94120 Strahan St #58

Gold Beach, OR 97444

$127,000C+

2 bd · 1.0 ba · 728 sqft · Built 1973 · Manufactured · Active · 99 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,479/mo
• Mortgage (P&I): −$666
• Tax + insurance: −$212
• HOA: −$0
• Vac / Maint / Mgmt: −$311
• Net cashflow: $291/mo
• Annual: $3,491/yr
• Cap rate: 9.04%
• Cash-on-cash: 9.82%
• DSCR: 1.44
• 1% rule: 1.16%
• Cash to close: $35,560

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $127k. Condition is rated good.
• At list price, monthly cash flow is $291 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $127k).
• It's been on market 99 days — a 9% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $116k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $878 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#129 in OR) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A+, cost of living B; Watch: amenities F, commute F, employment F.
• Central Curry SD 1 (town): math 42% / reading 54% proficiency, ranked #53 of 183 in OR (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Riley Creek Elementary School (math 22% / reading 22%, grade F, #352 of 412 statewide, top 85%, 310 students, 66% FRL); Gold Beach High School (math 30% / reading 50%, grade F, #69 of 143 statewide, top 54%, 123 students, 67% FRL).
• Zoned-school proficiency averages 31% at this address vs 48% district-wide (-17 pts) — the specific schools serving this property underperform the Central Curry SD 1 average; the district grade overstates school quality for this exact location.
• Market conditions: 168 active listings in the ZIP; 52 units permitted in Curry County in 2024 (0 in 5+ unit buildings).
• Curry County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Cap rate 9.0% vs local median 2.3% in Gold Beach — 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

• It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1973 — 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.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.