550 S State St #15 · Sutherlin, OR 97479

$100,000

3 bd · 2.0 ba · 1,377 sqft · Manufactured public records · 10 Days on market

Built 1996 Est $136k · 27% under

---

Why this score? — see what drove the B+ 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Well-maintained manufactured home in Meadows Park, conveniently situated near the entrance on B Street with ample parking and a low-maintenance yard. The property features three outbuildings, two of which are insulated, providing excellent storage, workspace, or hobby potential. Enjoy the peaceful backyard patio, perfect for morning coffee, relaxing in the evening, or BBQs with friends and family. Space rent is currently $570 per month and will increase to $600 for the new owner. Don't miss this opportunity schedule your tour today! Buyer must be approved by the park. For park approval information, contact the park manager at 541-459-7662.

Key facts

• Low-maintenance yard
• Three outbuildings
• Manufactured home

Tags

• MANUFACTURED HOME
• MEADOWS PARK
• AMPLE PARKING
• LOW-MAINTENANCE YARD
• THREE OUTBUILDINGS
• INSULATED OUTBUILDINGS

Property features AI

Finance

• Other: View present (mountains and trees/woods)
• Financial info: Land lease expires June 9, 2027
• HOA & community: Home located in a land-lease community (lot rent $600/month); Not a senior community

Exterior

• Parking: Driveway; RV access/parking
• Utilities: Public water; Public sewer; Electric service
• Home design: Manufactured home in a park; Single-story / one level; Not attached
• Construction: Built in 1996; Pillar/post/pier foundation
• Exterior features: Fenced yard; Tool shed; T-111 siding; Mountain and trees/woods view

Interior

• Kitchen: Kitchen (main level)
• Bedrooms: Primary bedroom (main level); 2nd bedroom; 3rd bedroom
• Flooring: Wall-to-wall carpet
• Bathrooms: 2 full bathrooms (both on main level)
• Heating & cooling: Heat pump for heating and cooling; Electric hot water
• Interior features: Ceiling fans; Soaking tub; Wall-to-wall carpet; Accessible one-level living; Accessible parking

🏷️ Possibly a rental listed for sale. The $100,000 price doesn't fit this home's estimated sale value (~$136,323) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $549 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Cap rate 12.9% vs local median 3.5% in Sutherlin — 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 70/100 on livability (#135 in OR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety C-, amenities F.
• Sutherlin SD 130 (town): math 19% / reading 40% proficiency, ranked #47 of 58 in OR (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: East Sutherlin Primary School (296 students, 67% FRL); Sutherlin Middle School (math 17% / reading 37%, grade F, #96 of 128 statewide, top 78%, 289 students, 65% FRL); Sutherlin High School (math 24% / reading 44%, grade F, #94 of 143 statewide, top 70%, 361 students, 83% FRL) — zoned schools average 72% FRL vs 55% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 109 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 190 units permitted in Douglas County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Douglas County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 8y 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 $48k; list at $100k implies a 106% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 8→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $100,000

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. 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.
3. 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.
4. 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: 1.48% ✓
• Cap rate: 12.88%
• Cash-on-cash: 23.54%
• DSCR: 2.05
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $136,323
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
550 S State St #126	0.00mi	2/3.0 (-1)	1,404 (+2%)	1mo	$96,000	$68	87
550 S State St #160	0.00mi	3/2.0	1,296 (-6%)	16mo	$118,000	$91	77
550 S State St #135	0.00mi	3/2.0	1,188 (-14%)	1mo	$118,000	$99	76
232 Heavenly Ct	0.21mi	3/2.0	1,296 (-6%)	8mo	$300,000	$231	74
550 S State St #139	0.00mi	4/2.0 (+1)	1,539 (+12%)	6mo	$125,800	$82	71
141 Raintree Ave	0.23mi	3/2.0	1,296 (-6%)	12mo	$320,000	$247	70
328 S State St	0.19mi	3/2.0	1,565 (+14%)	6mo	$290,000	$185	63
315 Waite St	0.40mi	3/2.0	1,296 (-6%)	12mo	$230,000	$177	61
326 Waite St	0.42mi	2/2.0 (-1)	1,512 (+10%)	11mo	$269,000	$178	50
1000 E Central Ave	0.66mi	3/2.0	1,500 (+9%)	5mo	$125,000	$83	50
1000 E Central Ave #35	0.69mi	3/2.0	1,296 (-6%)	10mo	$60,000	$46	50
1000 E Central Ave #2	0.69mi	3/2.0	1,512 (+10%)	7mo	$75,000	$50	46

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: 16.6%
• Equity multiple: 1.67×
• Total profit: $18,751
• Equity at exit: $14,910

10-year hold

• IRR: 25.2%
• Equity multiple: 3.19×
• Total profit: $61,282
• Equity at exit: $8,646

Cash invested: $28,000 (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 97479

• Home prices YoY: -19.2%
• Active inventory: 109
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,481 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$55 /mo · $657/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $549

Break-even live

Break-even rent $786

Max offer price $100,000

Occupancy floor 58%

Sensitivity live

Price	-10% $606	-5% $577	+0% $549	+5% $521	+10% $493
Rent	-10% $432	-5% $491	+0% $549	+5% $608	+10% $666
Rate	-1.0pp $600	-0.5pp $575	base $549	+0.5pp $523	+1.0pp $497

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
233 NW Sherman St Sutherlin, OR	2.0	2.0	988	$1,550	$1.57	14d	2	0.82mi
442 Willow Creek Ln Unit 482 Sutherlin, OR	2.0	1.5	1024	$1,395	$1.36	22d	1	1.06mi

Listing history 8 events

1. 2026-06-19
   days on market $100,000 Active 10 DOM
2. 2026-06-18
   days on market $100,000 Active 9 DOM
3. 2026-06-17
   days on market $100,000 Active 8 DOM
4. 2026-06-16
   days on market $100,000 Active 7 DOM
5. 2026-06-15
   days on market $100,000 Active 6 DOM
6. 2026-06-14
   days on market $100,000 Active 4 DOM
7. 2026-06-12
   remarks 647-char remark
8. 2026-06-12
   listed $100,000 Active 3 DOM

ⓘ 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: $657 · $55/mo
• Projected year-2 tax: $970 · $81/mo
• Expected delta: +$313/yr (+$26/mo · 47.5%)

ⓘ 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 8/10 Severe
• 🌡 Heat 5/10 Major 8 d/yr ≥92°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 12 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,773
• − Mortgage interest: −$5,602
• − Property taxes: −$657
• − Insurance: −$500
• − Repairs & maintenance: −$1,422
• − Management: −$1,422
• − Depreciation: −$2,909
• Taxable income: $5,261
• Est. tax owed @ 24.0%: −$1,263
• After-tax cash flow: $5,327/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: Sutherlin SD 130
• NCES district ID: 4111940
• Math proficiency: 19% ▼ -19.00%
• Reading proficiency: 40% ▼ -14.00%
• Median HH income: $40,425
• Composite: 24.79/100
• National rank: #7598
• State rank: #47 of 58 in OR

Livability — Sutherlin

• Score: 70/100
• State rank: #135
• US rank: #7711

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sutherlin, OR
• Population (ZIP): 10,479

Population outlook (Douglas County) Hauer SSP2

• Today (2025): 105,191 people
• By 2030: 102,664 · -2.4%
• By 2040: 96,668 · -8.1%
• By 2050: 91,279 · -13.2%
• By 2075: 79,395 · -24.5%
• By 2100: 66,107 · -37.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 3% Black 1%
• Common ancestry: Italian 3% Serbian 3% Slovak 3%
• Foreign-born: 2%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Douglas

• 2024 margin: Solid R (+37.7) · D 29.9% · R 67.6% · Other 2.5%
• 2008→2024 swing: -17.6pp toward R · 2008: -20.1pp · 2024: -37.7pp
• All cycles: 2024: R+37.7 2020: R+37.5 2016: R+39.4 2012: R+27.6 2008: R+20.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -78.34%
• Current HPI: 328.8614
• 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

+88.7% since first listed

6 events — show timeline

• 2026-06-09 Listed $100,000 RMLS
• 2018-04-25 Sold (MLS) $48,500 RMLS
• 2018-03-26 Pending — RMLS
• 2018-03-19 Relisted — RMLS
• 2018-03-16 Pending — RMLS
• 2018-03-14 Listed $53,000 RMLS

Property tax history

+0.9%/yr

Latest (2025): $657 · +66.0% YoY. Source: county tax records.