1150 Hemlock St Unit B8 · Florence, OR 97439

$255,000

2 bd · 1.5 ba · 1,004 sqft · Condo public records · 22 Days on market

Built 2004 $254/sqft · at area comps Est $260k · at est. $150/mo HOA · 9% of rent

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Why this score? — see what drove the D 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).

• Appreciation +10.0/10.0
• ARV discount +8.4/15.0
• Cash flow +7.0/30.0
• Schools +3.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• DSCR +1.2/10.0

Listing remarks

Enjoy this bright corner-unit condo with extra windows that bring in plenty of natural light. The kitchen comes fully equipped with all appliances included, plus a nearly new refrigerator. Upstairs offers two bedrooms, a full bath, and the convenience of an included washer and dryer in the bathroom. Relax in the private backyard space with an additional side yard and gated access. A storage unit in the complex is also included. Conveniently located close to the beach, hospital and town amenities as well as the 12th st bike path and green space.

Key facts

• Gated access
• Corner-unit condo
• Storage unit

Tags

• CORNER-UNIT CONDO
• EXTRA WINDOWS
• PRIVATE BACKYARD SPACE
• SIDE YARD
• GATED ACCESS
• STORAGE UNIT

Property features AI

Finance

• Other: Condominium parking is deeded and assigned; Move-in/out fee and rent policy unknown
• HOA & community: HOA with exterior maintenance and common area upkeep; HOA fee $150 per month; Condo complex of 24 units; Yard available to the condominium; Assigned storage available (storage unit #8); Pets allowed (per association rules); Smoking policy in effect

Exterior

• Parking: Deeded parking (space B8); Deeded garage (detached)
• Utilities: Public water; Public sewer; Electric service
• Home design: Residential condominium; Townhouse floor plan; Not attached; Two stories; Unit located on main level; No view
• Construction: Built in 2004; Composition roof
• Exterior features: T-111 siding; Level lot; Paved road access

Interior

• Kitchen: Built-in range; Dishwasher; Microwave
• Bedrooms: Primary bedroom (upper level); Second bedroom (upper level)
• Bathrooms: One full bathroom on the upper level; One partial bathroom on the main level; Two total bathrooms
• Heating & cooling: Zoned heating; No central cooling
• Interior features: Dining room; Family room; Living room; Great room
• Laundry & utility: Electric hot water

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $255k.

Deal economics

• At list price, monthly cash flow is $-374 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $189k (25.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $176k (31.0% below list).
• Recommended offer: $176k (31.0% below list) — sets the bar for 1% rule.
• Cap rate 4.5% vs local median 2.6% in Florence — 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 70/100 on livability (#142 in OR) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing A, crime A-; Watch: employment C-, amenities F, commute F.
• Siuslaw SD 97J (town): math 33% / reading 50% proficiency, ranked #106 of 183 in OR (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Siuslaw Elementary School (math 22% / reading 37%, grade F, #263 of 412 statewide, top 68%, 520 students, 68% FRL); Siuslaw Middle School (math 15% / reading 37%, grade F, #101 of 128 statewide, top 80%, 270 students, 68% FRL); Siuslaw High School (math 24% / reading 75%, grade D+, #32 of 143 statewide, top 34%, 459 students, 68% FRL).
• Market conditions: 416 active listings in the ZIP; 1,808 units permitted in Lane County in 2024 (972 in 5+ unit buildings).

Forward outlook

• In year one you build about $27k of equity ($2k loan paydown + $26k appreciation (10.0% local appreciation)).
• Lane County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$44k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($251k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $140k; list at $255k implies a 82% gain — meaningful room to come down on a strong offer.

Recommended offer $175,869 (31.0% below list)

Questions for the listing agent

1. 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?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.69% ✗
• Cap rate: 4.53%
• Cash-on-cash: -6.29%
• DSCR: 0.72
• GRM: 12.1

CMA / ARV

• ARV (median comp): $260,383
• List price: $255,000
• Delta: -2.07%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.8%
• Equity multiple: 2.61×
• Total profit: $115,061
• Equity at exit: $229,724

10-year hold

• IRR: 18.2%
• Equity multiple: 6.01×
• Total profit: $357,643
• Equity at exit: $495,409

Cash invested: $71,400 (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 97439

• Home prices YoY: 2.5%
• Active inventory: 416
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $1,759 medium
• Mortgage (P&I): −$1,337
• Tax from tax record: −$170 /mo · $2,043/yr
• Insurance: −$106
• HOA: −$150
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $-374

Break-even live

Break-even rent $2,233

Max offer price $188,860

Occupancy floor —

Sensitivity live

Price	-10% $-230	-5% $-302	+0% $-374	+5% $-447	+10% $-519
Rent	-10% $-513	-5% $-444	+0% $-374	+5% $-305	+10% $-235
Rate	-1.0pp $-246	-0.5pp $-310	base $-374	+0.5pp $-440	+1.0pp $-508

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: $63,750
• Closing costs: $7,650
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $150 · $1,800/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-06-07
   statusdays on market $255,000 Pending 22 DOM
2. 2026-06-04
   days on market $255,000 Active 19 DOM
3. 2026-06-02
   days on market $255,000 Active 18 DOM
4. 2026-06-01
   days on market $255,000 Active 17 DOM
5. 2026-05-31
   days on market $255,000 Active 16 DOM
6. 2026-05-15
   listed $255,000 Active 550-char remark
7. 2018-07-31
   soldstatus $140,000

ⓘ 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: $2,043 · $170/mo
• Projected year-2 tax: $2,474 · $206/mo
• Expected delta: +$430/yr (+$36/mo · 21.1%)

ⓘ 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 1/10 Low 7 d/yr ≥77°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,104
• − Mortgage interest: −$14,284
• − Property taxes: −$2,043
• − Insurance: −$1,275
• − Repairs & maintenance: −$1,688
• − Management: −$1,688
• − HOA: −$1,800
• − Depreciation: −$7,418
• Taxable loss: −$9,093
• Est. tax savings @ 24.0%: +$2,182
• After-tax cash flow: $-2,311/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: Siuslaw SD 97J
• NCES district ID: 4105100
• Math proficiency: 33% ▼ -3.00%
• Reading proficiency: 50% ▼ -2.00%
• Median HH income: $36,892
• Composite: 36.82/100
• National rank: #9169
• State rank: #106 of 183 in OR

Livability — Florence

• Score: 70/100
• State rank: #142
• US rank: #8094

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Florence, OR
• Population (ZIP): 15,643

Population outlook (Lane County) Hauer SSP2

• Today (2025): 391,933 people
• By 2030: 405,860 · +3.6%
• By 2040: 429,386 · +9.6%
• By 2050: 452,016 · +15.3%
• By 2075: 508,825 · +29.8%
• By 2100: 531,208 · +35.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 5% Two or more races 5% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 4% Portuguese 3% Slovak 3%
• Foreign-born: 5% · Canada, China
• Languages at home: 96% English-only · Spanish 1% German/W. Germanic 1% Other Asian/Pacific 1%

Political lean MEDSL · Lane

• 2024 margin: Strong D (+23.1) · D 60.0% · R 36.9% · Other 3.1%
• 2008→2024 swing: -4.3pp toward R · 2008: 27.4pp · 2024: 23.1pp
• All cycles: 2024: D+23.1 2020: D+24.3 2016: D+18.9 2012: D+23.4 2008: D+27.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 17.79%
• Current HPI: 717.84
• 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

+82.1% since first listed

3 events — show timeline

• 2026-06-06 Pending — RMLS
• 2026-05-15 Listed $255,000 RMLS
• 2018-07-31 Sold (Public Records) $140,000 Public Records

Property tax history

+2.6%/yr

Latest (2025): $2,043 · +3.0% YoY. Source: county tax records.