906 SW Alder St · Dundee, OR 97115

$139,000

2 bd · 2.0 ba · 1,008 sqft · SingleFamily · 10 Days on market

Built 1977

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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 +20.2/30.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• 1% rule +5.4/10.0
• Livability +3.7/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Efficient manufactured home on spacious lot in conveniently located park in Dundee. This home backs to a small green space, and enjoys good privacy from the lack of neighbors to the back. You will enjoy a large storage shed, a lengthy carport, and a large covered deck. Inside the home, you have two well-sized bedrooms and an open concept with great natural light. The Park is affordable compared to others in Yamhill County, and the location is walkable and convenient to both Portland and HWY 99 and 18.

Key facts

• New heat pump
• Large treed lot
• New kitchen

Tags

• LARGE TREED LOT
• NEW KITCHEN
• NEW BATHS
• LAMINATED FLOORS
• NEW HEAT PUMP
• FENCED YARD

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $139k.

Deal economics

• At list price, monthly cash flow is $176 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $139k).
• Cap rate 7.8% vs local median 1.6% in Dundee — 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 73/100 on livability (#100 in OR) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: schools C-, amenities F, 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.
• Market conditions: 45 active listings in the ZIP; 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 $961 of loan paydown is wiped out by about $4k 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.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $52k; list at $139k implies a 170% gain — meaningful room to come down on a strong offer.

Recommended offer $139,000

Questions for the listing agent

1. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.04% ✓
• Cap rate: 7.82%
• Cash-on-cash: 5.44%
• DSCR: 1.24
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $405,216
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1392 SW Myrtle St	0.25mi	3/1.0 (+1)	1,056 (+5%)	1mo	$425,000	$402	71
759 SE Elm St	0.50mi	3/1.0 (+1)	996 (-1%)	4mo	$407,500	$409	62
776 SE Edwards Dr	0.55mi	3/1.0 (+1)	1,008 (0%)	12mo	$337,000	$334	55

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: -7.9%
• Equity multiple: 0.71×
• Total profit: $-11,264
• Equity at exit: $20,725

10-year hold

• IRR: 1.7%
• Equity multiple: 1.12×
• Total profit: $4,752
• Equity at exit: $12,018

Cash invested: $38,920 (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 97115

• Home prices YoY: -23.6%
• Active inventory: 45
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,439 medium
• Mortgage (P&I): −$729
• Tax est. 1.5%: −$174 /mo · $2,085/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $176

Break-even live

Break-even rent $1,216

Max offer price $139,000

Occupancy floor 83%

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   days on market $139,000 Active 10 DOM
2. 2026-06-17
   days on market $139,000 Active 9 DOM
3. 2026-06-16
   days on market $139,000 Active 8 DOM
4. 2026-06-15
   days on market $139,000 Active 7 DOM
5. 2026-06-13
   days on market $139,000 Active 5 DOM
6. 2026-06-08
   remarks 496-char remark
7. 2026-06-08
   listed $139,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 10 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,272
• − Mortgage interest: −$7,786
• − Property taxes: −$2,085
• − Insurance: −$695
• − Repairs & maintenance: −$1,382
• − Management: −$1,382
• − Depreciation: −$4,044
• Taxable loss: −$102
• Est. tax savings @ 24.0%: +$24
• After-tax cash flow: $2,142/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 — Dundee

• Score: 73/100
• State rank: #100
• US rank: #5385

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dundee, OR
• Population (ZIP): 3,916

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 (69%)
• Race & ethnicity: White 69% Hispanic / Latino 26% Two or more races 16% Asian 1%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Iranian 4% Italian 4% Portuguese 3%
• Foreign-born: 14% · Canada
• Languages at home: 80% English-only · Spanish 19%

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: ▼ -108.84%
• Current HPI: 351.3391
• Rent YoY: —
• Metro: —
• 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

+85.3% since first listed

6 events — show timeline

• 2026-06-09 Listed $139,000 FSBO.com
• 2026-02-27 Sold (MLS) $51,500 RMLS
• 2026-02-12 Pending — RMLS
• 2026-02-02 Relisted — RMLS
• 2026-01-10 Price Changed $55,000 RMLS
• 2026-01-10 Listed $75,000 RMLS