18915 E Marietta Ave · Spokane Valley, WA 99027

$188,000

3 bd · 2.0 ba · 1,440 sqft · Manufactured public records · 48 Days on market

Built 1973 8,179 sqft lot $131/sqft · 34% below area Est $287k · 34% under

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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 +27.0/30.0
• ARV discount +15.0/15.0
• DSCR +9.3/10.0
• 1% rule +7.0/10.0
• Schools +4.3/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor alert! Opportunity awaits with this double-wide manufactured home offering 3 bedrooms and 2 bathrooms in a convenient location. The home features a functional floor plan with comfortable living space and great potential for updates or rental income. A detached 336 sq ft garage/ shop provides additional storage, workspace, plus parking flexibility. The property includes a backyard with room for outdoor enjoyment, gardening, or future improvements. Ideal for investors, first-time buyers, or those looking to add value. Conveniently located near everyday amenities, making it a practical option for living or investment. Don't miss this chance to bring your vision and make the most of this property.

Key facts

• Backyard
• Convenient location
• Detached garage

Tags

• DOUBLE-WIDE MANUFACTURED HOME
• DETACHED GARAGE
• BACKYARD
• CONVENIENT LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $188k.

Deal economics

• At list price, monthly cash flow is $525 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $188k).
• Recommended offer: $182k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.6% 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.
• Zoned schools: Continuous Curriculum School (371 students, 48% FRL); East Valley Middle School (435 students, 71% FRL); East Valley High School (957 students, 58% FRL).
• Market conditions: 58 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $1k of loan paydown is wiped out by about $6k 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 $53k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 16y ago; this cycle's ask has dropped $10k (5%) 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 $182,360 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.20% ✓
• Cap rate: 9.65%
• Cash-on-cash: 11.98%
• DSCR: 1.53
• GRM: 6.9

CMA / ARV

• ARV (median comp): $286,737
• List price: $188,000
• Delta: -34.43%
• 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
18915 E Marietta Ave	0.00mi	3/2.0	1,440 (0%)	0mo	$175,000	$122	100
18821 E Montgomery Dr	0.18mi	3/2.0	1,458 (+1%)	1mo	$360,000	$247	89
2423 N Drummond Rd	0.22mi	3/2.0	1,440 (0%)	9mo	$325,000	$226	82
19215 E Marietta Ave	0.14mi	3/2.0	1,536 (+7%)	2mo	$240,000	$156	80
2601 N Barker Rd #118	0.23mi	3/2.0	1,404 (-2%)	6mo	$145,000	$103	80
18917 E Jackson Dr	0.14mi	3/2.0	1,272 (-12%)	2mo	$310,000	$244	72
18720 E Fairview Ct	0.21mi	2/2.0 (-1)	1,548 (+8%)	1mo	$355,000	$229	72
18411 E Courtland Ave	0.64mi	3/2.0	1,440 (0%)	1mo	$244,500	$170	69
18924 E Montgomery Dr	0.19mi	3/2.0	1,280 (-11%)	5mo	$395,000	$309	69
1811 N Grady Ln	0.60mi	3/2.0	1,568 (+9%)	7mo	$258,000	$165	52
19316 E Augusta Ln	0.69mi	2/2.0 (-1)	1,568 (+9%)	2mo	$260,000	$166	46
3318 N Mckee St	0.48mi	2/2.0 (-1)	1,248 (-13%)	8mo	$140,000	$112	44

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: 1.5%
• Equity multiple: 1.06×
• Total profit: $3,014
• Equity at exit: $28,031

10-year hold

• IRR: 11.1%
• Equity multiple: 1.87×
• Total profit: $45,761
• Equity at exit: $16,255

Cash invested: $52,640 (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 99027

• Home prices YoY: -20.5%
• Active inventory: 58
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,259 high
• Mortgage (P&I): −$986
• Tax from tax record: −$195 /mo · $2,342/yr
• Insurance: −$78
• HOA: −$0
• Vacancy / Maint / Mgmt: −$474
• Net cashflow: $525

Break-even live

Break-even rent $1,594

Max offer price $188,000

Occupancy floor 72%

Sensitivity live

Price	-10% $632	-5% $579	+0% $525	+5% $472	+10% $419
Rent	-10% $347	-5% $436	+0% $525	+5% $615	+10% $704
Rate	-1.0pp $620	-0.5pp $573	base $525	+0.5pp $477	+1.0pp $427

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: $47,000
• Closing costs: $5,640
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1806 N Salmon River Ln Spokane Valley, WA	3.0	2.0	1800	$2,395	$1.33	25d	1	0.61mi
1920 N Cavalier Rd Liberty Lake, WA	3.0	2.0	1387	$2,395	$1.73	45d	1	0.64mi
18714 E Augusta Ct Greenacres, WA	3.0	2.5	1412	$1,995	$1.41	45d	1	0.68mi
1420 N Michigan Ln Unit 1 Spokane Valley, WA	3.0	2.5	1476	$2,100	$1.42	45d	1	0.81mi
1840 N Willamette Rd Liberty Lake, WA	3.0	2.5	1569	$2,150	$1.37	16d	1	0.89mi
1806 N Coach Ln Unit 1806 Spokane Valley, WA	3.0	2.5	1501	$2,550	$1.70	25d	1	1.24mi
1115 N Manifold Ln Unit 1117 Spokane Valley, WA	4.0	3.0	1700	$2,300	$1.35	45d	1	1.26mi
1108 N Davis Ln Greenacres, WA	3.0	2.5	1712	$2,195	$1.28	45d	1	1.29mi
17012 E Knox Ln Spokane Valley, WA	3.0	2.0	1430	$2,395	$1.67	16d	1	1.31mi
1317 N Arc St Spokane Valley, WA	3.0	2.0–2.5	1500	$2,248	$1.50	16d	14	1.34mi

Listing history 18 events

1. 2026-05-12
   status Pending 712-char remark

   Show marketing remark (712 chars)

   Investor alert! Opportunity awaits with this double-wide manufactured home offering 3 bedrooms and 2 bathrooms in a convenient location. The home features a functional floor plan with comfortable living space and great potential for updates or rental income. A detached 336 sq ft garage/ shop provides additional storage, workspace, plus parking flexibility. The property includes a backyard with room for outdoor enjoyment, gardening, or future improvements. Ideal for investors, first-time buyers, or those looking to add value. Conveniently located near everyday amenities, making it a practical option for living or investment. Don't miss this chance to bring your vision and make the most of this property.

2. 2026-04-29
   price $188,000 712-char remark

   Show marketing remark (712 chars)

   Investor alert! Opportunity awaits with this double-wide manufactured home offering 3 bedrooms and 2 bathrooms in a convenient location. The home features a functional floor plan with comfortable living space and great potential for updates or rental income. A detached 336 sq ft garage/ shop provides additional storage, workspace, plus parking flexibility. The property includes a backyard with room for outdoor enjoyment, gardening, or future improvements. Ideal for investors, first-time buyers, or those looking to add value. Conveniently located near everyday amenities, making it a practical option for living or investment. Don't miss this chance to bring your vision and make the most of this property.

3. 2026-04-13
   price $193,000 712-char remark

   Show marketing remark (712 chars)

   Investor alert! Opportunity awaits with this double-wide manufactured home offering 3 bedrooms and 2 bathrooms in a convenient location. The home features a functional floor plan with comfortable living space and great potential for updates or rental income. A detached 336 sq ft garage/ shop provides additional storage, workspace, plus parking flexibility. The property includes a backyard with room for outdoor enjoyment, gardening, or future improvements. Ideal for investors, first-time buyers, or those looking to add value. Conveniently located near everyday amenities, making it a practical option for living or investment. Don't miss this chance to bring your vision and make the most of this property.

4. 2026-03-25
   listed $198,000 Active 712-char remark

   Show marketing remark (712 chars)

   Investor alert! Opportunity awaits with this double-wide manufactured home offering 3 bedrooms and 2 bathrooms in a convenient location. The home features a functional floor plan with comfortable living space and great potential for updates or rental income. A detached 336 sq ft garage/ shop provides additional storage, workspace, plus parking flexibility. The property includes a backyard with room for outdoor enjoyment, gardening, or future improvements. Ideal for investors, first-time buyers, or those looking to add value. Conveniently located near everyday amenities, making it a practical option for living or investment. Don't miss this chance to bring your vision and make the most of this property.

5. 2023-07-21
   soldstatus $235,000 Closed 419-char remark

   Show marketing remark (419 chars)

   Remodeled 1973 double-wide on owned lot. Surrounding homes all show pride of ownership. Private backyard with sunken firepit gathering area. All new flooring and kitchen. Huge primary bedroom with walk-in closet and full large bath. Seller paid for and connected to sewer. Large dining and living rooms. OK to build a shop. Owner will carry a short term contract with 20% down and ballooned in 3 years at 6.5% interest.

6. 2023-07-12
   status Pending 419-char remark

   Show marketing remark (419 chars)

   Remodeled 1973 double-wide on owned lot. Surrounding homes all show pride of ownership. Private backyard with sunken firepit gathering area. All new flooring and kitchen. Huge primary bedroom with walk-in closet and full large bath. Seller paid for and connected to sewer. Large dining and living rooms. OK to build a shop. Owner will carry a short term contract with 20% down and ballooned in 3 years at 6.5% interest.

7. 2023-07-11
   listed $235,000 Active 419-char remark

   Show marketing remark (419 chars)

   Remodeled 1973 double-wide on owned lot. Surrounding homes all show pride of ownership. Private backyard with sunken firepit gathering area. All new flooring and kitchen. Huge primary bedroom with walk-in closet and full large bath. Seller paid for and connected to sewer. Large dining and living rooms. OK to build a shop. Owner will carry a short term contract with 20% down and ballooned in 3 years at 6.5% interest.

8. 2022-04-01
   soldstatus $235,000 Sold
9. 2022-03-03
   status Pending
10. 2021-10-28
    listed $250,000 New
11. 2019-12-18
    historical
12. 2019-12-06
    listed $82,500 New
13. 2017-06-26
    soldstatus $71,000
14. 2017-06-19
    soldstatus $71,000
15. 2017-05-23
    listed $74,000
16. 2010-07-27
    soldstatus $75,000
17. 2010-07-27
    soldstatus $50,000
18. 2010-04-08
    listed $78,000

ⓘ 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: $2,342 · $195/mo
• Projected year-2 tax: $2,342 · $195/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 18% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 3/10 Moderate 6 d/yr ≥93°F today · 13 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: $27,113
• − Mortgage interest: −$10,531
• − Property taxes: −$2,342
• − Insurance: −$940
• − Repairs & maintenance: −$2,169
• − Management: −$2,169
• − Depreciation: −$5,469
• Taxable income: $3,492
• Est. tax owed @ 24.0%: −$838
• After-tax cash flow: $5,468/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: 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
• City population: 129,511
• Population (ZIP): 5,878

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 (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Slovak 6% Portuguese 3% Lithuanian 2%
• Foreign-born: 2%

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: ▼ -92.71%
• Current HPI: 360.3438
• 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

+141.0% since first listed

18 events — show timeline

• 2026-05-12 Pending — SPOKANEMLS as Distributed by MLS Grid
• 2026-04-29 Price Changed $188,000 SPOKANEMLS as Distributed by MLS Grid
• 2026-04-13 Price Changed $193,000 SPOKANEMLS as Distributed by MLS Grid
• 2026-03-25 Listed $198,000 SPOKANEMLS as Distributed by MLS Grid
• 2023-07-21 Sold (MLS) $235,000 SPOKANEMLS as Distributed by MLS Grid
• 2023-07-12 Pending — SPOKANEMLS as Distributed by MLS Grid
• 2023-07-11 Listed $235,000 SPOKANEMLS as Distributed by MLS Grid
• 2022-04-01 Sold (MLS) $235,000 SPOKANEMLS as Distributed by MLS Grid
• 2022-03-03 Pending — SPOKANEMLS as Distributed by MLS Grid
• 2021-10-28 Listed $250,000 SPOKANEMLS as Distributed by MLS Grid
• 2019-12-18 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2019-12-06 Listed $82,500 SPOKANEMLS as Distributed by MLS Grid
• 2017-06-26 Sold (MLS) $71,000 SPOKANEMLS as Distributed by MLS Grid
• 2017-06-19 Sold (Public Records) $71,000 Public Records
• 2017-05-23 Listed $74,000 SPOKANEMLS as Distributed by MLS Grid
• 2010-07-27 Sold (Public Records) $50,000 Public Records
• 2010-07-27 Sold (MLS) $75,000 SPOKANEMLS as Distributed by MLS Grid
• 2010-04-08 Listed $78,000 SPOKANEMLS as Distributed by MLS Grid

Property tax history

+7.4%/yr

Latest (2026): $2,342 · +1.8% YoY. Source: county tax records.