407 Dufur Ave

Maupin, OR 97037

$325,000D

3 bd · 2.0 ba · 1,296 sqft · Built 1995 · Manufactured · Active · 175 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,200/mo
• Mortgage (P&I): −$1,704
• Tax + insurance: −$304
• HOA: −$0
• Vac / Maint / Mgmt: −$462
• Net cashflow: $-271/mo
• Annual: $-3,246/yr
• Cap rate: 5.29%
• Cash-on-cash: -3.57%
• DSCR: 0.84
• 1% rule: 0.68%
• Cash to close: $91,000

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $325k.
• At list price, monthly cash flow is $-271 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $277k (14.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $220k (32.3% below list).
• It's been on market 175 days — a 12% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $220k (32.3% below list) — sets the bar for 1% rule.
• In year one you build about $35k of equity ($2k loan paydown + $32k appreciation (10.0% local appreciation)).
• Location reads 64/100 on livability (#219 in OR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D, amenities 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.
• Market conditions: 32 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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.
• 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.
• Current owner paid $200k; list at $325k implies a 62% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$56k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — 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 175 days. Have you received any prior offers? Is the seller open to a 32% 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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?
• 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.