189 S 38th Ave #8 · West Richland, WA 99353

$99,900

2 bd · 2.0 ba · 1,200 sqft · Manufactured public records · 28 Days on market

Built 1968 Est $115k · 13% 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 +13.5/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.3/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

MLS# 293157 Step inside and be amazed! This beautifully remodeled manufactured home offers 1,200 sq ft of stylish and comfortable living! This 2 bedroom, 2 bathroom home has been tastefully renovated inside with a bright modern kitchen, spacious dining area, updated finishes, and a clean, welcoming feel throughout. Bright, modern bathrooms complement the homes updated and inviting appeal. The original third bedroom was thoughtfully incorporated into the primary suite, creating a true owner's retreat with an open, relaxing feel. The large, covered porch and patio area create the perfect space for relaxing or entertaining. Think summer barbecues and all your friends over! Need something for t

Key facts

• Covered porch
• Patio area
• Carport

Tags

• REMODELED MANUFACTURED HOME
• MODERN KITCHEN
• COVERED PORCH
• PATIO AREA
• CARPORT
• STORAGE SHED

Property features AI

Exterior

• Parking: Carport; Detached parking
• Utilities: Public water; Sewer connected; Electric on property; Timed underground irrigation
• Home design: Manufactured home (double wide); Single-story
• Construction: 1968 Marlette 20x60 model; New construction (listed)
• Exterior features: Deck; Porch; Full fencing; Shed(s)

Interior

• Kitchen: Dishwasher; Microwave; Range; Oven
• Flooring: Carpet; Tile
• Bathrooms: One full bathroom; One three-quarter bathroom
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Walk-in closet(s); High ceilings

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $607 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.6% vs local median 3.2% in West 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 71/100 on livability (#236 in WA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living D+, amenities F, commute 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: 243 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 1,532 units permitted in Benton County in 2024 (389 in 5+ unit buildings).
• This rent is only 15% of the median local income ($122k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 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 + 3.0% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $98,401 (1.5% below list)

Questions for the listing agent

1. Built in 1968 — 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 B-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: 1.55% ✓
• Cap rate: 13.58%
• Cash-on-cash: 26.04%
• DSCR: 2.16
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $115,200
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21 Royal Crest Loop Pr	0.11mi	2/2.0	1,056 (-12%)	18mo	$101,000	$96	60

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: 19.7%
• Equity multiple: 1.80×
• Total profit: $22,452
• Equity at exit: $14,895

10-year hold

• IRR: 28.0%
• Equity multiple: 3.48×
• Total profit: $69,245
• Equity at exit: $8,638

Cash invested: $27,972 (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 99353

• Active inventory: 243
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,549 high
• Mortgage (P&I): −$524
• Tax from tax record: −$51 /mo · $613/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $607

Break-even live

Break-even rent $781

Max offer price $99,900

Occupancy floor 56%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
485 S 38th Ave Unit E118 West Richland, WA	2.0	2.0	1000	$1,350	$1.35	21d	1	0.21mi
485 S 38th Ave Unit B207 West Richland, WA	2.0	2.0	1001	$1,350	$1.35	44d	1	0.21mi
531 S 38th Ave West Richland, WA	1.0–2.0	1.0	740	$1,285	$1.74	13d	3	0.22mi
526 S 40th Ave Unit C208 West Richland, WA	1.0	1.0	756	$1,450	$1.92	44d	1	0.24mi
4570 Rosencrans Rd West Richland, WA	3.0	2.0	1246	$1,925	$1.54	13d	3	1.10mi

Listing history 17 events

1. 2026-06-18
   days on market $99,900 Active 28 DOM
2. 2026-06-17
   days on market $99,900 Active 27 DOM
3. 2026-06-16
   days on market $99,900 Active 26 DOM
4. 2026-06-15
   days on market $99,900 Active 25 DOM
5. 2026-06-14
   days on market $99,900 Active 23 DOM
6. 2026-06-13
   days on market $99,900 Active 22 DOM
7. 2026-06-10
   days on market $99,900 Active 20 DOM
8. 2026-06-09
   days on market $99,900 Active 19 DOM
9. 2026-06-08
   days on market $99,900 Active 18 DOM
10. 2026-06-07
    pricedays on market $99,900 Active 17 DOM
11. 2026-06-05
    days on market $101,000 Active 14 DOM
12. 2026-06-03
    days on market $101,000 Active 13 DOM
13. 2026-06-02
    days on market $101,000 Active 12 DOM
14. 2026-06-01
    days on market $101,000 Active 11 DOM
15. 2026-05-31
    days on market $101,000 Active 10 DOM
16. 2026-05-30
    days on market $101,000 Active 9 DOM
17. 2026-05-21
    listed $101,000 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: $613 · $51/mo
• Projected year-2 tax: $979 · $82/mo
• Expected delta: +$366/yr (+$30/mo · 59.6%)

ⓘ 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 · 14 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: $18,587
• − Mortgage interest: −$5,596
• − Property taxes: −$613
• − Insurance: −$500
• − Repairs & maintenance: −$1,487
• − Management: −$1,487
• − Depreciation: −$2,906
• Taxable income: $5,998
• Est. tax owed @ 24.0%: −$1,440
• After-tax cash flow: $5,845/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 — West Richland

• Score: 71/100
• State rank: #236
• US rank: #7220

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Richland, WA
• County: Benton County · 186,895 people
• City population: 19,251
• Metro: Kennewick-Richland, WA
• Population (ZIP): 19,251
• Household income: $121,845
• Rent vs Own: 16.1% rent · 83.9% own
• Severe rent burden: 254.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 15% Two or more races 15% Asian 2%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Portuguese 4% Italian 4% Lithuanian 4%
• Foreign-born: 7% · Canada, Vietnam, China
• Languages at home: 87% English-only · Spanish 10% Other Asian/Pacific 1% 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: ▼ -218.63%
• Current HPI: 239.5096
• Rent YoY: —
• 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

1 event — show timeline

• 2026-05-21 Listed $101,000 PACMLS

Property tax history

+12.1%/yr

Latest (2026): $613 · +854.3% YoY. Source: county tax records.