1005 Ferry St #26

Dayton, OR 97114

$127,500B-

3 bd · 2.5 ba · 1,104 sqft · Built 2005 · Manufactured · Pending · 150 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,295/mo
• Mortgage (P&I): −$669
• Tax + insurance: −$104
• HOA: −$0
• Vac / Maint / Mgmt: −$482
• Net cashflow: $1,040/mo
• Annual: $12,481/yr
• Cap rate: 16.08%
• Cash-on-cash: 34.96%
• DSCR: 2.56
• 1% rule: 1.80%
• Cash to close: $35,700

Investor read

• This is a 3-bed/2.5-bath manufactured listed at $128k.
• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $128k).
• It's been on market 150 days — a 12% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $112k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $882 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#264 in OR) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, employment B; Watch: health & safety D+, amenities F, commute F.
• Dayton SD 8 (town): math 25% / reading 25% proficiency, ranked #50 of 58 in OR (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Dayton Grade School (328 students, 80% FRL); Dayton Jr High School (229 students, 74% FRL); Dayton High School (323 students, 94% FRL) — zoned schools average 83% FRL vs 56% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 25 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 282 units permitted in Yamhill County in 2024 (0 in 5+ unit buildings).
• Yamhill County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~4 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 150 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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 D-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.
• 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.