2902 E 2nd St #12 · Newberg, OR 97132

$99,998

2 bd · 1.5 ba · 924 sqft · Manufactured public records · 10 Days on market

Built 1980 Est $95k · 5% over

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +5.2/15.0
• Livability +3.8/5.0
• Schools +3.4/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this beautifully upgraded manufactured home in Nut Tree Estates! The fully updated kitchen boasts can lights, a stylish tile backsplash, a gorgeous farmhouse sink and tons of cabinet space. New windows surround the entire home, complemened by fresh paint and newer flooring throughout. You’ll love the stunning step-in tile shower, high-end faucet, & low grab bar. Two mini-splits provide efficient heating + AC unit for cooling. The home features newer siding and an upgraded electrical panel. Washer, dryer, fridge, and stove all stay! On a private, quiet lot in one of the area’s most affordable and well cared for parks, you’ll enjoy fantastic amenities such as

Key facts

• Step-in tile shower
• High-end faucet
• Upgraded kitchen

Tags

• UPGRADED KITCHEN
• TILE BACKSPLASH
• FARMHOUSE SINK
• NEW WINDOWS
• STEP-IN TILE SHOWER
• HIGH-END FAUCET

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $762 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Cap rate 15.4% vs local median 2.4% in Newberg — 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 (#77 in OR, #3,395 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, employment A+, housing A+; Watch: cost of living D, commute F.
• Newberg SD 29J (town): math 30% / reading 45% proficiency, ranked #17 of 58 in OR (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mabel Rush Elementary School (math 44% / reading 44%, grade F, #143 of 412 statewide, top 38%, 389 students, 38% FRL); Mountain View Middle School (math 29% / reading 44%, grade F, #54 of 128 statewide, top 42%, 498 students, 99% FRL); Newberg Senior High School (math 24% / reading 74%, grade D, #50 of 143 statewide, top 37%, 1,389 students, 31% FRL) — zoned schools average 56% FRL vs 36% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 230 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 282 units permitted in Yamhill County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $692 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 0.6% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $99,998

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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.72% ✓
• Cap rate: 15.44%
• Cash-on-cash: 32.66%
• DSCR: 2.45
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $95,172
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2902 E 2nd St #12	0.00mi	2/1.0	924 (0%)	1mo	$98,000	$106	97
2902 E 2nd St #54	0.08mi	2/2.0	924 (0%)	3mo	$95,600	$103	92
2902 E 2nd St #108	0.16mi	3/2.0 (+1)	924 (0%)	6mo	$115,500	$125	81
2902 E 2nd St #18	0.03mi	2/1.0	1,008 (+9%)	6mo	$82,000	$81	76
2902 E 2nd St #106	0.16mi	2/1.0	840 (-9%)	3mo	$94,000	$112	73
2901 E 2nd St #126	0.14mi	2/2.0	1,008 (+9%)	4mo	$37,000	$37	73
1103 N Springbrook Rd #6	0.71mi	2/2.0	924 (0%)	2mo	$110,000	$119	63
2901 E 2nd St #110	0.14mi	2/1.0	992 (+7%)	20mo	$89,000	$90	62
1103 N Springbrook Rd #15	0.75mi	2/1.0	924 (0%)	10mo	$76,400	$83	55

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 · 0.55% rent growth · sell at horizon

5-year hold

• IRR: 25.1%
• Equity multiple: 2.01×
• Total profit: $28,158
• Equity at exit: $14,910

10-year hold

• IRR: 31.4%
• Equity multiple: 3.53×
• Total profit: $70,716
• Equity at exit: $8,646

Cash invested: $27,999 (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 97132

• Rents YoY: 0.6%
• Active inventory: 230
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,719 high
• Mortgage (P&I): −$524
• Tax from tax record: −$30 /mo · $362/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $762

Break-even live

Break-even rent $755

Max offer price $99,998

Occupancy floor 51%

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 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2501 E 2nd St #12 Newberg, OR	2.0	2.0	910	$1,500	$1.65	23d	1	0.23mi
704 N Elliott Rd Newberg, OR	2.0	1.5	850	$1,700	$2.00	16d	1	0.46mi
401 S Everest St Newberg, OR	2.0	1.0	950	$1,625	$1.71	1d	1	0.54mi
1536 E 3rd St Unit 20 Newberg, OR	3.0	1.0	1000	$1,725	$1.73	43d	1	0.59mi
901 N Pecan Ct Newberg, OR	2.0	1.0	827	$1,550	$1.87	1d	2	0.59mi
611 Sitka Ave Unit 03 Newberg, OR	2.0	1.5	900	$1,550	$1.72	43d	1	0.62mi
1418 E 2nd St Unit 10 Newberg, OR	2.0	1.0	850	$1,550	$1.82	43d	1	0.67mi
601 Wynooski St Unit 201 Newberg, OR	2.0	2.0	1122	$1,850	$1.65	43d	1	0.67mi
601 Wynooski St Unit 100 Newberg, OR	2.0	2.0	1064	$1,745	$1.64	14d	1	0.68mi
1005 Wynooski St Unit 7 Newberg, OR	2.0	1.0	825	$1,675	$2.03	43d	1	0.68mi
2400 E Haworth Ave Newberg, OR	1.0–3.0	1.0–1.5	1025	$1,638	$1.60	1d	2	0.70mi
1200 E 4th St Apt 1 Newberg, OR	1.0	1.0	600	$1,425	$2.38	17d	1	0.80mi
500 S River St #20 Newberg, OR	2.0	1.0	800	$1,425	$1.78	2d	1	0.84mi
2507 Hawthorne Dr Newberg, OR	2.0	1.0	950	$1,700	$1.79	1d	1	0.86mi
1401 N Springbrook Rd Newberg, OR	2.0	1.0	960	$1,550	$1.61	16d	4	0.89mi
1401 N Springbrook Rd Apt 128 Newberg, OR	2.0	1.0	960	$1,500	$1.56	1d	1	0.89mi
1401 N Springbrook Rd Unit 220 Newberg, OR	2.0	1.0	960	$1,600	$1.67	23d	1	0.92mi
507 N Meridian St Apt 1 Newberg, OR	2.0	1.0	700	$1,375	$1.96	2d	1	1.05mi
1109 S River St Newberg, OR	2.0	2.0	969	$1,812	$1.87	1d	3	1.06mi
1404 E Park Ln Newberg, OR	1.0–2.0	1.0	783	$1,670	$2.13	1d	4	1.08mi
4001 E Jory St Newberg, OR	1.0–3.0	1.0–2.0	941	$1,950	$2.07	1d	1	1.14mi
606 E Ninth St Apt 34 Newberg, OR	2.0	1.0	920	$1,550	$1.68	4d	1	1.16mi
606 E 9th St Newberg, OR	2.0	1.0–1.5	920	$1,550	$1.68	20d	2	1.16mi
1210 S College St Unit 335-218 Newberg, OR	1.0	1.0	640	$1,400	$2.19	10d	1	1.17mi
1200 N Meridian St Newberg, OR	2.0	1.5	950	$1,595	$1.68	43d	1	1.21mi
4460 E Jory St Unit 114 Newberg, OR	2.0	2.0	909	$1,899	$2.09	10d	1	1.30mi
611 S Blaine St Newberg, OR	1.0–2.0	1.0–2.0	860	$1,645	$1.91	43d	2	1.32mi
912 Charles St Apt B Newberg, OR	2.0	1.0	1087	$1,750	$1.61	43d	1	1.34mi
911 W Charles St Newberg, OR	2.0	1.0	888	$1,795	$2.02	7d	1	1.37mi

Listing history 2 events

1. 2026-04-07
   status Pending
2. 2026-03-28
   listed $99,998 Active

ⓘ 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: $362 · $30/mo
• Projected year-2 tax: $970 · $81/mo
• Expected delta: +$608/yr (+$51/mo · 167.7%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 11 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,632
• − Mortgage interest: −$5,601
• − Property taxes: −$362
• − Insurance: −$500
• − Repairs & maintenance: −$1,651
• − Management: −$1,651
• − Depreciation: −$2,909
• Taxable income: $7,958
• Est. tax owed @ 24.0%: −$1,910
• After-tax cash flow: $7,234/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: Newberg SD 29J
• NCES district ID: 4108720
• Math proficiency: 30% ▼ -13.00%
• Reading proficiency: 45% ▼ -12.00%
• Median HH income: $62,898
• Composite: 33.6/100
• National rank: #5414
• State rank: #17 of 58 in OR

Livability — Newberg

• Score: 76/100
• State rank: #77
• US rank: #3395

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newberg, OR
• County: Yamhill County · 71,150 people
• City population: 32,486
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 32,486
• Household income: $96,493
• Rent vs Own: 35.8% rent · 64.2% own
• Severe rent burden: 1311.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 14% Two or more races 12% Asian 3%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Italian 5% Portuguese 3% Slovak 3%
• Foreign-born: 7% · Canada, China
• Languages at home: 89% English-only · Spanish 8% Other Indo-European 1% Other Asian/Pacific 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: ▼ -265.11%
• Current HPI: 320.8972
• Rent YoY: ▲ 0.55%
• 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

2 events — show timeline

• 2026-04-07 Pending — RMLS
• 2026-03-28 Listed $99,998 RMLS

Property tax history

+3.3%/yr

Latest (2025): $362 · +4.0% YoY. Source: county tax records.