938 Empire St N · College Place, WA 99324

$137,000

3 bd · 2.0 ba · 1,296 sqft · Manufactured public records · 51 Days on market

Built 2008 $106/sqft · 6% above area Est $129k · 6% over ↓ 5% since listing

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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
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• ARV discount +4.7/15.0
• Schools +4.1/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Heres is your perfect cozy mobile home in one of Walla Walla/College Places nicest mobile home parks. This home has it all. Its bright and light with 2 large skylights in the kitchen and with another one in the bathroom. The kitchen has ample storage with a large counter and chairs to grab a quick bite and next to a dining room space for your kitchen table. You got three bedrooms and two baths when someone insists on staying with you. Off the living room is a nice outside space to sit during our warm spring and summer days. There's a wooden ramp for you convience. In the backyard are two sheds for all those extra specials you want to save and keep dry. This park is a great area for your mor

Key facts

• Built 2008
• Listed 50 days

Property features AI

Finance

• Other: Calculated living area approximately 1296 square feet
• Financial info: Listing is cash only
• HOA & community: Senior community; Monthly land lease of $225

Exterior

• Home design: Manufactured double-wide home; Single-story; Facing information not provided
• Construction: Manufactured house construction
• Exterior features: Located in Sunset Villa park; Directions: Off Myra Road; Empire is to the right upon entering the park

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: One-level living

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $137k.

Deal economics

• At list price, monthly cash flow is $624 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $137k).
• Recommended offer: $133k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.8% 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-.
• Walla Walla Public Schools (urban): math 41% / reading 50% proficiency, ranked #179 of 291 in WA (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 103 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 $947 of loan paydown is wiped out by about $4k 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 $38k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($133k) is reasonable based on typical stale-listing flexibility.

Recommended offer $132,890 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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: 1.34% ✓
• Cap rate: 11.76%
• Cash-on-cash: 19.53%
• DSCR: 1.87
• GRM: 6.2

CMA / ARV

• ARV (median comp): $128,966
• List price: $137,000
• Delta: 6.23%
• Verdict: FAIR
• Comps: 9 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1333 Rancho Villa	0.07mi	3/2.0	1,248 (-4%)	6mo	$137,350	$110	86
545 NE Troutdale Ave	0.09mi	3/2.0	1,406 (+8%)	9mo	$130,000	$92	74
925 NE Chelan	0.06mi	3/2.0	1,344 (+4%)	23mo	$130,000	$97	72
67 Jade St	0.65mi	3/2.0	1,344 (+4%)	2mo	$107,000	$80	62
1346 Rancho Villa Dr	0.16mi	3/2.0	1,432 (+10%)	24mo	$170,000	$119	56
840 NE Karol Loop	0.50mi	3/2.0	1,148 (-11%)	4mo	$126,000	$110	55
831 NE Dawson St	0.25mi	2/2.0 (-1)	1,116 (-14%)	16mo	$32,000	$29	46

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: 11.5%
• Equity multiple: 1.46×
• Total profit: $17,516
• Equity at exit: $20,427

10-year hold

• IRR: 20.5%
• Equity multiple: 2.73×
• Total profit: $66,260
• Equity at exit: $11,845

Cash invested: $38,360 (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: 103
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,833 high
• Mortgage (P&I): −$718
• Tax from tax record: −$48 /mo · $577/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $624

Break-even live

Break-even rent $1,043

Max offer price $137,000

Occupancy floor 61%

Sensitivity live

Price	-10% $702	-5% $663	+0% $624	+5% $586	+10% $547
Rent	-10% $480	-5% $552	+0% $624	+5% $697	+10% $769
Rate	-1.0pp $693	-0.5pp $659	base $624	+0.5pp $589	+1.0pp $553

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: $34,250
• Closing costs: $4,110
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
942 NE Spitzenburg St Apt B104 College Place, WA	2.0	1.5	975	$1,530	$1.57	44d	1	0.44mi
265 Avery St Walla Walla, WA	3.0	2.5	1268	$1,995	$1.57	44d	1	0.53mi
255 Elder Pl #3 College Place, WA	2.0	1.0	889	$1,415	$1.59	44d	1	0.67mi
22 NE Hadley Way #1 College Place, WA	2.0	2.5	1150	$2,095	$1.82	44d	1	0.70mi
70 NE Rose St Unit B College Place, WA	3.0	1.0	1500	$1,300	$0.87	44d	1	0.74mi
218 E Whitman Dr Unit 1 College Place, WA	4.0	2.5	1485	$2,240	$1.51	44d	1	0.92mi
310 SE 3rd St Unit 4 College Place, WA	2.0	1.0	1300	$1,300	$1.00	44d	1	1.07mi
23 NW Earl Ln College Place, WA	3.0	2.5	1600	$1,845	$1.15	44d	1	1.16mi
24 SE 4th St College Place, WA	3.0	1.0	1270	$2,045	$1.61	44d	1	1.20mi
512 S College Ave #1 College Place, WA	3.0	1.0	1328	$1,785	$1.34	44d	1	1.29mi
425 N 7th Ave Apt 2 Walla Walla, WA	4.0	2.5	1697	$1,795	$1.06	44d	1	1.35mi
623 W Whitman Dr Unit 623 Whitman College Place, WA	2.0	1.5	900	$1,575	$1.75	44d	1	1.37mi
418 SW 4th St Unit C College Place, WA	2.0	1.5	1150	$1,595	$1.39	44d	1	1.41mi
806 S College Ave College Place, WA	1.0–2.0	1.0–2.0	738	$1,750	$2.37	44d	3	1.45mi
309 SW 6th St Apt 1 College Place, WA	4.0	2.0	1350	$1,739	$1.29	44d	1	1.45mi

Listing history 16 events

1. 2026-06-19
   days on market $137,000 Active 51 DOM
2. 2026-06-18
   days on market $137,000 Active 50 DOM
3. 2026-06-17
   days on market $137,000 Active 49 DOM
4. 2026-06-16
   days on market $137,000 Active 48 DOM
5. 2026-06-15
   days on market $137,000 Active 47 DOM
6. 2026-06-14
   days on market $137,000 Active 45 DOM
7. 2026-06-12
   days on market $137,000 Active 44 DOM
8. 2026-06-09
   days on market $137,000 Active 41 DOM
9. 2026-06-08
   days on market $137,000 Active 40 DOM
10. 2026-06-07
    days on market $137,000 Active 39 DOM
11. 2026-06-02
    days on market $137,000 Active 34 DOM
12. 2026-06-01
    days on market $137,000 Active 33 DOM
13. 2026-05-31
    price $137,000 Active 32 DOM
14. 2026-05-31
    days on market $144,000 Active 32 DOM
15. 2026-05-30
    days on market $144,000 Active 31 DOM
16. 2026-04-29
    listed $144,000 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: $577 · $48/mo
• Projected year-2 tax: $1,343 · $112/mo
• Expected delta: +$766/yr (+$64/mo · 132.7%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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 11 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,994
• − Mortgage interest: −$7,674
• − Property taxes: −$577
• − Insurance: −$685
• − Repairs & maintenance: −$1,760
• − Management: −$1,760
• − Depreciation: −$3,985
• Taxable income: $5,553
• Est. tax owed @ 24.0%: −$1,333
• After-tax cash flow: $6,159/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: Walla Walla Public Schools
• NCES district ID: 5309450
• Math proficiency: 41% ▲ 3.00%
• Reading proficiency: 50% ▼ -1.00%
• Median HH income: $46,207
• Composite: 40.88/100
• National rank: #7531
• State rank: #179 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

-4.9% since first listed

2 events — show timeline

• 2026-05-31 Price Changed $137,000 NWMLS as Distributed by MLS Grid
• 2026-04-29 Listed $144,000 NWMLS as Distributed by MLS Grid

Property tax history

-0.2%/yr

Latest (2026): $577 · -1.5% YoY. Source: county tax records.