493 Columbia Point Dr · Richland, WA 99352

$2,450

3 bd · 2.5 ba · 1,862 sqft · Condo public records · 27 Days on market

Built 2006

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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

MLS# 268662 FOR RENT: Newly painted 3 bedroom condo at Columbia Point. Situated across from walking paths and restaurants for ease of living. Office, kitchen, living, dining and laundry on main level. All bedrooms upstairs, with two full bathrooms. Primary suite finished with walk in closet and closet organization system plus dual sink bathroom with garden tub, separate shower and toilet room.

Key facts

• Primary suite
• Dual sink bathroom
• Two story condo

Tags

• TWO STORY CONDO
• PRIMARY SUITE
• WALK IN CLOSET
• CLOSET ORGANIZATION SYSTEM
• DUAL SINK BATHROOM
• GARDEN TUB

Property features AI

Finance

• Other: Located in The Crossings subdivision; Zoned single family residential
• HOA & community: Part of a homeowners association

Exterior

• Parking: Attached 2-car garage with garage door opener; Two covered parking spaces
• Utilities: Electricity connected; Natural gas connected; Electric on property
• Home design: Two-story condominium; New construction
• Construction: Residential condominium construction
• Exterior features: Covered patio

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Oven; Refrigerator; Range
• Flooring: Carpet; Tile
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Central air conditioning; Has heating
• Interior features: Breakfast bar; Tile countertops; High ceilings; Ceiling fans; Window coverings

🏷️ Possibly a rental listed for sale. The $2,450 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/2.5-bath condo listed at $2k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/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 (1.5% below list) — sets the bar for market timing.
• Cap rate 827.8% 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; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $16 of loan paydown is wiped out by about $74 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 $686 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($2k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 20y ago; this cycle's ask has dropped $200 (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood 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 $2,413 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
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. 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?
7. 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.
8. 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.
9. 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: 99.88% ✓
• Cap rate: 827.81%
• Cash-on-cash: 2933.97%
• DSCR: 131.55
• GRM: 0.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.6% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 145.34×
• Total profit: $99,020
• Equity at exit: $365

10-year hold

• IRR: —
• Equity multiple: 300.82×
• Total profit: $205,679
• Equity at exit: $212

Cash invested: $686 (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: $2,447 medium
• Mortgage (P&I): −$13
• Tax est. 1.5%: −$3 /mo · $37/yr
• Insurance: −$1
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA est. from 1 same-building comp: −$239
• Vacancy / Maint / Mgmt: −$514
• Net cashflow: $1,611

Break-even live

Break-even rent $408

Max offer price $2,450

Occupancy floor 29%

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: $612
• Closing costs: $74
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
459 Columbia Point Dr Richland, WA	3.0	2.5	2500	$2,595	$1.04	21d	1	0.07mi
202 Falley St Richland, WA	4.0	2.0	1854	$2,650	$1.43	21d	1	1.19mi
215 Casey Ave Richland, WA	2.0	1.0	1400	$1,800	$1.29	44d	1	1.24mi
10305 Chapel Hill Blvd Pasco, WA	1.0–3.0	1.0–2.0	1045	$1,810	$1.73	14d	8	1.43mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-06-18
   days on market $2,450 Active 27 DOM
2. 2026-06-17
   days on market $2,450 Active 26 DOM
3. 2026-06-16
   days on market $2,450 Active 25 DOM
4. 2026-06-15
   days on market $2,450 Active 24 DOM
5. 2026-06-14
   days on market $2,450 Active 22 DOM
6. 2026-06-13
   days on market $2,450 Active 21 DOM
7. 2026-06-10
   days on market $2,450 Active 19 DOM
8. 2026-06-09
   days on market $2,450 Active 18 DOM
9. 2026-06-08
   days on market $2,450 Active 17 DOM
10. 2026-06-07
    days on market $2,450 Active 16 DOM
11. 2026-06-05
    days on market $2,450 Active 13 DOM
12. 2026-06-03
    days on market $2,450 Active 12 DOM
13. 2026-06-02
    days on market $2,450 Active 11 DOM
14. 2026-06-01
    days on market $2,450 Active 10 DOM
15. 2026-05-31
    days on market $2,450 Active 9 DOM
16. 2026-05-30
    days on market $2,450 Active 8 DOM
17. 2026-05-22
    listed $2,650 Active
18. 2023-06-13
    soldstatus $2,350 Closed 396-char remark

    Show marketing remark (396 chars)

    MLS# 268662 FOR RENT: Newly painted 3 bedroom condo at Columbia Point. Situated across from walking paths and restaurants for ease of living. Office, kitchen, living, dining and laundry on main level. All bedrooms upstairs, with two full bathrooms. Primary suite finished with walk in closet and closet organization system plus dual sink bathroom with garden tub, separate shower and toilet room.

19. 2023-05-31
    price $2,350 396-char remark

    Show marketing remark (396 chars)

    MLS# 268662 FOR RENT: Newly painted 3 bedroom condo at Columbia Point. Situated across from walking paths and restaurants for ease of living. Office, kitchen, living, dining and laundry on main level. All bedrooms upstairs, with two full bathrooms. Primary suite finished with walk in closet and closet organization system plus dual sink bathroom with garden tub, separate shower and toilet room.

20. 2023-05-18
    listed $2,595 Active 396-char remark

    Show marketing remark (396 chars)

    MLS# 268662 FOR RENT: Newly painted 3 bedroom condo at Columbia Point. Situated across from walking paths and restaurants for ease of living. Office, kitchen, living, dining and laundry on main level. All bedrooms upstairs, with two full bathrooms. Primary suite finished with walk in closet and closet organization system plus dual sink bathroom with garden tub, separate shower and toilet room.

21. 2022-08-20
    price $560,000
22. 2022-06-23
    listed $570,000 Active
23. 2016-06-29
    soldstatus $245,000
24. 2016-06-29
    soldstatus $245,000
25. 2016-04-30
    listed $242,000
26. 2015-02-17
    soldstatus $234,000
27. 2015-02-17
    soldstatus $234,000
28. 2014-07-10
    listed $249,000
29. 2014-02-27
    listed $269,000
30. 2007-05-18
    soldstatus $262,950
31. 2006-08-04
    listed $266,950

ⓘ 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 7/10 Severe FEMA zone X · 76% 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 7/10 Severe 11 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,365
• − Mortgage interest: −$137
• − Property taxes: −$37
• − Insurance: −$810
• − Repairs & maintenance: −$2,349
• − Management: −$2,349
• − HOA: −$2,868
• − Depreciation: −$71
• Taxable income: $20,743
• Est. tax owed @ 24.0%: −$4,978
• After-tax cash flow: $14,351/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

-99.0% since first listed

15 events — show timeline

• 2026-05-22 Listed $2,650 PACMLS
• 2023-06-13 Sold (MLS) $2,350 PACMLS
• 2023-05-31 Price Changed $2,350 PACMLS
• 2023-05-18 Listed $2,595 PACMLS
• 2022-08-20 Price Changed $560,000 PACMLS
• 2022-06-23 Listed $570,000 PACMLS
• 2016-06-29 Sold (Public Records) $245,000 Public Records
• 2016-06-29 Sold (MLS) $245,000 PACMLS
• 2016-04-30 Listed $242,000 PACMLS
• 2015-02-17 Sold (Public Records) $234,000 Public Records
• 2015-02-17 Sold (MLS) $234,000 PACMLS
• 2014-07-10 Listed $249,000 PACMLS
• 2014-02-27 Listed $269,000 PACMLS
• 2007-05-18 Sold (MLS) $262,950 PACMLS
• 2006-08-04 Listed $266,950 PACMLS

Property tax history

+1.5%/yr

Latest (2026): $3,637 · -0.8% YoY. Source: county tax records.