1916 Redtail Hawk Dr Unit RV45C

Eagle Crest, OR 97756

$5,000D-

3 bd · 2.0 ba · 1,405 sqft · Built 1993 · SingleFamily · Active · 33 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,333/mo
• Mortgage (P&I): −$26
• Tax + insurance: −$8
• HOA: −$399
• Vac / Maint / Mgmt: −$490
• Net cashflow: $1,410/mo
• Annual: $16,919/yr
• Cap rate: 344.67%
• Cash-on-cash: 1208.48%
• DSCR: 54.77
• 1% rule: 46.67%
• Cash to close: $1,400

Investor read

• This is a 3-bed/2.0-bath single-family listed at $5k.
• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $5k).
• It's been on market 33 days — a 3% lower offer ($5k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $5k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $35 of loan paydown is wiped out by about $150 of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#272 in OR) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+; Watch: health & safety C-, amenities F, 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: Tumalo Community School (math 44% / reading 64%, grade C, #79 of 412 statewide, top 21%, 265 students, 38% FRL); Obsidian Middle School (math 20% / reading 39%, grade F, #86 of 128 statewide, top 72%, 591 students, 48% FRL); Ridgeview High School (math 30% / reading 50%, grade F, #69 of 143 statewide, top 54%, 870 students, 36% FRL).
• Market conditions: Rents rising (+3.4%/yr); 731 active listings in the ZIP; solid renter incomes; 1,624 units permitted in Deschutes County in 2024 (391 in 5+ unit buildings).
• Deschutes County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.4% rent growth), your $1k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 344.7% vs local median 1.5% in Eagle Crest — 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 32% of the median local income ($87k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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?
• 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.
• 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.