503 SE Sheridan Rd #8 · Sheridan, OR 97378

$134,500

3 bd · 2.5 ba · 1,344 sqft · Manufactured public records · 271 Days on market

Built 1988 Est $259k · 48% 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
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• Schools +3.1/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Comfortable,1400 sqft Doublewide in 55 + Park.New Exterior paint 2017,NEW roof 2015, MaSTER BEDRM HAS a Glass slider DOOR TO an 8 X 20 covered back Deck , fenced back yard, Newer counter tops in Kitchen. Large Living Room & Dining area. All Kitchen Appliances & Washer & Dryer Stay.This Home is in Excellent condition and ready to occupy.

Key facts

• Replumbed bathrooms
• New walk in shower
• New deck

Tags

• NEW WALK IN SHOWER
• NEW HIGH SEAT TOILETS
• REPLUMBED BATHROOMS
• ACCESS PANELS IN MASTER CLOSET
• INSULATION RATED R-3
• NEW DECK

Property features AI

Finance

• Other: Zoning: R-2; Unit dimensions: 36' x 24' (model unit length and width)
• Financial info: Lot rent $645 monthly (rented space)
• HOA & community: Located in a 55+ senior community (Sheridan 55+ Senior Park); Park is well maintained and close to downtown

Exterior

• Parking: Detached carport (1 space); Driveway parking
• Utilities: Electric hot water; Electric fuel; Public water; Public sewer; Cable and other internet available
• Home design: Manufactured home in a park (Stratford model); Single-story (main living all on one level); Built in 1988; Seasonal, territorial views
• Construction: Composition roof; Pillar/post/pier foundation with skirting
• Exterior features: Covered deck; Porch; Fenced yard; Outbuilding / workshop; Tool shed; Yard; Wood composite exterior

Interior

• Kitchen: Dishwasher; Garbage disposal; Free-standing range; Free-standing refrigerator; Range hood; Pantry; Plumbed for ice maker; Solid surface countertops; Vinyl flooring
• Bedrooms: Primary bedroom on main level with deck access and sliding doors; Second bedroom on main level with walk-in closet; Third bedroom on main level
• Flooring: Vinyl flooring throughout main living areas
• Bathrooms: Two full bathrooms, both on the main level; Primary bath with double sinks and walk-in shower
• Heating & cooling: Heat pump for heating and cooling; Forced air heating
• Interior features: Ceiling fans; High ceilings; Vinyl flooring; Double-pane windows; One-level accessibility; Walk-in shower; Crawl space basement
• Laundry & utility: Utility room on main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath manufactured listed at $134k.

Deal economics

• At list price, monthly cash flow is $653 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $134k).
• Recommended offer: $118k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.1% vs local median 2.2% in Sheridan — 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 61/100 on livability (#261 in OR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety D+, amenities F.
• Sheridan SD 48J (town): math 29% / reading 38% proficiency, ranked #144 of 183 in OR (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Faulconer-Chapman School (482 students, 89% FRL); Sheridan High School (224 students, 148% FRL) — zoned schools average 119% FRL vs 58% district-wide (61 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 64 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $930 of loan paydown is wiped out by about $4k 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 + 3.0% rent growth), your $38k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 271 days — a 12% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y ago; this cycle's ask has dropped $50k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $54k; list at $134k implies a 149% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $118,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 271 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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.
6. 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.
7. 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: 1.39% ✓
• Cap rate: 12.12%
• Cash-on-cash: 20.80%
• DSCR: 1.93
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $259,392
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
560 NE Cherry Hill Rd	0.48mi	3/2.0	1,323 (-2%)	2mo	$180,000	$136	71
220 NE Hill St	0.33mi	3/2.0	1,296 (-4%)	7mo	$285,000	$220	71
503 SE Sheridan Rd #19	0.00mi	3/2.0	1,512 (+12%)	16mo	$139,900	$93	64
408 NE Faulconer St	0.58mi	3/2.0	1,404 (+4%)	1mo	$295,000	$210	63
221 NW Blair St #19	0.61mi	3/2.0	1,350 (+0%)	17mo	$200,000	$148	55
119 NW Sherman St	0.47mi	3/2.0	1,512 (+12%)	7mo	$292,000	$193	50
221 NW Blair St #15	0.61mi	3/2.0	1,400 (+4%)	17mo	$250,000	$179	49
570 NE Cherry Hill Rd	0.49mi	3/2.0	1,188 (-12%)	14mo	$233,500	$197	44
201 NE Blair St	0.53mi	3/2.0	1,188 (-12%)	14mo	$278,000	$234	42
221 NW Blair St #8	0.61mi	3/2.0	1,512 (+12%)	14mo	$265,000	$175	37
352 NE Faulconer Ct	0.49mi	3/2.0	1,152 (-14%)	20mo	$300,000	$260	35

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.2%
• Equity multiple: 1.52×
• Total profit: $19,751
• Equity at exit: $20,054

10-year hold

• IRR: 22.0%
• Equity multiple: 2.87×
• Total profit: $70,602
• Equity at exit: $11,629

Cash invested: $37,660 (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 97378

• Home prices YoY: -20.1%
• Active inventory: 64
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,876 high
• Mortgage (P&I): −$705
• Tax from tax record: −$67 /mo · $809/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $653

Break-even live

Break-even rent $1,049

Max offer price $134,500

Occupancy floor 60%

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: $33,625
• Closing costs: $4,035
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
535 SE Sheridan Rd Sheridan, OR	3.0	3.0	1230	$1,750	$1.42	1d	1	0.08mi
737 NE Sherman St Unit 103 Sheridan, OR	3.0	2.0	1206	$1,795	$1.49	14d	1	0.26mi
237 NE Cherry Hill Rd Sheridan, OR	3.0	2.5	1200	$1,875	$1.56	43d	1	0.28mi
755 SE Lacey St Sheridan, OR	4.0	3.0	1700	$2,300	$1.35	16d	1	0.34mi
357 NE Faulconer Ct Sheridan, OR	3.0	2.0	1310	$2,100	$1.60	1d	1	0.49mi

Listing history 11 events

1. 2026-05-02
   status Pending
2. 2026-02-04
   price $134,500
3. 2025-10-14
   price $145,000
4. 2025-09-10
   price $165,000
5. 2025-08-03
   listed $185,000 Active
6. 2019-07-16
   soldstatus $54,000 Sold 350-char remark

   Show marketing remark (350 chars)

   Comfortable,1400 sqft Doublewide in 55 + Park.New Exterior paint 2017,NEW roof 2015, MaSTER BEDRM HAS a Glass slider DOOR TO an 8 X 20 covered back Deck , fenced back yard, Newer counter tops in Kitchen. Large Living Room & Dining area. All Kitchen Appliances & Washer & Dryer Stay.This Home is in Excellent condition and ready to occupy.

7. 2019-06-14
   status Pending 350-char remark

   Show marketing remark (350 chars)

   Comfortable,1400 sqft Doublewide in 55 + Park.New Exterior paint 2017,NEW roof 2015, MaSTER BEDRM HAS a Glass slider DOOR TO an 8 X 20 covered back Deck , fenced back yard, Newer counter tops in Kitchen. Large Living Room & Dining area. All Kitchen Appliances & Washer & Dryer Stay.This Home is in Excellent condition and ready to occupy.

8. 2019-05-21
   price $59,000 350-char remark

   Show marketing remark (350 chars)

   Comfortable,1400 sqft Doublewide in 55 + Park.New Exterior paint 2017,NEW roof 2015, MaSTER BEDRM HAS a Glass slider DOOR TO an 8 X 20 covered back Deck , fenced back yard, Newer counter tops in Kitchen. Large Living Room & Dining area. All Kitchen Appliances & Washer & Dryer Stay.This Home is in Excellent condition and ready to occupy.

9. 2019-04-17
   listed $62,000 Active 350-char remark

   Show marketing remark (350 chars)

   Comfortable,1400 sqft Doublewide in 55 + Park.New Exterior paint 2017,NEW roof 2015, MaSTER BEDRM HAS a Glass slider DOOR TO an 8 X 20 covered back Deck , fenced back yard, Newer counter tops in Kitchen. Large Living Room & Dining area. All Kitchen Appliances & Washer & Dryer Stay.This Home is in Excellent condition and ready to occupy.

10. 2005-01-25
    historical
11. 2005-01-21
    listed $38,000

ⓘ 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: $809 · $67/mo
• Projected year-2 tax: $1,305 · $109/mo
• Expected delta: +$495/yr (+$41/mo · 61.2%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 24% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 12 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,506
• − Mortgage interest: −$7,534
• − Property taxes: −$809
• − Insurance: −$672
• − Repairs & maintenance: −$1,800
• − Management: −$1,800
• − Depreciation: −$3,913
• Taxable income: $5,976
• Est. tax owed @ 24.0%: −$1,434
• After-tax cash flow: $6,400/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: Sheridan SD 48J
• NCES district ID: 4111220
• Math proficiency: 29% ▲ 5.00%
• Reading proficiency: 38% ▲ 3.00%
• Median HH income: $46,226
• Composite: 31.42/100
• National rank: #11203
• State rank: #144 of 183 in OR

Livability — Sheridan

• Score: 61/100
• State rank: #261
• US rank: #17658

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sheridan, OR
• Population (ZIP): 9,613

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 12% Two or more races 6% Black 3% Native American 2% Asian 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 3% Italian 3% Portuguese 2%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 93% English-only · Spanish 5%

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: ▼ -90.42%
• Current HPI: 359.9468
• Rent YoY: —
• Metro: —
• 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

+253.9% since first listed

11 events — show timeline

• 2026-05-02 Pending — RMLS
• 2026-02-04 Price Changed $134,500 RMLS
• 2025-10-14 Price Changed $145,000 RMLS
• 2025-09-10 Price Changed $165,000 RMLS
• 2025-08-03 Listed $185,000 RMLS
• 2019-07-16 Sold (MLS) $54,000 RMLS
• 2019-06-14 Pending — RMLS
• 2019-05-21 Price Changed $59,000 RMLS
• 2019-04-17 Listed $62,000 RMLS
• 2005-01-25 Listing Removed — WVMLS
• 2005-01-21 Listed $38,000 WVMLS

Property tax history

+0.7%/yr

Latest (2025): $809 · +8.9% YoY. Source: county tax records.