3137 Rainbow Loop

Hubbard, OR 97032

$66,900B

2 bd · 2.0 ba · 960 sqft · Built 1984 · Manufactured · Active · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,754/mo
• Mortgage (P&I): −$351
• Tax + insurance: −$112
• HOA: −$0
• Vac / Maint / Mgmt: −$368
• Net cashflow: $924/mo
• Annual: $11,083/yr
• Cap rate: 22.86%
• Cash-on-cash: 59.17%
• DSCR: 3.63
• 1% rule: 2.62%
• Cash to close: $18,732

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $67k. Condition is rated average.
• At list price, monthly cash flow is $924 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $67k).
• It's been on market 23 days — a 2% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $66k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $463 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#57 in OR, #1,930 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: cost of living C-, health & safety D+, amenities F.
• North Marion SD 15 (rural): math 27% / reading 43% proficiency, ranked #131 of 183 in OR (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: North Marion Primary School (326 students, 58% FRL); North Marion Middle School (math 12% / reading 27%, grade F, #124 of 128 statewide, top 98%, 385 students, 52% FRL); North Marion High School (math 10% / reading 50%, grade F, #107 of 143 statewide, top 78%, 603 students, 45% FRL) — zoned schools at 52% FRL track the district average.
• Market conditions: 20 active listings in the ZIP; 1,591 units permitted in Marion County in 2024 (716 in 5+ unit buildings).
• Marion County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: Paint — Paint is faded and peeling in some areas.
• Moderate: Siding — Siding appears weathered and in need of repainting.
• Minor: Kitchen cabinets — Cabinets appear dated but not structurally damaged.
• Minor: Bathroom fixtures — Bathtub and fixtures appear dated but functional.