1110 N 8th St

Lakeside, OR 97449

$280,000D+

3 bd · 2.0 ba · 1,404 sqft · Built 2005 · Manufactured · Pending · 33 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,980/mo
• Mortgage (P&I): −$1,468
• Tax + insurance: −$255
• HOA: −$0
• Vac / Maint / Mgmt: −$416
• Net cashflow: $-159/mo
• Annual: $-1,904/yr
• Cap rate: 5.61%
• Cash-on-cash: -2.43%
• DSCR: 0.89
• 1% rule: 0.71%
• Cash to close: $78,400

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $280k.
• At list price, monthly cash flow is $-159 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $252k (10.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $198k (29.3% below list).
• It's been on market 33 days — a 3% lower offer ($272k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $198k (29.3% below list) — sets the bar for 1% rule.
• In year one you build about $5k of equity ($2k loan paydown + $3k appreciation (0.9% local appreciation)).
• Location reads 64/100 on livability (#215 in OR) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living A; Watch: health & safety C-, employment D+, amenities F.
• North Bend SD 13 (town): math 30% / reading 47% proficiency, ranked #21 of 58 in OR (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: North Bay Elementary School (math 34% / reading 42%, grade F, #197 of 412 statewide, top 48%, 443 students, 69% FRL); North Bend Middle School (math 24% / reading 45%, grade F, #61 of 128 statewide, top 54%, 494 students, 68% FRL); North Bend Senior High School (math 75% / reading 75%, grade A-, #2 of 143 statewide, top 6%, 731 students, 30% FRL) — zoned schools average 56% FRL vs 40% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 87 active listings in the ZIP; 122 units permitted in Coos County in 2024 (16 in 5+ unit buildings).
• Coos County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Current owner paid $30k; list at $280k implies a 833% gain — meaningful room to come down on a strong offer.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 5.6% vs local median 3.7% in Lakeside — 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

• 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 33 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
• 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?
• 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.
• 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.