1516 E Dalke Ave · Spokane, WA 99208

$160,000

2 bd · 1.0 ba · 1,004 sqft · SingleFamily public records · 2 Days on market

Built 1950 6,250 sqft lot Est $264k · 39% under

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Why this score? — see what drove the C- 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 +16.1/30.0
• ARV discount +15.0/15.0
• DSCR +5.0/10.0
• Schools +4.6/10.0
• 1% rule +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor special! This 2-bed, 1-bath fixer-upper is brimming with a ton of opportunity. Over toal 1,400 sq. ft. , a two-car garage, a newer roof, and a full basement with potential for two more bedrooms and a large rec room. Solid foundation, endless potential. Equity awaits the bold! Roll up your sleeves, this is your ticket

Key facts

• 6,250 sq ft lot
• 2 garage spots
• Built 1950

Property features AI

Finance

• Other: Living area 1,412 (public records); Below-grade finished area 706

Exterior

• Parking: Detached garage with alley access; 2-car garage
• Home design: Single-family residence; One-story design; Wood siding; Composition roof
• Construction: Wood siding construction
• Exterior features: Fenced, level yard; City street frontage

Interior

• Bedrooms: 2 bedrooms
• Heating & cooling: Natural gas forced air heating
• Interior features: Full basement with laundry; One fireplace
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $81 ($969/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 $149k (7.0% below list).
• Recommended offer: $149k (7.0% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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: Whitman Elementary (401 students, 85% FRL); Rogers High School (1,536 students, 83% FRL) — zoned schools average 84% FRL vs 50% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 462 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $148,750 (7.0% below list)

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 0.93% ✗
• Cap rate: 6.90%
• Cash-on-cash: 2.16%
• DSCR: 1.10
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $264,052
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1314 E Joseph Ave	0.29mi	2/1.0	957 (-5%)	3mo	$235,000	$246	76
1818 E Bismark Ave	0.28mi	3/1.0 (+1)	952 (-5%)	1mo	$250,000	$263	72
1627 E Nebraska Ave	0.30mi	2/1.0	970 (-3%)	11mo	$170,000	$175	71
6204 N Morton St	0.23mi	3/1.0 (+1)	918 (-9%)	1mo	$175,000	$191	69
1428 E North Ave	0.40mi	3/1.0 (+1)	956 (-5%)	3mo	$275,000	$288	66
2304 E Dalke Ave	0.57mi	2/1.0	1,020 (+2%)	11mo	$237,000	$232	61
1127 E Central Ave	0.24mi	3/1.0 (+1)	900 (-10%)	12mo	$274,100	$305	56
911 E Everett St	0.62mi	2/1.0	1,062 (+6%)	8mo	$253,500	$239	55
6823 N Hamilton St #6823	0.68mi	2/2.0	1,036 (+3%)	12mo	$240,000	$232	48
2324 E Sanson Ave	0.75mi	2/1.0	885 (-12%)	10mo	$250,000	$282	37
551 E Nebraska Ave	0.66mi	2/1.0	858 (-14%)	13mo	$255,000	$297	34
1118 E Olympic Ave	0.75mi	2/1.0	864 (-14%)	12mo	$273,000	$316	32

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 · 0.46% rent growth · sell at horizon

5-year hold

• IRR: -15.7%
• Equity multiple: 0.45×
• Total profit: $-24,477
• Equity at exit: $23,857

10-year hold

• IRR: -12.4%
• Equity multiple: 0.35×
• Total profit: $-29,089
• 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 99208

• Rents YoY: 0.5%
• Active inventory: 462
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,488 high
• Mortgage (P&I): −$839
• Tax from tax record: −$189 /mo · $2,264/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $81

Break-even live

Break-even rent $1,385

Max offer price $160,000

Occupancy floor 90%

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 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
910 E Holyoke Ave Spokane, WA	1.0–2.0	1.0	755	$1,425	$1.89	14d	4	0.50mi
824 E North Ave Unit 824 Spokane, WA	2.0	1.0	770	$1,195	$1.55	23d	1	0.58mi
617 E Houston Ave Unit HH340 Spokane, WA	2.0	1.0	710	$1,100	$1.55	14d	1	0.59mi
6107 N Standard St Spokane, WA	2.0	1.5	850	$2,350	$2.76	23d	1	0.61mi
2414 E Francis Ave Unit 1 Spokane, WA	2.0	1.0	800	$1,200	$1.50	14d	1	0.65mi
6980 N Nevada St Spokane, WA	1.0–2.0	1.0	622	$1,383	$2.22	23d	1	0.68mi
6603 N Standard St Unit 6605 Spokane, WA	2.0	1.0	750	$1,200	$1.60	23d	1	0.70mi
510 E Dalke Ave Spokane, WA	2.0	1.0	1500	$1,595	$1.06	21d	1	0.70mi
2420 E Joseph Ave Spokane, WA	3.0	2.5	1268	$1,900	$1.50	23d	1	0.70mi
1015 E Cozza Dr Unit 14 Spokane, WA	2.0	1.0	902	$1,110	$1.23	23d	1	0.76mi
6203 N Astor St Spokane, WA	2.0	1.0	1100	$1,400	$1.27	14d	1	0.79mi
6203 N Astor St Unit 2 Spokane, WA	2.0	1.5	1100	$1,400	$1.27	21d	1	0.79mi
2506 E Rowan Ave Unit 2508 Spokane, WA	2.0	1.0	760	$1,350	$1.78	23d	1	0.80mi
723 E Sitka Spokane, WA	2.0	2.0	1400	$1,875	$1.34	14d	1	0.81mi
6229 N Regal St Unit B Spokane, WA	2.0	1.0	822	$1,150	$1.40	23d	1	0.92mi
1910 E Wellesley Ave Unit 1912 Spokane, WA	2.0	1.0	800	$1,125	$1.41	23d	1	0.93mi
1011 E Sharpsburg Ave Unit 494 Spokane, WA	2.0	1.0	902	$1,150	$1.27	23d	1	0.96mi
6029 N Mayfair St Unit 7 Spokane, WA	1.0	1.0	725	$1,025	$1.41	14d	1	0.97mi
121 E Wedgewood Ave Spokane, WA	1.0–3.0	1.0–1.5	833	$1,205	$1.45	14d	17	1.02mi
7024 N Colton St Spokane, WA	2.0	2.0	1082	$1,385	$1.28	14d	1	1.03mi
3015 E Central Ave Apt 1 Spokane, WA	2.0	1.0	736	$1,000	$1.36	23d	1	1.05mi
1718 E Lincoln Rd Spokane, WA	1.0–2.0	1.0–2.0	975	$1,795	$1.84	14d	10	1.09mi
2909 E Rockwell Ave Unit 2909 Spokane, WA	2.0	1.0	1008	$1,500	$1.49	21d	1	1.49mi

Listing history 2 events

1. 2026-05-31
   status $160,000 Pending 2 DOM
2. 2026-05-27
   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: $2,264 · $189/mo
• Projected year-2 tax: $2,264 · $189/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $17,850
• − Mortgage interest: −$8,962
• − Property taxes: −$2,264
• − Insurance: −$800
• − Repairs & maintenance: −$1,428
• − Management: −$1,428
• − Depreciation: −$4,655
• Taxable loss: −$1,687
• Est. tax savings @ 24.0%: +$405
• After-tax cash flow: $1,374/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): 58,669
• Household income: $88,599
• Rent vs Own: 33.2% rent · 66.8% own
• Severe rent burden: 1832.0

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 (83%)
• Race & ethnicity: White 83% Two or more races 7% Hispanic / Latino 5% Black 2% Asian 2% Pacific Islander 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 4% Italian 2% Lithuanian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 93% English-only · Spanish 2% 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: ▼ -392.58%
• Current HPI: 324.2299
• Rent YoY: ▲ 0.46%
• 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

• 2026-05-27 Listed $160,000 SPOKANEMLS as Distributed by MLS Grid

Property tax history

+6.4%/yr

Latest (2026): $2,264 · +7.1% YoY. Source: county tax records.