84485 Parkway Rd

Jasper, OR 97455

$649,000C-

6 bd · 5.0 ba · 2,484 sqft · Built 1989 · MultiFamily · Pending · 64 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $6,243/mo
• Mortgage (P&I): −$3,403
• Tax + insurance: −$587
• HOA: −$0
• Vac / Maint / Mgmt: −$1,311
• Net cashflow: $942/mo
• Annual: $11,304/yr
• Cap rate: 8.03%
• Cash-on-cash: 6.22%
• DSCR: 1.28
• 1% rule: 0.96%
• Cash to close: $181,720

Investor read

• This is a 2 × 3-bed/3.0-bath units multifamily listed at $649k.
• At list price, monthly cash flow is $942 ($11k/yr) — positive. Per door: $471/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $624k (3.8% below list).
• It's been on market 64 days — a 6% lower offer ($610k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $610k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $19k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Pleasant Hill SD 1 (rural): math 37% / reading 50% proficiency, ranked #80 of 183 in OR (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pleasant Hill Elementary School (math 37% / reading 44%, grade F, #167 of 412 statewide, top 41%, 455 students, 34% FRL); Pleasant Hill High School (math 27% / reading 47%, grade F, #85 of 143 statewide, top 61%, 538 students, 33% FRL) — zoned schools at 33% FRL track the district average.
• Market conditions: 17 active listings in the ZIP; 1,808 units permitted in Lane County in 2024 (972 in 5+ unit buildings).
• Lane County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 23y 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.
• Current owner paid $500k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• 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.
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.