4605 N Darin Rd · Otis Orchards-East Farms, WA 99027

$359,950

4 bd · 2.0 ba · 1,760 sqft · SingleFamily public records · 22 Days on market

Built 1972 0.30 ac lot $205/sqft · 6% below area Est $420k · 14% under

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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).

• ARV discount +13.9/15.0
• Cash flow +11.7/30.0
• Schools +4.3/10.0
• DSCR +3.4/10.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Motivated Seller. 3 bed 1 3/4 bath, oversized fenced backyard. Newer roof, end of street. 1 year home warranty included.

Key facts

• Rv parking
• Quiet setting
• Finished basement

Tags

• OVERSIZED LOT
• MAIN FLOOR LIVING
• FINISHED BASEMENT
• HUGE FENCED BACKYARD
• RV PARKING
• QUIET SETTING

Property features AI

Exterior

• Parking: Attached garage with garage door opener; RV access/parking; 2 garage spaces
• Home design: Single-family residence; One-story structure; Below-grade finished area present
• Construction: Masonite exterior; Composition roof; Full basement (finished)
• Exterior features: Fenced yard; Located on a cul-de-sac; Oversized lot; Paved road frontage

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 4 bedrooms
• Heating & cooling: Natural gas forced-air heating
• Interior features: Pantry; Finished full basement with recreation/family area
• Laundry & utility: Basement laundry area

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $360k.

Deal economics

• At list price, monthly cash flow is $-108 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $341k (5.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $280k (22.4% below list).
• Recommended offer: $280k (22.4% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 1.7% in Otis Orchards-East Farms — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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: Otis Orchards School (367 students, 76% FRL); East Valley Middle School (435 students, 71% FRL); East Valley High School (957 students, 58% FRL) — zoned schools average 68% FRL vs 45% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 58 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $2k of loan paydown is wiped out by about $11k 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 22 days — a 2% lower offer ($355k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 24y 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 $171k; list at $360k implies a 111% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $279,500 (22.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1972 — 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. 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?
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: 0.78% ✗
• Cap rate: 5.93%
• Cash-on-cash: -1.29%
• DSCR: 0.94
• GRM: 10.7

CMA / ARV

• ARV (median comp): $419,742
• List price: $359,950
• Delta: -14.24%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5007 N Darin Rd	0.25mi	4/2.0	1,932 (+10%)	0mo	$415,000	$215	72
5105 N Tiara Ct	0.30mi	4/2.0	1,727 (-2%)	19mo	$389,900	$226	67
5014 N Karen Rd	0.27mi	5/2.0 (+1)	1,597 (-9%)	2mo	$370,000	$232	65
21316 E Queen Ave	0.45mi	4/2.0	1,728 (-2%)	14mo	$440,000	$255	64
20716 E Gilbert Rd	0.41mi	3/1.0 (-1)	1,695 (-4%)	11mo	$379,000	$224	57
21304 E Queen Ave	0.43mi	3/2.0 (-1)	1,728 (-2%)	18mo	$460,000	$266	57
21023 E Trent Ave	0.57mi	5/2.0 (+1)	1,758 (-0%)	15mo	$424,000	$241	56
4908 N Darin Rd	0.17mi	3/2.0 (-1)	1,564 (-11%)	22mo	$423,000	$270	50
3601 N Ashton Rd	0.64mi	3/3.0 (-1)	1,770 (+1%)	14mo	$603,700	$341	49
5018 N Karen Rd	0.28mi	5/2.0 (+1)	1,980 (+12%)	16mo	$428,000	$216	48

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -18.4%
• Equity multiple: 0.35×
• Total profit: $-65,284
• Equity at exit: $53,670

10-year hold

• IRR: -10.8%
• Equity multiple: 0.35×
• Total profit: $-65,981
• Equity at exit: $31,122

Cash invested: $100,786 (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 99027

• Home prices YoY: -20.5%
• Active inventory: 58
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,795 medium
• Mortgage (P&I): −$1,888
• Tax from tax record: −$279 /mo · $3,344/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$587
• Net cashflow: $-108

Break-even live

Break-even rent $2,932

Max offer price $340,830

Occupancy floor 99%

Sensitivity live

Price	-10% $96	-5% $-6	+0% $-108	+5% $-210	+10% $-312
Rent	-10% $-329	-5% $-219	+0% $-108	+5% $2	+10% $113
Rate	-1.0pp $73	-0.5pp $-17	base $-108	+0.5pp $-202	+1.0pp $-296

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: $89,988
• Closing costs: $10,798
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3113 N Rio Grande Rd Otis Orchards, WA	3.0	2.5	2350	$2,795	$1.19	45d	1	1.39mi

Listing history 12 events

1. 2026-05-31
   status $359,950 Pending 22 DOM
2. 2026-05-07
   listed $359,950 Active 880-char remark
3. 2007-02-09
   soldstatus $170,671 121-char remark

   Show marketing remark (121 chars)

   Motivated Seller. 3 bed 1 3/4 bath, oversized fenced backyard. Newer roof, end of street. 1 year home warranty included.

4. 2007-02-07
   listed $169,700 121-char remark

   Show marketing remark (121 chars)

   Motivated Seller. 3 bed 1 3/4 bath, oversized fenced backyard. Newer roof, end of street. 1 year home warranty included.

5. 2007-02-07
   soldstatus $170,670

   Show marketing remark (121 chars)

   Motivated Seller. 3 bed 1 3/4 bath, oversized fenced backyard. Newer roof, end of street. 1 year home warranty included.

6. 2007-01-14
   historical
7. 2006-08-08
   listed $169,700
8. 2002-03-18
   soldstatus $102,900
9. 2002-03-13
   soldstatus $102,900
10. 2002-01-23
    listed $99,900
11. 1995-11-13
    soldstatus $91,000
12. 1990-11-05
    soldstatus $52,500

ⓘ 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: $3,344 · $279/mo
• Projected year-2 tax: $3,528 · $294/mo
• Expected delta: +$183/yr (+$15/mo · 5.5%)

ⓘ 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 7/10 Severe
• 🌡 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 15 unhealthy d/yr today · 17 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,540
• − Mortgage interest: −$20,163
• − Property taxes: −$3,344
• − Insurance: −$1,800
• − Repairs & maintenance: −$2,683
• − Management: −$2,683
• − Depreciation: −$10,471
• Taxable loss: −$7,604
• Est. tax savings @ 24.0%: +$1,825
• After-tax cash flow: $526/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 — Otis Orchards-East Farms

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Otis Orchards-East Farms, WA
• Population (ZIP): 5,878

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 (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Slovak 6% Portuguese 3% Lithuanian 2%
• Foreign-born: 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: ▼ -92.71%
• Current HPI: 360.3438
• Rent YoY: —
• Metro: —
• 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

+585.6% since first listed

12 events — show timeline

• 2026-05-30 Pending — SPOKANEMLS as Distributed by MLS Grid
• 2026-05-07 Listed $359,950 SPOKANEMLS as Distributed by MLS Grid
• 2007-02-09 Sold (MLS) $170,671 SPOKANEMLS as Distributed by MLS Grid
• 2007-02-07 Sold (Public Records) $170,670 Public Records
• 2007-02-07 Listed $169,700 SPOKANEMLS as Distributed by MLS Grid
• 2007-01-14 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2006-08-08 Listed $169,700 SPOKANEMLS as Distributed by MLS Grid
• 2002-03-18 Sold (MLS) $102,900 SPOKANEMLS as Distributed by MLS Grid
• 2002-03-13 Sold (Public Records) $102,900 Public Records
• 2002-01-23 Listed $99,900 SPOKANEMLS as Distributed by MLS Grid
• 1995-11-13 Sold (Public Records) $91,000 Public Records
• 1990-11-05 Sold (Public Records) $52,500 Public Records

Property tax history

+4.3%/yr

Latest (2026): $3,344 · +1.6% YoY. Source: county tax records.