1512 E Dalton Ave · Spokane, WA 99207

$189,000

2 bd · 1.0 ba · 1,337 sqft · SingleFamily public records · 35 Days on market

Built 1908 6,007 sqft lot Est $253k · 25% 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 +15.0/15.0
• Cash flow +12.7/30.0
• Schools +4.6/10.0
• Livability +4.0/5.0
• DSCR +3.8/10.0
• 1% rule +3.5/10.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

New Price $189,000 for a quick sale. Home sold AS-IS. Bring your toolbelt and vision—this home is ready to shine! This 2-bedroom, 2-bathroom, two-story home is full of potential and conveniently located just one block from Gonzaga Prep and close to shopping, dining, and everyday amenities. With solid bones and a functional layout, this home offers a great opportunity for first-time buyers looking to build equity or investors seeking their next project. Features include a newer hot water tank, new windows, and the roof is just a few years old. Enjoy morning coffee on the covered front porch and take advantage of the fenced front yard for added privacy. The home has been tenant-occupied

Key facts

• 6,007 sq ft lot
• Garage
• Built 1908

Property features AI

Finance

• Other: Below-grade finished area present; Living area approximately 1,737 total square feet

Exterior

• Parking: Detached garage; 1 garage space
• Utilities: High-speed internet available (Xfinity)
• Home design: Single-family residence; Two-story structure; Residential property
• Construction: Masonite exterior; Composition roof; Partial unfinished basement
• Exterior features: Deck; Patio; Fenced yard; Level lot; Garden; City bus service within ~6 blocks; Paved road frontage; City street frontage

Interior

• Kitchen: Free-standing range; Refrigerator
• Bedrooms: 2 bedrooms
• Heating & cooling: Natural gas forced-air heating
• Interior features: Hot water; Cathedral ceilings; Utility room

🏷️ Possibly a rental listed for sale. The $189,000 price doesn't fit this home's estimated sale value (~$252,693) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $189k.

Deal economics

• At list price, monthly cash flow is $-20 ($-237/yr) — negative.
• To cash-flow at today's rent, offer at most $186k (1.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $160k (15.2% below list).
• Recommended offer: $160k (15.2% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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: Bemiss Elementary (384 students, 87% FRL); Shaw Middle School (764 students, 88% FRL); Rogers High School (1,536 students, 83% FRL) — zoned schools average 86% FRL vs 50% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.2%/yr); 241 active listings in the ZIP; 19 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 32% of the median local income ($60k/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 $6k 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 ($183k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $21k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $12k; list at $189k implies a 1468% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1908 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $160,200 (15.2% 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. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Built in 1908 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
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 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: 0.85% ✗
• Cap rate: 6.17%
• Cash-on-cash: -0.45%
• DSCR: 0.98
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $252,693
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1507 E Bridgeport Ave	0.16mi	3/2.0 (+1)	1,313 (-2%)	1mo	$305,000	$232	80
904 E Empire Ave	0.61mi	2/1.0	1,303 (-2%)	1mo	$258,000	$198	67
1317 E Dalton Ave	0.14mi	3/2.0 (+1)	1,200 (-10%)	5mo	$265,000	$221	64
1627 E Lacrosse Ave	0.65mi	2/1.0	1,392 (+4%)	3mo	$254,500	$183	60
1421 E Carlisle Ave	0.45mi	3/1.0 (+1)	1,441 (+8%)	4mo	$272,400	$189	57
3423 N Stone St	0.56mi	3/1.0 (+1)	1,261 (-6%)	5mo	$238,000	$189	55
1114 E Providence Ave	0.47mi	3/2.0 (+1)	1,425 (+7%)	8mo	$290,000	$204	52
2224 E Empire Ave	0.68mi	2/1.0	1,436 (+7%)	5mo	$167,000	$116	52
603 E Liberty Ave	0.60mi	3/1.0 (+1)	1,463 (+9%)	3mo	$270,000	$185	48
548 E Dalton Ave	0.64mi	3/1.0 (+1)	1,441 (+8%)	7mo	$273,000	$189	46
1654 E Rich Ave	0.73mi	3/1.0 (+1)	1,476 (+10%)	3mo	$270,000	$183	41
2110 E Glass Ave	0.50mi	3/2.0 (+1)	1,138 (-15%)	4mo	$345,000	$303	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 · 3.25% rent growth · sell at horizon

5-year hold

• IRR: -16.8%
• Equity multiple: 0.41×
• Total profit: $-31,469
• Equity at exit: $28,181

10-year hold

• IRR: -8.1%
• Equity multiple: 0.48×
• Total profit: $-27,310
• Equity at exit: $16,341

Cash invested: $52,920 (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 99207

• Home prices YoY: -21.3%
• Rents YoY: 3.2%
• Active inventory: 241
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,602 high
• Mortgage (P&I): −$991
• Tax from tax record: −$215 /mo · $2,585/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $-20

Break-even live

Break-even rent $1,627

Max offer price $185,511

Occupancy floor 96%

Sensitivity live

Price	-10% $87	-5% $34	+0% $-20	+5% $-73	+10% $-127
Rent	-10% $-146	-5% $-83	+0% $-20	+5% $44	+10% $107
Rate	-1.0pp $75	-0.5pp $28	base $-20	+0.5pp $-69	+1.0pp $-119

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1503 E Marietta Ave Spokane, WA	2.0	1.5	993	$1,775	$1.79	16d	1	0.32mi
3316 N Nevada St Spokane, WA	2.0	1.0	1250	$1,395	$1.12	25d	1	0.39mi
1007 E Carlisle Ave Spokane, WA	2.0	1.5	1680	$1,895	$1.13	25d	1	0.54mi
3007 N Standard St Spokane, WA	2.0	1.0	1178	$1,500	$1.27	16d	1	0.62mi
1107 E Walton Ave Spokane, WA	3.0	1.0	1600	$1,975	$1.23	25d	1	0.66mi
3203 N Smith St Unit 12 Spokane, WA	2.0	1.0	900	$1,100	$1.22	16d	1	0.72mi
1842 E South Riverton Ave Spokane, WA	1.0–3.0	1.0–2.0	915	$1,403	$1.53	25d	1	0.80mi
717 E Lacrosse Ave Spokane, WA	3.0	2.5	1680	$1,995	$1.19	16d	1	0.82mi
1608 E South Riverton Ave Spokane, WA	3.0	2.0	1215	$1,995	$1.64	16d	2	0.94mi
2513 N Regal St Spokane, WA	2.0	1.0	1000	$1,538	$1.54	16d	3	0.96mi
2112 N Astor St Spokane, WA	3.0	1.0	1400	$1,650	$1.18	25d	1	0.96mi
1449 N Madelia St Spokane, WA	2.0	1.5	1010	$1,650	$1.63	25d	2	1.04mi
2909 E Rockwell Ave Unit 2909 Spokane, WA	2.0	1.0	1008	$1,500	$1.49	23d	1	1.20mi
139 W Gray Ct Unit 110 Spokane, WA	2.0	1.0	935	$1,295	$1.39	25d	1	1.23mi
2011 E Desmet Ave Spokane, WA	2.0	1.0	900	$1,250	$1.39	16d	1	1.30mi
3431 E Montgomery Ave #3433 Spokane, WA	3.0	2.0	1056	$1,795	$1.70	25d	1	1.42mi
4207 N Normandie St Spokane, WA	3.0	1.0	1556	$2,300	$1.48	23d	1	1.43mi
2523 E Desmet Ave Spokane, WA	3.0	2.5	1500	$1,700	$1.13	16d	1	1.44mi
1411 E Iron Bridge Way Spokane, WA	3.0	1.0–2.0	826	$2,516	$3.04	16d	6	1.46mi

Listing history 6 events

1. 2026-05-31
   status $189,000 Pending 35 DOM
2. 2026-05-09
   price $189,000
3. 2026-05-09
   status Active
4. 2026-04-26
   status Pending
5. 2026-04-10
   listed $210,000 Active
6. 1987-12-28
   soldstatus $12,056

ⓘ 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: $2,585 · $215/mo
• Projected year-2 tax: $2,585 · $215/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 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: $19,224
• − Mortgage interest: −$10,587
• − Property taxes: −$2,585
• − Insurance: −$945
• − Repairs & maintenance: −$1,538
• − Management: −$1,538
• − Depreciation: −$5,498
• Taxable loss: −$3,467
• Est. tax savings @ 24.0%: +$832
• After-tax cash flow: $595/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: 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): 32,770
• Household income: $60,452
• Rent vs Own: 42.4% rent · 57.6% own
• Severe rent burden: 1557.0

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 (76%)
• Race & ethnicity: White 76% Two or more races 10% Hispanic / Latino 8% Black 4% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 3% Lithuanian 3% Slovak 3%
• Foreign-born: 6% · Canada, Vietnam, Philippines
• Languages at home: 90% 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: ▼ -103.43%
• Current HPI: 381.758
• Rent YoY: ▲ 3.25%
• 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

+1467.7% since first listed

5 events — show timeline

• 2026-05-09 Price Changed $189,000 SPOKANEMLS as Distributed by MLS Grid
• 2026-05-09 Relisted — SPOKANEMLS as Distributed by MLS Grid
• 2026-04-26 Pending — SPOKANEMLS as Distributed by MLS Grid
• 2026-04-10 Listed $210,000 SPOKANEMLS as Distributed by MLS Grid
• 1987-12-28 Sold (Public Records) $12,056 Public Records

Property tax history

+7.9%/yr

Latest (2026): $2,585 · +7.5% YoY. Source: county tax records.