434 Bradley Blvd #204 Blvd #204 · Richland, WA 99352

$2,295

2 bd · 2.0 ba · 1,800 sqft · Condo · 49 Days on market

Built 2007 $1/sqft · 100% below area

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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 +15.0/30.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.0/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

FOR RENT: 2nd story accessible condo with Columbia river view/ access located in Riverwalk Village in Richland. Enjoy Howard Amon Park and the nearby eateries, farmers market and all that Richland has to offer. Each unit comes with a garage and a designated parking spot outside, all kitchen appliance included, washer/dryer hook up, gas fireplace and beautifully appointed units. landlord pays water and garbage; tenant pays sewer, gas, electricity.

Key facts

• Gas fireplace
• Columbia river view
• Garage

Tags

• COLUMBIA RIVER VIEW
• DESIGNATED PARKING SPOT
• GAS FIREPLACE
• KITCHEN APPLIANCE INCLUDED

Property features AI

Exterior

• Parking: One covered parking space; One total garage space
• Home design: One-level condominium; New construction
• Construction: Built as new construction
• Exterior features: Condominium in the River Edge Cond subdivision; Zoning: Other

Interior

• Bathrooms: Two full bathrooms
• Interior features: No basement

🏷️ Possibly a rental listed for sale. The $2,295 price doesn't fit this home's estimated sale value (~$529,800) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $2k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $2k).
• Recommended offer: $2k (3.0% below list) — sets the bar for market timing.
• Cap rate 765.4% vs local median 2.8% in Richland — 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 (#112 in WA, #2,258 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: cost of living C-, amenities F.
• Richland School District (urban): math 52% / reading 64% proficiency, ranked #61 of 291 in WA (top 21%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.6%/yr); 544 active listings in the ZIP; 6 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; 1,532 units permitted in Benton County in 2024 (389 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $16 of loan paydown is wiped out by about $69 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.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $643 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($2k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $2,226 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
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: 80.95% ✓
• Cap rate: 765.39%
• Cash-on-cash: 2711.07%
• DSCR: 121.63
• GRM: 0.1

CMA / ARV

• ARV (median comp): $529,800
• List price: $2,295
• Delta: -99.57%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.6% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 134.89×
• Total profit: $86,036
• Equity at exit: $342

10-year hold

• IRR: —
• Equity multiple: 280.15×
• Total profit: $179,382
• Equity at exit: $198

Cash invested: $643 (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 99352

• Rents YoY: 1.6%
• Active inventory: 544
• Price-to-rent: 0.1×

Monthly cashflow live

• Estimated rent: $1,858 high
• Mortgage (P&I): −$12
• Tax est. 1.5%: −$3 /mo · $34/yr
• Insurance: −$1
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$390
• Net cashflow: $1,396

Break-even live

Break-even rent $90

Max offer price $2,295

Occupancy floor 20%

Sensitivity live

Price	-10% $1,398	-5% $1,397	+0% $1,396	+5% $1,395	+10% $1,395
Rent	-10% $1,249	-5% $1,323	+0% $1,396	+5% $1,470	+10% $1,543
Rate	-1.0pp $1,397	-0.5pp $1,397	base $1,396	+0.5pp $1,396	+1.0pp $1,395

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: $574
• Closing costs: $69
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
215 Casey Ave Richland, WA	2.0	1.0	1400	$1,800	$1.29	44d	1	0.57mi
1211 Gillespie St Richland, WA	3.0	1.0	1800	$1,800	$1.00	44d	1	0.61mi
414 Douglass Ave Richland, WA	3.0	2.0	1800	$1,795	$1.00	14d	1	0.64mi
459 Columbia Point Dr Richland, WA	3.0	2.5	2500	$2,595	$1.04	21d	1	0.91mi
711 Sanford Ave Richland, WA	3.0	2.0	2304	$1,650	$0.72	44d	1	1.19mi
1412 Keller Ave Unit 141 Keller Richland, WA	3.0	1.5	1350	$1,900	$1.41	44d	1	1.43mi

HOA detail condo

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

Listing history 19 events

1. 2026-06-18
   days on market $2,295 Active 49 DOM
2. 2026-06-17
   days on market $2,295 Active 48 DOM
3. 2026-06-16
   days on market $2,295 Active 47 DOM
4. 2026-06-15
   days on market $2,295 Active 46 DOM
5. 2026-06-14
   days on market $2,295 Active 44 DOM
6. 2026-06-13
   days on market $2,295 Active 43 DOM
7. 2026-06-10
   days on market $2,295 Active 41 DOM
8. 2026-06-09
   days on market $2,295 Active 40 DOM
9. 2026-06-08
   days on market $2,295 Active 39 DOM
10. 2026-06-07
    days on market $2,295 Active 38 DOM
11. 2026-06-05
    days on market $2,295 Active 35 DOM
12. 2026-06-03
    days on market $2,295 Active 34 DOM
13. 2026-06-02
    days on market $2,295 Active 33 DOM
14. 2026-06-01
    days on market $2,295 Active 32 DOM
15. 2026-05-31
    days on market $2,295 Active 31 DOM
16. 2026-05-30
    days on market $2,295 Active 30 DOM
17. 2026-04-29
    listed $2,295 Active 820-char remark
18. 2023-04-21
    soldstatus $2,000 Closed 450-char remark

    Show marketing remark (450 chars)

    FOR RENT: 2nd story accessible condo with Columbia river view/ access located in Riverwalk Village in Richland. Enjoy Howard Amon Park and the nearby eateries, farmers market and all that Richland has to offer. Each unit comes with a garage and a designated parking spot outside, all kitchen appliance included, washer/dryer hook up, gas fireplace and beautifully appointed units. landlord pays water and garbage; tenant pays sewer, gas, electricity.

19. 2023-03-22
    listed $2,000 Active 450-char remark

    Show marketing remark (450 chars)

    FOR RENT: 2nd story accessible condo with Columbia river view/ access located in Riverwalk Village in Richland. Enjoy Howard Amon Park and the nearby eateries, farmers market and all that Richland has to offer. Each unit comes with a garage and a designated parking spot outside, all kitchen appliance included, washer/dryer hook up, gas fireplace and beautifully appointed units. landlord pays water and garbage; tenant pays sewer, gas, electricity.

ⓘ 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 7/10 Severe FEMA zone X · 77% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥99°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 11 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,293
• − Mortgage interest: −$129
• − Property taxes: −$34
• − Insurance: −$678
• − Repairs & maintenance: −$1,783
• − Management: −$1,783
• − Depreciation: −$67
• Taxable income: $17,819
• Est. tax owed @ 24.0%: −$4,276
• After-tax cash flow: $12,478/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: Richland School District
• NCES district ID: 5307320
• Math proficiency: 52% ▬ 0.00%
• Reading proficiency: 64% ▼ -1.00%
• Median HH income: $70,475
• Composite: 53.04/100
• National rank: #3244
• State rank: #61 of 291 in WA

Livability — Richland

• Score: 79/100
• State rank: #112
• US rank: #2258

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Richland, WA
• County: Benton County · 186,895 people
• City population: 62,989
• Metro: Kennewick-Richland, WA
• Population (ZIP): 37,430
• Household income: $100,108
• Rent vs Own: 32.2% rent · 67.8% own
• Severe rent burden: 983.0

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: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 14% Two or more races 10% Asian 7% Black 2%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Italian 4% Portuguese 4% Slovak 3%
• Foreign-born: 9% · Canada, South Korea, China
• Languages at home: 88% English-only · Spanish 4% Other Indo-European 3% Korean 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: ▼ -323.81%
• Current HPI: 217.3435
• Rent YoY: ▲ 1.60%
• 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

+14.8% since first listed

3 events — show timeline

• 2026-04-29 Listed $2,295 PACMLS
• 2023-04-21 Sold (MLS) $2,000 PACMLS
• 2023-03-22 Listed $2,000 PACMLS