2105 N Steptoe St Space 11 St #11 · Kennewick, WA 99336

$102,000

2 bd · 2.0 ba · 1,248 sqft · Manufactured public records · 87 Days on market

Built 1979 $82/sqft · 62% below area ↓ 11% since listing

---

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 +5.3/10.0
• Livability +3.9/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

OPEN HOUSE SUNDAY (5/17/2026) FROM 12-1 PM. MLS# 290755 Imagine relaxing on this quality covered deck, enjoying the sunset view over Badger Mountain. Everything about this meticulously maintained home makes it ready for you to move in and begin enjoying a relaxing lifestyle. You'll appreciate the spacious living room with abundant windows and plenty of natural light. The kitchen offers a view from the sink and there are plenty of cabinets for storage. Display your dishes in the dining room's built-in china cabinet, which also includes an office desk space and a sliding glass door to access the covered deck. The primary suite has a soaking tub, separate shower and mirrored wardrobe closet. The second bedroom has access to an additional full bathroom, which is also available for guest use off the laundry area. The corner lot is extra large and includes partial fencing, additional parking, a storage shed and single-car garage with a storage area inside. Make an appointment to see this home today!

Key facts

• Covered deck
• Soaking tub
• Sunset view

Tags

• COVERED DECK
• SUNSET VIEW
• SPACIOUS LIVING ROOM
• BUILT-IN CHINA CABINET
• SOAKING TUB
• SEPARATE SHOWER

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $102k.

Deal economics

• At list price, monthly cash flow is $580 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $102k).
• Recommended offer: $96k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.1% 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.
• 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 rising (+3.4%/yr); 286 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 1,532 units permitted in Benton County in 2024 (389 in 5+ unit buildings).
• This rent runs 31% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $705 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 + 3.4% rent growth), your $29k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($96k) 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 $95,880 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 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 1979 — 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: 1.60% ✓
• Cap rate: 13.12%
• Cash-on-cash: 24.39%
• DSCR: 2.09
• GRM: 5.2

CMA / ARV

• ARV (median comp): $268,702
• List price: $102,000
• Delta: -62.04%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2105 N Steptoe St #119	0.15mi	3/2.0 (+1)	1,230 (-1%)	5mo	$155,000	$126	82
2114 N Texas St	0.18mi	3/2.0 (+1)	1,288 (+3%)	10mo	$310,000	$241	73
2109 N Nevada St	0.32mi	3/2.0 (+1)	1,296 (+4%)	2mo	$280,000	$216	72
2105 N Steptoe St #129	0.17mi	3/2.0 (+1)	1,296 (+4%)	14mo	$50,000	$39	69
8911 W Arrowhead Ave	0.18mi	3/2.0 (+1)	1,288 (+3%)	16mo	$345,000	$268	68
9130 W Arrowhead Ave	0.15mi	3/2.0 (+1)	1,296 (+4%)	17mo	$294,500	$227	68
452 Cliffrose Pl	0.42mi	3/2.0 (+1)	1,296 (+4%)	2mo	$360,000	$278	67
9138 W Yellowstone Ave	0.19mi	3/2.0 (+1)	1,344 (+8%)	11mo	$314,900	$234	64
9171 W Yellowstone Ave	0.23mi	3/2.0 (+1)	1,404 (+12%)	3mo	$309,500	$220	61
2157 N Vermont Loop	0.28mi	3/2.0 (+1)	1,152 (-8%)	14mo	$261,000	$227	57
9115 W Arrowhead Ave	0.17mi	3/2.0 (+1)	1,080 (-14%)	15mo	$1,595	$1	52
8433 W Canyon Ave	0.46mi	3/2.0 (+1)	1,100 (-12%)	4mo	$295,000	$268	50

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 · 3.39% rent growth · sell at horizon

5-year hold

• IRR: 18.2%
• Equity multiple: 1.74×
• Total profit: $21,102
• Equity at exit: $15,209

10-year hold

• IRR: 26.9%
• Equity multiple: 3.41×
• Total profit: $68,725
• Equity at exit: $8,819

Cash invested: $28,560 (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: 5.2×

Monthly cashflow live

• Estimated rent: $1,627 high
• Mortgage (P&I): −$535
• Tax est. 1.5%: −$128 /mo · $1,530/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$342
• Net cashflow: $580

Break-even live

Break-even rent $892

Max offer price $102,000

Occupancy floor 59%

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: $25,500
• Closing costs: $3,060
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
785 Canyon St Unit 207 Richland, WA	2.0	2.0	1100	$1,500	$1.36	43d	1	0.14mi
785 Canyon St Unit 106 Richland, WA	2.0	2.0	1100	$1,600	$1.45	43d	1	0.15mi
1950 Bellerive Dr Richland, WA	2.0	1.0	710	$1,058	$1.49	13d	5	0.50mi
1148 Columbia Park Trl Richland, WA	2.0	2.0	1375	$2,075	$1.51	21d	1	0.58mi
250 Gage Blvd Richland, WA	1.0–3.0	1.0–2.0	1012	$1,728	$1.71	13d	10	0.65mi
303 Gage Blvd Richland, WA	2.0	2.0	1034	$1,625	$1.57	13d	1	0.76mi
1529 Columbia Park Trl Richland, WA	1.0–2.0	1.0–2.0	992	$1,870	$1.89	13d	6	0.86mi
1506 Cimarron Ave Richland, WA	3.0	2.0	1500	$2,095	$1.40	43d	1	0.88mi
725 N Center Pkwy Kennewick, WA	1.0–3.0	1.0–2.0	1086	$1,906	$1.75	13d	9	0.93mi
8831 W Entiat Ave Kennewick, WA	3.0	2.0	1232	$1,995	$1.62	43d	1	1.20mi
1775 Columbia Park Trl Richland, WA	2.0	1.0	943	$1,602	$1.70	13d	3	1.20mi

Listing history 3 events

1. 2026-04-20
   price $102,000 1008-char remark

   Show marketing remark (1008 chars)

   OPEN HOUSE SUNDAY (5/17/2026) FROM 12-1 PM. MLS# 290755 Imagine relaxing on this quality covered deck, enjoying the sunset view over Badger Mountain. Everything about this meticulously maintained home makes it ready for you to move in and begin enjoying a relaxing lifestyle. You'll appreciate the spacious living room with abundant windows and plenty of natural light. The kitchen offers a view from the sink and there are plenty of cabinets for storage. Display your dishes in the dining room's built-in china cabinet, which also includes an office desk space and a sliding glass door to access the covered deck. The primary suite has a soaking tub, separate shower and mirrored wardrobe closet. The second bedroom has access to an additional full bathroom, which is also available for guest use off the laundry area. The corner lot is extra large and includes partial fencing, additional parking, a storage shed and single-car garage with a storage area inside. Make an appointment to see this home today!

2. 2026-03-13
   price $110,000 1008-char remark

   Show marketing remark (1008 chars)

   OPEN HOUSE SUNDAY (5/17/2026) FROM 12-1 PM. MLS# 290755 Imagine relaxing on this quality covered deck, enjoying the sunset view over Badger Mountain. Everything about this meticulously maintained home makes it ready for you to move in and begin enjoying a relaxing lifestyle. You'll appreciate the spacious living room with abundant windows and plenty of natural light. The kitchen offers a view from the sink and there are plenty of cabinets for storage. Display your dishes in the dining room's built-in china cabinet, which also includes an office desk space and a sliding glass door to access the covered deck. The primary suite has a soaking tub, separate shower and mirrored wardrobe closet. The second bedroom has access to an additional full bathroom, which is also available for guest use off the laundry area. The corner lot is extra large and includes partial fencing, additional parking, a storage shed and single-car garage with a storage area inside. Make an appointment to see this home today!

3. 2026-02-25
   listed $115,000 Active 1008-char remark

   Show marketing remark (1008 chars)

   OPEN HOUSE SUNDAY (5/17/2026) FROM 12-1 PM. MLS# 290755 Imagine relaxing on this quality covered deck, enjoying the sunset view over Badger Mountain. Everything about this meticulously maintained home makes it ready for you to move in and begin enjoying a relaxing lifestyle. You'll appreciate the spacious living room with abundant windows and plenty of natural light. The kitchen offers a view from the sink and there are plenty of cabinets for storage. Display your dishes in the dining room's built-in china cabinet, which also includes an office desk space and a sliding glass door to access the covered deck. The primary suite has a soaking tub, separate shower and mirrored wardrobe closet. The second bedroom has access to an additional full bathroom, which is also available for guest use off the laundry area. The corner lot is extra large and includes partial fencing, additional parking, a storage shed and single-car garage with a storage area inside. Make an appointment to see this home today!

ⓘ 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 ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 14 unhealthy d/yr today · 15 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,523
• − Mortgage interest: −$5,714
• − Property taxes: −$1,530
• − Insurance: −$510
• − Repairs & maintenance: −$1,562
• − Management: −$1,562
• − Depreciation: −$2,967
• Taxable income: $5,679
• Est. tax owed @ 24.0%: −$1,363
• After-tax cash flow: $5,602/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 — 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

-11.3% since first listed

3 events — show timeline

• 2026-04-20 Price Changed $102,000 PACMLS
• 2026-03-13 Price Changed $110,000 PACMLS
• 2026-02-25 Listed $115,000 PACMLS

Property tax history

-38.0%/yr

Latest (2020): $14 · +4.4% YoY. Source: county tax records.