200 N Underwood St · Kennewick, WA 99336

$159,000

2 bd · 1.0 ba · 1,170 sqft · Condo · 47 Days on market

Built 1958 Good condition

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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 +15.9/30.0
• ARV discount +14.7/15.0
• DSCR +4.9/10.0
• Schools +4.6/10.0
• 1% rule +4.4/10.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• Rent growth +3.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

You will love this eclectic 2-bedroom condo, recently remodeled, overlooking the Zintel Creek Golf Club with character galore! There is a garage plus a carport for this unit. Take a short walk or golf cart ride to the golf club and The Edge Steakhouse and Lounge. There are architectural elements throughout this home, with 11-foot ceilings on the upper level, including an artisan rock/brick wall with built-in shelving, LED lighting, and a remote-control electric fireplace in the living room. All new designer lighting fixtures and ceiling fans throughout the home. The kitchen has lots of cabinet space. There is a custom brick wall in the Master bedroom with custom shelving giving this master and abundance of charm. You will love entertaining on your roomy covered patio with a large promenade right behind. Do not miss out on the opportunity to own this unique home with views of the Tri-Cities. (This is a Co-op Unit. You live in your unit but own shares in the overall association vs having a title for your own unit like a condo does. ) Co-op Fee is $270 a month and covers: Water, Sewer, Garbage, Outside Electrical and the property tax plus community pool. Owners only pay inside Electric Bill and Renters Insurance. 55+ Community but currently has room in their margins for under 55. No rentals!

Key facts

• Move-in ready
• Led lighting
• Built-in shelving

Tags

• MOVE-IN READY
• GOLF COURSE ADJACENT
• TURNKEY OPPORTUNITY
• PRIVATE COVERED PATIO
• BUILT-IN SHELVING
• LED LIGHTING

Property features AI

Finance

• HOA & community: Homeowners association; Curbs, sidewalks, and street lights in the community

Exterior

• Parking: 1 covered parking space; 1 total parking space; Carport; 1-car garage
• Utilities: Public water; Electricity connected; Sewer connected; Electric service on property; Timed underground sprinkler/irrigation connected
• Home design: Residential stock cooperative; Three or more levels; New construction
• Construction: Block construction; Built-up roof; Concrete perimeter foundation; Built in 2026
• Exterior features: Deck; Covered porch; Patio; Landscaped lot; Golf course frontage; Paved road access

Interior

• Kitchen: Cooktop; Oven; Dishwasher; Refrigerator; Water heater
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Radiant heating; Central air conditioning
• Interior features: Storage; Ceiling fan(s); Double-pane windows; Electric fireplace in living room
• Laundry & utility: Dryer

🏢 Co-op / cooperative unit. The $159,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $159k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $76 ($910/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $149k (6.5% below list).
• Recommended offer: $149k (6.5% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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: Rents rising (+3.4%/yr); 286 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $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

• It's been on market 47 days — a 3% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y 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.
• Current owner paid $133k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• 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 $148,685 (6.5% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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 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: 0.94% ✗
• Cap rate: 6.86%
• Cash-on-cash: 2.04%
• DSCR: 1.09
• GRM: 8.9

CMA / ARV

• ARV (median comp): $189,490
• List price: $159,000
• Delta: -16.09%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -12.6%
• Equity multiple: 0.54×
• Total profit: $-20,329
• Equity at exit: $23,707

10-year hold

• IRR: -2.9%
• Equity multiple: 0.80×
• Total profit: $-8,972
• Equity at exit: $13,747

Cash invested: $44,520 (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: 286
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,487 high
• Mortgage (P&I): −$834
• Tax est. 1.5%: −$199 /mo · $2,385/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $76

Break-even live

Break-even rent $1,391

Max offer price $159,000

Occupancy floor 90%

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
89 N Waverly Pl Apt E Kennewick, WA	2.0	1.0	1000	$1,250	$1.25	43d	1	0.12mi
2525 W Grand Ronde Ave Kennewick, WA	2.0–3.0	1.0–2.0	1044	$1,345	$1.29	13d	4	0.33mi
119 S Conway Pl Kennewick, WA	2.0	1.0	711	$1,200	$1.69	21d	1	0.36mi
130 S Conway Pl Kennewick, WA	2.0	1.0	852	$1,299	$1.52	13d	1	0.48mi
603 N Ely St Kennewick, WA	3.0	1.0	1204	$1,895	$1.57	43d	1	0.52mi
513 S Anderson St Kennewick, WA	2.0	1.0	720	$1,495	$2.08	21d	1	0.60mi
500 S Conway Pl Unit 500 Kennewick, WA	2.0	1.0	950	$1,500	$1.58	43d	1	0.62mi
1619 W 5th Ave Unit A Kennewick, WA	2.0	1.0	981	$1,450	$1.48	21d	1	0.70mi
N Johnson St Kennewick, WA	2.0	1.5	1100	$1,450	$1.32	21d	3	0.79mi
3120 W 4th Ave Unit 360 Kennewick, WA	2.0	1.0	963	$1,550	$1.61	43d	1	0.80mi
3120 W 4th Ave Apt 120 Kennewick, WA	2.0	1.0	963	$1,625	$1.69	13d	1	0.80mi
1702 W 7th Pl Unit B Kennewick, WA	2.0	1.0	950	$1,050	$1.11	43d	1	0.80mi
3120 W 4th Ave Kennewick, WA	2.0	1.0	963	$1,550	$1.61	13d	1	0.80mi
1618 W 7th Pl Unit A Kennewick, WA	2.0	1.0	920	$1,050	$1.14	43d	1	0.81mi
425 S Olympia St Kennewick, WA	2.0	1.0–2.0	1000	$1,335	$1.33	13d	9	0.83mi
325 S Johnson St Kennewick, WA	2.0	1.5	1100	$1,495	$1.36	43d	1	0.84mi
911 W Entiat Ave Kennewick, WA	2.0–3.0	2.5	1392	$1,725	$1.24	21d	5	0.88mi
505 S Olympia St Apt H1 Kennewick, WA	3.0	1.0	890	$1,675	$1.88	43d	1	0.91mi
505 S Olympia St Unit 1326 K3 Kennewick, WA	3.0	1.0	945	$1,650	$1.75	21d	1	0.91mi
3113 W 7th Ave Unit D110 Kennewick, WA	2.0	2.5	1000	$1,750	$1.75	13d	1	0.94mi
3119 W 7th Ave Kennewick, WA	3.0	2.5	1500	$2,050	$1.37	13d	1	0.97mi
3119 W 7th Ave Unit C120 Kennewick, WA	3.0	2.5	1500	$2,050	$1.37	21d	1	0.97mi
12 S Morain St Kennewick, WA	1.0–3.0	1.0	604	$1,249	$2.07	13d	3	0.97mi
1000 W 5th Ave Kennewick, WA	3.0–4.0	2.0	1157	$1,371	$1.18	13d	4	0.99mi
1163 S Underwood Pl #110 Kennewick, WA	3.0	2.5	1478	$2,395	$1.62	43d	1	1.02mi
1107 W 5th Ave Kennewick, WA	2.0	1.0	850	$1,588	$1.87	13d	2	1.03mi
400 S Morain St #7 Kennewick, WA	3.0	2.5	1100	$1,500	$1.36	21d	1	1.04mi
455 S Morain St Kennewick, WA	2.0	1.0	775	$1,950	$2.52	43d	1	1.05mi
3703 W Kennewick Ave Kennewick, WA	1.0–2.0	1.0	782	$1,594	$2.04	13d	8	1.05mi
601 S Kent St Unit 601 C202 Kennewick, WA	2.0	1.0	867	$1,300	$1.50	21d	1	1.06mi
601 S Kent St Unit 601 K203 Kennewick, WA	2.0	1.0	867	$1,300	$1.50	43d	1	1.06mi
601 S Kent St Unit 601 F205 Kennewick, WA	2.0	1.0	867	$1,275	$1.47	13d	1	1.06mi
3426 W 7th Ave Unit A130 Kennewick, WA	2.0	2.0	1000	$1,650	$1.65	43d	1	1.09mi
3426 W 7th Ave Kennewick, WA	2.0	2.0	1000	$1,600	$1.60	21d	1	1.09mi
3320 W 9th Ave Unit 30 Kennewick, WA	2.0	2.0	1200	$1,400	$1.17	43d	1	1.13mi
1114 W 10th Ave Kennewick, WA	3.0	1.0–2.0	829	$1,342	$1.62	13d	41	1.14mi
1013 N Neel St Kennewick, WA	2.0	1.0	1000	$1,650	$1.65	43d	1	1.17mi
3708 W 6th Ave Unit B Kennewick, WA	2.0	1.0	918	$1,325	$1.44	43d	1	1.19mi
1110 S Newport St Unit 1110ne B Kennewick, WA	2.0	2.0	995	$1,300	$1.31	43d	1	1.19mi
2652 W 15th Ave Kennewick, WA	2.0–3.0	2.0	1152	$1,599	$1.39	13d	5	1.20mi

HOA detail condo

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

Listing history 21 events

1. 2026-06-18
   days on market $159,000 Active 47 DOM
2. 2026-06-17
   days on market $159,000 Active 46 DOM
3. 2026-06-16
   days on market $159,000 Active 45 DOM
4. 2026-06-15
   days on market $159,000 Active 44 DOM
5. 2026-06-14
   days on market $159,000 Active 42 DOM
6. 2026-06-13
   days on market $159,000 Active 41 DOM
7. 2026-06-10
   days on market $159,000 Active 39 DOM
8. 2026-06-09
   days on market $159,000 Active 38 DOM
9. 2026-06-08
   days on market $159,000 Active 37 DOM
10. 2026-06-07
    days on market $159,000 Active 36 DOM
11. 2026-06-05
    days on market $159,000 Active 33 DOM
12. 2026-06-03
    days on market $159,000 Active 32 DOM
13. 2026-06-02
    days on market $159,000 Active 31 DOM
14. 2026-06-01
    days on market $159,000 Active 30 DOM
15. 2026-05-31
    days on market $159,000 Active 29 DOM
16. 2026-05-30
    days on market $159,000 Active 28 DOM
17. 2026-05-02
    listed $159,000 Active 1345-char remark
18. 2020-09-30
    soldstatus $133,000 1311-char remark

    Show marketing remark (1311 chars)

    You will love this eclectic 2-bedroom condo, recently remodeled, overlooking the Zintel Creek Golf Club with character galore! There is a garage plus a carport for this unit. Take a short walk or golf cart ride to the golf club and The Edge Steakhouse and Lounge. There are architectural elements throughout this home, with 11-foot ceilings on the upper level, including an artisan rock/brick wall with built-in shelving, LED lighting, and a remote-control electric fireplace in the living room. All new designer lighting fixtures and ceiling fans throughout the home. The kitchen has lots of cabinet space. There is a custom brick wall in the Master bedroom with custom shelving giving this master and abundance of charm. You will love entertaining on your roomy covered patio with a large promenade right behind. Do not miss out on the opportunity to own this unique home with views of the Tri-Cities. (This is a Co-op Unit. You live in your unit but own shares in the overall association vs having a title for your own unit like a condo does. ) Co-op Fee is $270 a month and covers: Water, Sewer, Garbage, Outside Electrical and the property tax plus community pool. Owners only pay inside Electric Bill and Renters Insurance. 55+ Community but currently has room in their margins for under 55. No rentals!

19. 2020-08-21
    listed $134,900 1311-char remark

    Show marketing remark (1311 chars)

    You will love this eclectic 2-bedroom condo, recently remodeled, overlooking the Zintel Creek Golf Club with character galore! There is a garage plus a carport for this unit. Take a short walk or golf cart ride to the golf club and The Edge Steakhouse and Lounge. There are architectural elements throughout this home, with 11-foot ceilings on the upper level, including an artisan rock/brick wall with built-in shelving, LED lighting, and a remote-control electric fireplace in the living room. All new designer lighting fixtures and ceiling fans throughout the home. The kitchen has lots of cabinet space. There is a custom brick wall in the Master bedroom with custom shelving giving this master and abundance of charm. You will love entertaining on your roomy covered patio with a large promenade right behind. Do not miss out on the opportunity to own this unique home with views of the Tri-Cities. (This is a Co-op Unit. You live in your unit but own shares in the overall association vs having a title for your own unit like a condo does. ) Co-op Fee is $270 a month and covers: Water, Sewer, Garbage, Outside Electrical and the property tax plus community pool. Owners only pay inside Electric Bill and Renters Insurance. 55+ Community but currently has room in their margins for under 55. No rentals!

20. 2018-09-27
    soldstatus $73,000

    Show marketing remark (360 chars)

    You will love this View of Zintel Creek Golf Club and the Cable Bridge! Spacious covered Patio is perfect for entertaining and Relaxing! One car garage plus carport! A short golf cart ride to the Golf Club! Clean! $275 Monthly Dues covers:water, sewer, garbage, outside electrical, taxes, insurance and outside maintenance. .. .all you have to do is Enjoy!

21. 2018-08-16
    listed $79,900

    Show marketing remark (360 chars)

    You will love this View of Zintel Creek Golf Club and the Cable Bridge! Spacious covered Patio is perfect for entertaining and Relaxing! One car garage plus carport! A short golf cart ride to the Golf Club! Clean! $275 Monthly Dues covers:water, sewer, garbage, outside electrical, taxes, insurance and outside maintenance. .. .all you have to do is Enjoy!

ⓘ 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 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 15 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,842
• − Mortgage interest: −$8,906
• − Property taxes: −$2,385
• − Insurance: −$795
• − Repairs & maintenance: −$1,427
• − Management: −$1,427
• − Depreciation: −$4,625
• Taxable loss: −$1,724
• Est. tax savings @ 24.0%: +$414
• After-tax cash flow: $1,323/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This move-in ready Kennewick condo is in good condition with a fresh paint job and well-maintained landscaping, making it an attractive option for buyers seeking low-maintenance living.

Value-add opportunities

• Both painting — fresh paint enhances curb appeal and interior aesthetics
• Both landscaping — improved landscaping increases curb appeal and property value

Renovation cost estimate screening

Value-add ROI direction

• Both painting — fresh paint enhances curb appeal and interior aesthetics ↑
• Both landscaping — improved landscaping increases curb appeal and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+99.0% since first listed

5 events — show timeline

• 2026-05-02 Listed $159,000 PACMLS
• 2020-09-30 Sold (MLS) $133,000 PACMLS
• 2020-08-21 Listed $134,900 PACMLS
• 2018-09-27 Sold (MLS) $73,000 PACMLS
• 2018-08-16 Listed $79,900 PACMLS