1928 J St #102 · Walla Walla, WA 99362

$120,000

2 bd · 1.0 ba · 780 sqft · Condo public records · 6 Days on market

Built 1972 $250/mo HOA · 17% of rent

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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 +18.7/30.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• DSCR +5.9/10.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

A rare opportunity to acquire an "affordable home" or an immediate "cash flow" investment. Excellent rental history on this 2 Bdrm 1 Bath ground floor Condo. Has been renting for $1150.00 per month with a $250.00 HOA assessment covering Water, Sewer, Garbage & Common area maintenance making this a profitable investment. Brand New Carpeting. Common area includes a pool, laundry room, exercise facility, barbecue pits & recreation area as well as Guest parking. Units were taken down to the studs in 2005 & totally remodeled. Pets allowed.

Key facts

• $250 HOA
• Parking
• Community pool

Property features AI

Finance

• Other: 8 units in the building; Unit floor number: 102; Buyer to verify schools
• Financial info: Acceptable financing: Cash, Conventional, FHA
• HOA & community: HOA with monthly fee of $250; HOA fee covers common area maintenance, lawn service, sewer, snow removal, trash, and water; Community amenities: exercise room, laundry room, outdoor pool; Association contact: Adena Hodgins; 64 units in the community

Exterior

• Parking: 1 covered parking space (carport); 1 uncovered off-street parking space
• Utilities: City water; City sewer; Pacific Power electric service; Natural gas available; Cable: Spectrum; Internet: Pocket inet
• Home design: Residential condominium; Attached unit; Condo across 2 levels in the building design; Ground-floor unit; Faces north; Vineyard Condos
• Construction: Standard frame construction; Stucco siding; Composition roof; Effective year built 1972; Multi-family structure
• Exterior features: Stucco exterior; Paved surfaces and sidewalks; Outdoor pool (community); Common exercise room and laundry room (community)

Interior

• Kitchen: Dishwasher; Garbage disposal; Refrigerator; Electric cooking
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Laminate; Carpet
• Bathrooms: 1 full bathroom with bathtub and shower (main level)
• Heating & cooling: High-efficiency heating (90%+), forced air; Central air conditioning (90%+), forced air
• Interior features: Electric cooking
• Laundry & utility: Laundry room in building (common); Appliance hookups for electric cooking

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $118 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Cap rate 7.5% vs local median 2.3% in Walla Walla — 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 (#105 in WA, #2,015 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: schools C-.
• Walla Walla Public Schools (urban): math 41% / reading 50% proficiency, ranked #179 of 291 in WA (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.4%/yr); 422 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 61% 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 $830 of loan paydown is wiped out by about $4k 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.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 $62k; list at $120k implies a 92% gain — meaningful room to come down on a strong offer.

Recommended offer $120,000

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.20% ✓
• Cap rate: 7.47%
• Cash-on-cash: 4.21%
• DSCR: 1.19
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.4% rent growth · sell at horizon

5-year hold

• IRR: -10.4%
• Equity multiple: 0.62×
• Total profit: $-12,662
• Equity at exit: $17,892

10-year hold

• IRR: -1.9%
• Equity multiple: 0.87×
• Total profit: $-4,299
• Equity at exit: $10,375

Cash invested: $33,600 (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 99362

• Rents YoY: 2.4%
• Active inventory: 422
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,443 high
• Mortgage (P&I): −$629
• Tax from tax record: −$93 /mo · $1,117/yr
• Insurance: −$50
• HOA: −$250
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $118

Break-even live

Break-even rent $1,294

Max offer price $120,000

Occupancy floor 87%

Sensitivity live

Price	-10% $186	-5% $152	+0% $118	+5% $84	+10% $50
Rent	-10% $4	-5% $61	+0% $118	+5% $175	+10% $232
Rate	-1.0pp $178	-0.5pp $148	base $118	+0.5pp $87	+1.0pp $55

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
625 Wellington Ave Walla Walla, WA	1.0–2.0	1.0	854	$1,695	$1.98	22d	11	0.04mi
1910 J St #202 Walla Walla, WA	2.0	1.0	780	$1,250	$1.60	44d	1	0.05mi
608 N Roosevelt St Unit 608NROO Walla Walla, WA	2.0	2.0	894	$1,425	$1.59	44d	1	0.07mi
212 N Roosevelt St Walla Walla, WA	1.0–2.0	1.0	750	$1,250	$1.67	22d	3	0.40mi
1800 Evergreen St Walla Walla, WA	2.0	1.0	797	$1,000	$1.25	22d	3	0.48mi
2210 E Isaacs Ave Walla Walla, WA	1.0–3.0	1.0–2.0	1033	$1,765	$1.71	14d	1	0.56mi
2222 Isaacs Ave Walla Walla, WA	2.0	1.0	1011	$1,672	$1.65	14d	6	0.66mi
150 S Wilbur Ave Walla Walla, WA	2.0	1.0	540	$1,485	$2.75	44d	11	0.76mi
40 S Clinton St Walla Walla, WA	1.0–2.0	1.0	670	$950	$1.42	44d	2	0.97mi
115 Merriam St Walla Walla, WA	1.0–2.0	1.0	800	$1,650	$2.06	44d	9	1.03mi
427 E Cherry St Walla Walla, WA	2.0	1.0	1002	$1,795	$1.79	44d	1	1.36mi
524 E Pine St Unit A Walla Walla, WA	2.0	1.0	864	$1,495	$1.73	22d	1	1.36mi
378 S Park St Walla Walla, WA	2.0	1.5	800	$1,200	$1.50	44d	1	1.37mi
327 E Rose St Walla Walla, WA	1.0–2.0	1.0–2.0	863	$2,421	$2.80	44d	8	1.39mi
104 S Palouse St Walla Walla, WA	1.0	1.0	800	$1,100	$1.38	44d	1	1.39mi
427 E Pine St Unit 427 Walla Walla, WA	2.0	1.0	752	$1,225	$1.63	14d	1	1.42mi
385 Catherine St Unit 387C Walla Walla, WA	1.0	1.0	550	$950	$1.73	44d	1	1.49mi
105 N Spokane St Unit 201 Walla Walla, WA	2.0	1.0	750	$1,250	$1.67	44d	1	1.49mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Likely covers: watersewertrashpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-04-30
   status Pending
2. 2026-04-24
   status Active
3. 2026-04-03
   status Pending
4. 2026-04-03
   listed $120,000 Active
5. 2012-11-29
   soldstatus $62,500
6. 2012-09-17
   listed $62,500

ⓘ 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: $1,117 · $93/mo
• Projected year-2 tax: $1,176 · $98/mo
• Expected delta: +$59/yr (+$5/mo · 5.3%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 2/10 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 9 unhealthy d/yr today · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,320
• − Mortgage interest: −$6,722
• − Property taxes: −$1,117
• − Insurance: −$600
• − Repairs & maintenance: −$1,386
• − Management: −$1,386
• − HOA: −$3,000
• − Depreciation: −$3,491
• Taxable loss: −$381
• Est. tax savings @ 24.0%: +$91
• After-tax cash flow: $1,506/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: Walla Walla Public Schools
• NCES district ID: 5309450
• Math proficiency: 41% ▲ 3.00%
• Reading proficiency: 50% ▼ -1.00%
• Median HH income: $46,207
• Composite: 40.88/100
• National rank: #7531
• State rank: #179 of 291 in WA

Livability — Walla Walla

• Score: 79/100
• State rank: #105
• US rank: #2015

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Walla Walla, WA
• County: Walla Walla County · 52,990 people
• City population: 42,853
• Metro: Walla Walla, WA
• Population (ZIP): 42,853
• Household income: $72,474
• Rent vs Own: 36.3% rent · 63.7% own
• Severe rent burden: 1238.0

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 (69%)
• Race & ethnicity: White 69% Hispanic / Latino 22% Two or more races 9% Black 2% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Slovak 3% Portuguese 3% Lithuanian 3%
• Foreign-born: 9% · Canada, China
• Languages at home: 83% English-only · Spanish 15% Chinese 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: ▼ -488.03%
• Current HPI: 321.6891
• Rent YoY: ▲ 2.40%
• 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

+92.0% since first listed

6 events — show timeline

• 2026-04-30 Pending — NWMLS as Distributed by MLS Grid
• 2026-04-24 Relisted — NWMLS as Distributed by MLS Grid
• 2026-04-03 Pending — NWMLS as Distributed by MLS Grid
• 2026-04-03 Listed $120,000 NWMLS as Distributed by MLS Grid
• 2012-11-29 Sold (MLS) $62,500 NWMLS as Distributed by MLS Grid
• 2012-09-17 Listed $62,500 NWMLS as Distributed by MLS Grid

Property tax history

+2.4%/yr

Latest (2026): $1,117 · -1.3% YoY. Source: county tax records.