5820 W Park Pl · Pasco, WA 99301

$390,000

3 bd · 2.0 ba · 2,188 sqft · SingleFamily public records · 258 Days on market

Built 1971 0.31 ac lot $178/sqft · 33% below area Est $584k · 33% under ↓ 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 +19.1/30.0
• ARV discount +15.0/15.0
• DSCR +6.0/10.0
• 1% rule +5.1/10.0
• Livability +4.0/5.0
• Schools +3.4/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MLS ID 287958 Charming Central Pasco Home with Character & Potential. This spacious 2,188 sq. ft. home in the heart of central Pasco offers solid bones, system updates, and a wealth of potential for personalization. Major investments have already been made, including a newer HVAC system and water heater (8 years), updated roof and insulation (4 years), gutters, and solar panels for energy efficiency—leaving the finishing touches to your vision. Step inside and you’ll find 3 comfortable bedrooms, a kitchen with ample counter space, and a convenient laundry area. The extra-deep one-car garage provides plenty of storage or a workbench for projects. The true centerpiece of this home is the massive bonus room, a versatile retreat that blends history with function. Featuring barn wood dating back to the 1860s, a wet bar, and a half bathroom, this space is perfect for game days, holiday gatherings, or special events. Sliding doors open to a large concrete patio, where the flat, fenced yard invites summer BBQs, lawn games, or even a future garden. This home is packed with character, thoughtful updates, and endless possibilities—just waiting for your personal touch to make it shine.

Key facts

• Massive bonus room
• Large concrete patio
• Wet bar

Tags

• NEWER HVAC SYSTEM
• UPDATED ROOF
• SOLAR PANELS
• MASSIVE BONUS ROOM
• WET BAR
• LARGE CONCRETE PATIO

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $390k.

Deal economics

• At list price, monthly cash flow is $414 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $390k).
• Recommended offer: $343k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 3.0% in Pasco — 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 (#104 in WA, #1,999 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: crime D+, schools D-.
• Pasco School District (suburban): math 31% / reading 40% proficiency, ranked #242 of 291 in WA (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.0%/yr); 705 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 981 units permitted in Franklin County in 2024 (517 in 5+ unit buildings).
• At $3,936/mo this rent would consume 54% of the median local household income ($88k/yr) (locally 1556% 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.
• Franklin County population projected at +50% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 258 days — a 12% lower offer ($343k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $343,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 258 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 D 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 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: 1.01% ✓
• Cap rate: 7.57%
• Cash-on-cash: 4.55%
• DSCR: 1.20
• GRM: 8.3

CMA / ARV

• ARV (median comp): $584,425
• List price: $390,000
• Delta: -33.27%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
821 Rd 57 Ct	0.12mi	4/2.5 (+1)	2,191 (+0%)	9mo	$599,000	$273	80
5016 W Park St	0.52mi	3/2.0	2,130 (-3%)	0mo	$443,000	$208	71
1004 N Road 55	0.25mi	4/3.0 (+1)	2,220 (+2%)	8mo	$485,000	$218	70
5201 W Henry Ct	0.44mi	3/2.0	2,105 (-4%)	8mo	$707,000	$336	66
419 Rd 52	0.59mi	3/2.5	2,250 (+3%)	1mo	$990,000	$440	65
6119 W Court St	0.43mi	3/2.0	2,391 (+9%)	9mo	$543,000	$227	57
5105 W Sylvester St	0.50mi	4/2.0 (+1)	2,064 (-6%)	9mo	$450,000	$218	55
1511 59th Ct	0.39mi	4/2.0 (+1)	2,496 (+14%)	0mo	$645,000	$258	53
5307 W Irving St	0.39mi	4/2.5 (+1)	2,508 (+15%)	1mo	$485,000	$193	50
1305 Road 68	0.61mi	3/2.0	1,917 (-12%)	2mo	$500,000	$261	49
1606 Road 68	0.74mi	3/2.0	2,506 (+14%)	3mo	$469,850	$187	39
5210 Black Belle Ct	0.48mi	4/3.0 (+1)	2,496 (+14%)	9mo	$840,000	$337	38

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 · 1.99% rent growth · sell at horizon

5-year hold

• IRR: -10.3%
• Equity multiple: 0.63×
• Total profit: $-40,728
• Equity at exit: $58,150

10-year hold

• IRR: -2.4%
• Equity multiple: 0.84×
• Total profit: $-17,192
• Equity at exit: $33,720

Cash invested: $109,200 (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 99301

• Rents YoY: 2.0%
• Active inventory: 705
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $3,936 medium
• Mortgage (P&I): −$2,045
• Tax est. 1.5%: −$488 /mo · $5,850/yr
• Insurance: −$162
• HOA: −$0
• Vacancy / Maint / Mgmt: −$827
• Net cashflow: $414

Break-even live

Break-even rent $3,412

Max offer price $390,000

Occupancy floor 84%

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: $97,500
• Closing costs: $11,700
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6709 W Octave St Pasco, WA	4.0	2.5	2150	$6,500	$3.02	43d	1	0.53mi
5305 W Jay St Unit 5305 B Pasco, WA	3.0	2.0	1445	$2,195	$1.52	43d	1	0.93mi
5316 W Wernett Rd Unit B Pasco, WA	3.0	2.0	1445	$2,095	$1.45	13d	1	0.95mi

Listing history 17 events

1. 2026-06-18
   days on market $390,000 Active 258 DOM
2. 2026-06-17
   days on market $390,000 Active 257 DOM
3. 2026-06-16
   days on market $390,000 Active 256 DOM
4. 2026-06-15
   days on market $390,000 Active 255 DOM
5. 2026-06-14
   days on market $390,000 Active 253 DOM
6. 2026-06-13
   days on market $390,000 Active 252 DOM
7. 2026-06-10
   days on market $390,000 Active 250 DOM
8. 2026-06-09
   days on market $390,000 Active 249 DOM
9. 2026-06-08
   days on market $390,000 Active 248 DOM
10. 2026-06-07
    days on market $390,000 Active 247 DOM
11. 2026-06-02
    days on market $390,000 Active 242 DOM
12. 2026-06-01
    days on market $390,000 Active 241 DOM
13. 2026-05-31
    days on market $390,000 Active 240 DOM
14. 2026-05-30
    pricedays on market $390,000 Active 239 DOM
15. 2026-02-04
    price $419,900 1216-char remark

    Show marketing remark (1216 chars)

    MLS ID 287958 Charming Central Pasco Home with Character & Potential. This spacious 2,188 sq. ft. home in the heart of central Pasco offers solid bones, system updates, and a wealth of potential for personalization. Major investments have already been made, including a newer HVAC system and water heater (8 years), updated roof and insulation (4 years), gutters, and solar panels for energy efficiency—leaving the finishing touches to your vision. Step inside and you’ll find 3 comfortable bedrooms, a kitchen with ample counter space, and a convenient laundry area. The extra-deep one-car garage provides plenty of storage or a workbench for projects. The true centerpiece of this home is the massive bonus room, a versatile retreat that blends history with function. Featuring barn wood dating back to the 1860s, a wet bar, and a half bathroom, this space is perfect for game days, holiday gatherings, or special events. Sliding doors open to a large concrete patio, where the flat, fenced yard invites summer BBQs, lawn games, or even a future garden. This home is packed with character, thoughtful updates, and endless possibilities—just waiting for your personal touch to make it shine.

16. 2025-10-03
    listed $429,900 Active 1216-char remark

    Show marketing remark (1216 chars)

    MLS ID 287958 Charming Central Pasco Home with Character & Potential. This spacious 2,188 sq. ft. home in the heart of central Pasco offers solid bones, system updates, and a wealth of potential for personalization. Major investments have already been made, including a newer HVAC system and water heater (8 years), updated roof and insulation (4 years), gutters, and solar panels for energy efficiency—leaving the finishing touches to your vision. Step inside and you’ll find 3 comfortable bedrooms, a kitchen with ample counter space, and a convenient laundry area. The extra-deep one-car garage provides plenty of storage or a workbench for projects. The true centerpiece of this home is the massive bonus room, a versatile retreat that blends history with function. Featuring barn wood dating back to the 1860s, a wet bar, and a half bathroom, this space is perfect for game days, holiday gatherings, or special events. Sliding doors open to a large concrete patio, where the flat, fenced yard invites summer BBQs, lawn games, or even a future garden. This home is packed with character, thoughtful updates, and endless possibilities—just waiting for your personal touch to make it shine.

17. 2025-08-13
    price $434,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥100°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: $47,229
• − Mortgage interest: −$21,846
• − Property taxes: −$5,850
• − Insurance: −$1,950
• − Repairs & maintenance: −$3,778
• − Management: −$3,778
• − Depreciation: −$11,345
• Taxable loss: −$1,319
• Est. tax savings @ 24.0%: +$317
• After-tax cash flow: $5,285/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: Pasco School District
• NCES district ID: 5306570
• Math proficiency: 31% ▬ 0.00%
• Reading proficiency: 40% ▬ 0.00%
• Median HH income: $54,454
• Composite: 33.78/100
• National rank: #10401
• State rank: #242 of 291 in WA

Livability — Pasco

• Score: 79/100
• State rank: #104
• US rank: #1999

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pasco, WA
• County: Franklin County · 87,044 people
• City population: 87,044
• Metro: Kennewick-Richland, WA
• Population (ZIP): 87,044
• Household income: $87,951
• Rent vs Own: 28.6% rent · 71.4% own
• Severe rent burden: 1556.0

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 108,530 people
• By 2030: 118,705 · +9.4%
• By 2040: 140,053 · +29.0%
• By 2050: 162,360 · +49.6%
• By 2075: 217,667 · +100.6%
• By 2100: 264,533 · +143.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Hispanic / Latino 55% White 37% Two or more races 22% Black 2% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 51%
• Common ancestry: Lithuanian 2% Italian 2% Portuguese 2%
• Foreign-born: 21% · Canada, Vietnam
• Languages at home: 49% English-only · Spanish 47% Russian/Polish/Slavic 2% Other Asian/Pacific 0%

Political lean MEDSL · Franklin

• 2024 margin: Strong R (+22.7) · D 37.4% · R 60.1% · Other 2.4%
• 2008→2024 swing: +1.0pp toward D · 2008: -23.7pp · 2024: -22.7pp
• All cycles: 2024: R+22.7 2020: R+14.5 2016: R+17.1 2012: R+25.2 2008: R+23.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -331.74%
• Current HPI: 284.481
• Rent YoY: ▲ 1.99%
• 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

-3.4% since first listed

3 events — show timeline

• 2026-02-04 Price Changed $419,900 PACMLS
• 2025-10-03 Listed $429,900 PACMLS
• 2025-08-13 Price Changed $434,900 PACMLS

Property tax history

-10.3%/yr

Latest (2026): $656 · -81.7% YoY. Source: county tax records.