2021 Mahan Ave Unit A4 · Richland, WA 99354

$99,000

3 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 1 Days on market

Built 1972 Est $121k · 18% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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# 264988 Welcome Home! 3 bedroom, 2 bathrooms, 1344 square feet. This is your traditional manufactured home with well sized bedrooms and a good amount of space. Located in Alyson Manor Mobile Estates amenities include a community center with a kitchen, newer heated swimming pool, a playground, mature landscaping, a park, and on-site management. There are no age restrictions and pets are welcome at Alyson Manor All buyers and occupants must be screened and approved by the park office. Truly a MUST SEE! Contact Your Favorite Realtor TODAY! for a Private Showing!!

Key facts

• Fully remodeled home
• New led lighting
• Sleek countertops

Tags

• FULLY REMODELED HOME
• BRIGHT OPEN-CONCEPT FLOOR PLAN
• BRAND-NEW CABINETRY
• SLEEK COUNTERTOPS
• NEW LED LIGHTING
• FULLY UPDATED BATHROOMS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $99k.

Deal economics

• At list price, monthly cash flow is $676 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Cap rate 14.5% 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; 11 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 64% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $684 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 + 0.6% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.
• Current owner paid $40k; list at $99k implies a 148% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; 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 $99,000

Questions for the listing agent

1. Built in 1972 — 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. 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: 1.61% ✓
• Cap rate: 14.49%
• Cash-on-cash: 29.28%
• DSCR: 2.30
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $120,960
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2021 Mahan Ave Unit A4	0.00mi	3/2.0	1,344 (0%)	1mo	$101,500	$76	99
2021 Mahan Ave Spc M4 Ave	0.14mi	3/2.0	1,344 (0%)	12mo	$135,000	$100	84
2021 Mahan Ave Unit K6	0.12mi	3/2.0	1,380 (+3%)	12mo	$66,700	$48	80
2021 Mahan Ave G1 Ave Unit G1	0.17mi	3/2.0	1,512 (+12%)	8mo	$136,000	$90	65

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: 21.2%
• Equity multiple: 1.84×
• Total profit: $23,273
• Equity at exit: $14,761

10-year hold

• IRR: 27.8%
• Equity multiple: 3.20×
• Total profit: $61,021
• Equity at exit: $8,560

Cash invested: $27,720 (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: 5.2×

Monthly cashflow live

• Estimated rent: $1,589 high
• Mortgage (P&I): −$519
• Tax from tax record: −$19 /mo · $228/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $676

Break-even live

Break-even rent $733

Max offer price $99,000

Occupancy floor 52%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1900 Stevens Dr Richland, WA	1.0–2.0	1.0	816	$1,425	$1.75	21d	23	0.29mi
1928 George Washington Way Richland, WA	3.0	1.5	1395	$1,350	$0.97	13d	1	0.58mi
1911 Hoxie Ave Unit C Richland, WA	2.0	1.0	891	$1,500	$1.68	43d	1	0.60mi
1621 George Washington Way Richland, WA	1.0–3.0	1.0–2.0	907	$1,345	$1.48	21d	1	0.83mi
140 Van Giesen St Richland, WA	2.0	1.5	900	$1,195	$1.33	43d	1	0.83mi
1500 Thayer Dr Unit 1500 Richland, WA	3.0	1.0	1175	$1,695	$1.44	13d	1	1.01mi
1426 McPherson Ave Unit N/A Richland, WA	2.0	1.0	1400	$1,600	$1.14	43d	1	1.05mi
1418 Mahan Ave Richland, WA	3.0	1.0	1750	$1,595	$0.91	43d	1	1.07mi
1412 Keller Ave Unit 141 Keller Richland, WA	3.0	1.5	1350	$1,900	$1.41	43d	1	1.09mi
1347 Thayer Dr Richland, WA	3.0	1.0	1667	$1,800	$1.08	43d	1	1.20mi
1310 Williams Blvd Unit 1310 Richland, WA	4.0	1.0	1175	$1,750	$1.49	43d	1	1.33mi

Listing history 5 events

1. 2026-04-06
   status Pending
2. 2026-04-05
   listed $99,000 Active
3. 2022-11-16
   soldstatus $39,900 Closed 570-char remark

   Show marketing remark (570 chars)

   MLS# 264988 Welcome Home! 3 bedroom, 2 bathrooms, 1344 square feet. This is your traditional manufactured home with well sized bedrooms and a good amount of space. Located in Alyson Manor Mobile Estates amenities include a community center with a kitchen, newer heated swimming pool, a playground, mature landscaping, a park, and on-site management. There are no age restrictions and pets are welcome at Alyson Manor All buyers and occupants must be screened and approved by the park office. Truly a MUST SEE! Contact Your Favorite Realtor TODAY! for a Private Showing!!

4. 2022-10-24
   historical Active Under Contract 570-char remark

   Show marketing remark (570 chars)

   MLS# 264988 Welcome Home! 3 bedroom, 2 bathrooms, 1344 square feet. This is your traditional manufactured home with well sized bedrooms and a good amount of space. Located in Alyson Manor Mobile Estates amenities include a community center with a kitchen, newer heated swimming pool, a playground, mature landscaping, a park, and on-site management. There are no age restrictions and pets are welcome at Alyson Manor All buyers and occupants must be screened and approved by the park office. Truly a MUST SEE! Contact Your Favorite Realtor TODAY! for a Private Showing!!

5. 2022-10-20
   listed $39,900 Active 570-char remark

   Show marketing remark (570 chars)

   MLS# 264988 Welcome Home! 3 bedroom, 2 bathrooms, 1344 square feet. This is your traditional manufactured home with well sized bedrooms and a good amount of space. Located in Alyson Manor Mobile Estates amenities include a community center with a kitchen, newer heated swimming pool, a playground, mature landscaping, a park, and on-site management. There are no age restrictions and pets are welcome at Alyson Manor All buyers and occupants must be screened and approved by the park office. Truly a MUST SEE! Contact Your Favorite Realtor TODAY! for a Private Showing!!

ⓘ 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: $228 · $19/mo
• Projected year-2 tax: $970 · $81/mo
• Expected delta: +$742/yr (+$62/mo · 326.1%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X · 27% 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: $19,074
• − Mortgage interest: −$5,546
• − Property taxes: −$228
• − Insurance: −$495
• − Repairs & maintenance: −$1,526
• − Management: −$1,526
• − Depreciation: −$2,880
• Taxable income: $6,874
• Est. tax owed @ 24.0%: −$1,650
• After-tax cash flow: $6,466/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

+148.1% since first listed

5 events — show timeline

• 2026-04-06 Pending — NWMLS as Distributed by MLS Grid
• 2026-04-05 Listed $99,000 NWMLS as Distributed by MLS Grid
• 2022-11-16 Sold (MLS) $39,900 PACMLS
• 2022-10-24 Contingent — PACMLS
• 2022-10-20 Listed $39,900 PACMLS

Property tax history

+4.8%/yr

Latest (2025): $228 · -0.5% YoY. Source: county tax records.