2300 NW Country Ln #10

Gaston, OR 97119

$99,000B-

2 bd · 1.5 ba · 924 sqft · Built 1976 · Manufactured · Active · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,259/mo
• Mortgage (P&I): −$519
• Tax + insurance: −$78
• HOA: −$0
• Vac / Maint / Mgmt: −$264
• Net cashflow: $398/mo
• Annual: $4,775/yr
• Cap rate: 11.12%
• Cash-on-cash: 17.23%
• DSCR: 1.77
• 1% rule: 1.27%
• Cash to close: $27,720

Investor read

• This is a 2-bed/1.5-bath manufactured listed at $99k.
• At list price, monthly cash flow is $398 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#262 in OR) — a middle-class / working-renter tenant base. Strengths: employment A+, crime A, cost of living A; Watch: amenities F, commute F, housing F.
• Gaston SD 511J (rural): math 39% / reading 57% proficiency, ranked #38 of 183 in OR (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Gaston Elementary School (math 34% / reading 37%, grade F, #211 of 412 statewide, top 52%, 234 students, 38% FRL); Gaston Jr/Sr High School (math 22% / reading 44%, grade F, #101 of 143 statewide, top 70%, 245 students, 38% FRL) — zoned schools at 38% FRL track the district average.
• Zoned-school proficiency averages 34% at this address vs 48% district-wide (-14 pts) — the specific schools serving this property underperform the Gaston SD 511J average; the district grade overstates school quality for this exact location.
• Market conditions: 24 active listings in the ZIP; 282 units permitted in Yamhill County in 2024 (0 in 5+ unit buildings).
• Yamhill County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.