Photo of Tom Clark,

Tom Clark Kestell Co.

States: Washington

Counties: Spokane, Stevens, Pend Oreille, Lincoln

Cities and Towns: Spokane, City of Spokane Valley, Medical Lake, Cheney, Newman Lake, Deer Park, Chattaroy, Colbert, Liberty Lake, Otis Orchards, Greenacres, Airway Heights, Fairchild Air Force Base, Reardan, Nine Mile Falls

Licensed Since: 1992 | WA License # 30836

About Tom Clark

I've been a full time Realtor and investor since 1992. I personally own several investment properties and understand return on investment, flip properties, buy and hold strategies as well as buy/fix/flip. Several of my clients over the years have participated in every one of these investment strategies. I prefer to purchase and hold for the long haul for my portfolio.

To learn more about Tom, listen to his interview on The Rental Income Podcast:

How He Paid Off a Few Rentals to Fund His Retirement with Tom Clark (Ep 340)

Market Overview

Spokane and the surrounding area is designated by several sources as being in the top 10 "post COVID" cities to purchase in, live in and/or invest in. Our market has been red hot for most of the past 4 years. Inventory is very low with less than a 3 week supply of homes and rental vacancy rates are less then 1%. We recently were rated as the #1 city in the US for rental rate increases. The eviction mortarium has affected our market but it has also caused a good number of single family rentals to sold. The sales of these rental properties makes the single family home rental market even tighter. The rural feel and lifestyle we experience in the Spokane area makes it desirable for folks fleeing the major coastal cities; especially when they discovered they can live almost anywhere that offers reliable internet service. The motto of Spokane is "Near Nature, Near Perfect". We have lakes, mountains, rivers, deserts and everything in between within a 30-60 minute drive. I believe we do "social distancing" better than almost anywhere.

Investment Price Points

Entry level SFR homes start just under $200,000 but may require some improvements. The average price of single family homes has just surpassed the $400,000 mark. Starting price for a duplex rental is in the $350,000 range Triplexes and Fourplexes are typically $500,000 and above. Monthly rental rates: 1 bedroom are in the $1000/mo range | 2 bedroom are $1200-$1500/month | 3+ bedroom is almost a "name your price" scenario.

Free Report: Demographic and Housing Data on the Spokane Market

Would you like free demographic and housing data on the Spokane market? The report includes information on schools, income, employment, crime, average sale prices, fair market rents and more. You can get reports on the whole market or zero in on a specific zip code.

This report has all the info you need to help you decide if the Spokane market is right for you! Click here to get your free report.

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