277 Edwards Rd S #145 · Monmouth, OR 97361

$92,000

2 bd · 2.0 ba · 938 sqft · Manufactured · 230 Days on market

Built 1991 $98/sqft · 14% above area Est $80k · 14% over

---

Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.6/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.1/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Updated and UPGRADED: 2 bed, 2 bath home featuring a newer heat pump, stove and dishwasher! (Summer 2024) Big kitchen skylight brings in a ton of natural light. Primary suite features an updated walk-in shower and vanity, bidet and a walk-in closet. Spacious covered front porch and a big beautiful back deck that overlooks a local water feature. Tucked away in the back of a quiet ALL-ages park for added privacy. Convenient to dining and shopping. Seller will pay buyer's first 2 months of park rent, act now!

Key facts

• Garage
• Built 1991
• Listed 230 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $92k.

Deal economics

• At list price, monthly cash flow is $544 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $92k).
• Recommended offer: $81k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.4% vs local median 2.6% in Monmouth — 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.

Location & tenants

• Location reads 72/100 on livability (#108 in OR) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, housing B+; Watch: schools C-, health & safety D+, amenities D.
• Central SD 13J (town): math 26% / reading 41% proficiency, ranked #149 of 183 in OR (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 67 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 177 units permitted in Polk County in 2024 (14 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $636 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Polk County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 230 days — a 12% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 20y ago; this cycle's ask has dropped $8k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $80,960 (12.0% below list)

Questions for the listing agent

1. It's been on market 230 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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.

Investment metrics

• 1% rule: 1.62% ✓
• Cap rate: 13.39%
• Cash-on-cash: 25.35%
• DSCR: 2.13
• GRM: 5.1

CMA / ARV

• ARV (median comp): $80,483
• List price: $92,000
• Delta: 14.31%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
235 Edwards Rd #99	0.04mi	2/2.0	924 (-2%)	11mo	$80,000	$87	87
151 Edward Rd S #71	0.10mi	2/2.0	960 (+2%)	20mo	$40,000	$42	75
277 Edwards Rd S #136	0.00mi	3/1.0 (+1)	924 (-2%)	22mo	$86,000	$93	70
141 S 17th St #7	0.59mi	2/2.0	924 (-2%)	3mo	$90,000	$97	68
277 Edwards Rd	0.15mi	3/1.0 (+1)	924 (-2%)	22mo	$86,000	$93	63
141 S 17th St #48	0.62mi	2/1.5	924 (-2%)	11mo	$135,000	$146	58
141 S 17th St #50	0.58mi	2/2.0	924 (-2%)	16mo	$127,500	$138	57
141 S 17th St #64	0.58mi	3/1.5 (+1)	1,008 (+8%)	10mo	$134,500	$133	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.9%
• Equity multiple: 1.77×
• Total profit: $19,769
• Equity at exit: $13,717

10-year hold

• IRR: 27.3%
• Equity multiple: 3.40×
• Total profit: $61,929
• Equity at exit: $7,954

Cash invested: $25,760 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 28 Tenant-Leaning
• State Oregon: 28 Tenant-Leaning · D+6
• County: — inherits STATE
• City: — inherits STATE

SB608 (2019): statewide rent cap (7% + CPI) and just-cause for tenancies > 1 yr. Portland has relocation assistance ordinance.

Methodology + full state rankings →

ZIP-level market 97361

• Home prices YoY: -34.5%
• Active inventory: 67
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,494 high
• Mortgage (P&I): −$482
• Tax est. 1.5%: −$115 /mo · $1,380/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $544

Break-even live

Break-even rent $805

Max offer price $92,000

Occupancy floor 59%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $23,000
• Closing costs: $2,760
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1021 Main St E Unit 1021-1 Monmouth, OR	2.0	1.0	800	$1,450	$1.81	44d	1	0.26mi
314 Monmouth Independence Hwy Monmouth, OR	3.0	1.0	1100	$1,795	$1.63	44d	1	0.28mi
1630 Monmouth St Independence, OR	2.0	1.5	900	$1,375	$1.53	14d	1	0.43mi
1630 Monmouth St Unit 1630-20 Independence, OR	2.0	1.5	900	$1,375	$1.53	23d	1	0.44mi
163 Catron St N Unit 163-02 Monmouth, OR	2.0	1.0	760	$1,395	$1.84	44d	1	0.57mi
1408 Falcon Loop Unit 1408 Independence, OR	3.0	2.0	1056	$1,795	$1.70	14d	1	0.65mi
501 Catron St N Monmouth, OR	2.0	2.0	1090	$1,450	$1.33	14d	1	0.66mi
523 Catron St N Unit 523-05 Monmouth, OR	2.0	2.0	1090	$1,450	$1.33	23d	1	0.70mi
523 Catron St N Unit 523-11 Monmouth, OR	2.0	2.0	1090	$1,400	$1.28	44d	1	0.70mi
1400 E St Independence, OR	2.0–3.0	1.0–2.0	962	$1,525	$1.59	14d	2	0.70mi
537 Catron St N Unit 537-05 Monmouth, OR	2.0	2.0	1090	$1,400	$1.28	44d	1	0.72mi
242 Jackson St E Unit B Monmouth, OR	2.0	1.0	877	$1,650	$1.88	14d	1	0.75mi
130 Main St W Monmouth, OR	2.0	1.0	750	$1,499	$2.00	14d	1	0.85mi
479 S Monmouth Ave Unit 479-18 Monmouth, OR	2.0	1.5	996	$1,545	$1.55	23d	1	0.88mi
219 S Monmouth Ave Unit 212 Monmouth, OR	2.0	1.0	980	$1,499	$1.53	44d	1	0.89mi
205 N Gun Club Rd Unit 123 Independence, OR	2.0	1.0	868	$1,400	$1.61	23d	1	0.92mi
302 S Monmouth Ave Unit 302-A Monmouth, OR	1.0	1.0	600	$1,095	$1.82	44d	1	0.95mi
675 White Oak Cir Independence, OR	2.0	2.0	923	$1,675	$1.81	14d	5	0.99mi
475 Jackson St W Monmouth, OR	1.0	1.0	700	$1,050	$1.50	44d	1	1.12mi
308 Hoxton Ave Unit 2bd/2ba_880sq Monmouth, OR	2.0	2.0	880	$1,720	$1.95	14d	1	1.21mi
304 Hoxton Ave Unit 2bd/2ba_771sq Monmouth, OR	2.0	2.0	771	$1,500	$1.95	14d	1	1.21mi
300 Hoxton Ave Monmouth, OR	2.0–3.0	2.0	960	$1,500	$1.56	14d	9	1.22mi
739 Jackson St W Unit 3 Monmouth, OR	2.0	2.0	850	$1,450	$1.71	44d	1	1.24mi
336 Whitesell St W Unit 336-7 Monmouth, OR	2.0	2.0	800	$1,400	$1.75	23d	1	1.25mi
800 S 4th St Unit 800-08 Independence, OR	2.0	1.0	775	$1,250	$1.61	23d	1	1.46mi

Listing history 26 events

1. 2026-06-18
   days on market $92,000 Active 230 DOM
2. 2026-06-17
   days on market $92,000 Active 229 DOM
3. 2026-06-16
   days on market $92,000 Active 228 DOM
4. 2026-06-15
   days on market $92,000 Active 227 DOM
5. 2026-06-14
   days on market $92,000 Active 225 DOM
6. 2026-06-10
   days on market $92,000 Active 222 DOM
7. 2026-06-09
   days on market $92,000 Active 221 DOM
8. 2026-06-08
   days on market $92,000 Active 220 DOM
9. 2026-06-07
   days on market $92,000 Active 219 DOM
10. 2026-06-05
    days on market $92,000 Active 216 DOM
11. 2026-06-03
    days on market $92,000 Active 215 DOM
12. 2026-06-02
    days on market $92,000 Active 214 DOM
13. 2026-06-01
    days on market $92,000 Active 213 DOM
14. 2026-05-31
    days on market $92,000 Active 212 DOM
15. 2026-05-30
    days on market $92,000 Active 211 DOM
16. 2026-05-05
    price $92,000 511-char remark

    Show marketing remark (511 chars)

    Updated and UPGRADED: 2 bed, 2 bath home featuring a newer heat pump, stove and dishwasher! (Summer 2024) Big kitchen skylight brings in a ton of natural light. Primary suite features an updated walk-in shower and vanity, bidet and a walk-in closet. Spacious covered front porch and a big beautiful back deck that overlooks a local water feature. Tucked away in the back of a quiet ALL-ages park for added privacy. Convenient to dining and shopping. Seller will pay buyer's first 2 months of park rent, act now!

17. 2026-05-04
    price $92,000 511-char remark

    Show marketing remark (511 chars)

    Updated and UPGRADED: 2 bed, 2 bath home featuring a newer heat pump, stove and dishwasher! (Summer 2024) Big kitchen skylight brings in a ton of natural light. Primary suite features an updated walk-in shower and vanity, bidet and a walk-in closet. Spacious covered front porch and a big beautiful back deck that overlooks a local water feature. Tucked away in the back of a quiet ALL-ages park for added privacy. Convenient to dining and shopping. Seller will pay buyer's first 2 months of park rent, act now!

18. 2026-04-02
    price $97,000 511-char remark

    Show marketing remark (511 chars)

    Updated and UPGRADED: 2 bed, 2 bath home featuring a newer heat pump, stove and dishwasher! (Summer 2024) Big kitchen skylight brings in a ton of natural light. Primary suite features an updated walk-in shower and vanity, bidet and a walk-in closet. Spacious covered front porch and a big beautiful back deck that overlooks a local water feature. Tucked away in the back of a quiet ALL-ages park for added privacy. Convenient to dining and shopping. Seller will pay buyer's first 2 months of park rent, act now!

19. 2026-04-01
    price $97,000 511-char remark

    Show marketing remark (511 chars)

    Updated and UPGRADED: 2 bed, 2 bath home featuring a newer heat pump, stove and dishwasher! (Summer 2024) Big kitchen skylight brings in a ton of natural light. Primary suite features an updated walk-in shower and vanity, bidet and a walk-in closet. Spacious covered front porch and a big beautiful back deck that overlooks a local water feature. Tucked away in the back of a quiet ALL-ages park for added privacy. Convenient to dining and shopping. Seller will pay buyer's first 2 months of park rent, act now!

20. 2025-10-31
    listed $100,000 Active 511-char remark

    Show marketing remark (511 chars)

    Updated and UPGRADED: 2 bed, 2 bath home featuring a newer heat pump, stove and dishwasher! (Summer 2024) Big kitchen skylight brings in a ton of natural light. Primary suite features an updated walk-in shower and vanity, bidet and a walk-in closet. Spacious covered front porch and a big beautiful back deck that overlooks a local water feature. Tucked away in the back of a quiet ALL-ages park for added privacy. Convenient to dining and shopping. Seller will pay buyer's first 2 months of park rent, act now!

21. 2025-10-31
    listed $100,000 Active 511-char remark

    Show marketing remark (511 chars)

    Updated and UPGRADED: 2 bed, 2 bath home featuring a newer heat pump, stove and dishwasher! (Summer 2024) Big kitchen skylight brings in a ton of natural light. Primary suite features an updated walk-in shower and vanity, bidet and a walk-in closet. Spacious covered front porch and a big beautiful back deck that overlooks a local water feature. Tucked away in the back of a quiet ALL-ages park for added privacy. Convenient to dining and shopping. Seller will pay buyer's first 2 months of park rent, act now!

22. 2024-04-26
    soldstatus $89,500 Sold
23. 2024-04-15
    listed Active under Contract
24. 2024-04-15
    listed $89,500
25. 2015-05-05
    historical
26. 2006-10-19
    listed $25,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥92°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 11 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,922
• − Mortgage interest: −$5,153
• − Property taxes: −$1,380
• − Insurance: −$460
• − Repairs & maintenance: −$1,434
• − Management: −$1,434
• − Depreciation: −$2,676
• Taxable income: $5,385
• Est. tax owed @ 24.0%: −$1,292
• After-tax cash flow: $5,237/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Central SD 13J
• NCES district ID: 4102840
• Math proficiency: 26% ▼ -3.00%
• Reading proficiency: 41% ▼ -2.00%
• Median HH income: $42,374
• Composite: 31.04/100
• National rank: #11310
• State rank: #149 of 183 in OR

Livability — Monmouth

• Score: 72/100
• State rank: #108
• US rank: #5992

Category grades

Amenities D Commute A+ Cost of living B- Crime A+ Employment D Housing B+ Health & safety D+ User ratings D

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Monmouth, OR
• County: Polk County · 84,240 people
• City population: 14,488
• Metro: Salem, OR
• Population (ZIP): 14,488
• Household income: $69,505
• Rent vs Own: 43.4% rent · 56.6% own
• Severe rent burden: 412.0

Population outlook (Polk County) Hauer SSP2

• Today (2025): 88,594 people
• By 2030: 93,209 · +5.2%
• By 2040: 101,942 · +15.1%
• By 2050: 110,395 · +24.6%
• By 2075: 131,091 · +48.0%
• By 2100: 141,746 · +60.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 16% Two or more races 12% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Slovak 4% Italian 3% Portuguese 3%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 87% English-only · Spanish 10% Other Asian/Pacific 1% Korean 1%

Political lean MEDSL · Polk

• 2024 margin: Toss-up / Even · D 46.6% · R 50.4% · Other 3.0%
• 2008→2024 swing: -3.3pp toward R · 2008: -0.5pp · 2024: -3.8pp
• All cycles: 2024: R+3.8 2020: R+1.7 2016: R+7.0 2012: R+4.8 2008: R+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -162.97%
• Current HPI: 309.076
• Rent YoY: —
• Metro: Salem, OR
• State GDP YoY: ▲ 2.05%
• F500 in state: 2

Industry mix (Fortune 500 HQ in OR)

Industry	F500 HQs	Revenue
▸Consumer Goods	1	$51B

Price history

+255.2% since first listed

11 events — show timeline

• 2026-05-05 Price Changed $92,000 WVMLS
• 2026-05-04 Price Changed $92,000 RMLS
• 2026-04-02 Price Changed $97,000 WVMLS
• 2026-04-01 Price Changed $97,000 RMLS
• 2025-10-31 Listed $100,000 RMLS
• 2025-10-31 Listed $100,000 WVMLS
• 2024-04-26 Sold (MLS) $89,500 WVMLS
• 2024-04-15 Listed — WVMLS
• 2024-04-15 Listed $89,500 WVMLS
• 2015-05-05 Listing Removed — WVMLS
• 2006-10-19 Listed $25,900 WVMLS