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Pasco Hard Money Lenders

 

Pasco Hard Money Loans

Intrust Funding is a Pasco private lender providing direct lender loans to investors in Franklin County. Acquire your next property, renovate your next investment, or cash-out refi your last loan today. With funding in 48 hours, no inspections, no appraisals, and a simple 1% per month interest rate, Intrust Funding is real estate investing simplified.

Part of the Tri-Cities region in Southeastern Washington, Pasco has a dynamic and diverse population of over 74,000. Its robust agricultural sector and its burgeoning technology and healthcare sectors provide a solid economic foundation for real estate investments. The city’s commitment to growth, as evidenced by its ongoing infrastructural development and community revitalization projects, further enhances its appeal. With its mix of suburban neighborhoods and commercial districts, Pasco offers diverse real estate investment opportunities.

 

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A Real Estate Investor’s Quick Guide to Pasco

Market Trends & Home Values
Market Trends & Home Values

Market Trends & Home Values

In October 2023, Pasco’s home prices were up by 4.8% year-over-year, reaching a median price of $415K. Homes in Pasco were selling after an average of 55 days on the market. In November 2023, the median listing home price was reported at $490K, indicating a 3.2% increase from the previous year.

Market Dynamics
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Market Dynamics

Market Dynamics

As of November 2023, Pasco home prices showed a 1.9% increase compared to the previous year, with a median sale price of $395K. The average time on the market for homes was 48 days, which is an increase compared to the previous year.

Inventory & Sales
Inventory & Sales

Inventory & Sales

There was a decrease in the number of homes sold in Pasco as of November 2023, with 48 homes sold, down from 62 the previous year. This data, combined with the slight increase in home prices, suggests a steady market but with less transactional volume compared to the previous year.

Population Movement
Population Movement

Population Movement

Between September and November 2023, 56% of Pasco homebuyers looked to move out of Pasco, while 44% sought properties within the metropolitan area. Seattle homebuyers showed the most interest in moving to Pasco, followed by those from Los Angeles and Portland.

Environmental Risks
Environmental Risks

Environmental Risks

Pasco faces several environmental risks, including major risks of flooding affecting 17% of properties, moderate wildfire risk impacting 51% of properties, minimal risk from severe winds, and major risk from heat affecting 99% of properties. Pasco is expected to experience a significant increase in the number of days over 100 ºF over the next 30 years.

Infrastructure & Accessibility
Infrastructure & Accessibility

Infrastructure & Accessibility

Pasco is considered car-dependent, with a Walk Score of 38 out of 100. It has some transit options with a Transit Score of 33 and is somewhat bikeable with a Bike Score of 42.

Investment Returns
Investment Returns

Investment Returns

Pasco’s real estate market has demonstrated strong long-term growth. Over the last decade, Pasco’s real estate appreciated by 118.37%, with an average annual appreciation rate of 8.12%, ranking it in the top 20% nationally for real estate appreciation. Despite this impressive long-term performance, the recent trend shows a slight decline. In the last twelve months, the appreciation rate in Pasco was 1.43%, lower than most communities in America, and the latest quarterly rate was at 1.75%. However, relative to other cities and towns in Washington, Pasco’s latest annual appreciation rate is higher than 80% of them, indicating a strong position within the state.

A Real Estate Investor’s Guide to Pasco

Pasco, WA
Franklin County
Geography
Employment
Transportation

Pasco, WA

Pasco is a city in, and the county seat of, Franklin County, Washington, United States. It had a population of 59,781 at the 2010 census, and 75,432 as of the July 1, 2019 Census Bureau estimate.

Pasco is one of three cities (the others being Kennewick and Richland) that make up Washington state’s Tri-Cities region, a mid-sized metropolitan area of approximately 296,224 people.

In 1805, the Lewis and Clark Expedition camped at the confluence of the Columbia and Snake rivers in an area that 200 years later is called Sacagawea State Park in honor of their Native American guide. Little did they know the surrounding area would be called Pasco, today a bustling, thriving community of 78,700 people.


Franklin County

Franklin County is in south-central Washington State. The county originally formed on November 28th, 1883 when Franklin County separated from Whitman County. The new county was named after Benjamin Franklin. The Columbia River marks the western border The Snake River forms the southern and eastern borders. Franklin County is adjacent to Adams County to the north, Whitman County to the east, Walla Walla County to the southeast, Columbia County to the southeast, Benton County to the southwest and Grant County to the northwest. Franklin County is approximately 1,265 square miles is size.


Geography

According to the United States Census Bureau, Pasco has a total area of 34.08 square miles, of which 30.50 square miles is land and 3.58 square miles is water.

As Pasco is located in Southeastern Washington, the city lies in the rain shadow of the Cascade Range. As a result, the area is a windswept desert, receiving little precipitation throughout the year. Hot summers, warm springs, and cold winters provide a stark contrast to other areas of the state.

The Columbia River borders the south side of the city, separating it from the neighboring cities of Richland and Kennewick.

 


Employment

Pasco has an unemployment rate of 7.0%. The US average is 6.0%.

Pasco has seen the job market increase by 1.5% over the last year. Future job growth over the next ten years is predicted to be 36.8%, which is higher than the US average of 33.5%.


Transportation

Pasco Intermodal Train Station, a stop on Amtrak’s Empire Builder, with daily service with its southwest-bound section heading to Portland. Eastbound, it heads to Spokane, St. Paul, and Chicago with many intermediate points. (The train’s other section goes from Spokane to Seattle.) Tri-Cities Airport, with commercial service to Burbank, Denver, Las Vegas, Los Angeles, Minneapolis-St. Paul, Phoenix, Salt Lake City, San Francisco, Seattle-Tacoma.


Pasco, WA

Pasco is a city in, and the county seat of, Franklin County, Washington, United States. It had a population of 59,781 at the 2010 census, and 75,432 as of the July 1, 2019 Census Bureau estimate.

Pasco is one of three cities (the others being Kennewick and Richland) that make up Washington state’s Tri-Cities region, a mid-sized metropolitan area of approximately 296,224 people.

In 1805, the Lewis and Clark Expedition camped at the confluence of the Columbia and Snake rivers in an area that 200 years later is called Sacagawea State Park in honor of their Native American guide. Little did they know the surrounding area would be called Pasco, today a bustling, thriving community of 78,700 people.

Franklin County

Franklin County is in south-central Washington State. The county originally formed on November 28th, 1883 when Franklin County separated from Whitman County. The new county was named after Benjamin Franklin. The Columbia River marks the western border The Snake River forms the southern and eastern borders. Franklin County is adjacent to Adams County to the north, Whitman County to the east, Walla Walla County to the southeast, Columbia County to the southeast, Benton County to the southwest and Grant County to the northwest. Franklin County is approximately 1,265 square miles is size.

Geography

According to the United States Census Bureau, Pasco has a total area of 34.08 square miles, of which 30.50 square miles is land and 3.58 square miles is water.

As Pasco is located in Southeastern Washington, the city lies in the rain shadow of the Cascade Range. As a result, the area is a windswept desert, receiving little precipitation throughout the year. Hot summers, warm springs, and cold winters provide a stark contrast to other areas of the state.

The Columbia River borders the south side of the city, separating it from the neighboring cities of Richland and Kennewick.

Employment

Pasco has an unemployment rate of 7.0%. The US average is 6.0%.

Pasco has seen the job market increase by 1.5% over the last year. Future job growth over the next ten years is predicted to be 36.8%, which is higher than the US average of 33.5%.

Transportation

Pasco Intermodal Train Station, a stop on Amtrak’s Empire Builder, with daily service with its southwest-bound section heading to Portland. Eastbound, it heads to Spokane, St. Paul, and Chicago with many intermediate points. (The train’s other section goes from Spokane to Seattle.) Tri-Cities Airport, with commercial service to Burbank, Denver, Las Vegas, Los Angeles, Minneapolis-St. Paul, Phoenix, Salt Lake City, San Francisco, Seattle-Tacoma.

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