3928 E Lane Park Rd #30 · Mead, WA 99021

$53,000

2 bd · 1.0 ba · 924 sqft · Manufactured public records · 78 Days on market

Built 1974 $57/sqft · 53% below area ↓ 25% since listing

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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 +6.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Back on market! Buyer lending failed. Seller Financing available; call for terms. Cozy and charming home in Evergreen Mobile Home Park! Situated on a corner lot this home features a covered parking space, a large deck and beams of sunlight through the trees. Step inside to a comfortable living room that flows right to the kitchen. Lots of natural light from the garden window in the kitchen and enjoy stainless-steel appliances including the electric range and refrigerator. Plenty of space in the Primary Bedroom to enjoy hobbies or use as a family room, as well as a second bedroom at the back of the home. The bathroom has an updated walk-in shower, as well as laundry services all served by a tankless hot water system. Extra storage space in the large storage shed just off the deck. Owner Occupied Park that is minutes from restaurants, shopping, coffee, and more. Come and take look at see all the features this home has to offer!

Key facts

• Large deck
• Natural light
• Parking

Tags

• COVERED PARKING SPACE
• LARGE DECK
• NATURAL LIGHT
• STAINLESS STEEL APPLIANCES
• UPDATED WALK-IN SHOWER
• TANKLESS HOT WATER SYSTEM

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $53k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $53k).
• Recommended offer: $50k (6.0% below list) — sets the bar for market timing.
• Cap rate 37.0% vs local median 2.3% in Mead — 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 63/100 on livability (#388 in WA) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, schools B+; Watch: amenities F, commute F.
• Mead School District (suburban): math 63% / reading 72% proficiency, ranked #23 of 291 in WA (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 91 active listings in the ZIP; 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 $366 of loan paydown is wiped out by about $2k 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 $15k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($50k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 4y ago; this cycle's ask has dropped $7k (12%) 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 $49,820 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 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 1974 — 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. 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: 4.03% ✓
• Cap rate: 37.02%
• Cash-on-cash: 109.76%
• DSCR: 5.88
• GRM: 2.1

CMA / ARV

• ARV (median comp): $117,208
• List price: $53,000
• Delta: -54.78%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3928 E Lane Park #14 Rd	0.01mi	3/2.0 (+1)	924 (0%)	11mo	$97,900	$106	81
14615 N Cuba St	0.27mi	3/1.0 (+1)	924 (0%)	2mo	$185,000	$200	81
3928 E Lane Park Rd #34	0.03mi	2/2.0	924 (0%)	23mo	$65,900	$71	75
4202 E Lane Park Rd #2	0.19mi	2/1.0	980 (+6%)	8mo	$65,000	$66	74
4202 E Lane Park Rd #20	0.19mi	2/1.0	947 (+2%)	21mo	$120,000	$127	70
14711 N Shenandoah Forest Ln	0.42mi	2/2.0	924 (0%)	9mo	$106,200	$115	69
15010 N Shenandoah Forest Ln	0.39mi	2/2.0	980 (+6%)	8mo	$75,000	$77	62
14715 N Surrey Ln	0.34mi	2/2.0	980 (+6%)	10mo	$114,000	$116	61

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: —
• Equity multiple: 6.25×
• Total profit: $77,868
• Equity at exit: $7,902

10-year hold

• IRR: —
• Equity multiple: 13.07×
• Total profit: $179,157
• Equity at exit: $4,582

Cash invested: $14,840 (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 99021

• Home prices YoY: -18.1%
• Active inventory: 91
• Price-to-rent: 2.1×

Monthly cashflow live

• Estimated rent: $2,133 medium
• Mortgage (P&I): −$278
• Tax from tax record: −$28 /mo · $336/yr
• Insurance: −$22
• HOA: −$0
• Vacancy / Maint / Mgmt: −$448
• Net cashflow: $1,357

Break-even live

Break-even rent $415

Max offer price $53,000

Occupancy floor 31%

Sensitivity live

Price	-10% $1,387	-5% $1,372	+0% $1,357	+5% $1,342	+10% $1,327
Rent	-10% $1,189	-5% $1,273	+0% $1,357	+5% $1,442	+10% $1,526
Rate	-1.0pp $1,384	-0.5pp $1,371	base $1,357	+0.5pp $1,344	+1.0pp $1,330

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: $13,250
• Closing costs: $1,590
• Reserves months: —
• Total cash needed: —

Listing history 48 events

1. 2026-06-18
   days on market $53,000 Active 78 DOM
2. 2026-06-17
   days on market $53,000 Active 77 DOM
3. 2026-06-16
   days on market $53,000 Active 76 DOM
4. 2026-06-15
   days on market $53,000 Active 75 DOM
5. 2026-06-14
   days on market $53,000 Active 73 DOM
6. 2026-06-13
   days on market $53,000 Active 72 DOM
7. 2026-06-10
   days on market $53,000 Active 70 DOM
8. 2026-06-09
   days on market $53,000 Active 69 DOM
9. 2026-06-08
   days on market $53,000 Active 68 DOM
10. 2026-06-07
    days on market $53,000 Active 67 DOM
11. 2026-06-03
    days on market $53,000 Active 63 DOM
12. 2026-06-02
    days on market $53,000 Active 62 DOM
13. 2026-06-01
    days on market $53,000 Active 61 DOM
14. 2026-05-31
    days on market $53,000 Active 60 DOM
15. 2026-05-31
    pricedays on market $53,000 Active 59 DOM
16. 2026-04-16
    price $56,000 939-char remark

    Show marketing remark (939 chars)

    Back on market! Buyer lending failed. Seller Financing available; call for terms. Cozy and charming home in Evergreen Mobile Home Park! Situated on a corner lot this home features a covered parking space, a large deck and beams of sunlight through the trees. Step inside to a comfortable living room that flows right to the kitchen. Lots of natural light from the garden window in the kitchen and enjoy stainless-steel appliances including the electric range and refrigerator. Plenty of space in the Primary Bedroom to enjoy hobbies or use as a family room, as well as a second bedroom at the back of the home. The bathroom has an updated walk-in shower, as well as laundry services all served by a tankless hot water system. Extra storage space in the large storage shed just off the deck. Owner Occupied Park that is minutes from restaurants, shopping, coffee, and more. Come and take look at see all the features this home has to offer!

17. 2026-04-01
    listed $59,900 Active 939-char remark

    Show marketing remark (939 chars)

    Back on market! Buyer lending failed. Seller Financing available; call for terms. Cozy and charming home in Evergreen Mobile Home Park! Situated on a corner lot this home features a covered parking space, a large deck and beams of sunlight through the trees. Step inside to a comfortable living room that flows right to the kitchen. Lots of natural light from the garden window in the kitchen and enjoy stainless-steel appliances including the electric range and refrigerator. Plenty of space in the Primary Bedroom to enjoy hobbies or use as a family room, as well as a second bedroom at the back of the home. The bathroom has an updated walk-in shower, as well as laundry services all served by a tankless hot water system. Extra storage space in the large storage shed just off the deck. Owner Occupied Park that is minutes from restaurants, shopping, coffee, and more. Come and take look at see all the features this home has to offer!

18. 2026-04-01
    historical

    Show marketing remark (939 chars)

    Back on market! Buyer lending failed. Seller Financing available; call for terms. Cozy and charming home in Evergreen Mobile Home Park! Situated on a corner lot this home features a covered parking space, a large deck and beams of sunlight through the trees. Step inside to a comfortable living room that flows right to the kitchen. Lots of natural light from the garden window in the kitchen and enjoy stainless-steel appliances including the electric range and refrigerator. Plenty of space in the Primary Bedroom to enjoy hobbies or use as a family room, as well as a second bedroom at the back of the home. The bathroom has an updated walk-in shower, as well as laundry services all served by a tankless hot water system. Extra storage space in the large storage shed just off the deck. Owner Occupied Park that is minutes from restaurants, shopping, coffee, and more. Come and take look at see all the features this home has to offer!

19. 2026-03-09
    status Active
20. 2026-03-04
    status Pending
21. 2025-12-01
    listed $59,900 Active
22. 2025-11-30
    historical
23. 2025-08-08
    price $59,900
24. 2025-07-15
    status Active
25. 2025-07-03
    status Pending
26. 2025-06-03
    status Active
27. 2025-04-12
    status Pending
28. 2025-04-04
    listed $62,500 Active
29. 2025-04-01
    historical
30. 2025-03-08
    listed $62,500 Active
31. 2025-03-07
    historical
32. 2024-12-03
    listed $62,500 Active
33. 2024-12-02
    historical
34. 2024-09-19
    listed $62,500 Active
35. 2024-09-19
    historical
36. 2024-07-25
    listed $69,950 Active
37. 2024-07-25
    historical
38. 2024-06-13
    listed $69,950 Active
39. 2024-06-13
    historical
40. 2024-06-12
    price $69,950
41. 2024-05-20
    price $74,900
42. 2024-04-18
    price $78,500
43. 2024-03-18
    listed $82,000 Active
44. 2022-09-06
    soldstatus $53,000 Closed
45. 2022-08-17
    status Pending
46. 2022-08-08
    price $63,000
47. 2022-08-05
    price $70,000
48. 2022-08-03
    listed $75,000 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: $336 · $28/mo
• Projected year-2 tax: $519 · $43/mo
• Expected delta: +$183/yr (+$15/mo · 54.5%)

ⓘ 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 · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 17 unhealthy d/yr today · 20 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,600
• − Mortgage interest: −$2,969
• − Property taxes: −$336
• − Insurance: −$265
• − Repairs & maintenance: −$2,048
• − Management: −$2,048
• − Depreciation: −$1,542
• Taxable income: $16,392
• Est. tax owed @ 24.0%: −$3,934
• After-tax cash flow: $12,354/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: Mead School District
• NCES district ID: 5304920
• Math proficiency: 63% ▲ 1.00%
• Reading proficiency: 72% ▲ 1.00%
• Median HH income: $64,176
• Composite: 59.93/100
• National rank: #1811
• State rank: #23 of 291 in WA

Livability — Mead

• Score: 63/100
• State rank: #388
• US rank: #15310

Category grades

Amenities F Commute F Cost of living C Crime C Employment B Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mead, WA
• Population (ZIP): 9,226

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 7% Two or more races 5% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 5% Portuguese 5% Scottish 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Russian/Polish/Slavic 1% Spanish 1% Tagalog/Filipino 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: ▼ -78.33%
• Current HPI: 354.3985
• 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

-25.3% since first listed

33 events — show timeline

• 2026-04-16 Price Changed $56,000 SPOKANEMLS as Distributed by MLS Grid
• 2026-04-01 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2026-04-01 Listed $59,900 SPOKANEMLS as Distributed by MLS Grid
• 2026-03-09 Relisted — SPOKANEMLS as Distributed by MLS Grid
• 2026-03-04 Pending — SPOKANEMLS as Distributed by MLS Grid
• 2025-12-01 Listed $59,900 SPOKANEMLS as Distributed by MLS Grid
• 2025-11-30 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2025-08-08 Price Changed $59,900 SPOKANEMLS as Distributed by MLS Grid
• 2025-07-15 Relisted — SPOKANEMLS as Distributed by MLS Grid
• 2025-07-03 Pending — SPOKANEMLS as Distributed by MLS Grid
• 2025-06-03 Relisted — SPOKANEMLS as Distributed by MLS Grid
• 2025-04-12 Pending — SPOKANEMLS as Distributed by MLS Grid
• 2025-04-04 Listed $62,500 SPOKANEMLS as Distributed by MLS Grid
• 2025-04-01 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2025-03-08 Listed $62,500 SPOKANEMLS as Distributed by MLS Grid
• 2025-03-07 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2024-12-03 Listed $62,500 SPOKANEMLS as Distributed by MLS Grid
• 2024-12-02 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2024-09-19 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2024-09-19 Listed $62,500 SPOKANEMLS as Distributed by MLS Grid
• 2024-07-25 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2024-07-25 Listed $69,950 SPOKANEMLS as Distributed by MLS Grid
• 2024-06-13 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2024-06-13 Listed $69,950 SPOKANEMLS as Distributed by MLS Grid
• 2024-06-12 Price Changed $69,950 SPOKANEMLS as Distributed by MLS Grid
• 2024-05-20 Price Changed $74,900 SPOKANEMLS as Distributed by MLS Grid
• 2024-04-18 Price Changed $78,500 SPOKANEMLS as Distributed by MLS Grid
• 2024-03-18 Listed $82,000 SPOKANEMLS as Distributed by MLS Grid
• 2022-09-06 Sold (MLS) $53,000 SPOKANEMLS as Distributed by MLS Grid
• 2022-08-17 Pending — SPOKANEMLS as Distributed by MLS Grid
• 2022-08-08 Price Changed $63,000 SPOKANEMLS as Distributed by MLS Grid
• 2022-08-05 Price Changed $70,000 SPOKANEMLS as Distributed by MLS Grid
• 2022-08-03 Listed $75,000 SPOKANEMLS as Distributed by MLS Grid

Property tax history

+13.8%/yr

Latest (2026): $336 · -7.3% YoY. Source: county tax records.