845 SW Blaine St · McMinnville, OR 97128

$395,000

4 bd · 4.0 ba · 3,544 sqft · SingleFamily public records · 48 Days on market

Built 1890 9,147 sqft lot $111/sqft · 45% below area Est $675k · 41% under

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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 +16.4/30.0
• ARV discount +15.0/15.0
• DSCR +5.1/10.0
• Schools +4.8/10.0
• 1% rule +4.0/10.0
• Livability +3.8/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MENTS. RECENT INSPECTION DONE.

Key facts

• New electric panel
• New gas lines
• New gas furnace

Tags

• NEW GAS FURNACE
• 5 TON AIR CONDITIONER
• NEW ELECTRIC PANEL
• NEW GAS LINES
• NEW TANKLESS WATER HEATER
• MINI SPLIT SYSTEM

Property features AI

Finance

• Other: Lot is level with trees; Paved road access; Lot roughly 0.21 acre (7,000–9,999 SqFt range); Total building area about 3,350 (appraisal)
• HOA & community: Not a senior community

Exterior

• Parking: Driveway; Parking pad; Attached converted garage
• Utilities: Public water; Public sewer; Electric and gas service; Fiber optic internet available
• Home design: Single-family residence (residential); Fixer condition; No notable view
• Construction: Built in 1890; Composition roof; Concrete perimeter foundation and slab
• Exterior features: Fenced yard; Porch; RV parking; Workshop; Yard; Wood siding

Interior

• Kitchen: Free-standing gas range; Granite counters; Dishwasher; Microwave; Disposal; Stainless steel appliances; Plumbed for ice maker
• Bedrooms: Primary bedroom on main level with ensuite bathroom, ceiling fan and hardwood floors; Second bedroom on main level; Third bedroom on upper level; Fourth bedroom on upper level; Fifth bedroom on upper level; Sun room on main level
• Flooring: Hardwood floors; Luxury vinyl plank; Tile flooring; Vinyl in some living areas
• Bathrooms: Three full bathrooms (two on main level, one on upper level); Primary bath includes jetted tub
• Heating & cooling: Forced air (90%); Mini-split; Central air conditioning
• Interior features: Ceiling fans; High ceilings; High-speed internet; Jetted tub; Laundry area; Hardwood floors; Luxury vinyl plank; Tile flooring; Wood stove; Insert wood-burning fireplace (1)
• Laundry & utility: Laundry area included; Gas hot water

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath single-family listed at $395k.

Deal economics

• At list price, monthly cash flow is $226 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $354k (10.4% below list).
• Recommended offer: $354k (10.4% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 3.2% in McMinnville — 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 76/100 on livability (#79 in OR, #3,556 nationally) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing A, crime B; Watch: commute D+.
• Mcminnville SD 40 (town): math 50% / reading 58% proficiency, ranked #20 of 183 in OR (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Columbus Elementary School (445 students, 71% FRL); Duniway Middle School (806 students, 66% FRL); Mcminnville High School (2,319 students, 38% FRL).
• Market conditions: Rents flat; 390 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 282 units permitted in Yamhill County in 2024 (0 in 5+ unit buildings).
• At $3,541/mo this rent would consume 56% of the median local household income ($76k/yr) (locally 1508% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Yamhill County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($383k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 27y 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 $122k; list at $395k implies a 224% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $354,052 (10.4% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 0.90% ✗
• Cap rate: 6.98%
• Cash-on-cash: 2.45%
• DSCR: 1.11
• GRM: 9.3

CMA / ARV

• ARV (median comp): $674,920
• List price: $395,000
• Delta: -41.47%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.79% rent growth · sell at horizon

5-year hold

• IRR: -14.8%
• Equity multiple: 0.48×
• Total profit: $-57,356
• Equity at exit: $58,896

10-year hold

• IRR: -10.1%
• Equity multiple: 0.44×
• Total profit: $-61,822
• Equity at exit: $34,152

Cash invested: $110,600 (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 97128

• Rents YoY: 0.8%
• Active inventory: 390
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $3,541 medium
• Mortgage (P&I): −$2,071
• Tax from tax record: −$335 /mo · $4,019/yr
• Insurance: −$165
• HOA: −$0
• Vacancy / Maint / Mgmt: −$744
• Net cashflow: $226

Break-even live

Break-even rent $3,254

Max offer price $395,000

Occupancy floor 89%

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: $98,750
• Closing costs: $11,850
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1796 NW Wallace Rd Unit 1271944P McMinnville, OR	5.0	4.0	3595	$10,271	$2.86	21d	1	1.35mi

Listing history 18 events

1. 2026-06-18
   days on market $395,000 Active 48 DOM
2. 2026-06-17
   days on market $395,000 Active 47 DOM
3. 2026-06-16
   days on market $395,000 Active 46 DOM
4. 2026-06-15
   days on market $395,000 Active 45 DOM
5. 2026-06-13
   days on market $395,000 Active 43 DOM
6. 2026-06-13
   days on market $395,000 Active 42 DOM
7. 2026-06-09
   days on market $395,000 Active 39 DOM
8. 2026-06-08
   days on market $395,000 Active 38 DOM
9. 2026-06-07
   days on market $395,000 Active 37 DOM
10. 2026-06-05
    days on market $395,000 Active 34 DOM
11. 2026-06-03
    days on market $395,000 Active 33 DOM
12. 2026-06-02
    days on market $395,000 Active 32 DOM
13. 2026-06-01
    days on market $395,000 Active 31 DOM
14. 2026-05-31
    days on market $395,000 Active 30 DOM
15. 2025-11-14
    listed $395,000 Active 1727-char remark
16. 1999-05-27
    soldstatus $122,000 30-char remark

    Show marketing remark (30 chars)

    MENTS. RECENT INSPECTION DONE.

17. 1999-05-21
    soldstatus $122,000
18. 1999-01-07
    listed $123,900 30-char remark

    Show marketing remark (30 chars)

    MENTS. RECENT INSPECTION DONE.

ⓘ 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: $4,019 · $335/mo
• Projected year-2 tax: $4,019 · $335/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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 10 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,486
• − Mortgage interest: −$22,126
• − Property taxes: −$4,019
• − Insurance: −$1,975
• − Repairs & maintenance: −$3,399
• − Management: −$3,399
• − Depreciation: −$11,491
• Taxable loss: −$3,923
• Est. tax savings @ 24.0%: +$941
• After-tax cash flow: $3,654/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: Mcminnville SD 40
• NCES district ID: 4108010
• Math proficiency: 50% ▼ -1.00%
• Reading proficiency: 58% ▼ -1.00%
• Median HH income: $47,382
• Composite: 47.69/100
• National rank: #4919
• State rank: #20 of 183 in OR

Livability — McMinnville

• Score: 76/100
• State rank: #79
• US rank: #3556

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: McMinnville, OR
• County: Yamhill County · 71,150 people
• City population: 38,664
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 38,664
• Household income: $75,896
• Rent vs Own: 34.2% rent · 65.8% own
• Severe rent burden: 1508.0

Population outlook (Yamhill County) Hauer SSP2

• Today (2025): 109,295 people
• By 2030: 112,060 · +2.5%
• By 2040: 115,975 · +6.1%
• By 2050: 118,155 · +8.1%
• By 2075: 120,968 · +10.7%
• By 2100: 116,163 · +6.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 19% Two or more races 14% Asian 2%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Italian 6% Portuguese 3% Slovak 3%
• Foreign-born: 9% · Canada, China, South Korea
• Languages at home: 85% English-only · Spanish 13% Chinese 1% German/W. Germanic 1%

Political lean MEDSL · Yamhill

• 2024 margin: Lean R (+6.1) · D 45.3% · R 51.4% · Other 3.3%
• 2008→2024 swing: -4.8pp toward R · 2008: -1.4pp · 2024: -6.1pp
• All cycles: 2024: R+6.1 2020: R+4.0 2016: R+8.8 2012: R+6.7 2008: R+1.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -201.59%
• Current HPI: 320.373
• Rent YoY: ▲ 0.79%
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• 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

+218.8% since first listed

4 events — show timeline

• 2025-11-14 Listed $395,000 RMLS
• 1999-05-27 Sold (MLS) $122,000 RMLS
• 1999-05-21 Sold (Public Records) $122,000 Public Records
• 1999-01-07 Listed $123,900 RMLS

Property tax history

+3.4%/yr

Latest (2025): $4,019 · +5.5% YoY. Source: county tax records.