3314 E 29th Ave · Spokane, WA 99223

$250,000

3 bd · 2.5 ba · 1,210 sqft · SingleFamily public records · 47 Days on market

Built 1911 9,148 sqft lot Est $369k · 32% under

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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 +8.1/30.0
• Schools +4.6/10.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• 1% rule +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks

FINAL PRICE DROP If you are ready to go from tenant to homeowner, or landlord, take a look at all the possibilities this single-family home has to offer. The current primary bedroom has two separate entrances, a private updated bathroom, and mini-kitchen, and can easily be converted to a separate apartment or owner's retreat. Utilize rental income to fund home improvements or development of additional units on the oversized south hill lot. The remaining 2 bed/1 bath portion of the home has a large kitchen and living areas. Ask about the assumable VA loan with an approximate balance of $150,000 at an incredible 2.75% as an additional benefit for a qualified buyer. OFFERED AS IS TO SERIOUS BU

Key facts

• Owner's retreat
• Mini-kitchen
• Separate apartment

Tags

• PRIVATE UPDATED BATHROOM
• MINI-KITCHEN
• SEPARATE APARTMENT
• OWNER'S RETREAT
• OVERSIZED SOUTH HILL LOT
• LARGE KITCHEN

Property features AI

Exterior

• Parking: 2‑space carport; Additional parking — see remarks
• Utilities: High‑speed internet available (Xfinity)
• Home design: Single family residence; One story
• Construction: Shake siding; Composition roof
• Exterior features: Fenced yard with cross fencing; Level, oversized lot; City street frontage; Fencing

Interior

• Kitchen: Free‑standing range; Dishwasher; Refrigerator
• Bedrooms: 3 bedrooms
• Heating & cooling: Natural gas and electric heating; Forced air; Ductless heating; Wall unit cooling
• Interior features: Hot water heating system; In-law floorplan; Utility room
• Laundry & utility: Washer; Dryer

🏷️ Possibly a rental listed for sale. The $250,000 price doesn't fit this home's estimated sale value (~$369,050) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $-242 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $207k (17.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $155k (38.0% below list).
• Recommended offer: $155k (38.0% below list) — sets the bar for 1% rule.
• Cap rate 5.1% vs local median 3.2% in Spokane — 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 80/100 on livability (#93 in WA, #1,822 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime F.
• Spokane School District (urban): math 47% / reading 58% proficiency, ranked #136 of 291 in WA (top 47%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Lincoln Heights Elementary (480 students, 61% FRL); Chase Middle School (712 students, 52% FRL); Ferris High School (1,631 students, 48% FRL) — zoned schools at 54% FRL track the district average.
• Market conditions: Rents flat; 240 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 22y ago; this cycle's ask has dropped $40k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $170k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1911 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $155,071 (38.0% 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 47 days. Have you received any prior offers? Is the seller open to a 38% concession, seller financing, or rate buy-down credit?
3. Built in 1911 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.62% ✗
• Cap rate: 5.13%
• Cash-on-cash: -4.16%
• DSCR: 0.82
• GRM: 13.4

CMA / ARV

• ARV (on-the-fly): $369,050
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3323 E 30th Ave	0.04mi	2/1.0 (-1)	1,130 (-7%)	12mo	$255,000	$226	66
3904 E 26th Ave	0.41mi	3/2.0	1,140 (-6%)	14mo	$301,500	$264	58
3908 S Greystone Ln	0.65mi	2/2.0 (-1)	1,255 (+4%)	2mo	$415,000	$331	55
2919 S Freya St	0.18mi	2/1.0 (-1)	1,100 (-9%)	14mo	$282,000	$256	54
3212 S Myrtle St	0.45mi	3/2.0	1,280 (+6%)	20mo	$336,000	$263	51
3703 S Brighton Ln Ln	0.56mi	2/2.0 (-1)	1,173 (-3%)	15mo	$405,000	$345	49
4007 E 31st Ave	0.44mi	3/2.0	1,389 (+15%)	8mo	$382,900	$276	46
3408 E 22nd Ave	0.44mi	3/2.0	1,376 (+14%)	12mo	$373,000	$271	44
3816 E 23rd Ave	0.50mi	3/2.0	1,330 (+10%)	23mo	$405,000	$305	39
3704 E Ellsworth Ln	0.61mi	2/2.0 (-1)	1,133 (-6%)	21mo	$366,000	$323	37
3518 E Leisure Ln	0.65mi	2/2.0 (-1)	1,074 (-11%)	10mo	$425,000	$396	35
4020 S Greystone Ln	0.74mi	2/2.0 (-1)	1,321 (+9%)	15mo	$430,000	$326	31

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 · 0.75% rent growth · sell at horizon

5-year hold

• IRR: -25.5%
• Equity multiple: 0.15×
• Total profit: $-59,519
• Equity at exit: $37,276

10-year hold

• IRR: -29.0%
• Equity multiple: -0.22×
• Total profit: $-85,729
• Equity at exit: $21,615

Cash invested: $70,000 (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 99223

• Rents YoY: 0.8%
• Active inventory: 240
• Price-to-rent: 13.4×

Monthly cashflow live

• Estimated rent: $1,551 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$52 /mo · $627/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $-242

Break-even live

Break-even rent $1,858

Max offer price $207,181

Occupancy floor —

Sensitivity live

Price	-10% $-101	-5% $-172	+0% $-242	+5% $-313	+10% $-384
Rent	-10% $-365	-5% $-304	+0% $-242	+5% $-181	+10% $-120
Rate	-1.0pp $-116	-0.5pp $-179	base $-242	+0.5pp $-307	+1.0pp $-373

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3128 E 28th Ave Unit 1 Spokane, WA	2.0	1.0	859	$1,230	$1.43	15d	1	0.19mi
3106 E 27th Ave Unit 205 Spokane, WA	2.0	1.0	850	$1,100	$1.29	15d	1	0.23mi
3104 E 27th Ave Apt 203 Spokane, WA	2.0	1.0	850	$1,100	$1.29	15d	1	0.24mi
3221 S Regal St Unit 1 Spokane, WA	2.0	1.0	849	$1,150	$1.35	25d	1	0.41mi
3925 E 32nd Ave Spokane, WA	3.0	2.5	1360	$2,095	$1.54	25d	1	0.42mi
2815 E 27th Ave Unit 1 Spokane, WA	2.0	1.0	900	$1,195	$1.33	25d	1	0.46mi
3025 S Cook St Apt 6 Spokane, WA	2.0	1.0	975	$1,355	$1.39	15d	1	0.59mi
3131 S Cook St Spokane, WA	1.0–2.0	1.0–2.0	875	$1,545	$1.77	23d	3	0.60mi
3250 S Southeast Blvd Spokane, WA	1.0–2.0	1.0–2.0	736	$1,895	$2.57	25d	2	0.73mi
3914 S Regal St #101 Spokane, WA	2.0	1.0	803	$1,295	$1.61	25d	1	0.76mi
1629 E 34th Ave Spokane, WA	2.0	1.0	900	$1,595	$1.77	25d	1	1.21mi
3811 E 12th Ave #3813 Spokane, WA	3.0	2.5	1450	$2,300	$1.59	25d	1	1.21mi
4532 S Donald Ct Unit 4532 Spokane, WA	2.0	1.0	1250	$1,550	$1.24	25d	1	1.22mi
1225 E 29th Ave Spokane, WA	3.0	2.0	1140	$1,595	$1.40	25d	1	1.43mi
1226 E 29th Ave Unit 1226 Spokane, WA	2.0	1.5	1320	$1,395	$1.06	23d	1	1.44mi
5015 S Regal St Spokane, WA	1.0–2.0	1.0–2.0	950	$1,590	$1.67	15d	16	1.45mi
5111 S Regal St Spokane, WA	2.0	2.0	1075	$1,664	$1.55	15d	3	1.46mi
1829 E 14th Ave Spokane, WA	2.0	1.0	1122	$1,900	$1.69	25d	1	1.47mi
1311 E 38th Ave Spokane, WA	3.0	3.0	1500	$1,995	$1.33	45d	1	1.50mi

Listing history 36 events

1. 2026-04-27
   status Pending
2. 2026-04-13
   price $250,000
3. 2026-04-07
   status Active
4. 2026-03-25
   status Pending
5. 2026-02-26
   listed $289,900 Active
6. 2025-10-06
   status Pending
7. 2025-10-06
   historical
8. 2025-09-29
   price $300,000
9. 2025-08-28
   status Active
10. 2025-08-26
    status Pending
11. 2025-08-07
    price $324,900
12. 2025-06-24
    price $329,000
13. 2025-06-05
    price $349,900
14. 2025-05-01
    listed $354,900 Active
15. 2024-09-18
    price $379,000
16. 2024-08-21
    listed $399,000 Active
17. 2018-10-02
    soldstatus $170,000 Sold
18. 2018-10-02
    soldstatus $170,000
19. 2018-09-05
    status Pending
20. 2018-08-29
    listed Pending on Inspection
21. 2018-07-27
    listed $175,000
22. 2008-06-05
    soldstatus $95,900
23. 2008-02-08
    listed $94,900
24. 2007-08-01
    historical
25. 2007-07-30
    listed $140,000
26. 2007-07-28
    historical
27. 2007-03-27
    listed $140,000
28. 2007-01-23
    historical
29. 2006-11-09
    listed $155,000
30. 2006-09-20
    historical
31. 2006-09-20
    listed $162,000
32. 2004-06-30
    soldstatus $103,000
33. 2004-06-25
    soldstatus $103,000
34. 2004-05-17
    listed $100,000
35. 2002-10-28
    soldstatus $89,900
36. 2000-06-22
    soldstatus $22,000

ⓘ 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: $627 · $52/mo
• Projected year-2 tax: $2,450 · $204/mo
• Expected delta: +$1,823/yr (+$152/mo · 290.7%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥92°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 13 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,609
• − Mortgage interest: −$14,004
• − Property taxes: −$627
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,489
• − Management: −$1,489
• − Depreciation: −$7,273
• Taxable loss: −$7,522
• Est. tax savings @ 24.0%: +$1,805
• After-tax cash flow: $-1,103/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: Spokane School District
• NCES district ID: 5308250
• Math proficiency: 47% ▲ 1.00%
• Reading proficiency: 58% ▲ 1.00%
• Median HH income: $43,187
• Composite: 46.1/100
• National rank: #5477
• State rank: #136 of 291 in WA

Livability — Spokane

• Score: 80/100
• State rank: #93
• US rank: #1822

Category grades

Amenities A+ Commute A+ Cost of living B+ 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: Spokane, WA
• County: Spokane County · 496,401 people
• City population: 298,820
• Metro: Spokane-Spokane Valley, WA
• Population (ZIP): 36,094
• Household income: $94,279
• Rent vs Own: 33.2% rent · 66.8% own
• Severe rent burden: 1105.0

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 (79%)
• Race & ethnicity: White 79% Two or more races 8% Hispanic / Latino 6% Black 4% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 4% Slovak 3% Lithuanian 3%
• Foreign-born: 9% · Canada, China, Vietnam
• Languages at home: 90% English-only · Spanish 3% Arabic 2% Russian/Polish/Slavic 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: ▼ -363.75%
• Current HPI: 330.948
• Rent YoY: ▲ 0.75%
• 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

+1036.4% since first listed

36 events — show timeline

• 2026-04-27 Pending — SPOKANEMLS as Distributed by MLS Grid
• 2026-04-13 Price Changed $250,000 SPOKANEMLS as Distributed by MLS Grid
• 2026-04-07 Relisted — SPOKANEMLS as Distributed by MLS Grid
• 2026-03-25 Pending — SPOKANEMLS as Distributed by MLS Grid
• 2026-02-26 Listed $289,900 SPOKANEMLS as Distributed by MLS Grid
• 2025-10-06 Pending — SPOKANEMLS as Distributed by MLS Grid
• 2025-10-06 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2025-09-29 Price Changed $300,000 SPOKANEMLS as Distributed by MLS Grid
• 2025-08-28 Relisted — SPOKANEMLS as Distributed by MLS Grid
• 2025-08-26 Pending — SPOKANEMLS as Distributed by MLS Grid
• 2025-08-07 Price Changed $324,900 SPOKANEMLS as Distributed by MLS Grid
• 2025-06-24 Price Changed $329,000 SPOKANEMLS as Distributed by MLS Grid
• 2025-06-05 Price Changed $349,900 SPOKANEMLS as Distributed by MLS Grid
• 2025-05-01 Listed $354,900 SPOKANEMLS as Distributed by MLS Grid
• 2024-09-18 Price Changed $379,000 SPOKANEMLS as Distributed by MLS Grid
• 2024-08-21 Listed $399,000 SPOKANEMLS as Distributed by MLS Grid
• 2018-10-02 Sold (Public Records) $170,000 Public Records
• 2018-10-02 Sold (MLS) $170,000 SPOKANEMLS as Distributed by MLS Grid
• 2018-09-05 Pending — SPOKANEMLS as Distributed by MLS Grid
• 2018-08-29 Listed — SPOKANEMLS as Distributed by MLS Grid
• 2018-07-27 Listed $175,000 SPOKANEMLS as Distributed by MLS Grid
• 2008-06-05 Sold (MLS) $95,900 SPOKANEMLS as Distributed by MLS Grid
• 2008-02-08 Listed $94,900 SPOKANEMLS as Distributed by MLS Grid
• 2007-08-01 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2007-07-30 Listed $140,000 SPOKANEMLS as Distributed by MLS Grid
• 2007-07-28 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2007-03-27 Listed $140,000 SPOKANEMLS as Distributed by MLS Grid
• 2007-01-23 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2006-11-09 Listed $155,000 SPOKANEMLS as Distributed by MLS Grid
• 2006-09-20 Listed $162,000 SPOKANEMLS as Distributed by MLS Grid
• 2006-09-20 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2004-06-30 Sold (MLS) $103,000 SPOKANEMLS as Distributed by MLS Grid
• 2004-06-25 Sold (Public Records) $103,000 Public Records
• 2004-05-17 Listed $100,000 SPOKANEMLS as Distributed by MLS Grid
• 2002-10-28 Sold (Public Records) $89,900 Public Records
• 2000-06-22 Sold (Public Records) $22,000 Public Records

Property tax history

-6.9%/yr

Latest (2026): $627 · -79.3% YoY. Source: county tax records.