35312 N Newport Hwy Trlr 48 · Deer Park, WA 99003

$120,000

3 bd · 2.0 ba · 1,288 sqft · Manufactured public records · 11 Days on market

Built 1992 4,356 sqft lot $93/sqft · 85% above area

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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 +29.5/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Schools +4.5/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Rustic Ridge! This cute as a button home has one of the larger backyards that back up to the woods, with views of the mountains. Open and spacious, with updated flooring, painted cabinets, and ensuite primary bedroom and bathroom. Custom built shed, matching the home, allows for more storage space. Park includes new basketball court, dog park, and playground. Close and convenient commute to Spokane and Deer Park. Not a 55+ community. Call for your showing today.

Key facts

• Large back deck
• Bright living space
• Flexible layout

Tags

• OVERSIZED LOT
• OUTDOOR SPACE
• LARGE BACK DECK
• STORAGE SHED
• FLEXIBLE LAYOUT
• BRIGHT LIVING SPACE

Property features AI

Finance

• Other: Residential property in a land-lease community
• Financial info: Land lease amount applies
• HOA & community: Association transfer fee paid by seller; Located in Rustic Ridge park (Trlr #48)

Exterior

• Parking: Slab parking; No carport spaces
• Utilities: Starlink internet
• Home design: Manufactured home; Single-story (manufactured house); Liberty Homes make
• Construction: Vinyl siding; Metal roof; Block foundation; Skirted
• Exterior features: Deck; Patio; Level, open corner lot; Oversized lot; Private road frontage

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Free-standing range
• Bedrooms: 3 bedrooms
• Heating & cooling: Forced air heating; Window unit cooling
• Interior features: Washer and dryer included; Dishwasher; Microwave; Refrigerator; Free-standing range
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $120k.

Deal economics

• At list price, monthly cash flow is $430 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Cap rate 10.6% vs local median 2.5% in Deer Park — 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 57/100 on livability (#531 in WA) — a working-class tenant base; expect higher turnover. Strengths: housing A+, cost of living B+; Watch: amenities F, commute F, employment D-.
• Riverside School District (rural): math 45% / reading 54% proficiency, ranked #144 of 291 in WA (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Riverside Elementary (396 students, 59% FRL); Riverside High School (487 students, 47% FRL).
• Market conditions: 103 active listings in the ZIP; 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 $830 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 + 3.0% rent growth), your $34k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 7y 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: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $120,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.24% ✓
• Cap rate: 10.60%
• Cash-on-cash: 15.37%
• DSCR: 1.68
• GRM: 6.7

CMA / ARV

• ARV (median comp): $65,000
• List price: $120,000
• Delta: 84.62%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3812 E Bailey Rd	0.67mi	3/2.0	1,248 (-3%)	3mo	$415,000	$333	61

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: 6.1%
• Equity multiple: 1.24×
• Total profit: $7,930
• Equity at exit: $17,892

10-year hold

• IRR: 15.4%
• Equity multiple: 2.25×
• Total profit: $42,080
• Equity at exit: $10,375

Cash invested: $33,600 (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 99003

• Home prices YoY: -12.1%
• Active inventory: 103
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,492 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$69 /mo · $832/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $430

Break-even live

Break-even rent $948

Max offer price $120,000

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-13
   listed $120,000 Active 985-char remark
2. 2023-09-28
   soldstatus $120,000 Closed 477-char remark

   Show marketing remark (477 chars)

   Welcome to Rustic Ridge! This cute as a button home has one of the larger backyards that back up to the woods, with views of the mountains. Open and spacious, with updated flooring, painted cabinets, and ensuite primary bedroom and bathroom. Custom built shed, matching the home, allows for more storage space. Park includes new basketball court, dog park, and playground. Close and convenient commute to Spokane and Deer Park. Not a 55+ community. Call for your showing today.

3. 2023-08-11
   status Pending 477-char remark

   Show marketing remark (477 chars)

   Welcome to Rustic Ridge! This cute as a button home has one of the larger backyards that back up to the woods, with views of the mountains. Open and spacious, with updated flooring, painted cabinets, and ensuite primary bedroom and bathroom. Custom built shed, matching the home, allows for more storage space. Park includes new basketball court, dog park, and playground. Close and convenient commute to Spokane and Deer Park. Not a 55+ community. Call for your showing today.

4. 2023-07-24
   listed $120,000 Active 477-char remark

   Show marketing remark (477 chars)

   Welcome to Rustic Ridge! This cute as a button home has one of the larger backyards that back up to the woods, with views of the mountains. Open and spacious, with updated flooring, painted cabinets, and ensuite primary bedroom and bathroom. Custom built shed, matching the home, allows for more storage space. Park includes new basketball court, dog park, and playground. Close and convenient commute to Spokane and Deer Park. Not a 55+ community. Call for your showing today.

5. 2019-08-16
   soldstatus $58,000 Sold

   Show marketing remark (279 chars)

   Beautifully updated double - wide manufactured home. Why rent when you can own you home? New landscaping, two tier deck and complete remodel breaths new life into this 3 bedroom, 2 bath house. New stainless steel appliances stay. Breathtaking mountain views. Come make it yours!

6. 2019-08-05
   status Pending

   Show marketing remark (279 chars)

   Beautifully updated double - wide manufactured home. Why rent when you can own you home? New landscaping, two tier deck and complete remodel breaths new life into this 3 bedroom, 2 bath house. New stainless steel appliances stay. Breathtaking mountain views. Come make it yours!

7. 2019-06-04
   listed $70,000 New

   Show marketing remark (279 chars)

   Beautifully updated double - wide manufactured home. Why rent when you can own you home? New landscaping, two tier deck and complete remodel breaths new life into this 3 bedroom, 2 bath house. New stainless steel appliances stay. Breathtaking mountain views. Come make it yours!

ⓘ 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: $832 · $69/mo
• Projected year-2 tax: $1,176 · $98/mo
• Expected delta: +$344/yr (+$29/mo · 41.3%)

ⓘ 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 8/10 Severe
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 14 unhealthy d/yr today · 17 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,907
• − Mortgage interest: −$6,722
• − Property taxes: −$832
• − Insurance: −$600
• − Repairs & maintenance: −$1,433
• − Management: −$1,433
• − Depreciation: −$3,491
• Taxable income: $3,397
• Est. tax owed @ 24.0%: −$815
• After-tax cash flow: $4,348/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: Riverside School District
• NCES district ID: 5307440
• Math proficiency: 45% ▲ 1.00%
• Reading proficiency: 54% ▲ 3.00%
• Median HH income: $58,674
• Composite: 45.22/100
• National rank: #5773
• State rank: #144 of 291 in WA

Livability — Deer Park

• Score: 57/100
• State rank: #531
• US rank: #22045

Category grades

Amenities F Commute F Cost of living B+ Crime C+ Employment D- Housing A+ Health & safety F User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 16,177
• Population (ZIP): 4,634

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 12% Hispanic / Latino 5% Native American 3% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 7% Slovak 4% Iranian 3%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Tagalog/Filipino 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: ▼ -55.60%
• Current HPI: 403.0044
• 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

+71.4% since first listed

8 events — show timeline

• 2026-05-24 Pending — SPOKANEMLS as Distributed by MLS Grid
• 2026-05-13 Listed $120,000 SPOKANEMLS as Distributed by MLS Grid
• 2023-09-28 Sold (MLS) $120,000 SPOKANEMLS as Distributed by MLS Grid
• 2023-08-11 Pending — SPOKANEMLS as Distributed by MLS Grid
• 2023-07-24 Listed $120,000 SPOKANEMLS as Distributed by MLS Grid
• 2019-08-16 Sold (MLS) $58,000 SPOKANEMLS as Distributed by MLS Grid
• 2019-08-05 Pending — SPOKANEMLS as Distributed by MLS Grid
• 2019-06-04 Listed $70,000 SPOKANEMLS as Distributed by MLS Grid

Property tax history

+14.9%/yr

Latest (2026): $832 · -7.1% YoY. Source: county tax records.