1421 S Cedar Street #8 St #8 · Kennewick, WA 99337

$89,900

2 bd · 2.0 ba · 924 sqft · Manufactured public records · 193 Days on market

Built 1976 $97/sqft · 32% below area Est $141k · 36% under ↓ 5% since listing

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

Listing remarks MLS

MLS# 289293 Better than renting!! Home has been completely remodeled inside and just painted on the outside along with roof just been resealed. Inside the home features an open floor and a larger primary bedroom and bathroom. There are brand new wood laminate floors throughout the entire home and new tile floors in both bathrooms. The kitchen has all new lower cabinets and brand-new appliances including the microwave. There is a laundry room that comes with brand new washer and dryer. Both bathrooms have new tile showers, toilets, sinks and fixtures. Primary bathroom has a new stand-alone tub. Home was just painted on the inside and has all new lighting fixtures. Home has almost all new windows and a new furnace and mini split heat pump. There is a also a new hot water heater. There are new stairs to the home along with a new wood deck. Your buyer will be thrilled with this Home.

Key facts

• New tile floors
• New lower cabinets
• Brand new appliances

Tags

• COMPLETELY REMODELED
• OPEN FLOOR
• BRAND NEW WOOD LAMINATE FLOORS
• NEW TILE FLOORS
• NEW LOWER CABINETS
• BRAND NEW APPLIANCES

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $90k.

Deal economics

• At list price, monthly cash flow is $568 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.9% 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: schools D+, 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.
• Market conditions: 246 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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 $622 of loan paydown is wiped out by about $3k 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 + 3.0% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 193 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.

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 $79,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 193 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 1976 — 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 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?
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: 1.67% ✓
• Cap rate: 13.87%
• Cash-on-cash: 27.05%
• DSCR: 2.20
• GRM: 5.0

CMA / ARV

• ARV (median comp): $140,570
• List price: $89,900
• Delta: -36.05%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1702 S Auburn St	0.37mi	2/1.0	834 (-10%)	9mo	$140,000	$168	55

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.0%
• Equity multiple: 1.86×
• Total profit: $21,601
• Equity at exit: $13,404

10-year hold

• IRR: 29.2%
• Equity multiple: 3.60×
• Total profit: $65,445
• Equity at exit: $7,773

Cash invested: $25,172 (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 99337

• Active inventory: 246
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,505 high
• Mortgage (P&I): −$471
• Tax est. 1.5%: −$112 /mo · $1,348/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $568

Break-even live

Break-even rent $786

Max offer price $89,900

Occupancy floor 57%

Sensitivity live

Price	-10% $630	-5% $599	+0% $568	+5% $536	+10% $505
Rent	-10% $449	-5% $508	+0% $568	+5% $627	+10% $686
Rate	-1.0pp $613	-0.5pp $590	base $568	+0.5pp $544	+1.0pp $521

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
402 E 10th Ave Kennewick, WA	3.0	1.0	924	$1,495	$1.62	44d	1	0.17mi
402 E 10th Ave Unit 24 Kennewick, WA	3.0	1.0	871	$1,395	$1.60	44d	1	0.18mi
402 E 10th Ave Lot 10 Kennewick, WA	3.0	1.0	924	$1,425	$1.54	44d	1	0.18mi
1124 E 7th Ave Kennewick, WA	2.0	1.0	576	$1,495	$2.60	14d	1	0.63mi
17 W 24th Ave Unit B1 Kennewick, WA	2.0	1.0	770	$1,200	$1.56	44d	1	0.67mi
919 E 27th Ave Kennewick, WA	2.0	1.0	900	$1,195	$1.33	44d	1	0.87mi
705 S Ione St Kennewick, WA	3.0	1.5	1056	$2,000	$1.89	14d	1	0.97mi
1105 W 10th Ave Kennewick, WA	1.0–2.0	1.0	687	$1,306	$1.90	14d	8	1.09mi
1114 W 10th Ave Kennewick, WA	3.0	1.0–2.0	829	$1,342	$1.62	14d	41	1.09mi
601 S Kent St Unit 601 K203 Kennewick, WA	2.0	1.0	867	$1,300	$1.50	44d	1	1.12mi
601 S Kent St Unit 601 C202 Kennewick, WA	2.0	1.0	867	$1,300	$1.50	21d	1	1.12mi
601 S Kent St Unit 601 F205 Kennewick, WA	2.0	1.0	867	$1,275	$1.47	14d	1	1.12mi
1107 W 5th Ave Kennewick, WA	2.0	1.0	850	$1,588	$1.87	14d	2	1.17mi
1000 W 5th Ave Kennewick, WA	3.0–4.0	2.0	1157	$1,371	$1.18	14d	4	1.18mi
1110 S Newport St Unit 1110ne B Kennewick, WA	2.0	2.0	995	$1,300	$1.31	44d	1	1.19mi
505 S Olympia St Apt H1 Kennewick, WA	3.0	1.0	890	$1,675	$1.88	44d	1	1.28mi
505 S Olympia St Unit 1326 K3 Kennewick, WA	3.0	1.0	945	$1,650	$1.75	21d	1	1.28mi
505 S Olympia St Apt E4 Kennewick, WA	2.0	1.0	695	$1,285	$1.85	14d	1	1.28mi
505 S Olympia St Kennewick, WA	2.0	1.0	695	$1,525	$2.19	44d	1	1.34mi
425 S Olympia St Kennewick, WA	2.0	1.0–2.0	1000	$1,335	$1.33	14d	9	1.35mi
1608 W 14th Ave Unit 1614 Kennewick, WA	2.0	1.0	750	$995	$1.33	21d	1	1.38mi
1618 W 7th Pl Unit A Kennewick, WA	2.0	1.0	920	$1,050	$1.14	44d	1	1.49mi

Listing history 19 events

1. 2026-06-18
   days on market $89,900 Active 193 DOM
2. 2026-06-17
   days on market $89,900 Active 192 DOM
3. 2026-06-16
   days on market $89,900 Active 191 DOM
4. 2026-06-15
   days on market $89,900 Active 190 DOM
5. 2026-06-14
   days on market $89,900 Active 188 DOM
6. 2026-06-13
   days on market $89,900 Active 187 DOM
7. 2026-06-10
   days on market $89,900 Active 185 DOM
8. 2026-06-09
   days on market $89,900 Active 184 DOM
9. 2026-06-08
   days on market $89,900 Active 183 DOM
10. 2026-06-07
    days on market $89,900 Active 182 DOM
11. 2026-06-05
    days on market $89,900 Active 179 DOM
12. 2026-06-03
    days on market $89,900 Active 178 DOM
13. 2026-06-02
    days on market $89,900 Active 177 DOM
14. 2026-06-01
    days on market $89,900 Active 176 DOM
15. 2026-05-31
    days on market $89,900 Active 175 DOM
16. 2026-05-30
    days on market $89,900 Active 174 DOM
17. 2026-04-25
    price $89,900 892-char remark

    Show marketing remark (892 chars)

    MLS# 289293 Better than renting!! Home has been completely remodeled inside and just painted on the outside along with roof just been resealed. Inside the home features an open floor and a larger primary bedroom and bathroom. There are brand new wood laminate floors throughout the entire home and new tile floors in both bathrooms. The kitchen has all new lower cabinets and brand-new appliances including the microwave. There is a laundry room that comes with brand new washer and dryer. Both bathrooms have new tile showers, toilets, sinks and fixtures. Primary bathroom has a new stand-alone tub. Home was just painted on the inside and has all new lighting fixtures. Home has almost all new windows and a new furnace and mini split heat pump. There is a also a new hot water heater. There are new stairs to the home along with a new wood deck. Your buyer will be thrilled with this Home.

18. 2026-03-06
    price $94,900 892-char remark

    Show marketing remark (892 chars)

    MLS# 289293 Better than renting!! Home has been completely remodeled inside and just painted on the outside along with roof just been resealed. Inside the home features an open floor and a larger primary bedroom and bathroom. There are brand new wood laminate floors throughout the entire home and new tile floors in both bathrooms. The kitchen has all new lower cabinets and brand-new appliances including the microwave. There is a laundry room that comes with brand new washer and dryer. Both bathrooms have new tile showers, toilets, sinks and fixtures. Primary bathroom has a new stand-alone tub. Home was just painted on the inside and has all new lighting fixtures. Home has almost all new windows and a new furnace and mini split heat pump. There is a also a new hot water heater. There are new stairs to the home along with a new wood deck. Your buyer will be thrilled with this Home.

19. 2025-12-07
    listed $95,000 Active 892-char remark

    Show marketing remark (892 chars)

    MLS# 289293 Better than renting!! Home has been completely remodeled inside and just painted on the outside along with roof just been resealed. Inside the home features an open floor and a larger primary bedroom and bathroom. There are brand new wood laminate floors throughout the entire home and new tile floors in both bathrooms. The kitchen has all new lower cabinets and brand-new appliances including the microwave. There is a laundry room that comes with brand new washer and dryer. Both bathrooms have new tile showers, toilets, sinks and fixtures. Primary bathroom has a new stand-alone tub. Home was just painted on the inside and has all new lighting fixtures. Home has almost all new windows and a new furnace and mini split heat pump. There is a also a new hot water heater. There are new stairs to the home along with a new wood deck. Your buyer will be thrilled with this Home.

ⓘ 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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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 15 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,058
• − Mortgage interest: −$5,036
• − Property taxes: −$1,348
• − Insurance: −$450
• − Repairs & maintenance: −$1,445
• − Management: −$1,445
• − Depreciation: −$2,615
• Taxable income: $5,719
• Est. tax owed @ 24.0%: −$1,373
• After-tax cash flow: $5,438/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

• County: Benton County · 186,895 people
• City population: 104,655
• Metro: Kennewick-Richland, WA
• Population (ZIP): 33,287
• Household income: $98,848
• Rent vs Own: 14.5% rent · 85.5% own
• Severe rent burden: 430.0

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 (67%)
• Race & ethnicity: White 67% Hispanic / Latino 26% Two or more races 13% Asian 1% Black 1%
• Hispanic origin (detail): Mexican 24%
• Common ancestry: Lithuanian 4% Portuguese 3% Iranian 2%
• Foreign-born: 12% · Canada, Vietnam
• Languages at home: 76% English-only · Spanish 20% Russian/Polish/Slavic 2%

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: ▼ -260.38%
• Current HPI: 245.5375
• Rent YoY: —
• 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

-5.4% since first listed

3 events — show timeline

• 2026-04-25 Price Changed $89,900 PACMLS
• 2026-03-06 Price Changed $94,900 PACMLS
• 2025-12-07 Listed $95,000 PACMLS

Property tax history

-0.5%/yr

Latest (2026): $66 · -2.9% YoY. Source: county tax records.