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Welcome Back,

Merry Christmas to all of you who celebrate! I hope you are doing great! A few of you probably weren’t expecting a email today but just in case you wanted to have something to read, today we are back discussing another real estate market. Enjoy!

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Real Estate Investing

Market Snapshot:

Spokane, Washington
The Spokane real estate market continues to grow steadily, with the median home price reaching $380,000, up 1.6% year-over-year. The area is attracting both investors and homebuyers due to its affordability compared to larger metro areas. Active listings are down by 5%, with approximately 1,900 properties currently on the market, creating tighter inventory conditions. Rental demand is strong, supported by a 3.2% rental vacancy rate. However, rising interest rates have tempered the pace of appreciation, making affordability a key challenge for new buyers.

Median Home Price: $380,000
YoY Price Growth: 1.6%
Active Listings: 1,900 (down 5%)

Deal Of The Day:

2-Unit Multifamily in Emerson Garfield
Price: $575,000
Units: 2 (3-Bed, 2-Bath each)
Monthly Rental Income: $4,000
Cap Rate: 6.9%
This multi-family in Emerson Garfield, Spokane’s vibrant mixed-use neighborhood, offers a strong mix of cash flow and long-term appreciation potential. With its proximity to downtown Spokane, parks, and restaurants, the property is highly attractive to renters. Investors can expect steady demand and a solid annual rental income of $48,000.

Deal Rating: 6/10

This deal doesn’t show many signs of significant appreciation in the upcoming years and alongside this the rents in the area are significantly lower than the properties price in comparison to other markets making it challenging to find cash flow.

Real Estate Tip:

Investment Strategy:

Partner with a Private Lender
If securing traditional financing is challenging, partnering with private lenders can provide flexibility. A private lender may fund up to 80% of a property’s value at a slightly higher interest rate, but with fewer restrictions. For example, if you’re purchasing a $400,000 property, a private lender might cover $320,000, requiring only $80,000 in equity from you. This strategy is especially useful for investors looking to close quickly or buy properties needing significant repairs.

Current Interest Rates:

Spokane, Washington
30-Year Fixed Residential: 7.1%
15-Year Fixed Residential: 6.2%
Commercial Rates: Starting at 6.6%
Interest rates in Spokane are on par with national averages, making creative financing options or seller financing attractive alternatives for buyers seeking to maximize cash flow.

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How to Profit from Spokane’s Real Estate Market

Spokane offers a blend of affordability and strong rental demand, making it a lucrative market for investors. As larger cities like Seattle become increasingly expensive, Spokane has emerged as a top choice for professionals seeking affordable living. Properties in neighborhoods such as Kendall Yards or South Hill are particularly appealing due to their proximity to amenities and job centers. Investors can capitalize on Spokane’s tight rental market, with vacancy rates near 3.2%, ensuring steady cash flow. For long-term growth, the city’s population expansion and infrastructure upgrades will likely support consistent property value appreciation.

Economic Conditions

Spokane’s unemployment rate stands at 4.3%, supported by growth in healthcare, education, and tech industries. The city has benefited from $1.2 billion in recent infrastructure investments, including new public transit lines and highway extensions. These improvements are driving population growth, up 2.8% in 2023, further fueling demand for housing.

Market Rating: 6/10

Market shows good potential but at it’s current standing there is very little appreciation and rents are quite low compared to the prices in the area making it challenging to find a cash flowing property.

Key Takeaways:

• Spokane’s median home price is $380,000, with a 1.6% increase year-over-year.

• A 2-unit multifamily in Emerson Garfield priced at $575,000 offers a 6.9% cap rate and $4,000/month rental income.

• Properties in walkable neighborhoods can demand 15% higher rents and have better tenant retention.

• Spokane’s economy is supported by $1.2 billion in infrastructure upgrades and 4.3% unemployment.

That’s All For Today

I hope you enjoyed today’s issue. If you have any questions regarding today’s issue or future issues feel free to ask. Come back tomorrow for information on how to grow your income and wealth. I hope to see you.

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