80984 Coyote Ln

Heppner, OR 97836

$105,000C+

3 bd · 1.0 ba · 730 sqft · Built 1964 · Manufactured · Active · 45 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,286/mo
• Mortgage (P&I): −$551
• Tax + insurance: −$175
• HOA: −$0
• Vac / Maint / Mgmt: −$270
• Net cashflow: $291/mo
• Annual: $3,488/yr
• Cap rate: 9.62%
• Cash-on-cash: 11.87%
• DSCR: 1.53
• 1% rule: 1.23%
• Cash to close: $29,400

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $105k.
• At list price, monthly cash flow is $291 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• It's been on market 45 days — a 3% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $102k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#81 in OR, #3,691 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities F, commute F.
• Morrow SD 1 (town): math 15% / reading 39% proficiency, ranked #49 of 58 in OR (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Heppner Elementary School (math 30% / reading 64%, grade D, #131 of 412 statewide, top 32%, 199 students, 68% FRL); Heppner Junior/Senior High School (math 27% / reading 54%, grade F, #68 of 143 statewide, top 47%, 159 students, 68% FRL).
• Zoned-school proficiency averages 44% at this address vs 27% district-wide (+17 pts) — the actual schools serving this property are materially stronger than the Morrow SD 1 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 33 active listings in the ZIP; 57 units permitted in Morrow County in 2024 (0 in 5+ unit buildings).
• 2 sale attempts; this cycle's ask has dropped $8k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~10 years — after that, you're playing with house money.
• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.