40414 N Newport Hwy #34 · Deer Park, WA 99009

$55,000

2 bd · 1.0 ba · 910 sqft · Manufactured public records · 156 Days on market

Built 1971 $60/sqft · 65% below 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

This well maintained and spacious 2-bedroom 1-bathroom manufactured home in Eloika Pines could very well be your new home. Newer laminate flooring, updated breaker box, stainless and black appliances, and covered porches are just a few of the amenities. The large lot is fenced and has some nice trees. Parking pad for the vehicles. This is a "must see" property. Call your favorite agent today for a private showing and start your home ownership journey. Lot Rent of $650/mth, Must be approved by Park Management.

Key facts

• Updated breaker box
• Laminate flooring
• Covered porches

Tags

• LAMINATE FLOORING
• UPDATED BREAKER BOX
• STAINLESS AND BLACK APPLIANCES
• COVERED PORCHES
• LARGE LOT
• FENCED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $55k.

Deal economics

• At list price, monthly cash flow is $486 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.9% 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.
• Market conditions: 82 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 $380 of loan paydown is wiped out by about $2k 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 $15k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 156 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 4 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.
• Current owner paid $44k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $48,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 156 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.90% ✓
• Cap rate: 16.90%
• Cash-on-cash: 37.87%
• DSCR: 2.68
• GRM: 4.4

CMA / ARV

• ARV (median comp): $159,443
• List price: $55,000
• Delta: -65.50%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
40414 N Newport Hwy #26	0.00mi	2/2.0	924 (+2%)	11mo	$53,900	$58	84
40414 N Newport #30 Hwy #30	0.00mi	2/1.0	980 (+8%)	16mo	$40,000	$41	74
41210 N Newport Hwy Hwy	0.53mi	3/2.0 (+1)	860 (-6%)	1mo	$265,000	$308	57

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: 33.9%
• Equity multiple: 2.43×
• Total profit: $22,028
• Equity at exit: $8,201

10-year hold

• IRR: 40.8%
• Equity multiple: 4.83×
• Total profit: $58,995
• Equity at exit: $4,755

Cash invested: $15,400 (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 99009

• Home prices YoY: -14.6%
• Active inventory: 82
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,043 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$27 /mo · $321/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$219
• Net cashflow: $486

Break-even live

Break-even rent $428

Max offer price $55,000

Occupancy floor 48%

Sensitivity live

Price	-10% $517	-5% $502	+0% $486	+5% $470	+10% $455
Rent	-10% $404	-5% $445	+0% $486	+5% $527	+10% $568
Rate	-1.0pp $514	-0.5pp $500	base $486	+0.5pp $472	+1.0pp $457

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2025-12-24
   listed $55,000 Active 525-char remark

   Show marketing remark (525 chars)

   This well maintained and spacious 2-bedroom 1-bathroom manufactured home in Eloika Pines could very well be your new home. Newer laminate flooring, updated breaker box, stainless and black appliances, and covered porches are just a few of the amenities. The large lot is fenced and has some nice trees. Parking pad for the vehicles. This is a "must see" property. Call your favorite agent today for a private showing and start your home ownership journey. Lot Rent of $650/mth, Must be approved by Park Management.

2. 2025-11-10
   historical
3. 2025-10-09
   listed $55,000 Active
4. 2023-08-29
   soldstatus $44,000 Closed
5. 2023-08-14
   status Pending
6. 2023-07-28
   listed $50,000 Active
7. 2019-02-15
   soldstatus $35,500 Sold
8. 2019-01-31
   status Pending
9. 2019-01-28
   listed $35,000 New

ⓘ 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: $321 · $27/mo
• Projected year-2 tax: $539 · $45/mo
• Expected delta: +$218/yr (+$18/mo · 68.1%)

ⓘ 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 7/10 Severe
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°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: $12,517
• − Mortgage interest: −$3,081
• − Property taxes: −$321
• − Insurance: −$275
• − Repairs & maintenance: −$1,001
• − Management: −$1,001
• − Depreciation: −$1,600
• Taxable income: $5,238
• Est. tax owed @ 24.0%: −$1,257
• After-tax cash flow: $4,574/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): 4,525

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 (80%)
• Race & ethnicity: White 80% Two or more races 18% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 5% Lithuanian 4% Iranian 2%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 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: ▼ -64.46%
• Current HPI: 375.8615
• 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

+57.1% since first listed

9 events — show timeline

• 2025-12-24 Listed $55,000 SPOKANEMLS as Distributed by MLS Grid
• 2025-11-10 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2025-10-09 Listed $55,000 SPOKANEMLS as Distributed by MLS Grid
• 2023-08-29 Sold (MLS) $44,000 SPOKANEMLS as Distributed by MLS Grid
• 2023-08-14 Pending — SPOKANEMLS as Distributed by MLS Grid
• 2023-07-28 Listed $50,000 SPOKANEMLS as Distributed by MLS Grid
• 2019-02-15 Sold (MLS) $35,500 SPOKANEMLS as Distributed by MLS Grid
• 2019-01-31 Pending — SPOKANEMLS as Distributed by MLS Grid
• 2019-01-28 Listed $35,000 SPOKANEMLS as Distributed by MLS Grid

Property tax history

+15.5%/yr

Latest (2026): $321 · -0.9% YoY. Source: county tax records.