57036 Wamic Market Rd

Wamic, OR 97063

$265,000D

2 bd · 2.0 ba · 1,758 sqft · Built 1910 · SingleFamily · Active · 198 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,599/mo
• Mortgage (P&I): −$1,390
• Tax + insurance: −$353
• HOA: −$0
• Vac / Maint / Mgmt: −$336
• Net cashflow: $-480/mo
• Annual: $-5,762/yr
• Cap rate: 4.69%
• Cash-on-cash: -5.74%
• DSCR: 0.74
• 1% rule: 0.60%
• Cash to close: $74,200

Investor read

• This is a 2-bed/2.0-bath single-family listed at $265k.
• At list price, monthly cash flow is $-480 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $180k (32.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $160k (39.7% below list).
• It's been on market 198 days — a 12% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $160k (39.7% below list) — sets the bar for 1% rule.
• In year one you build about $6k of equity ($2k loan paydown + $4k appreciation (1.7% local appreciation)).
• Location reads 61/100 on livability (#273 in OR) — a middle-class / working-renter tenant base. Watch: health & safety C-, amenities F, commute F.
• South Wasco County SD 1 (rural): math 20% / reading 50% proficiency, ranked #142 of 183 in OR (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Maupin Elementary School (math 24% / reading 30%, grade F, #288 of 412 statewide, top 73%, 112 students, 62% FRL); South Wasco County High School (math 15% / reading 54%, grade F, #90 of 143 statewide, top 65%, 112 students, 88% FRL) — zoned schools average 75% FRL vs 57% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: flood insurance adds $125/mo; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 44 active listings in the ZIP; 48 units permitted in Wasco County in 2024 (0 in 5+ unit buildings).
• Wasco County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $85k; list at $265k implies a 212% gain — meaningful room to come down on a strong offer.
• By year 6, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

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 198 days. Have you received any prior offers? Is the seller open to a 40% concession, seller financing, or rate buy-down credit?
• Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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?
• 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?