150 Indian Oak Ct #6 · Molalla, OR 97038

$43,000

3 bd · 2.0 ba · 1,188 sqft · Condo · 5 Days on market

Built 1991 $36/sqft · 88% below area

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.0/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Accepted Offer with Contingencies. The price is right in Indian Oak Community for all ages! Indoor utility room & large fully fenced backyard with storage shed offer both convenience & extra storage. Situated on quiet no-through street, providing a peaceful setting with minimal traffic. Spacious kitchen opens seamlessly to the dining and living areas, creating an ideal layout for everyday living & possible RV parking adds additional flexibility & value. AS-IS, seller will not do repairs. $560/month park rent covers water, sewer & garbage.

Key facts

• Possible rv parking
• Spacious kitchen
• Indoor utility room

Tags

• INDOOR UTILITY ROOM
• LARGE FULLY FENCED BACKYARD
• QUIET NO-THROUGH STREET
• SPACIOUS KITCHEN
• POSSIBLE RV PARKING

Property features AI

Finance

• Other: Property located in a park (manufactured home in park); Parcel number 01489963
• HOA & community: Monthly lot rent ($560)

Exterior

• Parking: RV parking available
• Utilities: Electric fuel; Public water; Public sewer
• Home design: Manufactured home in a park; Residential property; Single-story living; Territorial view
• Construction: Built in 1991; Composition roof
• Exterior features: Tool shed; T-111 siding; Paved road access

Interior

• Kitchen: Kitchen (appliances: electric hot water)
• Bedrooms: Primary bedroom (main level); 2nd bedroom (main level); 3rd bedroom (main level)
• Flooring: Vinyl; Carpet
• Bathrooms: Two full bathrooms (both on main level)
• Heating & cooling: Baseboard heating; No cooling system listed
• Interior features: One-level accessibility; Vinyl flooring; Wall-to-wall carpet
• Laundry & utility: Utility room (main level)

🏷️ Possibly a rental listed for sale. The $43,000 price doesn't fit this home's estimated sale value (~$355,482) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $43k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $43k).
• Cap rate 38.2% vs local median 2.8% in Molalla — 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.

Location & tenants

• Location reads 79/100 on livability (#62 in OR, #2,293 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: cost of living C-, amenities F.
• Molalla River SD 35 (town): math 21% / reading 43% proficiency, ranked #32 of 58 in OR (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Molalla River Academy (math 34% / reading 54%, grade F, #143 of 412 statewide, top 38%, 202 students, 18% FRL, charter); Molalla River Middle School (math 15% / reading 41%, grade F, #95 of 128 statewide, top 74%, 532 students, 33% FRL); Molalla High School (math 27% / reading 52%, grade F, #78 of 143 statewide, top 58%, 763 students, 32% FRL).
• Market conditions: 108 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 946 units permitted in Clackamas County in 2024 (188 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $297 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Clackamas County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $12k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $43,000

Questions for the listing agent

1. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 4.24% ✓
• Cap rate: 38.20%
• Cash-on-cash: 113.94%
• DSCR: 6.07
• GRM: 2.0

CMA / ARV

• ARV (median comp): $355,482
• List price: $43,000
• Delta: -87.90%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.47×
• Total profit: $65,872
• Equity at exit: $6,411

10-year hold

• IRR: —
• Equity multiple: 13.56×
• Total profit: $151,229
• Equity at exit: $3,718

Cash invested: $12,040 (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 97038

• Active inventory: 108
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $1,824 high
• Mortgage (P&I): −$225
• Tax from tax record: −$54 /mo · $651/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$383
• Net cashflow: $1,143

Break-even live

Break-even rent $377

Max offer price $43,000

Occupancy floor 32%

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: $10,750
• Closing costs: $1,290
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
899 E Main St Molalla, OR	2.0	1.0	828	$1,215	$1.47	2d	1	0.37mi
201 S Leroy Ave Molalla, OR	1.0–3.0	1.0–2.0	966	$2,242	$2.32	2d	11	0.90mi
872 W Main St Molalla, OR	3.0	1.0–2.0	876	$2,090	$2.38	2d	23	1.15mi
1000 W Main St Molalla, OR	2.0	1.0	945	$1,419	$1.50	2d	1	1.23mi
1111 Meadow Dr Molalla, OR	2.0	1.0	855	$1,525	$1.78	2d	2	1.45mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: watersewertrash
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-05-15
   listed $43,000 Active 529-char remark

   Show marketing remark (564 chars)

   Accepted Offer with Contingencies. The price is right in Indian Oak Community for all ages! Indoor utility room & large fully fenced backyard with storage shed offer both convenience & extra storage. Situated on quiet no-through street, providing a peaceful setting with minimal traffic. Spacious kitchen opens seamlessly to the dining and living areas, creating an ideal layout for everyday living & possible RV parking adds additional flexibility & value. AS-IS, seller will not do repairs. $560/month park rent covers water, sewer & garbage.

2. 2026-05-15
   listed $43,000 Active 529-char remark

   Show marketing remark (564 chars)

   Accepted Offer with Contingencies. The price is right in Indian Oak Community for all ages! Indoor utility room & large fully fenced backyard with storage shed offer both convenience & extra storage. Situated on quiet no-through street, providing a peaceful setting with minimal traffic. Spacious kitchen opens seamlessly to the dining and living areas, creating an ideal layout for everyday living & possible RV parking adds additional flexibility & value. AS-IS, seller will not do repairs. $560/month park rent covers water, sewer & garbage.

ⓘ 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: $651 · $54/mo
• Projected year-2 tax: $651 · $54/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥90°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 13 unhealthy d/yr today · 15 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,886
• − Mortgage interest: −$2,409
• − Property taxes: −$651
• − Insurance: −$215
• − Repairs & maintenance: −$1,751
• − Management: −$1,751
• − Depreciation: −$1,251
• Taxable income: $13,859
• Est. tax owed @ 24.0%: −$3,326
• After-tax cash flow: $10,392/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: Molalla River SD 35
• NCES district ID: 4108310
• Math proficiency: 21% ▼ -13.00%
• Reading proficiency: 43% ▼ -7.00%
• Median HH income: $57,194
• Composite: 28.46/100
• National rank: #6748
• State rank: #32 of 58 in OR

Livability — Molalla

• Score: 79/100
• State rank: #62
• US rank: #2293

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Molalla, OR
• County: Clackamas County · 361,406 people
• City population: 16,440
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 16,440
• Household income: $89,564
• Rent vs Own: 35.2% rent · 64.8% own
• Severe rent burden: 439.0

Population outlook (Clackamas County) Hauer SSP2

• Today (2025): 458,456 people
• By 2030: 485,185 · +5.8%
• By 2040: 532,932 · +16.2%
• By 2050: 574,445 · +25.3%
• By 2075: 665,497 · +45.2%
• By 2100: 697,488 · +52.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 11% Two or more races 4%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Slovak 4% Portuguese 4% Italian 3%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 6% Russian/Polish/Slavic 1% German/W. Germanic 1%

Political lean MEDSL · Clackamas

• 2024 margin: Lean D (+9.7) · D 53.4% · R 43.6% · Other 3.0%
• 2008→2024 swing: -0.6pp no change · 2008: 10.4pp · 2024: 9.7pp
• All cycles: 2024: D+9.7 2020: D+11.1 2016: D+6.1 2012: D+3.5 2008: D+10.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -185.07%
• Current HPI: 287.6491
• Rent YoY: —
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• 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

+0.0% since first listed

4 events — show timeline

• 2026-05-21 Pending — RMLS
• 2026-05-21 Contingent — WVMLS
• 2026-05-15 Listed $43,000 WVMLS
• 2026-05-15 Listed $43,000 RMLS

Property tax history

+4.7%/yr

Latest (2025): $651 · +3.4% YoY. Source: county tax records.