3910 S Santiam Hwy · South Lebanon, OR 97355

$180,000

2 bd · 1.0 ba · 1,260 sqft · Other public records · 46 Days on market

Built 1940 0.46 ac lot $143/sqft · 57% below area Est $360k · 50% under

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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 +21.3/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +5.6/10.0
• Rent growth +3.6/5.0
• Schools +3.0/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment opportunity on a spacious 0.46-acre lot in the heart of Lebanon! This 1,074 sq. ft. home is a blank canvas ready for your vision and updates. Positioned for convenience with easy access to town, shopping, Hwy 20, and Hwy 34, it perfectly balances rural appeal with city proximity. The property is equipped with a well and two septic systems (buyer to verify condition). An older manufactured home is on-site but holds no value. Sold strictly AS-IS; Seller will not do any repairs. Buyer to perform all due diligence regarding land use and assume responsibility for debris/personal property removal. Cash, or rehab loans. Don't miss this high-potential project!

Key facts

• Easy access to town
• Two septic systems
• Well

Tags

• SPACIOUS LOT
• EASY ACCESS TO TOWN
• WELL
• TWO SEPTIC SYSTEMS
• HIGH POTENTIAL PROJECT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $180k.

Deal economics

• At list price, monthly cash flow is $265 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $175k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#280 in OR) — a middle-class / working-renter tenant base. Strengths: housing A+; Watch: health & safety C-, schools D, crime D.
• Lebanon Community SD 9 (town): math 27% / reading 43% proficiency, ranked #26 of 58 in OR (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.5%/yr); 246 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 311 units permitted in Linn County in 2024 (60 in 5+ unit buildings).
• This rent runs 33% of the median local income ($69k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Linn County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $35k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $88k; list at $180k implies a 106% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $174,600 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
6. 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.
7. 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.
8. 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: 1.06% ✓
• Cap rate: 8.06%
• Cash-on-cash: 6.31%
• DSCR: 1.28
• GRM: 7.9

CMA / ARV

• ARV (median comp): $359,988
• List price: $180,000
• Delta: -50.00%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.55% rent growth · sell at horizon

5-year hold

• IRR: -4.8%
• Equity multiple: 0.82×
• Total profit: $-9,234
• Equity at exit: $26,839

10-year hold

• IRR: 6.6%
• Equity multiple: 1.53×
• Total profit: $26,624
• Equity at exit: $15,563

Cash invested: $50,400 (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 97355

• Rents YoY: 4.5%
• Active inventory: 246
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,910 high
• Mortgage (P&I): −$944
• Tax est. 1.5%: −$225 /mo · $2,700/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$401
• Net cashflow: $265

Break-even live

Break-even rent $1,575

Max offer price $180,000

Occupancy floor 81%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
362 Seven Oaks Ln Lebanon, OR	3.0	2.5	1513	$2,250	$1.49	43d	2	0.14mi
3463 Snow Bird Dr Lebanon, OR	2.0	2.0	1621	$2,200	$1.36	43d	1	0.81mi
86 Weldwood Dr Lebanon, OR	2.0	2.0	1222	$1,650	$1.35	43d	1	0.84mi
26 Sand Ridge Ct Lebanon, OR	3.0	2.5	1696	$2,345	$1.38	43d	1	1.05mi
2656 S Main Rd #107 Lebanon, OR	3.0	2.5	1402	$1,950	$1.39	43d	1	1.18mi
300 Sand Ridge Ct Lebanon, OR	1.0–2.0	1.0–2.0	944	$1,525	$1.61	43d	6	1.23mi
2180 Franklin St Lebanon, OR	1.0–2.0	1.0–2.0	862	$1,695	$1.97	43d	6	1.24mi
E Airport Rd Lebanon, OR	1.0–3.0	1.0–2.0	993	$1,710	$1.72	43d	14	1.40mi

Listing history 28 events

1. 2026-06-19
   days on market $180,000 Active 46 DOM
2. 2026-06-18
   days on market $180,000 Active 45 DOM
3. 2026-06-17
   days on market $180,000 Active 44 DOM
4. 2026-06-16
   days on market $180,000 Active 43 DOM
5. 2026-06-15
   days on market $180,000 Active 42 DOM
6. 2026-06-14
   days on market $180,000 Active 40 DOM
7. 2026-06-13
   days on market $180,000 Active 39 DOM
8. 2026-06-10
   days on market $180,000 Active 37 DOM
9. 2026-06-09
   days on market $180,000 Active 36 DOM
10. 2026-06-08
    days on market $180,000 Active 35 DOM
11. 2026-06-07
    days on market $180,000 Active 34 DOM
12. 2026-06-03
    days on market $180,000 Active 30 DOM
13. 2026-06-02
    days on market $180,000 Active 29 DOM
14. 2026-06-01
    days on market $180,000 Active 28 DOM
15. 2026-05-31
    days on market $180,000 Active 27 DOM
16. 2026-05-30
    days on market $180,000 Active 26 DOM
17. 2026-05-08
    status Active 677-char remark

    Show marketing remark (677 chars)

    Great investment opportunity on a spacious 0.46-acre lot in the heart of Lebanon! This 1,074 sq. ft. home is a blank canvas ready for your vision and updates. Positioned for convenience with easy access to town, shopping, Hwy 20, and Hwy 34, it perfectly balances rural appeal with city proximity. The property is equipped with a well and two septic systems (buyer to verify condition). An older manufactured home is on-site but holds no value. Sold strictly AS-IS; Seller will not do any repairs. Buyer to perform all due diligence regarding land use and assume responsibility for debris/personal property removal. Cash, or rehab loans. Don't miss this high-potential project!

18. 2026-05-08
    price $180,000 677-char remark

    Show marketing remark (677 chars)

    Great investment opportunity on a spacious 0.46-acre lot in the heart of Lebanon! This 1,074 sq. ft. home is a blank canvas ready for your vision and updates. Positioned for convenience with easy access to town, shopping, Hwy 20, and Hwy 34, it perfectly balances rural appeal with city proximity. The property is equipped with a well and two septic systems (buyer to verify condition). An older manufactured home is on-site but holds no value. Sold strictly AS-IS; Seller will not do any repairs. Buyer to perform all due diligence regarding land use and assume responsibility for debris/personal property removal. Cash, or rehab loans. Don't miss this high-potential project!

19. 2026-05-08
    price $180,000 677-char remark

    Show marketing remark (677 chars)

    Great investment opportunity on a spacious 0.46-acre lot in the heart of Lebanon! This 1,074 sq. ft. home is a blank canvas ready for your vision and updates. Positioned for convenience with easy access to town, shopping, Hwy 20, and Hwy 34, it perfectly balances rural appeal with city proximity. The property is equipped with a well and two septic systems (buyer to verify condition). An older manufactured home is on-site but holds no value. Sold strictly AS-IS; Seller will not do any repairs. Buyer to perform all due diligence regarding land use and assume responsibility for debris/personal property removal. Cash, or rehab loans. Don't miss this high-potential project!

20. 2026-05-07
    status Active 677-char remark

    Show marketing remark (677 chars)

    Great investment opportunity on a spacious 0.46-acre lot in the heart of Lebanon! This 1,074 sq. ft. home is a blank canvas ready for your vision and updates. Positioned for convenience with easy access to town, shopping, Hwy 20, and Hwy 34, it perfectly balances rural appeal with city proximity. The property is equipped with a well and two septic systems (buyer to verify condition). An older manufactured home is on-site but holds no value. Sold strictly AS-IS; Seller will not do any repairs. Buyer to perform all due diligence regarding land use and assume responsibility for debris/personal property removal. Cash, or rehab loans. Don't miss this high-potential project!

21. 2026-04-13
    status Pending 677-char remark

    Show marketing remark (677 chars)

    Great investment opportunity on a spacious 0.46-acre lot in the heart of Lebanon! This 1,074 sq. ft. home is a blank canvas ready for your vision and updates. Positioned for convenience with easy access to town, shopping, Hwy 20, and Hwy 34, it perfectly balances rural appeal with city proximity. The property is equipped with a well and two septic systems (buyer to verify condition). An older manufactured home is on-site but holds no value. Sold strictly AS-IS; Seller will not do any repairs. Buyer to perform all due diligence regarding land use and assume responsibility for debris/personal property removal. Cash, or rehab loans. Don't miss this high-potential project!

22. 2026-04-13
    historical Active under Contract 677-char remark

    Show marketing remark (677 chars)

    Great investment opportunity on a spacious 0.46-acre lot in the heart of Lebanon! This 1,074 sq. ft. home is a blank canvas ready for your vision and updates. Positioned for convenience with easy access to town, shopping, Hwy 20, and Hwy 34, it perfectly balances rural appeal with city proximity. The property is equipped with a well and two septic systems (buyer to verify condition). An older manufactured home is on-site but holds no value. Sold strictly AS-IS; Seller will not do any repairs. Buyer to perform all due diligence regarding land use and assume responsibility for debris/personal property removal. Cash, or rehab loans. Don't miss this high-potential project!

23. 2026-04-10
    price $215,000 677-char remark

    Show marketing remark (677 chars)

    Great investment opportunity on a spacious 0.46-acre lot in the heart of Lebanon! This 1,074 sq. ft. home is a blank canvas ready for your vision and updates. Positioned for convenience with easy access to town, shopping, Hwy 20, and Hwy 34, it perfectly balances rural appeal with city proximity. The property is equipped with a well and two septic systems (buyer to verify condition). An older manufactured home is on-site but holds no value. Sold strictly AS-IS; Seller will not do any repairs. Buyer to perform all due diligence regarding land use and assume responsibility for debris/personal property removal. Cash, or rehab loans. Don't miss this high-potential project!

24. 2026-04-09
    listed $215,000 Active 677-char remark

    Show marketing remark (677 chars)

    Great investment opportunity on a spacious 0.46-acre lot in the heart of Lebanon! This 1,074 sq. ft. home is a blank canvas ready for your vision and updates. Positioned for convenience with easy access to town, shopping, Hwy 20, and Hwy 34, it perfectly balances rural appeal with city proximity. The property is equipped with a well and two septic systems (buyer to verify condition). An older manufactured home is on-site but holds no value. Sold strictly AS-IS; Seller will not do any repairs. Buyer to perform all due diligence regarding land use and assume responsibility for debris/personal property removal. Cash, or rehab loans. Don't miss this high-potential project!

25. 2026-03-21
    price $285,000 677-char remark

    Show marketing remark (677 chars)

    Great investment opportunity on a spacious 0.46-acre lot in the heart of Lebanon! This 1,074 sq. ft. home is a blank canvas ready for your vision and updates. Positioned for convenience with easy access to town, shopping, Hwy 20, and Hwy 34, it perfectly balances rural appeal with city proximity. The property is equipped with a well and two septic systems (buyer to verify condition). An older manufactured home is on-site but holds no value. Sold strictly AS-IS; Seller will not do any repairs. Buyer to perform all due diligence regarding land use and assume responsibility for debris/personal property removal. Cash, or rehab loans. Don't miss this high-potential project!

26. 2025-12-18
    listed $315,000 Active 677-char remark

    Show marketing remark (677 chars)

    Great investment opportunity on a spacious 0.46-acre lot in the heart of Lebanon! This 1,074 sq. ft. home is a blank canvas ready for your vision and updates. Positioned for convenience with easy access to town, shopping, Hwy 20, and Hwy 34, it perfectly balances rural appeal with city proximity. The property is equipped with a well and two septic systems (buyer to verify condition). An older manufactured home is on-site but holds no value. Sold strictly AS-IS; Seller will not do any repairs. Buyer to perform all due diligence regarding land use and assume responsibility for debris/personal property removal. Cash, or rehab loans. Don't miss this high-potential project!

27. 1994-06-28
    soldstatus $87,500
28. 1992-09-25
    soldstatus $65,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥91°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 11 unhealthy d/yr today · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,921
• − Mortgage interest: −$10,083
• − Property taxes: −$2,700
• − Insurance: −$900
• − Repairs & maintenance: −$1,834
• − Management: −$1,834
• − Depreciation: −$5,236
• Taxable income: $335
• Est. tax owed @ 24.0%: −$80
• After-tax cash flow: $3,100/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: Lebanon Community SD 9
• NCES district ID: 4107380
• Math proficiency: 27% ▼ -10.00%
• Reading proficiency: 43% ▼ -4.00%
• Median HH income: $45,264
• Composite: 29.83/100
• National rank: #6418
• State rank: #26 of 58 in OR

Livability — South Lebanon

• Score: 60/100
• State rank: #280
• US rank: #18823

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Lebanon, OR
• County: Linn County · 70,700 people
• Metro: Albany-Lebanon, OR
• Population (ZIP): 34,292
• Household income: $68,595
• Rent vs Own: 31.7% rent · 68.3% own
• Severe rent burden: 1051.0

Population outlook (Linn County) Hauer SSP2

• Today (2025): 127,026 people
• By 2030: 129,540 · +2.0%
• By 2040: 132,780 · +4.5%
• By 2050: 133,614 · +5.2%
• By 2075: 129,061 · +1.6%
• By 2100: 112,224 · -11.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 7% Two or more races 7%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 5% Slovak 3% Portuguese 3%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5% French/Haitian/Cajun 1%

Political lean MEDSL · Linn

• 2024 margin: Strong R (+24.4) · D 36.2% · R 60.6% · Other 3.1%
• 2008→2024 swing: -13.0pp toward R · 2008: -11.4pp · 2024: -24.4pp
• All cycles: 2024: R+24.4 2020: R+23.4 2016: R+27.8 2012: R+17.2 2008: R+11.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -528.42%
• Current HPI: 221.8977
• Rent YoY: ▲ 4.55%
• Metro: Albany-Lebanon, 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

+176.9% since first listed

12 events — show timeline

• 2026-05-08 Relisted — RMLS
• 2026-05-08 Price Changed $180,000 RMLS
• 2026-05-08 Price Changed $180,000 WVMLS
• 2026-05-07 Relisted — WVMLS
• 2026-04-13 Pending — RMLS
• 2026-04-13 Contingent — WVMLS
• 2026-04-10 Price Changed $215,000 WVMLS
• 2026-04-09 Listed $215,000 RMLS
• 2026-03-21 Price Changed $285,000 WVMLS
• 2025-12-18 Listed $315,000 WVMLS
• 1994-06-28 Sold (Public Records) $87,500 Public Records
• 1992-09-25 Sold (Public Records) $65,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $351 · +2.6% YoY. Source: county tax records.