52 S Treeline St · Airway Heights, WA 99001

$325,000

3 bd · 2.0 ba · 1,242 sqft · SingleFamily public records · 53 Days on market

Built 2025 4,299 sqft lot $262/sqft · 17% below area Est $393k · 17% under $70/mo HOA · 4% of rent ↓ 38% since listing

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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 +6.2/30.0
• Appreciation +5.3/10.0
• Schools +4.6/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.5/10.0
• 1% rule +0.4/10.0

Listing remarks

This newly constructed, homes is ready for new owners! These homes offer 3 bedrooms and 2 bathrooms near parks and a school. This home has high valted ceilings and wide hallways. The home comes with all appliances including washer and dryer. You must be an income-qualified, first-time home buyer and work with a Washington State Housing Finance Commission – approved lender. All potential buyers must complete & agree to Habitat For Humanity's pre-submittal checklist (including a housing counseling appointment) before submitting an offer. If you thought home ownership was out of reach, this program may be the opportunity you've been waiting for. $80,000 of possible down payment a

Key facts

• 4,299 sq ft lot
• Built 2025
• Listed 53 days

Property features AI

Finance

• Other: Built by HFH
• HOA & community: HOA with a $70 monthly fee; Association transfer fee of $250

Exterior

• Parking: Slab parking; Off-site parking
• Utilities: High-speed internet available
• Home design: Single-family residence; One-story; Residential property; Accessible features with 32-inch doorways and hallways
• Construction: Masonite exterior; Composition roof; New construction
• Exterior features: Patio; Automatic sprinkler; Level lot; City street and paved road frontage

Interior

• Kitchen: Free-standing range; Dishwasher; Refrigerator; Disposal; Microwave; Hard surface counters
• Bedrooms: 3 bedrooms
• Heating & cooling: Electric heating; Forced air; Heat pump; Central air conditioning
• Interior features: Smart thermostat; Pantry; Utility room
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $325k.

Deal economics

• At list price, monthly cash flow is $-596 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $220k (32.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $174k (46.4% below list).
• Recommended offer: $174k (46.4% below list) — sets the bar for 1% rule.
• Cap rate 4.1% vs local median 3.1% in Airway Heights — 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 73/100 on livability (#204 in WA) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: crime F, amenities D-.
• Cheney School District (town): math 47% / reading 56% proficiency, ranked #140 of 291 in WA (top 48%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Sunset Elementary (588 students, 74% FRL); Westwood Middle School (585 students, 61% FRL); Cheney High School (1,476 students, 50% FRL) — zoned schools average 62% FRL vs 40% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 59 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 33% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $4k of equity ($2k loan paydown + $2k appreciation (0.7% local appreciation)).
• Spokane County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 7, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($315k) is reasonable based on typical stale-listing flexibility.

Recommended offer $174,299 (46.4% 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 53 days. Have you received any prior offers? Is the seller open to a 46% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.54% ✗
• Cap rate: 4.09%
• Cash-on-cash: -7.86%
• DSCR: 0.65
• GRM: 15.5

CMA / ARV

• ARV (median comp): $392,996
• List price: $325,000
• Delta: -17.30%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13433 W Crosswinds Ave	0.14mi	3/2.0	1,317 (+6%)	2mo	$369,995	$281	82
13522 W Crosswinds Ave	0.20mi	3/2.0	1,317 (+6%)	1mo	$362,595	$275	80
56 S Airlift St	0.29mi	3/2.0	1,317 (+6%)	1mo	$377,595	$287	76
13540 W Crosswinds Ave	0.24mi	3/2.0	1,317 (+6%)	4mo	$359,995	$273	76
12605 W Tower Ave	0.49mi	3/2.0	1,234 (-1%)	2mo	$364,000	$295	74
12425 W 2nd Ave	0.53mi	3/2.0	1,232 (-1%)	2mo	$360,397	$293	72
12612 W 5th Ave	0.56mi	3/2.0	1,244 (+0%)	2mo	$334,000	$268	72
12411 W 2nd Ave	0.56mi	3/2.0	1,244 (+0%)	2mo	$350,000	$281	72
159 S Treeline St	0.21mi	3/2.0	1,416 (+14%)	1mo	$394,698	$279	66
12424 W 2nd Ave	0.51mi	3/2.0	1,148 (-8%)	2mo	$342,500	$298	62
216 S Lawson St St	0.40mi	3/2.0	1,408 (+13%)	3mo	$400,000	$284	57
420 S Treeline Pl	0.42mi	3/2.0	1,416 (+14%)	2mo	$394,893	$279	55

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.68% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -8.3%
• Equity multiple: 0.59×
• Total profit: $-37,092
• Equity at exit: $105,551

10-year hold

• IRR: -2.5%
• Equity multiple: 0.70×
• Total profit: $-26,878
• Equity at exit: $136,184

Cash invested: $91,000 (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 99001

• Home prices YoY: 0.2%
• Active inventory: 59
• Price-to-rent: 15.5×

Monthly cashflow live

• Estimated rent: $1,743 high
• Mortgage (P&I): −$1,704
• Tax from tax record: −$63 /mo · $757/yr
• Insurance: −$135
• HOA: −$70
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $-596

Break-even live

Break-even rent $2,497

Max offer price $219,732

Occupancy floor —

Sensitivity live

Price	-10% $-412	-5% $-504	+0% $-596	+5% $-688	+10% $-780
Rent	-10% $-734	-5% $-665	+0% $-596	+5% $-527	+10% $-458
Rate	-1.0pp $-432	-0.5pp $-513	base $-596	+0.5pp $-680	+1.0pp $-766

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13660 W 6th Ave Airway Heights, WA	2.0–3.0	2.0	1152	$1,150	$1.00	15d	1	0.48mi
12501 W 6th Ave Airway Heights, WA	1.0–3.0	1.0–2.0	1033	$2,251	$2.18	15d	10	0.74mi
802 S Garfield Rd Airway Heights, WA	3.0	1.0–2.0	870	$1,750	$2.01	15d	12	0.82mi
13914 W Redding Dr Unit A Airway Heights, WA	2.0	1.0	780	$1,225	$1.57	15d	1	0.90mi
Airway Townhomes Garfield, Chandler, & Avalon Airway Heights, WA	3.0	2.0	1498	$1,745	$1.16	15d	3	0.91mi
12406 W 11th Ave Airway Heights, WA	3.0	2.0	1350	$2,000	$1.48	45d	1	0.93mi
831 S Avalon St Airway Heights, WA	3.0	3.0	1442	$1,895	$1.31	15d	1	0.94mi
304 S Kalispel Way Airway Heights, WA	1.0–3.0	1.0–2.0	1018	$1,936	$1.90	15d	11	1.27mi
1808 S Lawson St Unit 409 Airway Heights, WA	2.0	1.0	800	$1,045	$1.31	45d	1	1.30mi
11103 W 6th Ave Airway Heights, WA	2.0	1.0–2.0	768	$1,555	$2.02	15d	1	1.44mi

HOA detail

• Monthly dues: $70 · $840/yr

Listing history 19 events

1. 2026-06-22
   days on market $325,000 Active 53 DOM
2. 2026-06-18
   days on market $325,000 Active 50 DOM
3. 2026-06-17
   days on market $325,000 Active 49 DOM
4. 2026-06-16
   days on market $325,000 Active 48 DOM
5. 2026-06-15
   days on market $325,000 Active 47 DOM
6. 2026-06-14
   days on market $325,000 Active 45 DOM
7. 2026-06-13
   days on market $325,000 Active 44 DOM
8. 2026-06-10
   days on market $325,000 Active 42 DOM
9. 2026-06-09
   days on market $325,000 Active 41 DOM
10. 2026-06-08
    days on market $325,000 Active 40 DOM
11. 2026-06-07
    days on market $325,000 Active 39 DOM
12. 2026-06-05
    days on market $325,000 Active 36 DOM
13. 2026-06-03
    days on market $325,000 Active 35 DOM
14. 2026-06-02
    days on market $325,000 Active 34 DOM
15. 2026-06-01
    days on market $325,000 Active 33 DOM
16. 2026-05-31
    days on market $325,000 Active 32 DOM
17. 2026-05-31
    days on market $325,000 Active 31 DOM
18. 2026-04-29
    listed $325,000 Active 763-char remark
19. 2024-12-20
    soldstatus $525,000

ⓘ 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: $757 · $63/mo
• Projected year-2 tax: $3,185 · $265/mo
• Expected delta: +$2,428/yr (+$202/mo · 320.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $20,916
• − Mortgage interest: −$18,205
• − Property taxes: −$757
• − Insurance: −$1,625
• − Repairs & maintenance: −$1,673
• − Management: −$1,673
• − HOA: −$840
• − Depreciation: −$9,455
• Taxable loss: −$13,313
• Est. tax savings @ 24.0%: +$3,195
• After-tax cash flow: $-3,956/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: Cheney School District
• NCES district ID: 5301230
• Math proficiency: 47% ▲ 1.00%
• Reading proficiency: 56% ▲ 1.00%
• Median HH income: $46,800
• Composite: 45.66/100
• National rank: #5637
• State rank: #140 of 291 in WA

Livability — Airway Heights

• Score: 73/100
• State rank: #204
• US rank: #5600

Category grades

Amenities D- Commute A+ Cost of living A- 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: Airway Heights, WA
• County: Spokane County · 496,401 people
• City population: 9,440
• Metro: Spokane-Spokane Valley, WA
• Population (ZIP): 9,440
• Household income: $62,518
• Rent vs Own: 67.9% rent · 32.1% own
• Severe rent burden: 345.0

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: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 57% Two or more races 12% Hispanic / Latino 10% Black 7% Asian 6% Pacific Islander 5% Native American 4%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2%
• Common ancestry: Italian 5% Czech 2% Slovak 2%
• Foreign-born: 9% · Canada, South Korea, China
• Languages at home: 83% English-only · Spanish 4% Tagalog/Filipino 3% Arabic 3%

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: ▲ 0.68%
• Current HPI: 333.0166
• Rent YoY: —
• 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

-38.1% since first listed

2 events — show timeline

• 2026-04-29 Listed $325,000 SPOKANEMLS as Distributed by MLS Grid
• 2024-12-20 Sold (Public Records) $525,000 Public Records

Property tax history

+1522.7%/yr

Latest (2025): $757 · +1522.7% YoY. Source: county tax records.