300 SE LaCreole Dr #242 · Dallas, OR 97338

$85,900

3 bd · 2.0 ba · 1,152 sqft · Manufactured · 87 Days on market

Built 1988 $75/sqft · 6% below area Est $91k · 6% 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 +10.2/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This adorable home is clean and tidy with curb appeal and a practical layout. 3 bdrms and 2 baths with separate primary and on suite, large open living space, functional kitchen with lots of natural light shining thru the updated windows. The front covered porch is where you'll want to be as the days get longer and warmer. Nice yard

Key facts

• Functional kitchen
• Front covered porch
• Practical layout

Tags

• PRACTICAL LAYOUT
• LARGE OPEN LIVING SPACE
• FUNCTIONAL KITCHEN
• NATURAL LIGHT
• FRONT COVERED PORCH
• NICE YARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $86k.

Deal economics

• At list price, monthly cash flow is $687 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $86k).
• Recommended offer: $81k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.9% vs local median 2.4% in Dallas — 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 79/100 on livability (#61 in OR, #2,132 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, commute A; Watch: schools D+, amenities F.
• Dallas SD 2 (town): math 32% / reading 48% proficiency, ranked #102 of 183 in OR (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 215 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 177 units permitted in Polk County in 2024 (14 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $594 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Polk County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 10y ago; this cycle's ask has dropped $14k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $80,746 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% 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: 1.89% ✓
• Cap rate: 15.89%
• Cash-on-cash: 34.28%
• DSCR: 2.53
• GRM: 4.4

CMA / ARV

• ARV (median comp): $91,350
• List price: $85,900
• Delta: -5.97%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
300 SE LaCreole Dr #210	0.12mi	3/2.0	1,188 (+3%)	3mo	$100,000	$84	86
300 SE Lacreole Dr #211	0.00mi	2/2.0 (-1)	1,188 (+3%)	7mo	$79,500	$67	84
1030 E Ellendale Ave #3	0.16mi	3/1.5	1,176 (+2%)	9mo	$60,000	$51	80
300 SE Lacreole Dr #237	0.00mi	2/2.0 (-1)	1,080 (-6%)	11mo	$38,000	$35	76
300 SE Lacreole Dr #283	0.00mi	2/2.0 (-1)	1,224 (+6%)	11mo	$116,000	$95	75
450 SE Lacreole Dr #128	0.25mi	3/2.0	1,248 (+8%)	2mo	$65,000	$52	73
300 SE LaCreole Dr #263	0.12mi	3/2.0	1,296 (+12%)	1mo	$145,900	$113	72
450 LaCreole Dr #25	0.15mi	3/2.0	1,296 (+12%)	1mo	$161,500	$125	72
450 SE Lacreole Dr #49	0.25mi	3/2.0	1,244 (+8%)	8mo	$122,000	$98	69
300 SE Lacreole Dr #215	0.00mi	3/2.0	1,296 (+12%)	12mo	$75,000	$58	69
450 SE LaCreole Dr #50	0.25mi	3/2.0	1,269 (+10%)	12mo	$74,000	$58	61
420 NE Dallas Dr	0.69mi	3/2.0	1,056 (-8%)	11mo	$334,000	$316	45

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: 29.7%
• Equity multiple: 2.24×
• Total profit: $29,868
• Equity at exit: $12,808

10-year hold

• IRR: 37.0%
• Equity multiple: 4.43×
• Total profit: $82,459
• Equity at exit: $7,427

Cash invested: $24,052 (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 97338

• Active inventory: 215
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,621 high
• Mortgage (P&I): −$450
• Tax est. 1.5%: −$107 /mo · $1,288/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $687

Break-even live

Break-even rent $751

Max offer price $85,900

Occupancy floor 53%

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: $21,475
• Closing costs: $2,577
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
418 SE Lacreole Dr Apt 4 Dallas, OR	2.0	1.5	1120	$1,500	$1.34	44d	1	0.27mi
325 SE Lacreole Dr Dallas, OR	2.0	1.0	828	$1,025	$1.24	2d	1	0.27mi
481 E Ellendale Ave Dallas, OR	2.0	2.0	1050	$1,425	$1.36	2d	2	0.50mi
352 NE Evergreen Ct Dallas, OR	2.0	1.0	1041	$1,700	$1.63	14d	1	0.74mi
1060 SE Miller Ave Dallas, OR	3.0	2.0	1200	$1,725	$1.44	14d	1	0.78mi
860 SE Fir Villa Rd Dallas, OR	3.0	2.0	1200	$2,200	$1.83	21d	1	0.91mi
926 SE Uglow Ave #3 Dallas, OR	2.0	1.0	729	$1,345	$1.84	14d	1	0.92mi
926 SE Uglow Ave Unit 4 Dallas, OR	2.0	1.0	860	$1,345	$1.56	44d	1	0.92mi
505 SE Mill St Dallas, OR	2.0	1.0	864	$1,500	$1.74	16d	1	0.96mi
505 SE Mill St Unit 505 Dallas, OR	2.0	1.0	864	$1,500	$1.74	14d	1	0.96mi
1267 SE Holman Ave Unit 2 Dallas, OR	3.0	1.5	1045	$1,850	$1.77	23d	1	0.99mi
375 S Main St Dallas, OR	2.0	1.0	800	$1,650	$2.06	14d	1	1.01mi
1289 SE Holman Ave Dallas, OR	3.0	1.0	926	$1,495	$1.61	44d	1	1.02mi
237 SE Clay St Apt 4 Dallas, OR	2.0	1.0	970	$1,550	$1.60	14d	1	1.23mi
325 SW Academy St Unit 14 Dallas, OR	2.0	1.0	700	$1,195	$1.71	14d	1	1.30mi
1338 Main St Apt 2 Dallas, OR	3.0	1.0	864	$1,525	$1.77	21d	1	1.38mi

Listing history 27 events

1. 2026-06-18
   days on market $85,900 Active 87 DOM
2. 2026-06-17
   days on market $85,900 Active 86 DOM
3. 2026-06-16
   days on market $85,900 Active 85 DOM
4. 2026-06-15
   days on market $85,900 Active 84 DOM
5. 2026-06-14
   days on market $85,900 Active 82 DOM
6. 2026-06-10
   days on market $85,900 Active 79 DOM
7. 2026-06-09
   days on market $85,900 Active 78 DOM
8. 2026-06-08
   days on market $85,900 Active 77 DOM
9. 2026-06-07
   days on market $85,900 Active 76 DOM
10. 2026-06-03
    days on market $85,900 Active 72 DOM
11. 2026-06-02
    days on market $85,900 Active 71 DOM
12. 2026-06-01
    days on market $85,900 Active 70 DOM
13. 2026-05-31
    days on market $85,900 Active 69 DOM
14. 2026-05-30
    days on market $85,900 Active 68 DOM
15. 2026-04-29
    price $92,000 335-char remark

    Show marketing remark (335 chars)

    This adorable home is clean and tidy with curb appeal and a practical layout. 3 bdrms and 2 baths with separate primary and on suite, large open living space, functional kitchen with lots of natural light shining thru the updated windows. The front covered porch is where you'll want to be as the days get longer and warmer. Nice yard

16. 2026-03-23
    listed $100,000 Active 335-char remark

    Show marketing remark (335 chars)

    This adorable home is clean and tidy with curb appeal and a practical layout. 3 bdrms and 2 baths with separate primary and on suite, large open living space, functional kitchen with lots of natural light shining thru the updated windows. The front covered porch is where you'll want to be as the days get longer and warmer. Nice yard

17. 2019-01-31
    soldstatus $65,256 Sold 426-char remark

    Show marketing remark (426 chars)

    Lovely updated home. Vaulted ceilings in the LR and Kitchen. Updates include: Vinyl windows, new carpeting and vinyl, new furnace, heat pump, master shower is tiled and a walk in, new kitchen sink. Entry door is new and so is the screen door. This is move in ready. There is a shop/hobby area off the carport, a shed also for gardening equipment. The landscaping is lovely and the deck for summer enjoyment is very nice.

18. 2019-01-30
    status Pending 426-char remark

    Show marketing remark (426 chars)

    Lovely updated home. Vaulted ceilings in the LR and Kitchen. Updates include: Vinyl windows, new carpeting and vinyl, new furnace, heat pump, master shower is tiled and a walk in, new kitchen sink. Entry door is new and so is the screen door. This is move in ready. There is a shop/hobby area off the carport, a shed also for gardening equipment. The landscaping is lovely and the deck for summer enjoyment is very nice.

19. 2019-01-12
    historical Active under Contract 426-char remark

    Show marketing remark (426 chars)

    Lovely updated home. Vaulted ceilings in the LR and Kitchen. Updates include: Vinyl windows, new carpeting and vinyl, new furnace, heat pump, master shower is tiled and a walk in, new kitchen sink. Entry door is new and so is the screen door. This is move in ready. There is a shop/hobby area off the carport, a shed also for gardening equipment. The landscaping is lovely and the deck for summer enjoyment is very nice.

20. 2019-01-02
    listed $69,000 Active 426-char remark

    Show marketing remark (426 chars)

    Lovely updated home. Vaulted ceilings in the LR and Kitchen. Updates include: Vinyl windows, new carpeting and vinyl, new furnace, heat pump, master shower is tiled and a walk in, new kitchen sink. Entry door is new and so is the screen door. This is move in ready. There is a shop/hobby area off the carport, a shed also for gardening equipment. The landscaping is lovely and the deck for summer enjoyment is very nice.

21. 2016-08-09
    soldstatus $32,000 Sold
22. 2016-08-05
    status Pending
23. 2016-07-13
    status Active
24. 2016-06-16
    historical Active under Contract
25. 2016-06-16
    status Active
26. 2016-06-03
    historical Active under Contract
27. 2016-05-20
    listed $34,000 Active

ⓘ 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 6/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 10 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,454
• − Mortgage interest: −$4,812
• − Property taxes: −$1,288
• − Insurance: −$430
• − Repairs & maintenance: −$1,556
• − Management: −$1,556
• − Depreciation: −$2,499
• Taxable income: $7,313
• Est. tax owed @ 24.0%: −$1,755
• After-tax cash flow: $6,490/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: Dallas SD 2
• NCES district ID: 4103860
• Math proficiency: 32% ▼ -7.00%
• Reading proficiency: 48% ▼ -4.00%
• Median HH income: $53,684
• Composite: 37.24/100
• National rank: #8983
• State rank: #102 of 183 in OR

Livability — Dallas

• Score: 79/100
• State rank: #61
• US rank: #2132

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dallas, OR
• County: Polk County · 84,240 people
• City population: 23,419
• Metro: Salem, OR
• Population (ZIP): 23,419
• Household income: $78,858
• Rent vs Own: 26.8% rent · 73.2% own
• Severe rent burden: 782.0

Population outlook (Polk County) Hauer SSP2

• Today (2025): 88,594 people
• By 2030: 93,209 · +5.2%
• By 2040: 101,942 · +15.1%
• By 2050: 110,395 · +24.6%
• By 2075: 131,091 · +48.0%
• By 2100: 141,746 · +60.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 10% Two or more races 9% Native American 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Slovak 4% Portuguese 3% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Polk

• 2024 margin: Toss-up / Even · D 46.6% · R 50.4% · Other 3.0%
• 2008→2024 swing: -3.3pp toward R · 2008: -0.5pp · 2024: -3.8pp
• All cycles: 2024: R+3.8 2020: R+1.7 2016: R+7.0 2012: R+4.8 2008: R+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -332.14%
• Current HPI: 311.4157
• Rent YoY: —
• Metro: Salem, 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

+170.6% since first listed

13 events — show timeline

• 2026-04-29 Price Changed $92,000 WVMLS
• 2026-03-23 Listed $100,000 WVMLS
• 2019-01-31 Sold (MLS) $65,256 WVMLS
• 2019-01-30 Pending — WVMLS
• 2019-01-12 Contingent — WVMLS
• 2019-01-02 Listed $69,000 WVMLS
• 2016-08-09 Sold (MLS) $32,000 WVMLS
• 2016-08-05 Pending — WVMLS
• 2016-07-13 Relisted — WVMLS
• 2016-06-16 Contingent — WVMLS
• 2016-06-16 Relisted — WVMLS
• 2016-06-03 Contingent — WVMLS
• 2016-05-20 Listed $34,000 WVMLS