31404 E Kennedy Rd Unit 19 Rd #19 · Benton City, WA 99320

$68,300

3 bd · 1.0 ba · 924 sqft · Manufactured public records · 59 Days on market

Built 1977 $74/sqft · at area comps Est $68k · at est.

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MLS# 291874 Stop apartment living! Check out this nicely renovated 3 bed/1 bath home situated on a large fully fenced lot in Kiona Village Manufactured home park. The home has been PRE INSPECTED for your convenience and comes with a 1 year home warranty for your peace of mind! Enjoy a nice spacious kitchen with plenty of room for your dining area, large living room, washer/dryer hookups, covered patio and storage shed for your lawn maintenance items. Lot rent is one of the cheapest in town at $545/month and includes water/sewer/garbage. Pets are allowed with no weight restrictions. Conveniently located just minutes to West/South Richland and Benton City. Call your favorite Realtor today for your own private showing!

Key facts

• Renovated home
• Spacious kitchen
• Large living room

Tags

• RENOVATED HOME
• FULLY FENCED LOT
• SPACIOUS KITCHEN
• LARGE LIVING ROOM
• COVERED PATIO
• STORAGE SHED

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $68k.

Deal economics

• At list price, monthly cash flow is $797 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $68k).
• Recommended offer: $66k (3.0% below list) — sets the bar for market timing.
• Cap rate 20.3% vs local median 2.8% in Benton City — 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 69/100 on livability (#258 in WA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, schools F, 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: 131 active listings in the ZIP; 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 $472 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 + 3.0% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($66k) 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 $66,251 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 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 F-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. 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: 2.35% ✓
• Cap rate: 20.29%
• Cash-on-cash: 49.98%
• DSCR: 3.22
• GRM: 3.5

CMA / ARV

• ARV (median comp): $68,300
• List price: $68,300
• Delta: —
• Verdict: FAIR
• Comps: 5 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
31404 E Kennedy Rd #57	0.00mi	3/2.0	924 (0%)	9mo	$72,500	$78	89
31404 E Kennedy Rd #18	0.00mi	3/2.0	980 (+6%)	2mo	$68,300	$70	84
31404 Kennedy Rd	0.00mi	2/2.0 (-1)	924 (0%)	12mo	$57,000	$62	81
31404 E Kennedy Rd #14	0.00mi	2/2.0 (-1)	980 (+6%)	2mo	$59,950	$61	79
31404 E Kennedy Rd #13	0.00mi	2/1.0 (-1)	980 (+6%)	9mo	$69,900	$71	77

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 47.7%
• Equity multiple: 3.08×
• Total profit: $39,692
• Equity at exit: $10,184

10-year hold

• IRR: 53.4%
• Equity multiple: 6.23×
• Total profit: $99,991
• Equity at exit: $5,905

Cash invested: $19,124 (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 99320

• Home prices YoY: -23.1%
• Active inventory: 131
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,606 medium
• Mortgage (P&I): −$358
• Tax est. 1.5%: −$85 /mo · $1,024/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $797

Break-even live

Break-even rent $597

Max offer price $68,300

Occupancy floor 45%

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: $17,075
• Closing costs: $2,049
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-05
   days on market $68,300 Active 59 DOM
2. 2026-06-03
   days on market $68,300 Active 58 DOM
3. 2026-06-02
   days on market $68,300 Active 57 DOM
4. 2026-06-01
   days on market $68,300 Active 56 DOM
5. 2026-05-31
   days on market $68,300 Active 55 DOM
6. 2026-05-30
   days on market $68,300 Active 54 DOM
7. 2026-04-06
   listed $72,000 Active 727-char remark

   Show marketing remark (727 chars)

   MLS# 291874 Stop apartment living! Check out this nicely renovated 3 bed/1 bath home situated on a large fully fenced lot in Kiona Village Manufactured home park. The home has been PRE INSPECTED for your convenience and comes with a 1 year home warranty for your peace of mind! Enjoy a nice spacious kitchen with plenty of room for your dining area, large living room, washer/dryer hookups, covered patio and storage shed for your lawn maintenance items. Lot rent is one of the cheapest in town at $545/month and includes water/sewer/garbage. Pets are allowed with no weight restrictions. Conveniently located just minutes to West/South Richland and Benton City. Call your favorite Realtor today for your own private showing!

ⓘ 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 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 · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,270
• − Mortgage interest: −$3,826
• − Property taxes: −$1,024
• − Insurance: −$342
• − Repairs & maintenance: −$1,542
• − Management: −$1,542
• − Depreciation: −$1,987
• Taxable income: $9,008
• Est. tax owed @ 24.0%: −$2,162
• After-tax cash flow: $7,397/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 — Benton City

• Score: 69/100
• State rank: #258
• US rank: #8516

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,157

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 (66%)
• Race & ethnicity: White 66% Hispanic / Latino 28% Two or more races 14% Native American 2%
• Hispanic origin (detail): Mexican 24%
• Common ancestry: Iranian 4% Portuguese 2% Slovak 2%
• Foreign-born: 11% · Canada
• Languages at home: 83% English-only · Spanish 16%

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: ▼ -82.66%
• Current HPI: 275.7841
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-04-06 Listed $72,000 PACMLS

Property tax history

+2.4%/yr

Latest (2026): $94 · -2.5% YoY. Source: county tax records.