1503 R Ave · La Grande, OR 97850

$130,000

2 bd · 1.0 ba · 962 sqft · SingleFamily public records · 308 Days on market

Built 1910 6,098 sqft lot $135/sqft · 39% below area Est $213k · 39% under

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Why this score? — see what drove the C- 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 +17.2/30.0
• ARV discount +15.0/15.0
• DSCR +5.4/10.0
• 1% rule +3.9/10.0
• Livability +3.8/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Price Reduced! Now offered at $130,000! Looking for a project? This is it! Located in a General Commercial zoned area, provides with you with options of use. Corner lot with large yard, storage shed and alley access. Just a few blocks from La Grande's local shopping area for easy access to downtown. This home has lots of potential with a little elbow grease. Bring your ideas and make it a reality. Contact City of La Grande for usage options. Cash Only Sale. Call to schedule your showing today!

Key facts

• Alley access
• Large yard
• Storage shed

Tags

• CORNER LOT
• LARGE YARD
• STORAGE SHED
• ALLEY ACCESS
• EASY ACCESS TO DOWNTOWN

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $94 ($1k/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 $115k (11.3% below list).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 2.9% in La Grande — 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 (#74 in OR, #3,311 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, commute F, employment F.
• La Grande SD 1 (town): math 24% / reading 50% proficiency, ranked #23 of 58 in OR (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 126 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 38 units permitted in Union County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Union County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 308 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 27y ago; this cycle's ask has dropped $25k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $38k; list at $130k implies a 242% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $114,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 308 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 1910 — 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. 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.
6. 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.
7. 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: 0.89% ✗
• Cap rate: 7.16%
• Cash-on-cash: 3.09%
• DSCR: 1.14
• GRM: 9.4

CMA / ARV

• ARV (median comp): $212,972
• List price: $130,000
• Delta: -38.96%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1527 Madison Ave	0.13mi	2/1.0	926 (-4%)	8mo	$175,000	$189	81
1605 Madison Ave	0.16mi	2/1.0	983 (+2%)	13mo	$130,000	$132	78
1908 Adams Ave	0.46mi	2/1.0	1,018 (+6%)	2mo	$155,000	$152	67
1609 6th St	0.37mi	3/2.0 (+1)	1,042 (+8%)	1mo	$270,000	$259	59
2608 N Birch St	0.60mi	2/1.0	1,044 (+8%)	8mo	$289,000	$277	51
1804 Z Ave	0.57mi	1/1.0 (-1)	1,054 (+10%)	3mo	$216,000	$205	50
1205 Y Ave	0.56mi	2/1.0	1,084 (+13%)	4mo	$211,000	$195	49
1406 N Willow St	0.47mi	3/1.0 (+1)	1,092 (+14%)	4mo	$245,000	$224	47
2114 Cedar St	0.73mi	2/1.0	1,028 (+7%)	11mo	$135,000	$131	45
1214 W Ave	0.43mi	3/2.0 (+1)	1,056 (+10%)	16mo	$239,000	$226	42
702 Main Ave	0.63mi	2/2.0	1,086 (+13%)	8mo	$249,000	$229	38
902 Y Ave	0.67mi	3/2.0 (+1)	1,036 (+8%)	12mo	$282,360	$273	37

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -11.5%
• Equity multiple: 0.58×
• Total profit: $-15,125
• Equity at exit: $19,383

10-year hold

• IRR: -2.3%
• Equity multiple: 0.85×
• Total profit: $-5,612
• Equity at exit: $11,240

Cash invested: $36,400 (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 97850

• Active inventory: 126
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,154 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$82 /mo · $981/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $94

Break-even live

Break-even rent $1,035

Max offer price $130,000

Occupancy floor 87%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2001 N Fir St La Grande, OR	2.0	1.0	540	$1,200	$2.22	43d	1	0.14mi
1208 Adams Ave La Grande, OR	2.0	1.0	740	$1,025	$1.39	1d	3	0.30mi
206 Chestnut St La Grande, OR	1.0–2.0	1.0	566	$1,175	$2.07	3d	2	0.37mi
2000 Gekeler Ln La Grande, OR	2.0	1.0	858	$1,150	$1.34	1d	2	1.23mi

Listing history 24 events

1. 2026-06-19
   days on market $130,000 Active 308 DOM
2. 2026-06-18
   days on market $130,000 Active 307 DOM
3. 2026-06-17
   days on market $130,000 Active 306 DOM
4. 2026-06-16
   days on market $130,000 Active 305 DOM
5. 2026-06-15
   days on market $130,000 Active 304 DOM
6. 2026-06-14
   days on market $130,000 Active 302 DOM
7. 2026-06-12
   days on market $130,000 Active 301 DOM
8. 2026-06-09
   days on market $130,000 Active 298 DOM
9. 2026-06-08
   days on market $130,000 Active 297 DOM
10. 2026-06-07
    days on market $130,000 Active 296 DOM
11. 2026-06-07
    days on market $130,000 Active 295 DOM
12. 2026-06-04
    days on market $130,000 Active 292 DOM
13. 2026-06-02
    days on market $130,000 Active 291 DOM
14. 2026-06-01
    days on market $130,000 Active 290 DOM
15. 2026-05-31
    days on market $130,000 Active 289 DOM
16. 2026-05-31
    days on market $130,000 Active 288 DOM
17. 2026-05-11
    price $130,000 498-char remark

    Show marketing remark (498 chars)

    Price Reduced! Now offered at $130,000! Looking for a project? This is it! Located in a General Commercial zoned area, provides with you with options of use. Corner lot with large yard, storage shed and alley access. Just a few blocks from La Grande's local shopping area for easy access to downtown. This home has lots of potential with a little elbow grease. Bring your ideas and make it a reality. Contact City of La Grande for usage options. Cash Only Sale. Call to schedule your showing today!

18. 2026-02-05
    price $140,000 498-char remark

    Show marketing remark (498 chars)

    Price Reduced! Now offered at $130,000! Looking for a project? This is it! Located in a General Commercial zoned area, provides with you with options of use. Corner lot with large yard, storage shed and alley access. Just a few blocks from La Grande's local shopping area for easy access to downtown. This home has lots of potential with a little elbow grease. Bring your ideas and make it a reality. Contact City of La Grande for usage options. Cash Only Sale. Call to schedule your showing today!

19. 2025-09-22
    price $149,000 498-char remark

    Show marketing remark (498 chars)

    Price Reduced! Now offered at $130,000! Looking for a project? This is it! Located in a General Commercial zoned area, provides with you with options of use. Corner lot with large yard, storage shed and alley access. Just a few blocks from La Grande's local shopping area for easy access to downtown. This home has lots of potential with a little elbow grease. Bring your ideas and make it a reality. Contact City of La Grande for usage options. Cash Only Sale. Call to schedule your showing today!

20. 2025-08-15
    listed $154,900 Active 498-char remark

    Show marketing remark (498 chars)

    Price Reduced! Now offered at $130,000! Looking for a project? This is it! Located in a General Commercial zoned area, provides with you with options of use. Corner lot with large yard, storage shed and alley access. Just a few blocks from La Grande's local shopping area for easy access to downtown. This home has lots of potential with a little elbow grease. Bring your ideas and make it a reality. Contact City of La Grande for usage options. Cash Only Sale. Call to schedule your showing today!

21. 2005-03-22
    soldstatus $38,000 287-char remark

    Show marketing remark (287 chars)

    LR. HUD owned. Sold as is. Uninsured. Bids due by 11;59PM on 12/21/04 or daily thereafter. See www.goldenfeather. com for electronic bid insturctions and forms HUD case #432-001405 LBP addendum is required Not eligible for FHA financing. Zoned commerical economic life < 30 years

22. 2004-12-17
    listed $38,000 287-char remark

    Show marketing remark (287 chars)

    LR. HUD owned. Sold as is. Uninsured. Bids due by 11;59PM on 12/21/04 or daily thereafter. See www.goldenfeather. com for electronic bid insturctions and forms HUD case #432-001405 LBP addendum is required Not eligible for FHA financing. Zoned commerical economic life < 30 years

23. 1999-08-18
    soldstatus $49,900
24. 1999-06-03
    listed $49,900

ⓘ 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: $981 · $82/mo
• Projected year-2 tax: $1,261 · $105/mo
• Expected delta: +$280/yr (+$23/mo · 28.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (shaded) · 18% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 3/10 Moderate 8 d/yr ≥94°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 8 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,844
• − Mortgage interest: −$7,282
• − Property taxes: −$981
• − Insurance: −$650
• − Repairs & maintenance: −$1,108
• − Management: −$1,108
• − Depreciation: −$3,782
• Taxable loss: −$1,066
• Est. tax savings @ 24.0%: +$256
• After-tax cash flow: $1,381/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: La Grande SD 1
• NCES district ID: 4107200
• Math proficiency: 24% ▼ -16.00%
• Reading proficiency: 50% ▼ -5.00%
• Median HH income: $41,706
• Composite: 31.11/100
• National rank: #6070
• State rank: #23 of 58 in OR

Livability — La Grande

• Score: 76/100
• State rank: #74
• US rank: #3311

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: La Grande, OR
• County: Union County · 16,903 people
• City population: 16,903
• Metro: La Grande, OR
• Population (ZIP): 16,903
• Household income: $63,421
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 597.0

Population outlook (Union County) Hauer SSP2

• Today (2025): 25,207 people
• By 2030: 24,794 · -1.6%
• By 2040: 23,658 · -6.1%
• By 2050: 22,897 · -9.2%
• By 2075: 20,885 · -17.1%
• By 2100: 17,841 · -29.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 6% Two or more races 5% Pacific Islander 1% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 4% Portuguese 3% Slovak 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 94% English-only · Spanish 3% Other Asian/Pacific 1% Chinese 1%

Political lean MEDSL · Union

• 2024 margin: Solid R (+40.6) · D 28.1% · R 68.7% · Other 3.1%
• 2008→2024 swing: -17.0pp toward R · 2008: -23.6pp · 2024: -40.6pp
• All cycles: 2024: R+40.6 2020: R+40.4 2016: R+41.4 2012: R+30.8 2008: R+23.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -144.50%
• Current HPI: 213.8093
• Rent YoY: —
• Metro: La Grande, OR
• 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

+160.5% since first listed

8 events — show timeline

• 2026-05-11 Price Changed $130,000 RMLS
• 2026-02-05 Price Changed $140,000 RMLS
• 2025-09-22 Price Changed $149,000 RMLS
• 2025-08-15 Listed $154,900 RMLS
• 2005-03-22 Sold (MLS) $38,000 RMLS
• 2004-12-17 Listed $38,000 RMLS
• 1999-08-18 Sold (MLS) $49,900 RMLS
• 1999-06-03 Listed $49,900 RMLS

Property tax history

+3.9%/yr

Latest (2025): $981 · +3.5% YoY. Source: county tax records.