160 NE Rose St · College Place, WA 99362

$400,000

2 bd · 1.0 ba · 1,692 sqft · MultiFamily public records · 3 Days on market

Built 1924 0.79 ac lot $236/sqft · 70% above area Est $563k · 29% under

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Why this score? — see what drove the B 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 +26.4/30.0
• ARV discount +15.0/15.0
• DSCR +9.0/10.0
• 1% rule +6.2/10.0
• Schools +4.2/10.0
• Livability +4.1/5.0
• Rent growth +3.1/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

MLS# 279432 Multi-Family Investment Opportunity! Preliminary engineering is complete to build 3 fourplexes. There are currently 2 rentals on this property that are all occupied. The property is being sold as is. None of the manufactured homes have not had titles eliminated. One Detached 2 Car Garage is also included. Additional parcel: 350725523503 sold together. Call your agent for details! The Seller is a licensed real estate broker in Washington State.

Key facts

• Plans for four plex
• Multi family space
• 0.79 acre lot

Tags

• DETACHED 2 CAR GARAGE
• MULTI FAMILY SPACE
• PLANS FOR FOUR PLEX

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $400k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $400k).
• Cap rate 9.4% vs local median 2.5% in College Place — 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 82/100 on livability (#71 in WA, #1,277 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: employment D, amenities D-.
• College Place School District (suburban): math 41% / reading 53% proficiency, ranked #170 of 291 in WA (top 58%) — 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; 8 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).
• At $4,466/mo this rent would consume 74% of the median local household income ($72k/yr) (locally 1238% 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.
• Walla Walla County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $70k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $156k; list at $400k implies a 156% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $400,000

Questions for the listing agent

1. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.12% ✓
• Cap rate: 9.44%
• Cash-on-cash: 11.23%
• DSCR: 1.50
• GRM: 7.5

CMA / ARV

• ARV (median comp): $562,511
• List price: $400,000
• Delta: -33.33%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.4% rent growth · sell at horizon

5-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-872
• Equity at exit: $59,641

10-year hold

• IRR: 8.8%
• Equity multiple: 1.66×
• Total profit: $73,869
• Equity at exit: $34,585

Cash invested: $112,000 (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: 22.4×

Monthly cashflow live

• Estimated rent: $4,466 medium
• Mortgage (P&I): −$2,098
• Tax from tax record: −$216 /mo · $2,593/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$938
• Net cashflow: $1,048

Break-even live

Break-even rent $3,140

Max offer price $400,000

Occupancy floor 72%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.67	$4,467
Total (3 units)			$4,466

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: $100,000
• Closing costs: $12,000
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
70 NE Rose St Unit B College Place, WA	3.0	1.0	1500	$1,300	$0.87	43d	1	0.05mi
22 NE Hadley Way #1 College Place, WA	2.0	2.5	1150	$2,095	$1.82	43d	1	0.44mi
23 NW Earl Ln College Place, WA	3.0	2.5	1600	$1,845	$1.15	43d	1	0.45mi
310 SE 3rd St Unit 4 College Place, WA	2.0	1.0	1300	$1,300	$1.00	43d	1	0.54mi
24 SE 4th St College Place, WA	3.0	1.0	1270	$2,045	$1.61	43d	1	0.60mi
512 S College Ave #1 College Place, WA	3.0	1.0	1328	$1,785	$1.34	43d	1	0.68mi
418 SW 4th St Unit C College Place, WA	2.0	1.5	1150	$1,595	$1.39	43d	1	0.71mi
265 Avery St Walla Walla, WA	3.0	2.5	1268	$1,995	$1.57	43d	1	1.21mi

Listing history 20 events

1. 2026-06-19
   days on market $400,000 Active 3 DOM
2. 2026-06-18
   days on market $400,000 Active 2 DOM
3. 2026-06-17
   pricedays on marketlisting id $400,000 Active 1 DOM
4. 2026-06-08
   days on market $375,000 Active 608 DOM
5. 2026-06-07
   days on market $375,000 Active 607 DOM
6. 2026-06-05
   days on market $375,000 Active 604 DOM
7. 2026-06-03
   days on market $375,000 Active 603 DOM
8. 2026-06-02
   days on market $375,000 Active 602 DOM
9. 2026-06-01
   days on market $375,000 Active 601 DOM
10. 2026-05-31
    days on market $375,000 Active 600 DOM
11. 2026-05-30
    days on market $375,000 Active 599 DOM
12. 2025-10-08
    price $375,000 459-char remark

    Show marketing remark (459 chars)

    MLS# 279432 Multi-Family Investment Opportunity! Preliminary engineering is complete to build 3 fourplexes. There are currently 2 rentals on this property that are all occupied. The property is being sold as is. None of the manufactured homes have not had titles eliminated. One Detached 2 Car Garage is also included. Additional parcel: 350725523503 sold together. Call your agent for details! The Seller is a licensed real estate broker in Washington State.

13. 2025-02-11
    price $400,000 459-char remark

    Show marketing remark (459 chars)

    MLS# 279432 Multi-Family Investment Opportunity! Preliminary engineering is complete to build 3 fourplexes. There are currently 2 rentals on this property that are all occupied. The property is being sold as is. None of the manufactured homes have not had titles eliminated. One Detached 2 Car Garage is also included. Additional parcel: 350725523503 sold together. Call your agent for details! The Seller is a licensed real estate broker in Washington State.

14. 2024-10-08
    listed $470,000 Active 459-char remark

    Show marketing remark (459 chars)

    MLS# 279432 Multi-Family Investment Opportunity! Preliminary engineering is complete to build 3 fourplexes. There are currently 2 rentals on this property that are all occupied. The property is being sold as is. None of the manufactured homes have not had titles eliminated. One Detached 2 Car Garage is also included. Additional parcel: 350725523503 sold together. Call your agent for details! The Seller is a licensed real estate broker in Washington State.

15. 2023-09-06
    status Active
16. 2023-08-12
    historical
17. 2023-03-10
    price $400,000
18. 2023-02-21
    listed $450,000 Active
19. 2007-01-03
    soldstatus $156,000
20. 2005-04-22
    soldstatus $72,894

ⓘ 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: $2,593 · $216/mo
• Projected year-2 tax: $3,920 · $327/mo
• Expected delta: +$1,327/yr (+$111/mo · 51.2%)

ⓘ 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 3/10 Moderate
• 🌡 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 11 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $53,592
• − Mortgage interest: −$22,406
• − Property taxes: −$2,593
• − Insurance: −$2,000
• − Repairs & maintenance: −$4,287
• − Management: −$4,287
• − Depreciation: −$11,636
• Taxable income: $6,382
• Est. tax owed @ 24.0%: −$1,532
• After-tax cash flow: $11,042/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: College Place School District
• NCES district ID: 5301470
• Math proficiency: 41% ▲ 2.00%
• Reading proficiency: 53% ▬ 0.00%
• Median HH income: $48,045
• Composite: 42.23/100
• National rank: #6997
• State rank: #170 of 291 in WA

Livability — College Place

• Score: 82/100
• State rank: #71
• US rank: #1277

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: College Place, WA
• County: Walla Walla County · 52,990 people
• City population: 10,137
• 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

+414.4% since first listed

9 events — show timeline

• 2025-10-08 Price Changed $375,000 PACMLS
• 2025-02-11 Price Changed $400,000 PACMLS
• 2024-10-08 Listed $470,000 PACMLS
• 2023-09-06 Relisted — PACMLS
• 2023-08-12 Delisted — PACMLS
• 2023-03-10 Price Changed $400,000 PACMLS
• 2023-02-21 Listed $450,000 PACMLS
• 2007-01-03 Sold (Public Records) $156,000 Public Records
• 2005-04-22 Sold (Public Records) $72,894 Public Records

Property tax history

+5.9%/yr

Latest (2026): $2,593 · +13.2% YoY. Source: county tax records.