6571 Oakridge Dr

Gladstone, OR 97027

$265,000C

5 bd · 3.0 ba · 2,774 sqft · Built 1976 · SingleFamily · Pending · 115 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,148/mo
• Mortgage (P&I): −$1,390
• Tax + insurance: −$640
• HOA: −$50
• Vac / Maint / Mgmt: −$661
• Net cashflow: $407/mo
• Annual: $4,886/yr
• Cap rate: 8.14%
• Cash-on-cash: 6.59%
• DSCR: 1.29
• 1% rule: 1.19%
• Cash to close: $74,200

Investor read

• This is a 5-bed/3.0-bath single-family listed at $265k.
• At list price, monthly cash flow is $407 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $265k).
• It's been on market 115 days — a 9% lower offer ($241k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $241k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 89/100 on livability (#7 in OR, #168 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: cost of living D-.
• Gladstone SD 115 (suburban): math 75% / reading 75% proficiency, ranked #2 of 58 in OR (top 3%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: John Wetten Elementary School (574 students, 42% FRL); Walter L Kraxberger Middle School (373 students, 39% FRL); Gladstone High School (594 students, 35% FRL) — zoned schools at 38% FRL track the district average.
• Market conditions: Rents flat; 43 active listings in the ZIP; solid renter incomes; 946 units permitted in Clackamas County in 2024 (188 in 5+ unit buildings).
• Clackamas County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts; this cycle's ask has dropped $70k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 8.1% vs local median 2.9% in Gladstone — 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.
• This rent runs 40% of the median local income ($94k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 115 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1976 — 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?
• 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.
• 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.