1501 NE Laughlin Rd #13 · Prineville, OR 97754

$240,000

3 bd · 2.5 ba · 1,413 sqft · SingleFamily · 275 Days on market

Built 2026 Excellent condition $170/sqft · 36% below area Est $374k · 36% under $50/mo HOA · 3% of rent ↓ 13% since listing

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +9.3/30.0
• Condition / age +5.0/5.0
• Rent growth +3.7/5.0
• Livability +3.6/5.0
• Schools +3.4/10.0
• 1% rule +3.1/10.0
• DSCR +2.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This brand new, energy-efficient home offers comfort and sustainability with James Hardie siding, a composition roof with a lifetime warranty, and a fully electric solar panel setup. Enjoy triple-pane windows, upgraded insulation, a high efficiency heat pump, and an ERV fresh air recovery system. The home includes Energy Star appliances, 100% LED lighting, and advanced air sealing. The exterior features low-maintenance landscaping with irrigation, a fenced yard, and covered parking with storage. This home is part of Thistle & Nest's affordable housing program and is sold with a 99-year renewable ground lease for the land. Buyer households must earn less than 50% of the area median income for Crook County, qualify for a home loan, and meet Thistle & Nest's program requirements. The listed price reflects the average effective cost after down payment assistance and may vary by loan pre-approval. Check eligibility here: Thistleandnest.

Key facts

• James hardie siding
• Composition roof
• Triple pane windows

Tags

• JAMES HARDIE SIDING
• COMPOSITION ROOF
• TRIPLE PANE WINDOWS
• UPGRADED INSULATION
• HIGH EFFICIENCY HEAT PUMP
• ERV FRESH AIR RECOVERY SYSTEM

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $240k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-174 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $215k (10.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $194k (19.0% below list).
• Recommended offer: $194k (19.0% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 2.3% in Prineville — 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 71/100 on livability (#117 in OR) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, crime B+; Watch: health & safety C-, commute F, employment F.
• Crook County SD (town): math 34% / reading 45% proficiency, ranked #19 of 58 in OR (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Barnes Butte Elementary (math 24% / reading 34%, grade F, #263 of 412 statewide, top 68%, 476 students, 64% FRL); Crook County Middle School (math 28% / reading 47%, grade F, #48 of 128 statewide, top 38%, 617 students, 36% FRL); Crook County High School (830 students, 30% FRL).
• Market conditions: Rents rising fast (+4.7%/yr); 641 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 93d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 142 units permitted in Crook County in 2024 (0 in 5+ unit buildings).
• This rent runs 30% of the median local income ($77k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Crook County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 275 days — a 12% lower offer ($211k) is reasonable based on typical stale-listing flexibility.

Recommended offer $194,298 (19.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 275 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.81% ✗
• Cap rate: 5.42%
• Cash-on-cash: -3.10%
• DSCR: 0.86
• GRM: 10.3

CMA / ARV

• ARV (median comp): $373,579
• List price: $240,000
• Delta: -35.76%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1501 NE Laughlin Rd #15	0.00mi	3/2.5	1,413 (0%)	5mo	$340,000	$241	96
1501 NE Laughlin Rd #19	0.00mi	3/2.5	1,413 (0%)	5mo	$350,000	$248	96
1501 NE Laughlin Rd #14	0.00mi	2/2.5 (-1)	1,233 (-13%)	0mo	$300,000	$243	74
1501 NE Laughlin Rd #16	0.00mi	2/2.5 (-1)	1,233 (-13%)	2mo	$300,000	$243	72
2010 NE Laughlin Rd	0.16mi	3/1.0	1,289 (-9%)	3mo	$427,500	$332	70
1501 NE Laughlin Rd #20	0.00mi	2/2.5 (-1)	1,233 (-13%)	5mo	$300,000	$243	70
758 NE Whistle Way	0.50mi	3/2.0	1,486 (+5%)	5mo	$420,000	$283	61
156 NE Spruce Ln	0.60mi	3/1.5	1,312 (-7%)	0mo	$439,900	$335	56
1480 NE Hudspeth Rd	0.57mi	2/2.0 (-1)	1,478 (+5%)	7mo	$405,000	$274	53
811 NE Discovery Loop Lot 165	0.56mi	3/2.0	1,583 (+12%)	1mo	$459,997	$291	51
473 SE Sid Ct	0.55mi	3/2.0	1,584 (+12%)	5mo	$475,000	$300	48
310 SE Willowdale Dr	0.43mi	3/1.0	1,218 (-14%)	7mo	$220,000	$181	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.67% rent growth · sell at horizon

5-year hold

• IRR: -19.5%
• Equity multiple: 0.31×
• Total profit: $-46,570
• Equity at exit: $35,785

10-year hold

• IRR: -9.0%
• Equity multiple: 0.40×
• Total profit: $-40,456
• Equity at exit: $20,751

Cash invested: $67,200 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 30 active · 12 under contract
• Months of supply: 8.2 mo (12%/mo absorbed)
• Median asking: $455,000 ($284/sqft)
• Median days on market: 105 d
• This list price: 3% of active listings are priced below it
• ARV vs active asking: -7.0% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 97754

• Home prices YoY: -1.8%
• Rents YoY: 4.7%
• Active inventory: 641
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,943 medium
• Mortgage (P&I): −$1,259
• Tax est. 1.5%: −$300 /mo · $3,600/yr
• Insurance: −$100
• HOA: −$50
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $-174

Break-even live

Break-even rent $2,163

Max offer price $214,875

Occupancy floor —

Sensitivity live

Price	-10% $-8	-5% $-91	+0% $-174	+5% $-257	+10% $-339
Rent	-10% $-327	-5% $-250	+0% $-174	+5% $-97	+10% $-20
Rate	-1.0pp $-53	-0.5pp $-113	base $-174	+0.5pp $-236	+1.0pp $-299

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: $60,000
• Closing costs: $7,200
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
250 NE Saint Charles Way Prineville, OR	1.0–3.0	1.0–2.0	938	$2,260	$2.41	62d	185	0.40mi
2141 S East Melrose Dr Unit B Prineville, OR	2.0	2.0	903	$1,795	$1.99	92d	1	0.66mi
994 SE Willowdale Dr Prineville, OR	2.0	2.0	1152	$1,550	$1.35	70d	1	0.86mi
288 SE 5th St Prineville, OR	3.0	2.5	1430	$1,800	$1.26	92d	2	1.40mi

HOA detail $50/mo · $600/yr

• Likely covers: electriclandscaping

Listing history 50 events

1. 2026-08-08
   days on market $240,000 Active 275 DOM
2. 2026-08-07
   days on market $240,000 Active 274 DOM
3. 2026-08-06
   days on market $240,000 Active 273 DOM
4. 2026-08-05
   days on market $240,000 Active 272 DOM
5. 2026-08-04
   days on market $240,000 Active 271 DOM
6. 2026-08-03
   days on market $240,000 Active 270 DOM
7. 2026-07-31
   days on market $240,000 Active 267 DOM
8. 2026-07-30
   days on market $240,000 Active 266 DOM
9. 2026-07-29
   days on market $240,000 Active 265 DOM
10. 2026-07-27
    days on market $240,000 Active 263 DOM
11. 2026-07-25
    days on market $240,000 Active 261 DOM
12. 2026-07-23
    days on market $240,000 Active 259 DOM
13. 2026-07-22
    days on market $240,000 Active 258 DOM
14. 2026-07-21
    days on market $240,000 Active 257 DOM
15. 2026-07-18
    days on market $240,000 Active 254 DOM
16. 2026-07-16
    days on market $240,000 Active 252 DOM
17. 2026-07-16
    days on market $240,000 Active 251 DOM
18. 2026-07-14
    days on market $240,000 Active 250 DOM
19. 2026-07-13
    days on market $240,000 Active 249 DOM
20. 2026-07-12
    days on market $240,000 Active 248 DOM
21. 2026-07-11
    days on market $240,000 Active 247 DOM
22. 2026-07-10
    days on market $240,000 Active 246 DOM
23. 2026-07-09
    days on market $240,000 Active 245 DOM
24. 2026-07-08
    days on market $240,000 Active 244 DOM
25. 2026-07-07
    days on market $240,000 Active 243 DOM
26. 2026-07-06
    days on market $240,000 Active 242 DOM
27. 2026-07-05
    days on market $240,000 Active 241 DOM
28. 2026-07-04
    days on market $240,000 Active 240 DOM
29. 2026-07-03
    days on market $240,000 Active 239 DOM
30. 2026-07-02
    days on market $240,000 Active 238 DOM
31. 2026-07-01
    days on market $240,000 Active 237 DOM
32. 2026-06-30
    days on market $240,000 Active 236 DOM
33. 2026-06-29
    days on market $240,000 Active 235 DOM
34. 2026-06-28
    days on market $240,000 Active 234 DOM
35. 2026-06-28
    days on market $240,000 Active 233 DOM
36. 2026-06-27
    days on market $240,000 Active 232 DOM
37. 2026-06-25
    days on market $240,000 Active 230 DOM
38. 2026-06-23
    days on market $240,000 Active 228 DOM
39. 2026-06-21
    days on market $240,000 Active 227 DOM
40. 2026-06-18
    days on market $240,000 Active 224 DOM
41. 2026-06-17
    days on market $240,000 Active 223 DOM
42. 2026-06-16
    days on market $240,000 Active 222 DOM
43. 2026-06-15
    days on market $240,000 Active 221 DOM
44. 2026-06-14
    days on market $240,000 Active 219 DOM
45. 2026-06-13
    days on market $240,000 Active 218 DOM
46. 2026-06-10
    days on market $240,000 Active 216 DOM
47. 2026-06-09
    days on market $240,000 Active 215 DOM
48. 2026-06-08
    days on market $240,000 Active 214 DOM
49. 2026-06-07
    days on market $240,000 Active 213 DOM
50. 2026-06-05
    days on market $240,000 Active 210 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $23,316
• − Mortgage interest: −$13,444
• − Property taxes: −$3,600
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,865
• − Management: −$1,865
• − HOA: −$600
• − Depreciation: −$6,982
• Taxable loss: −$6,240
• Est. tax savings @ 24.0%: +$1,498
• After-tax cash flow: $-586/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.

Condition & rehab AI · 12 photos

Excellent 100/100 None rehab

This brand new, energy-efficient home offers comfort and sustainability with modern finishes and advanced systems. It is move-in ready and ideal for both buyers and renters seeking a low-maintenance, eco-friendly living space.

Value-add opportunities

• Both Landscaping and irrigation system — Enhances curb appeal and low maintenance. ↑
• Both Add smart home features — Improves convenience and marketability. ↑
• Both Install smart thermostat — Saves energy and attracts eco-conscious buyers/tenants. ↑

F Composite school gradezoned avg 34/100

Zoned Schools

Elementary Barnes Butte Elementary F OR #263/412 Nat'l #26,716/41,679 Middle Crook County Middle School F OR #48/128 Nat'l #6,708/14,009 High Crook County High School

Schools (NCES district)

• District: Crook County SD
• NCES district ID: 4103720
• Math proficiency: 34% ▼ -5.00%
• Reading proficiency: 45% ▼ -10.00%
• Median HH income: $41,394
• Composite: 33.22/100
• National rank: #5527
• State rank: #19 of 58 in OR

B Composite livability gradescore 71/100

Livability — Prineville

• Score: 71/100
• State rank: #117
• US rank: #6885

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Prineville, OR
• County: Crook County · 23,232 people
• City population: 22,960
• Metro: Prineville, OR
• Population (ZIP): 22,960
• Household income: $77,199
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 12% of renters

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Population outlook (Crook County) Hauer SSP2

• Today (2025): 23,232 people
• By 2030: 23,833 · +2.6%
• By 2040: 24,531 · +5.6%
• By 2050: 24,639 · +6.1%
• By 2075: 24,026 · +3.4%
• By 2100: 21,419 · -7.8%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 8% Two or more races 7% Native American 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 5% Portuguese 2% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 5%

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Political lean MEDSL · Crook

• 2024 margin: Solid R (+50.8) · D 23.5% · R 74.3% · Other 2.2%
• 2008→2024 swing: -24.3pp toward R · 2008: -26.4pp · 2024: -50.8pp
• All cycles: 2024: R+50.8 2020: R+48.5 2016: R+49.8 2012: R+36.5 2008: R+26.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -10.01%
• Current HPI: 533.6457
• Rent YoY: ▲ 4.67%
• Metro: Prineville, OR
• State GDP YoY: ▲ 2.05%
• F500 in state: 2

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Industry mix (Fortune 500 HQ in OR)

Industry	F500 HQs	Revenue
▸Consumer Goods	1	$51B

Price history

-12.7% since first listed

2 events — show timeline

• 2026-04-03 Price Changed $240,000 MLSCO
• 2025-11-06 Listed $275,000 MLSCO