-1)	1,248 (-13%)	8mo	$140,000	$112	64
2423 N Drummond Rd	0.61mi	3/2.0	1,440 (0%)	9mo	$325,000	$226	64
19215 E Marietta Ave	0.61mi	3/2.0	1,536 (+7%)	2mo	$240,000	$156	59
19214 E Buckeye Ave	0.59mi	3/2.0	1,352 (-6%)	10mo	$370,000	$274	54
18917 E Jackson Dr	0.64mi	3/2.0	1,272 (-12%)	2mo	$310,000	$244	49
18920 E Marlin Dr	0.59mi	3/2.0	1,584 (+10%)	11mo	$221,000	$140	46
18924 E Montgomery Dr	0.68mi	3/2.0	1,280 (-11%)	5mo	$395,000	$309	46

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 · 2.88% rent growth · sell at horizon

5-year hold

• IRR: 9.0%
• Equity multiple: 1.36×
• Total profit: $14,930
• Equity at exit: $22,365

10-year hold

• IRR: 18.2%
• Equity multiple: 2.50×
• Total profit: $62,969
• Equity at exit: $12,969

Cash invested: $42,000 (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 99216

• Rents YoY: 2.9%
• Active inventory: 129
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $2,159 high
• Mortgage (P&I): −$787
• Tax from tax record: −$237 /mo · $2,848/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$453
• Net cashflow: $619

Break-even live

Break-even rent $1,375

Max offer price $150,000

Occupancy floor 66%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18714 E Augusta Ct Greenacres, WA	3.0	2.5	1412	$1,995	$1.41	43d	1	1.09mi
1806 N Salmon River Ln Spokane Valley, WA	3.0	2.0	1800	$2,395	$1.33	23d	1	1.10mi
1920 N Cavalier Rd Liberty Lake, WA	3.0	2.0	1387	$2,395	$1.73	43d	1	1.14mi
1420 N Michigan Ln Unit 1 Spokane Valley, WA	3.0	2.5	1476	$2,100	$1.42	43d	1	1.29mi
1806 N Coach Ln Unit 1806 Spokane Valley, WA	3.0	2.5	1501	$2,550	$1.70	23d	1	1.29mi
17012 E Knox Ln Spokane Valley, WA	3.0	2.0	1430	$2,395	$1.67	13d	1	1.29mi
1840 N Willamette Rd Liberty Lake, WA	3.0	2.5	1569	$2,150	$1.37	13d	1	1.38mi
1317 N Arc St Spokane Valley, WA	3.0	2.0–2.5	1500	$2,248	$1.50	13d	14	1.48mi

Listing history 14 events

1. 2026-03-03
   status Pending
2. 2026-03-03
   price $150,000
3. 2026-02-27
   status Active
4. 2026-02-27
   price $259,900
5. 2026-02-17
   status Pending
6. 2026-02-09
   listed $155,000 Active
7. 2023-10-27
   historical 1011-char remark

   Show marketing remark (1011 chars)

   This well-kept 1536sqft 3 bedroom, 2 bathroom Manufactured home sits on its own beautiful corner lot with a fenced backyard. NO lot rent or HOA. The home is freshly painted inside with beautiful new flooring throughout. Enjoy the roominess the vaulted ceilings and natural wood beams afford the two main living spaces, each with its own fireplace, to keep you cozy on cool evenings. The primary bedroom, separated from the secondary bedrooms, boasts a spacious closet and full bath. Two additional bedrooms and a second full bath provide ample room for your family's comfort. The covered back deck affords hours of relaxation as you enjoy the backyard oasis with beautiful gardens and foliage. It's perfect for morning coffee, or for hosting those summer BBQs and entertaining. For more convenience, the lawn has an automatic sprinkler system. Two outbuildings provide plenty of storage, and there is room to add a garage/shop should you so desire. Newer furnace and hot water heater. Easy access to I-90/Trent.

8. 2023-10-24
   soldstatus $260,000 Closed 1011-char remark

   Show marketing remark (1011 chars)

   This well-kept 1536sqft 3 bedroom, 2 bathroom Manufactured home sits on its own beautiful corner lot with a fenced backyard. NO lot rent or HOA. The home is freshly painted inside with beautiful new flooring throughout. Enjoy the roominess the vaulted ceilings and natural wood beams afford the two main living spaces, each with its own fireplace, to keep you cozy on cool evenings. The primary bedroom, separated from the secondary bedrooms, boasts a spacious closet and full bath. Two additional bedrooms and a second full bath provide ample room for your family's comfort. The covered back deck affords hours of relaxation as you enjoy the backyard oasis with beautiful gardens and foliage. It's perfect for morning coffee, or for hosting those summer BBQs and entertaining. For more convenience, the lawn has an automatic sprinkler system. Two outbuildings provide plenty of storage, and there is room to add a garage/shop should you so desire. Newer furnace and hot water heater. Easy access to I-90/Trent.

9. 2023-08-01
   status Pending 1011-char remark

   Show marketing remark (1011 chars)

   This well-kept 1536sqft 3 bedroom, 2 bathroom Manufactured home sits on its own beautiful corner lot with a fenced backyard. NO lot rent or HOA. The home is freshly painted inside with beautiful new flooring throughout. Enjoy the roominess the vaulted ceilings and natural wood beams afford the two main living spaces, each with its own fireplace, to keep you cozy on cool evenings. The primary bedroom, separated from the secondary bedrooms, boasts a spacious closet and full bath. Two additional bedrooms and a second full bath provide ample room for your family's comfort. The covered back deck affords hours of relaxation as you enjoy the backyard oasis with beautiful gardens and foliage. It's perfect for morning coffee, or for hosting those summer BBQs and entertaining. For more convenience, the lawn has an automatic sprinkler system. Two outbuildings provide plenty of storage, and there is room to add a garage/shop should you so desire. Newer furnace and hot water heater. Easy access to I-90/Trent.

10. 2023-07-14
    listed $265,000 Active 1011-char remark

    Show marketing remark (1011 chars)

    This well-kept 1536sqft 3 bedroom, 2 bathroom Manufactured home sits on its own beautiful corner lot with a fenced backyard. NO lot rent or HOA. The home is freshly painted inside with beautiful new flooring throughout. Enjoy the roominess the vaulted ceilings and natural wood beams afford the two main living spaces, each with its own fireplace, to keep you cozy on cool evenings. The primary bedroom, separated from the secondary bedrooms, boasts a spacious closet and full bath. Two additional bedrooms and a second full bath provide ample room for your family's comfort. The covered back deck affords hours of relaxation as you enjoy the backyard oasis with beautiful gardens and foliage. It's perfect for morning coffee, or for hosting those summer BBQs and entertaining. For more convenience, the lawn has an automatic sprinkler system. Two outbuildings provide plenty of storage, and there is room to add a garage/shop should you so desire. Newer furnace and hot water heater. Easy access to I-90/Trent.

11. 2022-05-11
    soldstatus $210,000 Sold 387-char remark

    Show marketing remark (387 chars)

    Come see this well-maintained manufactured home on its own land. This home features 3 bedrooms 2 baths newer furnace and A/C, newer hot water tank and security system. This home sits on a corner lot, enjoy your evenings on the porch looking out to the beautifully landscaped yard or an evening in cozying up to the wood burning fireplace or gas stove. Sprinkler system in front and back.

12. 2022-05-11
    listed $210,000 387-char remark

    Show marketing remark (387 chars)

    Come see this well-maintained manufactured home on its own land. This home features 3 bedrooms 2 baths newer furnace and A/C, newer hot water tank and security system. This home sits on a corner lot, enjoy your evenings on the porch looking out to the beautifully landscaped yard or an evening in cozying up to the wood burning fireplace or gas stove. Sprinkler system in front and back.

13. 2022-05-11
    historical 387-char remark

    Show marketing remark (387 chars)

    Come see this well-maintained manufactured home on its own land. This home features 3 bedrooms 2 baths newer furnace and A/C, newer hot water tank and security system. This home sits on a corner lot, enjoy your evenings on the porch looking out to the beautifully landscaped yard or an evening in cozying up to the wood burning fireplace or gas stove. Sprinkler system in front and back.

14. 1986-02-28
    soldstatus $34,131

ⓘ 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: $2,848 · $237/mo
• Projected year-2 tax: $2,848 · $237/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 6/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 13 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: $25,908
• − Mortgage interest: −$8,402
• − Property taxes: −$2,848
• − Insurance: −$750
• − Repairs & maintenance: −$2,073
• − Management: −$2,073
• − Depreciation: −$4,364
• Taxable income: $5,399
• Est. tax owed @ 24.0%: −$1,296
• After-tax cash flow: $6,134/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: 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): 28,578
• Household income: $74,278
• Rent vs Own: 53.0% rent · 47.0% own
• Severe rent burden: 1478.0

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% Hispanic / Latino 8% Two or more races 7% Black 1% Native American 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Portuguese 5% Lithuanian 3% Italian 3%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 4% Russian/Polish/Slavic 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: ▼ -367.38%
• Current HPI: 359.7671
• Rent YoY: ▲ 2.88%
• 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

+339.5% since first listed

14 events — show timeline

• 2026-03-03 Pending — SPOKANEMLS as Distributed by MLS Grid
• 2026-03-03 Price Changed $150,000 SPOKANEMLS as Distributed by MLS Grid
• 2026-02-27 Relisted — SPOKANEMLS as Distributed by MLS Grid
• 2026-02-27 Price Changed $259,900 SPOKANEMLS as Distributed by MLS Grid
• 2026-02-17 Pending — SPOKANEMLS as Distributed by MLS Grid
• 2026-02-09 Listed $155,000 SPOKANEMLS as Distributed by MLS Grid
• 2023-10-27 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2023-10-24 Sold (MLS) $260,000 SPOKANEMLS as Distributed by MLS Grid
• 2023-08-01 Pending — SPOKANEMLS as Distributed by MLS Grid
• 2023-07-14 Listed $265,000 SPOKANEMLS as Distributed by MLS Grid
• 2022-05-11 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2022-05-11 Listed $210,000 SPOKANEMLS as Distributed by MLS Grid
• 2022-05-11 Sold (MLS) $210,000 SPOKANEMLS as Distributed by MLS Grid
• 1986-02-28 Sold (Public Records) $34,131 Public Records

Property tax history

+13.8%/yr

Latest (2026): $2,848 · +7.6% YoY. Source: county tax records.