723 Rio Vista Loop · Richland, WA 99352

$2,195

3 bd · 2.5 ba · 1,537 sqft · SingleFamily public records · 92 Days on market

Built 2024 3,049 sqft lot $1/sqft · 99% below area

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.0/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

We do not accept 3rd party applications or viewing requests. 3 Bedroom, 2.5 Bath 1500 sqft Townhome in Richland Newer construction townhome in Richland with 3 bedrooms and 2.5 bathrooms. You will love the design-driven finishes throughout this beautiful home including the tile surround fireplace and hard surface flooring throughout. The all-white kitchen is a chef’s dream with new stainless-steel appliances comprised of a gas stove, built-in microwave, dishwasher and full tile backsplash. Not to mention the walk-in pantry and granite countertops. The light and flowing living space boasts understated luxury and the convenience of the attached garage and half bathroom on the main floor just add to this welcome feeling. The sophisticated primary bedroom offers an ensuite bathroom with glass enclosed shower while the additional two bedrooms and full bath waft in light. This home won’t last long. Interior: * 3 Bedrooms * 2.5 Bathrooms * 1500 sq ft * Lots of Natural Light * Hard Surface Flooring * Gas Fireplace * Granite Countertops * Stainless Steel Appliances * Eat-at Bar * Walk-in Pantry * Dishwasher * Built-in Microwave * Main Floor Half Bathroom * Glass Enclosed Shower * Dual Closets Exterior: * Private Backyard * Fully Fenced * Covered Patio * Attached Single-Car Garage Additional Information: * 12 Month Lease Term * No Pets * Landscaping Included Deposit & Fees Include: $1,676 Refundable Deposit $329 Non-Refundable Admin Fee $190 Carpet Care Fee (Assessed at Move-out) Please Note: Availability rates, and details are subject to change This property is professionally managed by Kenmore Team Property Management We are an equal housing opportunity provider Amenities: Landscaping Included

Key facts

• Gas stove
• All-white kitchen
• Built-in microwave

Tags

• TILE SURROUND FIREPLACE
• HARD SURFACE FLOORING
• ALL-WHITE KITCHEN
• NEW STAINLESS-STEEL APPLIANCES
• GAS STOVE
• BUILT-IN MICROWAVE

🏷️ Possibly a rental listed for sale. The $2,195 price doesn't fit this home's estimated sale value (~$374,694) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $2k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $2k).
• Recommended offer: $2k (9.0% below list) — sets the bar for market timing.
• Cap rate 938.5% 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 rising (+1.6%/yr); 544 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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 $15 of loan paydown is wiped out by about $66 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 + 1.6% rent growth), your $615 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($2k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,997 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 99.21% ✓
• Cap rate: 938.55%
• Cash-on-cash: 3329.49%
• DSCR: 149.14
• GRM: 0.1

CMA / ARV

• ARV (median comp): $374,694
• List price: $2,195
• Delta: -99.41%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
763 Rio Vista Loop	0.07mi	3/2.5	1,500 (-2%)	15mo	$429,000	$286	80
256 Ada St	0.62mi	3/2.5	1,312 (-15%)	2mo	$439,900	$335	45
2404 Camden St	0.69mi	3/1.0	1,466 (-5%)	12mo	$344,000	$235	44
2400 Concord St	0.73mi	3/1.0	1,478 (-4%)	15mo	$325,000	$220	41
1423 Arbor St	0.68mi	3/2.0	1,388 (-10%)	12mo	$388,000	$280	40
344 Cottonwood Dr	0.60mi	3/1.5	1,344 (-13%)	13mo	$375,000	$279	36
1017 Badger Valley Way	0.66mi	3/2.0	1,678 (+9%)	18mo	$450,000	$268	36
1230 View Dr	0.50mi	2/2.0 (-1)	1,678 (+9%)	23mo	$500,000	$298	35
2307 Concord St	0.72mi	3/1.0	1,450 (-6%)	24mo	$330,000	$228	31

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 · 1.6% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 172.27×
• Total profit: $105,260
• Equity at exit: $327

10-year hold

• IRR: —
• Equity multiple: 358.26×
• Total profit: $219,572
• Equity at exit: $190

Cash invested: $615 (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 99352

• Rents YoY: 1.6%
• Active inventory: 544
• Price-to-rent: 0.1×

Monthly cashflow live

• Estimated rent: $2,178 high
• Mortgage (P&I): −$12
• Tax est. 1.5%: −$3 /mo · $33/yr
• Insurance: −$1
• HOA: −$0
• Vacancy / Maint / Mgmt: −$457
• Net cashflow: $1,705

Break-even live

Break-even rent $19

Max offer price $2,195

Occupancy floor 17%

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: $549
• Closing costs: $66
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
723 Rio Vista Loop heuristic Richland, WA	3.0	2.5	1500	$2,195	$1.46	25d	1	0.03mi
731 Rio Vista Loop Richland, WA	3.0	2.5	1500	$2,195	$1.46	44d	1	0.04mi
790 Rio Vista LOOP Richland, WA	3.0	3.0	1500	$2,195	$1.46	44d	1	0.05mi
782 Rio Vista Loop Richland, WA	3.0	3.0	1500	$2,195	$1.46	44d	1	0.07mi
2550 Duportail St Richland, WA	1.0–3.0	1.0–2.0	980	$1,985	$2.03	14d	15	0.67mi
3003 Queensgate Dr Richland, WA	3.0	1.0–2.5	931	$2,030	$2.18	14d	21	0.73mi
1043 Tartarian Ave Richland, WA	2.0–3.0	2.0	1147	$2,299	$2.00	14d	20	0.91mi
501 Wright Ave Apt 1 Richland, WA	2.0	2.5	1114	$1,450	$1.30	21d	1	1.02mi
215 Casey Ave Richland, WA	2.0	1.0	1400	$1,800	$1.29	44d	1	1.25mi
414 Douglass Ave Richland, WA	3.0	2.0	1800	$1,795	$1.00	14d	1	1.28mi
902 Birch Ave Richland, WA	3.0	2.0	1600	$1,900	$1.19	14d	1	1.43mi
1211 Gillespie St Richland, WA	3.0	1.0	1800	$1,800	$1.00	44d	1	1.48mi

Listing history 8 events

1. 2026-06-03
   days on market $2,195 Active 92 DOM
2. 2026-06-02
   days on market $2,195 Active 91 DOM
3. 2026-06-01
   days on market $2,195 Active 90 DOM
4. 2026-05-31
   days on market $2,195 Active 89 DOM
5. 2026-05-30
   days on market $2,195 Active 88 DOM
6. 2026-05-18
   historical $2,195
7. 2026-03-03
   listed $2,195

   Show marketing remark (1781 chars)

   We do not accept 3rd party applications or viewing requests. 3 Bedroom, 2.5 Bath 1500 sqft Townhome in Richland Newer construction townhome in Richland with 3 bedrooms and 2.5 bathrooms. You will love the design-driven finishes throughout this beautiful home including the tile surround fireplace and hard surface flooring throughout. The all-white kitchen is a chef’s dream with new stainless-steel appliances comprised of a gas stove, built-in microwave, dishwasher and full tile backsplash. Not to mention the walk-in pantry and granite countertops. The light and flowing living space boasts understated luxury and the convenience of the attached garage and half bathroom on the main floor just add to this welcome feeling. The sophisticated primary bedroom offers an ensuite bathroom with glass enclosed shower while the additional two bedrooms and full bath waft in light. This home won’t last long. Interior: * 3 Bedrooms * 2.5 Bathrooms * 1500 sq ft * Lots of Natural Light * Hard Surface Flooring * Gas Fireplace * Granite Countertops * Stainless Steel Appliances * Eat-at Bar * Walk-in Pantry * Dishwasher * Built-in Microwave * Main Floor Half Bathroom * Glass Enclosed Shower * Dual Closets Exterior: * Private Backyard * Fully Fenced * Covered Patio * Attached Single-Car Garage Additional Information: * 12 Month Lease Term * No Pets * Landscaping Included Deposit & Fees Include: $1,676 Refundable Deposit $329 Non-Refundable Admin Fee $190 Carpet Care Fee (Assessed at Move-out) Please Note: Availability rates, and details are subject to change This property is professionally managed by Kenmore Team Property Management We are an equal housing opportunity provider Amenities: Landscaping Included

8. 2026-03-03
   listed $2,195 Active 1781-char remark

   Show marketing remark (1781 chars)

   We do not accept 3rd party applications or viewing requests. 3 Bedroom, 2.5 Bath 1500 sqft Townhome in Richland Newer construction townhome in Richland with 3 bedrooms and 2.5 bathrooms. You will love the design-driven finishes throughout this beautiful home including the tile surround fireplace and hard surface flooring throughout. The all-white kitchen is a chef’s dream with new stainless-steel appliances comprised of a gas stove, built-in microwave, dishwasher and full tile backsplash. Not to mention the walk-in pantry and granite countertops. The light and flowing living space boasts understated luxury and the convenience of the attached garage and half bathroom on the main floor just add to this welcome feeling. The sophisticated primary bedroom offers an ensuite bathroom with glass enclosed shower while the additional two bedrooms and full bath waft in light. This home won’t last long. Interior: * 3 Bedrooms * 2.5 Bathrooms * 1500 sq ft * Lots of Natural Light * Hard Surface Flooring * Gas Fireplace * Granite Countertops * Stainless Steel Appliances * Eat-at Bar * Walk-in Pantry * Dishwasher * Built-in Microwave * Main Floor Half Bathroom * Glass Enclosed Shower * Dual Closets Exterior: * Private Backyard * Fully Fenced * Covered Patio * Attached Single-Car Garage Additional Information: * 12 Month Lease Term * No Pets * Landscaping Included Deposit & Fees Include: $1,676 Refundable Deposit $329 Non-Refundable Admin Fee $190 Carpet Care Fee (Assessed at Move-out) Please Note: Availability rates, and details are subject to change This property is professionally managed by Kenmore Team Property Management We are an equal housing opportunity provider Amenities: Landscaping Included

ⓘ 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 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥99°F today · 16 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: $26,133
• − Mortgage interest: −$123
• − Property taxes: −$33
• − Insurance: −$11
• − Repairs & maintenance: −$2,091
• − Management: −$2,091
• − Depreciation: −$64
• Taxable income: $21,721
• Est. tax owed @ 24.0%: −$5,213
• After-tax cash flow: $15,250/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): 37,430
• Household income: $100,108
• Rent vs Own: 32.2% rent · 67.8% own
• Severe rent burden: 983.0

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 (73%)
• Race & ethnicity: White 73% Hispanic / Latino 14% Two or more races 10% Asian 7% Black 2%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Italian 4% Portuguese 4% Slovak 3%
• Foreign-born: 9% · Canada, South Korea, China
• Languages at home: 88% English-only · Spanish 4% Other Indo-European 3% Korean 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: ▼ -323.81%
• Current HPI: 217.3435
• Rent YoY: ▲ 1.60%
• 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

+0.0% since first listed

3 events — show timeline

• 2026-05-18 Rental Removed $2,195 APPFOLIO
• 2026-03-03 Listed for Rent $2,195 APPFOLIO
• 2026-03-03 Listed $2,195 PACMLS

Property tax history

+169.2%/yr

Latest (2026): $3,450 · +9.2% YoY. Source: county tax records.