11920 E Mansfield Ave #116 · Spokane Valley, WA 99206

$90,040

2 bd · 1.0 ba · 812 sqft · Manufactured public records · 244 Days on market

Built 2023 Good condition $111/sqft · 35% above area Est $65k · 39% over ↓ 5% since listing

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.3/10.0
• Livability +4.2/5.0
• Condition / age +4.0/5.0
• Rent growth +3.1/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this brand new 2 bed 1 bath manufactured home located inside of Pinecroft mobile home park in spokane valley. Here you have access to a range of amenities, including parks, playgrounds, and walking trails. With shopping, dining, and entertainment options just minutes away, everything you need is right at your fingertips. With financing available and the seller offering a 1 year home warranty, schedule your tour today and lets make this your new home!

Key facts

• Manufactured home
• Access to amenities
• Playgrounds

Tags

• MANUFACTURED HOME
• PINECROFT MOBILE HOME PARK
• ACCESS TO AMENITIES
• PARKS
• PLAYGROUNDS
• WALKING TRAILS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $90k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $520 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.2% vs local median 3.0% in Spokane Valley — 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 85/100 on livability (#31 in WA, #512 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime D+.
• East Valley School District (Spokane) (urban): math 40% / reading 56% proficiency, ranked #160 of 291 in WA (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.4%/yr); 303 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $623 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.
• At projected returns (-3.0% appreciation + 2.4% rent growth), your $25k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 244 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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: moderate flood risk; major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $79,235 (12.0% below list)

Questions for the listing agent

1. It's been on market 244 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.52% ✓
• Cap rate: 13.22%
• Cash-on-cash: 24.75%
• DSCR: 2.10
• GRM: 5.5

CMA / ARV

• ARV (median comp): $65,000
• List price: $90,040
• Delta: 38.52%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11920 E Mansfield Ave #111	0.09mi	2/1.0	784 (-3%)	2mo	$65,000	$83	89
11920 E Mansfield Ave #71	0.00mi	2/1.0	792 (-2%)	22mo	$90,000	$114	78
11920 E Mansfield Ave #72	0.00mi	2/1.0	792 (-2%)	22mo	$90,000	$114	78
11920 E Mansfield Ave #109	0.00mi	2/2.0	924 (+14%)	0mo	$45,000	$49	73

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 · 2.44% rent growth · sell at horizon

5-year hold

• IRR: 17.5%
• Equity multiple: 1.70×
• Total profit: $17,748
• Equity at exit: $13,425

10-year hold

• IRR: 25.6%
• Equity multiple: 3.18×
• Total profit: $54,924
• Equity at exit: $7,785

Cash invested: $25,211 (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 99206

• Rents YoY: 2.4%
• Active inventory: 303
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,370 high
• Mortgage (P&I): −$472
• Tax from tax record: −$53 /mo · $633/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $520

Break-even live

Break-even rent $712

Max offer price $90,040

Occupancy floor 57%

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: $22,510
• Closing costs: $2,701
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11921 E Mansfield Ave Spokane Valley, WA	2.0	1.0–2.0	890	$1,375	$1.54	13d	5	0.07mi
11901 E Mansfield Ave Spokane Valley, WA	1.0	1.0	574	$1,350	$2.35	43d	1	0.11mi
2605 N Robie Rd Spokane Valley, WA	2.0–3.0	2.0	1136	$1,052	$0.93	43d	1	0.23mi
2405 Cherry St Apt 6 Spokane Valley, WA	2.0	1.0	750	$1,375	$1.83	21d	1	0.24mi
2405 N Cherry St Spokane Valley, WA	1.0–2.0	1.0–2.0	836	$1,450	$1.73	14d	4	0.24mi
12422 E Mansfield Ave Spokane Valley, WA	2.0	1.0	786	$1,330	$1.69	14d	5	0.28mi
12423 E Mansfield Ave Spokane Valley, WA	1.0–2.0	1.0–2.0	823	$1,535	$1.87	14d	9	0.28mi
2301 N Wilbur Rd Spokane Valley, WA	1.0–2.0	1.0–2.0	837	$1,450	$1.73	43d	4	0.30mi
2107 N Houk Rd #7 Spokane Valley, WA	2.0	1.5	932	$1,400	$1.50	43d	1	0.31mi
1723 N Union Rd Spokane Valley, WA	1.0–2.0	1.0–2.0	818	$1,505	$1.84	14d	5	0.31mi
2115 N Houk Rd Unit C-03 Spokane Valley, WA	2.0	1.0	800	$1,275	$1.59	43d	1	0.32mi
2115 N Houk Rd Spokane Valley, WA	2.0	1.0	760	$1,272	$1.67	14d	2	0.32mi
2111 N Houk Rd Spokane Valley, WA	2.0	1.5	932	$1,345	$1.44	43d	1	0.33mi
2612 N Pines Rd Unit 37 Spokane Valley, WA	2.0	2.0	966	$1,325	$1.37	14d	1	0.34mi
2612 N Pines Rd Unit 12 Spokane Valley, WA	2.0	1.0	914	$1,225	$1.34	43d	1	0.35mi
2705 N Pines Rd Unit 03 Spokane Valley, WA	2.0	1.0	840	$1,245	$1.48	43d	1	0.36mi
2705 N Pines Rd Spokane Valley, WA	2.0	1.0	840	$1,165	$1.39	43d	1	0.36mi
2212 N Houk Rd Unit 2210 Spokane Valley, WA	2.0	1.0	950	$1,195	$1.26	43d	1	0.37mi
2212 N Houk Rd Spokane Valley, WA	2.0	1.0	950	$1,295	$1.36	14d	1	0.37mi
2212 N Houk Rd Unit 4 Spokane Valley, WA	2.0	1.0	950	$1,395	$1.47	23d	1	0.37mi
12820 E Mansfield Ave Apt 50 Spokane Valley, WA	1.0	1.0	689	$1,165	$1.69	14d	1	0.38mi
12820 E Mansfield Ave Apt 96 Spokane Valley, WA	2.0	2.0	956	$1,425	$1.49	14d	1	0.38mi
12820 E Mansfield Ave Unit 115 Spokane Valley, WA	2.0	1.0	857	$1,275	$1.49	43d	1	0.38mi
12820 E Mansfield Ave Apt 148 Spokane Valley, WA	2.0	1.0	918	$1,350	$1.47	14d	1	0.38mi
2721 N Cherry St Spokane Valley, WA	2.0–3.0	2.0	1152	$990	$0.86	14d	1	0.38mi
2718 N Bowdish Rd Spokane Valley, WA	2.0	1.0	844	$1,200	$1.42	14d	4	0.42mi
12202 E Maxwell Ave Spokane Valley, WA	2.0	2.0	1010	$1,444	$1.43	14d	3	0.49mi
2820 N Cherry St Spokane Valley, WA	2.0–3.0	1.0–2.0	963	$1,417	$1.47	14d	4	0.49mi
12820 E Mansfield Ave Unit 101 Spokane Valley, WA	2.0	1.0	857	$1,350	$1.58	43d	1	0.50mi
12925 E Mansfield Ave Spokane Valley, WA	1.0–3.0	1.0–2.0	897	$1,492	$1.66	14d	33	0.59mi
11813 E Broadway Ave Spokane Valley, WA	3.0	1.0–2.0	918	$1,616	$1.76	14d	26	0.80mi
13303 E Mission Ave Spokane Valley, WA	1.0–3.0	1.0–2.0	974	$1,638	$1.68	14d	14	0.85mi
12623 E Broadway Ave Spokane Valley, WA	1.0–3.0	1.0–2.0	952	$1,530	$1.61	14d	9	0.88mi
13310 E Mission Ave Unit 73 Spokane Valley, WA	1.0	1.0	660	$1,010	$1.53	43d	1	0.89mi
13310 E Mission Ave Apt 156 Spokane Valley, WA	2.0	1.0	902	$1,150	$1.27	43d	1	0.91mi
13310 E Mission Ave Unit 44 Spokane Valley, WA	2.0	1.0	902	$1,110	$1.23	43d	1	0.91mi
13310 E Mission Ave Apt 30 Spokane Valley, WA	2.0	1.0	902	$1,165	$1.29	43d	1	0.91mi
13310 E Mission Ave Unit 187 Spokane Valley, WA	1.0	1.0	660	$1,050	$1.59	43d	1	0.91mi
13320 E Mission Ave Unit 314 Spokane Valley, WA	1.0	1.0	660	$1,010	$1.53	14d	1	0.98mi
13320 E Mission Ave Unit 219 Spokane Valley, WA	1.0	1.0	660	$1,065	$1.61	23d	1	0.98mi

Listing history 27 events

1. 2026-06-18
   days on market $90,040 Active 244 DOM
2. 2026-06-17
   days on market $90,040 Active 243 DOM
3. 2026-06-16
   days on market $90,040 Active 242 DOM
4. 2026-06-15
   days on market $90,040 Active 241 DOM
5. 2026-06-14
   days on market $90,040 Active 239 DOM
6. 2026-06-10
   days on market $90,040 Active 236 DOM
7. 2026-06-09
   days on market $90,040 Active 235 DOM
8. 2026-06-08
   days on market $90,040 Active 234 DOM
9. 2026-06-07
   days on market $90,040 Active 233 DOM
10. 2026-06-05
    days on market $90,040 Active 230 DOM
11. 2026-06-03
    days on market $90,040 Active 229 DOM
12. 2026-06-02
    days on market $90,040 Active 228 DOM
13. 2026-06-01
    days on market $90,040 Active 227 DOM
14. 2026-05-31
    days on market $90,040 Active 226 DOM
15. 2026-05-31
    days on market $90,040 Active 225 DOM
16. 2025-10-17
    listed $90,040 Active 465-char remark

    Show marketing remark (465 chars)

    Welcome to this brand new 2 bed 1 bath manufactured home located inside of Pinecroft mobile home park in spokane valley. Here you have access to a range of amenities, including parks, playgrounds, and walking trails. With shopping, dining, and entertainment options just minutes away, everything you need is right at your fingertips. With financing available and the seller offering a 1 year home warranty, schedule your tour today and lets make this your new home!

17. 2025-10-17
    historical

    Show marketing remark (465 chars)

    Welcome to this brand new 2 bed 1 bath manufactured home located inside of Pinecroft mobile home park in spokane valley. Here you have access to a range of amenities, including parks, playgrounds, and walking trails. With shopping, dining, and entertainment options just minutes away, everything you need is right at your fingertips. With financing available and the seller offering a 1 year home warranty, schedule your tour today and lets make this your new home!

18. 2025-08-08
    listed $90,040 Active
19. 2025-08-08
    historical
20. 2025-04-16
    price $90,040
21. 2025-01-24
    price $95,040
22. 2024-11-12
    listed $94,040 Active
23. 2024-11-11
    historical
24. 2024-11-08
    price $94,040
25. 2024-09-13
    listed $95,040 Active
26. 2024-09-13
    historical
27. 2024-06-14
    listed $95,040 Active

ⓘ 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: $633 · $53/mo
• Projected year-2 tax: $882 · $74/mo
• Expected delta: +$250/yr (+$21/mo · 39.5%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 14 unhealthy d/yr today · 15 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,442
• − Mortgage interest: −$5,044
• − Property taxes: −$633
• − Insurance: −$450
• − Repairs & maintenance: −$1,315
• − Management: −$1,315
• − Depreciation: −$2,619
• Taxable income: $5,066
• Est. tax owed @ 24.0%: −$1,216
• After-tax cash flow: $5,025/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.

Condition & rehab AI · 12 photos

Good 80/100 None rehab

This brand new 2-bedroom 1-bathroom manufactured home is in excellent condition with no visible repairs needed. It offers a good investment opportunity with potential for value-add improvements.

Value-add opportunities

• Both Painting the exterior and interior — Fresh paint can enhance the curb appeal and interior aesthetics.
• Both Landscaping improvements — Well-maintained landscaping can improve curb appeal and attract potential buyers/tenants.
• Both Upgrading the flooring — Upgrading the flooring can improve the overall look and feel of the home.
• Both Upgrading the kitchen appliances — Modern appliances can make the kitchen more functional and attractive to potential buyers/tenants.
• Both Upgrading the bathroom fixtures — Modern fixtures can make the bathrooms more functional and attractive to potential buyers/tenants.
• Both Upgrading the HVAC system — A new HVAC system can improve comfort and energy efficiency, making the home more attractive to potential buyers/tenants.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior — Fresh paint can enhance the curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Well-maintained landscaping can improve curb appeal and attract potential buyers/tenants. ↑
• Both Upgrading the flooring — Upgrading the flooring can improve the overall look and feel of the home. ↑
• Both Upgrading the kitchen appliances — Modern appliances can make the kitchen more functional and attractive to potential buyers/tenants. ↑
• Both Upgrading the bathroom fixtures — Modern fixtures can make the bathrooms more functional and attractive to potential buyers/tenants. ↑
• Both Upgrading the HVAC system — A new HVAC system can improve comfort and energy efficiency, making the home more attractive to potential buyers/tenants. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: East Valley School District (Spokane)
• NCES district ID: 5302280
• Math proficiency: 40% ▼ -5.00%
• Reading proficiency: 56% ▼ -4.00%
• Median HH income: $49,557
• Composite: 43.15/100
• National rank: #6603
• State rank: #160 of 291 in WA

Livability — Spokane Valley

• Score: 85/100
• State rank: #31
• US rank: #512

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Spokane Valley, WA
• County: Spokane County · 496,401 people
• City population: 129,511
• Metro: Spokane-Spokane Valley, WA
• Population (ZIP): 41,089
• Household income: $81,764
• Rent vs Own: 38.5% rent · 61.5% own
• Severe rent burden: 1523.0

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 (82%)
• Race & ethnicity: White 82% Two or more races 8% Hispanic / Latino 7% Black 2% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 5% Slovak 3% Lithuanian 3%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 93% 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: ▼ -377.59%
• Current HPI: 339.9959
• Rent YoY: ▲ 2.44%
• 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

-5.3% since first listed

12 events — show timeline

• 2025-10-17 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2025-10-17 Listed $90,040 SPOKANEMLS as Distributed by MLS Grid
• 2025-08-08 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2025-08-08 Listed $90,040 SPOKANEMLS as Distributed by MLS Grid
• 2025-04-16 Price Changed $90,040 SPOKANEMLS as Distributed by MLS Grid
• 2025-01-24 Price Changed $95,040 SPOKANEMLS as Distributed by MLS Grid
• 2024-11-12 Listed $94,040 SPOKANEMLS as Distributed by MLS Grid
• 2024-11-11 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2024-11-08 Price Changed $94,040 SPOKANEMLS as Distributed by MLS Grid
• 2024-09-13 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2024-09-13 Listed $95,040 SPOKANEMLS as Distributed by MLS Grid
• 2024-06-14 Listed $95,040 SPOKANEMLS as Distributed by MLS Grid

Property tax history

-6.6%/yr

Latest (2026): $633 · -6.6% YoY. Source: county tax records.