224204 E Main St · Finley, WA 99337

$525,000

3 bd · 3.0 ba · 3,064 sqft · MultiFamily public records · 81 Days on market

Built 1940 0.41 ac lot

---

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 +22.1/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +4.9/10.0
• Schools +2.9/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

MLS# 291739 Discover this Tri-Plex, perfectly situated on a spacious . 41-acre lot with mature trees, a sprawling lawn, and inviting open patios. This income-generating property features three remodeled units, each updated with new luxury vinyl plank flooring and plush carpet for a fresh and modern feel. The kitchens and bathrooms have been thoughtfully upgraded, with kitchens featuring butcher block countertops, new cabinetry, tiled backsplashes, and newer appliances. Two of the units are equipped with dishwashers, while the third offers the convenience of a stackable washer and dryer. Unit 1 (address 224204) is 3 BD, 1 BA; Unit 2 (address 224206) is 2 BD, 1 BA + extra room (ideal for an office/study); and Unit 3 (address 224208) is also 2 BD, 1 BA + extra room. Each unit has its own PUD meter for tenant convenience. With ample parking, a peaceful setting, and a strong rental income totaling $3,785 per month, this property presents an excellent opportunity for investors or owner-occupants looking to offset their mortgage. Whether you’re expanding your portfolio or seeking a multi-family living arrangement, this versatile Tri-Plex is a must-see!

Key facts

• Inviting open patios
• Spacious lot
• Remodeled units

Tags

• SPACIOUS LOT
• MATURE TREES
• SPRAWLING LAWN
• INVITING OPEN PATIOS
• REMODELED UNITS
• LUXURY VINYL PLANK FLOORING

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath multifamily listed at $525k.

Deal economics

• At list price, monthly cash flow is $777 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $519k (1.2% below list).
• Recommended offer: $494k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 2.8% in Finley — 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 58/100 on livability (#502 in WA) — a working-class tenant base; expect higher turnover. Strengths: housing A+, employment B, cost of living B; Watch: crime D+, schools F, amenities F.
• Finley School District (suburban): math 19% / reading 39% proficiency, ranked #265 of 291 in WA (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 249 active listings in the ZIP; solid renter incomes; 1,532 units permitted in Benton County in 2024 (389 in 5+ unit buildings).
• At $5,189/mo this rent would consume 63% of the median local household income ($99k/yr) (locally 430% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k 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

• It's been on market 81 days — a 6% lower offer ($494k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y 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 $142k; list at $525k implies a 270% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; 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 $493,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 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 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. 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.
9. 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.
10. 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: 0.99% ✗
• Cap rate: 8.22%
• Cash-on-cash: 6.89%
• DSCR: 1.31
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -6.6%
• Equity multiple: 0.76×
• Total profit: $-35,683
• Equity at exit: $78,279

10-year hold

• IRR: 3.0%
• Equity multiple: 1.22×
• Total profit: $32,221
• Equity at exit: $45,392

Cash invested: $147,000 (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 99337

• Active inventory: 249
• Price-to-rent: 22.0×

Monthly cashflow live

• Estimated rent: $5,189 medium
• Mortgage (P&I): −$2,753
• Tax from tax record: −$284 /mo · $3,405/yr
• Insurance: −$219
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,090
• Net cashflow: $777

Break-even live

Break-even rent $4,205

Max offer price $525,000

Occupancy floor 80%

Sensitivity live

Price	-10% $1,074	-5% $926	+0% $777	+5% $629	+10% $480
Rent	-10% $367	-5% $572	+0% $777	+5% $982	+10% $1,187
Rate	-1.0pp $1,042	-0.5pp $911	base $777	+0.5pp $641	+1.0pp $503

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,988
1× unit	2	1	$1,673
1× unit	1	1	$1,528
Total (3 units)			$5,189

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: $131,250
• Closing costs: $15,750
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $525,000 Active 81 DOM
2. 2026-06-18
   days on market $525,000 Active 78 DOM
3. 2026-06-17
   days on market $525,000 Active 77 DOM
4. 2026-06-16
   days on market $525,000 Active 76 DOM
5. 2026-06-15
   days on market $525,000 Active 75 DOM
6. 2026-06-14
   days on market $525,000 Active 73 DOM
7. 2026-06-13
   pricedays on market $525,000 Active 72 DOM
8. 2026-06-10
   days on market $550,000 Active 70 DOM
9. 2026-06-09
   days on market $550,000 Active 69 DOM
10. 2026-06-08
    days on market $550,000 Active 68 DOM
11. 2026-06-07
    days on market $550,000 Active 67 DOM
12. 2026-06-02
    days on market $550,000 Active 62 DOM
13. 2026-06-01
    days on market $550,000 Active 61 DOM
14. 2026-05-31
    days on market $550,000 Active 60 DOM
15. 2026-05-30
    days on market $550,000 Active 59 DOM
16. 2026-04-01
    listed $550,000 Active 1169-char remark

    Show marketing remark (1169 chars)

    MLS# 291739 Discover this Tri-Plex, perfectly situated on a spacious . 41-acre lot with mature trees, a sprawling lawn, and inviting open patios. This income-generating property features three remodeled units, each updated with new luxury vinyl plank flooring and plush carpet for a fresh and modern feel. The kitchens and bathrooms have been thoughtfully upgraded, with kitchens featuring butcher block countertops, new cabinetry, tiled backsplashes, and newer appliances. Two of the units are equipped with dishwashers, while the third offers the convenience of a stackable washer and dryer. Unit 1 (address 224204) is 3 BD, 1 BA; Unit 2 (address 224206) is 2 BD, 1 BA + extra room (ideal for an office/study); and Unit 3 (address 224208) is also 2 BD, 1 BA + extra room. Each unit has its own PUD meter for tenant convenience. With ample parking, a peaceful setting, and a strong rental income totaling $3,785 per month, this property presents an excellent opportunity for investors or owner-occupants looking to offset their mortgage. Whether you’re expanding your portfolio or seeking a multi-family living arrangement, this versatile Tri-Plex is a must-see!

17. 2025-03-06
    listed $550,000 Active
18. 2005-07-06
    soldstatus $142,000
19. 2005-07-01
    soldstatus $142,000
20. 2005-04-05
    listed $149,900

ⓘ 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: $3,405 · $284/mo
• Projected year-2 tax: $5,145 · $429/mo
• Expected delta: +$1,740/yr (+$145/mo · 51.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X · 78% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 15 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: $62,268
• − Mortgage interest: −$29,408
• − Property taxes: −$3,405
• − Insurance: −$3,422
• − Repairs & maintenance: −$4,981
• − Management: −$4,981
• − Depreciation: −$15,273
• Taxable income: $797
• Est. tax owed @ 24.0%: −$191
• After-tax cash flow: $9,135/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: Finley School District
• NCES district ID: 5302910
• Math proficiency: 19% ▲ 1.00%
• Reading proficiency: 39% ▲ 4.00%
• Median HH income: $61,141
• Composite: 29.28/100
• National rank: #11846
• State rank: #265 of 291 in WA

Livability — Finley

• Score: 58/100
• State rank: #502
• US rank: #20775

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Finley, WA
• County: Benton County · 186,895 people
• City population: 104,655
• Metro: Kennewick-Richland, WA
• Population (ZIP): 33,287
• Household income: $98,848
• Rent vs Own: 14.5% rent · 85.5% own
• Severe rent burden: 430.0

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 (67%)
• Race & ethnicity: White 67% Hispanic / Latino 26% Two or more races 13% Asian 1% Black 1%
• Hispanic origin (detail): Mexican 24%
• Common ancestry: Lithuanian 4% Portuguese 3% Iranian 2%
• Foreign-born: 12% · Canada, Vietnam
• Languages at home: 76% English-only · Spanish 20% Russian/Polish/Slavic 2%

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: ▼ -260.38%
• Current HPI: 245.5375
• Rent YoY: —
• 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

+266.9% since first listed

5 events — show timeline

• 2026-04-01 Listed $550,000 PACMLS
• 2025-03-06 Listed $550,000 PACMLS
• 2005-07-06 Sold (MLS) $142,000 PACMLS
• 2005-07-01 Sold (Public Records) $142,000 Public Records
• 2005-04-05 Listed $149,900 PACMLS

Property tax history

+5.4%/yr

Latest (2026): $3,405 · +0.8% YoY. Source: county tax records.