10100 NE Crooked River Dr Unit 6

Terrebonne, OR 97760

$105,000B

2 bd · 1.0 ba · 964 sqft · Built 1982 · Manufactured · Active · 119 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,957/mo
• Mortgage (P&I): −$551
• Tax + insurance: −$75
• HOA: −$0
• Vac / Maint / Mgmt: −$411
• Net cashflow: $920/mo
• Annual: $11,039/yr
• Cap rate: 16.81%
• Cash-on-cash: 37.55%
• DSCR: 2.67
• 1% rule: 1.86%
• Cash to close: $29,400

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $105k.
• At list price, monthly cash flow is $920 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• It's been on market 119 days — a 9% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $96k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#177 in OR) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living B+; Watch: health & safety C-, employment D+, schools D-.
• Redmond SD 2J (town): math 24% / reading 42% proficiency, ranked #28 of 58 in OR (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 142 active listings in the ZIP; 1,624 units permitted in Deschutes County in 2024 (391 in 5+ unit buildings).
• Deschutes County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 16.8% vs local median 1.1% in Terrebonne — 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 119 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• 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.