1127 W Gordon Ave · Spokane, WA 99205

$100,000

1 bd · 1.0 ba · 548 sqft · SingleFamily public records · 30 Days on market

Built 1908 5,663 sqft lot

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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 +25.3/30.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• Schools +4.6/10.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity knocks steps away from the Garland District. This property is ideal for investors, flippers, or developers looking to unlock value in a rapidly evolving area. The existing home offers potential for renovation, rental income, or redevelopment, while the lot itself presents exciting possibilities for future use. Adjacent parcel at 1133 W Gordon is also available, creating a rare chance to assemble two side-by-side properties for expanded development potential. Explore options for multi-unit housing, increased density, or a larger-scale investment project. Convenient location near downtown Spokane, major arterials, parks, schools, and shopping. Whether you’re looking for your

Key facts

• Increased density
• Multi-unit housing
• Rental income

Tags

• POTENTIAL FOR RENOVATION
• RENTAL INCOME
• REDEVELOPMENT
• EXPANDED DEVELOPMENT POTENTIAL
• MULTI-UNIT HOUSING
• INCREASED DENSITY

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: High-speed internet available (Xfinity)
• Home design: Single-family residential; Wood siding; Composition roof
• Construction: Wood siding construction; Composition roof
• Exterior features: City street frontage; Paved road access; Lot about 0.13 acre

Interior

• Bedrooms: 1 bedroom
• Heating & cooling: Natural gas heating
• Interior features: One-story layout; 550 sq. ft. living area

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $227 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.0% 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: Finch Elementary (380 students, 59% FRL); Shadle Park High School (1,382 students, 60% FRL).
• Market conditions: Rents rising (+3.2%/yr); 324 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $691 of loan paydown is wiped out by about $3k 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 30 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $6k; list at $100k implies a 1718% 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 $98,500 (1.5% below list)

Questions for the listing agent

1. Built in 1908 — 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 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?
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: 1.21% ✓
• Cap rate: 9.01%
• Cash-on-cash: 9.72%
• DSCR: 1.43
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $221,392
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1507 W Chelan Ave	0.65mi	1/1.0	576 (+5%)	1mo	$162,000	$281	60
4128 N Monroe St	0.44mi	1/1.0	486 (-11%)	19mo	$240,000	$494	45
2709 N Jefferson St	0.55mi	1/1.0	624 (+14%)	15mo	$252,000	$404	39
4108 N Maple St	0.45mi	2/1.0 (+1)	629 (+15%)	22mo	$126,000	$200	31

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: -1.4%
• Equity multiple: 0.95×
• Total profit: $-1,440
• Equity at exit: $14,910

10-year hold

• IRR: 8.6%
• Equity multiple: 1.67×
• Total profit: $18,668
• Equity at exit: $8,646

Cash invested: $28,000 (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 99205

• Rents YoY: 3.2%
• Active inventory: 324
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,210 high
• Mortgage (P&I): −$524
• Tax from tax record: −$163 /mo · $1,952/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $227

Break-even live

Break-even rent $922

Max offer price $100,000

Occupancy floor 76%

Sensitivity live

Price	-10% $283	-5% $255	+0% $227	+5% $198	+10% $170
Rent	-10% $131	-5% $179	+0% $227	+5% $275	+10% $322
Rate	-1.0pp $277	-0.5pp $252	base $227	+0.5pp $201	+1.0pp $174

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1104 W Kiernan Ave Unit 02 Spokane, WA	2.0	1.0	585	$1,100	$1.88	24d	1	0.14mi
3218 N Maple St Spokane, WA	2.0	1.0	660	$1,495	$2.27	14d	1	0.30mi
951 W Walton Ave Spokane, WA	1.0	1.0	601	$1,450	$2.41	14d	10	0.36mi
3909 N Wall St Spokane, WA	1.0–2.0	1.0–2.0	775	$1,790	$2.31	14d	4	0.41mi
139 W Gray Ct Unit 201 Spokane, WA	1.0	1.0	605	$995	$1.64	24d	1	0.70mi
1006 W Mansfield Ave Spokane, WA	1.0	1.0	600	$1,135	$1.89	14d	5	0.84mi
2002 N Monroe St Spokane, WA	1.0	1.0	703	$1,590	$2.26	14d	1	0.97mi
2915 N Mayfair St Unit 16 Spokane, WA	2.0	1.0	700	$1,050	$1.50	24d	1	1.00mi
2915 N Mayfair St Unit 15 Spokane, WA	2.0	1.0	700	$1,050	$1.50	14d	1	1.00mi
1911 N Monroe St Unit D Spokane, WA	—	1.0	376	$715	$1.90	14d	1	1.01mi
120 E Euclid Ave Unit 3 Spokane, WA	2.0	1.0	640	$1,095	$1.71	24d	1	1.03mi
1028 W Augusta Ave Unit 4 Spokane, WA	1.0	1.0	600	$825	$1.38	14d	1	1.15mi
1725 N Howard St Unit 1 Spokane, WA	2.0	1.0	600	$1,175	$1.96	14d	1	1.18mi
1423 W Maxwell Ave Unit 2 Spokane, WA	1.0	1.0	550	$795	$1.45	24d	1	1.36mi
1412 N Post St Spokane, WA	1.0	1.0	600	$995	$1.66	24d	1	1.36mi
1405 N Wall St Unit 303 Spokane, WA	1.0	1.0	700	$1,295	$1.85	24d	1	1.38mi
1405 N Wall St Apt 203 Spokane, WA	1.0	1.0	700	$1,145	$1.64	24d	1	1.38mi
406 E Montgomery Ave Spokane, WA	1.0	1.0	490	$986	$2.01	14d	3	1.42mi
709 E Kiernan Ave Spokane, WA	1.0	1.0	728	$1,250	$1.72	24d	1	1.42mi
1221 N Monroe St Unit 2 Spokane, WA	2.0	1.0	600	$1,265	$2.11	14d	1	1.47mi
1221 N Monroe St Spokane, WA	2.0	1.0	600	$1,360	$2.27	14d	1	1.47mi
1221 N Monroe St Spokane, WA	1.0	1.0	650	$900	$1.38	24d	1	1.47mi

Listing history 16 events

1. 2026-06-18
   days on market $100,000 Active 30 DOM
2. 2026-06-17
   days on market $100,000 Active 29 DOM
3. 2026-06-16
   days on market $100,000 Active 28 DOM
4. 2026-06-15
   days on market $100,000 Active 27 DOM
5. 2026-06-14
   days on market $100,000 Active 25 DOM
6. 2026-06-10
   days on market $100,000 Active 22 DOM
7. 2026-06-09
   days on market $100,000 Active 21 DOM
8. 2026-06-08
   days on market $100,000 Active 20 DOM
9. 2026-06-07
   days on market $100,000 Active 19 DOM
10. 2026-06-03
    days on market $100,000 Active 15 DOM
11. 2026-06-02
    days on market $100,000 Active 14 DOM
12. 2026-06-01
    days on market $100,000 Active 13 DOM
13. 2026-05-31
    days on market $100,000 Active 12 DOM
14. 2026-05-31
    days on market $100,000 Active 11 DOM
15. 2026-05-19
    listed $100,000 Active
16. 1977-01-06
    soldstatus $5,500

ⓘ 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: $1,952 · $163/mo
• Projected year-2 tax: $1,952 · $163/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: $14,514
• − Mortgage interest: −$5,602
• − Property taxes: −$1,952
• − Insurance: −$500
• − Repairs & maintenance: −$1,161
• − Management: −$1,161
• − Depreciation: −$2,909
• Taxable income: $1,229
• Est. tax owed @ 24.0%: −$295
• After-tax cash flow: $2,426/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): 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

+1718.2% since first listed

2 events — show timeline

• 2026-05-19 Listed $100,000 SPOKANEMLS as Distributed by MLS Grid
• 1977-01-06 Sold (Public Records) $5,500 Public Records

Property tax history

+11.4%/yr

Latest (2026): $1,952 · +15.1% YoY. Source: county tax records.