104 W Cora Ave Unit 102 W Cora Ave · Spokane, WA 99205

$418,500

8 bd · 4.0 ba · 3,100 sqft · MultiFamily · 35 Days on market

Built 1974 Average condition 6,098 sqft lot Est $561k · 25% under

---

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 +16.1/30.0
• ARV discount +15.0/15.0
• DSCR +5.0/10.0
• Schools +4.6/10.0
• 1% rule +4.4/10.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• Condition / age +2.8/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

UPDATED PRICE! Turnkey duplex with immediate cash flow in a great central Spokane location offering an excellent opportunity for owner-occupants or investors alike. Live in one unit and offset your monthly mortgage with rental income from the other, or continue operating as a straightforward investment. Current gross rent of $3,400/month ($40,800/year). This side-by-side duplex features two spacious units, one configured as a 4-bedroom and the other as a 3-bedroom with garage space. Both units offer private fenced backyard patio areas and off-street parking. Well-maintained with consistent updates during current ownership, including landscaping and drainage improvements, full yard fencing,

Key facts

• 6,098 sq ft lot
• Garage
• Built 1974

Property features AI

Finance

• Other: Total building area approximately 3,100 (public records); Two total units (one 4-bed/2-bath unit and one 3-bed/2-bath unit)
• HOA & community: No community or association amenities

Exterior

• Parking: Attached underground garage with 1 garage space
• Utilities: High-speed internet available
• Home design: Residential income duplex; Duplex structure
• Construction: Wood siding; Composition roof
• Exterior features: Patio; Fenced yard; Hillside lot; City bus service within ~6 blocks; Paved city street frontage

Interior

• Kitchen: Free-standing range; Dishwasher; Refrigerator
• Bedrooms: One unit with 4 bedrooms; One unit with 3 bedrooms
• Bathrooms: Each unit has 2 bathrooms
• Heating & cooling: Electric baseboard heating; Window air conditioning units
• Interior features: Finished full basement with daylight windows and walk-out access; Appliances include free-standing range, dishwasher, and refrigerator
• Laundry & utility: Washer and dryer included

🏷️ Possibly a rental listed for sale. The $418,500 price doesn't fit this home's estimated sale value (~$561,100) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 1×4bd/2.0ba + 1×3bd/2.0ba units multifamily listed at $418k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $216 ($3k/yr) — positive. Per door: $108/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $394k (6.0% below list).
• Recommended offer: $394k (6.0% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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: Garfield Elementary (382 students, 79% FRL); North Central High School (1,674 students, 64% FRL) — zoned schools average 71% FRL vs 50% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.2%/yr); 324 active listings in the ZIP; solid renter incomes; 3,608 units permitted in Spokane County in 2024 (1,792 in 5+ unit buildings).
• At $3,935/mo this rent would consume 61% of the median local household income ($77k/yr) (locally 965% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k 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 35 days — a 3% lower offer ($406k) is reasonable based on typical stale-listing flexibility.

Recommended offer $393,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.94% ✗
• Cap rate: 6.91%
• Cash-on-cash: 2.22%
• DSCR: 1.10
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $561,100
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
620 E Euclid Ave	0.56mi	7/4.0 (-1)	2,760 (-11%)	7mo	$500,000	$181	44
702-704 E Bridgeport Ave	0.62mi	8/4.0	3,360 (+8%)	18mo	$485,000	$144	42

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 · 3.23% rent growth · sell at horizon

5-year hold

• IRR: -12.5%
• Equity multiple: 0.55×
• Total profit: $-53,055
• Equity at exit: $62,400

10-year hold

• IRR: -3.1%
• Equity multiple: 0.79×
• Total profit: $-24,440
• Equity at exit: $36,184

Cash invested: $117,180 (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 99205

• Rents YoY: 3.2%
• Active inventory: 324
• Price-to-rent: 16.9×

Monthly cashflow live

• Estimated rent: $3,935 high
• Mortgage (P&I): −$2,195
• Tax est. 1.5%: −$523 /mo · $6,278/yr
• Insurance: −$174
• HOA: −$0
• Vacancy / Maint / Mgmt: −$826
• Net cashflow: $216

Break-even live

Break-even rent $3,661

Max offer price $418,500

Occupancy floor 90%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	4	2	$2,067
1× unit	3	2	$1,868
Total (2 units)			$3,935

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: $104,625
• Closing costs: $12,555
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-10
   status $418,500 Pending 35 DOM
2. 2026-06-09
   days on market $418,500 Active 35 DOM
3. 2026-06-08
   days on market $418,500 Active 34 DOM
4. 2026-06-07
   days on market $418,500 Active 33 DOM
5. 2026-06-03
   days on market $418,500 Active 29 DOM
6. 2026-06-02
   days on market $418,500 Active 28 DOM
7. 2026-06-01
   days on market $418,500 Active 27 DOM
8. 2026-05-31
   days on market $418,500 Active 26 DOM
9. 2026-05-31
   days on market $418,500 Active 25 DOM
10. 2026-05-05
    listed $425,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 15 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: $47,220
• − Mortgage interest: −$23,443
• − Property taxes: −$6,278
• − Insurance: −$2,092
• − Repairs & maintenance: −$3,778
• − Management: −$3,778
• − Depreciation: −$12,175
• Taxable loss: −$4,322
• Est. tax savings @ 24.0%: +$1,037
• After-tax cash flow: $3,635/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 · 12 photos

Average 55/100 Moderate rehab

This two-unit duplex requires moderate renovations to improve its curb appeal and interior aesthetics, which can significantly increase its resale and rental value.

Repairs flagged

• Minor Kitchen backsplash — Worn and dated appearance
• Minor Bathroom fixtures — Signs of wear
• Moderate Exterior siding — Weathered appearance
• Moderate Windows — Signs of wear
• Moderate Carpeted floors — Worn appearance
• Moderate Paint — Faded appearance
• Moderate HVAC system — Dated appearance
• Moderate Electrical outlets and switches — Worn appearance

Value-add opportunities

• Both Painting and updating kitchen backsplash — Fresh paint and updated backsplash can significantly improve the home's curb appeal and interior aesthetics.
• Both HVAC system upgrade — A new HVAC system can improve comfort and energy efficiency, making the home more attractive to buyers and renters.
• Both Window replacement — New windows can improve energy efficiency, reduce heating and cooling costs, and enhance the home's curb appeal.
• Both Exterior siding repair and painting — A fresh coat of paint and repairs to the siding can significantly improve the home's curb appeal and increase its value.
• Both Floor refinishing and carpet cleaning — Fresh floors and clean carpets can make the home more attractive to buyers and renters, especially in the rental market.
• Both Electrical outlet replacement and lighting upgrades — Upgrading the electrical outlets and adding modern lighting fixtures can improve the home's functionality and aesthetics, making it more attractive to buyers and renters.
• Both Landscaping and curb appeal improvements — A well-maintained and landscaped yard can significantly improve the home's curb appeal and increase its value, both in the resale and rental markets.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen backsplash · Worn and dated appearance	Minor	$500–3,000
Bathroom fixtures · Signs of wear	Minor	$500–3,000
Exterior siding · Weathered appearance	Moderate	$3,000–15,000
Windows · Signs of wear	Moderate	$3,000–15,000
Carpeted floors · Worn appearance	Moderate	$3,000–15,000
Paint · Faded appearance	Moderate	$3,000–15,000
HVAC system · Dated appearance	Moderate	$3,000–15,000
Electrical outlets and switches · Worn appearance	Moderate	$3,000–15,000
Total estimated repair cost · 8 items		$19,000–96,000

Value-add ROI direction

• Both Painting and updating kitchen backsplash — Fresh paint and updated backsplash can significantly improve the home's curb appeal and interior aesthetics. ↑
• Both HVAC system upgrade — A new HVAC system can improve comfort and energy efficiency, making the home more attractive to buyers and renters. ↑
• Both Window replacement — New windows can improve energy efficiency, reduce heating and cooling costs, and enhance the home's curb appeal. ↑
• Both Exterior siding repair and painting — A fresh coat of paint and repairs to the siding can significantly improve the home's curb appeal and increase its value. ↑
• Both Floor refinishing and carpet cleaning — Fresh floors and clean carpets can make the home more attractive to buyers and renters, especially in the rental market. ↑
• Both Electrical outlet replacement and lighting upgrades — Upgrading the electrical outlets and adding modern lighting fixtures can improve the home's functionality and aesthetics, making it more attractive to buyers and renters. ↑
• Both Landscaping and curb appeal improvements — A well-maintained and landscaped yard can significantly improve the home's curb appeal and increase its value, both in the resale and rental markets. ↑

ⓘ 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: 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): 43,169
• Household income: $77,374
• Rent vs Own: 27.5% rent · 72.5% own
• Severe rent burden: 965.0

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 (81%)
• Race & ethnicity: White 81% Two or more races 10% Hispanic / Latino 7% Asian 2% Black 1% Native American 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 5% Slovak 3% Romanian 2%
• Foreign-born: 3% · Canada, Philippines
• Languages at home: 94% English-only · Spanish 2% Other Asian/Pacific 1% Russian/Polish/Slavic 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: ▼ -475.69%
• Current HPI: 377.1519
• Rent YoY: ▲ 3.23%
• 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

1 event — show timeline

• 2026-05-05 Listed $425,000 SPOKANEMLS as Distributed by MLS Grid