406 S Fir St · Kennewick, WA 99336

$315,000

3 bd · 1.0 ba · 1,610 sqft · SingleFamily public records · 31 Days on market

Built 1925 0.25 ac lot Est $325k · at est.

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Why this score? — see what drove the D 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 +13.7/30.0
• ARV discount +8.9/15.0
• Schools +4.6/10.0
• DSCR +4.1/10.0
• Livability +3.9/5.0
• 1% rule +3.3/10.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MLS# 256405 Adorable home with fenced yard and detached shop! You will fall in love with this 3 bed, 1 bath home that has so much potential! Enter into the large living room that flows into the spacious kitchen. Downstairs you have 2 bedrooms along with 2 flex spaces allowing you to have a home that fits your needs perfectly! Upstairs features a large loft area with closet. Large mud/utility room leads to the large fenced yard and 720 sq ft garage/shop with loft and lean to. Tons of off street parking and possibilities with this great property! Comes with a 1 year home warranty! Call your favorite agent for a private showing today!

Key facts

• New floors
• New paint
• Newly updated rooms

Tags

• NEWLY UPDATED ROOMS
• NEW FLOORS
• NEW PAINT
• NEW COUNTERTOPS
• NEW CABINETS
• EXTRA NEWLY GRAVELED PARKING

Property features AI

Exterior

• Parking: 3 total parking spaces; 3 covered spaces; Detached garage with 3 spaces; Open parking with RV access/parking
• Utilities: Public water; Electric service on property; Electricity connected; Sewer connected; UGS timed irrigation
• Home design: Single-family residence (site built, owned lot); One story
• Construction: Metal siding; Metal roof; Built on crawl space
• Exterior features: Patio; Full and partial fencing; Workshop on property

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Range; Oven
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Central air conditioning (electric)
• Interior features: Storage; Ceiling fan(s); Crawl space (no finished basement)
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $315k.

Deal economics

• At list price, monthly cash flow is $23 ($281/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 $260k (17.5% below list).
• Recommended offer: $260k (17.5% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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); 286 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 1,532 units permitted in Benton County in 2024 (389 in 5+ unit buildings).
• At $2,599/mo this rent would consume 50% 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 $9k 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 31 days — a 3% lower offer ($306k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y 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.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• 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 $259,948 (17.5% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — 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. 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?
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: 0.83% ✗
• Cap rate: 6.38%
• Cash-on-cash: 0.32%
• DSCR: 1.01
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $325,220
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
406 S Fir St	0.00mi	3/1.0	1,610 (0%)	1mo	$315,000	$196	99
719 S Gum St	0.23mi	3/2.0	1,684 (+5%)	7mo	$253,000	$150	72
219 E 6th Ave	0.21mi	3/2.0	1,534 (-5%)	9mo	$294,900	$192	71
1140 S Cedar Pl	0.52mi	3/3.0	1,595 (-1%)	1mo	$339,900	$213	66
119 E 1st Ave	0.37mi	3/2.0	1,520 (-6%)	9mo	$307,000	$202	62
514 S Ivy St	0.32mi	3/2.0	1,456 (-10%)	6mo	$295,000	$203	60
706 S Alder St	0.41mi	4/1.0 (+1)	1,477 (-8%)	3mo	$296,000	$200	60
218 E 8th Pl	0.37mi	3/2.0	1,416 (-12%)	1mo	$246,000	$174	58
415 E 8th Ave	0.27mi	4/2.0 (+1)	1,767 (+10%)	6mo	$325,000	$184	57
721 E 15th Ave	0.65mi	3/2.0	1,456 (-10%)	8mo	$330,000	$227	43
1001 S Benton St	0.70mi	4/2.0 (+1)	1,477 (-8%)	4mo	$345,000	$234	41
305 W 10th Ave	0.73mi	3/1.0	1,369 (-15%)	8mo	$312,000	$228	34

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: -15.4%
• Equity multiple: 0.45×
• Total profit: $-48,580
• Equity at exit: $46,968

10-year hold

• IRR: -6.3%
• Equity multiple: 0.59×
• Total profit: $-36,354
• Equity at exit: $27,235

Cash invested: $88,200 (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: 286
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,599 high
• Mortgage (P&I): −$1,652
• Tax from tax record: −$247 /mo · $2,964/yr
• Insurance: −$131
• HOA: −$0
• Vacancy / Maint / Mgmt: −$546
• Net cashflow: $23

Break-even live

Break-even rent $2,570

Max offer price $315,000

Occupancy floor 94%

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Rent comps 6 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	13d	19	0.49mi
705 S Ione St Kennewick, WA	3.0	1.5	1056	$2,000	$1.89	13d	1	0.99mi
1000 W 5th Ave Kennewick, WA	3.0–4.0	2.0	1157	$1,371	$1.18	13d	4	1.15mi
1114 W 10th Ave Kennewick, WA	3.0	1.0–2.0	829	$1,551	$1.87	13d	41	1.21mi
911 W Entiat Ave Kennewick, WA	2.0–3.0	2.5	1392	$1,999	$1.44	21d	5	1.30mi
425 S Olympia St Kennewick, WA	2.0	1.0–2.0	1000	$1,335	$1.33	13d	9	1.33mi

Listing history 12 events

1. 2026-04-29
   status Pending
2. 2026-04-10
   status Active
3. 2026-04-04
   status Pending
4. 2026-03-31
   status Active
5. 2026-03-21
   status Pending
6. 2026-03-13
   listed $315,000 Active
7. 2026-02-16
   price $325,000
8. 2021-10-06
   soldstatus $279,000 640-char remark

   Show marketing remark (640 chars)

   MLS# 256405 Adorable home with fenced yard and detached shop! You will fall in love with this 3 bed, 1 bath home that has so much potential! Enter into the large living room that flows into the spacious kitchen. Downstairs you have 2 bedrooms along with 2 flex spaces allowing you to have a home that fits your needs perfectly! Upstairs features a large loft area with closet. Large mud/utility room leads to the large fenced yard and 720 sq ft garage/shop with loft and lean to. Tons of off street parking and possibilities with this great property! Comes with a 1 year home warranty! Call your favorite agent for a private showing today!

9. 2021-09-09
   listed $260,000 640-char remark

   Show marketing remark (640 chars)

   MLS# 256405 Adorable home with fenced yard and detached shop! You will fall in love with this 3 bed, 1 bath home that has so much potential! Enter into the large living room that flows into the spacious kitchen. Downstairs you have 2 bedrooms along with 2 flex spaces allowing you to have a home that fits your needs perfectly! Upstairs features a large loft area with closet. Large mud/utility room leads to the large fenced yard and 720 sq ft garage/shop with loft and lean to. Tons of off street parking and possibilities with this great property! Comes with a 1 year home warranty! Call your favorite agent for a private showing today!

10. 2015-03-30
    soldstatus $111,708
11. 2015-03-27
    soldstatus $112,000
12. 2014-11-03
    listed $112,900

ⓘ 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: $2,964 · $247/mo
• Projected year-2 tax: $3,087 · $257/mo
• Expected delta: +$123/yr (+$10/mo · 4.1%)

ⓘ 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 · 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: $31,194
• − Mortgage interest: −$17,645
• − Property taxes: −$2,964
• − Insurance: −$1,575
• − Repairs & maintenance: −$2,496
• − Management: −$2,496
• − Depreciation: −$9,164
• Taxable loss: −$5,145
• Est. tax savings @ 24.0%: +$1,235
• After-tax cash flow: $1,516/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

+179.0% since first listed

12 events — show timeline

• 2026-04-29 Pending — PACMLS
• 2026-04-10 Relisted — PACMLS
• 2026-04-04 Pending — PACMLS
• 2026-03-31 Relisted — PACMLS
• 2026-03-21 Pending — PACMLS
• 2026-03-13 Listed $315,000 PACMLS
• 2026-02-16 Price Changed $325,000 PACMLS
• 2021-10-06 Sold (MLS) $279,000 PACMLS
• 2021-09-09 Listed $260,000 PACMLS
• 2015-03-30 Sold (Public Records) $111,708 Public Records
• 2015-03-27 Sold (MLS) $112,000 PACMLS
• 2014-11-03 Listed $112,900 PACMLS

Property tax history

+7.7%/yr

Latest (2026): $2,964 · +1.6% YoY. Source: county tax records.