1413/1415 Mcpherson Ave · Richland, WA 99352

$409,900

4 bd · 2.0 ba · 3,594 sqft · MultiFamily public records · 1 Days on market

Built 1944 0.31 ac lot Est $525k · 22% under

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Why this score? — see what drove the C 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 +17.9/30.0
• ARV discount +15.0/15.0
• DSCR +5.6/10.0
• Schools +5.3/10.0
• 1% rule +4.1/10.0
• Livability +4.0/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Great investment opportunity in Richland! This duplex offers two spacious units, each with 3 bedrooms and functional living space. 1413 left side unit, features 3 bedrooms, 2 bathrooms, family rooms both upstairs and downstairs, some updates throughout, fridge that stays, basement is finished on this unit, a nice backyard, and a one-car carport. (Renter Occupied Do Not Disturb) 1415 right-side unit offers 3 bedrooms, 1 bathroom, some updates, fridge that stays and a brand-new HVAC system. Basement is partially finished on this side. The entire duplex has had a new roof and exterior paint within the last 5 years, adding value and peace of mind. A great opportunity for an owner-occupied inve

Key facts

• Finished basement
• Nice backyard
• One car carport

Tags

• INVESTMENT OPPORTUNITY
• SPACIOUS UNITS
• FINISHED BASEMENT
• NICE BACKYARD
• ONE CAR CARPORT
• NEW HVAC SYSTEM

Property features AI

Exterior

• Parking: 1 total parking space; 1 covered space; Carport; Attached carport; Off-street parking
• Utilities: Electricity connected; Electric service on property; Public water; Sewer connected
• Home design: Duplex (residential income property); Composition roof; Wood siding exterior; Concrete perimeter foundation
• Construction: Wood siding construction; Composition roof; Concrete perimeter foundation
• Exterior features: Patio; Partial fencing; Public water (city); Sewer connected

Interior

• Kitchen: Refrigerator; Range; Oven
• Flooring: Carpet
• Heating & cooling: Central air; Window unit(s); Forced air; Electric heating; Baseboard heating; Wall furnace
• Interior features: Storm windows; Finished, full and partially finished basement
• Laundry & utility: Washer and dryer

🏷️ Possibly a rental listed for sale. The $409,900 price doesn't fit this home's estimated sale value (~$524,724) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $410k.

Deal economics

• At list price, monthly cash flow is $344 ($4k/yr) — positive. Per door: $172/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $372k (9.3% below list).
• Recommended offer: $372k (9.3% below list) — sets the bar for 1% rule.
• Cap rate 7.3% 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; solid renter incomes; 1,532 units permitted in Benton County in 2024 (389 in 5+ unit buildings).
• This rent runs 45% of the median local income ($100k/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 $3k of loan paydown is wiped out by about $12k 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.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $134k; list at $410k implies a 206% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1944 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $371,600 (9.3% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1944 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.91% ✗
• Cap rate: 7.30%
• Cash-on-cash: 3.60%
• DSCR: 1.16
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $524,724
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2115-2117 Symons St	0.55mi	4/3.0	3,456 (-4%)	9mo	$505,000	$146	57

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: -12.1%
• Equity multiple: 0.57×
• Total profit: $-49,741
• Equity at exit: $61,117

10-year hold

• IRR: -5.1%
• Equity multiple: 0.69×
• Total profit: $-36,039
• Equity at exit: $35,441

Cash invested: $114,772 (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: 18.4×

Monthly cashflow live

• Estimated rent: $3,716 high
• Mortgage (P&I): −$2,150
• Tax from tax record: −$271 /mo · $3,250/yr
• Insurance: −$171
• HOA: −$0
• Vacancy / Maint / Mgmt: −$780
• Net cashflow: $344

Break-even live

Break-even rent $3,280

Max offer price $409,900

Occupancy floor 86%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$3,716
Total (2 units)			$3,716

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: $102,475
• Closing costs: $12,297
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-17
   remarks 699-char remark
2. 2026-06-17
   listed $409,900 Active 1 DOM

ⓘ 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: $3,250 · $271/mo
• Projected year-2 tax: $4,017 · $335/mo
• Expected delta: +$767/yr (+$64/mo · 23.6%)

ⓘ 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 · 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: $44,592
• − Mortgage interest: −$22,961
• − Property taxes: −$3,250
• − Insurance: −$2,050
• − Repairs & maintenance: −$3,567
• − Management: −$3,567
• − Depreciation: −$11,924
• Taxable loss: −$2,728
• Est. tax savings @ 24.0%: +$655
• After-tax cash flow: $4,788/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

+205.9% since first listed

2 events — show timeline

• 2026-06-17 Listed $409,900 PACMLS
• 2010-07-30 Sold (Public Records) $134,000 Public Records

Property tax history

+6.6%/yr

Latest (2026): $3,250 · -17.0% YoY. Source: county tax records.