1501 SW Baker St #70 · McMinnville, OR 97128

$155,000

2 bd · 2.5 ba · 1,148 sqft · Manufactured public records · 27 Days on market

Built 1991 $135/sqft · 214% above area

---

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 +28.6/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Schools +4.8/10.0
• Livability +3.8/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well cared for 1991, 2 bedroom/ 2 bath home in 55+ Park.1148 square foot home. Newer roof, Ideal location in Park for privacy and convenience to shopping . Skylite, All appliances including washer/Dryer. Air condition heating/cooling is provided by an Electric Resistance Unit. Provides better service.Seller will consider all offers.

Key facts

• Built in microwave
• Induction range
• Updated kitchen

Tags

• QUIET LOCATION
• GREAT VIEW
• UPDATED KITCHEN
• STAINLESS STEEL APPLIANCES
• INDUCTION RANGE
• BUILT IN MICROWAVE

Property features AI

Finance

• Other: Located on leased land within a mobile home park; Directions: follow roadway in park to the left all the way down around the back; unit #70 is in the last cul-de-sac
• HOA & community: Park name: Southwest Mobile Terrace; Garbage service included with space rent; water and sewer billed by the park; Pet restrictions: ask manager; Land lease (lot rent $807 monthly); lease expires December 31, 2026; Lot is leased and located on a cul-de-sac

Exterior

• Parking: Attached carport; Driveway parking (1 space total)
• Utilities: Public water; Public sewer; Electric service (fuel for hot water and systems); Cable and fiber-optic internet available
• Home design: Manufactured home in park (not attached); Updated/remodeled condition; Seasonal view
• Construction: Built in 1991; Cement siding; Composition roof; Skirting foundation
• Exterior features: Covered deck; Dog run; Tool shed; Private road access; Yard

Interior

• Kitchen: Dishwasher; Induction cooktop; Free-standing range; Free-standing refrigerator; Microwave; Stainless steel appliances; Eating area / kitchen-dining combo
• Bedrooms: Primary bedroom on main level with bathroom, walk-in closet, and wall-to-wall carpet; Second bedroom on main level with wall-to-wall carpet
• Flooring: Vinyl flooring in living areas and kitchen; Wall-to-wall carpet in bedrooms
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Forced air heating; Heat pump for heating and cooling
• Interior features: Ceiling fans; High-speed internet; Laundry area; Skylights; Vaulted ceilings; Vinyl and wall-to-wall carpet flooring; Double-pane windows; Crawl space basement; Main-floor bedroom with bath (accessible, one-level layout)
• Laundry & utility: Laundry on main level; Electric hot water

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath manufactured listed at $155k.

Deal economics

• At list price, monthly cash flow is $511 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $153k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 3.2% in McMinnville — 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 76/100 on livability (#79 in OR, #3,556 nationally) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing A, crime B; Watch: commute D+.
• Mcminnville SD 40 (town): math 50% / reading 58% proficiency, ranked #20 of 183 in OR (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents flat; 396 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 282 units permitted in Yamhill County in 2024 (0 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.
• Yamhill County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $25k; list at $155k implies a 520% gain — meaningful room to come down on a strong offer.

Recommended offer $152,675 (1.5% below list)

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: 1.19% ✓
• Cap rate: 10.25%
• Cash-on-cash: 14.12%
• DSCR: 1.63
• GRM: 7.0

CMA / ARV

• ARV (median comp): $49,312
• List price: $155,000
• Delta: 214.32%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1501 SW Baker St #25	0.10mi	3/2.0 (+1)	1,276 (+11%)	14mo	$160,000	$125	58
1145 SW Cypress St #80	0.57mi	3/2.0 (+1)	1,232 (+7%)	13mo	$69,000	$56	44
1145 SW Cypress St #76	0.57mi	3/2.0 (+1)	1,069 (-7%)	22mo	$140,000	$131	37

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 · 0.79% rent growth · sell at horizon

5-year hold

• IRR: 2.1%
• Equity multiple: 1.08×
• Total profit: $3,348
• Equity at exit: $23,111

10-year hold

• IRR: 9.5%
• Equity multiple: 1.67×
• Total profit: $28,874
• Equity at exit: $13,402

Cash invested: $43,400 (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 97128

• Rents YoY: 0.8%
• Active inventory: 396
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,838 high
• Mortgage (P&I): −$813
• Tax from tax record: −$64 /mo · $772/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$386
• Net cashflow: $511

Break-even live

Break-even rent $1,192

Max offer price $155,000

Occupancy floor 67%

Sensitivity live

Price	-10% $598	-5% $554	+0% $511	+5% $467	+10% $423
Rent	-10% $365	-5% $438	+0% $511	+5% $583	+10% $656
Rate	-1.0pp $589	-0.5pp $550	base $511	+0.5pp $470	+1.0pp $430

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
815 SW Cozine Ln McMinnville, OR	2.0	1.0	740	$1,195	$1.61	2d	1	0.19mi
1149 SW Brockwood Ave McMinnville, OR	3.0	2.0	1432	$3,600	$2.51	25d	1	0.28mi
925 SW Fleishauer Ln Unit 1550283P McMinnville, OR	1.0	1.0	839	$2,070	$2.47	17d	1	0.44mi
727 SW Drumwood Ave Unit 13 McMinnville, OR	2.0	1.0	950	$1,350	$1.42	8d	1	0.53mi
727 SW Drumwood Ave Unit 2 McMinnville, OR	2.0	1.0	900	$1,525	$1.69	44d	1	0.53mi
550 SW Edmunston St Apt 14 McMinnville, OR	2.0	1.0	800	$1,449	$1.81	3d	1	0.55mi
1647 SW Fellows St McMinnville, OR	2.0	1.0	820	$1,495	$1.82	2d	5	0.58mi
624 SW Drumwood Ave McMinnville, OR	1.0–3.0	1.0–1.5	878	$1,898	$2.16	2d	4	0.58mi
410 SE Debbie St Unit WES410 McMinnville, OR	2.0	1.0	998	$1,895	$1.90	44d	1	0.70mi
1794 SW Fellows St Unit 1764-58 McMinnville, OR	2.0	1.0	848	$1,350	$1.59	25d	1	0.72mi
1794 SW Fellows St Unit 1802-40 McMinnville, OR	2.0	1.0	848	$1,350	$1.59	44d	1	0.72mi
404 SW Elmwood Ave Unit 404 McMinnville, OR	2.0	1.0	800	$1,695	$2.12	44d	1	0.74mi
981 SE Ford St McMinnville, OR	2.0	1.0	840	$1,295	$1.54	2d	1	0.83mi
136 SW Sharon Jane Pl McMinnville, OR	3.0	2.0	1477	$2,150	$1.46	23d	1	0.83mi
855 SE Ford St McMinnville, OR	1.0–2.0	1.0	725	$1,475	$2.03	2d	7	0.87mi
1126 SE Rummel St Unit 1128 McMinnville, OR	2.0	1.0	1070	$1,795	$1.68	17d	1	0.88mi
982 SW Hawthorne St McMinnville, OR	3.0	2.0	1458	$2,375	$1.63	23d	1	0.90mi
1910 SW Old Sheridan Rd McMinnville, OR	2.0	2.0	918	$1,585	$1.73	2d	1	0.90mi
725 SE Ford St McMinnville, OR	2.0	1.0	775	$1,425	$1.84	2d	1	0.92mi
711 SE Ford St McMinnville, OR	2.0	1.0	864	$1,690	$1.96	2d	1	0.94mi
1355 NW 2nd St McMinnville, OR	2.0	1.5	840	$1,622	$1.93	2d	3	0.99mi
1795 NW 2nd St McMinnville, OR	2.0–3.0	1.0	1250	$1,425	$1.14	2d	2	1.02mi
230 SE Evans St Unit 22 McMinnville, OR	2.0	1.0	900	$1,650	$1.83	44d	1	1.02mi
230 SE Evans St McMinnville, OR	2.0	1.0	900	$1,595	$1.77	2d	1	1.02mi
230 SE Evans St Unit 06 McMinnville, OR	2.0	1.0	900	$1,595	$1.77	44d	1	1.02mi
603 NW Beary St Unit 605 McMinnville, OR	2.0	1.0	864	$1,695	$1.96	21d	1	1.05mi
467 NW Meadows Dr McMinnville, OR	3.0	2.0	1278	$2,100	$1.64	44d	1	1.16mi
605 NW Adams St McMinnville, OR	2.0–3.0	1.0	855	$1,449	$1.69	3d	2	1.17mi
1025 NE 1st St Unit 8 McMinnville, OR	2.0	1.0	940	$1,695	$1.80	44d	1	1.31mi
700 NW 12th St McMinnville, OR	2.0	1.0	900	$1,495	$1.66	18d	1	1.33mi
1031 NE Cowls St McMinnville, OR	2.0	1.5	900	$1,550	$1.72	25d	1	1.40mi

Listing history 17 events

1. 2026-05-18
   price $155,000 935-char remark
2. 2026-04-29
   listed $165,000 Active 935-char remark
3. 2025-09-23
   historical
4. 2025-08-13
   price $135,000
5. 2025-07-17
   status Active
6. 2025-07-15
   status Pending
7. 2025-06-07
   price $137,900
8. 2025-06-02
   price $149,900
9. 2025-05-03
   price $154,900
10. 2025-04-25
    listed $159,900 Active
11. 2015-04-20
    soldstatus $25,000 Sold

    Show marketing remark (334 chars)

    Well cared for 1991, 2 bedroom/ 2 bath home in 55+ Park.1148 square foot home. Newer roof, Ideal location in Park for privacy and convenience to shopping . Skylite, All appliances including washer/Dryer. Air condition heating/cooling is provided by an Electric Resistance Unit. Provides better service.Seller will consider all offers.

12. 2015-04-06
    status Pending

    Show marketing remark (334 chars)

    Well cared for 1991, 2 bedroom/ 2 bath home in 55+ Park.1148 square foot home. Newer roof, Ideal location in Park for privacy and convenience to shopping . Skylite, All appliances including washer/Dryer. Air condition heating/cooling is provided by an Electric Resistance Unit. Provides better service.Seller will consider all offers.

13. 2014-12-05
    price $31,000

    Show marketing remark (334 chars)

    Well cared for 1991, 2 bedroom/ 2 bath home in 55+ Park.1148 square foot home. Newer roof, Ideal location in Park for privacy and convenience to shopping . Skylite, All appliances including washer/Dryer. Air condition heating/cooling is provided by an Electric Resistance Unit. Provides better service.Seller will consider all offers.

14. 2014-12-03
    status Active

    Show marketing remark (334 chars)

    Well cared for 1991, 2 bedroom/ 2 bath home in 55+ Park.1148 square foot home. Newer roof, Ideal location in Park for privacy and convenience to shopping . Skylite, All appliances including washer/Dryer. Air condition heating/cooling is provided by an Electric Resistance Unit. Provides better service.Seller will consider all offers.

15. 2014-11-26
    status Pending

    Show marketing remark (334 chars)

    Well cared for 1991, 2 bedroom/ 2 bath home in 55+ Park.1148 square foot home. Newer roof, Ideal location in Park for privacy and convenience to shopping . Skylite, All appliances including washer/Dryer. Air condition heating/cooling is provided by an Electric Resistance Unit. Provides better service.Seller will consider all offers.

16. 2014-10-02
    price $35,000

    Show marketing remark (334 chars)

    Well cared for 1991, 2 bedroom/ 2 bath home in 55+ Park.1148 square foot home. Newer roof, Ideal location in Park for privacy and convenience to shopping . Skylite, All appliances including washer/Dryer. Air condition heating/cooling is provided by an Electric Resistance Unit. Provides better service.Seller will consider all offers.

17. 2014-07-07
    listed $38,000 Active

    Show marketing remark (334 chars)

    Well cared for 1991, 2 bedroom/ 2 bath home in 55+ Park.1148 square foot home. Newer roof, Ideal location in Park for privacy and convenience to shopping . Skylite, All appliances including washer/Dryer. Air condition heating/cooling is provided by an Electric Resistance Unit. Provides better service.Seller will consider all offers.

ⓘ 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: $772 · $64/mo
• Projected year-2 tax: $1,504 · $125/mo
• Expected delta: +$731/yr (+$61/mo · 94.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌡 Heat 3/10 Moderate
• 🫁 Air quality 8/10 Severe 10 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,061
• − Mortgage interest: −$8,682
• − Property taxes: −$772
• − Insurance: −$775
• − Repairs & maintenance: −$1,765
• − Management: −$1,765
• − Depreciation: −$4,509
• Taxable income: $3,792
• Est. tax owed @ 24.0%: −$910
• After-tax cash flow: $5,216/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: Mcminnville SD 40
• NCES district ID: 4108010
• Math proficiency: 50% ▼ -1.00%
• Reading proficiency: 58% ▼ -1.00%
• Median HH income: $47,382
• Composite: 47.69/100
• National rank: #4919
• State rank: #20 of 183 in OR

Livability — McMinnville

• Score: 76/100
• State rank: #79
• US rank: #3556

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: McMinnville, OR
• County: Yamhill County · 71,150 people
• City population: 38,664
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 38,664
• Household income: $75,896
• Rent vs Own: 34.2% rent · 65.8% own
• Severe rent burden: 1508.0

Population outlook (Yamhill County) Hauer SSP2

• Today (2025): 109,295 people
• By 2030: 112,060 · +2.5%
• By 2040: 115,975 · +6.1%
• By 2050: 118,155 · +8.1%
• By 2075: 120,968 · +10.7%
• By 2100: 116,163 · +6.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 19% Two or more races 14% Asian 2%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Italian 6% Portuguese 3% Slovak 3%
• Foreign-born: 9% · Canada, China, South Korea
• Languages at home: 85% English-only · Spanish 13% Chinese 1% German/W. Germanic 1%

Political lean MEDSL · Yamhill

• 2024 margin: Lean R (+6.1) · D 45.3% · R 51.4% · Other 3.3%
• 2008→2024 swing: -4.8pp toward R · 2008: -1.4pp · 2024: -6.1pp
• All cycles: 2024: R+6.1 2020: R+4.0 2016: R+8.8 2012: R+6.7 2008: R+1.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -201.59%
• Current HPI: 320.373
• Rent YoY: ▲ 0.79%
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• 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

+255.3% since first listed

15 events — show timeline

• 2025-09-23 Listing Removed — WVMLS
• 2025-08-13 Price Changed $135,000 WVMLS
• 2025-07-17 Relisted — WVMLS
• 2025-07-15 Pending — WVMLS
• 2025-06-07 Price Changed $137,900 WVMLS
• 2025-06-02 Price Changed $149,900 WVMLS
• 2025-05-03 Price Changed $154,900 WVMLS
• 2025-04-25 Listed $159,900 WVMLS
• 2015-04-20 Sold (MLS) $25,000 RMLS
• 2015-04-06 Pending — RMLS
• 2014-12-05 Price Changed $31,000 RMLS
• 2014-12-03 Relisted — RMLS
• 2014-11-26 Pending — RMLS
• 2014-10-02 Price Changed $35,000 RMLS
• 2014-07-07 Listed $38,000 RMLS

Property tax history

+2.7%/yr

Latest (2025): $772 · +5.5% YoY. Source: county tax records.