1420 SE Chickadee Ln · College Place, WA 99324

$45,000

2 bd · 1.0 ba · 952 sqft · Manufactured public records · 68 Days on market

Built 1975 $47/sqft · 19% below area Est $55k · 19% under ↓ 18% since listing

---

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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.2/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Brand new carpeting living room and all 3 bedrooms. New vinyl clad insulated windows 2 years old. Whirlpool Front Load Washer & Dryer 3 years old. Membrane roof. Rain gutters. Quiet cul-de-sac location.

Key facts

• New carpeting
• Membrane roof
• Community pool

Tags

• NEW CARPETING
• VINYL CLAD INSULATED WINDOWS
• MEMBRANE ROOF
• QUIET CUL-DE-SAC LOCATION

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $45k.

Deal economics

• At list price, monthly cash flow is $812 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $42k (6.0% below list) — sets the bar for market timing.
• Cap rate 27.9% vs local median 2.5% in College Place — 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 82/100 on livability (#71 in WA, #1,277 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: employment D, amenities D-.
• College Place School District (suburban): math 41% / reading 53% proficiency, ranked #170 of 291 in WA (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 103 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 206 units permitted in Walla Walla County in 2024 (50 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Walla Walla County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($42k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $42,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 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 1975 — 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. 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.
6. 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.
7. 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: 3.15% ✓
• Cap rate: 27.95%
• Cash-on-cash: 77.34%
• DSCR: 4.44
• GRM: 2.6

CMA / ARV

• ARV (median comp): $55,224
• List price: $45,000
• Delta: -18.51%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1420 SE Chickadee Ln	0.00mi	3/1.5 (+1)	952 (0%)	0mo	$35,000	$37	93
859 SE Mockingbird Dr	0.09mi	2/1.0	960 (+1%)	6mo	$55,000	$57	89
1424 SE Chickadee Ln	0.00mi	3/2.0 (+1)	952 (0%)	22mo	$130,000	$137	72
1453 SE Bobolink Ln	0.11mi	3/2.0 (+1)	924 (-3%)	19mo	$59,000	$64	65

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: 77.4%
• Equity multiple: 4.53×
• Total profit: $44,451
• Equity at exit: $6,710

10-year hold

• IRR: 81.0%
• Equity multiple: 9.36×
• Total profit: $105,387
• Equity at exit: $3,891

Cash invested: $12,600 (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 99324

• Home prices YoY: -17.6%
• Active inventory: 103
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,417 high
• Mortgage (P&I): −$236
• Tax from tax record: −$53 /mo · $635/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $812

Break-even live

Break-even rent $389

Max offer price $45,000

Occupancy floor 38%

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
705 SE Scenic View Dr Unit 2 TOP FLOOR College Place, WA	2.0	1.0	800	$1,450	$1.81	43d	1	0.10mi
1200 SE Broadway Ave Apt H College Place, WA	1.0	1.0	534	$1,095	$2.05	43d	1	0.52mi
925 S College Ave Unit F College Place, WA	2.0	1.0	655	$975	$1.49	43d	1	0.59mi
1005 SW Puff Ln College Place, WA	2.0	1.0	890	$1,100	$1.24	43d	1	0.64mi
108 SE 6th St Apt 11 College Place, WA	2.0	1.0	720	$1,195	$1.66	43d	1	0.65mi
806 S College Ave College Place, WA	1.0–2.0	1.0–2.0	738	$1,750	$2.37	43d	3	0.66mi
108 SE 6th St #3 College Place, WA	1.0	1.0	550	$1,065	$1.94	43d	1	0.66mi
211 SE 3rd St Unit Irisview 327-101 College Place, WA	2.0	1.0	800	$1,295	$1.62	43d	1	0.79mi
43 NE Ash Ave #2 College Place, WA	1.0	1.0	819	$1,185	$1.45	43d	1	1.06mi
255 Elder Pl #3 College Place, WA	2.0	1.0	889	$1,415	$1.59	43d	1	1.09mi
942 NE Spitzenburg St Apt B104 College Place, WA	2.0	1.5	975	$1,530	$1.57	43d	1	1.16mi
220 N College Ave College Place, WA	2.0	1.0	850	$1,150	$1.35	43d	1	1.18mi
623 W Whitman Dr Unit 623 Whitman College Place, WA	2.0	1.5	900	$1,575	$1.75	43d	1	1.30mi
101 Kenwood St #205 Walla Walla, WA	2.0	1.0	845	$1,325	$1.57	43d	1	1.47mi

Listing history 2 events

1. 2026-05-04
   price $45,000
2. 2026-03-20
   listed $54,900 Active

ⓘ 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: $635 · $53/mo
• Projected year-2 tax: $635 · $53/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 10 unhealthy d/yr today · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,008
• − Mortgage interest: −$2,521
• − Property taxes: −$635
• − Insurance: −$225
• − Repairs & maintenance: −$1,361
• − Management: −$1,361
• − Depreciation: −$1,309
• Taxable income: $9,598
• Est. tax owed @ 24.0%: −$2,303
• After-tax cash flow: $7,442/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: College Place School District
• NCES district ID: 5301470
• Math proficiency: 41% ▲ 2.00%
• Reading proficiency: 53% ▬ 0.00%
• Median HH income: $48,045
• Composite: 42.23/100
• National rank: #6997
• State rank: #170 of 291 in WA

Livability — College Place

• Score: 82/100
• State rank: #71
• US rank: #1277

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: College Place, WA
• County: Walla Walla County · 52,990 people
• City population: 10,137
• Metro: Walla Walla, WA
• Population (ZIP): 10,137
• Household income: $62,839
• Rent vs Own: 35.5% rent · 64.5% own
• Severe rent burden: 400.0

Population outlook (Walla Walla County) Hauer SSP2

• Today (2025): 63,088 people
• By 2030: 64,417 · +2.1%
• By 2040: 66,563 · +5.5%
• By 2050: 68,337 · +8.3%
• By 2075: 73,235 · +16.1%
• By 2100: 74,878 · +18.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 20% Two or more races 8% Asian 3%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Italian 6% Lithuanian 4% Portuguese 4%
• Foreign-born: 9% · Canada, China
• Languages at home: 84% English-only · Spanish 12% French/Haitian/Cajun 1% Other Asian/Pacific 1%

Political lean MEDSL · Walla Walla

• 2024 margin: Lean R (+8.1) · D 44.6% · R 52.7% · Other 2.7%
• 2008→2024 swing: +8.5pp toward D · 2008: -16.6pp · 2024: -8.1pp
• All cycles: 2024: R+8.1 2020: R+8.7 2016: R+16.4 2012: R+22.3 2008: R+16.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -69.73%
• Current HPI: 326.0923
• Rent YoY: —
• Metro: Walla Walla, 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

-18.0% since first listed

2 events — show timeline

• 2026-05-04 Price Changed $45,000 NWMLS as Distributed by MLS Grid
• 2026-03-20 Listed $54,900 NWMLS as Distributed by MLS Grid

Property tax history

+12.8%/yr

Latest (2026): $635 · +8.2% YoY. Source: county tax records.