349 W Pine St · Central Point, OR 97502

$2,950,000

None bd · None ba · 17,920 sqft · MultiFamily public records · 436 Days on market

Built 1973 Average condition 1.35 ac lot $165/sqft · 12% above area Est $3.238M · 9% 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 +29.2/30.0
• ARV discount +11.5/15.0
• DSCR +10.0/10.0
• 1% rule +7.3/10.0
• Livability +4.5/5.0
• Rent growth +3.6/5.0
• Schools +3.5/10.0
• Condition / age +2.8/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

20 unit apartment complex, recreation room, inground pool. Units are single level flats with 2 bedrooms, 1 bath, electric baseboard or ceiling cable heat, wall air conditioner. patio or deck. Rental rates range from $745 to $ 1,095 per month. Tenants are also responsible for their portion of water and sewer expenses which ranges from $45 to $60 per month. There are 5 two story buildings with 4 units in each building. Each unit has approximately 896 square feet. Rental rates produce monthly gross rents of $19,496 and $944 reimbursement for water and sewer. Tenants each have 2 parking spaces.

Key facts

• Recreation room
• Inground pool
• Patio or deck

Tags

• RECREATION ROOM
• INGROUND POOL
• PATIO OR DECK

What this means for you Summary

Snapshot

• This is a 20 × 2-bed/1-bath units multifamily listed at $2.95M. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $10k ($118k/yr) — positive. Per door: $493/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($36k rent vs $2.95M).
• Recommended offer: $2.60M (12.0% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 2.9% in Central Point — 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 90/100 on livability (#3 in OR, #92 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+.
• Central Point SD 6 (suburban): math 19% / reading 41% proficiency, ranked #42 of 58 in OR (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Richardson Elementary School (math 22% / reading 27%, grade F, #320 of 412 statewide, top 82%, 517 students, 42% FRL); Scenic Middle School (math 19% / reading 41%, grade F, #84 of 128 statewide, top 66%, 844 students, 58% FRL); Crater School of Business Innovation And Science (math 44% / reading 84%, grade B-, #16 of 143 statewide, top 12%, 496 students, 39% FRL) — zoned schools at 46% FRL track the district average.
• Market conditions: Rents rising fast (+4.3%/yr); 270 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals lingering (median 93d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 904 units permitted in Jackson County in 2024 (212 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $20k of loan paydown is wiped out by about $88k of value loss. Plan a longer hold.
• Jackson County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 4.3% rent growth), your $826k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 436 days — a 12% lower offer ($2.60M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $422k; list at $2.95M implies a 599% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wildfire risk; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $2,596,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 436 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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.
9. 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.
10. 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: 1.23% ✓
• Cap rate: 10.48%
• Cash-on-cash: 14.95%
• DSCR: 1.67
• GRM: 6.8

CMA / ARV

• ARV (median comp): $3,238,453
• List price: $2,950,000
• Delta: -8.91%
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
450 Alder St	0.56mi	—/—	19,200 (+7%)	59mo	$2,900,000	$151	42

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 · 4.33% rent growth · sell at horizon

5-year hold

• IRR: 6.1%
• Equity multiple: 1.24×
• Total profit: $198,997
• Equity at exit: $439,855

10-year hold

• IRR: 16.6%
• Equity multiple: 2.44×
• Total profit: $1,188,173
• Equity at exit: $255,062

Cash invested: $826,000 (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 97502

• Rents YoY: 4.3%
• Active inventory: 270
• Price-to-rent: 135.4×

Monthly cashflow live

• Estimated rent: $36,325 high
• Mortgage (P&I): −$15,470
• Tax from tax record: −$1,708 /mo · $20,495/yr
• Insurance: −$1,229
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$7,628
• Net cashflow: $9,863

20-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 20× units	2	1	$36,320
Total (20 units)			$36,325

Break-even live

Break-even rent $23,840

Max offer price $2,950,000

Occupancy floor 68%

Sensitivity live

Price	-10% $11,533	-5% $10,698	+0% $9,863	+5% $9,028	+10% $8,193
Rent	-10% $6,993	-5% $8,428	+0% $9,863	+5% $11,298	+10% $12,733
Rate	-1.0pp $11,349	-0.5pp $10,613	base $9,863	+0.5pp $9,099	+1.0pp $8,321

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: $737,500
• Closing costs: $88,500
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
283 Tyler Ave Central Point, OR	2.0	2.5	1425	$2,000	$1.40	62d	1	0.19mi
362 Jans Ct Central Point, OR	3.0	2.5	1592	$1,775	$1.11	70d	1	0.24mi
324 Cheney Loop Central Point, OR	2.0	2.0	1283	$1,500	$1.17	62d	1	0.32mi
25 Donna Way Unit 1 Central Point, OR	1.0	1.0	—	$795	—	62d	1	0.34mi
25 Donna Way Unit 2 Central Point, OR	1.0	1.0	150	$675	$4.50	93d	1	0.34mi
549 Glenn Way Central Point, OR	3.0	2.0	1078	$2,100	$1.95	93d	1	0.41mi
20 S 8th St Unit I Central Point, OR	1.0	1.0	—	$1,004	—	93d	1	0.70mi
50 S 9th St #4 Central Point, OR	2.0	1.0	1100	$1,335	$1.21	62d	1	0.73mi
617 Valley Heart Ln Unit 619 Central Point, OR	3.0	2.0	1162	$1,595	$1.37	70d	1	0.78mi
608 Shadow Way Central Point, OR	3.0	2.5	1750	$2,100	$1.20	70d	1	0.79mi
501 Briarwood Dr Central Point, OR	2.0	2.0	880	$1,325	$1.51	62d	1	0.99mi
501 Briarwood Dr Central Point, OR	2.0	2.0	880	$1,325	$1.51	93d	1	1.00mi
1405 N Haskell St Central Point, OR	3.0	2.0	1782	$2,495	$1.40	93d	1	1.05mi
565 Primrose Dr Central Point, OR	2.0	2.0	1100	$2,300	$2.09	93d	1	1.09mi
563 Primrose Dr Central Point, OR	2.0	2.0	1100	$2,300	$2.09	93d	1	1.09mi
525 Primrose Dr Central Point, OR	2.0	2.0	1100	$2,300	$2.09	93d	1	1.09mi
1240 Vista Dr Central Point, OR	3.0	1.0	1188	$1,675	$1.41	93d	1	1.14mi
935 Fairfield Cir Central Point, OR	3.0	2.0	1537	$2,495	$1.62	70d	1	1.25mi

Listing history 50 events

1. 2026-08-08
   days on market $2,950,000 Active 436 DOM
2. 2026-08-07
   days on market $2,950,000 Active 435 DOM
3. 2026-08-06
   days on market $2,950,000 Active 434 DOM
4. 2026-08-05
   days on market $2,950,000 Active 433 DOM
5. 2026-08-04
   days on market $2,950,000 Active 432 DOM
6. 2026-08-03
   days on market $2,950,000 Active 431 DOM
7. 2026-07-31
   days on market $2,950,000 Active 428 DOM
8. 2026-07-30
   days on market $2,950,000 Active 427 DOM
9. 2026-07-29
   days on market $2,950,000 Active 426 DOM
10. 2026-07-27
    days on market $2,950,000 Active 424 DOM
11. 2026-07-25
    days on market $2,950,000 Active 422 DOM
12. 2026-07-23
    days on market $2,950,000 Active 420 DOM
13. 2026-07-22
    days on market $2,950,000 Active 419 DOM
14. 2026-07-21
    days on market $2,950,000 Active 418 DOM
15. 2026-07-18
    days on market $2,950,000 Active 415 DOM
16. 2026-07-16
    days on market $2,950,000 Active 413 DOM
17. 2026-07-16
    days on market $2,950,000 Active 412 DOM
18. 2026-07-14
    days on market $2,950,000 Active 411 DOM
19. 2026-07-13
    days on market $2,950,000 Active 410 DOM
20. 2026-07-12
    days on market $2,950,000 Active 409 DOM
21. 2026-07-11
    days on market $2,950,000 Active 408 DOM
22. 2026-07-10
    days on market $2,950,000 Active 407 DOM
23. 2026-07-09
    days on market $2,950,000 Active 406 DOM
24. 2026-07-08
    days on market $2,950,000 Active 405 DOM
25. 2026-07-07
    days on market $2,950,000 Active 404 DOM
26. 2026-07-06
    days on market $2,950,000 Active 403 DOM
27. 2026-07-06
    days on market $2,950,000 Active 402 DOM
28. 2026-07-04
    days on market $2,950,000 Active 401 DOM
29. 2026-07-03
    days on market $2,950,000 Active 400 DOM
30. 2026-07-02
    days on market $2,950,000 Active 399 DOM
31. 2026-07-01
    days on market $2,950,000 Active 398 DOM
32. 2026-06-30
    days on market $2,950,000 Active 397 DOM
33. 2026-06-29
    days on market $2,950,000 Active 396 DOM
34. 2026-06-28
    days on market $2,950,000 Active 395 DOM
35. 2026-06-28
    days on market $2,950,000 Active 394 DOM
36. 2026-06-27
    days on market $2,950,000 Active 393 DOM
37. 2026-06-25
    days on market $2,950,000 Active 391 DOM
38. 2026-06-23
    days on market $2,950,000 Active 389 DOM
39. 2026-06-22
    days on market $2,950,000 Active 388 DOM
40. 2026-06-19
    days on market $2,950,000 Active 386 DOM
41. 2026-06-18
    days on market $2,950,000 Active 385 DOM
42. 2026-06-17
    days on market $2,950,000 Active 384 DOM
43. 2026-06-16
    days on market $2,950,000 Active 383 DOM
44. 2026-06-15
    days on market $2,950,000 Active 382 DOM
45. 2026-06-14
    days on market $2,950,000 Active 380 DOM
46. 2026-06-13
    days on market $2,950,000 Active 379 DOM
47. 2026-06-10
    days on market $2,950,000 Active 377 DOM
48. 2026-06-09
    days on market $2,950,000 Active 376 DOM
49. 2026-06-08
    days on market $2,950,000 Active 375 DOM
50. 2026-06-07
    days on market $2,950,000 Active 374 DOM

ⓘ 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: $20,495 · $1,708/mo
• Projected year-2 tax: $28,615 · $2,385/mo
• Expected delta: +$8,120/yr (+$677/mo · 39.6%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone AE · 69% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥99°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 31 unhealthy d/yr today · 32 by 30 yrs out

Taxation est. · year 1

• Rental income: $435,900
• − Mortgage interest: −$165,246
• − Property taxes: −$20,495
• − Insurance: −$19,868
• − Repairs & maintenance: −$34,872
• − Management: −$34,872
• − Depreciation: −$85,818
• Taxable income: $74,728
• Est. tax owed @ 24.0%: −$17,935
• After-tax cash flow: $100,421/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.

Condition & rehab AI · 9 photos

Average 55/100 Cosmetic rehab Est. rehab $89,600–$268,800 screening

A 20-unit apartment complex with average condition, requiring cosmetic repairs and maintenance to improve its resale and rental value.

Components & finishes AI

Roof metal · good Flooring carpet

Repairs flagged

• Major Paint — Peeling paint indicates significant wear
• Major Flooring — Carpeted floors show significant wear

Value-add opportunities

• Both Paint — Fresh paint would improve curb appeal and interior aesthetics ↑
• Both Flooring — New flooring would enhance the living space and increase rental value ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 35/100

Zoned Schools

Elementary Richardson Elementary School F OR #320/412 Nat'l #30,133/41,679 Middle Scenic Middle School F OR #84/128 Nat'l #8,861/14,009 High Crater Renaissance Academy D OR #50/143 Nat'l #5,677/17,239

Schools (NCES district)

• District: Central Point SD 6
• NCES district ID: 4102940
• Math proficiency: 19% ▼ -13.00%
• Reading proficiency: 41% ▼ -6.00%
• Median HH income: $49,736
• Composite: 26.09/100
• National rank: #7290
• State rank: #42 of 58 in OR

A Composite livability gradescore 90/100

Livability — Central Point

• Score: 90/100
• State rank: #3
• US rank: #92

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Central Point, OR
• County: Jackson County · 234,433 people
• City population: 29,067
• Metro: Medford, OR
• Population (ZIP): 29,067
• Household income: $83,488
• Rent vs Own: 26.7% rent · 73.3% own
• Severe rent burden: 10% of renters

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Population outlook (Jackson County) Hauer SSP2

• Today (2025): 234,433 people
• By 2030: 243,834 · +4.0%
• By 2040: 259,717 · +10.8%
• By 2050: 273,269 · +16.6%
• By 2075: 300,624 · +28.2%
• By 2100: 305,256 · +30.2%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 14% Two or more races 9%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Portuguese 3% Iranian 2% Lithuanian 2%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 90% English-only · Spanish 8% Other Asian/Pacific 1%

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Political lean MEDSL · Jackson

• 2024 margin: Lean R (+6.4) · D 45.5% · R 51.9% · Other 2.6%
• 2008→2024 swing: -6.5pp toward R · 2008: 0.1pp · 2024: -6.4pp
• All cycles: 2024: R+6.4 2020: R+3.5 2016: R+9.2 2012: R+5.0 2008: D+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -446.66%
• Current HPI: 252.2725
• Rent YoY: ▲ 4.33%
• Metro: Medford, OR
• State GDP YoY: ▲ 2.05%
• F500 in state: 2

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Industry mix (Fortune 500 HQ in OR)

Industry	F500 HQs	Revenue
▸Consumer Goods	1	$51B

Price history

+599.1% since first listed

4 events — show timeline

• 2026-03-02 Price Changed $2,950,000 MLSCO
• 2025-06-24 Price Changed $3,250,000 MLSCO
• 2025-05-29 Listed $3,750,000 MLSCO
• 1980-05-30 Sold (Public Records) $422,000 Public Records

Property tax history

+2.7%/yr

Latest (2025): $20,495 · +2.5% YoY. Source: county tax records.