545 Warren St S #12 · Monmouth, OR 97361

$62,500

2 bd · 2.0 ba · 938 sqft · Manufactured · 315 Days on market

Built 1979 Good condition $67/sqft · 18% above area Est $53k · 18% over ↓ 17% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +4.0/5.0
• Livability +3.6/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Seller willing to offer concessions, ask for details! UPDATED and Move-in-READY 2-bedroom, 1.5-bath home located in a quiet ALL-ages park. Fully renovated in 2022 with modern flooring, lighting, plumbing, windows and water heater. Beautifully updated kitchen feats SS appliances, a 5-burner cooktop, two-tone cabinets and a bold tile backsplash. Low-maintenance landscaping with southern shade and plenty of space for a garden. Convenient to downtown Monmouth, dining, shopping, and WOU. Act now!

Key facts

• 2-toned cabinets
• 5-burner cooktop
• Updated in 2022

Tags

• UPDATED IN 2022
• STAINLESS STEEL APPLIANCES
• 5-BURNER COOKTOP
• 2-TONED CABINETS
• TILE BACKSPLASH
• LOW MAINTENANCE LANDSCAPING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $62k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $730 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $62k).
• Recommended offer: $55k (12.0% below list) — sets the bar for market timing.
• Cap rate 20.3% vs local median 2.6% in Monmouth — 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 72/100 on livability (#108 in OR) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, housing B+; Watch: schools C-, health & safety D+, amenities D.
• Central SD 13J (town): math 26% / reading 41% proficiency, ranked #149 of 183 in OR (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 67 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; 177 units permitted in Polk County in 2024 (14 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $432 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Polk County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 315 days — a 12% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 4y ago; this cycle's ask has dropped $12k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $55,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 315 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 1979 — 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: 2.35% ✓
• Cap rate: 20.31%
• Cash-on-cash: 50.06%
• DSCR: 3.23
• GRM: 3.5

CMA / ARV

• ARV (median comp): $53,011
• List price: $62,500
• Delta: 17.90%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
545 Warren St S #7	0.00mi	2/1.0	798 (-15%)	7mo	$55,000	$69	66

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: 47.8%
• Equity multiple: 3.08×
• Total profit: $36,393
• Equity at exit: $9,319

10-year hold

• IRR: 53.4%
• Equity multiple: 6.24×
• Total profit: $91,654
• Equity at exit: $5,404

Cash invested: $17,500 (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 97361

• Home prices YoY: -34.5%
• Active inventory: 67
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,471 high
• Mortgage (P&I): −$328
• Tax est. 1.5%: −$78 /mo · $938/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $730

Break-even live

Break-even rent $547

Max offer price $62,500

Occupancy floor 45%

Sensitivity live

Price	-10% $773	-5% $752	+0% $730	+5% $708	+10% $687
Rent	-10% $614	-5% $672	+0% $730	+5% $788	+10% $846
Rate	-1.0pp $762	-0.5pp $746	base $730	+0.5pp $714	+1.0pp $697

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: $15,625
• Closing costs: $1,875
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
479 S Monmouth Ave Unit 479-18 Monmouth, OR	2.0	1.5	996	$1,545	$1.55	24d	1	0.07mi
302 S Monmouth Ave Unit 302-A Monmouth, OR	1.0	1.0	600	$1,095	$1.82	44d	1	0.23mi
219 S Monmouth Ave Unit 212 Monmouth, OR	2.0	1.0	980	$1,499	$1.53	44d	1	0.25mi
130 Main St W Monmouth, OR	2.0	1.0	750	$1,499	$2.00	15d	1	0.33mi
242 Jackson St E Unit B Monmouth, OR	2.0	1.0	877	$1,650	$1.88	15d	1	0.41mi
163 Catron St N Unit 163-02 Monmouth, OR	2.0	1.0	760	$1,395	$1.84	44d	1	0.43mi
475 Jackson St W Monmouth, OR	1.0	1.0	700	$1,050	$1.50	44d	1	0.49mi
739 Jackson St W Unit 3 Monmouth, OR	2.0	2.0	850	$1,450	$1.71	44d	1	0.57mi
1021 Main St E Unit 1021-1 Monmouth, OR	2.0	1.0	800	$1,450	$1.81	44d	1	0.61mi
501 Catron St N Monmouth, OR	2.0	2.0	1090	$1,450	$1.33	15d	1	0.67mi
537 Catron St N Unit 537-05 Monmouth, OR	2.0	2.0	1090	$1,400	$1.28	44d	1	0.71mi
523 Catron St N Unit 523-05 Monmouth, OR	2.0	2.0	1090	$1,450	$1.33	24d	1	0.72mi
523 Catron St N Unit 523-11 Monmouth, OR	2.0	2.0	1090	$1,400	$1.28	44d	1	0.72mi
314 Monmouth Independence Hwy Monmouth, OR	3.0	1.0	1100	$1,795	$1.63	44d	1	0.84mi
336 Whitesell St W Unit 336-7 Monmouth, OR	2.0	2.0	800	$1,400	$1.75	24d	1	0.97mi
308 Hoxton Ave Unit 2bd/2ba_880sq Monmouth, OR	2.0	2.0	880	$1,720	$1.95	15d	1	0.98mi
304 Hoxton Ave Unit 2bd/2ba_771sq Monmouth, OR	2.0	2.0	771	$1,500	$1.95	15d	1	0.98mi
300 Hoxton Ave Monmouth, OR	2.0–3.0	2.0	960	$1,500	$1.56	15d	9	0.99mi
1630 Monmouth St Independence, OR	2.0	1.5	900	$1,375	$1.53	15d	1	1.21mi
1630 Monmouth St Unit 1630-20 Independence, OR	2.0	1.5	900	$1,375	$1.53	24d	1	1.21mi
1408 Falcon Loop Unit 1408 Independence, OR	3.0	2.0	1056	$1,795	$1.70	15d	1	1.46mi

Listing history 33 events

1. 2026-06-18
   days on market $62,500 Active 315 DOM
2. 2026-06-17
   days on market $62,500 Active 314 DOM
3. 2026-06-16
   days on market $62,500 Active 313 DOM
4. 2026-06-15
   days on market $62,500 Active 312 DOM
5. 2026-06-14
   days on market $62,500 Active 310 DOM
6. 2026-06-10
   days on market $62,500 Active 307 DOM
7. 2026-06-09
   days on market $62,500 Active 306 DOM
8. 2026-06-08
   days on market $62,500 Active 305 DOM
9. 2026-06-07
   days on market $62,500 Active 304 DOM
10. 2026-06-05
    days on market $62,500 Active 301 DOM
11. 2026-06-03
    days on market $62,500 Active 300 DOM
12. 2026-06-02
    days on market $62,500 Active 299 DOM
13. 2026-06-01
    days on market $62,500 Active 298 DOM
14. 2026-05-31
    days on market $62,500 Active 297 DOM
15. 2026-05-30
    days on market $62,500 Active 296 DOM
16. 2026-04-26
    status Active 496-char remark

    Show marketing remark (496 chars)

    Seller willing to offer concessions, ask for details! UPDATED and Move-in-READY 2-bedroom, 1.5-bath home located in a quiet ALL-ages park. Fully renovated in 2022 with modern flooring, lighting, plumbing, windows and water heater. Beautifully updated kitchen feats SS appliances, a 5-burner cooktop, two-tone cabinets and a bold tile backsplash. Low-maintenance landscaping with southern shade and plenty of space for a garden. Convenient to downtown Monmouth, dining, shopping, and WOU. Act now!

17. 2026-04-26
    status Active 496-char remark

    Show marketing remark (496 chars)

    Seller willing to offer concessions, ask for details! UPDATED and Move-in-READY 2-bedroom, 1.5-bath home located in a quiet ALL-ages park. Fully renovated in 2022 with modern flooring, lighting, plumbing, windows and water heater. Beautifully updated kitchen feats SS appliances, a 5-burner cooktop, two-tone cabinets and a bold tile backsplash. Low-maintenance landscaping with southern shade and plenty of space for a garden. Convenient to downtown Monmouth, dining, shopping, and WOU. Act now!

18. 2026-04-21
    status Pending 496-char remark

    Show marketing remark (496 chars)

    Seller willing to offer concessions, ask for details! UPDATED and Move-in-READY 2-bedroom, 1.5-bath home located in a quiet ALL-ages park. Fully renovated in 2022 with modern flooring, lighting, plumbing, windows and water heater. Beautifully updated kitchen feats SS appliances, a 5-burner cooktop, two-tone cabinets and a bold tile backsplash. Low-maintenance landscaping with southern shade and plenty of space for a garden. Convenient to downtown Monmouth, dining, shopping, and WOU. Act now!

19. 2026-04-21
    status Pending 496-char remark

    Show marketing remark (496 chars)

    Seller willing to offer concessions, ask for details! UPDATED and Move-in-READY 2-bedroom, 1.5-bath home located in a quiet ALL-ages park. Fully renovated in 2022 with modern flooring, lighting, plumbing, windows and water heater. Beautifully updated kitchen feats SS appliances, a 5-burner cooktop, two-tone cabinets and a bold tile backsplash. Low-maintenance landscaping with southern shade and plenty of space for a garden. Convenient to downtown Monmouth, dining, shopping, and WOU. Act now!

20. 2026-03-24
    price $62,500 496-char remark

    Show marketing remark (496 chars)

    Seller willing to offer concessions, ask for details! UPDATED and Move-in-READY 2-bedroom, 1.5-bath home located in a quiet ALL-ages park. Fully renovated in 2022 with modern flooring, lighting, plumbing, windows and water heater. Beautifully updated kitchen feats SS appliances, a 5-burner cooktop, two-tone cabinets and a bold tile backsplash. Low-maintenance landscaping with southern shade and plenty of space for a garden. Convenient to downtown Monmouth, dining, shopping, and WOU. Act now!

21. 2026-03-23
    price $62,500 496-char remark

    Show marketing remark (496 chars)

    Seller willing to offer concessions, ask for details! UPDATED and Move-in-READY 2-bedroom, 1.5-bath home located in a quiet ALL-ages park. Fully renovated in 2022 with modern flooring, lighting, plumbing, windows and water heater. Beautifully updated kitchen feats SS appliances, a 5-burner cooktop, two-tone cabinets and a bold tile backsplash. Low-maintenance landscaping with southern shade and plenty of space for a garden. Convenient to downtown Monmouth, dining, shopping, and WOU. Act now!

22. 2025-09-30
    price $65,000 496-char remark

    Show marketing remark (496 chars)

    Seller willing to offer concessions, ask for details! UPDATED and Move-in-READY 2-bedroom, 1.5-bath home located in a quiet ALL-ages park. Fully renovated in 2022 with modern flooring, lighting, plumbing, windows and water heater. Beautifully updated kitchen feats SS appliances, a 5-burner cooktop, two-tone cabinets and a bold tile backsplash. Low-maintenance landscaping with southern shade and plenty of space for a garden. Convenient to downtown Monmouth, dining, shopping, and WOU. Act now!

23. 2025-09-30
    price $65,000 496-char remark

    Show marketing remark (496 chars)

    Seller willing to offer concessions, ask for details! UPDATED and Move-in-READY 2-bedroom, 1.5-bath home located in a quiet ALL-ages park. Fully renovated in 2022 with modern flooring, lighting, plumbing, windows and water heater. Beautifully updated kitchen feats SS appliances, a 5-burner cooktop, two-tone cabinets and a bold tile backsplash. Low-maintenance landscaping with southern shade and plenty of space for a garden. Convenient to downtown Monmouth, dining, shopping, and WOU. Act now!

24. 2025-08-22
    price $72,000 496-char remark

    Show marketing remark (496 chars)

    Seller willing to offer concessions, ask for details! UPDATED and Move-in-READY 2-bedroom, 1.5-bath home located in a quiet ALL-ages park. Fully renovated in 2022 with modern flooring, lighting, plumbing, windows and water heater. Beautifully updated kitchen feats SS appliances, a 5-burner cooktop, two-tone cabinets and a bold tile backsplash. Low-maintenance landscaping with southern shade and plenty of space for a garden. Convenient to downtown Monmouth, dining, shopping, and WOU. Act now!

25. 2025-08-21
    price $72,000 496-char remark

    Show marketing remark (496 chars)

    Seller willing to offer concessions, ask for details! UPDATED and Move-in-READY 2-bedroom, 1.5-bath home located in a quiet ALL-ages park. Fully renovated in 2022 with modern flooring, lighting, plumbing, windows and water heater. Beautifully updated kitchen feats SS appliances, a 5-burner cooktop, two-tone cabinets and a bold tile backsplash. Low-maintenance landscaping with southern shade and plenty of space for a garden. Convenient to downtown Monmouth, dining, shopping, and WOU. Act now!

26. 2025-08-01
    listed $74,900 Active 496-char remark

    Show marketing remark (496 chars)

    Seller willing to offer concessions, ask for details! UPDATED and Move-in-READY 2-bedroom, 1.5-bath home located in a quiet ALL-ages park. Fully renovated in 2022 with modern flooring, lighting, plumbing, windows and water heater. Beautifully updated kitchen feats SS appliances, a 5-burner cooktop, two-tone cabinets and a bold tile backsplash. Low-maintenance landscaping with southern shade and plenty of space for a garden. Convenient to downtown Monmouth, dining, shopping, and WOU. Act now!

27. 2025-08-01
    listed $74,900 Active 496-char remark

    Show marketing remark (496 chars)

    Seller willing to offer concessions, ask for details! UPDATED and Move-in-READY 2-bedroom, 1.5-bath home located in a quiet ALL-ages park. Fully renovated in 2022 with modern flooring, lighting, plumbing, windows and water heater. Beautifully updated kitchen feats SS appliances, a 5-burner cooktop, two-tone cabinets and a bold tile backsplash. Low-maintenance landscaping with southern shade and plenty of space for a garden. Convenient to downtown Monmouth, dining, shopping, and WOU. Act now!

28. 2022-09-02
    soldstatus $69,000 Sold
29. 2022-07-07
    historical Active under Contract
30. 2022-06-09
    price $69,000
31. 2022-05-23
    status Active
32. 2022-05-12
    historical Active under Contract
33. 2022-05-10
    listed $75,000 Active

ⓘ 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 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥92°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 11 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,650
• − Mortgage interest: −$3,501
• − Property taxes: −$938
• − Insurance: −$312
• − Repairs & maintenance: −$1,412
• − Management: −$1,412
• − Depreciation: −$1,818
• Taxable income: $8,257
• Est. tax owed @ 24.0%: −$1,982
• After-tax cash flow: $6,779/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This fully renovated 2-bedroom, 1.5-bath home is move-in ready with modern updates and a low-maintenance exterior.

Value-add opportunities

• Both Paint exterior — Fresh paint enhances curb appeal and value
• Both Landscaping — Low-maintenance landscaping improves curb appeal and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Fresh paint enhances curb appeal and value ↑
• Both Landscaping — Low-maintenance landscaping improves curb appeal and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Central SD 13J
• NCES district ID: 4102840
• Math proficiency: 26% ▼ -3.00%
• Reading proficiency: 41% ▼ -2.00%
• Median HH income: $42,374
• Composite: 31.04/100
• National rank: #11310
• State rank: #149 of 183 in OR

Livability — Monmouth

• Score: 72/100
• State rank: #108
• US rank: #5992

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Monmouth, OR
• County: Polk County · 84,240 people
• City population: 14,488
• Metro: Salem, OR
• Population (ZIP): 14,488
• Household income: $69,505
• Rent vs Own: 43.4% rent · 56.6% own
• Severe rent burden: 412.0

Population outlook (Polk County) Hauer SSP2

• Today (2025): 88,594 people
• By 2030: 93,209 · +5.2%
• By 2040: 101,942 · +15.1%
• By 2050: 110,395 · +24.6%
• By 2075: 131,091 · +48.0%
• By 2100: 141,746 · +60.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 16% Two or more races 12% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Slovak 4% Italian 3% Portuguese 3%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 87% English-only · Spanish 10% Other Asian/Pacific 1% Korean 1%

Political lean MEDSL · Polk

• 2024 margin: Toss-up / Even · D 46.6% · R 50.4% · Other 3.0%
• 2008→2024 swing: -3.3pp toward R · 2008: -0.5pp · 2024: -3.8pp
• All cycles: 2024: R+3.8 2020: R+1.7 2016: R+7.0 2012: R+4.8 2008: R+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -162.97%
• Current HPI: 309.076
• Rent YoY: —
• Metro: Salem, 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

-16.7% since first listed

18 events — show timeline

• 2026-04-26 Relisted — RMLS
• 2026-04-26 Relisted — WVMLS
• 2026-04-21 Pending — RMLS
• 2026-04-21 Pending — WVMLS
• 2026-03-24 Price Changed $62,500 WVMLS
• 2026-03-23 Price Changed $62,500 RMLS
• 2025-09-30 Price Changed $65,000 WVMLS
• 2025-09-30 Price Changed $65,000 RMLS
• 2025-08-22 Price Changed $72,000 WVMLS
• 2025-08-21 Price Changed $72,000 RMLS
• 2025-08-01 Listed $74,900 WVMLS
• 2025-08-01 Listed $74,900 RMLS
• 2022-09-02 Sold (MLS) $69,000 WVMLS
• 2022-07-07 Contingent — WVMLS
• 2022-06-09 Price Changed $69,000 WVMLS
• 2022-05-23 Relisted — WVMLS
• 2022-05-12 Contingent — WVMLS
• 2022-05-10 Listed $75,000 WVMLS