18424 S Laura Ln

Mulino, OR 97042

$159,900B-

3 bd · 2.0 ba · 1,404 sqft · Built 1985 · Other · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,859/mo
• Mortgage (P&I): −$839
• Tax + insurance: −$145
• HOA: −$0
• Vac / Maint / Mgmt: −$600
• Net cashflow: $1,275/mo
• Annual: $15,296/yr
• Cap rate: 15.86%
• Cash-on-cash: 34.16%
• DSCR: 2.52
• 1% rule: 1.79%
• Cash to close: $44,772

Investor read

• This is a 3-bed/2.0-bath other listed at $160k.
• 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).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.
• 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).
• 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.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.
• 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.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.