11920 E Mansfield Ave #109 · Spokane Valley, WA 99206

$45,000

2 bd · 1.0 ba · 924 sqft · Manufactured public records · 73 Days on market

Built 1979

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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 +4.3/10.0
• Livability +4.2/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Well maintained 2 bed, 2 bath single-wide home in Pinecroft Mobile Home Park with 924 sq ft of comfortable living space. This home offers a functional layout with spacious living area, open kitchen, and nicely sized bedrooms. Primary suite features private bath. Recently replaced roof and fresh paint throughout add to the home’s appeal and move-in ready condition. Located in Spokane Valley with convenient access to shopping, dining, and easy access to freeway. A great opportunity for affordable living in a central Valley location!

Key facts

• Fresh paint
• Spacious living area
• Private bath

Tags

• FUNCTIONAL LAYOUT
• SPACIOUS LIVING AREA
• OPEN KITCHEN
• PRIVATE BATH
• RECENTLY REPLACED ROOF
• FRESH PAINT

Property features AI

Finance

• Other: Zoned M
• HOA & community: Park lot rent (land lease) $675

Exterior

• Parking: Off-site parking
• Home design: Manufactured home (WSTB); Residential property
• Construction: Steel frame construction; Composition roof; Manufactured house structure
• Exterior features: Level lot; Private and paved road access; Located in Pinecroft mobile home park

Interior

• Bedrooms: 2 bedrooms
• Heating & cooling: Baseboard heating
• Interior features: No basement; Tie down foundation

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $45k.

Deal economics

• At list price, monthly cash flow is $817 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $42k (6.0% below list) — sets the bar for market timing.
• Cap rate 28.1% 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: Trent School (496 students, 92% FRL); East Valley Middle School (435 students, 71% FRL); East Valley High School (957 students, 58% FRL) — zoned schools average 74% FRL vs 45% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.4%/yr); 305 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $311 of loan paydown is wiped out by about $1k 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 $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($42k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $42,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — 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. 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 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?
7. 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.
8. 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.
9. 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: 3.04% ✓
• Cap rate: 28.08%
• Cash-on-cash: 77.82%
• DSCR: 4.46
• GRM: 2.7

CMA / ARV

• ARV (on-the-fly): $105,336
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11920 E Mansfield Ave #109	0.00mi	2/2.0	924 (0%)	0mo	$45,000	$49	96
11920 E Mansfield Ave #62	0.03mi	2/1.0	935 (+1%)	11mo	$53,500	$57	87
11920 E Mansfield Ave #104	0.00mi	2/2.0	944 (+2%)	12mo	$145,000	$154	82
11920 E Mansfield Ave #33	0.00mi	2/2.0	960 (+4%)	13mo	$138,600	$144	78
11920 E Mansfield Ave #71	0.00mi	2/1.0	792 (-14%)	22mo	$90,000	$114	58
11920 E Mansfield Ave #72	0.00mi	2/1.0	792 (-14%)	22mo	$90,000	$114	58
11303 E Jackson Ave #40	0.63mi	2/2.0	988 (+7%)	6mo	$134,290	$136	50

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: 77.2%
• Equity multiple: 4.49×
• Total profit: $43,975
• Equity at exit: $6,710

10-year hold

• IRR: 80.7%
• Equity multiple: 9.11×
• Total profit: $102,159
• Equity at exit: $3,891

Cash invested: $12,600 (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: 305
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,370 high
• Mortgage (P&I): −$236
• Tax from tax record: −$11 /mo · $127/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $817

Break-even live

Break-even rent $336

Max offer price $45,000

Occupancy floor 35%

Sensitivity live

Price	-10% $843	-5% $830	+0% $817	+5% $804	+10% $792
Rent	-10% $709	-5% $763	+0% $817	+5% $871	+10% $925
Rate	-1.0pp $840	-0.5pp $829	base $817	+0.5pp $805	+1.0pp $794

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: $11,250
• Closing costs: $1,350
• 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	16d	5	0.07mi
11901 E Mansfield Ave Spokane Valley, WA	1.0	1.0	574	$1,350	$2.35	46d	1	0.11mi
2605 N Robie Rd Spokane Valley, WA	2.0–3.0	2.0	1136	$1,052	$0.93	46d	1	0.23mi
2405 Cherry St Apt 6 Spokane Valley, WA	2.0	1.0	750	$1,375	$1.83	23d	1	0.24mi
2405 N Cherry St Spokane Valley, WA	1.0–2.0	1.0–2.0	836	$1,450	$1.73	16d	4	0.24mi
12422 E Mansfield Ave Spokane Valley, WA	2.0	1.0	786	$1,330	$1.69	16d	5	0.28mi
12423 E Mansfield Ave Spokane Valley, WA	1.0–2.0	1.0–2.0	823	$1,535	$1.87	16d	9	0.28mi
2301 N Wilbur Rd Spokane Valley, WA	1.0–2.0	1.0–2.0	837	$1,450	$1.73	46d	4	0.30mi
2107 N Houk Rd #7 Spokane Valley, WA	2.0	1.5	932	$1,400	$1.50	46d	1	0.31mi
1723 N Union Rd Spokane Valley, WA	1.0–2.0	1.0–2.0	818	$1,505	$1.84	16d	5	0.31mi
2115 N Houk Rd Unit C-03 Spokane Valley, WA	2.0	1.0	800	$1,275	$1.59	46d	1	0.32mi
2115 N Houk Rd Spokane Valley, WA	2.0	1.0	760	$1,272	$1.67	16d	2	0.32mi
2111 N Houk Rd Spokane Valley, WA	2.0	1.5	932	$1,345	$1.44	46d	1	0.33mi
2612 N Pines Rd Unit 37 Spokane Valley, WA	2.0	2.0	966	$1,325	$1.37	16d	1	0.34mi
2612 N Pines Rd Unit 12 Spokane Valley, WA	2.0	1.0	914	$1,225	$1.34	46d	1	0.35mi
2705 N Pines Rd Unit 03 Spokane Valley, WA	2.0	1.0	840	$1,245	$1.48	46d	1	0.36mi
2705 N Pines Rd Spokane Valley, WA	2.0	1.0	840	$1,165	$1.39	46d	1	0.36mi
2212 N Houk Rd Unit 2210 Spokane Valley, WA	2.0	1.0	950	$1,195	$1.26	46d	1	0.37mi
2212 N Houk Rd Spokane Valley, WA	2.0	1.0	950	$1,295	$1.36	16d	1	0.37mi
2212 N Houk Rd Unit 4 Spokane Valley, WA	2.0	1.0	950	$1,395	$1.47	25d	1	0.37mi
12820 E Mansfield Ave Apt 50 Spokane Valley, WA	1.0	1.0	689	$1,165	$1.69	16d	1	0.38mi
12820 E Mansfield Ave Apt 96 Spokane Valley, WA	2.0	2.0	956	$1,425	$1.49	16d	1	0.38mi
12820 E Mansfield Ave Unit 115 Spokane Valley, WA	2.0	1.0	857	$1,275	$1.49	46d	1	0.38mi
12820 E Mansfield Ave Apt 148 Spokane Valley, WA	2.0	1.0	918	$1,350	$1.47	16d	1	0.38mi
2721 N Cherry St Spokane Valley, WA	2.0–3.0	2.0	1152	$990	$0.86	16d	1	0.38mi
2718 N Bowdish Rd Spokane Valley, WA	2.0	1.0	844	$1,200	$1.42	16d	4	0.42mi
12202 E Maxwell Ave Spokane Valley, WA	2.0	2.0	1010	$1,444	$1.43	16d	3	0.49mi
2820 N Cherry St Spokane Valley, WA	2.0–3.0	1.0–2.0	963	$1,417	$1.47	16d	4	0.49mi
12820 E Mansfield Ave Unit 101 Spokane Valley, WA	2.0	1.0	857	$1,350	$1.58	46d	1	0.50mi
12925 E Mansfield Ave Spokane Valley, WA	1.0–3.0	1.0–2.0	897	$1,492	$1.66	16d	33	0.59mi
11813 E Broadway Ave Spokane Valley, WA	3.0	1.0–2.0	918	$1,616	$1.76	16d	26	0.80mi
13303 E Mission Ave Spokane Valley, WA	1.0–3.0	1.0–2.0	974	$1,638	$1.68	16d	14	0.85mi
12623 E Broadway Ave Spokane Valley, WA	1.0–3.0	1.0–2.0	952	$1,530	$1.61	16d	9	0.88mi
13310 E Mission Ave Unit 73 Spokane Valley, WA	1.0	1.0	660	$1,010	$1.53	46d	1	0.89mi
13310 E Mission Ave Apt 156 Spokane Valley, WA	2.0	1.0	902	$1,150	$1.27	46d	1	0.91mi
13310 E Mission Ave Unit 44 Spokane Valley, WA	2.0	1.0	902	$1,110	$1.23	46d	1	0.91mi
13310 E Mission Ave Apt 30 Spokane Valley, WA	2.0	1.0	902	$1,165	$1.29	46d	1	0.91mi
13310 E Mission Ave Unit 187 Spokane Valley, WA	1.0	1.0	660	$1,050	$1.59	46d	1	0.91mi
13320 E Mission Ave Unit 314 Spokane Valley, WA	1.0	1.0	660	$1,010	$1.53	16d	1	0.98mi
13320 E Mission Ave Unit 219 Spokane Valley, WA	1.0	1.0	660	$1,065	$1.61	25d	1	0.98mi

Listing history 3 events

1. 2026-05-19
   status Active
2. 2026-04-26
   status Pending
3. 2026-02-18
   listed $45,000 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: $127 · $11/mo
• Projected year-2 tax: $441 · $37/mo
• Expected delta: +$314/yr (+$26/mo · 248.1%)

ⓘ 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: $16,441
• − Mortgage interest: −$2,521
• − Property taxes: −$127
• − Insurance: −$225
• − Repairs & maintenance: −$1,315
• − Management: −$1,315
• − Depreciation: −$1,309
• Taxable income: $9,629
• Est. tax owed @ 24.0%: −$2,311
• After-tax cash flow: $7,494/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
• 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

3 events — show timeline

• 2026-05-19 Relisted — SPOKANEMLS as Distributed by MLS Grid
• 2026-04-26 Pending — SPOKANEMLS as Distributed by MLS Grid
• 2026-02-18 Listed $45,000 SPOKANEMLS as Distributed by MLS Grid

Property tax history

+44.9%/yr

Latest (2026): $127 · +18.1% YoY. Source: county tax records.