31 Mercury Dr · Richland, WA 99354

$160,000

4 bd · 2.0 ba · 1,512 sqft · SingleFamily public records · 58 Days on market

Built 2020 $106/sqft · 66% above area

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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 +25.4/30.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• Schools +5.3/10.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MLS# 292320 Enjoy easy living in this North Richland manufactured home, with access to great community amenities. Located in a well-kept park, you’ll have access to a pool, playground, basketball court, BBQ area, and clubhouse — giving you options to get out, stay active, or just enjoy the space around you. The home offers a comfortable layout with LVP flooring installed in 2023, along with kitchen appliances, washer, and dryer included. Outside you’ll find a small fenced yard with shade trees — a nice spot to relax, let pets out, or enjoy a little privacy. Conveniently located near the Hanford area, with quick access to the hospital, shopping, and everyday essentials, it’s a location that just makes life easier. A great option for low-maintenance living in a great area. Lot rent is $795/month and includes water and sewer.

Key facts

• Clubhouse
• Fenced yard
• Basketball court

Tags

• POOL
• PLAYGROUND
• BASKETBALL COURT
• BBQ AREA
• CLUBHOUSE
• FENCED YARD

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $367 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $155k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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 flat; 129 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $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 58 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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

• Climate carrying-cost: moderate wildfire 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 $155,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.06% ✓
• Cap rate: 9.04%
• Cash-on-cash: 9.83%
• DSCR: 1.44
• GRM: 7.8

CMA / ARV

• ARV (median comp): $99,974
• List price: $160,000
• Delta: 60.04%
• Verdict: OVERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
519 Singletree Ct	0.33mi	4/2.0	1,570 (+4%)	6mo	$415,000	$264	74
2314 Easton Ave	0.42mi	3/2.5 (-1)	1,608 (+6%)	3mo	$458,000	$285	61
591 Saint St	0.34mi	4/1.5	1,600 (+6%)	20mo	$370,000	$231	56
353 Driftwood Ct	0.45mi	3/2.0 (-1)	1,616 (+7%)	11mo	$385,000	$238	54
2026 Cascade Ave	0.69mi	4/2.0	1,536 (+2%)	16mo	$340,000	$221	52
2128 Shasta Ave	0.50mi	3/2.0 (-1)	1,616 (+7%)	12mo	$411,000	$254	50
2113 Newcomer Ave	0.61mi	3/2.0 (-1)	1,576 (+4%)	19mo	$385,000	$244	43
506 Surrey Ct	0.16mi	3/3.0 (-1)	1,724 (+14%)	22mo	$430,000	$249	42
2017 Everest Ave	0.72mi	3/2.0 (-1)	1,637 (+8%)	9mo	$325,000	$199	40
2113 Rainier Ave	0.55mi	3/2.0 (-1)	1,734 (+15%)	9mo	$369,900	$213	38
2045 Davison Ave	0.72mi	3/1.5 (-1)	1,350 (-11%)	5mo	$400,000	$296	37
631 Fuller St	0.60mi	3/1.5 (-1)	1,725 (+14%)	16mo	$323,000	$187	28

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 · 0.62% rent growth · sell at horizon

5-year hold

• IRR: -4.0%
• Equity multiple: 0.85×
• Total profit: $-6,600
• Equity at exit: $23,857

10-year hold

• IRR: 2.9%
• Equity multiple: 1.19×
• Total profit: $8,539
• Equity at exit: $13,834

Cash invested: $44,800 (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 99354

• Rents YoY: 0.6%
• Active inventory: 129
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,703 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$73 /mo · $874/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $367

Break-even live

Break-even rent $1,239

Max offer price $160,000

Occupancy floor 73%

Sensitivity live

Price	-10% $457	-5% $412	+0% $367	+5% $322	+10% $276
Rent	-10% $232	-5% $300	+0% $367	+5% $434	+10% $501
Rate	-1.0pp $447	-0.5pp $408	base $367	+0.5pp $325	+1.0pp $283

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1928 George Washington Way Richland, WA	3.0	1.5	1395	$1,350	$0.97	14d	1	0.94mi
227 University Dr Richland, WA	1.0–4.0	1.0–3.0	982	$1,932	$1.97	14d	72	1.40mi
1621 George Washington Way Richland, WA	1.0–3.0	1.0–2.0	907	$1,345	$1.48	22d	1	1.43mi

Listing history 20 events

1. 2026-06-18
   days on market $160,000 Active 58 DOM
2. 2026-06-17
   days on market $160,000 Active 57 DOM
3. 2026-06-16
   days on market $160,000 Active 56 DOM
4. 2026-06-15
   days on market $160,000 Active 55 DOM
5. 2026-06-14
   days on market $160,000 Active 53 DOM
6. 2026-06-13
   days on market $160,000 Active 52 DOM
7. 2026-06-10
   days on market $160,000 Active 50 DOM
8. 2026-06-09
   days on market $160,000 Active 49 DOM
9. 2026-06-08
   days on market $160,000 Active 48 DOM
10. 2026-06-07
    days on market $160,000 Active 47 DOM
11. 2026-06-05
    days on market $160,000 Active 44 DOM
12. 2026-06-03
    days on market $160,000 Active 43 DOM
13. 2026-06-02
    days on market $160,000 Active 42 DOM
14. 2026-06-01
    days on market $160,000 Active 41 DOM
15. 2026-05-31
    days on market $160,000 Active 40 DOM
16. 2026-05-30
    days on market $160,000 Active 39 DOM
17. 2026-05-06
    price $160,000 864-char remark

    Show marketing remark (864 chars)

    MLS# 292320 Enjoy easy living in this North Richland manufactured home, with access to great community amenities. Located in a well-kept park, you’ll have access to a pool, playground, basketball court, BBQ area, and clubhouse — giving you options to get out, stay active, or just enjoy the space around you. The home offers a comfortable layout with LVP flooring installed in 2023, along with kitchen appliances, washer, and dryer included. Outside you’ll find a small fenced yard with shade trees — a nice spot to relax, let pets out, or enjoy a little privacy. Conveniently located near the Hanford area, with quick access to the hospital, shopping, and everyday essentials, it’s a location that just makes life easier. A great option for low-maintenance living in a great area. Lot rent is $795/month and includes water and sewer.

18. 2026-04-21
    listed $165,000 Active 864-char remark

    Show marketing remark (864 chars)

    MLS# 292320 Enjoy easy living in this North Richland manufactured home, with access to great community amenities. Located in a well-kept park, you’ll have access to a pool, playground, basketball court, BBQ area, and clubhouse — giving you options to get out, stay active, or just enjoy the space around you. The home offers a comfortable layout with LVP flooring installed in 2023, along with kitchen appliances, washer, and dryer included. Outside you’ll find a small fenced yard with shade trees — a nice spot to relax, let pets out, or enjoy a little privacy. Conveniently located near the Hanford area, with quick access to the hospital, shopping, and everyday essentials, it’s a location that just makes life easier. A great option for low-maintenance living in a great area. Lot rent is $795/month and includes water and sewer.

19. 2022-04-28
    soldstatus $140,000 397-char remark

    Show marketing remark (397 chars)

    MLS# 260133 Almost new! One owner home in Great North Richland location! This is a well established park with a community pool and clubhouse. Home features fenced yard, 4 nice bedrooms, 2 baths, plush carpet, garden shed, and all appliances stay! Lot rent includes majority of water if you do not go over allotted amount. Then there will be a minimal fee. This home is ready for the new occupants!

20. 2022-03-23
    listed $150,000 397-char remark

    Show marketing remark (397 chars)

    MLS# 260133 Almost new! One owner home in Great North Richland location! This is a well established park with a community pool and clubhouse. Home features fenced yard, 4 nice bedrooms, 2 baths, plush carpet, garden shed, and all appliances stay! Lot rent includes majority of water if you do not go over allotted amount. Then there will be a minimal fee. This home is ready for the new occupants!

ⓘ 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: $874 · $73/mo
• Projected year-2 tax: $1,568 · $131/mo
• Expected delta: +$694/yr (+$58/mo · 79.5%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥99°F today · 15 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: $20,436
• − Mortgage interest: −$8,962
• − Property taxes: −$874
• − Insurance: −$800
• − Repairs & maintenance: −$1,635
• − Management: −$1,635
• − Depreciation: −$4,655
• Taxable income: $1,875
• Est. tax owed @ 24.0%: −$450
• After-tax cash flow: $3,952/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): 25,559
• Household income: $91,933
• Rent vs Own: 39.9% rent · 60.1% own
• Severe rent burden: 545.0

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 (75%)
• Race & ethnicity: White 75% Hispanic / Latino 14% Two or more races 10% Asian 4% Native American 1%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Portuguese 4% Italian 4% Slovak 3%
• Foreign-born: 6% · Canada, China, Vietnam
• Languages at home: 89% English-only · Spanish 5% Russian/Polish/Slavic 1% Chinese 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: ▼ -353.00%
• Current HPI: 235.9082
• Rent YoY: ▲ 0.62%
• 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

+6.7% since first listed

4 events — show timeline

• 2026-05-06 Price Changed $160,000 PACMLS
• 2026-04-21 Listed $165,000 PACMLS
• 2022-04-28 Sold (MLS) $140,000 PACMLS
• 2022-03-23 Listed $150,000 PACMLS

Property tax history

+23.6%/yr

Latest (2026): $874 · -3.1% YoY. Source: county tax records.