2400 SE Stratus Ave #59 · McMinnville, OR 97128

$79,000

2 bd · 1.5 ba · 964 sqft · Manufactured public records · 27 Days on market

Built 1971 $875/mo HOA · 51% of rent

---

Why this score? — see what drove the C- 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 +14.8/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.8/10.0
• DSCR +4.5/10.0
• Livability +3.8/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move in ready! Affordable home ownership in this Excellent Location. Just off Highway 18 Bypass for Easy Access for commuting. Close to the Medical Center. This home has had Many Updates! In 2021 New Roof installed, New Furnace, New Heat and AC Pump. New Windows on the Main Home, New Vapor Barrier and Weatherization. New Insulation, Upgrades to Electrical, Exhaust Fans in Kitchen and Bathroom. New Carpet, Brand New Carpet in the bedroom. New Tile Surround in the bathroom. Vintage Vanity. This home is on one of the larger Spaces in this Park, it offers a Fenced Yard, Fruit Trees- Pear and Cherry and Flowers! & More Flowers! Lovely Privacy hedge in the front and on the side offers a little Privacy with a Covered front entry and Covered Carport. The home Boasts 2 bedrooms and 1.5 bathrooms, Open Floor plan with great light. Sunroom & bonus workshop space. Call today to get your showing Scheduled. Funding Options available (SPECIAL LENDER) * Possible Owner carry with approved Credit & Large Down Payment. Park approval. Space rent is $875.00 per month for New Owners. Call Now. One listing agent is related to the seller.

Key facts

• New furnace
• New heat and ac pump
• New roof installed

Tags

• NEW ROOF INSTALLED
• NEW FURNACE
• NEW HEAT AND AC PUMP
• NEW WINDOWS
• NEW VAPOR BARRIER
• NEW INSULATION

Property features AI

Finance

• Other: Lot rent listed as $875 monthly; Lot is level and on paved road
• HOA & community: Monthly park fee of $875; Located in Evergreen mobile park; Pet restrictions apply (breed restrictions); Zoning: R-4

Exterior

• Parking: Covered carport
• Utilities: Electric fuel; Public water; Public sewer
• Home design: Manufactured home in a park (residential); Unit dimensions approximately 56' x 14'; Territorial view
• Construction: Built in 1971; Aluminum exterior description; Pillar/post/pier foundation; Roof: other
• Exterior features: Fenced yard; Garden with raised beds; Porch; Storm door(s); Workshop; Public road access; Yard

Interior

• Kitchen: Country-style kitchen with eat bar; Dishwasher; Free-standing range; Free-standing refrigerator; Stainless steel appliances
• Bedrooms: Primary bedroom on main level with ensuite, closet, wainscoting, and wall-to-wall carpet; Second bedroom on main level with closet and wall-to-wall carpet
• Flooring: Wall-to-wall carpet
• Bathrooms: Total of 2 bathrooms (1 full and 1 partial)
• Heating & cooling: Forced air heating; Heat pump and exhaust fan for cooling
• Interior features: One-level layout with good natural lighting; Laundry area; Wainscoting; Built-in features; Vinyl-framed windows; Wall-to-wall carpet; Basement: other
• Laundry & utility: Laundry area included; Tank-style hot water

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $79k.

Deal economics

• At list price, monthly cash flow is $21 ($254/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $79k).
• Recommended offer: $78k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.6% 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: Patton Middle School (699 students, 66% FRL); Mcminnville High School (2,319 students, 38% FRL) — zoned schools at 52% FRL track the district average.
• Market conditions: Rents flat; 390 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $546 of loan paydown is wiped out by about $2k 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.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: HOA is 51% of rent.

Recommended offer $77,815 (1.5% below list)

Questions for the listing agent

1. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 2.19% ✓
• Cap rate: 6.61%
• Cash-on-cash: 1.15%
• DSCR: 1.05
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $52,056
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2400 SE Stratus Ave #78	0.00mi	2/1.0	924 (-4%)	21mo	$50,000	$54	74

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: -19.9%
• Equity multiple: 0.34×
• Total profit: $-14,698
• Equity at exit: $11,779

10-year hold

• IRR: -32.5%
• Equity multiple: -0.07×
• Total profit: $-23,730
• Equity at exit: $6,830

Cash invested: $22,120 (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: 390
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,729 high
• Mortgage (P&I): −$414
• Tax from tax record: −$23 /mo · $272/yr
• Insurance: −$33
• HOA: −$875
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $21

Break-even live

Break-even rent $1,702

Max offer price $79,000

Occupancy floor 94%

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
385 SE Norton Ln McMinnville, OR	2.0–3.0	2.0	1001	$1,670	$1.67	1d	10	0.19mi
1126 SE Rummel St Unit 1128 McMinnville, OR	2.0	1.0	1070	$1,795	$1.68	16d	1	1.01mi
1025 NE 1st St Unit 8 McMinnville, OR	2.0	1.0	940	$1,695	$1.80	43d	1	1.07mi
725 SE Ford St McMinnville, OR	2.0	1.0	775	$1,425	$1.84	1d	1	1.14mi
711 SE Ford St McMinnville, OR	2.0	1.0	864	$1,690	$1.96	1d	1	1.14mi
981 SE Ford St McMinnville, OR	2.0	1.0	840	$1,295	$1.54	1d	1	1.16mi
855 SE Ford St McMinnville, OR	1.0–2.0	1.0	725	$1,475	$2.03	1d	7	1.16mi
410 SE Debbie St Unit WES410 McMinnville, OR	2.0	1.0	998	$1,895	$1.90	43d	1	1.21mi
230 SE Evans St McMinnville, OR	2.0	1.0	900	$1,595	$1.77	1d	1	1.23mi
230 SE Evans St Unit 22 McMinnville, OR	2.0	1.0	900	$1,650	$1.83	43d	1	1.23mi
230 SE Evans St Unit 06 McMinnville, OR	2.0	1.0	900	$1,595	$1.77	43d	1	1.23mi
1020 NE 12th St McMinnville, OR	2.0	1.0	790	$1,600	$2.03	7d	1	1.46mi

HOA detail

• Monthly dues: $875 · $10,500/yr
• Likely covers: electric

Listing history 13 events

1. 2026-06-15
   statusdays on market $79,000 Pending 27 DOM
2. 2026-06-13
   days on market $79,000 Active 26 DOM
3. 2026-06-13
   days on market $79,000 Active 25 DOM
4. 2026-06-09
   days on market $79,000 Active 22 DOM
5. 2026-06-08
   days on market $79,000 Active 21 DOM
6. 2026-06-07
   days on market $79,000 Active 20 DOM
7. 2026-06-05
   days on market $79,000 Active 17 DOM
8. 2026-06-03
   days on market $79,000 Active 16 DOM
9. 2026-06-02
   days on market $79,000 Active 15 DOM
10. 2026-06-01
    days on market $79,000 Active 14 DOM
11. 2026-05-31
    days on market $79,000 Active 13 DOM
12. 2026-05-18
    listed $79,000 Active 1149-char remark

    Show marketing remark (1149 chars)

    Move in ready! Affordable home ownership in this Excellent Location. Just off Highway 18 Bypass for Easy Access for commuting. Close to the Medical Center. This home has had Many Updates! In 2021 New Roof installed, New Furnace, New Heat and AC Pump. New Windows on the Main Home, New Vapor Barrier and Weatherization. New Insulation, Upgrades to Electrical, Exhaust Fans in Kitchen and Bathroom. New Carpet, Brand New Carpet in the bedroom. New Tile Surround in the bathroom. Vintage Vanity. This home is on one of the larger Spaces in this Park, it offers a Fenced Yard, Fruit Trees- Pear and Cherry and Flowers! & More Flowers! Lovely Privacy hedge in the front and on the side offers a little Privacy with a Covered front entry and Covered Carport. The home Boasts 2 bedrooms and 1.5 bathrooms, Open Floor plan with great light. Sunroom & bonus workshop space. Call today to get your showing Scheduled. Funding Options available (SPECIAL LENDER) * Possible Owner carry with approved Credit & Large Down Payment. Park approval. Space rent is $875.00 per month for New Owners. Call Now. One listing agent is related to the seller.

13. 2026-05-18
    listed $79,000 Active

    Show marketing remark (1149 chars)

    Move in ready! Affordable home ownership in this Excellent Location. Just off Highway 18 Bypass for Easy Access for commuting. Close to the Medical Center. This home has had Many Updates! In 2021 New Roof installed, New Furnace, New Heat and AC Pump. New Windows on the Main Home, New Vapor Barrier and Weatherization. New Insulation, Upgrades to Electrical, Exhaust Fans in Kitchen and Bathroom. New Carpet, Brand New Carpet in the bedroom. New Tile Surround in the bathroom. Vintage Vanity. This home is on one of the larger Spaces in this Park, it offers a Fenced Yard, Fruit Trees- Pear and Cherry and Flowers! & More Flowers! Lovely Privacy hedge in the front and on the side offers a little Privacy with a Covered front entry and Covered Carport. The home Boasts 2 bedrooms and 1.5 bathrooms, Open Floor plan with great light. Sunroom & bonus workshop space. Call today to get your showing Scheduled. Funding Options available (SPECIAL LENDER) * Possible Owner carry with approved Credit & Large Down Payment. Park approval. Space rent is $875.00 per month for New Owners. Call Now. One listing agent is related to the seller.

ⓘ 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: $272 · $23/mo
• Projected year-2 tax: $766 · $64/mo
• Expected delta: +$494/yr (+$41/mo · 181.3%)

ⓘ 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 1/10 Low
• 🌡 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: $20,751
• − Mortgage interest: −$4,425
• − Property taxes: −$272
• − Insurance: −$395
• − Repairs & maintenance: −$1,660
• − Management: −$1,660
• − HOA: −$10,500
• − Depreciation: −$2,298
• Taxable loss: −$460
• Est. tax savings @ 24.0%: +$110
• After-tax cash flow: $365/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

+0.0% since first listed

2 events — show timeline

• 2026-05-18 Listed $79,000 RMLS
• 2026-05-18 Listed $79,000 OCMLS

Property tax history

+2.7%/yr

Latest (2025): $272 · +5.5% YoY. Source: county tax records.