35000 Jackson Way #25

Scappoose, OR 97056

$59,000B

2 bd · 1.0 ba · 784 sqft · Built 1973 · Manufactured · Active · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,795/mo
• Mortgage (P&I): −$309
• Tax + insurance: −$98
• HOA: −$560
• Vac / Maint / Mgmt: −$377
• Net cashflow: $450/mo
• Annual: $5,406/yr
• Cap rate: 15.45%
• Cash-on-cash: 32.72%
• DSCR: 2.46
• 1% rule: 3.04%
• Cash to close: $16,520

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $59k. Condition is rated good.
• At list price, monthly cash flow is $450 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $59k).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $408 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 84/100 on livability (#35 in OR, #812 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, health & safety A+; Watch: cost of living D.
• Scappoose SD 1J (town): math 37% / reading 51% proficiency, ranked #69 of 183 in OR (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Grant Watts Elementary School (reading 54%, 346 students, 38% FRL); Scappoose Middle School (math 30% / reading 75%, grade C+, #24 of 128 statewide, top 18%, 313 students, 28% FRL); Scappoose High School (656 students, 24% FRL) — zoned schools at 30% FRL track the district average.
• Watch-outs: HOA is 31% of rent.
• Market conditions: 149 active listings in the ZIP; 55 units permitted in Columbia County in 2024 (0 in 5+ unit buildings).
• Columbia County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 15.5% vs local median 2.8% in Scappoose — 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

• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Front porch paint — Paint is peeling slightly, indicating a need for touch-up.
• Minor: Kitchen countertops — Countertops could be updated for a more modern look.
• Minor: Bathroom walls — Wallpaper or paint may need touch-ups for a fresh look.
• Minor: Living room carpet — Carpet shows some wear, but could be cleaned or replaced for a fresh look.