10 Dion Ct

Shady Cove, OR 97539

$519,000C+

8 bd · 8.0 ba · 3,534 sqft · Built 1995 · MultiFamily · Pending · 84 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,567/mo
• Mortgage (P&I): −$2,722
• Tax + insurance: −$521
• HOA: −$244
• Vac / Maint / Mgmt: −$1,169
• Net cashflow: $912/mo
• Annual: $10,941/yr
• Cap rate: 8.40%
• Cash-on-cash: 7.53%
• DSCR: 1.33
• 1% rule: 1.07%
• Cash to close: $145,320

Investor read

• This is a 4 × 2-bed/2.0-bath units multifamily listed at $519k.
• 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).
• It's been on market 84 days — a 6% lower offer ($488k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $488k (6.0% below list) — sets the bar for market timing.
• 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.
• 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).
• Jackson County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 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.
• 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.
• 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.

Questions for listing agent

• 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?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.