1404 NW Wallace Rd · McMinnville, OR 97128

$100,000

4 bd · 2.5 ba · 1,848 sqft · Manufactured public records · 24 Days on market

Built 1977

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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 +7.5/15.0
• Schools +4.8/10.0
• Livability +3.8/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Don't miss a wonderful opportunity! Discover a charming double wide 1977 manufactured home with 4 bedrooms, 2 bathrooms, and 1,848 Sq Ft of living space, located just across from Michelbook Golf Course. This home is in a prime spot nearby from schools and downtown McMinnville, offering convenience and tranquility. With a separate dining area and laminate flooring, plus a bonus room for storage or an office, This home is bursting with potential. With a bit of TLC, you can transform it into your dream space. Don't miss this chance to create lasting memories in a welcoming neighborhood. Make sure to get park approved and schedule your showing soon to start envisioning your future in this speci

Key facts

• Laminate flooring
• Separate dining area
• Built 1977

Tags

• DOUBLE WIDE MANUFACTURED HOME
• SEPARATE DINING AREA
• LAMINATE FLOORING
• BONUS ROOM FOR STORAGE
• SHORT DISTANCE FROM SCHOOLS

Property features AI

Finance

• Financial info: Resale property
• HOA & community: Located in Squires Mobile West Estates (land lease community); Land lease monthly: $1,250 (lease expires April 30, 2027); Not a senior community

Exterior

• Parking: Carport; Off-street parking
• Utilities: Electric fuel; Public water; Public sewer
• Home design: Manufactured home in park; Single-story (main level living); No notable view
• Construction: Built in 1977; Composition and tar/gravel roof; Block and pier (pillar/post/pier) foundation; Manufacturer: SHELBURNE
• Exterior features: Deck; Fenced yard; Front porch; Aluminum exterior; Level lot; Concrete/paved road access

Interior

• Kitchen: Dishwasher; Free‑standing range; Free‑standing refrigerator; Microwave
• Bedrooms: Primary bedroom (main level); 2nd bedroom (main level); 3rd bedroom (main level); 4th bedroom (main level)
• Flooring: Laminate
• Bathrooms: 2 full bathrooms (both on main level)
• Heating & cooling: Wall furnace (heating); No central cooling
• Interior features: Laminate flooring; Vinyl window frames
• Laundry & utility: Main level laundry; Electric hot water

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 22.7% 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: Newby Elementary School (445 students, 70% FRL); Duniway Middle School (806 students, 66% FRL); Mcminnville High School (2,319 students, 38% FRL).
• Market conditions: Rents flat; 395 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 46% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 282 units permitted in Yamhill County in 2024 (0 in 5+ unit buildings).
• This rent runs 40% of the median local income ($76k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 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 + 0.8% rent growth), your $28k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.

Recommended offer $98,500 (1.5% below list)

Questions for the listing agent

1. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 2.50% ✓
• Cap rate: 22.69%
• Cash-on-cash: 58.57%
• DSCR: 3.61
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $432,432
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1536 NW 7th Ct	0.18mi	3/2.0 (-1)	1,872 (+1%)	9mo	$125,000	$67	75
925 NW Cypress St	0.32mi	4/2.0	1,848 (0%)	19mo	$365,000	$198	67
907 NW Cypress St	0.30mi	3/2.0 (-1)	1,782 (-4%)	8mo	$430,000	$241	66
1073 NW Cypress St	0.39mi	3/2.0 (-1)	1,764 (-4%)	16mo	$404,000	$229	54
981 NW Cypress St	0.34mi	3/3.0 (-1)	1,782 (-4%)	22mo	$405,000	$227	53
1691 NW Del Monte Dr	0.32mi	3/2.0 (-1)	1,725 (-7%)	22mo	$404,000	$234	48
1643 NW 6th St	0.30mi	3/2.0 (-1)	1,616 (-13%)	12mo	$399,000	$247	48
1722 NW Wallace Rd	0.35mi	3/2.0 (-1)	1,677 (-9%)	23mo	$400,000	$239	42

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 · 0.79% rent growth · sell at horizon

5-year hold

• IRR: 54.7%
• Equity multiple: 3.34×
• Total profit: $65,386
• Equity at exit: $14,910

10-year hold

• IRR: 59.0%
• Equity multiple: 6.27×
• Total profit: $147,608
• Equity at exit: $8,646

Cash invested: $28,000 (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: 395
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $2,501 high
• Mortgage (P&I): −$524
• Tax from tax record: −$43 /mo · $519/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $1,367

Break-even live

Break-even rent $771

Max offer price $100,000

Occupancy floor 40%

Sensitivity live

Price	-10% $1,423	-5% $1,395	+0% $1,367	+5% $1,338	+10% $1,310
Rent	-10% $1,169	-5% $1,268	+0% $1,367	+5% $1,465	+10% $1,564
Rate	-1.0pp $1,417	-0.5pp $1,392	base $1,367	+0.5pp $1,341	+1.0pp $1,314

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 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
136 SW Sharon Jane Pl McMinnville, OR	3.0	2.0	1477	$2,150	$1.46	24d	1	0.41mi
140 SW Daniels St McMinnville, OR	3.0	1.0	1524	$1,995	$1.31	26d	1	0.43mi
1795 NW 2nd St McMinnville, OR	2.0–4.0	1.0	1250	$2,150	$1.72	0d	2	0.47mi
467 NW Meadows Dr McMinnville, OR	3.0	2.0	1278	$2,100	$1.64	46d	1	0.55mi
1302 SW Wright St McMinnville, OR	3.0	2.5	1763	$2,400	$1.36	46d	1	0.60mi
939 SW Fellows Ct McMinnville, OR	3.0	2.0	1729	$2,375	$1.37	46d	1	0.79mi
2280 NW Fendle Way McMinnville, OR	3.0	2.0	1473	$2,449	$1.66	46d	1	0.86mi
1809 NW 23rd St McMinnville, OR	3.0	2.5	1440	$2,200	$1.53	24d	1	0.87mi
417 SW Pemberly Loop McMinnville, OR	3.0	2.5	1700	$2,200	$1.29	46d	1	0.95mi
2372 NW Meadows Dr Unit 1550268P McMinnville, OR	3.0	2.0	1539	$2,954	$1.92	4d	1	0.95mi
1149 SW Brockwood Ave McMinnville, OR	3.0	2.0	1432	$3,600	$2.51	26d	1	1.02mi
982 SW Hawthorne St McMinnville, OR	3.0	2.0	1458	$2,375	$1.63	24d	1	1.05mi
1116 SE Millright Ave McMinnville, OR	3.0	2.5	1652	$2,300	$1.39	46d	1	1.32mi

Listing history 16 events

1. 2026-06-21
   days on market $100,000 Active 24 DOM
2. 2026-06-18
   days on market $100,000 Active 21 DOM
3. 2026-06-17
   days on market $100,000 Active 20 DOM
4. 2026-06-16
   days on market $100,000 Active 19 DOM
5. 2026-06-15
   days on market $100,000 Active 18 DOM
6. 2026-06-13
   days on market $100,000 Active 16 DOM
7. 2026-06-13
   days on market $100,000 Active 15 DOM
8. 2026-06-09
   days on market $100,000 Active 12 DOM
9. 2026-06-08
   days on market $100,000 Active 11 DOM
10. 2026-06-07
    days on market $100,000 Active 10 DOM
11. 2026-06-05
    days on market $100,000 Active 7 DOM
12. 2026-06-03
    days on market $100,000 Active 6 DOM
13. 2026-06-02
    days on market $100,000 Active 5 DOM
14. 2026-06-01
    days on market $100,000 Active 4 DOM
15. 2026-05-31
    days on market $100,000 Active 3 DOM
16. 2026-05-28
    listed $100,000 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: $519 · $43/mo
• Projected year-2 tax: $970 · $81/mo
• Expected delta: +$451/yr (+$38/mo · 86.9%)

ⓘ 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 ≥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: $30,015
• − Mortgage interest: −$5,602
• − Property taxes: −$519
• − Insurance: −$500
• − Repairs & maintenance: −$2,401
• − Management: −$2,401
• − Depreciation: −$2,909
• Taxable income: $15,683
• Est. tax owed @ 24.0%: −$3,764
• After-tax cash flow: $12,636/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

1 event — show timeline

• 2026-05-28 Listed $100,000 RMLS

Property tax history

+2.4%/yr

Latest (2025): $519 · +4.0% YoY. Source: county tax records.