136 Main St

Idanha, OR 97350

$175,000C+

4 bd · 1.0 ba · 1,292 sqft · Built 1947 · SingleFamily · Active · 20 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,758/mo
• Mortgage (P&I): −$918
• Tax + insurance: −$143
• HOA: −$0
• Vac / Maint / Mgmt: −$369
• Net cashflow: $328/mo
• Annual: $3,940/yr
• Cap rate: 8.54%
• Cash-on-cash: 8.04%
• DSCR: 1.36
• 1% rule: 1.00%
• Cash to close: $49,000

Investor read

• This is a 4-bed/1.0-bath single-family listed at $175k.
• At list price, monthly cash flow is $328 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• It's been on market 20 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $172k (1.5% below list) — sets the bar for market timing.
• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (3.0% local appreciation)).
• Location reads 59/100 on livability (#295 in OR) — a working-class tenant base; expect higher turnover. Strengths: housing A+, employment A-; Watch: crime D+, health & safety D+, amenities F.
• Santiam Canyon SD 129J (rural): math 27% / reading 49% proficiency, ranked #121 of 183 in OR (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Santiam Elementary School (248 students, 70% FRL); Santiam Junior/Senior High School (math 15% / reading 54%, grade F, #90 of 143 statewide, top 65%, 312 students, 69% FRL) — zoned schools average 69% FRL vs 30% district-wide (40 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 14 active listings in the ZIP; 1,591 units permitted in Marion County in 2024 (716 in 5+ unit buildings).
• Marion County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $49k; list at $175k implies a 257% gain — meaningful room to come down on a strong offer.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $49k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.