36845 Immigrant Rd

Jasper, OR 97455

$550,000C-

4 bd · 2.0 ba · 2,647 sqft · Built 1954 · MultiFamily · Pending · 27 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,789/mo
• Mortgage (P&I): −$2,884
• Tax + insurance: −$917
• HOA: −$0
• Vac / Maint / Mgmt: −$1,216
• Net cashflow: $772/mo
• Annual: $9,269/yr
• Cap rate: 7.98%
• Cash-on-cash: 6.02%
• DSCR: 1.27
• 1% rule: 1.05%
• Cash to close: $154,000

Investor read

• This is a 4-bed/2.0-bath multifamily listed at $550k. Condition is rated fair.
• At list price, monthly cash flow is $772 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $550k).
• It's been on market 27 days — a 2% lower offer ($542k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $542k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Pleasant Hill SD 1 (rural): math 37% / reading 50% proficiency, ranked #80 of 183 in OR (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pleasant Hill Elementary School (math 37% / reading 44%, grade F, #167 of 412 statewide, top 41%, 455 students, 34% FRL); Pleasant Hill High School (math 27% / reading 47%, grade F, #85 of 143 statewide, top 61%, 538 students, 33% FRL) — zoned schools at 33% FRL track the district average.
• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 17 active listings in the ZIP; 1,808 units permitted in Lane County in 2024 (972 in 5+ unit buildings).
• Lane County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1954 — 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Repairs flagged (vision-AI assessment)

• Moderate: Exterior siding — Siding shows some wear and tear.
• Minor: Landscaping — Basic landscaping with a white picket fence and some grass.