11105 Main St NE #9

Donald, OR 97020

$100,000B

3 bd · 2.0 ba · 1,848 sqft · Built 1998 · Manufactured · Pending · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,770/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$128
• HOA: −$0
• Vac / Maint / Mgmt: −$372
• Net cashflow: $746/mo
• Annual: $8,946/yr
• Cap rate: 15.24%
• Cash-on-cash: 31.95%
• DSCR: 2.42
• 1% rule: 1.77%
• Cash to close: $28,000

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $100k.
• At list price, monthly cash flow is $746 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-1.4%/yr); year-one equity from $691 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#193 in OR) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, cost of living A; Watch: health & safety D+, amenities F, commute F.
• North Marion SD 15 (rural): math 27% / reading 43% proficiency, ranked #131 of 183 in OR (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: North Marion Primary School (326 students, 58% FRL); North Marion Middle School (math 12% / reading 27%, grade F, #124 of 128 statewide, top 98%, 385 students, 52% FRL); North Marion High School (math 10% / reading 50%, grade F, #107 of 143 statewide, top 78%, 603 students, 45% FRL) — zoned schools at 52% FRL track the district average.
• Market conditions: 7 active listings in the ZIP; 1,591 units permitted in Marion County in 2024 (716 in 5+ unit buildings).
• Marion County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-1.4% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.

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 F-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.