47775 Berry St Unit B7

Oakridge, OR 97463

$36,000B+

2 bd · 1.0 ba · 672 sqft · Built 1973 · Manufactured · Active · 528 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $870/mo
• Mortgage (P&I): −$189
• Tax + insurance: −$126
• HOA: −$0
• Vac / Maint / Mgmt: −$183
• Net cashflow: $372/mo
• Annual: $4,460/yr
• Cap rate: 20.90%
• Cash-on-cash: 52.16%
• DSCR: 3.32
• 1% rule: 2.42%
• Cash to close: $10,080

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $36k.
• At list price, monthly cash flow is $372 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($870 rent vs $36k).
• It's been on market 528 days — a 12% lower offer ($32k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $32k (12.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($249 loan paydown + $4k 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: schools F, amenities F, commute 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.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 62 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $14k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk; moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 20.9% vs local median 3.0% 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

• It's been on market 528 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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?
• 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.