3137 Rainbow Lp #6 · Hubbard, OR 97032

$66,900

2 bd · 2.0 ba · 960 sqft · Manufactured public records · 23 Days on market

Built 1984 Est $72k · 7% under

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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 +30.0/30.0
• ARV discount +10.7/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Well maintained Belmont double wide Manufactured Home in Hoodview Mobile Estates, 55+ community. This 2 bedroom, 2 bathroom home features a covered front porch with deck, skylight in the living room for abundant natural light, ceiling fan, and quality Sears vinyl windows throughout. Exterior features include durable aluminum siding, a carport with attached workshop complete with workbench and electricity, plus an additional storage shed in the backyard. Enjoy comfortable living in a quiet community setting

Key facts

• Covered front porch
• Garage
• Built 1984

Tags

• COVERED FRONT PORCH
• SKYLIGHT IN LIVING ROOM
• DURABLE ALUMINUM SIDING
• CARPORT WITH ATTACHED WORKSHOP
• ADDITIONAL STORAGE SHED

Property features AI

Finance

• HOA & community: Located in a 55+ community (Hoodview Mobile Estates)

Exterior

• Parking: Carport; 1 garage space
• Home design: Double wide manufactured home; Built in 1984; White exterior
• Construction: Manufactured home (Belmont)
• Exterior features: Covered front porch with deck; Back porch; Aluminum siding; Storage shed in backyard; Carport with attached workshop (workbench and electricity)

Interior

• Kitchen: Dishwasher; Range included
• Bedrooms: 2 bedrooms
• Bathrooms: 2 bathrooms
• Interior features: Skylight in living room; Ceiling fan; Sears vinyl windows throughout

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $67k.

Deal economics

• At list price, monthly cash flow is $970 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $67k).
• Recommended offer: $66k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 80/100 on livability (#57 in OR, #1,930 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: cost of living C-, health & safety D+, amenities F.
• North Marion SD 15 (rural): math 27% / reading 43% proficiency, ranked #131 of 183 in OR (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: North Marion Primary School (326 students, 58% FRL); North Marion High School (math 10% / reading 50%, grade F, #107 of 143 statewide, top 78%, 603 students, 45% FRL) — zoned schools at 51% FRL track the district average.
• Market conditions: 20 active listings in the ZIP; 1,591 units permitted in Marion County in 2024 (716 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $463 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Marion County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $25k; list at $67k implies a 164% gain — meaningful room to come down on a strong offer.

Recommended offer $65,896 (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. 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?
3. 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.
4. 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.
5. 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: 2.62% ✓
• Cap rate: 23.69%
• Cash-on-cash: 62.13%
• DSCR: 3.76
• GRM: 3.2

CMA / ARV

• ARV (on-the-fly): $72,000
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3197 Rainbow Loop #10	0.07mi	2/2.0	1,056 (+10%)	5mo	$55,000	$52	76
3457 Rainbow Loop	0.11mi	2/2.0	1,008 (+5%)	22mo	$75,500	$75	68
3370 Maple St #44	0.53mi	3/1.0 (+1)	972 (+1%)	1mo	$106,000	$109	63
3367 Rainbow Loop #18	0.12mi	3/1.0 (+1)	985 (+3%)	22mo	$75,000	$76	63
3289 Ash St #61	0.49mi	3/2.0 (+1)	1,056 (+10%)	2mo	$61,500	$58	54
3486 Rainbow Loop	0.07mi	3/2.0 (+1)	1,092 (+14%)	21mo	$60,000	$55	51
3486 Rainbow Lp #28	0.07mi	3/1.5 (+1)	1,092 (+14%)	21mo	$60,000	$55	49
3933 Lindsey Ave #41	0.34mi	3/2.0 (+1)	1,080 (+12%)	24mo	$155,000	$144	39

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 61.0%
• Equity multiple: 3.72×
• Total profit: $50,929
• Equity at exit: $9,975

10-year hold

• IRR: 65.7%
• Equity multiple: 7.61×
• Total profit: $123,881
• Equity at exit: $5,784

Cash invested: $18,732 (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 97032

• Home prices YoY: -27.9%
• Active inventory: 20
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,754 medium
• Mortgage (P&I): −$351
• Tax from tax record: −$37 /mo · $448/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $970

Break-even live

Break-even rent $527

Max offer price $66,900

Occupancy floor 40%

Sensitivity live

Price	-10% $1,008	-5% $989	+0% $970	+5% $951	+10% $932
Rent	-10% $831	-5% $901	+0% $970	+5% $1,039	+10% $1,108
Rate	-1.0pp $1,004	-0.5pp $987	base $970	+0.5pp $953	+1.0pp $935

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: $16,725
• Closing costs: $2,007
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $66,900 Active 23 DOM
2. 2026-06-17
   days on market $66,900 Active 22 DOM
3. 2026-06-16
   days on market $66,900 Active 21 DOM
4. 2026-06-15
   days on market $66,900 Active 20 DOM
5. 2026-06-13
   days on market $66,900 Active 18 DOM
6. 2026-06-13
   days on market $66,900 Active 17 DOM
7. 2026-06-09
   days on market $66,900 Active 14 DOM
8. 2026-06-08
   days on market $66,900 Active 13 DOM
9. 2026-06-07
   days on market $66,900 Active 12 DOM
10. 2026-06-03
    days on market $66,900 Active 8 DOM
11. 2026-06-02
    days on market $66,900 Active 7 DOM
12. 2026-06-01
    days on market $66,900 Active 6 DOM
13. 2026-05-31
    days on market $66,900 Active 5 DOM
14. 2026-05-26
    listed $66,900 Active
15. 1984-01-23
    soldstatus $25,345

ⓘ 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: $448 · $37/mo
• Projected year-2 tax: $649 · $54/mo
• Expected delta: +$201/yr (+$17/mo · 44.9%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥91°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 13 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,052
• − Mortgage interest: −$3,747
• − Property taxes: −$448
• − Insurance: −$334
• − Repairs & maintenance: −$1,684
• − Management: −$1,684
• − Depreciation: −$1,946
• Taxable income: $11,207
• Est. tax owed @ 24.0%: −$2,690
• After-tax cash flow: $8,949/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: North Marion SD 15
• NCES district ID: 4108880
• Math proficiency: 27% ▬ 0.00%
• Reading proficiency: 43% ▼ -6.00%
• Median HH income: $55,867
• Composite: 33.51/100
• National rank: #10515
• State rank: #131 of 183 in OR

Livability — Hubbard

• Score: 80/100
• State rank: #57
• US rank: #1930

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hubbard, OR
• Population (ZIP): 4,810

Population outlook (Marion County) Hauer SSP2

• Today (2025): 360,940 people
• By 2030: 375,178 · +3.9%
• By 2040: 400,914 · +11.1%
• By 2050: 422,187 · +17.0%
• By 2075: 460,305 · +27.5%
• By 2100: 464,025 · +28.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 33% Two or more races 7% Native American 4%
• Hispanic origin (detail): Mexican 31%
• Common ancestry: Italian 5% Scotch-Irish 5% Slovak 4%
• Foreign-born: 9% · Canada, Dominican Republic
• Languages at home: 79% English-only · Spanish 19% Other Asian/Pacific 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Marion

• 2024 margin: Toss-up / Even · D 47.5% · R 49.5% · Other 3.0%
• 2008→2024 swing: -4.2pp toward R · 2008: 2.2pp · 2024: -2.0pp
• All cycles: 2024: R+2.0 2020: D+1.1 2016: R+5.0 2012: R+3.5 2008: D+2.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -112.22%
• Current HPI: 289.9111
• Rent YoY: —
• Metro: —
• 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

+164.0% since first listed

2 events — show timeline

• 2026-05-26 Listed $66,900 WVMLS
• 1984-01-23 Sold (Public Records) $25,345 Public Records

Property tax history

+3.0%/yr

Latest (2025): $448 · +3.3% YoY. Source: county tax records.