28800 Salmon River Hwy · Grand Ronde, OR 97347

$115,000

2 bd · 1.0 ba · 773 sqft · Manufactured · 24 Days on market

Built 2005 Good condition $149/sqft · 64% above area $615/mo HOA · 32% of rent ↓ 8% since listing

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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 +19.5/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• Appreciation +5.9/10.0
• Condition / age +3.8/5.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Schools +2.2/10.0

Listing remarks

Spacious 2-Bedroom Home with a Loft perfect for storage or a play place. Modern Updates – Prime Location! This charming 2-bedroom home with a loft, located on the largest lot in the park. Recently refreshed with new exterior paint, a new roof, NEW hot water heater and new carpet, this home offers both style and comfort. Enjoy the convenience of covered parking, a spacious living room, a washer and dryer, and plenty of storage space. Perfect for outdoor enthusiasts, the home is situated next to a dog park and a nearby swimming creek. Plus, you’re just minutes from the casino, making this location ideal for entertainment and leisure. With everything you need and more, this home is

Key facts

• Covered parking
• New carpet
• New exterior paint

Tags

• LARGEST LOT
• NEW EXTERIOR PAINT
• NEW ROOF
• NEW HOT WATER HEATER
• NEW CARPET
• COVERED PARKING

Property features AI

Finance

• Other: Park model tax/legal description notes a 2005 Eagle with loft; Listing status: Active
• HOA & community: Located in Wandering Spirit RV Park; Monthly lot/association fee of $615; Park amenities include laundry, on-site management, recreation facilities, and a weight room; Land lease in effect (expires December 1, 2050)

Exterior

• Parking: Carport; Off-street parking; RV/boat storage
• Utilities: Public/community water; Public/community sewer; Propane fuel
• Home design: Manufactured home in park (park model, 2005); Single-story living with an upper loft; Unattached; Skirting foundation
• Construction: Built in 2005; Composition roof
• Exterior features: Garden; Gazebo; Front porch; Tool shed; Yard; Creek/stream view (seasonal) with trees/woods; Level lot; Paved road access; T-111 siding

Interior

• Kitchen: Free-standing range; Free-standing refrigerator; Built-in microwave; Pantry; Disposal; Stainless steel appliances
• Bedrooms: Primary bedroom on main level; Second bedroom on main level (approx. 13 x 7); Upper loft (approx. 10 x 10)
• Flooring: Wood floors in living areas; Wall-to-wall carpet in bedrooms and loft
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Forced-air heating; No central cooling
• Interior features: Ceiling fans; Laundry area; Washer and dryer included; Wall-to-wall carpet; Wood floors; Double-pane windows; Crawl space basement; One-level accessibility
• Laundry & utility: Main-level laundry with washer and dryer; Propane for fuel

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $115k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $131 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $113k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#246 in OR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A; Watch: health & safety D+, amenities F, commute F.
• Willamina SD 30J (rural): math 13% / reading 31% proficiency, ranked #177 of 183 in OR (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Willamina Elementary School (math 8% / reading 12%, grade F, #411 of 412 statewide, top 100%, 379 students, 80% FRL); Willamina Middle School (204 students, 0% FRL); Willamina High School (308 students, 130% FRL).
• Zoned-school proficiency averages 10% at this address vs 22% district-wide (-12 pts) — the specific schools serving this property underperform the Willamina SD 30J average; the district grade overstates school quality for this exact location.
• Market conditions: 12 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 177 units permitted in Polk County in 2024 (14 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($795 loan paydown + $2k appreciation (1.9% local appreciation)).
• Polk County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (1.9% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 32% of rent.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $113,275 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.70% ✓
• Cap rate: 7.66%
• Cash-on-cash: 4.87%
• DSCR: 1.22
• GRM: 4.9

CMA / ARV

• ARV (median comp): $69,983
• List price: $115,000
• Delta: 78.61%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
28800 Salmon River Hwy #88	0.00mi	2/1.0	660 (-15%)	13mo	$55,500	$84	64

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.87% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.2%
• Equity multiple: 1.49×
• Total profit: $15,877
• Equity at exit: $44,569

10-year hold

• IRR: 12.6%
• Equity multiple: 2.68×
• Total profit: $54,176
• Equity at exit: $63,578

Cash invested: $32,200 (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 97347

• Home prices YoY: 0.6%
• Active inventory: 12
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,950 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$615
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $131

Break-even live

Break-even rent $1,784

Max offer price $115,000

Occupancy floor 88%

Sensitivity live

Price	-10% $210	-5% $170	+0% $131	+5% $91	+10% $51
Rent	-10% $-23	-5% $54	+0% $131	+5% $208	+10% $285
Rate	-1.0pp $189	-0.5pp $160	base $131	+0.5pp $101	+1.0pp $71

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8625 Grand Ronde Rd Unit GR12 Grand Ronde, OR	3.0	1.0	964	$1,950	$2.02	24d	1	0.31mi

HOA detail

• Monthly dues: $615 · $7,380/yr
• Likely covers: water

Listing history 16 events

1. 2026-06-21
   days on market $115,000 Active 24 DOM
2. 2026-06-18
   days on market $115,000 Active 22 DOM
3. 2026-06-17
   days on market $115,000 Active 21 DOM
4. 2026-06-16
   days on market $115,000 Active 20 DOM
5. 2026-06-15
   days on market $115,000 Active 19 DOM
6. 2026-06-13
   days on market $115,000 Active 17 DOM
7. 2026-06-12
   days on market $115,000 Active 16 DOM
8. 2026-06-09
   days on market $115,000 Active 13 DOM
9. 2026-06-08
   days on market $115,000 Active 12 DOM
10. 2026-06-08
    days on market $115,000 Active 11 DOM
11. 2026-06-07
    days on market $115,000 Active 10 DOM
12. 2026-06-04
    days on market $115,000 Active 7 DOM
13. 2026-06-02
    days on market $115,000 Active 6 DOM
14. 2026-06-01
    days on market $115,000 Active 5 DOM
15. 2026-05-31
    days on market $115,000 Active 4 DOM
16. 2024-10-08
    listed $125,000 Active 863-char remark

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 2/10 Low 7 d/yr ≥88°F today · 14 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: $23,400
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$1,872
• − Management: −$1,872
• − HOA: −$7,380
• − Depreciation: −$3,345
• Taxable income: $189
• Est. tax owed @ 24.0%: −$45
• After-tax cash flow: $1,524/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This mobile home is in good condition with recent updates, making it move-in ready with a good curb appeal.

Value-add opportunities

• Both Paint exterior — Fresh paint enhances curb appeal and value.
• Both Clean gutters — Clean gutters prevent water damage and improve home's appearance.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Fresh paint enhances curb appeal and value. ↑
• Both Clean gutters — Clean gutters prevent water damage and improve home's appearance. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Willamina SD 30J
• NCES district ID: 4113350
• Math proficiency: 13% ▼ -3.00%
• Reading proficiency: 31% ▲ 3.00%
• Median HH income: $42,426
• Composite: 21.97/100
• National rank: #13548
• State rank: #177 of 183 in OR

Livability — Grand Ronde

• Score: 62/100
• State rank: #246
• US rank: #17080

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grand Ronde, OR
• Population (ZIP): 1,483

Population outlook (Polk County) Hauer SSP2

• Today (2025): 88,594 people
• By 2030: 93,209 · +5.2%
• By 2040: 101,942 · +15.1%
• By 2050: 110,395 · +24.6%
• By 2075: 131,091 · +48.0%
• By 2100: 141,746 · +60.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 57% Native American 30% Two or more races 10% Hispanic / Latino 6% Pacific Islander 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 3% Iranian 2% Romanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Polk

• 2024 margin: Toss-up / Even · D 46.6% · R 50.4% · Other 3.0%
• 2008→2024 swing: -3.3pp toward R · 2008: -0.5pp · 2024: -3.8pp
• All cycles: 2024: R+3.8 2020: R+1.7 2016: R+7.0 2012: R+4.8 2008: R+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.87%
• Current HPI: 326.2727
• Rent YoY: —
• Metro: —
• 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

-8.0% since first listed

2 events — show timeline

• 2026-05-28 Price Changed $115,000 RMLS
• 2024-10-08 Listed $125,000 RMLS