10405 SW Denney Rd #31

Beaverton, OR 97008

$85,000B

2 bd · 1.0 ba · 1,032 sqft · Built 1969 · Manufactured · Active · 33 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,712/mo
• Mortgage (P&I): −$446
• Tax + insurance: −$477
• HOA: −$0
• Vac / Maint / Mgmt: −$359
• Net cashflow: $429/mo
• Annual: $5,147/yr
• Cap rate: 18.37%
• Cash-on-cash: 43.13%
• DSCR: 2.92
• 1% rule: 2.01%
• Cash to close: $23,800

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $85k.
• At list price, monthly cash flow is $429 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• It's been on market 33 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 88/100 on livability (#10 in OR, #251 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: crime D, cost of living F.
• Beaverton SD 48J (urban): math 68% / reading 76% proficiency, ranked #3 of 58 in OR (top 5%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Mckay Elementary School (math 70% / reading 70%, grade A-, #34 of 412 statewide, top 11%, 260 students, 72% FRL); Whitford Middle School (math 72% / reading 77%, grade A, #7 of 128 statewide, top 5%, 809 students, 56% FRL); Southridge High School (reading 75%, 1,495 students, 45% FRL) — zoned schools average 58% FRL vs 31% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: Rents soft (-1.1%/yr); 135 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,224 units permitted in Washington County in 2024 (242 in 5+ unit buildings).
• Washington County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $24k cash investment doubles in ~8 years — after that, you're playing with house money.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 18.4% vs local median 2.2% in Beaverton — 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.

Questions for listing agent

• It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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?
• 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.
• 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.