1416 N 1st Ave #40 · Pasco, WA 99301

$61,500

3 bd · 1.0 ba · 910 sqft · Manufactured public records · 84 Days on market

Built 1979 $68/sqft · 83% below area

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

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Schools +3.4/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MLS# 291312 Affordable living in the heart of Pasco! This well-maintained 1979 manufactured home offers 910 sq. ft. of efficient living space, featuring 3 bedrooms and 1 full bathroom. Situated on a rented lot in a convenient location near the corner of Court St. and 1st Ave, this home is perfect for those seeking a low-maintenance lifestyle. Recent updates and a functional layout make this a fantastic opportunity for a primary residence or investment. Lot rent conveniently includes water, sewer, and garbage services. Schedule your showing today!

Key facts

• Recent updates
• Convenient location
• Functional layout

Tags

• CONVENIENT LOCATION
• RECENT UPDATES
• FUNCTIONAL LAYOUT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $62k.

Deal economics

• At list price, monthly cash flow is $837 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $62k).
• Recommended offer: $58k (6.0% below list) — sets the bar for market timing.
• Cap rate 22.6% vs local median 3.0% in Pasco — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 79/100 on livability (#104 in WA, #1,999 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: crime D+, schools D-.
• Pasco School District (suburban): math 31% / reading 40% proficiency, ranked #242 of 291 in WA (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.0%/yr); 705 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 981 units permitted in Franklin County in 2024 (517 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $425 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Franklin County population projected at +50% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $7k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $42k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $57,810 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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: 2.60% ✓
• Cap rate: 22.62%
• Cash-on-cash: 58.33%
• DSCR: 3.60
• GRM: 3.2

CMA / ARV

• ARV (median comp): $355,682
• List price: $61,500
• Delta: -82.71%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.99% rent growth · sell at horizon

5-year hold

• IRR: 55.8%
• Equity multiple: 3.43×
• Total profit: $41,759
• Equity at exit: $9,170

10-year hold

• IRR: 60.4%
• Equity multiple: 6.73×
• Total profit: $98,642
• Equity at exit: $5,317

Cash invested: $17,220 (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 99301

• Rents YoY: 2.0%
• Active inventory: 705
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,597 medium
• Mortgage (P&I): −$323
• Tax est. 1.5%: −$77 /mo · $922/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $837

Break-even live

Break-even rent $538

Max offer price $61,500

Occupancy floor 43%

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: $15,375
• Closing costs: $1,845
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
908 W Ruby St Pasco, WA	2.0	1.0	750	$1,210	$1.61	44d	1	0.38mi
1321 W Sylvester St Apt 3 Pasco, WA	2.0	1.0	800	$1,275	$1.59	44d	1	0.82mi
1327 N 24th Ave Pasco, WA	1.0–2.0	1.0	760	$1,332	$1.75	14d	5	1.42mi
921 N 24th Ave Unit 4 Pasco, WA	2.0	1.0	875	$1,500	$1.71	44d	1	1.46mi

Listing history 13 events

1. 2026-06-09
   status $61,500 Pending 84 DOM
2. 2026-06-08
   days on market $61,500 Active 84 DOM
3. 2026-06-07
   days on market $61,500 Active 83 DOM
4. 2026-06-02
   days on market $61,500 Active 78 DOM
5. 2026-06-01
   days on market $61,500 Active 77 DOM
6. 2026-05-31
   days on market $61,500 Active 76 DOM
7. 2026-05-30
   days on market $61,500 Active 75 DOM
8. 2026-04-22
   price $61,500 552-char remark

   Show marketing remark (552 chars)

   MLS# 291312 Affordable living in the heart of Pasco! This well-maintained 1979 manufactured home offers 910 sq. ft. of efficient living space, featuring 3 bedrooms and 1 full bathroom. Situated on a rented lot in a convenient location near the corner of Court St. and 1st Ave, this home is perfect for those seeking a low-maintenance lifestyle. Recent updates and a functional layout make this a fantastic opportunity for a primary residence or investment. Lot rent conveniently includes water, sewer, and garbage services. Schedule your showing today!

9. 2026-03-16
   listed $68,500 Active 552-char remark

   Show marketing remark (552 chars)

   MLS# 291312 Affordable living in the heart of Pasco! This well-maintained 1979 manufactured home offers 910 sq. ft. of efficient living space, featuring 3 bedrooms and 1 full bathroom. Situated on a rented lot in a convenient location near the corner of Court St. and 1st Ave, this home is perfect for those seeking a low-maintenance lifestyle. Recent updates and a functional layout make this a fantastic opportunity for a primary residence or investment. Lot rent conveniently includes water, sewer, and garbage services. Schedule your showing today!

10. 2021-02-26
    soldstatus $42,500
11. 2020-12-01
    listed $49,900
12. 2020-06-02
    soldstatus $14,500
13. 2020-02-11
    listed $14,500

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 15 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,170
• − Mortgage interest: −$3,445
• − Property taxes: −$922
• − Insurance: −$308
• − Repairs & maintenance: −$1,534
• − Management: −$1,534
• − Depreciation: −$1,789
• Taxable income: $9,638
• Est. tax owed @ 24.0%: −$2,313
• After-tax cash flow: $7,731/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: Pasco School District
• NCES district ID: 5306570
• Math proficiency: 31% ▬ 0.00%
• Reading proficiency: 40% ▬ 0.00%
• Median HH income: $54,454
• Composite: 33.78/100
• National rank: #10401
• State rank: #242 of 291 in WA

Livability — Pasco

• Score: 79/100
• State rank: #104
• US rank: #1999

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pasco, WA
• County: Franklin County · 87,044 people
• City population: 87,044
• Metro: Kennewick-Richland, WA
• Population (ZIP): 87,044
• Household income: $87,951
• Rent vs Own: 28.6% rent · 71.4% own
• Severe rent burden: 1556.0

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 108,530 people
• By 2030: 118,705 · +9.4%
• By 2040: 140,053 · +29.0%
• By 2050: 162,360 · +49.6%
• By 2075: 217,667 · +100.6%
• By 2100: 264,533 · +143.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Hispanic / Latino 55% White 37% Two or more races 22% Black 2% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 51%
• Common ancestry: Lithuanian 2% Italian 2% Portuguese 2%
• Foreign-born: 21% · Canada, Vietnam
• Languages at home: 49% English-only · Spanish 47% Russian/Polish/Slavic 2% Other Asian/Pacific 0%

Political lean MEDSL · Franklin

• 2024 margin: Strong R (+22.7) · D 37.4% · R 60.1% · Other 2.4%
• 2008→2024 swing: +1.0pp toward D · 2008: -23.7pp · 2024: -22.7pp
• All cycles: 2024: R+22.7 2020: R+14.5 2016: R+17.1 2012: R+25.2 2008: R+23.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -331.74%
• Current HPI: 284.481
• Rent YoY: ▲ 1.99%
• Metro: Kennewick-Richland, WA
• 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

+324.1% since first listed

6 events — show timeline

• 2026-04-22 Price Changed $61,500 PACMLS
• 2026-03-16 Listed $68,500 PACMLS
• 2021-02-26 Sold (MLS) $42,500 PACMLS
• 2020-12-01 Listed $49,900 PACMLS
• 2020-06-02 Sold (MLS) $14,500 PACMLS
• 2020-02-11 Listed $14,500 PACMLS

Property tax history

+5.7%/yr

Latest (2026): $107 · +3.8% YoY. Source: county tax records.