2021 Mahan Ave Unit D8 · Richland, WA 99354

$59,000

2 bd · 1.0 ba · 938 sqft · Manufactured public records · 270 Days on market

Built 1974 $63/sqft · 33% above area Est $44k · 33% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.3/10.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

MLS# 266759 Welcome to your new home in the desirable Alyson Manor Mobile Estates in Richland complete with a new roof! This charming 938 sq ft 2-bedroom, 1-bathroom manufactured home offers a comfortable and stylish living experience. As you enter the home, you'll be greeted by an open floor plan, freshly painted rooms and an updated bathroom, providing a warm and inviting atmosphere for you and your family. Perfect space for entertaining and everyday living. But the fun doesn't stop at your doorstep. The Alyson Manor Mobile Estates offers a variety of amenities to enhance your living experience, including a shimmering swimming pool, playground for the kids, basketball court for those who love sports, a BBQ and picnic area for outdoor gatherings, and so much more. Enjoy a convenient and active lifestyle with shopping, dining, entertainment, and Leslie Groves Park on the Columbia River located just minutes away. Don't miss out on this incredible opportunity to own a home in a prime location. Schedule a showing today!

Key facts

• Open floor plan
• Remodeled retreat
• Updated kitchen

Tags

• REMODELED RETREAT
• UPDATED KITCHEN
• LUXURY VINYL PLANK FLOORING
• OPEN FLOOR PLAN
• STAINLESS STEEL APPLIANCES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $59k.

Deal economics

• At list price, monthly cash flow is $706 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).
• Recommended offer: $52k (12.0% below list) — sets the bar for market timing.
• Cap rate 20.7% vs local median 2.8% in Richland — 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 (#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.
• Richland School District (urban): math 52% / reading 64% proficiency, ranked #61 of 291 in WA (top 21%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents flat; 129 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,532 units permitted in Benton County in 2024 (389 in 5+ unit buildings).
• This rent is only 17% of the median local income ($92k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $408 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 0.6% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 270 days — a 12% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y ago; this cycle's ask has dropped $10k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $49k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major flood risk; 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 $51,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 270 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — 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 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?
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: 2.26% ✓
• Cap rate: 20.66%
• Cash-on-cash: 51.30%
• DSCR: 3.28
• GRM: 3.7

CMA / ARV

• ARV (median comp): $44,500
• List price: $59,000
• Delta: 32.58%
• Verdict: OVERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2021 Mahan Ave Unit I8	0.10mi	2/2.0	924 (-2%)	4mo	$44,500	$48	86
2021 Mahan Ave. #m7 Ave Unit M7	0.14mi	3/2.0 (+1)	924 (-2%)	8mo	$74,000	$80	75
2021 Mahan #i8 Ave Unit I8	0.06mi	2/2.0	924 (-2%)	24mo	$47,500	$51	71
2021 Mahan Ave Unit H-7	0.08mi	3/2.0 (+1)	938 (0%)	22mo	$72,500	$77	69
2021 Mahan Ave # E9 Ave Unit E9	0.04mi	2/2.0	980 (+4%)	23mo	$40,000	$41	67

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 · 0.62% rent growth · sell at horizon

5-year hold

• IRR: 46.6%
• Equity multiple: 2.95×
• Total profit: $32,286
• Equity at exit: $8,797

10-year hold

• IRR: 51.3%
• Equity multiple: 5.47×
• Total profit: $73,765
• Equity at exit: $5,101

Cash invested: $16,520 (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 99354

• Rents YoY: 0.6%
• Active inventory: 129
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,334 high
• Mortgage (P&I): −$309
• Tax from tax record: −$13 /mo · $158/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $706

Break-even live

Break-even rent $439

Max offer price $59,000

Occupancy floor 42%

Sensitivity live

Price	-10% $740	-5% $723	+0% $706	+5% $690	+10% $673
Rent	-10% $601	-5% $654	+0% $706	+5% $759	+10% $812
Rate	-1.0pp $736	-0.5pp $721	base $706	+0.5pp $691	+1.0pp $675

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1900 Stevens Dr Richland, WA	1.0–2.0	1.0	816	$1,425	$1.75	22d	23	0.44mi
1872 Alder Ave Unit A Richland, WA	2.0	2.0	668	$1,795	$2.69	14d	1	0.65mi
1930 George Washington Way Unit 108 Richland, WA	2.0	2.0	824	$1,150	$1.40	22d	1	0.66mi
1930 George Washington Way Richland, WA	2.0	2.0	824	$1,150	$1.40	14d	1	0.66mi
1911 Hoxie Ave Unit C Richland, WA	2.0	1.0	891	$1,500	$1.68	45d	1	0.71mi
2324 Hood Ave Richland, WA	1.0–2.0	1.0	825	$1,400	$1.70	14d	5	0.80mi
200 Waldron St Richland, WA	2.0	1.0	675	$1,335	$1.98	22d	2	0.82mi
2360 Hood Ave Richland, WA	1.0	1.0	758	$1,280	$1.69	14d	3	0.87mi
1650 Mowry Sq Richland, WA	1.0	1.0	643	$1,260	$1.96	22d	1	0.91mi
160 Van Giesen St Richland, WA	1.0	1.0	636	$1,115	$1.75	22d	1	0.94mi
1621 George Washington Way Richland, WA	1.0–3.0	1.0–2.0	907	$1,172	$1.29	22d	1	0.97mi
140 Van Giesen St Richland, WA	2.0	1.5	900	$1,195	$1.33	45d	1	0.97mi
2111 Turner St Apt 22 Richland, WA	2.0	1.0	776	$1,075	$1.39	45d	1	1.20mi
2111 Turner St Richland, WA	2.0	1.0	776	$1,095	$1.41	45d	1	1.22mi

Listing history 17 events

1. 2026-06-01
   days on market $59,000 Active 270 DOM
2. 2026-05-31
   days on market $59,000 Active 269 DOM
3. 2026-05-30
   days on market $59,000 Active 268 DOM
4. 2026-05-15
   price $59,000
5. 2025-11-25
   price $65,000
6. 2025-09-04
   listed $69,000 Active
7. 2023-04-10
   soldstatus $49,000 Closed 1032-char remark

   Show marketing remark (1032 chars)

   MLS# 266759 Welcome to your new home in the desirable Alyson Manor Mobile Estates in Richland complete with a new roof! This charming 938 sq ft 2-bedroom, 1-bathroom manufactured home offers a comfortable and stylish living experience. As you enter the home, you'll be greeted by an open floor plan, freshly painted rooms and an updated bathroom, providing a warm and inviting atmosphere for you and your family. Perfect space for entertaining and everyday living. But the fun doesn't stop at your doorstep. The Alyson Manor Mobile Estates offers a variety of amenities to enhance your living experience, including a shimmering swimming pool, playground for the kids, basketball court for those who love sports, a BBQ and picnic area for outdoor gatherings, and so much more. Enjoy a convenient and active lifestyle with shopping, dining, entertainment, and Leslie Groves Park on the Columbia River located just minutes away. Don't miss out on this incredible opportunity to own a home in a prime location. Schedule a showing today!

8. 2023-03-22
   historical Active Under Contract 1032-char remark

   Show marketing remark (1032 chars)

   MLS# 266759 Welcome to your new home in the desirable Alyson Manor Mobile Estates in Richland complete with a new roof! This charming 938 sq ft 2-bedroom, 1-bathroom manufactured home offers a comfortable and stylish living experience. As you enter the home, you'll be greeted by an open floor plan, freshly painted rooms and an updated bathroom, providing a warm and inviting atmosphere for you and your family. Perfect space for entertaining and everyday living. But the fun doesn't stop at your doorstep. The Alyson Manor Mobile Estates offers a variety of amenities to enhance your living experience, including a shimmering swimming pool, playground for the kids, basketball court for those who love sports, a BBQ and picnic area for outdoor gatherings, and so much more. Enjoy a convenient and active lifestyle with shopping, dining, entertainment, and Leslie Groves Park on the Columbia River located just minutes away. Don't miss out on this incredible opportunity to own a home in a prime location. Schedule a showing today!

9. 2023-03-20
   price $49,500 1032-char remark

   Show marketing remark (1032 chars)

   MLS# 266759 Welcome to your new home in the desirable Alyson Manor Mobile Estates in Richland complete with a new roof! This charming 938 sq ft 2-bedroom, 1-bathroom manufactured home offers a comfortable and stylish living experience. As you enter the home, you'll be greeted by an open floor plan, freshly painted rooms and an updated bathroom, providing a warm and inviting atmosphere for you and your family. Perfect space for entertaining and everyday living. But the fun doesn't stop at your doorstep. The Alyson Manor Mobile Estates offers a variety of amenities to enhance your living experience, including a shimmering swimming pool, playground for the kids, basketball court for those who love sports, a BBQ and picnic area for outdoor gatherings, and so much more. Enjoy a convenient and active lifestyle with shopping, dining, entertainment, and Leslie Groves Park on the Columbia River located just minutes away. Don't miss out on this incredible opportunity to own a home in a prime location. Schedule a showing today!

10. 2023-02-14
    listed $52,000 Active 1032-char remark

    Show marketing remark (1032 chars)

    MLS# 266759 Welcome to your new home in the desirable Alyson Manor Mobile Estates in Richland complete with a new roof! This charming 938 sq ft 2-bedroom, 1-bathroom manufactured home offers a comfortable and stylish living experience. As you enter the home, you'll be greeted by an open floor plan, freshly painted rooms and an updated bathroom, providing a warm and inviting atmosphere for you and your family. Perfect space for entertaining and everyday living. But the fun doesn't stop at your doorstep. The Alyson Manor Mobile Estates offers a variety of amenities to enhance your living experience, including a shimmering swimming pool, playground for the kids, basketball court for those who love sports, a BBQ and picnic area for outdoor gatherings, and so much more. Enjoy a convenient and active lifestyle with shopping, dining, entertainment, and Leslie Groves Park on the Columbia River located just minutes away. Don't miss out on this incredible opportunity to own a home in a prime location. Schedule a showing today!

11. 2023-01-20
    historical Active Under Contract
12. 2023-01-03
    status Active
13. 2022-12-29
    historical Active Under Contract
14. 2022-11-27
    status Active
15. 2022-11-26
    historical Active Under Contract
16. 2022-11-11
    price $45,000
17. 2022-10-21
    listed $50,000 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: $158 · $13/mo
• Projected year-2 tax: $578 · $48/mo
• Expected delta: +$420/yr (+$35/mo · 264.9%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X · 27% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 11 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,002
• − Mortgage interest: −$3,305
• − Property taxes: −$158
• − Insurance: −$295
• − Repairs & maintenance: −$1,280
• − Management: −$1,280
• − Depreciation: −$1,716
• Taxable income: $7,967
• Est. tax owed @ 24.0%: −$1,912
• After-tax cash flow: $6,563/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: Richland School District
• NCES district ID: 5307320
• Math proficiency: 52% ▬ 0.00%
• Reading proficiency: 64% ▼ -1.00%
• Median HH income: $70,475
• Composite: 53.04/100
• National rank: #3244
• State rank: #61 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
• County: Benton County · 186,895 people
• City population: 62,989
• Metro: Kennewick-Richland, WA
• Population (ZIP): 25,559
• Household income: $91,933
• Rent vs Own: 39.9% rent · 60.1% own
• Severe rent burden: 545.0

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: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 14% Two or more races 10% Asian 4% Native American 1%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Portuguese 4% Italian 4% Slovak 3%
• Foreign-born: 6% · Canada, China, Vietnam
• Languages at home: 89% English-only · Spanish 5% Russian/Polish/Slavic 1% Chinese 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: ▼ -353.00%
• Current HPI: 235.9082
• Rent YoY: ▲ 0.62%
• 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

+18.0% since first listed

14 events — show timeline

• 2026-05-15 Price Changed $59,000 NWMLS as Distributed by MLS Grid
• 2025-11-25 Price Changed $65,000 NWMLS as Distributed by MLS Grid
• 2025-09-04 Listed $69,000 NWMLS as Distributed by MLS Grid
• 2023-04-10 Sold (MLS) $49,000 PACMLS
• 2023-03-22 Contingent — PACMLS
• 2023-03-20 Price Changed $49,500 PACMLS
• 2023-02-14 Listed $52,000 PACMLS
• 2023-01-20 Contingent — PACMLS
• 2023-01-03 Relisted — PACMLS
• 2022-12-29 Contingent — PACMLS
• 2022-11-27 Relisted — PACMLS
• 2022-11-26 Contingent — PACMLS
• 2022-11-11 Price Changed $45,000 PACMLS
• 2022-10-21 Listed $50,000 PACMLS

Property tax history

+5.4%/yr

Latest (2026): $158 · -3.1% YoY. Source: county tax records.