4911 N Florida St #55 · Spokane, WA 99217

$160,000

3 bd · 2.0 ba · 1,248 sqft · Manufactured public records · 39 Days on market

Manufactured home Built 2019

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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).

• Cash flow +15.5/30.0
• ARV discount +7.5/15.0
• Rent growth +4.9/5.0
• DSCR +4.8/10.0
• Schools +4.6/10.0
• Livability +4.0/5.0
• 1% rule +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Light, Bright and ready for you! This Fleetwood 2019 home features 3 large bedrooms and 2 bathrooms. The Primary suite includes a walk-in closet. You'll fall in love with the large laundry room with plenty of storage space, and the spacious kitchen, with breakfast bar, and its own dedicated pantry! The Storage shed is wired for electricity and has lights inside and out. This Manufactured home sits on the north end of the park, with its own driveway, and plenty of parking. Subject to approval by Park Management, Park bills W/ S/G split between all tenants, tenant pays own electric. Tell your Realtor you want to see this beauty before its gone, or call List Agent to schedule a private showing

Key facts

• Walk-in closet
• Wired storage shed
• Plenty of parking

Tags

• WALK-IN CLOSET
• LARGE LAUNDRY ROOM
• DEDICATED PANTRY
• WIRED STORAGE SHED
• OWN DRIVEWAY
• PLENTY OF PARKING

Property features AI

Finance

• Financial info: Land lease: $750/month
• HOA & community: Located in Easy Acres park

Exterior

• Parking: Off-site parking
• Home design: Manufactured home (Fleetwood); Residential property
• Construction: Siding exterior; Flat roof; Skirted foundation
• Exterior features: Level lot; City street frontage

Interior

• Kitchen: Free-Standing Range; Dishwasher; Refrigerator
• Bedrooms: 3 bedrooms
• Heating & cooling: Electric forced air heating; Central air conditioning
• Interior features: Hard surface counters; Skirted and tie-down foundation details

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $160k.

Deal economics

• At list price, monthly cash flow is $65 ($786/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $133k (16.8% below list).
• Recommended offer: $133k (16.8% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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: Regal Elementary (377 students, 87% FRL); Shaw Middle School (764 students, 88% FRL); Rogers High School (1,536 students, 83% FRL) — zoned schools average 86% FRL vs 50% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+9.5%/yr); 211 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $5k 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 39 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $133,177 (16.8% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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?
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: 0.83% ✗
• Cap rate: 6.78%
• Cash-on-cash: 1.75%
• DSCR: 1.08
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $83,616
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4911 N Florida St #58	0.02mi	3/2.0	1,344 (+8%)	14mo	$90,000	$67	75

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -8.6%
• Equity multiple: 0.67×
• Total profit: $-14,772
• Equity at exit: $23,857

10-year hold

• IRR: 6.1%
• Equity multiple: 1.54×
• Total profit: $24,324
• Equity at exit: $13,834

Cash invested: $44,800 (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 99217

• Home prices YoY: -30.7%
• Rents YoY: 9.5%
• Active inventory: 211
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,332 high
• Mortgage (P&I): −$839
• Tax from tax record: −$81 /mo · $971/yr
• Insurance: −$67
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $65

Break-even live

Break-even rent $1,249

Max offer price $160,000

Occupancy floor 90%

Sensitivity live

Price	-10% $156	-5% $111	+0% $65	+5% $20	+10% $-25
Rent	-10% $-40	-5% $13	+0% $65	+5% $118	+10% $171
Rate	-1.0pp $146	-0.5pp $106	base $65	+0.5pp $24	+1.0pp $-18

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4730 N Freya St Spokane, WA	3.0	1.0	1304	$1,900	$1.46	16d	1	0.31mi
2909 E Rockwell Ave Unit 2909 Spokane, WA	2.0	1.0	1008	$1,500	$1.49	23d	1	0.89mi
3015 E Central Ave Apt 1 Spokane, WA	2.0	1.0	736	$1,000	$1.36	26d	1	0.90mi
2506 E Rowan Ave Unit 2508 Spokane, WA	2.0	1.0	760	$1,350	$1.78	26d	1	1.07mi
6229 N Regal St Unit B Spokane, WA	2.0	1.0	822	$1,150	$1.40	26d	1	1.14mi
2420 E Joseph Ave Spokane, WA	3.0	2.5	1268	$1,900	$1.50	26d	1	1.16mi
2414 E Francis Ave Unit 1 Spokane, WA	2.0	1.0	800	$1,200	$1.50	16d	1	1.35mi
1910 E Wellesley Ave Unit 1912 Spokane, WA	2.0	1.0	800	$1,125	$1.41	26d	1	1.41mi

Listing history 17 events

1. 2026-06-23
   days on market $160,000 Active 39 DOM
2. 2026-06-21
   days on market $160,000 Active 38 DOM
3. 2026-06-18
   days on market $160,000 Active 35 DOM
4. 2026-06-17
   days on market $160,000 Active 34 DOM
5. 2026-06-16
   days on market $160,000 Active 33 DOM
6. 2026-06-15
   days on market $160,000 Active 32 DOM
7. 2026-06-14
   days on market $160,000 Active 30 DOM
8. 2026-06-10
   days on market $160,000 Active 27 DOM
9. 2026-06-09
   days on market $160,000 Active 26 DOM
10. 2026-06-08
    days on market $160,000 Active 25 DOM
11. 2026-06-07
    days on market $160,000 Active 24 DOM
12. 2026-06-03
    days on market $160,000 Active 20 DOM
13. 2026-06-02
    days on market $160,000 Active 19 DOM
14. 2026-06-01
    days on market $160,000 Active 18 DOM
15. 2026-05-31
    days on market $160,000 Active 17 DOM
16. 2026-05-31
    days on market $160,000 Active 16 DOM
17. 2026-05-14
    listed $160,000 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: $971 · $81/mo
• Projected year-2 tax: $1,568 · $131/mo
• Expected delta: +$597/yr (+$50/mo · 61.5%)

ⓘ 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 ≥94°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 19 unhealthy d/yr today · 21 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,981
• − Mortgage interest: −$8,962
• − Property taxes: −$971
• − Insurance: −$800
• − Repairs & maintenance: −$1,278
• − Management: −$1,278
• − Depreciation: −$4,655
• Taxable loss: −$1,964
• Est. tax savings @ 24.0%: +$471
• After-tax cash flow: $1,257/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): 21,441
• Household income: $73,620
• Rent vs Own: 35.5% rent · 64.5% own
• Severe rent burden: 630.0

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 10% Hispanic / Latino 8% Asian 4% Pacific Islander 1% Native American 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Portuguese 4% Scotch-Irish 4% Iranian 3%
• Foreign-born: 12% · Canada, Vietnam
• Languages at home: 85% English-only · Russian/Polish/Slavic 6% Spanish 3% Other Asian/Pacific 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: ▼ -152.19%
• Current HPI: 343.0283
• Rent YoY: ▲ 9.52%
• 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

1 event — show timeline

• 2026-05-14 Listed $160,000 SPOKANEMLS as Distributed by MLS Grid

Property tax history

+6.1%/yr

Latest (2026): $971 · +31.2% YoY. Source: county tax records.