2901 E 2nd St #109 · Newberg, OR 97132

$89,000

2 bd · 2.5 ba · 1,440 sqft · Manufactured public records · 121 Days on market

Built 1976 Est $120k · 26% under ↓ 23% since listing

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Schools +3.4/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

PRICE JUST REDUCED! This Beautiful Home in 55+ Community is located in the heart of Wine Country only 30 minutes from Portland and Salem. Also close to Shopping, Restaurants and Hospital. With Space rent of only $675 per month. This 1440 sq. ft. home is very affordable and ready for a new owner. You will enjoy all this home has to offer. Home includes a nice carport with attached tool shed, 2 large bedrooms and 2 bathrooms along with a living room and family room and Dining room. The kitchen provides lots of counter space and storage. Trash, Water and Sewer are all included in the monthly space rent. Buyers must be 55+ and approved by management. This home is close to some of the most amazi

Key facts

• Close to restaurants
• Storage
• Attached tool shed

Tags

• CARPORT
• ATTACHED TOOL SHED
• COUNTER SPACE
• STORAGE
• CLOSE TO SHOPPING
• CLOSE TO RESTAURANTS

🏷️ Possibly a rental listed for sale. The $89,000 price doesn't fit this home's estimated sale value (~$119,520) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath manufactured listed at $89k.

Deal economics

• 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 $89k).
• Recommended offer: $78k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.7% vs local median 2.4% in Newberg — 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 76/100 on livability (#77 in OR, #3,395 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, employment A+, housing A+; Watch: cost of living D, commute F.
• Newberg SD 29J (town): math 30% / reading 45% proficiency, ranked #17 of 58 in OR (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mabel Rush Elementary School (math 44% / reading 44%, grade F, #143 of 412 statewide, top 38%, 389 students, 38% FRL); Mountain View Middle School (math 29% / reading 44%, grade F, #54 of 128 statewide, top 42%, 498 students, 99% FRL); Newberg Senior High School (math 24% / reading 74%, grade D, #50 of 143 statewide, top 37%, 1,389 students, 31% FRL) — zoned schools average 56% FRL vs 36% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 230 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 282 units permitted in Yamhill County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $615 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Yamhill County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 0.6% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 121 days — a 12% lower offer ($78k) is reasonable based on typical stale-listing flexibility.

Recommended offer $78,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 121 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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.
7. 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.
8. 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: 2.20% ✓
• Cap rate: 19.74%
• Cash-on-cash: 48.01%
• DSCR: 3.14
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $119,520
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2901 E 2nd St #109	0.00mi	2/2.0	1,440 (0%)	1mo	$87,800	$61	97
2901 E 2nd St #77	0.00mi	2/2.0	1,440 (0%)	7mo	$95,000	$66	92
2902 E 2nd St #98	0.09mi	3/3.0 (+1)	1,440 (0%)	3mo	$119,000	$83	87
2901 E 2nd St #117	0.00mi	3/2.0 (+1)	1,400 (-3%)	4mo	$123,000	$88	85
2902 E 2nd St #110	0.04mi	3/2.0 (+1)	1,404 (-2%)	4mo	$85,000	$61	84
2902 E 2nd St #67	0.04mi	3/2.0 (+1)	1,344 (-7%)	4mo	$85,000	$63	76
2901 E 2nd St #104	0.00mi	2/3.0	1,536 (+7%)	13mo	$100,000	$65	76
1000 S Mckern Ct #68	0.34mi	3/2.0 (+1)	1,493 (+4%)	2mo	$189,900	$127	70
1000 S Mckern Ct #58	0.34mi	3/2.0 (+1)	1,456 (+1%)	9mo	$139,990	$96	68
1000 S Mckern Ct #45	0.34mi	3/2.0 (+1)	1,404 (-2%)	6mo	$121,000	$86	68
1000 S Mckern Ct #10	0.34mi	3/2.0 (+1)	1,296 (-10%)	0mo	$115,000	$89	61
1500 S Sandoz Rd #28	0.70mi	3/2.0 (+1)	1,512 (+5%)	6mo	$99,900	$66	47

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 · 0.55% rent growth · sell at horizon

5-year hold

• IRR: 42.8%
• Equity multiple: 2.78×
• Total profit: $44,357
• Equity at exit: $13,270

10-year hold

• IRR: 47.8%
• Equity multiple: 5.09×
• Total profit: $101,935
• Equity at exit: $7,695

Cash invested: $24,920 (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 97132

• Rents YoY: 0.6%
• Active inventory: 230
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,959 high
• Mortgage (P&I): −$467
• Tax from tax record: −$47 /mo · $565/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $997

Break-even live

Break-even rent $697

Max offer price $89,000

Occupancy floor 44%

Sensitivity live

Price	-10% $1,047	-5% $1,022	+0% $997	+5% $972	+10% $947
Rent	-10% $842	-5% $920	+0% $997	+5% $1,074	+10% $1,152
Rate	-1.0pp $1,042	-0.5pp $1,020	base $997	+0.5pp $974	+1.0pp $951

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2501 E 2nd St #12 Newberg, OR	2.0	2.0	910	$1,500	$1.65	24d	1	0.36mi
506 S Corinne Dr Newberg, OR	3.0	2.5	1390	$2,350	$1.69	18d	1	0.40mi
2203 E Sam Parrett Dr Newberg, OR	3.0	2.5	1386	$2,399	$1.73	24d	1	0.48mi
480 S Lair Ln Newberg, OR	3.0	2.5	1345	$2,395	$1.78	3d	1	0.50mi
401 S Everest St Newberg, OR	2.0	1.0	950	$1,625	$1.71	2d	1	0.69mi
611 Sitka Ave Unit 03 Newberg, OR	2.0	1.5	900	$1,550	$1.72	44d	1	0.72mi
1536 E 3rd St Unit 20 Newberg, OR	3.0	1.0	1000	$1,725	$1.73	44d	1	0.73mi
2400 E Haworth Ave Newberg, OR	1.0–3.0	1.0–1.5	1025	$1,638	$1.60	2d	2	0.76mi
1009 N Hulet Ave Newberg, OR	3.0	2.0	1412	$2,250	$1.59	8d	1	0.82mi
601 Wynooski St Unit 201 Newberg, OR	2.0	2.0	1122	$1,850	$1.65	44d	1	0.82mi
601 Wynooski St Unit 100 Newberg, OR	2.0	2.0	1064	$1,745	$1.64	15d	1	0.82mi
1401 N Springbrook Rd Newberg, OR	2.0	1.0	960	$1,550	$1.61	17d	4	0.88mi
1401 N Springbrook Rd Apt 128 Newberg, OR	2.0	1.0	960	$1,500	$1.56	2d	1	0.88mi
2507 Hawthorne Dr Newberg, OR	2.0	1.0	950	$1,700	$1.79	2d	1	0.89mi
1401 N Springbrook Rd Unit 220 Newberg, OR	2.0	1.0	960	$1,600	$1.67	24d	1	0.90mi
4001 E Jory St Newberg, OR	1.0–3.0	1.0–2.0	941	$1,950	$2.07	2d	1	1.07mi
1909 N Springbrook Rd Newberg, OR	3.0	2.0	1687	$2,550	$1.51	24d	1	1.12mi
1109 S River St Newberg, OR	2.0	2.0	969	$1,812	$1.87	2d	3	1.19mi
4460 E Jory St Unit 114 Newberg, OR	2.0	2.0	909	$1,899	$2.09	11d	1	1.21mi
905 S College St Unit B Newberg, OR	3.0	1.5	1248	$1,995	$1.60	24d	1	1.28mi
606 E 9th St Newberg, OR	2.0	1.0–1.5	920	$1,550	$1.68	21d	2	1.30mi
606 E Ninth St Apt 34 Newberg, OR	2.0	1.0	920	$1,550	$1.68	5d	1	1.30mi
1200 N Meridian St Newberg, OR	2.0	1.5	950	$1,595	$1.68	44d	1	1.32mi
611 S Blaine St Newberg, OR	1.0–2.0	1.0–2.0	860	$1,645	$1.91	44d	2	1.46mi
912 Charles St Apt B Newberg, OR	2.0	1.0	1087	$1,750	$1.61	44d	1	1.48mi

Listing history 4 events

1. 2026-04-02
   status Pending
2. 2026-03-24
   price $89,000
3. 2026-02-13
   price $98,000
4. 2025-12-01
   listed $115,000 Active

ⓘ 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: $565 · $47/mo
• Projected year-2 tax: $863 · $72/mo
• Expected delta: +$298/yr (+$25/mo · 52.7%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 11 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,514
• − Mortgage interest: −$4,985
• − Property taxes: −$565
• − Insurance: −$445
• − Repairs & maintenance: −$1,881
• − Management: −$1,881
• − Depreciation: −$2,589
• Taxable income: $11,167
• Est. tax owed @ 24.0%: −$2,680
• After-tax cash flow: $9,285/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: Newberg SD 29J
• NCES district ID: 4108720
• Math proficiency: 30% ▼ -13.00%
• Reading proficiency: 45% ▼ -12.00%
• Median HH income: $62,898
• Composite: 33.6/100
• National rank: #5414
• State rank: #17 of 58 in OR

Livability — Newberg

• Score: 76/100
• State rank: #77
• US rank: #3395

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newberg, OR
• County: Yamhill County · 71,150 people
• City population: 32,486
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 32,486
• Household income: $96,493
• Rent vs Own: 35.8% rent · 64.2% own
• Severe rent burden: 1311.0

Population outlook (Yamhill County) Hauer SSP2

• Today (2025): 109,295 people
• By 2030: 112,060 · +2.5%
• By 2040: 115,975 · +6.1%
• By 2050: 118,155 · +8.1%
• By 2075: 120,968 · +10.7%
• By 2100: 116,163 · +6.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 14% Two or more races 12% Asian 3%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Italian 5% Portuguese 3% Slovak 3%
• Foreign-born: 7% · Canada, China
• Languages at home: 89% English-only · Spanish 8% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Yamhill

• 2024 margin: Lean R (+6.1) · D 45.3% · R 51.4% · Other 3.3%
• 2008→2024 swing: -4.8pp toward R · 2008: -1.4pp · 2024: -6.1pp
• All cycles: 2024: R+6.1 2020: R+4.0 2016: R+8.8 2012: R+6.7 2008: R+1.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -265.11%
• Current HPI: 320.8972
• Rent YoY: ▲ 0.55%
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• 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

-22.6% since first listed

4 events — show timeline

• 2026-04-02 Pending — RMLS
• 2026-03-24 Price Changed $89,000 RMLS
• 2026-02-13 Price Changed $98,000 RMLS
• 2025-12-01 Listed $115,000 RMLS

Property tax history

+2.5%/yr

Latest (2025): $565 · +4.0% YoY. Source: county tax records.