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Values up 5.5%, Yield at 9.2%
Updated today
Your Investment Paths
Turnkey Rental
This property presents a solid rental opportunity in the Spokane market. Based on local trends, you can expect a monthly income ranging from $1,701 to $1,867, making it a reliable choice for steady rental returns. With an estimated gross yield of approximately 8.36%, this asset offers attractive cash flow potential. It aligns well with similar nearby homes, positioning it as a strong candidate for your investment portfolio in this neighborhood.
More about this home
Neighborhood Assessment
This East Spokane property sits in the Bemiss neighborhood, a modest residential area with established infrastructure and decent school proximity. The immediate area shows stable mid-range pricing with comparable homes ranging from $215K to $323K. However, the neighborhood faces an extreme air quality risk (score 10/10), with 19-21 bad air days annually and trending worse over the next 30 years. This is a significant long-term concern for residents and could impact buyer appeal and property values.
Market Activity
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Rental Income
$21K
Yield
8.4%
Year 1 Estimates
Fix-and-Flip
Modernizing your home significantly boosts value, lifting price per square foot from $248 to $287. This 15.5% increase demonstrates how fresh finishes attract buyers, raising your potential sell price to between $236,000 and $261,000. Upgrades offer a fantastic lifestyle boost and help your property stand out. Rent potential also climbs to $2,086 monthly, making this a rewarding move for long-term investors or homeowners wanting a refreshed, modern living space.
Value Add
$34K
Post Typical Renovation
Buy-Rehab-Rent
This property offers solid BRR potential with a post-renovation value estimated between $236,000 and $261,000. Targeted updates could yield a meaningful 15% increase in price per square foot, positioning the home well within current market standards. With projected monthly rental income of $1,901, the asset delivers an attractive 9.2% yield. This performance suggests a reliable long-term hold, provided renovation costs are tightly controlled to maximize the spread and ensure immediate equity capture.
Rental Income
$23K
Yield
9.2%
Year 1 Estimates, Post Typical Renovation
Estimated value
$256K
$8K below comp median
Comparative Market Analysis
$118K – $294K
~201 days to sell
Based on 8 comps
2217 E Longfellow Ave, Spokane Investment Report: Flip & Rental Analysis · Frontflip