6900 SW 195th Ave #111

Aloha, OR 97007

$187,000B

3 bd · 2.0 ba · 1,440 sqft · Built 1972 · Manufactured · Pending · 17 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,389/mo
• Mortgage (P&I): −$981
• Tax + insurance: −$176
• HOA: −$0
• Vac / Maint / Mgmt: −$502
• Net cashflow: $730/mo
• Annual: $8,761/yr
• Cap rate: 10.98%
• Cash-on-cash: 16.73%
• DSCR: 1.74
• 1% rule: 1.28%
• Cash to close: $52,360

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $187k.
• At list price, monthly cash flow is $730 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $187k).
• It's been on market 17 days — a 2% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $184k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 84/100 on livability (#33 in OR, #785 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living D-.
• Beaverton SD 48J (urban): math 68% / reading 76% proficiency, ranked #3 of 58 in OR (top 5%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: Rents soft (-1.8%/yr); 468 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 2,224 units permitted in Washington County in 2024 (242 in 5+ unit buildings).
• Washington County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 3y 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 $150k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $52k cash investment doubles in ~10 years — after that, you're playing with house money.
• Cap rate 11.0% vs local median 2.9% in Aloha — 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

• Built in 1972 — 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.
• 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.