920-924 Burgundy Pl · Prosser, WA 99350

$370,000

2 bd · 2.0 ba · 1,744 sqft · MultiFamily public records · 7 Days on market

Built 1978 0.31 ac lot

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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 +14.4/30.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

MLS# 293734 Investor opportunity in Prosser! This single-story duplex sits on a generous 1/3-acre lot and offers immediate income potential. The property features a tenant-occupied 2-bedroom, 1-bath unit providing established rental income, while the 3-bedroom, 1-bath unit has recently been updated with fresh interior paint, new carpet, and new windows. Ideal for investors seeking cash flow or owner-occupants looking to offset their mortgage by living in one unit and renting the other. With separate living spaces, recent improvements, and room to enjoy on a large lot, this duplex presents a versatile investment opportunity with long-term potential.

Key facts

• Recently updated
• New carpet
• Large lot

Tags

• RECENTLY UPDATED
• FRESH INTERIOR PAINT
• NEW CARPET
• NEW WINDOWS
• LARGE LOT

Property features AI

Exterior

• Parking: Detached garage; 1 covered parking space (1 garage space, 1 total parking space)
• Utilities: Public water; Sewer connected; Electricity connected
• Home design: Residential income property; Duplex
• Construction: Wood siding and frame construction; Composition roof
• Exterior features: Patio; Partial fencing; Cul-de-sac lot; Paved road access

Interior

• Kitchen: Dishwasher; Refrigerator; Range hood; Range; Oven
• Heating & cooling: Electric heating; Baseboard heating; Wall unit cooling
• Interior features: Ceiling fan(s); Drapes

What this means for you Summary

Snapshot

• This is a 3 × 1-bed/?-bath units multifamily listed at $370k.

Deal economics

• At list price, monthly cash flow is $75 ($895/yr) — positive. Per door: $25/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $310k (16.2% below list).
• Recommended offer: $310k (16.2% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 2.8% in Prosser — 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 80/100 on livability (#91 in WA, #1,785 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: schools C-, amenities D+, employment D.
• Prosser School District (town): math 36% / reading 46% proficiency, ranked #208 of 291 in WA (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 231 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $3k of loan paydown is wiped out by about $11k 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.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major 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 $310,000 (16.2% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.84% ✗
• Cap rate: 6.53%
• Cash-on-cash: 0.86%
• DSCR: 1.04
• GRM: 9.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -14.9%
• Equity multiple: 0.47×
• Total profit: $-55,272
• Equity at exit: $55,168

10-year hold

• IRR: -6.4%
• Equity multiple: 0.59×
• Total profit: $-42,280
• Equity at exit: $31,991

Cash invested: $103,600 (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 99350

• Home prices YoY: -31.6%
• Active inventory: 231
• Price-to-rent: 29.8×

Monthly cashflow live

• Estimated rent: $3,100 medium
• Mortgage (P&I): −$1,940
• Tax from tax record: −$280 /mo · $3,359/yr
• Insurance: −$154
• HOA: −$0
• Vacancy / Maint / Mgmt: −$651
• Net cashflow: $75

Break-even live

Break-even rent $3,006

Max offer price $370,000

Occupancy floor 93%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	1	—	$3,099
Total (3 units)			$3,100

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: $92,500
• Closing costs: $11,100
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
915-959 Hidden Lane PR Prosser, WA	3.0	2.5	1905	$2,350	$1.23	21d	1	0.85mi
50 Molly Rose Ct Prosser, WA	3.0	2.0	1580	$2,400	$1.52	43d	1	0.86mi

Listing history 8 events

1. 2026-06-17
   status $370,000 Pending 7 DOM
2. 2026-06-17
   days on market $370,000 Active 7 DOM
3. 2026-06-16
   days on market $370,000 Active 6 DOM
4. 2026-06-15
   days on market $370,000 Active 5 DOM
5. 2026-06-15
   days on market $370,000 Active 4 DOM
6. 2026-06-13
   days on market $370,000 Active 3 DOM
7. 2026-06-12
   remarks 656-char remark
8. 2026-06-12
   listed $370,000 Active 2 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: $3,359 · $280/mo
• Projected year-2 tax: $3,626 · $302/mo
• Expected delta: +$267/yr (+$22/mo · 7.9%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 13 unhealthy d/yr today · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,200
• − Mortgage interest: −$20,726
• − Property taxes: −$3,359
• − Insurance: −$1,850
• − Repairs & maintenance: −$2,976
• − Management: −$2,976
• − Depreciation: −$10,764
• Taxable loss: −$5,451
• Est. tax savings @ 24.0%: +$1,308
• After-tax cash flow: $2,203/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: Prosser School District
• NCES district ID: 5306900
• Math proficiency: 36% ▼ -2.00%
• Reading proficiency: 46% ▬ 0.00%
• Median HH income: $52,089
• Composite: 37.89/100
• National rank: #8699
• State rank: #208 of 291 in WA

Livability — Prosser

• Score: 80/100
• State rank: #91
• US rank: #1785

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Prosser, WA
• Population (ZIP): 14,278

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

• Race & ethnicity: White 50% Hispanic / Latino 46% Two or more races 17% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 43%
• Common ancestry: Italian 3% Iranian 3% Slovak 2%
• Foreign-born: 15% · Canada
• Languages at home: 64% English-only · Spanish 34% Other Asian/Pacific 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: ▼ -118.73%
• Current HPI: 256.9999
• 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

• 2026-06-11 Listed $370,000 PACMLS

Property tax history

+8.2%/yr

Latest (2026): $3,359 · -2.6% YoY. Source: county tax records.