4086 Meadowlark Ln · Loon Lake, WA 99148

$135,000

3 bd · 2.0 ba · 1,456 sqft · Manufactured public records · 49 Days on market

Built 1999 0.60 ac lot $93/sqft · 61% below area ↓ 21% since listing

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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
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Schools +3.5/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Peace and tranquility define life in Loon Lake Acres, a welcoming 55+ manufactured home community designed for comfort, convenience, and connection. This well-maintained 1999 home features a brand-new roof installed in 2026 and sits on a generously sized, oversized lot—offering both space and privacy. Located just a scenic 30-minute drive from North Spokane’s Costco, this property delivers the perfect balance of peaceful living with easy access to everyday amenities. For those who have dreamed of lake life, the Loon Lake public boat launch is just minutes away—making it simple to enjoy boating, fishing, and waterfront relaxation whenever you choose. Loon Lake Acres is thou

Key facts

• Public boat launch
• Oversized lot
• New roof

Tags

• NEW ROOF
• OVERSIZED LOT
• PUBLIC BOAT LAUNCH
• LOW-MAINTENANCE LIFESTYLE

Property features AI

Finance

• Other: Waterfront: see remarks
• HOA & community: Located in a senior community (Loon Lake Acres); Land lease: $575

Exterior

• Parking: 2-space carport; Off-site parking available
• Utilities: Gravel and city street frontage
• Home design: Manufactured home (Redman); Residential property; Skirted foundation
• Construction: Fiber cement exterior; Composition roof
• Exterior features: Deck; Fenced yard with cross-fencing; Treed and secluded setting; Level, open and oversized lot; Views

Interior

• Kitchen: Free-standing range; Dishwasher
• Bedrooms: 3 bedrooms
• Heating & cooling: Forced air heating
• Interior features: Smart thermostat; Skylights; Utility room
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $135k.

Deal economics

• At list price, monthly cash flow is $482 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 1.8% in Loon Lake — 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 58/100 on livability (#514 in WA) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: crime D+, amenities F, commute F.
• Loon Lake School District (rural): math 30% / reading 45% proficiency, ranked #234 of 291 in WA (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Loon Lake Homelink Program (103 students, 46% FRL) — zoned schools average 46% FRL vs 30% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 66 active listings in the ZIP; 341 units permitted in Stevens County in 2024 (72 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Stevens County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $130,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is D 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: 1.33% ✓
• Cap rate: 10.58%
• Cash-on-cash: 15.30%
• DSCR: 1.68
• GRM: 6.3

CMA / ARV

• ARV (median comp): $346,405
• List price: $135,000
• Delta: -61.03%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4079 Bluebird Dr	0.04mi	3/2.0	1,458 (+0%)	12mo	$203,000	$139	88
4081 Lacey Ln	0.22mi	3/2.0	1,400 (-4%)	9mo	$345,000	$246	76
4085 Bluebird Dr	0.06mi	3/2.0	1,620 (+11%)	9mo	$211,000	$130	71
3833 Meadowlark Way	0.46mi	3/2.0	1,512 (+4%)	2mo	$465,000	$308	71
4098 Meadowlark Ln	0.07mi	3/2.0	1,362 (-6%)	21mo	$195,000	$143	68

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: 6.0%
• Equity multiple: 1.23×
• Total profit: $8,837
• Equity at exit: $20,129

10-year hold

• IRR: 15.4%
• Equity multiple: 2.25×
• Total profit: $47,317
• Equity at exit: $11,672

Cash invested: $37,800 (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 99148

• Home prices YoY: -29.0%
• Active inventory: 66
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,791 medium
• Mortgage (P&I): −$708
• Tax est. 1.5%: −$169 /mo · $2,025/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $482

Break-even live

Break-even rent $1,181

Max offer price $135,000

Occupancy floor 68%

Sensitivity live

Price	-10% $575	-5% $528	+0% $482	+5% $435	+10% $388
Rent	-10% $340	-5% $411	+0% $482	+5% $553	+10% $623
Rate	-1.0pp $550	-0.5pp $516	base $482	+0.5pp $447	+1.0pp $411

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $135,000 Active 49 DOM
2. 2026-06-17
   days on market $135,000 Active 48 DOM
3. 2026-06-16
   days on market $135,000 Active 47 DOM
4. 2026-06-15
   days on market $135,000 Active 46 DOM
5. 2026-06-14
   days on market $135,000 Active 44 DOM
6. 2026-06-13
   days on market $135,000 Active 43 DOM
7. 2026-06-10
   days on market $135,000 Active 41 DOM
8. 2026-06-09
   days on market $135,000 Active 40 DOM
9. 2026-06-08
   days on market $135,000 Active 39 DOM
10. 2026-06-07
    days on market $135,000 Active 38 DOM
11. 2026-06-03
    days on market $135,000 Active 34 DOM
12. 2026-06-02
    days on market $135,000 Active 33 DOM
13. 2026-06-01
    pricedays on market $135,000 Active 32 DOM
14. 2026-05-31
    days on market $145,000 Active 31 DOM
15. 2026-05-31
    days on market $145,000 Active 30 DOM
16. 2026-04-30
    listed $145,000 Active 992-char remark
17. 2026-03-19
    historical
18. 2026-01-11
    price $149,500
19. 2025-12-18
    price $154,999
20. 2025-11-20
    listed $169,999 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 · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 2/10 Low 7 d/yr ≥90°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 16 unhealthy d/yr today · 19 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,490
• − Mortgage interest: −$7,562
• − Property taxes: −$2,025
• − Insurance: −$675
• − Repairs & maintenance: −$1,719
• − Management: −$1,719
• − Depreciation: −$3,927
• Taxable income: $3,862
• Est. tax owed @ 24.0%: −$927
• After-tax cash flow: $4,855/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: Loon Lake School District
• NCES district ID: 5304500
• Math proficiency: 30% ▲ 5.00%
• Reading proficiency: 45% ▲ 5.00%
• Median HH income: $47,184
• Composite: 34.65/100
• National rank: #10072
• State rank: #234 of 291 in WA

Livability — Loon Lake

• Score: 58/100
• State rank: #514
• US rank: #21206

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Loon Lake, WA
• Population (ZIP): 2,381

Population outlook (Stevens County) Hauer SSP2

• Today (2025): 43,696 people
• By 2030: 43,203 · -1.1%
• By 2040: 41,190 · -5.7%
• By 2050: 38,231 · -12.5%
• By 2075: 31,260 · -28.5%
• By 2100: 22,931 · -47.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 9% Hispanic / Latino 3% Native American 1%
• Common ancestry: Italian 8% Portuguese 6% Slovak 3%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Stevens

• 2024 margin: Solid R (+44.1) · D 26.7% · R 70.8% · Other 2.5%
• 2008→2024 swing: -23.4pp toward R · 2008: -20.7pp · 2024: -44.1pp
• All cycles: 2024: R+44.1 2020: R+42.1 2016: R+40.8 2012: R+27.7 2008: R+20.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -122.85%
• Current HPI: 301.1876
• 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

-20.6% since first listed

6 events — show timeline

• 2026-06-01 Price Changed $135,000 SPOKANEMLS as Distributed by MLS Grid
• 2026-04-30 Listed $145,000 SPOKANEMLS as Distributed by MLS Grid
• 2026-03-19 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2026-01-11 Price Changed $149,500 SPOKANEMLS as Distributed by MLS Grid
• 2025-12-18 Price Changed $154,999 SPOKANEMLS as Distributed by MLS Grid
• 2025-11-20 Listed $169,999 SPOKANEMLS as Distributed by MLS Grid

Property tax history

-7.5%/yr

Latest (2024): $270 · -7.9% YoY. Source: county tax records.