1515 NW Fir Ave Unit 29 · Redmond, OR 97756

$42,000

2 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 18 Days on market

Built 1981 $36/sqft · 60% below area

---

Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.9/5.0
• Rent growth +3.3/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

New listing with potential. Must See! If you are a skilled carpenter, plumber, painter or other specialties, this home needs you for a low priced home in Remington Arms MH PK in Redmond. 1,152 sq ft of living area has 3 bedrooms, 2 bath, Spacious opened living & dining area. All double pane insulated windows. A car port and two concrete floor storage buildings. All on a corner lot with back yard privacy at the end of a cul de sac street.

Key facts

• Parking
• Built 1981
• Listed 18 days

Property features AI

Finance

• Other: Not currently rented; FIRPTA not applicable
• Financial info: Monthly land lease: $1,005
• HOA & community: Short-term rentals not allowed in community; CCRs not applicable

Exterior

• Parking: Detached carport; Driveway
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Electricity connected; Cable connected; Phone connected
• Home design: Mobile home (double wide) located in a park; One level; On leased land (may remain in park); Manufacturer: Redman/Champion Homes
• Construction: Built in 1981; Metal skirting; Foundation details unknown
• Exterior features: Composition roof; Shed(s); Paved road access; Aluminum and vinyl window frames; Smoke detectors

Interior

• Kitchen: Range; Microwave; Refrigerator; Pantry
• Bedrooms: 3 bedrooms (primary bedroom on main floor)
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom (total 1.5 bathrooms)
• Heating & cooling: Pellet stove heating; No central cooling
• Interior features: Pantry; Primary bedroom on main floor; Shower/tub combo; Living room; Dining room; Kitchen; Laundry room; No basement
• Laundry & utility: Washer; Dryer; Water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $42k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $42k).
• Recommended offer: $41k (1.5% below list) — sets the bar for market timing.
• Cap rate 39.2% vs local median 2.8% in Redmond — 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 78/100 on livability (#68 in OR, #2,715 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, amenities A-; Watch: commute F.
• Redmond SD 2J (town): math 24% / reading 42% proficiency, ranked #28 of 58 in OR (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: John Tuck Elementary School (math 34% / reading 54%, grade F, #143 of 412 statewide, top 38%, 331 students, 67% FRL); Elton Gregory Middle School (math 18% / reading 39%, grade F, #94 of 128 statewide, top 73%, 709 students, 40% FRL); Redmond High School (936 students, 38% FRL) — zoned schools at 48% FRL track the district average.
• Market conditions: Rents rising (+3.4%/yr); 731 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,624 units permitted in Deschutes County in 2024 (391 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $290 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Deschutes County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.4% rent growth), your $12k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($41k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 28y ago 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 $20k; list at $42k implies a 110% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $41,370 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
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: 4.30% ✓
• Cap rate: 39.15%
• Cash-on-cash: 117.36%
• DSCR: 6.22
• GRM: 1.9

CMA / ARV

• ARV (median comp): $105,500
• List price: $42,000
• Delta: -60.19%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1515 NW Fir Ave #21	0.00mi	2/2.0	1,134 (-2%)	4mo	$124,500	$110	94
1515 NW Fir Ave #50	0.00mi	3/2.0 (+1)	1,152 (0%)	16mo	$115,000	$100	81
1515 NW Fir Ave #62	0.00mi	3/2.0 (+1)	1,215 (+6%)	24mo	$131,250	$108	66
1515 NW Fir Ave #31	0.00mi	2/2.5	1,296 (+12%)	15mo	$127,500	$98	65
310 NW Hemlock Ct	0.75mi	3/2.0 (+1)	1,080 (-6%)	20mo	$306,100	$283	33

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 · 3.39% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.71×
• Total profit: $67,175
• Equity at exit: $6,262

10-year hold

• IRR: —
• Equity multiple: 14.25×
• Total profit: $155,836
• Equity at exit: $3,631

Cash invested: $11,760 (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 97756

• Rents YoY: 3.4%
• Active inventory: 731
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,806 high
• Mortgage (P&I): −$220
• Tax from tax record: −$39 /mo · $470/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$379
• Net cashflow: $1,150

Break-even live

Break-even rent $351

Max offer price $42,000

Occupancy floor 31%

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: $10,500
• Closing costs: $1,260
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
438 NW 17th St Unit 04 Redmond, OR	2.0	1.0	1000	$1,350	$1.35	43d	1	0.30mi
405 NW 17th St #2 Redmond, OR	2.0	1.0	975	$1,450	$1.49	13d	1	0.33mi
2521 NW Cedar Ave #1 Redmond, OR	2.0	2.5	1091	$1,800	$1.65	21d	1	0.65mi
2571 NW Cedar Ave #1 Redmond, OR	2.0	2.5	1091	$1,900	$1.74	21d	1	0.66mi
217 NW 7th St Redmond, OR	2.0	1.0	800	$1,375	$1.72	43d	1	0.67mi
340 SW Rimrock Way Redmond, OR	2.0	1.0	662	$1,545	$2.33	13d	3	0.68mi
1042 SW Black Butte Blvd Unit B Redmond, OR	2.0	1.0	800	$1,150	$1.44	13d	1	0.68mi
470 NW Fir Ave Unit 303 Redmond, OR	2.0	2.0	850	$1,850	$2.18	43d	1	0.69mi
470 NW Fir Ave Unit 201 Redmond, OR	2.0	2.0	850	$1,750	$2.06	43d	1	0.69mi
2611 NW Cedar Ave Unit 3 Redmond, OR	3.0	2.5	1214	$1,950	$1.61	13d	1	0.69mi
2561 NW Cedar Ave Unit 3 Redmond, OR	3.0	2.5	1212	$1,795	$1.48	43d	1	0.70mi
2602 NW Elm Ave Redmond, OR	2.0–3.0	2.0–3.0	1177	$1,950	$1.66	13d	3	0.71mi
341 NW Hemlock Ct Unit 341 Redmond, OR	3.0	2.0	1008	$1,950	$1.93	21d	1	0.71mi
1039 SW Cascade Ave Redmond, OR	3.0	1.0	1200	$2,200	$1.83	43d	1	0.72mi
2044 NW 11th St Unit 2044 Redmond, OR	2.0	1.0	798	$1,650	$2.07	43d	1	0.82mi
233 NW Cedar Ave Unit D Redmond, OR	1.0	1.0	700	$2,100	$3.00	21d	1	0.84mi
136 SW 3rd St Unit 136 Redmond, OR	2.0	1.0	782	$1,395	$1.78	21d	1	0.93mi
404 SW 6th St Redmond, OR	2.0	2.0	1238	$2,250	$1.82	13d	1	0.94mi
123 W Antler Ave Unit 1 094 Redmond, OR	2.0	1.5	1015	$1,495	$1.47	43d	1	0.97mi
2452 NW 8th St Redmond, OR	3.0	2.5	1461	$2,225	$1.52	43d	1	1.14mi
937 SW 11th St Unit 24 Redmond, OR	2.0	1.5	925	$1,495	$1.62	21d	1	1.16mi
3417 W Antler Ave Redmond, OR	3.0	2.0	1355	$2,450	$1.81	43d	1	1.21mi
2708 NW 8th St Unit 2708 Redmond, OR	3.0	2.0	1140	$1,995	$1.75	21d	1	1.28mi
2960 NW Northwest Way Redmond, OR	3.0	1.0–2.0	869	$2,075	$2.39	13d	26	1.45mi
3025 NW 7th St Redmond, OR	1.0–3.0	1.0–2.0	850	$1,838	$2.16	13d	17	1.50mi

Listing history 13 events

1. 2026-05-13
   status Active 859-char remark
2. 2026-04-30
   historical 859-char remark
3. 2026-04-28
   listed $42,000 Active 859-char remark
4. 2020-02-13
   soldstatus $20,000 Sold 447-char remark

   Show marketing remark (447 chars)

   New listing with potential. Must See! If you are a skilled carpenter, plumber, painter or other specialties, this home needs you for a low priced home in Remington Arms MH PK in Redmond. 1,152 sq ft of living area has 3 bedrooms, 2 bath, Spacious opened living & dining area. All double pane insulated windows. A car port and two concrete floor storage buildings. All on a corner lot with back yard privacy at the end of a cul de sac street.

5. 2020-01-26
   status Pending 447-char remark

   Show marketing remark (447 chars)

   New listing with potential. Must See! If you are a skilled carpenter, plumber, painter or other specialties, this home needs you for a low priced home in Remington Arms MH PK in Redmond. 1,152 sq ft of living area has 3 bedrooms, 2 bath, Spacious opened living & dining area. All double pane insulated windows. A car port and two concrete floor storage buildings. All on a corner lot with back yard privacy at the end of a cul de sac street.

6. 2019-12-13
   status Active 447-char remark

   Show marketing remark (447 chars)

   New listing with potential. Must See! If you are a skilled carpenter, plumber, painter or other specialties, this home needs you for a low priced home in Remington Arms MH PK in Redmond. 1,152 sq ft of living area has 3 bedrooms, 2 bath, Spacious opened living & dining area. All double pane insulated windows. A car port and two concrete floor storage buildings. All on a corner lot with back yard privacy at the end of a cul de sac street.

7. 2019-11-25
   status Pending 447-char remark

   Show marketing remark (447 chars)

   New listing with potential. Must See! If you are a skilled carpenter, plumber, painter or other specialties, this home needs you for a low priced home in Remington Arms MH PK in Redmond. 1,152 sq ft of living area has 3 bedrooms, 2 bath, Spacious opened living & dining area. All double pane insulated windows. A car port and two concrete floor storage buildings. All on a corner lot with back yard privacy at the end of a cul de sac street.

8. 2019-10-25
   price $30,000 447-char remark

   Show marketing remark (447 chars)

   New listing with potential. Must See! If you are a skilled carpenter, plumber, painter or other specialties, this home needs you for a low priced home in Remington Arms MH PK in Redmond. 1,152 sq ft of living area has 3 bedrooms, 2 bath, Spacious opened living & dining area. All double pane insulated windows. A car port and two concrete floor storage buildings. All on a corner lot with back yard privacy at the end of a cul de sac street.

9. 2019-10-03
   listed $32,000 Active 447-char remark

   Show marketing remark (447 chars)

   New listing with potential. Must See! If you are a skilled carpenter, plumber, painter or other specialties, this home needs you for a low priced home in Remington Arms MH PK in Redmond. 1,152 sq ft of living area has 3 bedrooms, 2 bath, Spacious opened living & dining area. All double pane insulated windows. A car port and two concrete floor storage buildings. All on a corner lot with back yard privacy at the end of a cul de sac street.

10. 1998-08-05
    soldstatus $19,225

    Show marketing remark (124 chars)

    beautiful Landscapi Located In A Private Area Of The Park. Has Air Conditioner, Needs Repair. Buyer Subject To Park Approval

11. 1998-04-20
    historical

    Show marketing remark (124 chars)

    beautiful Landscapi Located In A Private Area Of The Park. Has Air Conditioner, Needs Repair. Buyer Subject To Park Approval

12. 1998-03-16
    listed $21,000

    Show marketing remark (124 chars)

    beautiful Landscapi Located In A Private Area Of The Park. Has Air Conditioner, Needs Repair. Buyer Subject To Park Approval

13. 1991-09-17
    soldstatus $26,000

ⓘ 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: $470 · $39/mo
• Projected year-2 tax: $470 · $39/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 22 unhealthy d/yr today · 25 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,677
• − Mortgage interest: −$2,353
• − Property taxes: −$470
• − Insurance: −$210
• − Repairs & maintenance: −$1,734
• − Management: −$1,734
• − Depreciation: −$1,222
• Taxable income: $13,953
• Est. tax owed @ 24.0%: −$3,349
• After-tax cash flow: $10,452/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: Redmond SD 2J
• NCES district ID: 4110350
• Math proficiency: 24% ▼ -19.00%
• Reading proficiency: 42% ▼ -11.00%
• Median HH income: $51,027
• Composite: 28.72/100
• National rank: #6682
• State rank: #28 of 58 in OR

Livability — Redmond

• Score: 78/100
• State rank: #68
• US rank: #2715

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Redmond, OR
• County: Deschutes County · 197,892 people
• City population: 44,914
• Metro: Bend, OR
• Population (ZIP): 44,914
• Household income: $87,278
• Rent vs Own: 30.8% rent · 69.2% own
• Severe rent burden: 1205.0

Population outlook (Deschutes County) Hauer SSP2

• Today (2025): 213,908 people
• By 2030: 232,387 · +8.6%
• By 2040: 265,858 · +24.3%
• By 2050: 295,286 · +38.0%
• By 2075: 353,553 · +65.3%
• By 2100: 380,293 · +77.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 13% Two or more races 4% Native American 2%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Italian 5% Portuguese 4% Slovak 4%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 90% English-only · Spanish 8% Russian/Polish/Slavic 1%

Political lean MEDSL · Deschutes

• 2024 margin: D (+10.1) · D 53.6% · R 43.5% · Other 2.8%
• 2008→2024 swing: +10.4pp toward D · 2008: -0.3pp · 2024: 10.1pp
• All cycles: 2024: D+10.1 2020: D+8.2 2016: R+3.8 2012: R+7.3 2008: R+0.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -292.28%
• Current HPI: 385.3027
• Rent YoY: ▲ 3.39%
• Metro: Bend, 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

+61.5% since first listed

14 events — show timeline

• 2026-05-28 Pending — MLSCO
• 2026-05-13 Relisted — MLSCO
• 2026-04-30 Listing Removed — MLSCO
• 2026-04-28 Listed $42,000 MLSCO
• 2020-02-13 Sold (MLS) $20,000 MLSCO
• 2020-01-26 Pending — MLSCO
• 2019-12-13 Relisted — MLSCO
• 2019-11-25 Pending — MLSCO
• 2019-10-25 Price Changed $30,000 MLSCO
• 2019-10-03 Listed $32,000 MLSCO
• 1998-08-05 Sold (MLS) $19,225 MLSCO
• 1998-04-20 Listing Removed — MLSCO
• 1998-03-16 Listed $21,000 MLSCO
• 1991-09-17 Sold (Public Records) $26,000 Public Records

Property tax history

+9.2%/yr

Latest (2021): $470 · +4.6% YoY. Source: county tax records.