74866 Doan Rd #58

Rainier, OR 97048

$69,995B

2 bd · 1.0 ba · 780 sqft · Built 2020 · Manufactured · Active · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,655/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$117
• HOA: −$0
• Vac / Maint / Mgmt: −$348
• Net cashflow: $824/mo
• Annual: $9,887/yr
• Cap rate: 20.42%
• Cash-on-cash: 50.45%
• DSCR: 3.24
• 1% rule: 2.36%
• Cash to close: $19,599

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $70k. Condition is rated excellent.
• At list price, monthly cash flow is $824 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• It's been on market 22 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $69k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#206 in OR) — a middle-class / working-renter tenant base. Strengths: housing A+, crime B+, cost of living B+; Watch: health & safety C-, employment D, amenities F.
• Rainier SD 13 (rural): math 26% / reading 48% proficiency, ranked #124 of 183 in OR (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hudson Park Elementary School (434 students, 64% FRL); Rainier Jr/Sr High School (385 students, 61% FRL) — zoned schools average 63% FRL vs 45% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 74 active listings in the ZIP; 55 units permitted in Columbia County in 2024 (0 in 5+ unit buildings).
• Columbia County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 4y ago 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 $20k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 20.4% vs local median 3.4% in Rainier — 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

• 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.