2633 SW Obsidian Ave Unit 42 · Redmond, OR 97756

$169,500

3 bd · 2.0 ba · 1,296 sqft · Manufactured public records · 2 Days on market

Built 1990 $131/sqft · 20% below area Est $210k · 19% under $385/mo HOA · 18% of rent

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Why this score? — see what drove the C+ 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 +22.2/30.0
• ARV discount +15.0/15.0
• 1% rule +7.6/10.0
• DSCR +7.1/10.0
• Livability +3.9/5.0
• Rent growth +3.3/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Ready move in condition home in this senior 55+ mobile home park. 3 bedrooms, 2 baths, sky light in kitchen, large living room & dining area. Covered front entry deck and open back deck to enjoy the warm sunny days. Covered parking area.

Key facts

• Parking
• Built 1990
• Listed 2 days

Property features AI

Finance

• Financial info: Land lease $385 monthly
• HOA & community: Has association; Association fee $385 monthly; Association amenities include RV/boat storage, sewer, snow removal, trash, water; Senior community; CC&Rs apply

Exterior

• Parking: Attached carport; Concrete driveway; On-street parking; RV access/parking; No enclosed garage
• Security: Carbon monoxide detector(s); Smoke detector(s)
• Utilities: Public water; Public sewer; Electricity connected; Utility easements present
• Home design: Mobile home (double wide) located in-park; One story; May remain in park; Manufacturer: Moduline
• Construction: Built in 1990; Pillar/post/pier foundation; Double pane windows with vinyl frames; Skirt: metal and wood
• Exterior features: Composition roof; Shed(s); Drip irrigation system; Garden; Landscaped; Level lot; Sprinkler timer(s); Sprinklers in front; Sprinklers in rear; Paved road access

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Oven; Range; Range hood; Refrigerator; Pantry; Breakfast bar
• Bedrooms: 3 bedrooms (primary bedroom on main level)
• Flooring: Carpet; Laminate; Tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (electric); Heat pump; Central air
• Interior features: Breakfast bar; Ceiling fans; Open floor plan; Pantry; Primary bedroom on main level; Shower/tub combo; Tile shower; Vaulted ceilings; Walk-in closet; Laminate counters; Solid surface counters; Tile counters
• Laundry & utility: Washer; Dryer; Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $170k.

Deal economics

• At list price, monthly cash flow is $275 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Cap rate 8.2% vs local median 2.8% in Redmond — 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 78/100 on livability (#68 in OR, #2,715 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, amenities A-; Watch: commute F.
• Redmond SD 2J (town): math 24% / reading 42% proficiency, ranked #28 of 58 in OR (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Vern Patrick Elementary School (math 34% / reading 34%, grade F, #218 of 412 statewide, top 58%, 331 students, 68% FRL); Obsidian Middle School (math 20% / reading 39%, grade F, #86 of 128 statewide, top 72%, 591 students, 48% FRL); Redmond High School (936 students, 38% FRL) — zoned schools at 51% FRL track the district average.
• Market conditions: Rents rising (+3.4%/yr); 731 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,624 units permitted in Deschutes County in 2024 (391 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Deschutes County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 26y ago 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: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $169,500

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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.

Investment metrics

• 1% rule: 1.26% ✓
• Cap rate: 8.24%
• Cash-on-cash: 6.96%
• DSCR: 1.31
• GRM: 6.6

CMA / ARV

• ARV (median comp): $210,056
• List price: $169,500
• Delta: -19.31%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2633 SW Obsidian Ave Unit 42	0.00mi	3/2.0	1,292 (-0%)	0mo	$155,000	$120	99
2395 SW Yarrow Creek Dr	0.22mi	3/2.0	1,296 (0%)	2mo	$340,000	$262	88
2476 SW Mariposa Loop	0.13mi	3/2.0	1,296 (0%)	9mo	$299,900	$231	86
2527 SW Mariposa Loop	0.13mi	3/2.0	1,352 (+4%)	11mo	$352,000	$260	77
2550 SW Yarrow Creek Dr	0.13mi	2/2.0 (-1)	1,195 (-8%)	2mo	$240,000	$201	74
1907 SW 20th St	0.51mi	3/2.0	1,296 (0%)	3mo	$410,000	$316	74
2803 SW Quartz Ave	0.33mi	3/2.0	1,300 (+0%)	14mo	$395,000	$304	72
2633 SW Obsidian Ave #5	0.00mi	2/2.0 (-1)	1,152 (-11%)	6mo	$90,000	$78	72
1201 SW 28th St #24	0.31mi	3/2.0	1,188 (-8%)	1mo	$213,000	$179	71
1193 SW Currant Dr	0.20mi	3/2.0	1,200 (-7%)	11mo	$329,000	$274	69
1201 SW 28th St #48	0.31mi	3/2.0	1,404 (+8%)	7mo	$210,000	$150	66
2415 SW Yarrow Creek Dr	0.21mi	3/2.0	1,404 (+8%)	13mo	$345,000	$246	66

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.39% rent growth · sell at horizon

5-year hold

• IRR: -5.0%
• Equity multiple: 0.81×
• Total profit: $-8,916
• Equity at exit: $25,273

10-year hold

• IRR: 5.3%
• Equity multiple: 1.40×
• Total profit: $19,023
• Equity at exit: $14,655

Cash invested: $47,460 (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 97756

• Rents YoY: 3.4%
• Active inventory: 731
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $2,138 high
• Mortgage (P&I): −$889
• Tax from tax record: −$69 /mo · $829/yr
• Insurance: −$71
• HOA: −$385
• Vacancy / Maint / Mgmt: −$449
• Net cashflow: $275

Break-even live

Break-even rent $1,789

Max offer price $169,500

Occupancy floor 82%

Sensitivity live

Price	-10% $371	-5% $323	+0% $275	+5% $227	+10% $179
Rent	-10% $106	-5% $191	+0% $275	+5% $360	+10% $444
Rate	-1.0pp $361	-0.5pp $318	base $275	+0.5pp $231	+1.0pp $187

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: $42,375
• Closing costs: $5,085
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1373 SW 27th St Redmond, OR	3.0	2.5	1550	$1,995	$1.29	45d	1	0.11mi
1726 SW 27th St Redmond, OR	3.0	2.5	1728	$2,350	$1.36	15d	1	0.25mi
3080 SW Obsidian Ave Unit DE-OBSI3080 Redmond, OR	3.0	2.5	1450	$2,325	$1.60	45d	1	0.31mi
1547 SW Rimrock Way Unit 13-508 Redmond, OR	3.0	2.0	1232	$1,995	$1.62	22d	1	0.34mi
1973 SW Canyon Dr Redmond, OR	2.0	1.5	1025	$1,725	$1.68	45d	1	0.61mi
3570 SW Metolius Ave Redmond, OR	1.0–4.0	1.0–2.5	1572	$2,395	$1.52	15d	22	0.62mi
1510 SW 36th Loop Redmond, OR	2.0	1.0	880	$1,895	$2.15	22d	1	0.63mi
1813 SW Reindeer Ave Unit 1817 Redmond, OR	3.0	3.0	1500	$1,995	$1.33	45d	1	0.66mi
1464 SW 16th St Redmond, OR	2.0	2.5	1505	$2,200	$1.46	45d	1	0.68mi
2442 SW 23rd St Redmond, OR	2.0	2.0	1047	$1,675	$1.60	45d	1	0.68mi
2120 SW Canyon Dr Unit 3 Redmond, OR	2.0	2.5	1038	$1,695	$1.63	45d	1	0.71mi
1875 SW Salmon Ave Unit 1875 Redmond, OR	2.0	2.5	1128	$1,695	$1.50	15d	1	0.73mi
1840 SW 15th St Unit 1848-201 Redmond, OR	2.0	2.0	976	$1,795	$1.84	45d	1	0.77mi
1840 SW 15th St Unit 1844-104 Redmond, OR	2.0	2.0	976	$1,825	$1.87	45d	1	0.77mi
1840 SW 15th St Unit 1848-204 Redmond, OR	2.0	2.0	976	$1,795	$1.84	15d	1	0.78mi
1329 SW Pumice Ave Redmond, OR	1.0–3.0	1.0–2.0	988	$2,465	$2.49	15d	14	0.82mi
2825 SW Umatilla Ave Redmond, OR	2.0	1.5	900	$1,800	$2.00	45d	1	0.82mi
2839 SW Umatilla Ave Unit 2837 Redmond, OR	3.0	2.0	1326	$1,995	$1.50	22d	1	0.82mi
2614 SW Cascade Mountain Ln Unit 2614 Redmond, OR	3.0	2.5	1545	$1,995	$1.29	22d	1	0.85mi
2636 SW Cascade Mountain Ln Unit 2636 Redmond, OR	3.0	2.5	1517	$1,895	$1.25	22d	1	0.85mi
2121 SW Umatilla Ave Unit 13 Redmond, OR	2.0	2.0	900	$1,495	$1.66	45d	1	0.86mi
937 SW 11th St Unit 24 Redmond, OR	2.0	1.5	925	$1,495	$1.62	22d	1	0.96mi
1950 SW Umatilla Ave Redmond, OR	2.0–4.0	2.0	1064	$1,702	$1.60	15d	8	0.97mi
333 SW 35th St Redmond, OR	3.0	2.0	1648	$3,000	$1.82	45d	1	1.03mi
3417 W Antler Ave Redmond, OR	3.0	2.0	1355	$2,450	$1.81	45d	1	1.07mi
2561 NW Cedar Ave Unit 3 Redmond, OR	3.0	2.5	1212	$1,795	$1.48	45d	1	1.07mi
2521 NW Cedar Ave #1 Redmond, OR	2.0	2.5	1091	$1,800	$1.65	22d	1	1.09mi
2571 NW Cedar Ave #1 Redmond, OR	2.0	2.5	1091	$1,900	$1.74	22d	1	1.10mi
2611 NW Cedar Ave Unit 3 Redmond, OR	3.0	2.5	1214	$1,950	$1.61	15d	1	1.11mi
2602 NW Elm Ave Redmond, OR	2.0–3.0	2.0–3.0	1177	$2,250	$1.91	15d	3	1.17mi
1039 SW Cascade Ave Redmond, OR	3.0	1.0	1200	$2,200	$1.83	45d	1	1.23mi
405 NW 17th St #2 Redmond, OR	2.0	1.0	975	$1,450	$1.49	15d	1	1.25mi
438 NW 17th St Unit 04 Redmond, OR	2.0	1.0	1000	$1,350	$1.35	45d	1	1.29mi
2522 SW Yew Ave Redmond, OR	2.0	2.0	1174	$2,445	$2.08	15d	1	1.33mi
404 SW 6th St Redmond, OR	2.0	2.0	1238	$2,250	$1.82	15d	1	1.39mi
2584 NW Hemlock Ave Redmond, OR	4.0	2.5	1725	$2,895	$1.68	45d	1	1.42mi

HOA detail

• Monthly dues: $385 · $4,620/yr

Listing history 17 events

1. 2026-05-03
   status Pending 777-char remark
2. 2026-05-01
   listed $169,500 Active 777-char remark
3. 2017-03-24
   soldstatus $60,000 Sold 243-char remark

   Show marketing remark (243 chars)

   Ready move in condition home in this senior 55+ mobile home park. 3 bedrooms, 2 baths, sky light in kitchen, large living room & dining area. Covered front entry deck and open back deck to enjoy the warm sunny days. Covered parking area.

4. 2017-03-12
   status Pending 243-char remark

   Show marketing remark (243 chars)

   Ready move in condition home in this senior 55+ mobile home park. 3 bedrooms, 2 baths, sky light in kitchen, large living room & dining area. Covered front entry deck and open back deck to enjoy the warm sunny days. Covered parking area.

5. 2017-03-10
   listed $55,000 Active 243-char remark

   Show marketing remark (243 chars)

   Ready move in condition home in this senior 55+ mobile home park. 3 bedrooms, 2 baths, sky light in kitchen, large living room & dining area. Covered front entry deck and open back deck to enjoy the warm sunny days. Covered parking area.

6. 2014-04-18
   soldstatus $40,000

   Show marketing remark (458 chars)

   55+ Park. Space Rent of $350.00 includes water, sewer & garbage. Everything is done for you, new windows, paint, flooring including wood, vinyl, carpet & tile. Newly redone cabinets, pantry & appliances. Large new tiled master shower. All new toilets, sinks, faucets, lighting and cabinets. Underground sprinkler system. New front porch and steps. current renter would like to stay. He pays $450.00 a month Owner is Oregon licensed realtor.

7. 2014-04-10
   historical

   Show marketing remark (458 chars)

   55+ Park. Space Rent of $350.00 includes water, sewer & garbage. Everything is done for you, new windows, paint, flooring including wood, vinyl, carpet & tile. Newly redone cabinets, pantry & appliances. Large new tiled master shower. All new toilets, sinks, faucets, lighting and cabinets. Underground sprinkler system. New front porch and steps. current renter would like to stay. He pays $450.00 a month Owner is Oregon licensed realtor.

8. 2014-03-19
   listed $43,000

   Show marketing remark (458 chars)

   55+ Park. Space Rent of $350.00 includes water, sewer & garbage. Everything is done for you, new windows, paint, flooring including wood, vinyl, carpet & tile. Newly redone cabinets, pantry & appliances. Large new tiled master shower. All new toilets, sinks, faucets, lighting and cabinets. Underground sprinkler system. New front porch and steps. current renter would like to stay. He pays $450.00 a month Owner is Oregon licensed realtor.

9. 2011-11-10
   soldstatus $10,000
10. 2011-10-19
    historical
11. 2011-08-19
    listed $12,000
12. 2005-01-14
    soldstatus $27,500
13. 2004-07-09
    historical
14. 2004-03-15
    listed $29,900
15. 2001-06-29
    soldstatus $30,000
16. 2001-05-29
    historical
17. 2000-12-13
    listed $32,500

ⓘ 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: $829 · $69/mo
• Projected year-2 tax: $1,644 · $137/mo
• Expected delta: +$815/yr (+$68/mo · 98.3%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 22 unhealthy d/yr today · 25 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,652
• − Mortgage interest: −$9,495
• − Property taxes: −$829
• − Insurance: −$848
• − Repairs & maintenance: −$2,052
• − Management: −$2,052
• − HOA: −$4,620
• − Depreciation: −$4,931
• Taxable income: $826
• Est. tax owed @ 24.0%: −$198
• After-tax cash flow: $3,104/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: Redmond SD 2J
• NCES district ID: 4110350
• Math proficiency: 24% ▼ -19.00%
• Reading proficiency: 42% ▼ -11.00%
• Median HH income: $51,027
• Composite: 28.72/100
• National rank: #6682
• State rank: #28 of 58 in OR

Livability — Redmond

• Score: 78/100
• State rank: #68
• US rank: #2715

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Redmond, OR
• County: Deschutes County · 197,892 people
• City population: 44,914
• Metro: Bend, OR
• Population (ZIP): 44,914
• Household income: $87,278
• Rent vs Own: 30.8% rent · 69.2% own
• Severe rent burden: 1205.0

Population outlook (Deschutes County) Hauer SSP2

• Today (2025): 213,908 people
• By 2030: 232,387 · +8.6%
• By 2040: 265,858 · +24.3%
• By 2050: 295,286 · +38.0%
• By 2075: 353,553 · +65.3%
• By 2100: 380,293 · +77.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 13% Two or more races 4% Native American 2%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Italian 5% Portuguese 4% Slovak 4%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 90% English-only · Spanish 8% Russian/Polish/Slavic 1%

Political lean MEDSL · Deschutes

• 2024 margin: D (+10.1) · D 53.6% · R 43.5% · Other 2.8%
• 2008→2024 swing: +10.4pp toward D · 2008: -0.3pp · 2024: 10.1pp
• All cycles: 2024: D+10.1 2020: D+8.2 2016: R+3.8 2012: R+7.3 2008: R+0.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -292.28%
• Current HPI: 385.3027
• Rent YoY: ▲ 3.39%
• Metro: Bend, OR
• 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

+376.9% since first listed

18 events — show timeline

• 2026-06-11 Sold (MLS) $155,000 MLSCO
• 2026-05-03 Pending — MLSCO
• 2026-05-01 Listed $169,500 MLSCO
• 2017-03-24 Sold (MLS) $60,000 MLSCO
• 2017-03-12 Pending — MLSCO
• 2017-03-10 Listed $55,000 MLSCO
• 2014-04-18 Sold (MLS) $40,000 MLSCO
• 2014-04-10 Listing Removed — MLSCO
• 2014-03-19 Listed $43,000 MLSCO
• 2011-11-10 Sold (MLS) $10,000 MLSCO
• 2011-10-19 Listing Removed — MLSCO
• 2011-08-19 Listed $12,000 MLSCO
• 2005-01-14 Sold (MLS) $27,500 MLSCO
• 2004-07-09 Listing Removed — MLSCO
• 2004-03-15 Listed $29,900 MLSCO
• 2001-06-29 Sold (MLS) $30,000 MLSCO
• 2001-05-29 Listing Removed — MLSCO
• 2000-12-13 Listed $32,500 MLSCO

Property tax history

+6.1%/yr

Latest (2021): $829 · +4.7% YoY. Source: county tax records.