3121 W Hood Ave Unit E103 · Kennewick, WA 99336

$180,000

3 bd · 1.0 ba · 850 sqft · Condo public records · 13 Days on market

Built 1976 $212/sqft · at area comps Est $178k · at est.

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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 +8.4/30.0
• ARV discount +7.0/15.0
• Schools +4.6/10.0
• 1% rule +3.9/10.0
• Livability +3.9/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

MLS# 285040 Investment Condo opportunity in central Kennewick! This well-maintained 2-bedroom, 1-bathroom condo with a 1-car garage is located in a professionally managed community, tenants have access to the pool. The unit features a functional layout, 2 bedrooms, and private garage parking. Conveniently located near shopping, dining, and highway access—this is an ideal low-maintenance asset to add to your portfolio.

Key facts

• Community pool
• Ground floor
• Centrally located

Tags

• 1 CAR GARAGE
• GATED COMMON AREA
• COMMUNITY POOL
• BASKETBALL COURT
• GROUND FLOOR
• CENTRALLY LOCATED

Property features AI

Finance

• Financial info: Annual tax amount reported

Exterior

• Parking: Detached garage with one covered parking space (one total parking space)
• Home design: Condominium; One story (single-level); New construction
• Construction: Built as new construction
• Exterior features: Located in the IVY CLUB CONDOS subdivision; Residential zoning

Interior

• Bathrooms: One full bathroom
• Interior features: No basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath condo listed at $180k.

Deal economics

• At list price, monthly cash flow is $-162 ($-2k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $160k (11.1% below list).
• Recommended offer: $160k (11.1% below list) — sets the bar for 1% rule.
• Cap rate 5.2% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 1,532 units permitted in Benton County in 2024 (389 in 5+ unit buildings).
• This rent runs 31% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Benton County population projected at +32% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 9y 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.

Risks & watch-outs

• 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 $160,034 (11.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.89% ✗
• Cap rate: 5.21%
• Cash-on-cash: -3.85%
• DSCR: 0.83
• GRM: 9.4

CMA / ARV

• ARV (median comp): $177,865
• List price: $180,000
• Delta: -4.42%
• Verdict: FAIR
• Comps: 16 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -22.2%
• Equity multiple: 0.23×
• Total profit: $-38,705
• Equity at exit: $26,839

10-year hold

• IRR: -14.9%
• Equity multiple: 0.13×
• Total profit: $-43,811
• Equity at exit: $15,563

Cash invested: $50,400 (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: 9.4×

Monthly cashflow live

• Estimated rent: $1,600 high
• Mortgage (P&I): −$944
• Tax from tax record: −$97 /mo · $1,165/yr
• Insurance: −$75
• HOA est. from 3 same-building comps: −$310
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $-162

Break-even live

Break-even rent $1,805

Max offer price $151,421

Occupancy floor —

Sensitivity live

Price	-10% $-60	-5% $-111	+0% $-162	+5% $-213	+10% $-264
Rent	-10% $-288	-5% $-225	+0% $-162	+5% $-99	+10% $-35
Rate	-1.0pp $-71	-0.5pp $-116	base $-162	+0.5pp $-208	+1.0pp $-256

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
N Johnson St Kennewick, WA	2.0	1.5	1100	$1,450	$1.32	23d	3	0.18mi
2525 W Grand Ronde Ave Kennewick, WA	2.0–3.0	1.0–2.0	1044	$1,595	$1.53	15d	4	0.39mi
12 S Morain St Kennewick, WA	1.0–3.0	1.0	604	$1,599	$2.65	15d	3	0.46mi
119 S Conway Pl Kennewick, WA	2.0	1.0	711	$1,200	$1.69	23d	1	0.49mi
130 S Conway Pl Kennewick, WA	2.0	1.0	852	$1,299	$1.52	15d	1	0.51mi
3120 W 4th Ave Apt 120 Kennewick, WA	2.0	1.0	963	$1,625	$1.69	15d	1	0.52mi
3120 W 4th Ave Unit 360 Kennewick, WA	2.0	1.0	963	$1,550	$1.61	45d	1	0.52mi
3120 W 4th Ave Kennewick, WA	2.0	1.0	963	$1,550	$1.61	15d	1	0.53mi
325 S Johnson St Kennewick, WA	2.0	1.5	1100	$1,495	$1.36	45d	1	0.53mi
3703 W Kennewick Ave Kennewick, WA	1.0–2.0	1.0	782	$1,594	$2.04	15d	8	0.53mi
1013 N Neel St Kennewick, WA	2.0	1.0	1000	$1,650	$1.65	45d	1	0.60mi
89 N Waverly Pl Apt E Kennewick, WA	2.0	1.0	1000	$1,250	$1.25	45d	1	0.64mi
4108 W Albany Ave Unit A-D Kennewick, WA	2.0	1.5	945	$1,395	$1.48	45d	1	0.64mi
400 S Morain St #7 Kennewick, WA	3.0	2.5	1100	$1,500	$1.36	23d	1	0.65mi
455 S Morain St Kennewick, WA	2.0	1.0	775	$1,950	$2.52	45d	1	0.70mi
500 S Conway Pl Unit 500 Kennewick, WA	2.0	1.0	950	$1,500	$1.58	45d	1	0.75mi
440 N Volland St Kennewick, WA	1.0–3.0	1.0–1.5	958	$1,600	$1.67	15d	7	0.78mi
609 N Tweedt St Kennewick, WA	2.0	1.0	950	$1,295	$1.36	15d	1	0.81mi
3113 W 7th Ave Unit D110 Kennewick, WA	2.0	2.5	1000	$1,750	$1.75	15d	1	0.82mi
3426 W 7th Ave Unit A130 Kennewick, WA	2.0	2.0	1000	$1,650	$1.65	45d	1	0.82mi
3426 W 7th Ave Kennewick, WA	2.0	2.0	1000	$1,600	$1.60	23d	1	0.82mi
3708 W 6th Ave Unit B Kennewick, WA	2.0	1.0	918	$1,325	$1.44	45d	1	0.83mi
4421 W Hood Ave Kennewick, WA	2.0	1.5	942	$1,412	$1.50	15d	3	0.85mi
801 N Tweedt St Kennewick, WA	1.0–2.0	1.0	779	$1,350	$1.73	23d	3	0.87mi
513 S Anderson St Kennewick, WA	2.0	1.0	720	$1,495	$2.08	23d	1	0.87mi
445 N Volland St Kennewick, WA	1.0–2.0	1.0	735	$1,294	$1.76	15d	7	0.98mi
200 S Union St Kennewick, WA	2.0	1.0–1.5	860	$1,348	$1.57	15d	2	0.98mi
4711 W Metaline Ave Kennewick, WA	1.0–2.0	1.0	777	$1,525	$1.96	23d	7	1.09mi
318 N Arthur St Kennewick, WA	2.0–3.0	2.0	1113	$1,975	$1.77	15d	1	1.11mi
E 6th Ave Kennewick, WA	2.0	1.0	1100	$1,500	$1.36	45d	1	1.11mi
460 N Arthur St Kennewick, WA	2.0	1.0–2.0	749	$1,700	$2.27	15d	7	1.12mi
1216 N Williams St Unit B Kennewick, WA	2.0	1.5	1080	$1,700	$1.57	45d	1	1.16mi
507 N Arthur St Kennewick, WA	1.0–2.0	1.0	809	$1,399	$1.73	15d	6	1.22mi
465 N Arthur St Kennewick, WA	2.0	1.0	717	$1,550	$2.16	45d	1	1.23mi
1619 W 5th Ave Unit A Kennewick, WA	2.0	1.0	981	$1,450	$1.48	23d	1	1.25mi
530 N Edison St Kennewick, WA	1.0–2.0	1.0	700	$1,657	$2.37	15d	11	1.27mi
2652 W 15th Ave Kennewick, WA	2.0–3.0	2.0	1152	$1,899	$1.65	15d	5	1.31mi
1702 W 7th Pl Unit B Kennewick, WA	2.0	1.0	950	$1,050	$1.11	45d	1	1.32mi
5100 W Clearwater Ave Kennewick, WA	1.0–3.0	1.0–2.0	1068	$1,843	$1.72	15d	6	1.32mi
1102 N Cleveland St Unit D Kennewick, WA	2.0	1.0	936	$1,250	$1.34	45d	1	1.32mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-21
   days on market $180,000 Active 13 DOM
2. 2026-06-18
   days on market $180,000 Active 10 DOM
3. 2026-06-17
   days on market $180,000 Active 9 DOM
4. 2026-06-16
   days on market $180,000 Active 8 DOM
5. 2026-06-15
   days on market $180,000 Active 7 DOM
6. 2026-06-14
   days on market $180,000 Active 5 DOM
7. 2026-06-13
   days on market $180,000 Active 4 DOM
8. 2026-06-10
   days on market $180,000 Active 2 DOM
9. 2026-06-09
   remarks 648-char remark
10. 2026-06-09
    pricedays on marketlisting id $180,000 Active 1 DOM
11. 2026-06-08
    days on market $170,000 Active 357 DOM
12. 2026-06-07
    days on market $170,000 Active 356 DOM
13. 2026-06-05
    days on market $170,000 Active 353 DOM
14. 2026-06-03
    days on market $170,000 Active 352 DOM
15. 2026-06-02
    days on market $170,000 Active 351 DOM
16. 2026-06-01
    days on market $170,000 Active 350 DOM
17. 2026-05-31
    days on market $170,000 Active 349 DOM
18. 2026-05-30
    days on market $170,000 Active 348 DOM
19. 2025-06-13
    listed $170,000 Active 428-char remark

    Show marketing remark (428 chars)

    MLS# 285040 Investment Condo opportunity in central Kennewick! This well-maintained 2-bedroom, 1-bathroom condo with a 1-car garage is located in a professionally managed community, tenants have access to the pool. The unit features a functional layout, 2 bedrooms, and private garage parking. Conveniently located near shopping, dining, and highway access—this is an ideal low-maintenance asset to add to your portfolio.

20. 2022-05-11
    price $1,350
21. 2022-03-04
    soldstatus $164,000 671-char remark

    Show marketing remark (671 chars)

    MLS# 258668 Gorgeous little bungalow! This 2 bed, 1 bath features a New Dishwasher, New Microwave, New Interior Paint and New Luxury Vinyl Plank Flooring! It also features a 1 car garage with garage door opener. Enjoy the luxuries of this condo by having your yard work worries long gone, a dip in the pool or a game of hoops at the gated and secured common area. This ground floor condo also allows ease for walking your pup! The Ivy Club Condos are centrally located to shopping and entertainment! HOA dues are $225/month that include water, sewer, irrigation, trash and pool maintenance. This home is darling! Buyer to verify schools and HOA rules and regulations.

22. 2022-01-06
    listed $159,000 671-char remark

    Show marketing remark (671 chars)

    MLS# 258668 Gorgeous little bungalow! This 2 bed, 1 bath features a New Dishwasher, New Microwave, New Interior Paint and New Luxury Vinyl Plank Flooring! It also features a 1 car garage with garage door opener. Enjoy the luxuries of this condo by having your yard work worries long gone, a dip in the pool or a game of hoops at the gated and secured common area. This ground floor condo also allows ease for walking your pup! The Ivy Club Condos are centrally located to shopping and entertainment! HOA dues are $225/month that include water, sewer, irrigation, trash and pool maintenance. This home is darling! Buyer to verify schools and HOA rules and regulations.

23. 2020-11-13
    soldstatus $115,000
24. 2020-10-02
    listed $115,000
25. 2017-04-23
    soldstatus $68,000
26. 2017-04-21
    soldstatus $68,000
27. 2017-04-07
    listed $69,000

ⓘ 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: $1,165 · $97/mo
• Projected year-2 tax: $1,764 · $147/mo
• Expected delta: +$599/yr (+$50/mo · 51.4%)

ⓘ 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: $19,204
• − Mortgage interest: −$10,083
• − Property taxes: −$1,165
• − Insurance: −$900
• − Repairs & maintenance: −$1,536
• − Management: −$1,536
• − HOA: −$3,720
• − Depreciation: −$5,236
• Taxable loss: −$4,973
• Est. tax savings @ 24.0%: +$1,194
• After-tax cash flow: $-748/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

+160.9% since first listed

10 events — show timeline

• 2026-06-08 Listed $180,000 PACMLS
• 2025-06-13 Listed $170,000 PACMLS
• 2022-05-11 Price Changed $1,350 RENT.
• 2022-03-04 Sold (MLS) $164,000 PACMLS
• 2022-01-06 Listed $159,000 PACMLS
• 2020-11-13 Sold (MLS) $115,000 PACMLS
• 2020-10-02 Listed $115,000 PACMLS
• 2017-04-23 Sold (MLS) $68,000 PACMLS
• 2017-04-21 Sold (Public Records) $68,000 Public Records
• 2017-04-07 Listed $69,000 PACMLS

Property tax history

+6.8%/yr

Latest (2026): $1,165 · -5.6% YoY. Source: county tax records.