1221 Arkansas Dr · Walla Walla, WA 99362

$154,500

2 bd · 2.0 ba · 809 sqft · Manufactured public records · 57 Days on market

Built 2023 Good condition $191/sqft · 244% above area ↓ 3% since listing

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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 +17.8/30.0
• ARV discount +7.5/15.0
• DSCR +5.6/10.0
• 1% rule +4.2/10.0
• 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

Welcome to this beautifully maintained, newer manufactured home where thoughtful design meets modern comfort. Purchased in 2025 & gently lived in by its original owner, this residence offers a near-new experience w/ a host of tasteful upgrades already in place. Step inside to an inviting open-concept layout, where a spacious living & dining area seamlessly connects to a bright, well-appointed kitchen. The stylish kitchen features ample cabinetry, generous counter space, a tile backsplash, stainless steel appliances, & a central island w/ bar seating & storage—perfect for casual dining & entertaining alike. The primary suite is complete w/ a large closet &

Key facts

• Bright kitchen
• Large closet
• Tiled backsplash

Tags

• OPEN-CONCEPT LAYOUT
• BRIGHT KITCHEN
• TILED BACKSPLASH
• STAINLESS STEEL APPLIANCES
• ISLAND WITH BAR SEATING
• LARGE CLOSET

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $154k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $126 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $142k (8.0% below list).
• Recommended offer: $142k (8.0% below list) — sets the bar for 1% rule.
• Cap rate 7.3% 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); 427 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 46d 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 57 days — a 3% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $142,082 (8.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 0.92% ✗
• Cap rate: 7.27%
• Cash-on-cash: 3.51%
• DSCR: 1.16
• GRM: 9.1

CMA / ARV

• ARV (median comp): $44,929
• List price: $154,500
• Delta: 243.87%
• Verdict: OVERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1253 Arkansas Dr	0.07mi	2/1.0	800 (-1%)	6mo	$44,900	$56	86
1308 Samuel Dr	0.09mi	2/1.0	826 (+2%)	5mo	$45,000	$54	84
1205 Arkansas Dr	0.04mi	2/1.0	840 (+4%)	12mo	$65,000	$77	78
1315 Dixie Ln	0.29mi	2/2.0	924 (+14%)	1mo	$44,000	$48	62
1306 Dixie Ln	0.31mi	2/1.0	784 (-3%)	23mo	$15,000	$19	57
1311 Dixie Ln	0.29mi	2/1.0	752 (-7%)	20mo	$56,000	$74	54
1308 Fort Ln	0.35mi	2/2.0	924 (+14%)	10mo	$18,500	$20	52
1309 Tollgate Ln	0.26mi	2/1.0	882 (+9%)	23mo	$17,000	$19	50
1317 Fort Ln	0.33mi	2/1.0	924 (+14%)	21mo	$49,000	$53	40

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: -11.4%
• Equity multiple: 0.59×
• Total profit: $-17,859
• Equity at exit: $23,036

10-year hold

• IRR: -3.1%
• Equity multiple: 0.80×
• Total profit: $-8,732
• Equity at exit: $13,358

Cash invested: $43,260 (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: 427
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,421 high
• Mortgage (P&I): −$810
• Tax from tax record: −$121 /mo · $1,457/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $126

Break-even live

Break-even rent $1,261

Max offer price $154,500

Occupancy floor 86%

Sensitivity live

Price	-10% $214	-5% $170	+0% $126	+5% $83	+10% $39
Rent	-10% $14	-5% $70	+0% $126	+5% $183	+10% $239
Rate	-1.0pp $204	-0.5pp $166	base $126	+0.5pp $86	+1.0pp $46

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: $38,625
• Closing costs: $4,635
• 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	45d	1	0.68mi
1914 Sunset Dr Unit 1914SUN-B Walla Walla, WA	2.0	1.5	952	$1,625	$1.71	45d	1	0.72mi
831 S 2nd Ave #2 Walla Walla, WA	2.0	1.0	620	$1,495	$2.41	45d	1	0.84mi
330 S 4th Ave Unit 1 Walla Walla, WA	1.0	1.0	550	$900	$1.64	45d	1	0.84mi
332 S 3rd Ave Walla Walla, WA	2.0	1.0	1084	$1,630	$1.50	45d	1	0.90mi
420 Catherine St #3 Walla Walla, WA	2.0	1.0	890	$1,295	$1.46	45d	1	1.09mi
101 Kenwood St #205 Walla Walla, WA	2.0	1.0	845	$1,325	$1.57	45d	1	1.15mi
2121 S 2nd Ave Apt 304 Walla Walla, WA	2.0	1.5	975	$1,530	$1.57	45d	1	1.15mi
385 Catherine St Unit 387C Walla Walla, WA	1.0	1.0	550	$950	$1.73	45d	1	1.18mi
942 NE Spitzenburg St Apt B104 College Place, WA	2.0	1.5	975	$1,530	$1.57	45d	1	1.27mi
104 S Palouse St Walla Walla, WA	1.0	1.0	800	$1,100	$1.38	45d	1	1.30mi
378 S Park St Walla Walla, WA	2.0	1.5	800	$1,200	$1.50	45d	1	1.30mi
105 N Spokane St Unit 201 Walla Walla, WA	2.0	1.0	750	$1,250	$1.67	45d	1	1.32mi
327 E Rose St Walla Walla, WA	1.0–2.0	1.0–2.0	863	$2,421	$2.80	45d	8	1.42mi

Listing history 6 events

1. 2026-05-17
   status Pending
2. 2026-03-27
   price $154,500
3. 2026-03-20
   listed $164,000 Active
4. 2025-01-17
   soldstatus $149,000 Closed
5. 2025-01-10
   status Pending
6. 2024-06-01
   listed $159,000 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: $1,457 · $121/mo
• Projected year-2 tax: $1,514 · $126/mo
• Expected delta: +$57/yr (+$5/mo · 3.9%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 9 unhealthy d/yr today · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,050
• − Mortgage interest: −$8,654
• − Property taxes: −$1,457
• − Insurance: −$772
• − Repairs & maintenance: −$1,364
• − Management: −$1,364
• − Depreciation: −$4,495
• Taxable loss: −$1,057
• Est. tax savings @ 24.0%: +$254
• After-tax cash flow: $1,771/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 · 12 photos

Good 80/100 Cosmetic rehab

This well-maintained, newer manufactured home offers a near-new experience with tasteful upgrades already in place.

Value-add opportunities

• Both landscaping — improves curb appeal and adds value
• Both painting — refreshes the home's appearance and adds value
• Both HVAC maintenance — ensures comfort and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — improves curb appeal and adds value ↑
• Both painting — refreshes the home's appearance and adds value ↑
• Both HVAC maintenance — ensures comfort and energy efficiency ↑

ⓘ 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

6 events — show timeline

• 2026-05-17 Pending — NWMLS as Distributed by MLS Grid
• 2026-03-27 Price Changed $154,500 NWMLS as Distributed by MLS Grid
• 2026-03-20 Listed $164,000 NWMLS as Distributed by MLS Grid
• 2025-01-17 Sold (MLS) $149,000 NWMLS as Distributed by MLS Grid
• 2025-01-10 Pending — NWMLS as Distributed by MLS Grid
• 2024-06-01 Listed $159,000 NWMLS as Distributed by MLS Grid

Property tax history

+61.2%/yr

Latest (2026): $1,457 · -1.3% YoY. Source: county tax records.