59075 Upper Imnaha Rver Rd

Imnaha, OR 97842

$339,000F

1 bd · 1.0 ba · 1,016 sqft · Built 1970 · SingleFamily · Active · 254 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,089/mo
• Mortgage (P&I): −$1,778
• Tax + insurance: −$256
• HOA: −$0
• Vac / Maint / Mgmt: −$439
• Net cashflow: $-383/mo
• Annual: $-4,595/yr
• Cap rate: 4.94%
• Cash-on-cash: -4.84%
• DSCR: 0.78
• 1% rule: 0.62%
• Cash to close: $94,920

Investor read

• This is a 1-bed/1.0-bath single-family listed at $339k.
• At list price, monthly cash flow is $-383 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $271k (20.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $209k (38.4% below list).
• It's been on market 254 days — a 12% lower offer ($298k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $209k (38.4% below list) — sets the bar for 1% rule.
• In year one you build about $4k of equity ($2k loan paydown + $2k appreciation (0.5% local appreciation)).
• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• Joseph SD 6 (rural): math 45% / reading 70% proficiency, ranked #13 of 183 in OR (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Imnaha Elementary School (5 students, 0% FRL) — zoned schools average 0% FRL vs 35% district-wide (35 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 14 active listings in the ZIP; 1 units permitted in Wallowa County in 2024 (0 in 5+ unit buildings).
• Wallowa County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $80k; list at $339k implies a 324% gain — meaningful room to come down on a strong offer.
• By year 8, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• It's been on market 254 days. Have you received any prior offers? Is the seller open to a 38% concession, seller financing, or rate buy-down credit?
• Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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?
• 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.