185 NW Harwood St · Prineville, OR 97754

$92,500

3 bd · 2.0 ba · 924 sqft · Manufactured · 23 Days on market

Built 1989 Est $113k · 18% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.7/5.0
• Livability +3.6/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

See Park Manager For Rules And Regs. Park Rents $225 Incl Water, Sewer & Garbage. Beautiful Dbl Wide Home In Lovely Park. Open Flr Plan And A Fenced Yard. This Is A Family Park.

Key facts

• New step-in shower
• New flooring
• New paint

Tags

• NEW FLOORING
• NEW PAINT
• NEW STEP-IN SHOWER
• UPDATED VANITY
• NEW SINK
• NEW VINYL WINDOWS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $92k.

Deal economics

• At list price, monthly cash flow is $667 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $92k).
• Recommended offer: $91k (1.5% below list) — sets the bar for market timing.
• Cap rate 15.8% vs local median 2.1% in Prineville — 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 71/100 on livability (#117 in OR) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, crime B+; Watch: schools C-, health & safety C-, commute F.
• Crook County SD (town): math 34% / reading 45% proficiency, ranked #19 of 58 in OR (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.7%/yr); 534 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 142 units permitted in Crook County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $640 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Crook County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 4.7% rent growth), your $26k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 28y 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 $26k; list at $92k implies a 249% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $91,112 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.78% ✓
• Cap rate: 15.81%
• Cash-on-cash: 34.00%
• DSCR: 2.51
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $112,728
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
185 NW Harwood St #32	0.00mi	3/2.0	960 (+4%)	7mo	$161,000	$168	88
185 NW Harwood St Spc 21	0.00mi	2/1.0 (-1)	972 (+5%)	2mo	$110,000	$113	81
185 NW Harwood St Spc 111	0.00mi	2/2.0 (-1)	858 (-7%)	4mo	$105,000	$122	80
185 NW Harwood Spc 2	0.00mi	2/1.0 (-1)	840 (-9%)	11mo	$150,000	$179	66
205 SE Lynn Blvd #58	0.57mi	2/1.5 (-1)	960 (+4%)	3mo	$86,500	$90	57

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 · 4.67% rent growth · sell at horizon

5-year hold

• IRR: 27.6%
• Equity multiple: 2.17×
• Total profit: $30,343
• Equity at exit: $13,792

10-year hold

• IRR: 36.1%
• Equity multiple: 4.60×
• Total profit: $93,151
• Equity at exit: $7,998

Cash invested: $25,900 (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 97754

• Home prices YoY: -1.8%
• Rents YoY: 4.7%
• Active inventory: 534
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,643 high
• Mortgage (P&I): −$485
• Tax from tax record: −$41 /mo · $487/yr
• Insurance: −$39
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $667

Break-even live

Break-even rent $798

Max offer price $92,500

Occupancy floor 54%

Sensitivity live

Price	-10% $720	-5% $694	+0% $667	+5% $641	+10% $615
Rent	-10% $538	-5% $602	+0% $667	+5% $732	+10% $797
Rate	-1.0pp $714	-0.5pp $691	base $667	+0.5pp $643	+1.0pp $619

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: $23,125
• Closing costs: $2,775
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
275 SW 2nd St Apt 1 Prineville, OR	2.0	1.0	1050	$1,395	$1.33	14d	1	0.25mi
197 SW 4th St Prineville, OR	2.0	1.0	900	$1,695	$1.88	44d	1	0.32mi
212 SE 5th St Unit 14 Prineville, OR	2.0	1.0	792	$1,250	$1.58	21d	1	0.46mi
850 NW 10th St Apt 19 Prineville, OR	2.0	1.0	830	$1,275	$1.54	44d	1	0.63mi
250 NE Saint Charles Way Prineville, OR	1.0–3.0	1.0–2.0	938	$2,260	$2.41	14d	185	1.49mi

Listing history 22 events

1. 2026-06-18
   days on market $92,500 Active 23 DOM
2. 2026-06-17
   days on market $92,500 Active 22 DOM
3. 2026-06-16
   price $92,500 Active 21 DOM
4. 2026-06-16
   days on market $95,000 Active 21 DOM
5. 2026-06-15
   days on market $95,000 Active 20 DOM
6. 2026-06-14
   days on market $95,000 Active 18 DOM
7. 2026-06-13
   days on market $95,000 Active 17 DOM
8. 2026-06-10
   days on market $95,000 Active 15 DOM
9. 2026-06-09
   days on market $95,000 Active 14 DOM
10. 2026-06-08
    days on market $95,000 Active 13 DOM
11. 2026-06-07
    days on market $95,000 Active 12 DOM
12. 2026-06-05
    days on market $95,000 Active 9 DOM
13. 2026-06-02
    days on market $95,000 Active 7 DOM
14. 2026-06-01
    days on market $95,000 Active 6 DOM
15. 2026-05-31
    days on market $95,000 Active 5 DOM
16. 2026-05-30
    days on market $95,000 Active 4 DOM
17. 2026-05-26
    listed $95,000 Active
18. 2007-01-03
    historical
19. 2004-01-16
    listed $29,900
20. 1998-11-13
    soldstatus $26,500 183-char remark

    Show marketing remark (183 chars)

    See Park Manager For Rules And Regs. Park Rents $225 Incl Water, Sewer & Garbage. Beautiful Dbl Wide Home In Lovely Park. Open Flr Plan And A Fenced Yard. This Is A Family Park.

21. 1998-11-05
    historical 183-char remark

    Show marketing remark (183 chars)

    See Park Manager For Rules And Regs. Park Rents $225 Incl Water, Sewer & Garbage. Beautiful Dbl Wide Home In Lovely Park. Open Flr Plan And A Fenced Yard. This Is A Family Park.

22. 1998-10-23
    listed $28,000 183-char remark

    Show marketing remark (183 chars)

    See Park Manager For Rules And Regs. Park Rents $225 Incl Water, Sewer & Garbage. Beautiful Dbl Wide Home In Lovely Park. Open Flr Plan And A Fenced Yard. This Is A Family Park.

ⓘ 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: $487 · $41/mo
• Projected year-2 tax: $897 · $75/mo
• Expected delta: +$411/yr (+$34/mo · 84.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (shaded) · 78% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 4/10 Moderate 7 d/yr ≥93°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 13 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,717
• − Mortgage interest: −$5,181
• − Property taxes: −$487
• − Insurance: −$1,260
• − Repairs & maintenance: −$1,577
• − Management: −$1,577
• − Depreciation: −$2,691
• Taxable income: $6,943
• Est. tax owed @ 24.0%: −$1,666
• After-tax cash flow: $6,342/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: Crook County SD
• NCES district ID: 4103720
• Math proficiency: 34% ▼ -5.00%
• Reading proficiency: 45% ▼ -10.00%
• Median HH income: $41,394
• Composite: 33.22/100
• National rank: #5527
• State rank: #19 of 58 in OR

Livability — Prineville

• Score: 71/100
• State rank: #117
• US rank: #6885

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Prineville, OR
• County: Crook County · 22,960 people
• City population: 22,960
• Metro: Prineville, OR
• Population (ZIP): 22,960
• Household income: $77,199
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 481.0

Population outlook (Crook County) Hauer SSP2

• Today (2025): 23,232 people
• By 2030: 23,833 · +2.6%
• By 2040: 24,531 · +5.6%
• By 2050: 24,639 · +6.1%
• By 2075: 24,026 · +3.4%
• By 2100: 21,419 · -7.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 8% Two or more races 7% Native American 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 5% Portuguese 2% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Crook

• 2024 margin: Solid R (+50.8) · D 23.5% · R 74.3% · Other 2.2%
• 2008→2024 swing: -24.3pp toward R · 2008: -26.4pp · 2024: -50.8pp
• All cycles: 2024: R+50.8 2020: R+48.5 2016: R+49.8 2012: R+36.5 2008: R+26.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -10.01%
• Current HPI: 533.6457
• Rent YoY: ▲ 4.67%
• Metro: Prineville, OR
• 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

+239.3% since first listed

6 events — show timeline

• 2026-05-26 Listed $95,000 FSBO.com
• 2007-01-03 Listing Removed — MLSCO
• 2004-01-16 Listed $29,900 MLSCO
• 1998-11-13 Sold (MLS) $26,500 MLSCO
• 1998-11-05 Listing Removed — MLSCO
• 1998-10-23 Listed $28,000 MLSCO

Property tax history

+0.3%/yr

Latest (2025): $487 · +2.6% YoY. Source: county tax records.