47521 School St

Oakridge, OR 97463

$100,000D+

1 bd · 1.0 ba · 672 sqft · Built 1972 · Manufactured · Active · 192 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $856/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$167
• HOA: −$0
• Vac / Maint / Mgmt: −$180
• Net cashflow: $-15/mo
• Annual: $-178/yr
• Cap rate: 6.12%
• Cash-on-cash: -0.64%
• DSCR: 0.97
• 1% rule: 0.86%
• Cash to close: $28,000

Investor read

• This is a 1-bed/1.0-bath manufactured listed at $100k.
• At list price, monthly cash flow is $-15 ($-178/yr) — negative.
• To cash-flow at today's rent, offer at most $98k (2.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $86k (14.4% below list).
• It's been on market 192 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $86k (14.4% below list) — sets the bar for 1% rule.
• In year one you build about $11k of equity ($691 loan paydown + $10k appreciation (10.0% local appreciation)).
• Location reads 62/100 on livability (#252 in OR) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A-; Watch: amenities F, commute F, employment F.
• Oakridge SD 76 (town): math 22% / reading 36% proficiency, ranked #163 of 183 in OR (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Oakridge Elementary School (math 30% / reading 34%, grade F, #242 of 412 statewide, top 59%, 278 students, 83% FRL); Oakridge Junior High School (math 5% / reading 10%, grade F, #128 of 128 statewide, top 100%, 87 students, 226% FRL); Oakridge High School (148 students, 0% FRL) — zoned schools average 103% FRL vs 68% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 62 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 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.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.1% vs local median 3.1% in Oakridge — 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

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 192 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
• Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.