309 E 2nd Ave · Kennewick, WA 99336

$349,900

4 bd · 2.0 ba · 2,076 sqft · SingleFamily public records · 36 Days on market

Built 1945 7,405 sqft lot Est $361k · at est.

---

Why this score? — see what drove the C- 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 +19.5/30.0
• ARV discount +8.9/15.0
• DSCR +6.2/10.0
• 1% rule +4.6/10.0
• Schools +4.6/10.0
• Livability +3.9/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for a great rental property or a large first home? Pick up your tools and make your move now! At this price, this opportunity won't last long. This house is set up on a spacious lot; it is totally fenced and a shed is included in the back yard. With 4 bedrooms this house has a ton of space for living and two full baths. It also has a unique outdoor space which extends the living area to a private patio/court yard in the back. This would be a great rental or a great home. This is your open invitation bring your creative touch; just consider the possibilities. .. with a little love, this home can shine again! Buyer to verify all information. This property may qualify for Seller Financing (Vendee)

Key facts

• Formal dining
• Great layout
• Bonus rooms

Tags

• PRIVATE COURTYARD
• BONUS ROOMS
• FORMAL DINING
• GREAT LAYOUT

Property features AI

Exterior

• Parking: No garage
• Home design: Single-family residence, site-built on owned lot; One-level home (1 story)
• Construction: New construction
• Exterior features: Lot is approximately 0.17 acres (7,405 sq ft); Residential zoning; Subdivision: OWENS ADDN

Interior

• Bathrooms: 2 full bathrooms
• Interior features: No basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $398 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $335k (4.4% below list).
• Recommended offer: $335k (4.4% below list) — sets the bar for 1% rule.
• Cap rate 7.7% vs local median 3.3% in Kennewick — 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 78/100 on livability (#131 in WA, #2,599 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A; Watch: schools D+, amenities D+, crime 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.
• Market conditions: Rents rising (+3.4%/yr); 292 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 1,532 units permitted in Benton County in 2024 (389 in 5+ unit buildings).
• At $3,347/mo this rent would consume 64% of the median local household income ($63k/yr) (locally 2605% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Benton County population projected at +32% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($339k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $182k; list at $350k implies a 92% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $334,679 (4.4% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is F 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?
6. 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.
7. 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.
8. 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: 0.96% ✗
• Cap rate: 7.66%
• Cash-on-cash: 4.87%
• DSCR: 1.22
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $361,224
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23 E 6th Ave	0.31mi	4/2.0	2,024 (-2%)	5mo	$353,000	$174	77
600 E 3rd Ave	0.19mi	4/2.0	2,095 (+1%)	22mo	$298,500	$142	71
4 W 3rd Ave	0.26mi	4/2.0	1,866 (-10%)	13mo	$369,900	$198	60
207 S Date St	0.06mi	4/2.0	1,764 (-15%)	15mo	$287,900	$163	60
602 W Albany Ave	0.74mi	4/2.0	1,948 (-6%)	3mo	$217,000	$111	52
912 S Alder St	0.56mi	4/2.0	1,882 (-9%)	10mo	$310,000	$165	50
415 E 8th Ave	0.43mi	4/2.0	1,767 (-15%)	6mo	$325,000	$184	50
224 W 2nd Ave	0.44mi	4/2.0	1,818 (-12%)	12mo	$298,500	$164	49
801 S Everett St	0.73mi	4/2.0	2,162 (+4%)	14mo	$378,000	$175	48
523 W Kennewick Ave	0.67mi	3/2.0 (-1)	2,372 (+14%)	5mo	$199,900	$84	36
601 W Albany Ave	0.73mi	3/1.5 (-1)	1,930 (-7%)	17mo	$360,000	$187	33
505 W Kennewick Ave	0.63mi	3/2.0 (-1)	1,817 (-12%)	21mo	$370,000	$204	27

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 · 3.39% rent growth · sell at horizon

5-year hold

• IRR: -8.3%
• Equity multiple: 0.69×
• Total profit: $-30,117
• Equity at exit: $52,171

10-year hold

• IRR: 1.6%
• Equity multiple: 1.12×
• Total profit: $11,606
• Equity at exit: $30,253

Cash invested: $97,972 (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 99336

• Rents YoY: 3.4%
• Active inventory: 292
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $3,347 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$266 /mo · $3,189/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$703
• Net cashflow: $398

Break-even live

Break-even rent $2,844

Max offer price $349,900

Occupancy floor 83%

Sensitivity live

Price	-10% $596	-5% $497	+0% $398	+5% $298	+10% $199
Rent	-10% $133	-5% $265	+0% $398	+5% $530	+10% $662
Rate	-1.0pp $574	-0.5pp $487	base $398	+0.5pp $307	+1.0pp $215

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
212 N Elm St Kennewick, WA	1.0–3.0	1.5–3.5	1782	$4,705	$2.64	15d	19	0.38mi
911 W Entiat Ave Kennewick, WA	2.0–3.0	2.5	1392	$1,999	$1.44	22d	5	1.11mi
1707 W 6th Ave Unit A101 Kennewick, WA	4.0	2.0	2244	$2,150	$0.96	45d	1	1.46mi

Listing history 21 events

1. 2026-06-21
   days on market $349,900 Active 36 DOM
2. 2026-06-18
   days on market $349,900 Active 33 DOM
3. 2026-06-17
   days on market $349,900 Active 32 DOM
4. 2026-06-16
   days on market $349,900 Active 31 DOM
5. 2026-06-15
   days on market $349,900 Active 30 DOM
6. 2026-06-14
   days on market $349,900 Active 28 DOM
7. 2026-06-13
   days on market $349,900 Active 27 DOM
8. 2026-06-10
   days on market $349,900 Active 25 DOM
9. 2026-06-09
   days on market $349,900 Active 24 DOM
10. 2026-06-08
    days on market $349,900 Active 23 DOM
11. 2026-06-07
    days on market $349,900 Active 22 DOM
12. 2026-06-05
    days on market $349,900 Active 19 DOM
13. 2026-06-03
    days on market $349,900 Active 18 DOM
14. 2026-06-02
    days on market $349,900 Active 17 DOM
15. 2026-06-01
    days on market $349,900 Active 16 DOM
16. 2026-05-31
    days on market $349,900 Active 15 DOM
17. 2026-05-30
    days on market $349,900 Active 14 DOM
18. 2026-05-16
    listed $349,900 Active
19. 2025-12-31
    price $359,900
20. 2020-06-30
    soldstatus $182,500 711-char remark

    Show marketing remark (711 chars)

    Looking for a great rental property or a large first home? Pick up your tools and make your move now! At this price, this opportunity won't last long. This house is set up on a spacious lot; it is totally fenced and a shed is included in the back yard. With 4 bedrooms this house has a ton of space for living and two full baths. It also has a unique outdoor space which extends the living area to a private patio/court yard in the back. This would be a great rental or a great home. This is your open invitation bring your creative touch; just consider the possibilities. .. with a little love, this home can shine again! Buyer to verify all information. This property may qualify for Seller Financing (Vendee)

21. 2019-12-30
    listed $165,000 711-char remark

    Show marketing remark (711 chars)

    Looking for a great rental property or a large first home? Pick up your tools and make your move now! At this price, this opportunity won't last long. This house is set up on a spacious lot; it is totally fenced and a shed is included in the back yard. With 4 bedrooms this house has a ton of space for living and two full baths. It also has a unique outdoor space which extends the living area to a private patio/court yard in the back. This would be a great rental or a great home. This is your open invitation bring your creative touch; just consider the possibilities. .. with a little love, this home can shine again! Buyer to verify all information. This property may qualify for Seller Financing (Vendee)

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

Tax reassessment forecast WA · Resets to sale price

• Current annual tax: $3,189 · $266/mo
• Projected year-2 tax: $3,429 · $286/mo
• Expected delta: +$240/yr (+$20/mo · 7.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 15 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: $40,161
• − Mortgage interest: −$19,600
• − Property taxes: −$3,189
• − Insurance: −$1,750
• − Repairs & maintenance: −$3,213
• − Management: −$3,213
• − Depreciation: −$10,179
• Taxable loss: −$981
• Est. tax savings @ 24.0%: +$236
• After-tax cash flow: $5,006/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 — Kennewick

• Score: 78/100
• State rank: #131
• US rank: #2599

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kennewick, WA
• County: Benton County · 186,895 people
• City population: 104,655
• Metro: Kennewick-Richland, WA
• Population (ZIP): 50,735
• Household income: $62,527
• Rent vs Own: 51.7% rent · 48.3% own
• Severe rent burden: 2605.0

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 55% Hispanic / Latino 37% Two or more races 15% Black 3% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 31% Cuban 2%
• Common ancestry: Portuguese 4% Slovak 3% Romanian 1%
• Foreign-born: 16% · Canada, Jamaica
• Languages at home: 68% English-only · Spanish 29% Arabic 1%

Political lean MEDSL · Benton

• 2024 margin: Strong R (+21.9) · D 37.7% · R 59.6% · Other 2.7%
• 2008→2024 swing: +4.2pp toward D · 2008: -26.1pp · 2024: -21.9pp
• All cycles: 2024: R+21.9 2020: R+21.0 2016: R+26.6 2012: R+27.0 2008: R+26.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -408.26%
• Current HPI: 256.1143
• Rent YoY: ▲ 3.39%
• 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

+112.1% since first listed

4 events — show timeline

• 2026-05-16 Listed $349,900 PACMLS
• 2025-12-31 Price Changed $359,900 PACMLS
• 2020-06-30 Sold (MLS) $182,500 PACMLS
• 2019-12-30 Listed $165,000 PACMLS

Property tax history

+7.7%/yr

Latest (2026): $3,189 · -0.5% YoY. Source: county tax records.