1308 Tollgate Ln · Walla Walla, WA 99362

$174,000

3 bd · 2.0 ba · 1,296 sqft · Manufactured public records · 657 Days on market

Built 2022 Good condition $134/sqft · 128% above area ↓ 3% since listing

---

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 +22.1/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +5.2/10.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +3.1/5.0
• Appreciation +0.0/10.0

Listing remarks

ALL AGES WELCOME! 1 YEAR FREE RENT WITH ACCEPTABLE OFFER! SELLER FINANCING AVAILABLE! Brand New 3 bedroom, 2 bath manufactured home, located in Rancho Villa. Open concept living w/ a spacious living & dining room. Large living room, with picture window. Kitchen has ample counter & cupboard space. Bar with seating area. Tiled backsplash. Stainless steel appliances in the kitchen are included. Neutral colors throughout. Primary bedroom w/ large closet, and bathroom w/ step-in shower. 2nd & 3rd bedrooms at the other end of the home plus full bathroom. Heat pump and Carport to be installed and some landscaping to be completed. Close to shopping, and easy access to walkin

Key facts

• 2 parking spots
• Built 2022
• Listed 656 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $174k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $280 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $174k).
• Recommended offer: $153k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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; 14 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% 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 $1k of loan paydown is wiped out by about $5k 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

• It's been on market 657 days — a 12% lower offer ($153k) is reasonable based on typical stale-listing flexibility.

Recommended offer $153,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 657 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.02% ✓
• Cap rate: 8.22%
• Cash-on-cash: 6.90%
• DSCR: 1.31
• GRM: 8.2

CMA / ARV

• ARV (median comp): $75,305
• List price: $174,000
• Delta: 131.06%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1400 Samuel Dr	0.07mi	3/2.0	1,280 (-1%)	2mo	$169,900	$133	93
1328 Samuel	0.10mi	3/2.0	1,352 (+4%)	0mo	$65,000	$48	88
1326 Samuel Dr	0.11mi	3/2.0	1,334 (+3%)	10mo	$57,900	$43	82
1312 Gloria Ln	0.11mi	3/2.0	1,344 (+4%)	9mo	$62,000	$46	81
1372 Samuel Dr	0.11mi	2/2.0 (-1)	1,334 (+3%)	6mo	$55,000	$41	80
1260 Jones Dr	0.26mi	3/2.0	1,344 (+4%)	3mo	$170,000	$126	79
1236 Jones Dr	0.22mi	3/2.0	1,214 (-6%)	1mo	$49,900	$41	78
1312 Rancho Villa Dr	0.16mi	3/2.0	1,352 (+4%)	10mo	$125,000	$92	77
1252 Jones Dr	0.25mi	3/2.0	1,344 (+4%)	7mo	$120,000	$89	76
1370 Samuel Dr	0.10mi	3/2.0	1,416 (+9%)	6mo	$135,000	$95	75
67 Jade St	0.55mi	3/2.0	1,344 (+4%)	2mo	$107,000	$80	67
1344 Gloria Ln	0.14mi	3/2.0	1,464 (+13%)	10mo	$190,000	$130	63

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 · 2.4% rent growth · sell at horizon

5-year hold

• IRR: -6.4%
• Equity multiple: 0.76×
• Total profit: $-11,452
• Equity at exit: $25,944

10-year hold

• IRR: 2.5%
• Equity multiple: 1.18×
• Total profit: $8,578
• Equity at exit: $15,044

Cash invested: $48,720 (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: 8.2×

Monthly cashflow live

• Estimated rent: $1,779 high
• Mortgage (P&I): −$912
• Tax from tax record: −$140 /mo · $1,684/yr
• Insurance: −$72
• HOA: −$0
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $280

Break-even live

Break-even rent $1,424

Max offer price $174,000

Occupancy floor 79%

Sensitivity live

Price	-10% $378	-5% $329	+0% $280	+5% $231	+10% $181
Rent	-10% $139	-5% $210	+0% $280	+5% $350	+10% $421
Rate	-1.0pp $368	-0.5pp $324	base $280	+0.5pp $235	+1.0pp $189

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: $43,500
• Closing costs: $5,220
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
208 Marjorie Pl Unit marj208 Walla Walla, WA	3.0	2.0	1080	$1,295	$1.20	44d	1	0.81mi
1908 Sunset Dr Unit 217 Walla Walla, WA	3.0	2.5	1500	$2,050	$1.37	44d	1	0.86mi
1914 Sunset Dr Unit 1914SUN-B Walla Walla, WA	2.0	1.5	952	$1,625	$1.71	44d	1	0.87mi
265 Avery St Walla Walla, WA	3.0	2.5	1268	$1,995	$1.57	44d	1	0.93mi
1339 Modoc St Walla Walla, WA	2.0	2.0	1187	$2,195	$1.85	44d	1	1.02mi
942 NE Spitzenburg St Apt B104 College Place, WA	2.0	1.5	975	$1,530	$1.57	44d	1	1.06mi
332 S 3rd Ave Walla Walla, WA	2.0	1.0	1084	$1,630	$1.50	44d	1	1.16mi
22 NE Hadley Way #1 College Place, WA	2.0	2.5	1150	$2,095	$1.82	44d	1	1.18mi
425 N 7th Ave Apt 2 Walla Walla, WA	4.0	2.5	1697	$1,795	$1.06	44d	1	1.32mi
2121 S 2nd Ave Apt 304 Walla Walla, WA	2.0	1.5	975	$1,530	$1.57	44d	1	1.34mi
420 Catherine St #3 Walla Walla, WA	2.0	1.0	890	$1,295	$1.46	44d	1	1.37mi
255 Elder Pl #3 College Place, WA	2.0	1.0	889	$1,415	$1.59	44d	1	1.39mi
310 SE 3rd St Unit 4 College Place, WA	2.0	1.0	1300	$1,300	$1.00	44d	1	1.49mi
218 E Whitman Dr Unit 1 College Place, WA	4.0	2.5	1485	$2,240	$1.51	44d	1	1.50mi

Listing history 16 events

1. 2026-06-19
   days on market $174,000 Active 657 DOM
2. 2026-06-18
   days on market $174,000 Active 656 DOM
3. 2026-06-17
   days on market $174,000 Active 655 DOM
4. 2026-06-16
   days on market $174,000 Active 654 DOM
5. 2026-06-15
   days on market $174,000 Active 653 DOM
6. 2026-06-14
   days on market $174,000 Active 651 DOM
7. 2026-06-12
   days on market $174,000 Active 650 DOM
8. 2026-06-09
   days on market $174,000 Active 647 DOM
9. 2026-06-08
   days on market $174,000 Active 646 DOM
10. 2026-06-07
    days on market $174,000 Active 645 DOM
11. 2026-06-02
    days on market $174,000 Active 640 DOM
12. 2026-06-01
    days on market $174,000 Active 639 DOM
13. 2026-05-31
    days on market $174,000 Active 638 DOM
14. 2026-05-30
    days on market $174,000 Active 637 DOM
15. 2026-02-24
    price $174,000
16. 2024-08-31
    listed $179,000 Active

ⓘ 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: $1,684 · $140/mo
• Projected year-2 tax: $1,705 · $142/mo
• Expected delta: +$21/yr (+$2/mo · 1.2%)

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

Taxation est. · year 1

• Rental income: $21,346
• − Mortgage interest: −$9,747
• − Property taxes: −$1,684
• − Insurance: −$870
• − Repairs & maintenance: −$1,708
• − Management: −$1,708
• − Depreciation: −$5,062
• Taxable income: $568
• Est. tax owed @ 24.0%: −$136
• After-tax cash flow: $3,223/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.

Condition & rehab AI · 3 photos

Good 80/100 Cosmetic rehab

This well-maintained, modern manufactured home is ready for move-in with minor improvements needed for optimal energy efficiency and curb appeal.

Value-add opportunities

• Both Install heat pump — Improves energy efficiency and comfort.
• Both Install carport — Provides additional parking and storage space.
• Both Complete landscaping — Enhances curb appeal and adds value to the property.

Renovation cost estimate screening

Value-add ROI direction

• Both Install heat pump — Improves energy efficiency and comfort. ↑
• Both Install carport — Provides additional parking and storage space. ↑
• Both Complete landscaping — Enhances curb appeal and adds value to the property. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-2.8% since first listed

2 events — show timeline

• 2026-02-24 Price Changed $174,000 NWMLS as Distributed by MLS Grid
• 2024-08-31 Listed $179,000 NWMLS as Distributed by MLS Grid

Property tax history

-1.3%/yr

Latest (2026): $1,684 · -1.3% YoY. Source: county tax records.