1505 S Road 40 Trailer 804 #804 · Pasco, WA 99301

$92,000

2 bd · 1.0 ba · 576 sqft · Manufactured public records · 9 Days on market

Built 1974

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Schools +3.4/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

MLS# 293828 Welcome to this charming 2-bedroom, 1-bath home that has been taken down to the studs and rebuilt from the inside out. This isn't a cosmetic flip — nearly everything here is brand new, giving you the peace of mind of new construction at a price that makes owning your own home a reality. Step inside to an open-concept living and kitchen area filled with natural light. The kitchen is the showstopper: crisp white shaker cabinets, quartz countertops, a center island with designer fluted wood detailing, a stainless range hood, and a modern matte-black faucet. New luxury vinyl plank flooring runs throughout, paired with fresh drywall, designer gray paint, and recessed lighting i

Key facts

• Quartz countertops
• Stainless range hood
• Fresh drywall

Tags

• CRISP WHITE SHAKER CABINETS
• QUARTZ COUNTERTOPS
• STAINLESS RANGE HOOD
• MODERN MATTE-BLACK FAUCET
• FRESH DRYWALL
• DESIGNER GRAY PAINT

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Sewer connected; Electricity connected
• Home design: Manufactured home (single wide); One story; Residential property in a multi-family zoning area; New construction
• Construction: Manufactured construction
• Exterior features: Public water; Sewer connected; Electricity on property

Interior

• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central Air conditioning
• Interior features: Laminate flooring; No basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $92k.

Deal economics

• At list price, monthly cash flow is $547 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $92k).
• Cap rate 13.4% vs local median 3.0% in Pasco — 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 (#104 in WA, #1,999 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: crime D+.
• Pasco School District (suburban): math 31% / reading 40% proficiency, ranked #242 of 291 in WA (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Virgie Robinson Elementary (500 students, 95% FRL); Ellen Ochoa Middle School (886 students, 96% FRL); Chiawana Senior High School (2,999 students, 67% FRL) — zoned schools average 86% FRL vs 61% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.0%/yr); 711 active listings in the ZIP; solid renter incomes; 981 units permitted in Franklin County in 2024 (517 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $636 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Franklin County population projected at +50% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.0% rent growth), your $26k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $92,000

Questions for the listing agent

1. Built in 1974 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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.
6. 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.
7. 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: 1.63% ✓
• Cap rate: 13.43%
• Cash-on-cash: 25.49%
• DSCR: 2.13
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.99% rent growth · sell at horizon

5-year hold

• IRR: 17.9%
• Equity multiple: 1.72×
• Total profit: $18,456
• Equity at exit: $13,717

10-year hold

• IRR: 25.7%
• Equity multiple: 3.13×
• Total profit: $54,977
• Equity at exit: $7,954

Cash invested: $25,760 (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 99301

• Rents YoY: 2.0%
• Active inventory: 711
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,497 medium
• Mortgage (P&I): −$482
• Tax est. 1.5%: −$115 /mo · $1,380/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $547

Break-even live

Break-even rent $805

Max offer price $92,000

Occupancy floor 58%

Sensitivity live

Price	-10% $611	-5% $579	+0% $547	+5% $515	+10% $484
Rent	-10% $429	-5% $488	+0% $547	+5% $606	+10% $665
Rate	-1.0pp $593	-0.5pp $571	base $547	+0.5pp $523	+1.0pp $499

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: $23,000
• Closing costs: $2,760
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-21
   days on market $92,000 Active 9 DOM
2. 2026-06-18
   days on market $92,000 Active 6 DOM
3. 2026-06-17
   days on market $92,000 Active 5 DOM
4. 2026-06-16
   days on market $92,000 Active 4 DOM
5. 2026-06-15
   days on market $92,000 Active 3 DOM
6. 2026-06-13
   remarks 693-char remark
7. 2026-06-13
   listed $92,000 Active 1 DOM

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 5 d/yr ≥100°F today · 11 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 10 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,969
• − Mortgage interest: −$5,153
• − Property taxes: −$1,380
• − Insurance: −$460
• − Repairs & maintenance: −$1,437
• − Management: −$1,437
• − Depreciation: −$2,676
• Taxable income: $5,424
• Est. tax owed @ 24.0%: −$1,302
• After-tax cash flow: $5,264/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: Pasco School District
• NCES district ID: 5306570
• Math proficiency: 31% ▬ 0.00%
• Reading proficiency: 40% ▬ 0.00%
• Median HH income: $54,454
• Composite: 33.78/100
• National rank: #10401
• State rank: #242 of 291 in WA

Livability — Pasco

• Score: 79/100
• State rank: #104
• US rank: #1999

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pasco, WA
• County: Franklin County · 87,044 people
• City population: 87,044
• Metro: Kennewick-Richland, WA
• Population (ZIP): 87,044
• Household income: $87,951
• Rent vs Own: 28.6% rent · 71.4% own
• Severe rent burden: 1556.0

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 108,530 people
• By 2030: 118,705 · +9.4%
• By 2040: 140,053 · +29.0%
• By 2050: 162,360 · +49.6%
• By 2075: 217,667 · +100.6%
• By 2100: 264,533 · +143.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Hispanic / Latino 55% White 37% Two or more races 22% Black 2% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 51%
• Common ancestry: Lithuanian 2% Italian 2% Portuguese 2%
• Foreign-born: 21% · Canada, Vietnam
• Languages at home: 49% English-only · Spanish 47% Russian/Polish/Slavic 2% Other Asian/Pacific 0%

Political lean MEDSL · Franklin

• 2024 margin: Strong R (+22.7) · D 37.4% · R 60.1% · Other 2.4%
• 2008→2024 swing: +1.0pp toward D · 2008: -23.7pp · 2024: -22.7pp
• All cycles: 2024: R+22.7 2020: R+14.5 2016: R+17.1 2012: R+25.2 2008: R+23.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -331.74%
• Current HPI: 284.481
• Rent YoY: ▲ 1.99%
• 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

• 2026-06-12 Listed $92,000 PACMLS

Property tax history

+7.4%/yr

Latest (2025): $22 · -0.5% YoY. Source: county tax records.