220 SW Ivy St

Willamina, OR 97396

$145,000B-

1 bd · 1.0 ba · 1,056 sqft · Built 1945 · SingleFamily · Active · 56 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,625/mo
• Mortgage (P&I): −$760
• Tax + insurance: −$128
• HOA: −$0
• Vac / Maint / Mgmt: −$341
• Net cashflow: $395/mo
• Annual: $4,742/yr
• Cap rate: 9.56%
• Cash-on-cash: 11.68%
• DSCR: 1.52
• 1% rule: 1.12%
• Cash to close: $40,600

Investor read

• This is a 1-bed/1.0-bath single-family listed at $145k.
• At list price, monthly cash flow is $395 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• It's been on market 56 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $141k (3.0% below list) — sets the bar for market timing.
• In year one you build about $13k of equity ($1k loan paydown + $12k appreciation (8.4% local appreciation)).
• Location reads 62/100 on livability (#247 in OR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety D+, amenities F, commute F.
• Willamina SD 30J (rural): math 13% / reading 31% proficiency, ranked #177 of 183 in OR (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Willamina Elementary School (math 8% / reading 12%, grade F, #411 of 412 statewide, top 100%, 379 students, 80% FRL); Willamina Middle School (204 students, 0% FRL); Willamina High School (308 students, 130% FRL).
• Zoned-school proficiency averages 10% at this address vs 22% district-wide (-12 pts) — the specific schools serving this property underperform the Willamina SD 30J average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 45 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 177 units permitted in Polk County in 2024 (14 in 5+ unit buildings).
• Polk County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $12k; list at $145k implies a 1142% gain — meaningful room to come down on a strong offer.
• At projected returns (8.4% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 9.6% vs local median 3.1% in Willamina — 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

• It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1945 — 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.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.