514 SW 13th St · Pendleton, OR 97801

$135,000

2 bd · 1.0 ba · 728 sqft · Manufactured public records · 228 Days on market

Built 1982 5,227 sqft lot $185/sqft · 9% below area Est $148k · 9% under

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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 +19.1/30.0
• ARV discount +11.5/15.0
• DSCR +6.0/10.0
• 1% rule +4.1/10.0
• Livability +3.1/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Really cute 2 bed 1 bath single wide. 728 sf(m/l), completely remodeled and painted. Fenced yard and small garden shed. Move in ready. Call today!

Key facts

• Fenced yard
• Small garden shed
• 5,227 sq ft lot

Tags

• FENCED YARD
• SMALL GARDEN SHED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $135k.

Deal economics

• At list price, monthly cash flow is $144 ($2k/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 $123k (9.1% below list).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 3.2% in Pendleton — 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 61/100 on livability (#267 in OR) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A; Watch: employment D+, crime D-, amenities F.
• Pendleton SD 16 (town): math 27% / reading 43% proficiency, ranked #24 of 58 in OR (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pendleton Early Learning Center (224 students, 84% FRL); Sunridge Middle School (math 28% / reading 43%, grade F, #59 of 128 statewide, top 46%, 637 students, 65% FRL); Pendleton High School (math 22% / reading 62%, grade F, #67 of 143 statewide, top 46%, 795 students, 73% FRL) — zoned schools average 74% FRL vs 44% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-2.7%/yr); 141 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 205 units permitted in Umatilla County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Umatilla County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 228 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y ago; this cycle's ask has dropped $40k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $32k; list at $135k implies a 322% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $118,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 228 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.91% ✗
• Cap rate: 7.58%
• Cash-on-cash: 4.58%
• DSCR: 1.20
• GRM: 9.2

CMA / ARV

• ARV (median comp): $148,051
• List price: $135,000
• Delta: -8.82%
• Verdict: FAIR
• Comps: 3 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -12.3%
• Equity multiple: 0.57×
• Total profit: $-16,325
• Equity at exit: $20,129

10-year hold

• IRR: -7.9%
• Equity multiple: 0.56×
• Total profit: $-16,464
• Equity at exit: $11,672

Cash invested: $37,800 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 28 Tenant-Leaning
• State Oregon: 28 Tenant-Leaning · D+6
• County: — inherits STATE
• City: — inherits STATE

SB608 (2019): statewide rent cap (7% + CPI) and just-cause for tenancies > 1 yr. Portland has relocation assistance ordinance.

Methodology + full state rankings →

ZIP-level market 97801

• Rents YoY: -2.7%
• Active inventory: 141
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,227 high
• Mortgage (P&I): −$708
• Tax from tax record: −$60 /mo · $725/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $144

Break-even live

Break-even rent $1,044

Max offer price $135,000

Occupancy floor 83%

Sensitivity live

Price	-10% $221	-5% $183	+0% $144	+5% $106	+10% $68
Rent	-10% $47	-5% $96	+0% $144	+5% $193	+10% $241
Rate	-1.0pp $212	-0.5pp $179	base $144	+0.5pp $109	+1.0pp $74

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
438 SW 5th St Pendleton, OR	2.0	1.0	795	$1,145	$1.44	45d	4	0.38mi
617 SW 3rd St Pendleton, OR	2.0	1.0	720	$1,200	$1.67	45d	1	0.46mi
110 SW Court Ave Unit 304 Pendleton, OR	2.0	2.0	740	$1,250	$1.69	45d	1	0.58mi
2601 SW Hailey Ave Pendleton, OR	1.0–2.0	2.0	816	$1,300	$1.59	45d	4	0.66mi
131 SE 5th St Apt 101 Pendleton, OR	2.0	1.0	750	$1,100	$1.47	45d	1	0.88mi
131 SE 5th St Apt 205 Pendleton, OR	1.0	1.0	600	$925	$1.54	45d	1	0.88mi
2921 Westgate Pendleton, OR	3.0	1.0–2.0	869	$1,854	$2.13	45d	23	1.21mi

Listing history 10 events

1. 2026-05-10
   status Pending 151-char remark

   Show marketing remark (151 chars)

   Really cute 2 bed 1 bath single wide. 728 sf(m/l), completely remodeled and painted. Fenced yard and small garden shed. Move in ready. Call today!

2. 2026-03-11
   price $135,000 151-char remark

   Show marketing remark (151 chars)

   Really cute 2 bed 1 bath single wide. 728 sf(m/l), completely remodeled and painted. Fenced yard and small garden shed. Move in ready. Call today!

3. 2026-01-21
   price $142,500 151-char remark

   Show marketing remark (151 chars)

   Really cute 2 bed 1 bath single wide. 728 sf(m/l), completely remodeled and painted. Fenced yard and small garden shed. Move in ready. Call today!

4. 2025-11-24
   price $149,900 151-char remark

   Show marketing remark (151 chars)

   Really cute 2 bed 1 bath single wide. 728 sf(m/l), completely remodeled and painted. Fenced yard and small garden shed. Move in ready. Call today!

5. 2025-10-20
   price $155,000 151-char remark

   Show marketing remark (151 chars)

   Really cute 2 bed 1 bath single wide. 728 sf(m/l), completely remodeled and painted. Fenced yard and small garden shed. Move in ready. Call today!

6. 2025-10-08
   price $165,000 151-char remark

   Show marketing remark (151 chars)

   Really cute 2 bed 1 bath single wide. 728 sf(m/l), completely remodeled and painted. Fenced yard and small garden shed. Move in ready. Call today!

7. 2025-09-23
   listed $175,000 Active 151-char remark

   Show marketing remark (151 chars)

   Really cute 2 bed 1 bath single wide. 728 sf(m/l), completely remodeled and painted. Fenced yard and small garden shed. Move in ready. Call today!

8. 2011-08-09
   soldstatus $32,000 71-char remark

   Show marketing remark (71 chars)

   Very clean manufactured home on the flats. Fenced yard. Storage shed.

9. 2011-08-01
   historical 71-char remark

   Show marketing remark (71 chars)

   Very clean manufactured home on the flats. Fenced yard. Storage shed.

10. 2011-07-29
    listed $40,000 71-char remark

    Show marketing remark (71 chars)

    Very clean manufactured home on the flats. Fenced yard. Storage shed.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast OR · Resets to sale price

• Current annual tax: $725 · $60/mo
• Projected year-2 tax: $1,310 · $109/mo
• Expected delta: +$584/yr (+$49/mo · 80.6%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 8 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,718
• − Mortgage interest: −$7,562
• − Property taxes: −$725
• − Insurance: −$675
• − Repairs & maintenance: −$1,177
• − Management: −$1,177
• − Depreciation: −$3,927
• Taxable loss: −$526
• Est. tax savings @ 24.0%: +$126
• After-tax cash flow: $1,858/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: Pendleton SD 16
• NCES district ID: 4109510
• Math proficiency: 27% ▼ -11.00%
• Reading proficiency: 43% ▼ -7.00%
• Median HH income: $49,009
• Composite: 30.19/100
• National rank: #6315
• State rank: #24 of 58 in OR

Livability — Pendleton

• Score: 61/100
• State rank: #267
• US rank: #17964

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pendleton, OR
• County: Umatilla County · 29,551 people
• City population: 21,575
• Metro: Hermiston-Pendleton, OR
• Population (ZIP): 21,575
• Household income: $71,639
• Rent vs Own: 39.3% rent · 60.7% own
• Severe rent burden: 866.0

Population outlook (Umatilla County) Hauer SSP2

• Today (2025): 76,329 people
• By 2030: 75,975 · -0.5%
• By 2040: 75,119 · -1.6%
• By 2050: 74,058 · -3.0%
• By 2075: 70,639 · -7.5%
• By 2100: 63,441 · -16.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Two or more races 11% Hispanic / Latino 10% Native American 7%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 4% Slovak 4% Portuguese 4%
• Foreign-born: 2% · Canada
• Languages at home: 93% English-only · Spanish 6%

Political lean MEDSL · Umatilla

• 2024 margin: Solid R (+37.8) · D 29.7% · R 67.5% · Other 2.8%
• 2008→2024 swing: -15.1pp toward R · 2008: -22.6pp · 2024: -37.8pp
• All cycles: 2024: R+37.8 2020: R+32.0 2016: R+35.6 2012: R+28.1 2008: R+22.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -312.42%
• Current HPI: 198.6911
• Rent YoY: ▼ -2.66%
• Metro: Hermiston-Pendleton, OR
• State GDP YoY: ▲ 2.05%
• F500 in state: 2

Industry mix (Fortune 500 HQ in OR)

Industry	F500 HQs	Revenue
▸Consumer Goods	1	$51B

Price history

+237.5% since first listed

10 events — show timeline

• 2026-05-10 Pending — RMLS
• 2026-03-11 Price Changed $135,000 RMLS
• 2026-01-21 Price Changed $142,500 RMLS
• 2025-11-24 Price Changed $149,900 RMLS
• 2025-10-20 Price Changed $155,000 RMLS
• 2025-10-08 Price Changed $165,000 RMLS
• 2025-09-23 Listed $175,000 RMLS
• 2011-08-09 Sold (MLS) $32,000 RMLS
• 2011-08-01 Delisted — RMLS
• 2011-07-29 Listed $40,000 RMLS

Property tax history

+4.2%/yr

Latest (2025): $725 · +2.4% YoY. Source: county tax records.