Spokane, WA — Rental Investment Analysis

🔴WEAK— appreciation play only

Cap Rate

2.4%

Below average

Monthly Cash Flow

-$1,371

After all expenses

Price-to-Rent

20.2

Overpriced for rent

DSCR

0.37

Fails

📊 Key Metrics

Median Home Price: $390,875
Average Rent (3BR): $1,800/mo
Price-to-Rent Ratio: 20.2(high)
1% Rule: 0.41%(fails — need 1%+)
Cash-on-Cash Return: -17.5%
Vacancy Rate: 8.0%

📈 Market Strength

Unemployment Rate: 5.2%(+0.9% vs national)
Rent Growth (YoY): +2.9%(national avg)
Population Growth: +2% YoY

Assumptions Used

20% down, 7.000000000000001% rate, 30yr, 8% vacancy, 10% maintenance

Customize these numbers →

Property Tax Rate

0.87%

of assessed value (WA avg)

Median Income

$82,228

household (WA avg)

Rent-to-Income

26.3%

Affordable

Section 8 Max Rent

$1,800/mo

3BR voucher payment

🏛️ WA Investor Climate

Landlord Friendly

5/10

State Income Tax

✅ None

Property Tax

0.87% effective

Population Trend

+2% (3yr)

🏘️ Best Zip Codes in Spokane for Investors

99207

Cap Rate: 4.7%Cash Flow: -$404/mo$281,415

99205

Cap Rate: 4.1%Cash Flow: -$622/mo$323,531

99202

Cap Rate: 3.8%Cash Flow: -$678/mo$314,723

All Zip Codes in Spokane

Zip	Cap Rate	Cash Flow	Home Price	Rent (3BR)	DSCR
99207	4.7%	-$404	$281,415	$1,820/mo	0.73
99205	4.1%	-$622	$323,531	$1,900/mo	0.64
99202	3.8%	-$678	$314,723	$1,760/mo	0.60
99217	3.4%	-$937	$377,575	$1,960/mo	0.53
99201	3.2%	-$881	$329,018	$1,630/mo	0.50
99170	3.1%	-$855	$314,233	$1,540/mo	0.49
99203	2.4%	-$1,650	$491,800	$2,030/mo	0.37
99012	2.2%	-$1,371	$390,875	$1,540/mo	0.34
99204	2.2%	-$1,380	$392,088	$1,540/mo	0.34
99208	2.1%	-$1,652	$464,175	$1,800/mo	0.33
99223	2.1%	-$1,805	$500,270	$1,910/mo	0.32
99218	2.0%	-$1,731	$472,175	$1,770/mo	0.31
99224	1.9%	-$1,952	$520,842	$1,900/mo	0.30