17629 NW Shady Fir Loop

Beaverton, OR 97006

$224,900D

2 bd · 2.0 ba · 1,216 sqft · Built 1996 · Manufactured · Active · 76 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,894/mo
• Mortgage (P&I): −$1,179
• Tax + insurance: −$375
• HOA: −$0
• Vac / Maint / Mgmt: −$398
• Net cashflow: $-58/mo
• Annual: $-699/yr
• Cap rate: 5.98%
• Cash-on-cash: -1.11%
• DSCR: 0.95
• 1% rule: 0.84%
• Cash to close: $62,972

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $225k. Condition is rated good.
• At list price, monthly cash flow is $-58 ($-699/yr) — negative.
• To cash-flow at today's rent, offer at most $216k (3.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $189k (15.8% below list).
• It's been on market 76 days — a 6% lower offer ($211k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $189k (15.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 88/100 on livability (#10 in OR, #251 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: crime D, cost of living F.
• Beaverton SD 48J (urban): math 68% / reading 76% proficiency, ranked #3 of 58 in OR (top 5%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Elmonica Elementary School (math 64% / reading 84%, grade A, #23 of 412 statewide, top 7%, 413 students, 41% FRL); Five Oaks Middle School (math 44% / reading 74%, grade B, #17 of 128 statewide, top 14%, 781 students, 49% FRL); Westview High School (math 75% / reading 75%, grade A-, #2 of 143 statewide, top 6%, 2,442 students, 29% FRL).
• Market conditions: Rents soft (-1.6%/yr); 245 active listings in the ZIP; 40 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; 2,224 units permitted in Washington County in 2024 (242 in 5+ unit buildings).
• Washington County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 6.0% vs local median 2.3% in Beaverton — 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 76 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.