15130 S Maplelane Rd #54

Oregon City, OR 97045

$109,900B-

3 bd · 2.0 ba · 1,440 sqft · Built 1974 · Other · Active · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,224/mo
• Mortgage (P&I): −$576
• Tax + insurance: −$183
• HOA: −$0
• Vac / Maint / Mgmt: −$467
• Net cashflow: $997/mo
• Annual: $11,967/yr
• Cap rate: 17.18%
• Cash-on-cash: 38.89%
• DSCR: 2.73
• 1% rule: 2.02%
• Cash to close: $30,772

Investor read

• This is a 3-bed/2.0-bath other listed at $110k.
• At list price, monthly cash flow is $997 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $760 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 87/100 on livability (#12 in OR, #271 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living F.
• Oregon City SD 62 (suburban): math 18% / reading 40% proficiency, ranked #40 of 58 in OR (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Redland Elementary School (math 24% / reading 34%, grade F, #263 of 412 statewide, top 68%, 496 students, 27% FRL); Oregon City Senior High School (math 17% / reading 52%, grade F, #94 of 143 statewide, top 70%, 1,931 students, 25% FRL).
• Market conditions: Rents rising (+1.1%/yr); 408 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 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.
• At projected returns (-3.0% appreciation + 1.1% rent growth), your $31k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 17.2% vs local median 2.6% in Oregon City — 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.

Questions for listing agent

• Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.