3539 Allison Way · Richland, WA 99532

$565,000

4 bd · 3.0 ba · 2,301 sqft · SingleFamily · 61 Days on market

Built 2026 8,276 sqft lot $40/mo HOA · 1% of rent

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Schools +4.6/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +2.3/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks

MLS# 292315 Discover this new construction home by Landmark Homes, offering 2,301 sq ft of versatile living space. Designed with flexibility in mind, this home includes 3 bedrooms plus an upstairs bonus room with its own private bathroom—ideal for a guest retreat, second living area, or private workspace. The main level features a well-planned layout that balances openness with defined living spaces, creating a comfortable environment for both daily living and hosting. Thoughtful design and quality finishes carry throughout the home, delivering a clean, modern look. With completion just around the corner, you can enjoy the benefits of a brand-new home without the long wait. Full lands

Key facts

• Well-planned layout
• Upstairs bonus room
• Private bathroom

Tags

• NEW CONSTRUCTION HOME
• UPSTAIRS BONUS ROOM
• PRIVATE BATHROOM
• WELL-PLANNED LAYOUT
• FULL LANDSCAPING

Property features AI

Finance

• HOA & community: Homeowners association with $40 monthly fee

Exterior

• Parking: Attached 2-car garage; 2 covered parking spaces (2 total)
• Utilities: Public water; Electric on property / electricity connected; Sewer connected; UGS timed irrigation
• Home design: Single-family residence; Site built on owned lot; Under construction; One story
• Construction: Built by Landmark Homes of Washington; Lap siding and concrete exterior; Composition roof; Concrete perimeter foundation; New construction
• Exterior features: Covered patio/porch; Solar panels; Curbs, sidewalks, and street lights in community

Interior

• Kitchen: Dishwasher; Microwave; Range; Oven
• Bedrooms: Master bedroom located downstairs
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms; 1 three-quarter bathroom
• Heating & cooling: Heat pump; Electric cooling; Has heating and cooling
• Interior features: Walk-in closets; Kitchen island; Pantry; Ceiling fans; Master suite on main level; Double-pane windows; Gas fireplace (1)

🏗️ New construction. The $565,000 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $701,201.

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $565k.

Deal economics

• At list price, monthly cash flow is $-2k ($-30k/yr) — negative.
• To cash-flow at today's rent, offer at most $343k (39.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $305k (46.0% below list).
• Recommended offer: $305k (46.0% below list) — sets the bar for 1% rule.
• Cap rate 2.1% vs local median 2.8% in Richland — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 79/100 on livability (#112 in WA, #2,258 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: cost of living C-, amenities F.
• Kennewick School District (urban): math 43% / reading 58% proficiency, ranked #141 of 291 in WA (top 48%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Cottonwood Elementary (455 students, 23% FRL); Desert Hills Middle School (889 students, 29% FRL); Kamiakin High School (1,884 students, 43% FRL) — zoned schools average 32% FRL vs 48% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 1 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,532 units permitted in Benton County in 2024 (389 in 5+ unit buildings).

Forward outlook

• In year one you build about $26k of equity ($5k loan paydown + $21k appreciation (3.0% local appreciation)).
• Benton County population projected at +32% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($531k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $304,826 (46.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 46% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.43% ✗
• Cap rate: 2.05%
• Cash-on-cash: -15.14%
• DSCR: 0.33
• GRM: 19.2

CMA / ARV

• ARV (median comp): $701,201
• List price: $565,000
• Delta: -19.42%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3413 Allison Way	0.00mi	3/2.0 (-1)	2,000 (-13%)	1mo	$730,000	$365	68
5904 S Toro Rd	0.56mi	4/2.5	2,328 (+1%)	4mo	$550,000	$236	67
2871 Savanna Ave	0.48mi	4/2.5	2,499 (+9%)	1mo	$809,000	$324	60
3610 Morningside Pkwy	0.72mi	4/3.0	2,228 (-3%)	2mo	$564,900	$254	60
7505 S Toro Pl	0.70mi	3/3.0 (-1)	2,304 (+0%)	6mo	$525,000	$228	57
10419 Summit View Ct	0.46mi	4/3.5	2,610 (+13%)	9mo	$785,000	$301	47
2883 Savanna Ave	0.50mi	4/3.5	2,615 (+14%)	6mo	$875,000	$335	47
3587 Morningside Pkwy	0.70mi	3/2.5 (-1)	2,463 (+7%)	4mo	$634,000	$257	46
11504 S Bermuda Rd	0.66mi	3/2.0 (-1)	2,500 (+9%)	1mo	$705,000	$282	45
10414 S 952 Pr Pr SE	0.67mi	3/3.0 (-1)	2,592 (+13%)	8mo	$730,000	$282	36
3628 Morningside Pkwy	0.74mi	3/2.5 (-1)	2,083 (-10%)	8mo	$558,343	$268	36
84205 E Sagebrush Rd	0.68mi	4/2.5	2,640 (+15%)	12mo	$830,000	$314	32

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: -6.4%
• Equity multiple: 0.63×
• Total profit: $-73,267
• Equity at exit: $315,290

10-year hold

• IRR: -1.3%
• Equity multiple: 0.80×
• Total profit: $-39,455
• Equity at exit: $485,900

Cash invested: $196,336 (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 99532

• Active inventory: 1
• Price-to-rent: 15.4×

Monthly cashflow live

• Estimated rent: $3,048 medium
• Mortgage (P&I): −$3,677
• Tax est. 1.5%: −$877 /mo · $10,518/yr
• Insurance: −$292
• HOA: −$40
• Vacancy / Maint / Mgmt: −$640
• Net cashflow: $-2,478

Break-even live

Break-even rent $6,185

Max offer price $342,671

Occupancy floor —

Sensitivity live

Price	-10% $-1,993	-5% $-2,235	+0% $-2,478	+5% $-2,720	+10% $-2,962
Rent	-10% $-2,719	-5% $-2,598	+0% $-2,478	+5% $-2,357	+10% $-2,237
Rate	-1.0pp $-2,125	-0.5pp $-2,299	base $-2,478	+0.5pp $-2,659	+1.0pp $-2,844

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: $175,300
• Closing costs: $21,036
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2940 Tarragon Ave Richland, WA	3.0	2.0	1800	$2,999	$1.67	15d	1	0.76mi
2932 Tarragon Ave Richland, WA	3.0	2.0	1900	$3,095	$1.63	15d	1	0.76mi

HOA detail

• Monthly dues: $40 · $480/yr

Listing history 18 events

1. 2026-06-21
   days on market $565,000 Active 61 DOM
2. 2026-06-18
   days on market $565,000 Active 58 DOM
3. 2026-06-17
   days on market $565,000 Active 57 DOM
4. 2026-06-16
   days on market $565,000 Active 56 DOM
5. 2026-06-15
   days on market $565,000 Active 55 DOM
6. 2026-06-14
   days on market $565,000 Active 53 DOM
7. 2026-06-13
   days on market $565,000 Active 52 DOM
8. 2026-06-10
   days on market $565,000 Active 50 DOM
9. 2026-06-09
   days on market $565,000 Active 49 DOM
10. 2026-06-08
    days on market $565,000 Active 48 DOM
11. 2026-06-07
    days on market $565,000 Active 47 DOM
12. 2026-06-05
    days on market $565,000 Active 44 DOM
13. 2026-06-03
    days on market $565,000 Active 43 DOM
14. 2026-06-02
    days on market $565,000 Active 42 DOM
15. 2026-06-01
    days on market $565,000 Active 41 DOM
16. 2026-05-31
    days on market $565,000 Active 40 DOM
17. 2026-05-30
    days on market $565,000 Active 39 DOM
18. 2026-04-21
    listed $565,000 Active 874-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 13 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,579
• − Mortgage interest: −$39,278
• − Property taxes: −$10,518
• − Insurance: −$3,506
• − Repairs & maintenance: −$2,926
• − Management: −$2,926
• − HOA: −$480
• − Depreciation: −$20,399
• Taxable loss: −$43,454
• Est. tax savings @ 24.0%: +$10,429
• After-tax cash flow: $-19,304/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: Kennewick School District
• NCES district ID: 5303930
• Math proficiency: 43% ▼ -1.00%
• Reading proficiency: 58% ▬ 0.00%
• Median HH income: $54,191
• Composite: 45.56/100
• National rank: #5667
• State rank: #141 of 291 in WA

Livability — Richland

• Score: 79/100
• State rank: #112
• US rank: #2258

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Richland, WA

Population outlook (Benton County) Hauer SSP2

• Today (2025): 219,421 people
• By 2030: 233,813 · +6.6%
• By 2040: 262,134 · +19.5%
• By 2050: 290,100 · +32.2%
• By 2075: 363,525 · +65.7%
• By 2100: 418,667 · +90.8%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

1 event — show timeline

• 2026-04-21 Listed $565,000 PACMLS