18424 S Laura Ln · Mulino, OR 97042

$159,900

3 bd · 2.0 ba · 1,404 sqft · Other · 3 Days on market

Built 1985

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.1/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Country Living with Instant Equity – 3 Bed / 2 Bath in Mulino! Looking for a home where a little elbow grease can turn into instant equity? This could be the opportunity you've been waiting for. This spacious 1,404 sq. ft. manufactured home offers 3 bedrooms, 2 bathrooms, a large yard, and it’s located in a quiet family park in the country, yet only 15 minutes from shopping, restaurants, and everyday conveniences. Our daughter was in the middle of updating this home when a medical emergency required her to relocate out of state. The project is approximately 97% complete, but we're selling it as a light cosmetic fixer due to a few remaining finishing touches. Some of the features

Key facts

• Upgraded doors
• Large yard
• New roof

Tags

• LARGE YARD
• NEW ROOF
• UPGRADED DOORS
• QUIET COUNTRY SETTING

Property features AI

Finance

• Other: Lot size range listed as 0K to 2,999 sq ft
• Financial info: Property is resale
• HOA & community: Land lease in place with monthly lot rent ($700); lease expires December 31, 2026; Not a senior community

Exterior

• Parking: Driveway
• Utilities: Electric fuel; Public water; Public sewer
• Home design: Manufactured home in a park; Residential property; Single-story living; Territorial view
• Construction: Built in 1985; Wood siding exterior; Composition roof; Skirting foundation
• Exterior features: Yard; Level lot

Interior

• Kitchen: Kitchen on the main level
• Bedrooms: Primary bedroom on main level; Second bedroom on main level; Third bedroom on main level
• Flooring: Laminate flooring
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Forced-air heating; No central cooling listed
• Interior features: One-level accessibility; Laminate flooring; Laundry area; Double-pane windows
• Laundry & utility: Laundry area included; Electric hot water

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $160k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $160k).
• Cap rate 15.9% vs local median 1.0% in Mulino — 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 62/100 on livability (#239 in OR) — a middle-class / working-renter tenant base. Strengths: crime A+, employment B, housing B; Watch: amenities F, commute F, cost of living F.
• Molalla River SD 35 (town): math 21% / reading 43% proficiency, ranked #32 of 58 in OR (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Clarkes Elementary School (math 50% / reading 50%, grade D, #108 of 412 statewide, top 31%, 154 students, 36% FRL); Molalla River Middle School (math 15% / reading 41%, grade F, #95 of 128 statewide, top 74%, 532 students, 33% FRL); Molalla High School (math 27% / reading 52%, grade F, #78 of 143 statewide, top 58%, 763 students, 32% FRL) — zoned schools at 34% FRL track the district average.
• Market conditions: 33 active listings in the ZIP; 946 units permitted in Clackamas County in 2024 (188 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Clackamas County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $159,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.79% ✓
• Cap rate: 15.86%
• Cash-on-cash: 34.16%
• DSCR: 2.52
• GRM: 4.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 29.5%
• Equity multiple: 2.23×
• Total profit: $55,243
• Equity at exit: $23,842

10-year hold

• IRR: 36.9%
• Equity multiple: 4.41×
• Total profit: $152,517
• Equity at exit: $13,825

Cash invested: $44,772 (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 97042

• Home prices YoY: -29.4%
• Active inventory: 33
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $2,859 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$79 /mo · $945/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$600
• Net cashflow: $1,275

Break-even live

Break-even rent $1,245

Max offer price $159,900

Occupancy floor 50%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-18
   days on market $159,900 Active 3 DOM
2. 2026-06-17
   days on market $159,900 Active 2 DOM
3. 2026-06-16
   remarks 687-char remark
4. 2026-06-16
   listed $159,900 Active 1 DOM

ⓘ 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: $945 · $79/mo
• Projected year-2 tax: $1,551 · $129/mo
• Expected delta: +$606/yr (+$50/mo · 64.1%)

ⓘ 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 6/10 Major
• 🌡 Heat 2/10 Low 7 d/yr ≥90°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 12 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,308
• − Mortgage interest: −$8,957
• − Property taxes: −$945
• − Insurance: −$800
• − Repairs & maintenance: −$2,745
• − Management: −$2,745
• − Depreciation: −$4,652
• Taxable income: $13,465
• Est. tax owed @ 24.0%: −$3,232
• After-tax cash flow: $12,064/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: Molalla River SD 35
• NCES district ID: 4108310
• Math proficiency: 21% ▼ -13.00%
• Reading proficiency: 43% ▼ -7.00%
• Median HH income: $57,194
• Composite: 28.46/100
• National rank: #6748
• State rank: #32 of 58 in OR

Livability — Mulino

• Score: 62/100
• State rank: #239
• US rank: #16112

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 3,330
• Population (ZIP): 3,330

Population outlook (Clackamas County) Hauer SSP2

• Today (2025): 458,456 people
• By 2030: 485,185 · +5.8%
• By 2040: 532,932 · +16.2%
• By 2050: 574,445 · +25.3%
• By 2075: 665,497 · +45.2%
• By 2100: 697,488 · +52.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 5% Hispanic / Latino 3% Asian 3% Native American 2%
• Common ancestry: Slovak 7% Lithuanian 4% Portuguese 3%
• Foreign-born: 5% · China, Canada
• Languages at home: 94% English-only · Spanish 3% Tagalog/Filipino 2% Chinese 1%

Political lean MEDSL · Clackamas

• 2024 margin: Lean D (+9.7) · D 53.4% · R 43.6% · Other 3.0%
• 2008→2024 swing: -0.6pp no change · 2008: 10.4pp · 2024: 9.7pp
• All cycles: 2024: D+9.7 2020: D+11.1 2016: D+6.1 2012: D+3.5 2008: D+10.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -134.98%
• Current HPI: 324.7835
• 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

1 event — show timeline

• 2026-06-15 Listed $159,900 RMLS