4155 NE Three Mile Ln #89 · McMinnville, OR 97128

$197,000

3 bd · 2.5 ba · 1,404 sqft · Manufactured public records · 58 Days on market

Built 2007 $140/sqft · 5% above area Est $187k · 5% over

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Why this score? — see what drove the B- 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
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• ARV discount +5.1/15.0
• Schools +4.8/10.0
• Livability +3.8/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to easy, low-maintenance living in the highly desirable 55+ community of Olde Stone Village! This well-maintained 2007 Golden West manufactured home offers 4 bedrooms, 2 bathrooms, and a versatile layout perfect for comfortable everyday living. Enjoy peace of mind with a brand new 30-year roof with transferable warranty, along with thoughtful updates including a new dishwasher, microwave, kitchen faucet, and thermostat. Stay comfortable year-round with an efficient heat pump. The home features a covered front porch—perfect for relaxing mornings or evening unwinding—and an oversized one-car garage providing extra storage and convenience.Olde Stone Village offers fantastic amenities including a seasonal pool, clubhouse, and sports court, all in a convenient location just off Hwy 18 for easy access to shopping, dining, and all that Yamhill County has to offer.Move-in ready and waiting for you to call it home!

Key facts

• Covered front porch
• Clubhouse
• Brand new roof

Tags

• BRAND NEW ROOF
• COVERED FRONT PORCH
• OVERSIZED GARAGE
• SEASONAL POOL
• CLUBHOUSE
• SPORTS COURT

Property features AI

Finance

• Other: Located in OLDE STONE VILLAGE park
• Financial info: Land lease on the lot (monthly lot rent; lease expires August 1, 2027)
• HOA & community: Community amenities include athletic court, gym, party room, and pool; Park is a senior community; Pets allowed (with restrictions)

Exterior

• Parking: Driveway parking; Attached oversized 1-car garage
• Utilities: Public water; Public sewer; No on-site fuel (electric hot water); Power via heat pump
• Home design: Manufactured home in park (model YORKSHIRE 01-521F); Single-story main living level; Resale property; No view
• Construction: Built in 2007; Composition roof; Block foundation with skirting
• Exterior features: Covered deck; Sprinkler system; T-111 siding; Leased, level lot in a park; Paved road access

Interior

• Kitchen: Double oven; Free-standing range; Free-standing refrigerator; Microwave; Dishwasher; Disposal; Pantry; Plumbed for ice maker; Eat bar
• Bedrooms: Primary bedroom on main level with ensuite bathroom, walk-in closet, and laminate/ carpet combination; Second bedroom on main level with ceiling fan and closet; Third bedroom on main level with closet; Fourth bedroom on main level with ceiling fan and closet
• Flooring: Laminate flooring in kitchen and parts of primary bedroom; Wall-to-wall carpet in living areas, dining room and bedrooms
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Heat pump for heating and cooling
• Interior features: Garage door opener; Ceiling fans in primary and some bedrooms and living area; Exterior entry from living room; Laundry area with sink and washer/dryer connections; Pantry
• Laundry & utility: Laundry area on main level with laminate flooring, sink, and washer/dryer; Washer/Dryer included (connections provided)

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath manufactured listed at $197k.

Deal economics

• At list price, monthly cash flow is $822 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $197k).
• Recommended offer: $191k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.3% vs local median 3.2% in McMinnville — 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 76/100 on livability (#79 in OR, #3,556 nationally) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing A, crime B; Watch: commute D+.
• Mcminnville SD 40 (town): math 50% / reading 58% proficiency, ranked #20 of 183 in OR (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Wascher Elementary School (383 students, 72% FRL); Patton Middle School (699 students, 66% FRL); Mcminnville High School (2,319 students, 38% FRL).
• Market conditions: Rents flat; 395 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 282 units permitted in Yamhill County in 2024 (0 in 5+ unit buildings).
• This rent runs 40% of the median local income ($76k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Yamhill County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 0.8% rent growth), your $55k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($191k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 28y 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 $18k; list at $197k implies a 994% gain — meaningful room to come down on a strong offer.

Recommended offer $191,090 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 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. 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.
4. 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.
5. 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: 1.29% ✓
• Cap rate: 11.30%
• Cash-on-cash: 17.87%
• DSCR: 1.80
• GRM: 6.4

CMA / ARV

• ARV (median comp): $187,000
• List price: $197,000
• Delta: 5.35%
• Verdict: FAIR
• Comps: 11 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4155 NE Three Mile Ln #191	0.00mi	3/2.0	1,445 (+3%)	1mo	$187,000	$129	93
4155 NE Three Mile Ln #157	0.00mi	3/2.0	1,404 (0%)	9mo	$220,000	$157	91
4155 NE Three Mile Ln #78	0.00mi	3/2.0	1,296 (-8%)	3mo	$85,000	$66	83
4155 NE Three Mile Ln #36	0.00mi	2/2.0 (-1)	1,512 (+8%)	1mo	$330,000	$218	80
4155 NE Three Mile Ln #136	0.00mi	2/2.0 (-1)	1,410 (+0%)	15mo	$279,000	$198	80
4155 NE Three Mile Ln #107	0.00mi	3/2.0	1,324 (-6%)	11mo	$173,500	$131	79
4155 NE Three Mile Ln #54	0.00mi	3/2.0	1,279 (-9%)	8mo	$161,000	$126	77
4155 NE Three Mile Ln #108	0.00mi	2/2.0 (-1)	1,544 (+10%)	2mo	$334,500	$217	75
4155 NE Three Mile Ln #53	0.00mi	3/2.0	1,568 (+12%)	8mo	$155,000	$99	72
4155 NE Three Mile Ln #7	0.00mi	3/2.0	1,568 (+12%)	12mo	$238,500	$152	68
4155 NE Three Mile Ln #104	0.00mi	2/2.0 (-1)	1,540 (+10%)	10mo	$289,000	$188	68
4155 NE Three Mile Ln #117	0.13mi	2/2.0 (-1)	1,540 (+10%)	10mo	$295,000	$192	63

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 · 0.79% rent growth · sell at horizon

5-year hold

• IRR: 7.0%
• Equity multiple: 1.27×
• Total profit: $14,794
• Equity at exit: $29,373

10-year hold

• IRR: 14.5%
• Equity multiple: 2.06×
• Total profit: $58,236
• Equity at exit: $17,033

Cash invested: $55,160 (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 97128

• Rents YoY: 0.8%
• Active inventory: 395
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $2,547 medium
• Mortgage (P&I): −$1,033
• Tax from tax record: −$75 /mo · $904/yr
• Insurance: −$82
• HOA: −$0
• Vacancy / Maint / Mgmt: −$535
• Net cashflow: $822

Break-even live

Break-even rent $1,507

Max offer price $197,000

Occupancy floor 63%

Sensitivity live

Price	-10% $933	-5% $877	+0% $822	+5% $766	+10% $710
Rent	-10% $620	-5% $721	+0% $822	+5% $922	+10% $1,023
Rate	-1.0pp $921	-0.5pp $872	base $822	+0.5pp $771	+1.0pp $719

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: $49,250
• Closing costs: $5,910
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
188 NE American Dr McMinnville, OR	4.0	2.5	1500	$2,800	$1.87	0d	1	1.13mi

Listing history 25 events

1. 2026-06-21
   days on market $197,000 Active 58 DOM
2. 2026-06-18
   days on market $197,000 Active 55 DOM
3. 2026-06-17
   days on market $197,000 Active 54 DOM
4. 2026-06-16
   days on market $197,000 Active 53 DOM
5. 2026-06-15
   days on market $197,000 Active 52 DOM
6. 2026-06-13
   days on market $197,000 Active 50 DOM
7. 2026-06-13
   days on market $197,000 Active 49 DOM
8. 2026-06-10
   price $197,000 Active 46 DOM
9. 2026-06-09
   days on market $205,000 Active 46 DOM

   Show marketing remark (939 chars)

   Welcome to easy, low-maintenance living in the highly desirable 55+ community of Olde Stone Village! This well-maintained 2007 Golden West manufactured home offers 4 bedrooms, 2 bathrooms, and a versatile layout perfect for comfortable everyday living. Enjoy peace of mind with a brand new 30-year roof with transferable warranty, along with thoughtful updates including a new dishwasher, microwave, kitchen faucet, and thermostat. Stay comfortable year-round with an efficient heat pump. The home features a covered front porch—perfect for relaxing mornings or evening unwinding—and an oversized one-car garage providing extra storage and convenience.Olde Stone Village offers fantastic amenities including a seasonal pool, clubhouse, and sports court, all in a convenient location just off Hwy 18 for easy access to shopping, dining, and all that Yamhill County has to offer.Move-in ready and waiting for you to call it home!

10. 2026-06-08
    days on market $205,000 Active 45 DOM
11. 2026-06-07
    days on market $205,000 Active 44 DOM
12. 2026-06-05
    days on market $205,000 Active 41 DOM
13. 2026-06-03
    days on market $205,000 Active 40 DOM
14. 2026-06-02
    days on market $205,000 Active 39 DOM
15. 2026-06-01
    days on market $205,000 Active 38 DOM
16. 2026-05-31
    days on market $205,000 Active 37 DOM
17. 2026-04-24
    listed $205,000 Active 939-char remark

    Show marketing remark (939 chars)

    Welcome to easy, low-maintenance living in the highly desirable 55+ community of Olde Stone Village! This well-maintained 2007 Golden West manufactured home offers 4 bedrooms, 2 bathrooms, and a versatile layout perfect for comfortable everyday living. Enjoy peace of mind with a brand new 30-year roof with transferable warranty, along with thoughtful updates including a new dishwasher, microwave, kitchen faucet, and thermostat. Stay comfortable year-round with an efficient heat pump. The home features a covered front porch—perfect for relaxing mornings or evening unwinding—and an oversized one-car garage providing extra storage and convenience.Olde Stone Village offers fantastic amenities including a seasonal pool, clubhouse, and sports court, all in a convenient location just off Hwy 18 for easy access to shopping, dining, and all that Yamhill County has to offer.Move-in ready and waiting for you to call it home!

18. 2026-04-24
    listed $205,000 Active 937-char remark

    Show marketing remark (939 chars)

    Welcome to easy, low-maintenance living in the highly desirable 55+ community of Olde Stone Village! This well-maintained 2007 Golden West manufactured home offers 4 bedrooms, 2 bathrooms, and a versatile layout perfect for comfortable everyday living. Enjoy peace of mind with a brand new 30-year roof with transferable warranty, along with thoughtful updates including a new dishwasher, microwave, kitchen faucet, and thermostat. Stay comfortable year-round with an efficient heat pump. The home features a covered front porch—perfect for relaxing mornings or evening unwinding—and an oversized one-car garage providing extra storage and convenience.Olde Stone Village offers fantastic amenities including a seasonal pool, clubhouse, and sports court, all in a convenient location just off Hwy 18 for easy access to shopping, dining, and all that Yamhill County has to offer.Move-in ready and waiting for you to call it home!

19. 2020-09-28
    historical
20. 2020-09-12
    price $160,999
21. 2020-07-08
    price $162,999
22. 2020-04-16
    price $163,999
23. 2020-04-15
    listed $163,999,000 Active
24. 1998-11-10
    soldstatus $18,000
25. 1998-08-17
    listed $18,900

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

Tax reassessment forecast OR · Resets to sale price

• Current annual tax: $904 · $75/mo
• Projected year-2 tax: $1,911 · $159/mo
• Expected delta: +$1,007/yr (+$84/mo · 111.4%)

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

Climate risk First Street

• 🌡 Heat 3/10 Moderate
• 🫁 Air quality 9/10 Extreme 11 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,563
• − Mortgage interest: −$11,035
• − Property taxes: −$904
• − Insurance: −$985
• − Repairs & maintenance: −$2,445
• − Management: −$2,445
• − Depreciation: −$5,731
• Taxable income: $7,018
• Est. tax owed @ 24.0%: −$1,684
• After-tax cash flow: $8,174/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: Mcminnville SD 40
• NCES district ID: 4108010
• Math proficiency: 50% ▼ -1.00%
• Reading proficiency: 58% ▼ -1.00%
• Median HH income: $47,382
• Composite: 47.69/100
• National rank: #4919
• State rank: #20 of 183 in OR

Livability — McMinnville

• Score: 76/100
• State rank: #79
• US rank: #3556

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: McMinnville, OR
• County: Yamhill County · 71,150 people
• City population: 38,664
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 38,664
• Household income: $75,896
• Rent vs Own: 34.2% rent · 65.8% own
• Severe rent burden: 1508.0

Population outlook (Yamhill County) Hauer SSP2

• Today (2025): 109,295 people
• By 2030: 112,060 · +2.5%
• By 2040: 115,975 · +6.1%
• By 2050: 118,155 · +8.1%
• By 2075: 120,968 · +10.7%
• By 2100: 116,163 · +6.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 19% Two or more races 14% Asian 2%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Italian 6% Portuguese 3% Slovak 3%
• Foreign-born: 9% · Canada, China, South Korea
• Languages at home: 85% English-only · Spanish 13% Chinese 1% German/W. Germanic 1%

Political lean MEDSL · Yamhill

• 2024 margin: Lean R (+6.1) · D 45.3% · R 51.4% · Other 3.3%
• 2008→2024 swing: -4.8pp toward R · 2008: -1.4pp · 2024: -6.1pp
• All cycles: 2024: R+6.1 2020: R+4.0 2016: R+8.8 2012: R+6.7 2008: R+1.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -201.59%
• Current HPI: 320.373
• Rent YoY: ▲ 0.79%
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• 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

+942.3% since first listed

11 events — show timeline

• 2026-06-09 Price Changed $197,000 WVMLS
• 2026-06-09 Price Changed $197,000 RMLS
• 2026-04-24 Listed $205,000 RMLS
• 2026-04-24 Listed $205,000 WVMLS
• 2020-09-28 Listing Removed — WVMLS
• 2020-09-12 Price Changed $160,999 WVMLS
• 2020-07-08 Price Changed $162,999 WVMLS
• 2020-04-16 Price Changed $163,999 WVMLS
• 2020-04-15 Listed $163,999,000 WVMLS
• 1998-11-10 Sold (MLS) $18,000 RMLS
• 1998-08-17 Listed $18,900 RMLS

Property tax history

+3.5%/yr

Latest (2025): $904 · +5.5% YoY. Source: county tax records.