1418 Pine St #7

Silverton, OR 97381

$96,000B

2 bd · 1.0 ba · 624 sqft · Built 1972 · Manufactured · Active · 85 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,657/mo
• Mortgage (P&I): −$503
• Tax + insurance: −$160
• HOA: −$0
• Vac / Maint / Mgmt: −$348
• Net cashflow: $646/mo
• Annual: $7,747/yr
• Cap rate: 14.36%
• Cash-on-cash: 28.82%
• DSCR: 2.28
• 1% rule: 1.73%
• Cash to close: $26,880

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $96k.
• At list price, monthly cash flow is $646 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $96k).
• It's been on market 85 days — a 6% lower offer ($90k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $90k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $664 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#90 in OR, #4,448 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, employment B; Watch: cost of living D+, commute F.
• Silver Falls SD 4J (town): math 40% / reading 57% proficiency, ranked #8 of 58 in OR (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Silverton Middle School (math 17% / reading 37%, grade F, #96 of 128 statewide, top 78%, 444 students, 31% FRL); Silverton High School (math 42% / reading 82%, grade B-, #19 of 143 statewide, top 13%, 1,238 students, 21% FRL).
• Market conditions: 122 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 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.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 14.4% vs local median 2.6% in Silverton — 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 85 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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.