312 S Columbia Center Blvd. #40 Blvd #40 · Kennewick, WA 99336

$127,900

3 bd · 2.0 ba · 1,512 sqft · Manufactured public records · 31 Days on market

Built 1991 $85/sqft · 49% above area Est $90k · 42% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.6/10.0
• Livability +3.9/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

MLS# 292023 Beautifully maintained 3-bedroom, 2-bathroom home located in a pristine 55+community. This light-filled residence features abundant windows and multiple skylights, creating a bright and inviting atmosphere throughout. The home has been exceptionally well cared for and includes ceiling fans throughout, newer roof and updated skylights. The spacious kitchen and bathrooms showcase stylish tile backsplashes, while all appliances-including washer and dryer-are included for added connivence. The laundry room is equipped with a utility sink. The primary suite offers a relaxing retreat with double sinks and a garden tub in the en-suite bathroom. Outside, enjoy a covered carport with side-by-side parking, two expansive covered wood decks perfect for entertaining or relaxing, raised garden beds, and two storage sheds -one of which is ideal for use as a workshop or hobby space. This move-in-ready home offers comfort, functionality, and outdoor living at its best in a welcoming, well kept community.

Key facts

• Multiple skylights
• Abundant windows
• Newer roof

Tags

• ABUNDANT WINDOWS
• MULTIPLE SKYLIGHTS
• CEILING FANS
• NEWER ROOF
• UPDATED SKYLIGHTS
• TILE BACKSPLASHES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $128k.

Deal economics

• At list price, monthly cash flow is $849 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $128k).
• Recommended offer: $124k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.3% 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: Ridge View Elementary School (334 students, 38% FRL); Desert Hills Middle School (889 students, 29% FRL); Kamiakin High School (1,884 students, 43% FRL).
• Market conditions: Rents rising (+3.4%/yr); 292 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 47% 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 40% 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 $884 of loan paydown is wiped out by about $4k 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 $36k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($124k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago 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.
• Current owner paid $72k; list at $128k implies a 78% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $124,063 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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 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?
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: 14.25%
• Cash-on-cash: 28.43%
• DSCR: 2.27
• GRM: 5.1

CMA / ARV

• ARV (median comp): $90,000
• List price: $127,900
• Delta: 42.11%
• Verdict: OVERPRICED
• Comps: 19 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
312 S Columbia Center Blvd #69	0.07mi	3/2.0	1,484 (-2%)	9mo	$62,000	$42	86
312 S Columbia Center Blvd. #95 Blvd #95	0.13mi	3/2.0	1,440 (-5%)	2mo	$34,250	$24	84
312 S Columbia Center Blvd. #56 Blvd #56	0.04mi	2/2.0 (-1)	1,512 (0%)	11mo	$118,500	$78	84
312 S Columbia Center Blvd Unit 21 Blvd #21	0.05mi	3/2.0	1,456 (-4%)	11mo	$129,000	$89	82
312 S Columbia Center Blvd. #72 Blvd #72	0.10mi	2/2.0 (-1)	1,456 (-4%)	3mo	$43,000	$30	82
312 S Columbia Center Blvd. #63 Blvd #63	0.05mi	3/2.0	1,404 (-7%)	6mo	$65,500	$47	81
7901 W Clearwater Ave #108	0.17mi	3/2.0	1,560 (+3%)	8mo	$91,500	$59	80
312 S Columbia Center Blvd #90	0.14mi	3/2.0	1,620 (+7%)	11mo	$110,000	$68	72
312 S Columbia Center Blvd. #89 Blvd #89	0.13mi	3/2.0	1,716 (+14%)	3mo	$75,000	$44	69
312 S Columbia Center Blvd #71 Blvd #71	0.09mi	3/2.0	1,296 (-14%)	7mo	$70,000	$54	66
7901 W Clearwater Ave #154 Ave	0.24mi	3/2.0	1,296 (-14%)	5mo	$90,000	$69	61
7901 W Clearwater Ave #137	0.32mi	3/2.0	1,296 (-14%)	2mo	$102,500	$79	60

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 · 3.39% rent growth · sell at horizon

5-year hold

• IRR: 23.1%
• Equity multiple: 1.95×
• Total profit: $34,114
• Equity at exit: $19,070

10-year hold

• IRR: 31.3%
• Equity multiple: 3.86×
• Total profit: $102,595
• Equity at exit: $11,058

Cash invested: $35,812 (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: 5.1×

Monthly cashflow live

• Estimated rent: $2,082 high
• Mortgage (P&I): −$671
• Tax from tax record: −$72 /mo · $866/yr
• Insurance: −$53
• HOA: −$0
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $849

Break-even live

Break-even rent $1,008

Max offer price $127,900

Occupancy floor 54%

Sensitivity live

Price	-10% $921	-5% $885	+0% $849	+5% $812	+10% $776
Rent	-10% $684	-5% $766	+0% $849	+5% $931	+10% $1,013
Rate	-1.0pp $913	-0.5pp $881	base $849	+0.5pp $815	+1.0pp $782

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: $31,975
• Closing costs: $3,837
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7803 W Deschutes Ave Kennewick, WA	1.0–3.0	1.0–2.0	925	$2,010	$2.17	15d	13	0.32mi
8180 W 4th Ave Kennewick, WA	2.0–3.0	2.0	1202	$2,299	$1.91	15d	4	0.33mi
7960 W 10th Ave Kennewick, WA	1.0–2.0	1.0–2.0	946	$2,345	$2.48	15d	9	0.56mi
7968 W 10th Ave Kennewick, WA	1.0–3.0	1.0–2.0	951	$2,200	$2.31	15d	10	0.58mi
24 S Quay St Unit 3 Kennewick, WA	3.0	1.5	1128	$1,625	$1.44	15d	1	0.81mi
8831 W Entiat Ave Kennewick, WA	3.0	2.0	1232	$1,995	$1.62	45d	1	0.89mi
725 N Center Pkwy Kennewick, WA	1.0–3.0	1.0–2.0	1086	$2,195	$2.02	15d	9	0.94mi
1080 N Montana St Kennewick, WA	3.0	2.0	1842	$2,600	$1.41	45d	1	1.02mi
867 S Zeelar St Kennewick, WA	4.0	2.5	1968	$2,495	$1.27	45d	1	1.26mi
883 S Zeelar St Kennewick, WA	3.0	2.5	1735	$2,395	$1.38	45d	1	1.26mi
33 N Jefferson Pl Unit 110 Kennewick, WA	3.0	2.5	1536	$1,950	$1.27	45d	1	1.32mi
5702 W Kennewick Pl #110 Kennewick, WA	3.0	2.5	1435	$1,695	$1.18	15d	1	1.38mi
100 N Irving Pl Kennewick, WA	1.0–3.0	1.0–1.5	939	$1,750	$1.86	15d	11	1.44mi
100 N Irving Pl Unit K101 Kennewick, WA	3.0	1.5	1120	$1,700	$1.52	46d	1	1.45mi
100 N Irving Pl Unit H101 Kennewick, WA	3.0	1.5	1120	$1,699	$1.52	46d	1	1.45mi

Listing history 4 events

1. 2026-05-12
   status Pending 1014-char remark

   Show marketing remark (1014 chars)

   MLS# 292023 Beautifully maintained 3-bedroom, 2-bathroom home located in a pristine 55+community. This light-filled residence features abundant windows and multiple skylights, creating a bright and inviting atmosphere throughout. The home has been exceptionally well cared for and includes ceiling fans throughout, newer roof and updated skylights. The spacious kitchen and bathrooms showcase stylish tile backsplashes, while all appliances-including washer and dryer-are included for added connivence. The laundry room is equipped with a utility sink. The primary suite offers a relaxing retreat with double sinks and a garden tub in the en-suite bathroom. Outside, enjoy a covered carport with side-by-side parking, two expansive covered wood decks perfect for entertaining or relaxing, raised garden beds, and two storage sheds -one of which is ideal for use as a workshop or hobby space. This move-in-ready home offers comfort, functionality, and outdoor living at its best in a welcoming, well kept community.

2. 2026-04-11
   listed $127,900 Active 1014-char remark

   Show marketing remark (1014 chars)

   MLS# 292023 Beautifully maintained 3-bedroom, 2-bathroom home located in a pristine 55+community. This light-filled residence features abundant windows and multiple skylights, creating a bright and inviting atmosphere throughout. The home has been exceptionally well cared for and includes ceiling fans throughout, newer roof and updated skylights. The spacious kitchen and bathrooms showcase stylish tile backsplashes, while all appliances-including washer and dryer-are included for added connivence. The laundry room is equipped with a utility sink. The primary suite offers a relaxing retreat with double sinks and a garden tub in the en-suite bathroom. Outside, enjoy a covered carport with side-by-side parking, two expansive covered wood decks perfect for entertaining or relaxing, raised garden beds, and two storage sheds -one of which is ideal for use as a workshop or hobby space. This move-in-ready home offers comfort, functionality, and outdoor living at its best in a welcoming, well kept community.

3. 2019-04-15
   soldstatus $72,000
4. 2019-03-05
   listed $79,900

ⓘ 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: $866 · $72/mo
• Projected year-2 tax: $1,253 · $104/mo
• Expected delta: +$387/yr (+$32/mo · 44.7%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥98°F today · 14 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: $24,983
• − Mortgage interest: −$7,164
• − Property taxes: −$866
• − Insurance: −$640
• − Repairs & maintenance: −$1,999
• − Management: −$1,999
• − Depreciation: −$3,721
• Taxable income: $8,595
• Est. tax owed @ 24.0%: −$2,063
• After-tax cash flow: $8,119/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

+60.1% since first listed

4 events — show timeline

• 2026-05-12 Pending — PACMLS
• 2026-04-11 Listed $127,900 PACMLS
• 2019-04-15 Sold (MLS) $72,000 PACMLS
• 2019-03-05 Listed $79,900 PACMLS

Property tax history

+4.6%/yr

Latest (2026): $866 · -5.7% YoY. Source: county tax records.