1116 Sherman Ave · Prosser, WA 99350

$215,000

3 bd · 2.0 ba · 1,360 sqft · SingleFamily public records · 28 Days on market

Built 1940 6,969 sqft lot Est $332k · 35% under

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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 +25.6/30.0
• ARV discount +15.0/15.0
• DSCR +8.5/10.0
• 1% rule +6.2/10.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits! If you've been looking for an investment opportunity or a house thats listed for an affordable price, this might be the house for you. If your not afraid to put in the work, this home offers 3 bedroom 2 baths and 1360 sq. ft of living space. Nestled in the heart of Prosser on a large city lot, zoned for down town commercial, the options on this property are endless for someone willing to do the work. Its adjacent to medium density residential zoning so you can keep it as residential use and add aditional units, use it as commercial use or even do a commercial/residential combination. Motivated sellers, looking for a quick sale!

Key facts

• Large city lot
• 6,969 sq ft lot
• Built 1940

Tags

• LARGE CITY LOT
• ZONED FOR DOWN TOWN COMMERCIAL

Property features AI

Exterior

• Parking: No garage / no dedicated parking
• Utilities: Public water; Electricity on property; Electricity connected; Sewer connected
• Home design: Single-family residence; Site built on owned lot; One story
• Construction: Frame construction with wood siding; Concrete perimeter foundation; New construction
• Exterior features: Composition roof; Lot approximately 0.16 acres; Zoned Commercial General

Interior

• Flooring: Carpet
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Window unit(s) for cooling
• Interior features: Carpet flooring; Daylight basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $508 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $215k).
• Recommended offer: $212k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 2.8% in Prosser — 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 80/100 on livability (#91 in WA, #1,785 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: schools C-, amenities D+, employment D.
• Prosser School District (town): math 36% / reading 46% proficiency, ranked #208 of 291 in WA (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 231 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $6k 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 28 days — a 2% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 23y 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 $78k; list at $215k implies a 177% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• 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 $211,775 (1.5% below list)

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.12% ✓
• Cap rate: 9.13%
• Cash-on-cash: 10.12%
• DSCR: 1.45
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $331,840
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1111 Sherman Ave	0.03mi	3/1.5	1,296 (-5%)	9mo	$360,000	$278	81
304 Basalt Lp Loop	0.40mi	4/2.0 (+1)	1,423 (+5%)	3mo	$325,000	$228	66
366 Aeon Ave	0.48mi	3/2.5	1,268 (-7%)	1mo	$331,914	$262	64
935 Court St	0.59mi	3/2.0	1,288 (-5%)	1mo	$171,000	$133	63
912 Court St	0.54mi	3/2.0	1,400 (+3%)	8mo	$341,900	$244	63
326 Casi Ct	0.51mi	3/2.0	1,320 (-3%)	13mo	$360,000	$273	61
371 Aeon Ave	0.73mi	3/2.0	1,408 (+4%)	2mo	$363,373	$258	59
1511 Bennett Ave	0.45mi	4/1.0 (+1)	1,481 (+9%)	2mo	$359,000	$242	53
919 Brown St	0.54mi	3/2.0	1,192 (-12%)	4mo	$360,000	$302	51
827 Court St	0.46mi	2/2.0 (-1)	1,514 (+11%)	5mo	$333,500	$220	51
929 Parkside Dr	0.59mi	3/2.0	1,514 (+11%)	9mo	$370,000	$244	46
923 Brown St	0.55mi	3/2.0	1,550 (+14%)	14mo	$345,000	$223	40

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: -1.1%
• Equity multiple: 0.96×
• Total profit: $-2,533
• Equity at exit: $32,057

10-year hold

• IRR: 8.6%
• Equity multiple: 1.65×
• Total profit: $39,329
• Equity at exit: $18,589

Cash invested: $60,200 (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 99350

• Home prices YoY: -31.6%
• Active inventory: 231
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,400 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$171 /mo · $2,056/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$504
• Net cashflow: $508

Break-even live

Break-even rent $1,757

Max offer price $215,000

Occupancy floor 74%

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
50 Molly Rose Ct Prosser, WA	3.0	2.0	1580	$2,400	$1.52	44d	1	1.27mi

Listing history 21 events

1. 2026-06-18
   days on market $215,000 Active 28 DOM
2. 2026-06-17
   days on market $215,000 Active 27 DOM
3. 2026-06-16
   days on market $215,000 Active 26 DOM
4. 2026-06-15
   days on market $215,000 Active 25 DOM
5. 2026-06-15
   days on market $215,000 Active 24 DOM
6. 2026-06-13
   days on market $215,000 Active 23 DOM
7. 2026-06-12
   days on market $215,000 Active 22 DOM
8. 2026-06-09
   days on market $215,000 Active 19 DOM
9. 2026-06-08
   days on market $215,000 Active 18 DOM
10. 2026-06-08
    days on market $215,000 Active 17 DOM
11. 2026-06-07
    days on market $215,000 Active 16 DOM
12. 2026-06-03
    days on market $215,000 Active 13 DOM
13. 2026-06-02
    days on market $215,000 Active 12 DOM
14. 2026-06-01
    days on market $215,000 Active 11 DOM
15. 2026-05-31
    days on market $215,000 Active 10 DOM
16. 2026-05-22
    listed $215,000 Active
17. 2016-11-09
    listed $135,000
18. 2016-11-09
    listed $135,000
19. 2003-11-21
    soldstatus $77,500
20. 2003-11-21
    soldstatus $77,500
21. 2003-08-21
    listed $83,000

ⓘ 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: $2,056 · $171/mo
• Projected year-2 tax: $2,107 · $176/mo
• Expected delta: +$51/yr (+$4/mo · 2.5%)

ⓘ 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 ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 13 unhealthy d/yr today · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,800
• − Mortgage interest: −$12,043
• − Property taxes: −$2,056
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,304
• − Management: −$2,304
• − Depreciation: −$6,255
• Taxable income: $2,763
• Est. tax owed @ 24.0%: −$663
• After-tax cash flow: $5,428/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: Prosser School District
• NCES district ID: 5306900
• Math proficiency: 36% ▼ -2.00%
• Reading proficiency: 46% ▬ 0.00%
• Median HH income: $52,089
• Composite: 37.89/100
• National rank: #8699
• State rank: #208 of 291 in WA

Livability — Prosser

• Score: 80/100
• State rank: #91
• US rank: #1785

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Prosser, WA
• Population (ZIP): 14,278

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

• Race & ethnicity: White 50% Hispanic / Latino 46% Two or more races 17% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 43%
• Common ancestry: Italian 3% Iranian 3% Slovak 2%
• Foreign-born: 15% · Canada
• Languages at home: 64% English-only · Spanish 34% Other Asian/Pacific 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: ▼ -118.73%
• Current HPI: 256.9999
• Rent YoY: —
• Metro: —
• 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

+159.0% since first listed

6 events — show timeline

• 2026-05-22 Listed $215,000 PACMLS
• 2016-11-09 Listed $135,000 YAMLS
• 2016-11-09 Listed $135,000 PACMLS
• 2003-11-21 Sold (Public Records) $77,500 Public Records
• 2003-11-21 Sold (MLS) $77,500 PACMLS
• 2003-08-21 Listed $83,000 PACMLS

Property tax history

+6.7%/yr

Latest (2026): $2,056 · +0.2% YoY. Source: county tax records.