1315 Dixie Ln · Walla Walla, WA 99362

$45,000

2 bd · 2.0 ba · 924 sqft · Manufactured public records · 264 Days on market

Built 1977 $49/sqft · at area comps Est $45k · at est.

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this well-kept single-wide manufactured home. Featuring a practical layout, this home offers a spacious primary suite complete with its own bathroom, walk-in shower, and soaking tub for relaxing at the end of the day. The living room provides a comfortable space to unwind, and the pellet stove adds warmth and efficiency. The kitchen includes ample cabinet storage and flows nicely into the main living areas. A convenient laundry area and additional bedrooms make the home functional for everyday living. Outside, you’ll appreciate the covered carport along with a garage that provides extra parking or room for hobbies and storage. Located in a welcoming community, this property

Key facts

• Soaking tub
• Covered carport
• Primary suite

Tags

• PRIMARY SUITE
• WALK-IN SHOWER
• SOAKING TUB
• PELLET STOVE
• AMPLE CABINET STORAGE
• COVERED CARPORT

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $45k.

Deal economics

• At list price, monthly cash flow is $835 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.
• Cap rate 28.5% vs local median 2.3% in Walla Walla — 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 (#105 in WA, #2,015 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: schools C-.
• Walla Walla Public Schools (urban): math 41% / reading 50% proficiency, ranked #179 of 291 in WA (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.4%/yr); 422 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 206 units permitted in Walla Walla County in 2024 (50 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Walla Walla County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 2.4% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 264 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $24k (35%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $39,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 264 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 1977 — 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. 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.
6. 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.
7. 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: 3.16% ✓
• Cap rate: 28.55%
• Cash-on-cash: 79.48%
• DSCR: 4.54
• GRM: 2.6

CMA / ARV

• ARV (median comp): $45,000
• List price: $45,000
• Delta: —
• Verdict: FAIR
• Comps: 8 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1315 Dixie Ln	0.00mi	2/2.0	924 (0%)	0mo	$44,000	$48	100
1308 Fort Ln	0.05mi	2/2.0	924 (0%)	10mo	$18,500	$20	89
1240 Jones Dr	0.25mi	3/2.0 (+1)	938 (+2%)	2mo	$60,000	$64	79
1317 Fort Ln	0.03mi	2/1.0	924 (0%)	21mo	$49,000	$53	77
1309 Tollgate Ln	0.04mi	2/1.0	882 (-4%)	23mo	$17,000	$19	68
1308 Samuel Dr	0.22mi	2/1.0	826 (-11%)	5mo	$45,000	$54	64
1218 Arkansas	0.28mi	2/2.0	1,000 (+8%)	13mo	$159,000	$159	62
1264 Jones Dr	0.27mi	2/2.0	1,040 (+13%)	10mo	$125,000	$120	58
1205 Arkansas Dr	0.29mi	2/1.0	840 (-9%)	12mo	$65,000	$77	57
1253 Arkansas Dr	0.31mi	2/1.0	800 (-13%)	6mo	$44,900	$56	54

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 · 2.4% rent growth · sell at horizon

5-year hold

• IRR: 78.9%
• Equity multiple: 4.57×
• Total profit: $45,016
• Equity at exit: $6,710

10-year hold

• IRR: 82.3%
• Equity multiple: 9.27×
• Total profit: $104,216
• Equity at exit: $3,891

Cash invested: $12,600 (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 99362

• Rents YoY: 2.4%
• Active inventory: 422
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,421 high
• Mortgage (P&I): −$236
• Tax from tax record: −$33 /mo · $400/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $835

Break-even live

Break-even rent $365

Max offer price $45,000

Occupancy floor 36%

Sensitivity live

Price	-10% $860	-5% $847	+0% $835	+5% $822	+10% $809
Rent	-10% $722	-5% $778	+0% $835	+5% $891	+10% $947
Rate	-1.0pp $857	-0.5pp $846	base $835	+0.5pp $823	+1.0pp $811

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
208 Marjorie Pl Unit marj208 Walla Walla, WA	3.0	2.0	1080	$1,295	$1.20	44d	1	0.81mi
1914 Sunset Dr Unit 1914SUN-B Walla Walla, WA	2.0	1.5	952	$1,625	$1.71	44d	1	0.87mi
101 Kenwood St #205 Walla Walla, WA	2.0	1.0	845	$1,325	$1.57	44d	1	0.99mi
942 NE Spitzenburg St Apt B104 College Place, WA	2.0	1.5	975	$1,530	$1.57	44d	1	1.06mi
330 S 4th Ave Unit 1 Walla Walla, WA	1.0	1.0	550	$900	$1.64	44d	1	1.10mi
831 S 2nd Ave #2 Walla Walla, WA	2.0	1.0	620	$1,495	$2.41	44d	1	1.11mi
332 S 3rd Ave Walla Walla, WA	2.0	1.0	1084	$1,630	$1.50	44d	1	1.16mi
2121 S 2nd Ave Apt 304 Walla Walla, WA	2.0	1.5	975	$1,530	$1.57	44d	1	1.34mi
420 Catherine St #3 Walla Walla, WA	2.0	1.0	890	$1,295	$1.46	44d	1	1.37mi
255 Elder Pl #3 College Place, WA	2.0	1.0	889	$1,415	$1.59	44d	1	1.39mi
385 Catherine St Unit 387C Walla Walla, WA	1.0	1.0	550	$950	$1.73	44d	1	1.45mi

Listing history 16 events

1. 2026-06-08
   days on market $45,000 Active 264 DOM
2. 2026-06-07
   days on market $45,000 Active 263 DOM
3. 2026-06-02
   days on market $45,000 Active 258 DOM
4. 2026-06-01
   days on market $45,000 Active 257 DOM
5. 2026-05-31
   days on market $45,000 Active 256 DOM
6. 2026-05-30
   days on market $45,000 Active 255 DOM
7. 2026-02-21
   price $45,000
8. 2026-01-12
   status Active
9. 2025-12-18
   price $51,900
10. 2025-09-26
    price $59,000
11. 2025-09-05
    listed $69,000 Active
12. 2024-01-19
    status Pending
13. 2024-01-17
    soldstatus $42,000 Closed
14. 2023-09-13
    price $49,000
15. 2023-08-18
    listed $55,000 Active
16. 2010-12-14
    soldstatus $17,000

ⓘ 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: $400 · $33/mo
• Projected year-2 tax: $441 · $37/mo
• Expected delta: +$41/yr (+$3/mo · 10.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $17,052
• − Mortgage interest: −$2,521
• − Property taxes: −$400
• − Insurance: −$225
• − Repairs & maintenance: −$1,364
• − Management: −$1,364
• − Depreciation: −$1,309
• Taxable income: $9,869
• Est. tax owed @ 24.0%: −$2,369
• After-tax cash flow: $7,646/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: Walla Walla Public Schools
• NCES district ID: 5309450
• Math proficiency: 41% ▲ 3.00%
• Reading proficiency: 50% ▼ -1.00%
• Median HH income: $46,207
• Composite: 40.88/100
• National rank: #7531
• State rank: #179 of 291 in WA

Livability — Walla Walla

• Score: 79/100
• State rank: #105
• US rank: #2015

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Walla Walla, WA
• County: Walla Walla County · 52,990 people
• City population: 42,853
• Metro: Walla Walla, WA
• Population (ZIP): 42,853
• Household income: $72,474
• Rent vs Own: 36.3% rent · 63.7% own
• Severe rent burden: 1238.0

Population outlook (Walla Walla County) Hauer SSP2

• Today (2025): 63,088 people
• By 2030: 64,417 · +2.1%
• By 2040: 66,563 · +5.5%
• By 2050: 68,337 · +8.3%
• By 2075: 73,235 · +16.1%
• By 2100: 74,878 · +18.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 22% Two or more races 9% Black 2% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Slovak 3% Portuguese 3% Lithuanian 3%
• Foreign-born: 9% · Canada, China
• Languages at home: 83% English-only · Spanish 15% Chinese 1%

Political lean MEDSL · Walla Walla

• 2024 margin: Lean R (+8.1) · D 44.6% · R 52.7% · Other 2.7%
• 2008→2024 swing: +8.5pp toward D · 2008: -16.6pp · 2024: -8.1pp
• All cycles: 2024: R+8.1 2020: R+8.7 2016: R+16.4 2012: R+22.3 2008: R+16.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -488.03%
• Current HPI: 321.6891
• Rent YoY: ▲ 2.40%
• Metro: Walla Walla, 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

+164.7% since first listed

10 events — show timeline

• 2026-02-21 Price Changed $45,000 NWMLS as Distributed by MLS Grid
• 2026-01-12 Relisted — NWMLS as Distributed by MLS Grid
• 2025-12-18 Price Changed $51,900 NWMLS as Distributed by MLS Grid
• 2025-09-26 Price Changed $59,000 NWMLS as Distributed by MLS Grid
• 2025-09-05 Listed $69,000 NWMLS as Distributed by MLS Grid
• 2024-01-19 Pending — NWMLS as Distributed by MLS Grid
• 2024-01-17 Sold (MLS) $42,000 NWMLS as Distributed by MLS Grid
• 2023-09-13 Price Changed $49,000 NWMLS as Distributed by MLS Grid
• 2023-08-18 Listed $55,000 NWMLS as Distributed by MLS Grid
• 2010-12-14 Sold (Public Records) $17,000 Public Records

Property tax history

+5.8%/yr

Latest (2026): $400 · +8.6% YoY. Source: county tax records.