1155 SE Professional Mall Blvd #324 Blvd · Pullman, WA 99163

$52,000

2 bd · 1.0 ba · 720 sqft · Manufactured public records · 8 Days on market

Built 1967 Est $71k · 27% under ↓ 4% since listing

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Why this score? — see what drove the A- 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.8/10.0
• Livability +4.2/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MLS# 269433 Move in ready home! Be sure to look at this 740 sq ft 2 Bed 1 Bath home . Nice kitchen, big bedrooms, and endless amenities including: gas forced air, gas stove top and oven, gas hot water heater, updated vinyl windows, added insulation in ceiling, new flooring, all appliances including dishwasher and full size LG washer and dryer, window air conditioner and wood stove. Campus Vista park is conveniently located close to WSU campus, Koppel Farms, schools, parks, play fields, retail business and adjacent to public transportation routes. Park is pet friendly with NO breed restrictions.

Key facts

• Gas forced-air heat
• Gas water heater
• Spacious kitchen

Tags

• SPACIOUS KITCHEN
• NUMEROUS UPDATES
• GAS FORCED-AIR HEAT
• GAS RANGE AND OVEN
• GAS WATER HEATER
• UPDATED VINYL WINDOWS

Property features AI

Finance

• Financial info: Land is leased

Exterior

• Parking: No garage
• Utilities: Public water; Electricity connected; Natural gas connected; Sewer connected
• Home design: Manufactured house (single wide); One story; Manufactured home on rented lot; New construction
• Construction: Built as a Nasu 60d/12 single wide; Manufactured construction
• Exterior features: Rolled/hot mop roof; Gravel road surface; Shed(s)

Interior

• Kitchen: Dishwasher; Range / Oven; Refrigerator
• Flooring: Laminate flooring; Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Laminate countertops; Window coverings; Double-pane windows; Wood burning stove fireplace
• Laundry & utility: Washer; Dryer

🏷️ Possibly a rental listed for sale. The $52,000 price doesn't fit this home's estimated sale value (~$71,280) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $52k.

Deal economics

• At list price, monthly cash flow is $566 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $52k).
• Cap rate 19.4% vs local median 2.2% in Pullman — 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 85/100 on livability (#32 in WA, #542 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+; Watch: housing C-, employment F.
• Pullman School District (town): math 63% / reading 76% proficiency, ranked #30 of 291 in WA (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.4%/yr); 192 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 49 units permitted in Whitman County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $360 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Whitman County population projected at +57% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.4% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 3y 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.

Recommended offer $52,000

Questions for the listing agent

1. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 2.16% ✓
• Cap rate: 19.35%
• Cash-on-cash: 46.64%
• DSCR: 3.08
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $71,280
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1155 SE Professional Mall Blvd #201 Blvd	0.14mi	2/1.0	644 (-11%)	2mo	$63,500	$99	74

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 · 3.43% rent growth · sell at horizon

5-year hold

• IRR: 44.4%
• Equity multiple: 2.93×
• Total profit: $28,096
• Equity at exit: $7,753

10-year hold

• IRR: 50.5%
• Equity multiple: 6.00×
• Total profit: $72,864
• Equity at exit: $4,496

Cash invested: $14,560 (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 99163

• Rents YoY: 3.4%
• Active inventory: 192
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,122 high
• Mortgage (P&I): −$273
• Tax from tax record: −$26 /mo · $314/yr
• Insurance: −$22
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $566

Break-even live

Break-even rent $406

Max offer price $52,000

Occupancy floor 45%

Sensitivity live

Price	-10% $595	-5% $581	+0% $566	+5% $551	+10% $536
Rent	-10% $477	-5% $522	+0% $566	+5% $610	+10% $655
Rate	-1.0pp $592	-0.5pp $579	base $566	+0.5pp $552	+1.0pp $539

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: $13,000
• Closing costs: $1,560
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1016 SE Latah St Pullman, WA	2.0	1.0	735	$1,050	$1.43	45d	4	0.36mi
455 E Main St Pullman, WA	2.0–5.0	2.0–5.0	975	$539	$0.55	45d	1	0.86mi
820 NE Colorado St Pullman, WA	1.0–8.0	1.0–3.0	723	$478	$0.66	45d	62	0.95mi
305 NE Spaulding St Pullman, WA	1.0	1.0	625	$1,000	$1.60	45d	2	1.01mi
1300 NE Williams St Unit 4 Pullman, WA	1.0	1.0	550	$850	$1.55	45d	1	1.31mi
910 NE Providence Ct Pullman, WA	1.0–2.0	1.0	680	$1,250	$1.84	45d	10	1.36mi
880 NE Providence Ct Pullman, WA	1.0–3.0	1.0–2.0	852	$1,250	$1.47	45d	11	1.44mi
1365 NE Brandi Way Pullman, WA	1.0–3.0	1.0–2.5	941	$1,270	$1.35	45d	16	1.45mi
1225-1235 NW Hall Dr Pullman, WA	2.0	1.0	525	$950	$1.81	45d	1	1.47mi

Listing history 8 events

1. 2026-06-19
   days on market $52,000 Active 8 DOM
2. 2026-06-18
   days on market $52,000 Active 7 DOM
3. 2026-06-17
   days on market $52,000 Active 6 DOM
4. 2026-06-16
   days on market $52,000 Active 5 DOM
5. 2026-06-15
   days on market $52,000 Active 4 DOM
6. 2026-06-14
   days on market $52,000 Active 2 DOM
7. 2026-06-12
   remarks 699-char remark
8. 2026-06-12
   listed $52,000 Active 1 DOM

ⓘ 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: $314 · $26/mo
• Projected year-2 tax: $510 · $42/mo
• Expected delta: +$195/yr (+$16/mo · 62.1%)

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

Taxation est. · year 1

• Rental income: $13,465
• − Mortgage interest: −$2,913
• − Property taxes: −$314
• − Insurance: −$260
• − Repairs & maintenance: −$1,077
• − Management: −$1,077
• − Depreciation: −$1,513
• Taxable income: $6,311
• Est. tax owed @ 24.0%: −$1,515
• After-tax cash flow: $5,276/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: Pullman School District
• NCES district ID: 5306930
• Math proficiency: 63% ▼ -1.00%
• Reading proficiency: 76% ▲ 1.00%
• Median HH income: $29,034
• Composite: 58.15/100
• National rank: #2131
• State rank: #30 of 291 in WA

Livability — Pullman

• Score: 85/100
• State rank: #32
• US rank: #542

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pullman, WA
• County: Whitman County · 34,022 people
• City population: 34,022
• Metro: Pullman, WA
• Population (ZIP): 34,022
• Household income: $48,231
• Rent vs Own: 65.3% rent · 34.7% own
• Severe rent burden: 3453.0

Population outlook (Whitman County) Hauer SSP2

• Today (2025): 57,639 people
• By 2030: 63,440 · +10.1%
• By 2040: 75,870 · +31.6%
• By 2050: 90,294 · +56.7%
• By 2075: 131,756 · +128.6%
• By 2100: 169,239 · +193.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Two or more races 12% Asian 10% Hispanic / Latino 9% Black 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 5% Portuguese 5% Slovak 3%
• Foreign-born: 10% · China, Canada, Vietnam
• Languages at home: 86% English-only · Spanish 4% Chinese 4% Other Indo-European 2%

Political lean MEDSL · Whitman

• 2024 margin: Lean D (+9.0) · D 52.8% · R 43.8% · Other 3.4%
• 2008→2024 swing: +3.5pp toward D · 2008: 5.5pp · 2024: 9.0pp
• All cycles: 2024: D+9.0 2020: D+10.0 2016: D+0.5 2012: R+3.7 2008: D+5.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -367.44%
• Current HPI: 153.4778
• Rent YoY: ▲ 3.43%
• Metro: Pullman, 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

-3.7% since first listed

7 events — show timeline

• 2026-06-11 Listed $52,000 PACMLS
• 2023-08-04 Delisted — PACMLS
• 2023-08-04 Sold (MLS) $48,000 PACMLS
• 2023-07-25 Contingent — PACMLS
• 2023-07-24 Relisted — PACMLS
• 2023-07-14 Contingent — PACMLS
• 2023-06-20 Listed $54,000 PACMLS

Property tax history

+31.9%/yr

Latest (2026): $314 · -5.2% YoY. Source: county tax records.