4203 W Kennewick Ave #1 · Kennewick, WA 99336

$1,800

3 bd · 1.5 ba · 1,152 sqft · Condo public records · 83 Days on market

Built 1975 $335/mo HOA · 19% of rent

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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
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.6/10.0
• Livability +3.9/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MLS# 290933 MLS# 289075 This beautiful and spacious 3-bedroom condo has been completely re-done including new kitchen, new laminate flooring throughout and newly painted in 2025. Large rooms with a wall of built-in storage in the living room and a similar wall of storage in the primary bedroom. There is a pool for residents; one covered carport space with large storage unit. Owner will consider a lease-option with a $5,000 deposit. Purchase Price to be based on appraisal at time of exercising option but no less than $269,000Rental Income Requirement of 2.5 x rent

Key facts

• Laminate flooring
• New kitchen
• Pool for residents

Tags

• NEW KITCHEN
• LAMINATE FLOORING
• BUILT-IN STORAGE
• POOL FOR RESIDENTS
• COVERED CARPORT SPACE
• LARGE STORAGE UNIT

🏷️ Possibly a rental listed for sale. The $1,800 price doesn't fit this home's estimated sale value 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/1.5-bath condo listed at $2k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/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 (6.0% below list) — sets the bar for market timing.
• Cap rate 702.6% vs local median 3.3% in Kennewick — 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 78/100 on livability (#131 in WA, #2,599 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A; Watch: amenities D+, crime F.
• Kennewick School District (urban): math 43% / reading 58% proficiency, ranked #141 of 291 in WA (top 48%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Edison Elementary School (325 students, 81% FRL); Highlands Middle School (750 students, 84% FRL); Southridge High School (1,641 students, 55% FRL) — zoned schools average 73% FRL vs 48% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.4%/yr); 292 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,532 units permitted in Benton County in 2024 (389 in 5+ unit buildings).
• This rent runs 34% 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 $12 of loan paydown is wiped out by about $54 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 + 3.4% rent growth), your $504 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($2k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 15y ago; this cycle's ask has dropped $1.80M (100%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,692 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. Crime grade is F 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?
9. 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?
10. 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.
11. 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.
12. 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: 97.89% ✓
• Cap rate: 702.64%
• Cash-on-cash: 2486.95%
• DSCR: 111.66
• GRM: 0.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.39% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 134.26×
• Total profit: $67,161
• Equity at exit: $268

10-year hold

• IRR: —
• Equity multiple: 294.57×
• Total profit: $147,960
• Equity at exit: $156

Cash invested: $504 (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 99336

• Rents YoY: 3.4%
• Active inventory: 292
• Price-to-rent: 0.1×

Monthly cashflow live

• Estimated rent: $1,762 high
• Mortgage (P&I): −$9
• Tax est. 1.5%: −$2 /mo · $27/yr
• Insurance: −$1
• HOA: −$335
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $1,045

Break-even live

Break-even rent $440

Max offer price $1,800

Occupancy floor 36%

Sensitivity live

Price	-10% $1,046	-5% $1,045	+0% $1,045	+5% $1,044	+10% $1,043
Rent	-10% $905	-5% $975	+0% $1,045	+5% $1,114	+10% $1,184
Rate	-1.0pp $1,045	-0.5pp $1,045	base $1,045	+0.5pp $1,044	+1.0pp $1,044

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: $450
• Closing costs: $54
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
108 S Tweedt Pl Kennewick, WA	2.0	2.0	1258	$1,795	$1.43	45d	1	0.05mi
4215 W 2nd Ave Kennewick, WA	3.0	2.0	1348	$2,595	$1.93	45d	1	0.08mi
4108 W Albany Ave Unit A-D Kennewick, WA	2.0	1.5	945	$1,395	$1.48	45d	1	0.14mi
200 S Union St Kennewick, WA	2.0	1.0–1.5	860	$1,348	$1.57	15d	2	0.23mi
3703 W Kennewick Ave Kennewick, WA	1.0–2.0	1.0	782	$1,594	$2.04	15d	8	0.26mi
12 S Morain St Kennewick, WA	1.0–3.0	1.0	604	$1,599	$2.65	15d	3	0.34mi
E 6th Ave Kennewick, WA	2.0	1.0	1100	$1,500	$1.36	45d	1	0.40mi
440 N Volland St Kennewick, WA	1.0–3.0	1.0–1.5	958	$1,600	$1.67	15d	7	0.41mi
400 S Morain St #7 Kennewick, WA	3.0	2.5	1100	$1,500	$1.36	22d	1	0.42mi
3708 W 6th Ave Unit B Kennewick, WA	2.0	1.0	918	$1,325	$1.44	45d	1	0.46mi
455 S Morain St Kennewick, WA	2.0	1.0	775	$1,950	$2.52	45d	1	0.47mi
4421 W Hood Ave Kennewick, WA	2.0	1.5	942	$1,412	$1.50	15d	3	0.48mi
717 S Union St Kennewick, WA	3.0	1.0	1340	$1,895	$1.41	45d	1	0.49mi
445 N Volland St Kennewick, WA	1.0–2.0	1.0	735	$1,294	$1.76	15d	7	0.51mi
3887 W 7th Ave Unit B-230 Kennewick, WA	3.0	2.0	1262	$1,850	$1.47	22d	1	0.51mi
318 N Arthur St Kennewick, WA	2.0–3.0	2.0	1113	$1,975	$1.77	15d	1	0.52mi
609 N Tweedt St Kennewick, WA	2.0	1.0	950	$1,295	$1.36	15d	1	0.54mi
325 S Johnson St Kennewick, WA	2.0	1.5	1100	$1,495	$1.36	45d	1	0.56mi
460 N Arthur St Kennewick, WA	2.0	1.0–2.0	749	$1,700	$2.27	15d	7	0.58mi
3426 W 7th Ave Unit A130 Kennewick, WA	2.0	2.0	1000	$1,650	$1.65	45d	1	0.60mi
3426 W 7th Ave Kennewick, WA	2.0	2.0	1000	$1,600	$1.60	22d	1	0.60mi
3120 W 4th Ave Kennewick, WA	2.0	1.0	963	$1,550	$1.61	15d	1	0.62mi
3120 W 4th Ave Apt 120 Kennewick, WA	2.0	1.0	963	$1,625	$1.69	15d	1	0.62mi
3120 W 4th Ave Unit 360 Kennewick, WA	2.0	1.0	963	$1,550	$1.61	45d	1	0.62mi
3320 W 9th Ave Unit 30 Kennewick, WA	2.0	2.0	1200	$1,400	$1.17	45d	1	0.69mi
465 N Arthur St Kennewick, WA	2.0	1.0	717	$1,550	$2.16	45d	1	0.69mi
801 N Tweedt St Kennewick, WA	1.0–2.0	1.0	779	$1,350	$1.73	22d	3	0.70mi
5100 W Clearwater Ave Kennewick, WA	1.0–3.0	1.0–2.0	1068	$1,843	$1.72	15d	6	0.71mi
507 N Arthur St Kennewick, WA	1.0–2.0	1.0	809	$1,399	$1.73	15d	6	0.72mi
N Johnson St Kennewick, WA	2.0	1.5	1100	$1,450	$1.32	22d	3	0.73mi
720 N Arthur St Kennewick, WA	3.0	1.5	1200	$1,545	$1.29	15d	9	0.76mi
530 N Edison St Kennewick, WA	1.0–2.0	1.0	700	$1,657	$2.37	15d	11	0.76mi
3119 W 7th Ave Kennewick, WA	3.0	2.5	1500	$2,050	$1.37	15d	1	0.77mi
3119 W 7th Ave Unit C120 Kennewick, WA	3.0	2.5	1500	$2,050	$1.37	22d	1	0.77mi
4711 W Metaline Ave Kennewick, WA	1.0–2.0	1.0	777	$1,525	$1.96	22d	7	0.79mi
3113 W 7th Ave Unit D110 Kennewick, WA	2.0	2.5	1000	$1,750	$1.75	15d	1	0.79mi
1013 N Neel St Kennewick, WA	2.0	1.0	1000	$1,650	$1.65	45d	1	0.86mi
100 N Irving Pl Unit C203 Kennewick, WA	2.0	1.0	858	$1,275	$1.49	46d	1	0.92mi
100 N Irving Pl Unit K101 Kennewick, WA	3.0	1.5	1120	$1,700	$1.52	46d	1	0.92mi
100 N Irving Pl Unit E105 Kennewick, WA	2.0	1.0	858	$1,450	$1.69	46d	1	0.92mi

HOA detail condo

• Monthly dues: $335 · $4,020/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-03-04
   price $1,800 570-char remark

   Show marketing remark (570 chars)

   MLS# 290933 MLS# 289075 This beautiful and spacious 3-bedroom condo has been completely re-done including new kitchen, new laminate flooring throughout and newly painted in 2025. Large rooms with a wall of built-in storage in the living room and a similar wall of storage in the primary bedroom. There is a pool for residents; one covered carport space with large storage unit. Owner will consider a lease-option with a $5,000 deposit. Purchase Price to be based on appraisal at time of exercising option but no less than $269,000Rental Income Requirement of 2.5 x rent

2. 2026-03-04
   listed $1,800,000 Active 570-char remark

   Show marketing remark (570 chars)

   MLS# 290933 MLS# 289075 This beautiful and spacious 3-bedroom condo has been completely re-done including new kitchen, new laminate flooring throughout and newly painted in 2025. Large rooms with a wall of built-in storage in the living room and a similar wall of storage in the primary bedroom. There is a pool for residents; one covered carport space with large storage unit. Owner will consider a lease-option with a $5,000 deposit. Purchase Price to be based on appraisal at time of exercising option but no less than $269,000Rental Income Requirement of 2.5 x rent

3. 2026-03-02
   status Active 593-char remark

   Show marketing remark (593 chars)

   MLS# 289075 This beautiful and spacious 3-bedroom condo has been completely re-done including new kitchen, new laminate flooring throughout and newly painted in 2025. Large rooms with a wall of built-in storage in the living room and a similar wall of storage in the primary bedroom. There is a pool for residents; one covered carport space with large storage unit. Owner will consider carrying a 3-year balloon note with 25% downpayment. Owner will consider a lease-option with a $5,000 deposit. Purchase Price to be based on appraisal at time of exercising option but no less than $275,000.

4. 2026-03-02
   price $269,000 593-char remark

   Show marketing remark (593 chars)

   MLS# 289075 This beautiful and spacious 3-bedroom condo has been completely re-done including new kitchen, new laminate flooring throughout and newly painted in 2025. Large rooms with a wall of built-in storage in the living room and a similar wall of storage in the primary bedroom. There is a pool for residents; one covered carport space with large storage unit. Owner will consider carrying a 3-year balloon note with 25% downpayment. Owner will consider a lease-option with a $5,000 deposit. Purchase Price to be based on appraisal at time of exercising option but no less than $275,000.

5. 2026-03-01
   historical 593-char remark

   Show marketing remark (593 chars)

   MLS# 289075 This beautiful and spacious 3-bedroom condo has been completely re-done including new kitchen, new laminate flooring throughout and newly painted in 2025. Large rooms with a wall of built-in storage in the living room and a similar wall of storage in the primary bedroom. There is a pool for residents; one covered carport space with large storage unit. Owner will consider carrying a 3-year balloon note with 25% downpayment. Owner will consider a lease-option with a $5,000 deposit. Purchase Price to be based on appraisal at time of exercising option but no less than $275,000.

6. 2026-01-16
   historical $1,850
7. 2025-12-30
   price $275,000 593-char remark

   Show marketing remark (593 chars)

   MLS# 289075 This beautiful and spacious 3-bedroom condo has been completely re-done including new kitchen, new laminate flooring throughout and newly painted in 2025. Large rooms with a wall of built-in storage in the living room and a similar wall of storage in the primary bedroom. There is a pool for residents; one covered carport space with large storage unit. Owner will consider carrying a 3-year balloon note with 25% downpayment. Owner will consider a lease-option with a $5,000 deposit. Purchase Price to be based on appraisal at time of exercising option but no less than $275,000.

8. 2025-11-25
   listed $1,850 Active 593-char remark

   Show marketing remark (593 chars)

   MLS# 289075 This beautiful and spacious 3-bedroom condo has been completely re-done including new kitchen, new laminate flooring throughout and newly painted in 2025. Large rooms with a wall of built-in storage in the living room and a similar wall of storage in the primary bedroom. There is a pool for residents; one covered carport space with large storage unit. Owner will consider carrying a 3-year balloon note with 25% downpayment. Owner will consider a lease-option with a $5,000 deposit. Purchase Price to be based on appraisal at time of exercising option but no less than $275,000.

9. 2025-10-04
   price $1,850
10. 2025-08-30
    listed $2,000
11. 2021-01-05
    soldstatus $172,500
12. 2020-10-11
    listed $180,000
13. 2018-12-06
    soldstatus $136,000
14. 2011-07-05
    soldstatus $95,900 Sold
15. 2011-06-30
    soldstatus $95,900
16. 2011-06-21
    status Pending
17. 2011-03-12
    listed $99,990 Active
18. 2003-05-13
    soldstatus $71,600

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 14 unhealthy d/yr today · 15 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,144
• − Mortgage interest: −$101
• − Property taxes: −$27
• − Insurance: −$9
• − Repairs & maintenance: −$1,691
• − Management: −$1,691
• − HOA: −$4,020
• − Depreciation: −$52
• Taxable income: $13,551
• Est. tax owed @ 24.0%: −$3,252
• After-tax cash flow: $9,282/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: Kennewick School District
• NCES district ID: 5303930
• Math proficiency: 43% ▼ -1.00%
• Reading proficiency: 58% ▬ 0.00%
• Median HH income: $54,191
• Composite: 45.56/100
• National rank: #5667
• State rank: #141 of 291 in WA

Livability — Kennewick

• Score: 78/100
• State rank: #131
• US rank: #2599

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kennewick, WA
• County: Benton County · 186,895 people
• City population: 104,655
• Metro: Kennewick-Richland, WA
• Population (ZIP): 50,735
• Household income: $62,527
• Rent vs Own: 51.7% rent · 48.3% own
• Severe rent burden: 2605.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 55% Hispanic / Latino 37% Two or more races 15% Black 3% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 31% Cuban 2%
• Common ancestry: Portuguese 4% Slovak 3% Romanian 1%
• Foreign-born: 16% · Canada, Jamaica
• Languages at home: 68% English-only · Spanish 29% 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: ▼ -408.26%
• Current HPI: 256.1143
• Rent YoY: ▲ 3.39%
• 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

-97.5% since first listed

18 events — show timeline

• 2026-03-04 Price Changed $1,800 PACMLS
• 2026-03-04 Listed $1,800,000 PACMLS
• 2026-03-02 Relisted — PACMLS
• 2026-03-02 Price Changed $269,000 PACMLS
• 2026-03-01 Delisted — PACMLS
• 2026-01-16 Rental Removed $1,850 APPFOLIO
• 2025-12-30 Price Changed $275,000 PACMLS
• 2025-11-25 Listed $1,850 PACMLS
• 2025-10-04 Price Changed $1,850 APPFOLIO
• 2025-08-30 Listed for Rent $2,000 APPFOLIO
• 2021-01-05 Sold (MLS) $172,500 PACMLS
• 2020-10-11 Listed $180,000 PACMLS
• 2018-12-06 Sold (Public Records) $136,000 Public Records
• 2011-07-05 Sold (MLS) $95,900 NWMLS as Distributed by MLS Grid
• 2011-06-30 Sold (Public Records) $95,900 Public Records
• 2011-06-21 Pending — NWMLS as Distributed by MLS Grid
• 2011-03-12 Listed $99,990 NWMLS as Distributed by MLS Grid
• 2003-05-13 Sold (Public Records) $71,600 Public Records

Property tax history

+5.7%/yr

Latest (2026): $1,926 · -8.5% YoY. Source: county tax records.