240 Skyline Dr · Richland, WA 99352

$165,900

3 bd · 2.0 ba · 1,536 sqft · Manufactured public records · 51 Days on market

Built 1977 $108/sqft · 10% above area Est $151k · 10% 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 +29.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• Schools +5.3/10.0
• Livability +4.0/5.0
• ARV discount +2.9/15.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MLS# 292221 Beautifully updated and ideally located near the Queensgate area, this home offers space, comfort, and convenience. Open kitchen features an island, pantry, updated cabinets and counters, cabinet-height backsplash, and all the appliances, including the washer and dryer, are included in the sale. Both bathrooms have been tastefully remodeled, and new paint, updated lighting, plumbing fixtures, LVP flooring, vinyl windows, and a new hot water tank add to the home’s fresh feel. Enjoy both a living room and large family room, plus a covered deck, shed, off-street parking, mature trees, and an established garden area. Includes access to the playground, clubhouse, and swimming pool, making this an appealing package in a great Richland location.

Key facts

• Pantry
• Updated cabinets
• Updated counters

Tags

• OPEN KITCHEN
• ISLAND
• PANTRY
• UPDATED CABINETS
• UPDATED COUNTERS
• CABINET-HEIGHT BACKSPLASH

Property features AI

Finance

• Other: Calculated building area: 1536; Green feature: Double pane windows
• Financial info: Listing terms: Cash
• HOA & community: Located in The Hills park; Park amenities: Clubhouse, Playground, Pool; Land lease: $775

Exterior

• Parking: Uncovered parking
• Utilities: Electric energy source; Public water
• Home design: Manufactured double-wide home; One level; Residential property
• Construction: Metal/vinyl construction; Composition roof; Manufactured house; Foundation: See remarks
• Exterior features: Metal/vinyl exterior; Corner lot; Patio/porch/deck

Interior

• Kitchen: Dishwasher; Garbage disposal; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Laminate; Vinyl; Carpet
• Bathrooms: 1 full bath; 1 three-quarter bath; 1 bathtub; 2 showers
• Heating & cooling: Forced air heating; Heat pump; Forced air cooling; Heat pump cooling
• Interior features: Bath off primary; Double pane windows; Patio/porch/deck; Dishwasher; Garbage disposal
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $166k.

Deal economics

• At list price, monthly cash flow is $567 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $166k).
• Recommended offer: $161k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.4% 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; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $46k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($161k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 23y 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 $32k; list at $166k implies a 427% 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 $160,923 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — 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 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: 1.31% ✓
• Cap rate: 10.39%
• Cash-on-cash: 14.65%
• DSCR: 1.65
• GRM: 6.4

CMA / ARV

• ARV (median comp): $150,575
• List price: $165,900
• Delta: 10.18%
• 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
208 Crestwood Dr	0.12mi	3/2.0	1,536 (0%)	4mo	$100,000	$65	92
16 Valley View Circle Dr	0.04mi	3/2.0	1,536 (0%)	13mo	$106,000	$69	88
103 Skyline Dr #103	0.14mi	3/2.0	1,536 (0%)	16mo	$122,750	$80	81
93 Ridgecliff Dr	0.15mi	3/3.0	1,560 (+2%)	8mo	$185,000	$119	80
212 Crestwood Dr	0.08mi	3/2.0	1,680 (+9%)	1mo	$148,900	$89	80
165 Cedarwood Ct	0.07mi	3/2.0	1,536 (0%)	23mo	$170,000	$111	78
77 Ridgecliff Dr	0.27mi	3/2.0	1,484 (-3%)	14mo	$166,000	$112	70
83 Ridgecliff Dr	0.22mi	3/2.0	1,404 (-9%)	8mo	$99,900	$71	68
2492 Horizon View Ln	0.42mi	3/1.5	1,512 (-2%)	12mo	$227,500	$150	66
647 Lonetree Ln	0.33mi	4/2.0 (+1)	1,716 (+12%)	14mo	$155,000	$90	48
71 Ridgecliff Dr	0.30mi	3/2.0	1,760 (+15%)	18mo	$216,500	$123	47
69 Ridgecliff Dr	0.28mi	3/2.0	1,323 (-14%)	20mo	$132,000	$100	47

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: 3.5%
• Equity multiple: 1.13×
• Total profit: $6,251
• Equity at exit: $24,736

10-year hold

• IRR: 11.7%
• Equity multiple: 1.86×
• Total profit: $40,058
• Equity at exit: $14,344

Cash invested: $46,452 (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: 6.4×

Monthly cashflow live

• Estimated rent: $2,169 high
• Mortgage (P&I): −$870
• Tax est. 1.5%: −$207 /mo · $2,488/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $567

Break-even live

Break-even rent $1,451

Max offer price $165,900

Occupancy floor 69%

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: $41,475
• Closing costs: $4,977
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
731 Rio Vista Loop Richland, WA	3.0	2.5	1500	$2,195	$1.46	43d	1	0.13mi
723 Rio Vista Loop heuristic Richland, WA	3.0	2.5	1500	$2,195	$1.46	25d	1	0.14mi
782 Rio Vista Loop Richland, WA	3.0	3.0	1500	$2,195	$1.46	43d	1	0.17mi
790 Rio Vista LOOP Richland, WA	3.0	3.0	1500	$2,195	$1.46	43d	1	0.18mi
3003 Queensgate Dr Richland, WA	3.0	1.0–2.5	931	$2,030	$2.18	13d	21	0.60mi
2550 Duportail St Richland, WA	1.0–3.0	1.0–2.0	980	$1,985	$2.03	13d	15	0.64mi
1043 Tartarian Ave Richland, WA	2.0–3.0	2.0	1147	$2,299	$2.00	13d	20	0.88mi
501 Wright Ave Apt 1 Richland, WA	2.0	2.5	1114	$1,450	$1.30	21d	1	1.04mi
215 Casey Ave Richland, WA	2.0	1.0	1400	$1,800	$1.29	43d	1	1.37mi
414 Douglass Ave Richland, WA	3.0	2.0	1800	$1,795	$1.00	13d	1	1.38mi
902 Birch Ave Richland, WA	3.0	2.0	1600	$1,900	$1.19	13d	1	1.44mi

Listing history 22 events

1. 2026-06-18
   days on market $165,900 Active 51 DOM
2. 2026-06-17
   days on market $165,900 Active 50 DOM
3. 2026-06-16
   days on market $165,900 Active 49 DOM
4. 2026-06-15
   days on market $165,900 Active 48 DOM
5. 2026-06-14
   days on market $165,900 Active 46 DOM
6. 2026-06-13
   days on market $165,900 Active 45 DOM
7. 2026-06-10
   days on market $165,900 Active 43 DOM
8. 2026-06-09
   days on market $165,900 Active 42 DOM
9. 2026-06-08
   days on market $165,900 Active 41 DOM
10. 2026-06-07
    days on market $165,900 Active 40 DOM
11. 2026-06-05
    days on market $165,900 Active 37 DOM
12. 2026-06-03
    days on market $165,900 Active 36 DOM
13. 2026-06-02
    days on market $165,900 Active 35 DOM
14. 2026-06-01
    days on market $165,900 Active 34 DOM
15. 2026-05-31
    days on market $165,900 Active 33 DOM
16. 2026-05-30
    days on market $165,900 Active 32 DOM
17. 2026-04-17
    listed $165,900 Active 766-char remark

    Show marketing remark (766 chars)

    MLS# 292221 Beautifully updated and ideally located near the Queensgate area, this home offers space, comfort, and convenience. Open kitchen features an island, pantry, updated cabinets and counters, cabinet-height backsplash, and all the appliances, including the washer and dryer, are included in the sale. Both bathrooms have been tastefully remodeled, and new paint, updated lighting, plumbing fixtures, LVP flooring, vinyl windows, and a new hot water tank add to the home’s fresh feel. Enjoy both a living room and large family room, plus a covered deck, shed, off-street parking, mature trees, and an established garden area. Includes access to the playground, clubhouse, and swimming pool, making this an appealing package in a great Richland location.

18. 2026-04-17
    listed $165,900 Active

    Show marketing remark (766 chars)

    MLS# 292221 Beautifully updated and ideally located near the Queensgate area, this home offers space, comfort, and convenience. Open kitchen features an island, pantry, updated cabinets and counters, cabinet-height backsplash, and all the appliances, including the washer and dryer, are included in the sale. Both bathrooms have been tastefully remodeled, and new paint, updated lighting, plumbing fixtures, LVP flooring, vinyl windows, and a new hot water tank add to the home’s fresh feel. Enjoy both a living room and large family room, plus a covered deck, shed, off-street parking, mature trees, and an established garden area. Includes access to the playground, clubhouse, and swimming pool, making this an appealing package in a great Richland location.

19. 2011-10-03
    soldstatus $31,500 401-char remark

    Show marketing remark (401 chars)

    You will fall in love with this home. Nicely updated with warm paints colors and window treatments plus newer flooring and fixtures. Roomy and comfortable floor plan. Perfect corner lot which allows for room and enjoyable landscaping. There is a fenced area too! Newer heat pump, roof and windows. 2 entrances to the park. .. 1 is Queensgate/right on Duportail to Lonestar/ right Bitteroot to Skyline.

20. 2011-08-18
    listed $32,000 401-char remark

    Show marketing remark (401 chars)

    You will fall in love with this home. Nicely updated with warm paints colors and window treatments plus newer flooring and fixtures. Roomy and comfortable floor plan. Perfect corner lot which allows for room and enjoyable landscaping. There is a fenced area too! Newer heat pump, roof and windows. 2 entrances to the park. .. 1 is Queensgate/right on Duportail to Lonestar/ right Bitteroot to Skyline.

21. 2004-02-10
    soldstatus $18,000
22. 2003-12-12
    listed $24,000

ⓘ 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: $26,028
• − Mortgage interest: −$9,293
• − Property taxes: −$2,488
• − Insurance: −$830
• − Repairs & maintenance: −$2,082
• − Management: −$2,082
• − Depreciation: −$4,826
• Taxable income: $4,427
• Est. tax owed @ 24.0%: −$1,062
• After-tax cash flow: $5,742/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

+591.2% since first listed

6 events — show timeline

• 2026-04-17 Listed $165,900 NWMLS as Distributed by MLS Grid
• 2026-04-17 Listed $165,900 PACMLS
• 2011-10-03 Sold (MLS) $31,500 PACMLS
• 2011-08-18 Listed $32,000 PACMLS
• 2004-02-10 Sold (MLS) $18,000 PACMLS
• 2003-12-12 Listed $24,000 PACMLS

Property tax history

+0.9%/yr

Latest (2026): $273 · +25.0% YoY. Source: county tax records.