10 Dion Ct · Shady Cove, OR 97539

$519,000

8 bd · 8.0 ba · 3,534 sqft · MultiFamily public records · 84 Days on market

Built 1995 0.26 ac lot $147/sqft · 11% below area Est $585k · 11% under $244/mo HOA · 18% of rent

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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 +22.9/30.0
• ARV discount +12.6/15.0
• DSCR +7.3/10.0
• 1% rule +5.7/10.0
• Livability +3.4/5.0
• Schools +3.3/10.0
• 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: 4 units. confirmed

Listing remarks MLS

Investment opportunity in Shady Cove. Unparalleled access to the Rogue River and gateway to Crater Lake make this desirable 1995 Built 4-plex a great opportunity. Fresh exterior paint in 2024 with two units up and two down. All units featuring 2 beds and 2 full baths and interior laundry. The upper units have a balcony and the lower units have a patio and fenced yards. These units are all electric with heat pumps and separate electric meters. All information is deemed reliable, but not guaranteed.

Key facts

• Exterior paint
• Balcony
• Fenced yards

Tags

• EXTERIOR PAINT
• BALCONY
• PATIO
• FENCED YARDS
• ELECTRIC WITH HEAT PUMPS
• SEPARATE ELECTRIC METERS

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/2.0-bath units multifamily listed at $519k.

Deal economics

• At list price, monthly cash flow is $912 ($11k/yr) — positive. Per door: $228/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $519k).
• Recommended offer: $488k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 2.3% in Shady Cove — 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 68/100 on livability (#156 in OR) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: employment C-, schools D-, amenities F.
• Eagle Point SD 9 (suburban): math 26% / reading 45% proficiency, ranked #134 of 183 in OR (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 53 active listings in the ZIP; 904 units permitted in Jackson County in 2024 (212 in 5+ unit buildings).

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.
• Jackson County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($488k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 30y 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 $337k; list at $519k implies a 54% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 8→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $487,860 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.07% ✓
• Cap rate: 8.40%
• Cash-on-cash: 7.53%
• DSCR: 1.33
• GRM: 7.8

CMA / ARV

• ARV (median comp): $585,309
• List price: $519,000
• Delta: -11.33%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -4.8%
• Equity multiple: 0.82×
• Total profit: $-26,010
• Equity at exit: $77,385

10-year hold

• IRR: 4.9%
• Equity multiple: 1.36×
• Total profit: $52,214
• Equity at exit: $44,874

Cash invested: $145,320 (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 97539

• Home prices YoY: -7.4%
• Active inventory: 53
• Price-to-rent: 31.1×

Monthly cashflow live

• Estimated rent: $5,567 medium
• Mortgage (P&I): −$2,722
• Tax from tax record: −$304 /mo · $3,651/yr
• Insurance: −$216
• HOA: −$244
• Vacancy / Maint / Mgmt: −$1,169
• Net cashflow: $912

Break-even live

Break-even rent $4,413

Max offer price $519,000

Occupancy floor 79%

Sensitivity live

Price	-10% $1,206	-5% $1,059	+0% $912	+5% $765	+10% $618
Rent	-10% $472	-5% $692	+0% $912	+5% $1,132	+10% $1,352
Rate	-1.0pp $1,173	-0.5pp $1,044	base $912	+0.5pp $777	+1.0pp $640

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	2	$5,568
Total (4 units)			$5,567

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: $129,750
• Closing costs: $15,570
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $244 · $2,928/yr
• Likely covers: electric

Listing history 33 events

1. 2026-06-21
   status $519,000 Pending 84 DOM
2. 2026-06-19
   days on market $519,000 Active 84 DOM
3. 2026-06-18
   days on market $519,000 Active 83 DOM
4. 2026-06-17
   days on market $519,000 Active 82 DOM
5. 2026-06-16
   days on market $519,000 Active 81 DOM
6. 2026-06-15
   days on market $519,000 Active 80 DOM
7. 2026-06-14
   days on market $519,000 Active 78 DOM
8. 2026-06-13
   days on market $519,000 Active 77 DOM
9. 2026-06-10
   days on market $519,000 Active 75 DOM
10. 2026-06-09
    days on market $519,000 Active 74 DOM
11. 2026-06-08
    days on market $519,000 Active 73 DOM
12. 2026-06-07
    days on market $519,000 Active 72 DOM
13. 2026-06-05
    pricedays on market $519,000 Active 69 DOM
14. 2026-06-03
    days on market $520,000 Active 68 DOM
15. 2026-06-02
    days on market $520,000 Active 67 DOM
16. 2026-06-01
    days on market $520,000 Active 66 DOM
17. 2026-05-31
    days on market $520,000 Active 65 DOM
18. 2026-05-30
    days on market $520,000 Active 64 DOM
19. 2026-04-04
    status Active 502-char remark

    Show marketing remark (502 chars)

    Investment opportunity in Shady Cove. Unparalleled access to the Rogue River and gateway to Crater Lake make this desirable 1995 Built 4-plex a great opportunity. Fresh exterior paint in 2024 with two units up and two down. All units featuring 2 beds and 2 full baths and interior laundry. The upper units have a balcony and the lower units have a patio and fenced yards. These units are all electric with heat pumps and separate electric meters. All information is deemed reliable, but not guaranteed.

20. 2026-03-01
    status Pending 502-char remark

    Show marketing remark (502 chars)

    Investment opportunity in Shady Cove. Unparalleled access to the Rogue River and gateway to Crater Lake make this desirable 1995 Built 4-plex a great opportunity. Fresh exterior paint in 2024 with two units up and two down. All units featuring 2 beds and 2 full baths and interior laundry. The upper units have a balcony and the lower units have a patio and fenced yards. These units are all electric with heat pumps and separate electric meters. All information is deemed reliable, but not guaranteed.

21. 2026-02-19
    listed $525,000 Active 502-char remark

    Show marketing remark (502 chars)

    Investment opportunity in Shady Cove. Unparalleled access to the Rogue River and gateway to Crater Lake make this desirable 1995 Built 4-plex a great opportunity. Fresh exterior paint in 2024 with two units up and two down. All units featuring 2 beds and 2 full baths and interior laundry. The upper units have a balcony and the lower units have a patio and fenced yards. These units are all electric with heat pumps and separate electric meters. All information is deemed reliable, but not guaranteed.

22. 2025-06-30
    historical
23. 2025-01-02
    price $599,000
24. 2024-10-12
    listed $649,000 Active
25. 2020-12-13
    historical
26. 2020-12-13
    historical
27. 2016-09-12
    soldstatus $337,000
28. 2016-09-12
    soldstatus $337,000
29. 2016-07-13
    listed $385,000
30. 2011-02-28
    soldstatus $161,000
31. 2010-11-22
    listed $169,000
32. 1997-03-04
    listed $245,000
33. 1996-05-31
    listed $245,000

ⓘ 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: $3,651 · $304/mo
• Projected year-2 tax: $5,034 · $420/mo
• Expected delta: +$1,383/yr (+$115/mo · 37.9%)

ⓘ 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 8/10 Severe
• 🌡 Heat 6/10 Major 8 d/yr ≥97°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 29 unhealthy d/yr today · 31 by 30 yrs out

Taxation est. · year 1

• Rental income: $66,804
• − Mortgage interest: −$29,072
• − Property taxes: −$3,651
• − Insurance: −$2,595
• − Repairs & maintenance: −$5,344
• − Management: −$5,344
• − HOA: −$2,928
• − Depreciation: −$15,098
• Taxable income: $2,771
• Est. tax owed @ 24.0%: −$665
• After-tax cash flow: $10,276/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: Eagle Point SD 9
• NCES district ID: 4104500
• Math proficiency: 26% ▬ 0.00%
• Reading proficiency: 45% ▬ 0.00%
• Median HH income: $47,834
• Composite: 33.13/100
• National rank: #10630
• State rank: #134 of 183 in OR

Livability — Shady Cove

• Score: 68/100
• State rank: #156
• US rank: #9143

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Shady Cove, OR
• Population (ZIP): 3,349

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 234,433 people
• By 2030: 243,834 · +4.0%
• By 2040: 259,717 · +10.8%
• By 2050: 273,269 · +16.6%
• By 2075: 300,624 · +28.2%
• By 2100: 305,256 · +30.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Two or more races 11% Hispanic / Latino 6% Native American 3% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 9% Lithuanian 8% Danish 4%
• Foreign-born: 2% · Canada
• Languages at home: 99% English-only · Other Asian/Pacific 1%

Political lean MEDSL · Jackson

• 2024 margin: Lean R (+6.4) · D 45.5% · R 51.9% · Other 2.6%
• 2008→2024 swing: -6.5pp toward R · 2008: 0.1pp · 2024: -6.4pp
• All cycles: 2024: R+6.4 2020: R+3.5 2016: R+9.2 2012: R+5.0 2008: D+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -22.55%
• Current HPI: 281.9845
• 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

+114.3% since first listed

15 events — show timeline

• 2026-04-04 Relisted — MLSCO
• 2026-03-01 Pending — MLSCO
• 2026-02-19 Listed $525,000 MLSCO
• 2025-06-30 Listing Removed — MLSCO
• 2025-01-02 Price Changed $599,000 MLSCO
• 2024-10-12 Listed $649,000 MLSCO
• 2020-12-13 Listing Removed — MLSCO
• 2020-12-13 Listing Removed — MLSCO
• 2016-09-12 Sold (Public Records) $337,000 Public Records
• 2016-09-12 Sold (MLS) $337,000 MLSCO
• 2016-07-13 Listed $385,000 MLSCO
• 2011-02-28 Sold (MLS) $161,000 MLSCO
• 2010-11-22 Listed $169,000 MLSCO
• 1997-03-04 Listed $245,000 MLSCO
• 1996-05-31 Listed $245,000 MLSCO

Property tax history

+2.9%/yr

Latest (2025): $3,651 · +2.3% YoY. Source: county tax records.