2622 W Clearwater Ave · Kennewick, WA 99336

$405,000

4 bd · 3.0 ba · 2,501 sqft · MultiFamily public records · 3 Days on market

Built 1959 9,147 sqft lot

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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 +24.1/30.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +5.4/10.0
• Schools +4.6/10.0
• Livability +3.9/5.0
• Rent growth +3.3/5.0
• 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

Tri-plex units in convenient Area, Please do not disturb the tenants, Unit 2624 A/ is two bedroom & two bathrooms, 2624 B come w/ washer & dryer is one bedroom & one bath, All units are occupancy, renter agreement is month to month, renters pay own electricity bill, Seller pay garbage & water. full fenced, shed in backyard and storage, buyer to verify SQFT units, write offer subject to view it, Not Lock Box.

Key facts

• Backyard shed
• Fully fenced lot
• 9,147 sq ft lot

Tags

• FULLY TENANTED TRI-PLEX
• SEPARATE ELECTRICAL METERS
• FULLY FENCED LOT
• BACKYARD SHED
• OPEN OFF-STREET SPACES
• BASEBOARD AND ELECTRIC HEAT

Property features AI

Finance

• Financial info: Property used as residential income (triplex)

Exterior

• Parking: No garage; Off-street parking
• Utilities: Public water; Electric on property; Sewer connected
• Home design: Residential income property — Triplex
• Construction: Wood siding and brick exterior; Composition roof
• Exterior features: Full fencing; Paved road access; Curbs, sidewalks, and street lights in the community

Interior

• Kitchen: Range; Refrigerator; Oven
• Flooring: Carpet; Laminate; Vinyl
• Heating & cooling: Baseboard electric heating; Wall-mounted electric cooling units
• Interior features: Range, Refrigerator, Oven; Wood burning fireplace

What this means for you Summary

Snapshot

• This is a 1×2bd/2ba + 1×1bd/1ba + 1×2bd/1ba units multifamily listed at $405k.

Deal economics

• At list price, monthly cash flow is $804 ($10k/yr) — positive. Per door: $268/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $405k).
• Cap rate 8.7% vs local median 3.3% in Kennewick — 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 78/100 on livability (#131 in WA, #2,599 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A; Watch: amenities D+, crime F.
• Kennewick School District (urban): math 43% / reading 58% proficiency, ranked #141 of 291 in WA (top 48%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Hawthorne Elementary School (474 students, 80% FRL); Highlands Middle School (750 students, 84% FRL); Southridge High School (1,641 students, 55% FRL) — zoned schools average 73% FRL vs 48% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.4%/yr); 292 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).
• At $4,192/mo this rent would consume 80% of the median local household income ($63k/yr) (locally 2605% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 12y 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.
• Current owner paid $183k; list at $405k implies a 121% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $405,000

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 1959 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.04% ✓
• Cap rate: 8.68%
• Cash-on-cash: 8.51%
• DSCR: 1.38
• GRM: 8.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.39% rent growth · sell at horizon

5-year hold

• IRR: -3.0%
• Equity multiple: 0.89×
• Total profit: $-12,884
• Equity at exit: $60,387

10-year hold

• IRR: 7.1%
• Equity multiple: 1.54×
• Total profit: $61,079
• Equity at exit: $35,017

Cash invested: $113,400 (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 99336

• Rents YoY: 3.4%
• Active inventory: 292
• Price-to-rent: 23.6×

Monthly cashflow live

• Estimated rent: $4,192 high
• Mortgage (P&I): −$2,124
• Tax from tax record: −$215 /mo · $2,581/yr
• Insurance: −$169
• HOA: −$0
• Vacancy / Maint / Mgmt: −$880
• Net cashflow: $804

Break-even live

Break-even rent $3,174

Max offer price $405,000

Occupancy floor 76%

Sensitivity live

Price	-10% $1,033	-5% $919	+0% $804	+5% $689	+10% $575
Rent	-10% $473	-5% $638	+0% $804	+5% $970	+10% $1,135
Rate	-1.0pp $1,008	-0.5pp $907	base $804	+0.5pp $699	+1.0pp $592

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

Units	Beds	Baths	Est. rent
1× unit	2	2	$1,427
1× unit	1	1	$1,338
1× unit	2	1	$1,427
Total (3 units)			$4,192

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: $101,250
• Closing costs: $12,150
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1707 W 6th Ave Unit A101 Kennewick, WA	4.0	2.0	2244	$2,150	$0.96	46d	1	1.00mi
722 S Union St Kennewick, WA	4.0	2.0	2181	$2,295	$1.05	46d	1	1.36mi

Listing history 5 events

1. 2026-05-20
   listed $405,000 Active
2. 2016-06-17
   soldstatus $183,000 436-char remark

   Show marketing remark (436 chars)

   Tri-plex units in convenient Area, Please do not disturb the tenants, Unit 2624 A/ is two bedroom & two bathrooms, 2624 B come w/ washer & dryer is one bedroom & one bath, All units are occupancy, renter agreement is month to month, renters pay own electricity bill, Seller pay garbage & water. full fenced, shed in backyard and storage, buyer to verify SQFT units, write offer subject to view it, Not Lock Box.

3. 2016-06-16
   soldstatus $183,000
4. 2016-02-19
   listed $189,900 436-char remark

   Show marketing remark (436 chars)

   Tri-plex units in convenient Area, Please do not disturb the tenants, Unit 2624 A/ is two bedroom & two bathrooms, 2624 B come w/ washer & dryer is one bedroom & one bath, All units are occupancy, renter agreement is month to month, renters pay own electricity bill, Seller pay garbage & water. full fenced, shed in backyard and storage, buyer to verify SQFT units, write offer subject to view it, Not Lock Box.

5. 2014-12-15
   listed $189,900

ⓘ 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: $2,581 · $215/mo
• Projected year-2 tax: $3,969 · $331/mo
• Expected delta: +$1,388/yr (+$116/mo · 53.8%)

ⓘ 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 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 8/10 Severe 14 unhealthy d/yr today · 15 by 30 yrs out

Taxation est. · year 1

• Rental income: $50,304
• − Mortgage interest: −$22,686
• − Property taxes: −$2,581
• − Insurance: −$2,025
• − Repairs & maintenance: −$4,024
• − Management: −$4,024
• − Depreciation: −$11,782
• Taxable income: $3,182
• Est. tax owed @ 24.0%: −$764
• After-tax cash flow: $8,885/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: Kennewick School District
• NCES district ID: 5303930
• Math proficiency: 43% ▼ -1.00%
• Reading proficiency: 58% ▬ 0.00%
• Median HH income: $54,191
• Composite: 45.56/100
• National rank: #5667
• State rank: #141 of 291 in WA

Livability — Kennewick

• Score: 78/100
• State rank: #131
• US rank: #2599

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kennewick, WA
• County: Benton County · 186,895 people
• City population: 104,655
• Metro: Kennewick-Richland, WA
• Population (ZIP): 50,735
• Household income: $62,527
• Rent vs Own: 51.7% rent · 48.3% own
• Severe rent burden: 2605.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 55% Hispanic / Latino 37% Two or more races 15% Black 3% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 31% Cuban 2%
• Common ancestry: Portuguese 4% Slovak 3% Romanian 1%
• Foreign-born: 16% · Canada, Jamaica
• Languages at home: 68% English-only · Spanish 29% Arabic 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: ▼ -408.26%
• Current HPI: 256.1143
• Rent YoY: ▲ 3.39%
• 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

+113.3% since first listed

6 events — show timeline

• 2026-05-24 Pending — PACMLS
• 2026-05-20 Listed $405,000 PACMLS
• 2016-06-17 Sold (MLS) $183,000 PACMLS
• 2016-06-16 Sold (Public Records) $183,000 Public Records
• 2016-02-19 Listed $189,900 PACMLS
• 2014-12-15 Listed $189,900 PACMLS

Property tax history

+3.5%/yr

Latest (2026): $2,581 · -1.8% YoY. Source: county tax records.