495 Columbia Point Dr · Richland, WA 99352

$2,400

3 bd · 2.5 ba · 1,862 sqft · Condo public records · 22 Days on market

Built 2006

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.0/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

FOR RENT: MLS# 293262 Available now, $1000 rent credit for June move in. Wonderful low maintenance living. 2 car garage, spacious laundry room, lovely kitchen w/ stainless appliances opening to dining & great rm & separate den is also on the main level. Primary Suite w/ fireplace, walk-in closet & jetted tub. Tenant pays utilities, HOA fee paid by landlord. Washer/Dryer hook up. Located on Columbia Point near the walking paths, boat launch, restaurants, park, golf & trails and close proximity to shopping and freeways. No Pets, No smoking; 12 mo lease. All adults 18 and over to complete a full screening application. Move in fees include but may not be limited to firs

Key facts

• Walk-in closet
• Stainless appliances
• Separate den

Tags

• SPACIOUS LAUNDRY ROOM
• STAINLESS APPLIANCES
• SEPARATE DEN
• PRIMARY SUITE
• FIREPLACE
• WALK-IN CLOSET

Property features AI

Finance

• HOA & community: Curbs, sidewalks, and street lights

Exterior

• Parking: Attached 2-car garage with garage door opener; 2 total parking spaces (2 covered)
• Utilities: Public water; Sewer connected; Timed underground sprinklers for entire property
• Home design: Condominium; Two-story; New construction; Has view
• Construction: Stucco exterior; Composition roof; Crawl space / no basement; Built recently (new construction)
• Exterior features: Patio; Views; Paved road access

Interior

• Kitchen: Dishwasher; Garbage disposal; Microwave; Range / Oven
• Flooring: Carpet
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Breakfast bar; Walk-in closets; Storage space; Central vacuum; Double pane windows; Gas fireplace (1)

🏷️ Possibly a rental listed for sale. The $2,400 price doesn't fit this home's estimated sale value and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $2k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $2k).
• Recommended offer: $2k (1.5% below list) — sets the bar for market timing.
• Cap rate 845.1% 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; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $17 of loan paydown is wiped out by about $72 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 $672 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($2k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 19y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood 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 $2,364 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 101.96% ✓
• Cap rate: 845.09%
• Cash-on-cash: 2995.71%
• DSCR: 134.29
• GRM: 0.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.6% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 148.40×
• Total profit: $99,050
• Equity at exit: $358

10-year hold

• IRR: —
• Equity multiple: 307.15×
• Total profit: $205,733
• Equity at exit: $208

Cash invested: $672 (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: 0.1×

Monthly cashflow live

• Estimated rent: $2,447 medium
• Mortgage (P&I): −$13
• Tax est. 1.5%: −$3 /mo · $36/yr
• Insurance: −$1
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA est. from 1 same-building comp: −$239
• Vacancy / Maint / Mgmt: −$514
• Net cashflow: $1,611

Break-even live

Break-even rent $408

Max offer price $2,400

Occupancy floor 29%

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: $600
• Closing costs: $72
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
459 Columbia Point Dr Richland, WA	3.0	2.5	2500	$2,595	$1.04	21d	1	0.07mi
202 Falley St Richland, WA	4.0	2.0	1854	$2,650	$1.43	21d	1	1.19mi
215 Casey Ave Richland, WA	2.0	1.0	1400	$1,800	$1.29	43d	1	1.24mi
10305 Chapel Hill Blvd Pasco, WA	1.0–3.0	1.0–2.0	1045	$1,810	$1.73	13d	8	1.43mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-18
   days on market $2,400 Active 22 DOM
2. 2026-06-17
   days on market $2,400 Active 21 DOM
3. 2026-06-16
   days on market $2,400 Active 20 DOM
4. 2026-06-15
   days on market $2,400 Active 19 DOM
5. 2026-06-14
   days on market $2,400 Active 17 DOM
6. 2026-06-13
   days on market $2,400 Active 16 DOM
7. 2026-06-10
   pricedays on market $2,400 Active 14 DOM
8. 2026-06-09
   days on market $2,495 Active 13 DOM
9. 2026-06-08
   days on market $2,495 Active 12 DOM
10. 2026-06-07
    days on market $2,495 Active 11 DOM
11. 2026-06-05
    days on market $2,495 Active 8 DOM
12. 2026-06-03
    days on market $2,495 Active 7 DOM
13. 2026-06-02
    days on market $2,495 Active 6 DOM
14. 2026-06-01
    days on market $2,495 Active 5 DOM
15. 2026-05-31
    days on market $2,495 Active 4 DOM
16. 2026-05-30
    days on market $2,495 Active 3 DOM
17. 2026-05-27
    listed $2,495 Active
18. 2025-07-23
    price $2,500
19. 2025-07-10
    price $2,595
20. 2022-05-15
    listed $550,700 Active
21. 2016-07-01
    soldstatus $260,000
22. 2016-07-01
    soldstatus $260,000
23. 2016-05-25
    listed $265,000
24. 2015-01-15
    soldstatus $1,600
25. 2014-11-13
    listed $1,600
26. 2007-12-03
    soldstatus $262,950
27. 2007-10-31
    listed $262,950

ⓘ 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 7/10 Severe FEMA zone X · 75% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $29,365
• − Mortgage interest: −$134
• − Property taxes: −$36
• − Insurance: −$810
• − Repairs & maintenance: −$2,349
• − Management: −$2,349
• − HOA: −$2,868
• − Depreciation: −$70
• Taxable income: $20,749
• Est. tax owed @ 24.0%: −$4,980
• After-tax cash flow: $14,354/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

-99.1% since first listed

11 events — show timeline

• 2026-05-27 Listed $2,495 PACMLS
• 2025-07-23 Price Changed $2,500 PACMLS
• 2025-07-10 Price Changed $2,595 PACMLS
• 2022-05-15 Listed $550,700 PACMLS
• 2016-07-01 Sold (Public Records) $260,000 Public Records
• 2016-07-01 Sold (MLS) $260,000 PACMLS
• 2016-05-25 Listed $265,000 PACMLS
• 2015-01-15 Sold (MLS) $1,600 PACMLS
• 2014-11-13 Listed $1,600 PACMLS
• 2007-12-03 Sold (MLS) $262,950 PACMLS
• 2007-10-31 Listed $262,950 PACMLS

Property tax history

+1.5%/yr

Latest (2026): $3,637 · -0.8% YoY. Source: county tax records.