55636 Mckenzie River Dr #9

Blue River, OR 97413

$61,500C-

1 bd · 1.0 ba · 384 sqft · Built 2008 · Manufactured · Active · 33 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $592/mo
• Mortgage (P&I): −$323
• Tax + insurance: −$102
• HOA: −$0
• Vac / Maint / Mgmt: −$124
• Net cashflow: $42/mo
• Annual: $508/yr
• Cap rate: 7.12%
• Cash-on-cash: 2.95%
• DSCR: 1.13
• 1% rule: 0.96%
• Cash to close: $17,220

Investor read

• This is a 1-bed/1.0-bath manufactured listed at $62k.
• At list price, monthly cash flow is $42 ($508/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $59k (3.8% below list).
• It's been on market 33 days — a 3% lower offer ($60k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $59k (3.8% below list) — sets the bar for 1% rule.
• In year one you build about $1k of equity ($425 loan paydown + $890 appreciation (1.4% local appreciation)).
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Mckenzie SD 68 (rural): math 40% / reading 60% proficiency, ranked #41 of 183 in OR (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Mckenzie River Community School (math 24%, 174 students, 84% FRL, charter).
• Market conditions: 47 active listings in the ZIP; 1,808 units permitted in Lane County in 2024 (972 in 5+ unit buildings).
• Lane County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $4k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $36k; list at $62k implies a 71% gain — meaningful room to come down on a strong offer.
• At projected returns (1.4% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~8 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 33 days. Have you received any prior offers? Is the seller open to a 4% 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.
• 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.