13095 S New Era Rd

Oregon City, OR 97045

$30,000D+

3 bd · 2.0 ba · 1,832 sqft · Built 1983 · Manufactured · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,604/mo
• Mortgage (P&I): −$157
• Tax + insurance: −$50
• HOA: −$0
• Vac / Maint / Mgmt: −$547
• Net cashflow: $1,850/mo
• Annual: $22,201/yr
• Cap rate: 80.30%
• Cash-on-cash: 264.30%
• DSCR: 12.76
• 1% rule: 8.68%
• Cash to close: $8,400

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $30k.
• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $30k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $900 of value loss. Plan a longer hold.
• Location reads 87/100 on livability (#12 in OR, #271 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living F.
• Canby SD 86 (town): math 36% / reading 45% proficiency, ranked #14 of 58 in OR (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Carus School (math 24% / reading 42%, grade F, #239 of 412 statewide, top 58%, 362 students, 40% FRL); Baker Prairie Middle School (math 42% / reading 54%, grade C-, #30 of 128 statewide, top 23%, 557 students, 33% FRL); Canby High School (math 75% / reading 75%, grade A-, #2 of 143 statewide, top 6%, 1,393 students, 27% FRL).
• Market conditions: Rents rising (+1.1%/yr); 408 active listings in the ZIP; solid renter incomes; 946 units permitted in Clackamas County in 2024 (188 in 5+ unit buildings).
• Clackamas County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.1% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 80.3% vs local median 2.6% in Oregon City — 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.
• This rent runs 30% of the median local income ($104k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.