233 Glenn St · Vale, OR 97918

$154,900

2 bd · 1.0 ba · 806 sqft · SingleFamily public records · 328 Days on market

Built 1907 7,840 sqft lot $192/sqft · 20% below area Est $195k · 20% under ↓ 9% since listing

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +5.6/30.0
• Schools +3.4/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.3/10.0
• DSCR +0.1/10.0

Listing remarks MLS

Family-owned since 1948, this 1907 Vale home offers a rare opportunity to own a well-preserved piece of local history. Original character throughout, including some hardwood floors and a charming 1950s-era kitchen. Features include a covered patio, metal roof, detached double garage, irrigation well with pump, and a large corner lot. Lovely cared for across generations and thoughtfully repriced to reflect current market conditions. A special home ready for its next chapter!!

Key facts

• Metal roof
• Large corner lot
• Laundry room

Tags

• HARDWOOD FLOORS
• LAUNDRY ROOM
• COVERED PATIO
• METAL ROOF
• WELL W PUMP
• LARGE CORNER LOT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $-321 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $98k (36.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $82k (47.2% below list).
• Recommended offer: $82k (47.2% below list) — sets the bar for 1% rule.
• Cap rate 3.8% vs local median 1.5% in Vale — 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 68/100 on livability (#155 in OR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools C-, amenities F, commute F.
• Vale SD 84 (rural): math 34% / reading 47% proficiency, ranked #15 of 58 in OR (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 35 active listings in the ZIP; 44 units permitted in Malheur County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Malheur County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 328 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1907 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $81,732 (47.2% below list)

Questions for the listing agent

1. 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?
2. It's been on market 328 days. Have you received any prior offers? Is the seller open to a 47% concession, seller financing, or rate buy-down credit?
3. Built in 1907 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.53% ✗
• Cap rate: 3.81%
• Cash-on-cash: -8.88%
• DSCR: 0.61
• GRM: 15.8

CMA / ARV

• ARV (median comp): $194,835
• List price: $154,900
• Delta: -20.50%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
349 Cottage St South	0.30mi	2/1.0	691 (-14%)	7mo	$164,000	$237	56
725 15th St N	0.56mi	3/1.5 (+1)	867 (+8%)	20mo	$229,000	$264	38

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.0%
• Equity multiple: 2.47×
• Total profit: $63,878
• Equity at exit: $139,546

10-year hold

• IRR: 16.8%
• Equity multiple: 5.71×
• Total profit: $204,076
• Equity at exit: $300,937

Cash invested: $43,372 (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 97918

• Home prices YoY: 14.8%
• Active inventory: 35
• Price-to-rent: 15.8×

Monthly cashflow live

• Estimated rent: $817 medium
• Mortgage (P&I): −$812
• Tax from tax record: −$90 /mo · $1,076/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$172
• Net cashflow: $-321

Break-even live

Break-even rent $1,223

Max offer price $98,226

Occupancy floor —

Sensitivity live

Price	-10% $-233	-5% $-277	+0% $-321	+5% $-365	+10% $-409
Rent	-10% $-385	-5% $-353	+0% $-321	+5% $-289	+10% $-256
Rate	-1.0pp $-243	-0.5pp $-281	base $-321	+0.5pp $-361	+1.0pp $-402

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $154,900 Active 328 DOM
2. 2026-06-18
   days on market $154,900 Active 326 DOM
3. 2026-06-17
   days on market $154,900 Active 325 DOM
4. 2026-06-16
   days on market $154,900 Active 324 DOM
5. 2026-06-15
   days on market $154,900 Active 323 DOM
6. 2026-06-13
   days on market $154,900 Active 321 DOM
7. 2026-06-12
   days on market $154,900 Active 320 DOM
8. 2026-06-09
   days on market $154,900 Active 317 DOM
9. 2026-06-08
   days on market $154,900 Active 316 DOM
10. 2026-06-08
    days on market $154,900 Active 315 DOM
11. 2026-06-07
    days on market $154,900 Active 314 DOM
12. 2026-06-04
    days on market $154,900 Active 311 DOM
13. 2026-06-02
    days on market $154,900 Active 310 DOM
14. 2026-06-01
    days on market $154,900 Active 309 DOM
15. 2026-05-31
    days on market $154,900 Active 308 DOM
16. 2026-05-06
    price $154,900 479-char remark

    Show marketing remark (479 chars)

    Family-owned since 1948, this 1907 Vale home offers a rare opportunity to own a well-preserved piece of local history. Original character throughout, including some hardwood floors and a charming 1950s-era kitchen. Features include a covered patio, metal roof, detached double garage, irrigation well with pump, and a large corner lot. Lovely cared for across generations and thoughtfully repriced to reflect current market conditions. A special home ready for its next chapter!!

17. 2025-08-31
    price $160,000 479-char remark

    Show marketing remark (479 chars)

    Family-owned since 1948, this 1907 Vale home offers a rare opportunity to own a well-preserved piece of local history. Original character throughout, including some hardwood floors and a charming 1950s-era kitchen. Features include a covered patio, metal roof, detached double garage, irrigation well with pump, and a large corner lot. Lovely cared for across generations and thoughtfully repriced to reflect current market conditions. A special home ready for its next chapter!!

18. 2025-07-21
    listed $170,000 Active 479-char remark

    Show marketing remark (479 chars)

    Family-owned since 1948, this 1907 Vale home offers a rare opportunity to own a well-preserved piece of local history. Original character throughout, including some hardwood floors and a charming 1950s-era kitchen. Features include a covered patio, metal roof, detached double garage, irrigation well with pump, and a large corner lot. Lovely cared for across generations and thoughtfully repriced to reflect current market conditions. A special home ready for its next chapter!!

ⓘ 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: $1,076 · $90/mo
• Projected year-2 tax: $1,503 · $125/mo
• Expected delta: +$427/yr (+$36/mo · 39.7%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (shaded) · 27% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 5/10 Major 7 d/yr ≥98°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 9 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,808
• − Mortgage interest: −$8,677
• − Property taxes: −$1,076
• − Insurance: −$774
• − Repairs & maintenance: −$785
• − Management: −$785
• − Depreciation: −$4,506
• Taxable loss: −$6,795
• Est. tax savings @ 24.0%: +$1,631
• After-tax cash flow: $-2,219/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: Vale SD 84
• NCES district ID: 4100014
• Math proficiency: 34% ▼ -2.00%
• Reading proficiency: 47% ▼ -12.00%
• Median HH income: $40,453
• Composite: 33.95/100
• National rank: #5329
• State rank: #15 of 58 in OR

Livability — Vale

• Score: 68/100
• State rank: #155
• US rank: #9125

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vale, OR
• Population (ZIP): 4,358

Population outlook (Malheur County) Hauer SSP2

• Today (2025): 28,275 people
• By 2030: 27,112 · -4.1%
• By 2040: 24,731 · -12.5%
• By 2050: 22,507 · -20.4%
• By 2075: 17,168 · -39.3%
• By 2100: 11,382 · -59.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 14% Two or more races 7% Native American 1%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Italian 7% Slovak 3% Lithuanian 2%
• Foreign-born: 6% · Canada
• Languages at home: 89% English-only · Spanish 10% Other Asian/Pacific 1%

Political lean MEDSL · Malheur

• 2024 margin: Solid R (+44.4) · D 26.4% · R 70.7% · Other 2.9%
• 2008→2024 swing: -4.0pp toward R · 2008: -40.3pp · 2024: -44.4pp
• All cycles: 2024: R+44.4 2020: R+41.7 2016: R+49.5 2012: R+41.7 2008: R+40.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 45.93%
• Current HPI: 357.2394
• Rent YoY: —
• Metro: —
• 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

-8.9% since first listed

3 events — show timeline

• 2026-05-06 Price Changed $154,900 IMLS
• 2025-08-31 Price Changed $160,000 IMLS
• 2025-07-21 Listed $170,000 IMLS

Property tax history

+3.0%/yr

Latest (2025): $1,076 · +2.5% YoY. Source: county tax records.