312 S Columbia Center Blvd. #23 Blvd #23 · Kennewick, WA 99336

$64,900

2 bd · 2.0 ba · 1,080 sqft · Manufactured public records · 128 Days on market

Built 1992 $60/sqft · 8% below area Est $70k · 8% 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 +10.9/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

MLS# 290415 Charming MFH in over 55 years old community. Home has spacious rooms and open floor plan. Home has lots of natural light and vaulted ceilings. Kitchen has plenty of counter space and has a breakfast bar. All the kitchen appliances come with the home. Master bedroom has a garden tub/shower to enjoy a nice bath in. There has been some updating. The roof and heat pump were replaced in 2016. The outside of the home has been recently painted. There is a huge, covered deck to enjoy the outdoors on.

Key facts

• Open floor plan
• Natural light
• Huge covered deck

Tags

• OPEN FLOOR PLAN
• NATURAL LIGHT
• VAULTED CEILINGS
• BREAKFAST BAR
• GARDEN TUB
• HUGE COVERED DECK

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $65k.

Deal economics

• At list price, monthly cash flow is $909 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• Cap rate 23.1% 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; 22 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 64% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,532 units permitted in Benton County in 2024 (389 in 5+ unit buildings).
• This rent runs 32% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 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 + 3.4% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 128 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.

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 $57,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 128 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 2.56% ✓
• Cap rate: 23.10%
• Cash-on-cash: 60.02%
• DSCR: 3.67
• GRM: 3.3

CMA / ARV

• ARV (median comp): $70,285
• List price: $64,900
• Delta: -7.66%
• Verdict: FAIR
• Comps: 8 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7901 W Clearwater Ave #145	0.27mi	2/2.0	1,008 (-7%)	6mo	$48,000	$48	72
312 S Columbia Center Blvd #82 Blvd #82	0.16mi	2/2.0	1,152 (+7%)	20mo	$87,000	$76	65
7901 W Clearwater Ave #179	0.23mi	2/2.0	924 (-14%)	21mo	$35,000	$38	48
7901 W Clearwater Ave #138	0.34mi	2/1.0	924 (-14%)	11mo	$69,900	$76	47
7901 W Clearwater Ave #139 Ave #139	0.33mi	2/1.5	924 (-14%)	19mo	$72,000	$78	43
7901 W Clearwater Ave #140	0.33mi	2/2.0	924 (-14%)	22mo	$56,000	$61	42

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: 59.2%
• Equity multiple: 3.64×
• Total profit: $48,025
• Equity at exit: $9,677

10-year hold

• IRR: 64.1%
• Equity multiple: 7.55×
• Total profit: $119,058
• Equity at exit: $5,611

Cash invested: $18,172 (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: 3.3×

Monthly cashflow live

• Estimated rent: $1,661 high
• Mortgage (P&I): −$340
• Tax from tax record: −$36 /mo · $432/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $909

Break-even live

Break-even rent $511

Max offer price $64,900

Occupancy floor 40%

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
502 S Florida Pl Kennewick, WA	2.0	1.0	1003	$1,850	$1.84	43d	1	0.19mi
8180 W 4th Ave Kennewick, WA	2.0–3.0	2.0	1202	$1,925	$1.60	13d	4	0.32mi
7275 W Clearwater Ave Kennewick, WA	1.0	1.0	777	$1,495	$1.92	43d	1	0.34mi
7275 W Clearwater Ave Unit B112 Kennewick, WA	1.0	1.0	777	$1,395	$1.80	43d	1	0.35mi
7803 W Deschutes Ave Kennewick, WA	1.0–3.0	1.0–2.0	925	$1,770	$1.91	13d	13	0.40mi
7960 W 10th Ave Kennewick, WA	1.0–2.0	1.0–2.0	946	$2,345	$2.48	13d	9	0.49mi
7968 W 10th Ave Kennewick, WA	1.0–3.0	1.0–2.0	951	$1,875	$1.97	13d	10	0.52mi
6809 W Kennewick Ave Unit C Kennewick, WA	2.0	1.0	1043	$1,250	$1.20	43d	1	0.69mi
32 S Quay St #4 Kennewick, WA	2.0	1.0	782	$1,195	$1.53	43d	1	0.77mi
24 S Quay St Unit 3 Kennewick, WA	3.0	1.5	1128	$1,625	$1.44	13d	1	0.77mi
8831 W Entiat Ave Kennewick, WA	3.0	2.0	1232	$1,995	$1.62	43d	1	0.97mi
725 N Center Pkwy Kennewick, WA	1.0–3.0	1.0–2.0	1086	$1,906	$1.75	13d	9	1.02mi
5702 W Kennewick Pl #110 Kennewick, WA	3.0	2.5	1435	$1,695	$1.18	13d	1	1.34mi
100 N Irving Pl Kennewick, WA	1.0–3.0	1.0–1.5	939	$1,488	$1.58	13d	11	1.41mi
100 N Irving Pl Unit G205 Kennewick, WA	2.0	1.0	858	$1,250	$1.46	44d	1	1.41mi
100 N Irving Pl Apt B205 Kennewick, WA	1.0	1.0	758	$1,199	$1.58	44d	1	1.41mi
100 N Irving Pl Unit K101 Kennewick, WA	3.0	1.5	1120	$1,700	$1.52	44d	1	1.41mi
100 N Irving Pl Unit H101 Kennewick, WA	3.0	1.5	1120	$1,699	$1.52	44d	1	1.41mi
100 N Irving Pl Apt D205 Kennewick, WA	1.0	1.0	758	$1,225	$1.62	44d	1	1.41mi
100 N Irving Pl Unit C203 Kennewick, WA	2.0	1.0	858	$1,275	$1.49	44d	1	1.41mi
100 N Irving Pl Unit H202 Kennewick, WA	2.0	1.0	858	$1,395	$1.63	44d	1	1.41mi
100 N Irving Pl Unit E105 Kennewick, WA	2.0	1.0	858	$1,450	$1.69	44d	1	1.41mi

Listing history 18 events

1. 2026-06-18
   days on market $64,900 Active 128 DOM
2. 2026-06-17
   days on market $64,900 Active 127 DOM
3. 2026-06-16
   days on market $64,900 Active 126 DOM
4. 2026-06-15
   days on market $64,900 Active 125 DOM
5. 2026-06-14
   days on market $64,900 Active 123 DOM
6. 2026-06-13
   days on market $64,900 Active 122 DOM
7. 2026-06-10
   days on market $64,900 Active 120 DOM
8. 2026-06-09
   days on market $64,900 Active 119 DOM
9. 2026-06-08
   days on market $64,900 Active 118 DOM
10. 2026-06-07
    days on market $64,900 Active 117 DOM
11. 2026-06-05
    days on market $64,900 Active 114 DOM
12. 2026-06-03
    days on market $64,900 Active 113 DOM
13. 2026-06-02
    days on market $64,900 Active 112 DOM
14. 2026-06-01
    days on market $64,900 Active 111 DOM
15. 2026-05-31
    days on market $64,900 Active 110 DOM
16. 2026-05-30
    days on market $64,900 Active 109 DOM
17. 2026-03-06
    price $64,900 509-char remark

    Show marketing remark (509 chars)

    MLS# 290415 Charming MFH in over 55 years old community. Home has spacious rooms and open floor plan. Home has lots of natural light and vaulted ceilings. Kitchen has plenty of counter space and has a breakfast bar. All the kitchen appliances come with the home. Master bedroom has a garden tub/shower to enjoy a nice bath in. There has been some updating. The roof and heat pump were replaced in 2016. The outside of the home has been recently painted. There is a huge, covered deck to enjoy the outdoors on.

18. 2026-02-11
    listed $79,000 Active 509-char remark

    Show marketing remark (509 chars)

    MLS# 290415 Charming MFH in over 55 years old community. Home has spacious rooms and open floor plan. Home has lots of natural light and vaulted ceilings. Kitchen has plenty of counter space and has a breakfast bar. All the kitchen appliances come with the home. Master bedroom has a garden tub/shower to enjoy a nice bath in. There has been some updating. The roof and heat pump were replaced in 2016. The outside of the home has been recently painted. There is a huge, covered deck to enjoy the outdoors on.

ⓘ 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: $432 · $36/mo
• Projected year-2 tax: $636 · $53/mo
• Expected delta: +$204/yr (+$17/mo · 47.1%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 14 unhealthy d/yr today · 15 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,934
• − Mortgage interest: −$3,635
• − Property taxes: −$432
• − Insurance: −$324
• − Repairs & maintenance: −$1,595
• − Management: −$1,595
• − Depreciation: −$1,888
• Taxable income: $10,465
• Est. tax owed @ 24.0%: −$2,511
• After-tax cash flow: $8,396/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

-17.8% since first listed

2 events — show timeline

• 2026-03-06 Price Changed $64,900 PACMLS
• 2026-02-11 Listed $79,000 PACMLS

Property tax history

+50.5%/yr

Latest (2026): $432 · -5.7% YoY. Source: county tax records.