71360 E Jennie Ln

Rhododendron, OR 97049

$295,000C-

3 bd · 1.0 ba · 1,768 sqft · Built 1930 · SingleFamily · Pending · 58 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,571/mo
• Mortgage (P&I): −$1,547
• Tax + insurance: −$318
• HOA: −$0
• Vac / Maint / Mgmt: −$540
• Net cashflow: $166/mo
• Annual: $1,987/yr
• Cap rate: 6.97%
• Cash-on-cash: 2.41%
• DSCR: 1.11
• 1% rule: 0.87%
• Cash to close: $82,600

Investor read

• This is a 3-bed/1.0-bath single-family listed at $295k.
• At list price, monthly cash flow is $166 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $257k (12.8% below list).
• It's been on market 58 days — a 3% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $257k (12.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Oregon Trail SD 46 (town): math 47% / reading 64% proficiency, ranked #12 of 183 in OR (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 45 active listings in the ZIP; 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.

Questions for listing agent

• It's been on market 58 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
• Built in 1930 — 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.