806 SE Mockingbird Dr · College Place, WA 99324

$110,000

3 bd · 2.0 ba · 1,432 sqft · Manufactured public records · 64 Days on market

Built 1976 $77/sqft · 13% below area Est $126k · 13% under ↓ 8% 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
• ARV discount +13.2/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.2/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Nestled in one of College Place's most sought-after vibrant 55+ communities, this beautifully appointed 3-bedroom, 2-bath home offers the perfect blend of comfort and lifestyle. New carpet throughout, newer exterior paint and new vinyl flooring in guest bath. The spacious primary suite provides a peaceful retreat, while a flexible bonus room adapts effortlessly as a second living space or formal dining room. Situated on a generous corner lot, the property features a double carport, additional front parking, and a large storage shed/workshop. Enjoy exclusive amenities including a clubhouse and sparkling pool, all just steps from your door.

Key facts

• Clubhouse
• New carpet
• Double carport

Tags

• NEW CARPET
• NEW VINYL FLOORING
• DOUBLE CARPORT
• LARGE STORAGE SHED
• CLUBHOUSE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $110k.

Deal economics

• At list price, monthly cash flow is $723 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $103k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.2% vs local median 2.5% in College Place — 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 82/100 on livability (#71 in WA, #1,277 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: employment D, amenities D-.
• College Place School District (suburban): math 41% / reading 53% proficiency, ranked #170 of 291 in WA (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 104 active listings in the ZIP; 15 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).
• This rent runs 35% 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 $761 of loan paydown is wiped out by about $3k 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 + 3.0% rent growth), your $31k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $103,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 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 1976 — 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: 1.65% ✓
• Cap rate: 14.19%
• Cash-on-cash: 28.19%
• DSCR: 2.25
• GRM: 5.0

CMA / ARV

• ARV (median comp): $126,011
• List price: $110,000
• Delta: -12.71%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
826 SE Scenic View Dr	0.11mi	2/2.0 (-1)	1,436 (+0%)	3mo	$87,400	$61	87
1458 SE Sandpiper Ln	0.04mi	3/2.0	1,340 (-6%)	2mo	$85,320	$64	86
829 SE Mockingbird Dr	0.05mi	3/2.0	1,621 (+13%)	7mo	$110,000	$68	70
1444 SE Osprey Ln	0.15mi	3/2.0	1,603 (+12%)	5mo	$120,000	$75	68
1402 Samuel Dr	0.14mi	3/2.0	1,280 (-11%)	10mo	$175,000	$137	67
1496 Osprey Ln	0.22mi	3/2.0	1,620 (+13%)	2mo	$136,500	$84	66
981 SE Scenic View Dr	0.20mi	3/2.0	1,579 (+10%)	13mo	$195,000	$123	63
877 SE Mockingbird Dr	0.17mi	3/2.0	1,340 (-6%)	23mo	$100,000	$75	62
961 SE Scenic View Dr	0.18mi	2/2.0 (-1)	1,244 (-13%)	13mo	$90,000	$72	54
127 SE Pepperidge Pl	0.41mi	3/2.0	1,304 (-9%)	22mo	$250,000	$192	48

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: 22.4%
• Equity multiple: 1.92×
• Total profit: $28,252
• Equity at exit: $16,401

10-year hold

• IRR: 30.4%
• Equity multiple: 3.73×
• Total profit: $83,930
• Equity at exit: $9,511

Cash invested: $30,800 (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 99324

• Home prices YoY: -17.6%
• Active inventory: 104
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,819 high
• Mortgage (P&I): −$577
• Tax from tax record: −$91 /mo · $1,092/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$382
• Net cashflow: $723

Break-even live

Break-even rent $903

Max offer price $110,000

Occupancy floor 55%

Sensitivity live

Price	-10% $786	-5% $755	+0% $723	+5% $692	+10% $661
Rent	-10% $580	-5% $652	+0% $723	+5% $795	+10% $867
Rate	-1.0pp $779	-0.5pp $751	base $723	+0.5pp $695	+1.0pp $666

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1005 SW Puff Ln College Place, WA	2.0	1.0	890	$1,100	$1.24	45d	1	0.66mi
806 S College Ave College Place, WA	1.0–2.0	1.0–2.0	738	$1,750	$2.37	45d	3	0.71mi
103 SW 9th St College Place, WA	4.0	2.5	1616	$2,095	$1.30	45d	1	0.72mi
512 S College Ave #1 College Place, WA	3.0	1.0	1328	$1,785	$1.34	45d	1	0.84mi
310 SE 3rd St Unit 4 College Place, WA	2.0	1.0	1300	$1,300	$1.00	45d	1	0.84mi
24 SE 4th St College Place, WA	3.0	1.0	1270	$2,045	$1.61	45d	1	0.85mi
309 SW 6th St Apt 1 College Place, WA	4.0	2.0	1350	$1,739	$1.29	45d	1	0.93mi
218 E Whitman Dr Unit 1 College Place, WA	4.0	2.5	1485	$2,240	$1.51	45d	1	1.03mi
22 NE Hadley Way #1 College Place, WA	2.0	2.5	1150	$2,095	$1.82	45d	1	1.06mi
418 SW 4th St Unit C College Place, WA	2.0	1.5	1150	$1,595	$1.39	45d	1	1.13mi
255 Elder Pl #3 College Place, WA	2.0	1.0	889	$1,415	$1.59	45d	1	1.22mi
23 NW Earl Ln College Place, WA	3.0	2.5	1600	$1,845	$1.15	45d	1	1.28mi
942 NE Spitzenburg St Apt B104 College Place, WA	2.0	1.5	975	$1,530	$1.57	45d	1	1.30mi
623 W Whitman Dr Unit 623 Whitman College Place, WA	2.0	1.5	900	$1,575	$1.75	45d	1	1.36mi
70 NE Rose St Unit B College Place, WA	3.0	1.0	1500	$1,300	$0.87	45d	1	1.39mi

Listing history 2 events

1. 2026-05-01
   price $110,000
2. 2026-03-17
   listed $120,000 Active

ⓘ 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: $1,092 · $91/mo
• Projected year-2 tax: $1,092 · $91/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 10 unhealthy d/yr today · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,830
• − Mortgage interest: −$6,162
• − Property taxes: −$1,092
• − Insurance: −$550
• − Repairs & maintenance: −$1,746
• − Management: −$1,746
• − Depreciation: −$3,200
• Taxable income: $7,334
• Est. tax owed @ 24.0%: −$1,760
• After-tax cash flow: $6,922/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: College Place School District
• NCES district ID: 5301470
• Math proficiency: 41% ▲ 2.00%
• Reading proficiency: 53% ▬ 0.00%
• Median HH income: $48,045
• Composite: 42.23/100
• National rank: #6997
• State rank: #170 of 291 in WA

Livability — College Place

• Score: 82/100
• State rank: #71
• US rank: #1277

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: College Place, WA
• County: Walla Walla County · 52,990 people
• City population: 10,137
• Metro: Walla Walla, WA
• Population (ZIP): 10,137
• Household income: $62,839
• Rent vs Own: 35.5% rent · 64.5% own
• Severe rent burden: 400.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 20% Two or more races 8% Asian 3%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Italian 6% Lithuanian 4% Portuguese 4%
• Foreign-born: 9% · Canada, China
• Languages at home: 84% English-only · Spanish 12% French/Haitian/Cajun 1% Other Asian/Pacific 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: ▼ -69.73%
• Current HPI: 326.0923
• Rent YoY: —
• 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

-8.3% since first listed

2 events — show timeline

• 2026-05-01 Price Changed $110,000 NWMLS as Distributed by MLS Grid
• 2026-03-17 Listed $120,000 NWMLS as Distributed by MLS Grid

Property tax history

+8.4%/yr

Latest (2026): $1,092 · -1.7% YoY. Source: county tax records.