623 Lonetree Ln · Richland, WA 99352

$172,000

3 bd · 2.0 ba · 1,614 sqft · Manufactured public records · 80 Days on market

Built 1991 $107/sqft · at area comps Est $151k · 14% 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 +27.0/30.0
• DSCR +9.3/10.0
• 1% rule +7.3/10.0
• Schools +5.3/10.0
• Livability +4.0/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• ARV discount +1.1/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

MLS# 291484 Welcome home to this charming 3-bedroom, 2-bathroom MFH offering 1456square feet of comfortable living space, located in a desirable family friendly park. Enjoy a peaceful setting with a touch of scenic view from the expansive wood deck-complete with a handicap-accessible ramp for added connivence. Inside the home has been freshly painted and features newer wood-look vinyl flooring throughout most of the interior, creating a clean and modern feel. The kitchen is well-appointed with granite countertops, abundant cabinet storage, and generous counter space-perfect for cooking and entertaining. Updated light fixtures add a stylish touch throughout the home. The primary bedroom includes a spacious walk-in closet, providing plenty of storage. Outside you'll find a large storage shed for all your tools and extra belongings, along with a dedicated garden space-perfect for those who enjoy outdoor projects or growig their own plants. Great location!!!

Key facts

• Expansive wood deck
• Granite countertops
• Large storage shed

Tags

• HANDICAP-ACCESSIBLE RAMP
• EXPANSIVE WOOD DECK
• GRANITE COUNTERTOPS
• ABUNDANT CABINET STORAGE
• GENEROUS COUNTER SPACE
• LARGE STORAGE SHED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $172k.

Deal economics

• At list price, monthly cash flow is $481 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $172k).
• Recommended offer: $162k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.6% 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 rising (+1.6%/yr); 544 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,532 units permitted in Benton County in 2024 (389 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 80 days — a 6% lower offer ($162k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y 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 $35k; list at $172k implies a 393% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: 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 $161,680 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% 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 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?
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: 1.23% ✓
• Cap rate: 9.65%
• Cash-on-cash: 11.98%
• DSCR: 1.53
• GRM: 6.8

CMA / ARV

• ARV (median comp): $150,575
• List price: $172,000
• Delta: 14.23%
• Verdict: OVERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
212 Crestwood Dr	0.29mi	3/2.0	1,680 (+4%)	1mo	$148,900	$89	79
208 Crestwood Dr	0.25mi	3/2.0	1,536 (-5%)	4mo	$100,000	$65	77
2492 Horizon View Ln	0.07mi	3/1.5	1,512 (-6%)	12mo	$227,500	$150	75
93 Ridgecliff Dr	0.28mi	3/3.0	1,560 (-3%)	8mo	$185,000	$119	71
647 Lonetree Ln	0.04mi	4/2.0 (+1)	1,716 (+6%)	14mo	$155,000	$90	71
671 Lonetree Ln	0.09mi	3/2.0	1,782 (+10%)	10mo	$156,500	$88	70
77 Ridgecliff Dr	0.13mi	3/2.0	1,484 (-8%)	14mo	$166,000	$112	69
131 Windhaven Ln	0.19mi	4/2.0 (+1)	1,782 (+10%)	2mo	$152,250	$85	67
103 Skyline Dr #103	0.26mi	3/2.0	1,536 (-5%)	16mo	$122,750	$80	66
83 Ridgecliff Dr	0.18mi	3/2.0	1,404 (-13%)	8mo	$99,900	$71	63
16 Valley View Circle Dr	0.41mi	3/2.0	1,536 (-5%)	13mo	$106,000	$69	62
2503 Glen Briar Ln	0.58mi	3/2.0	1,456 (-10%)	4mo	$330,700	$227	53

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 · 1.6% rent growth · sell at horizon

5-year hold

• IRR: -0.1%
• Equity multiple: 1.00×
• Total profit: $-165
• Equity at exit: $25,646

10-year hold

• IRR: 8.1%
• Equity multiple: 1.57×
• Total profit: $27,690
• Equity at exit: $14,871

Cash invested: $48,160 (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 99352

• Rents YoY: 1.6%
• Active inventory: 544
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $2,113 high
• Mortgage (P&I): −$902
• Tax est. 1.5%: −$215 /mo · $2,580/yr
• Insurance: −$72
• HOA: −$0
• Vacancy / Maint / Mgmt: −$444
• Net cashflow: $481

Break-even live

Break-even rent $1,505

Max offer price $172,000

Occupancy floor 72%

Sensitivity live

Price	-10% $599	-5% $540	+0% $481	+5% $421	+10% $362
Rent	-10% $314	-5% $397	+0% $481	+5% $564	+10% $648
Rate	-1.0pp $567	-0.5pp $524	base $481	+0.5pp $436	+1.0pp $391

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: $43,000
• Closing costs: $5,160
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2550 Duportail St Richland, WA	1.0–3.0	1.0–2.0	980	$1,985	$2.03	14d	15	0.30mi
3003 Queensgate Dr Richland, WA	3.0	1.0–2.5	931	$2,030	$2.18	14d	21	0.42mi
731 Rio Vista Loop Richland, WA	3.0	2.5	1500	$2,195	$1.46	44d	1	0.44mi
782 Rio Vista Loop Richland, WA	3.0	3.0	1500	$2,195	$1.46	44d	1	0.44mi
723 Rio Vista Loop heuristic Richland, WA	3.0	2.5	1500	$2,195	$1.46	25d	1	0.45mi
790 Rio Vista LOOP Richland, WA	3.0	3.0	1500	$2,195	$1.46	44d	1	0.47mi
501 Wright Ave Apt 1 Richland, WA	2.0	2.5	1114	$1,450	$1.30	21d	1	0.80mi
902 Birch Ave Richland, WA	3.0	2.0	1600	$1,900	$1.19	14d	1	1.16mi
1043 Tartarian Ave Richland, WA	2.0–3.0	2.0	1147	$2,299	$2.00	14d	20	1.23mi
414 Douglass Ave Richland, WA	3.0	2.0	1800	$1,795	$1.00	14d	1	1.36mi
1031 Birch Ave Richland, WA	3.0	1.5	1689	$2,400	$1.42	44d	1	1.42mi
215 Casey Ave Richland, WA	2.0	1.0	1400	$1,800	$1.29	44d	1	1.45mi

Listing history 15 events

1. 2026-06-10
   days on market $172,000 Active 80 DOM
2. 2026-06-09
   days on market $172,000 Active 79 DOM
3. 2026-06-08
   days on market $172,000 Active 78 DOM
4. 2026-06-07
   days on market $172,000 Active 77 DOM
5. 2026-06-05
   days on market $172,000 Active 74 DOM
6. 2026-06-03
   days on market $172,000 Active 73 DOM
7. 2026-06-02
   days on market $172,000 Active 72 DOM
8. 2026-06-01
   days on market $172,000 Active 71 DOM
9. 2026-05-31
   days on market $172,000 Active 70 DOM
10. 2026-05-30
    days on market $172,000 Active 69 DOM
11. 2026-05-01
    price $172,000 968-char remark

    Show marketing remark (968 chars)

    MLS# 291484 Welcome home to this charming 3-bedroom, 2-bathroom MFH offering 1456square feet of comfortable living space, located in a desirable family friendly park. Enjoy a peaceful setting with a touch of scenic view from the expansive wood deck-complete with a handicap-accessible ramp for added connivence. Inside the home has been freshly painted and features newer wood-look vinyl flooring throughout most of the interior, creating a clean and modern feel. The kitchen is well-appointed with granite countertops, abundant cabinet storage, and generous counter space-perfect for cooking and entertaining. Updated light fixtures add a stylish touch throughout the home. The primary bedroom includes a spacious walk-in closet, providing plenty of storage. Outside you'll find a large storage shed for all your tools and extra belongings, along with a dedicated garden space-perfect for those who enjoy outdoor projects or growig their own plants. Great location!!!

12. 2026-03-23
    listed $176,000 Active 968-char remark

    Show marketing remark (968 chars)

    MLS# 291484 Welcome home to this charming 3-bedroom, 2-bathroom MFH offering 1456square feet of comfortable living space, located in a desirable family friendly park. Enjoy a peaceful setting with a touch of scenic view from the expansive wood deck-complete with a handicap-accessible ramp for added connivence. Inside the home has been freshly painted and features newer wood-look vinyl flooring throughout most of the interior, creating a clean and modern feel. The kitchen is well-appointed with granite countertops, abundant cabinet storage, and generous counter space-perfect for cooking and entertaining. Updated light fixtures add a stylish touch throughout the home. The primary bedroom includes a spacious walk-in closet, providing plenty of storage. Outside you'll find a large storage shed for all your tools and extra belongings, along with a dedicated garden space-perfect for those who enjoy outdoor projects or growig their own plants. Great location!!!

13. 2014-01-09
    listed $49,900
14. 2012-07-31
    soldstatus $34,900
15. 2012-05-04
    listed $34,900

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% 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: $25,356
• − Mortgage interest: −$9,635
• − Property taxes: −$2,580
• − Insurance: −$860
• − Repairs & maintenance: −$2,028
• − Management: −$2,028
• − Depreciation: −$5,004
• Taxable income: $3,221
• Est. tax owed @ 24.0%: −$773
• After-tax cash flow: $4,994/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): 37,430
• Household income: $100,108
• Rent vs Own: 32.2% rent · 67.8% own
• Severe rent burden: 983.0

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 (73%)
• Race & ethnicity: White 73% Hispanic / Latino 14% Two or more races 10% Asian 7% Black 2%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Italian 4% Portuguese 4% Slovak 3%
• Foreign-born: 9% · Canada, South Korea, China
• Languages at home: 88% English-only · Spanish 4% Other Indo-European 3% Korean 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: ▼ -323.81%
• Current HPI: 217.3435
• Rent YoY: ▲ 1.60%
• 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

+392.8% since first listed

5 events — show timeline

• 2026-05-01 Price Changed $172,000 PACMLS
• 2026-03-23 Listed $176,000 PACMLS
• 2014-01-09 Listed $49,900 PACMLS
• 2012-07-31 Sold (MLS) $34,900 PACMLS
• 2012-05-04 Listed $34,900 PACMLS

Property tax history

-3.0%/yr

Latest (2026): $305 · +17.0% YoY. Source: county tax records.