901 SE Kierra Pl · Madras, OR 97741

$264,000

3 bd · 2.5 ba · 1,760 sqft · Other public records · 81 Days on market

Built 2006 4,356 sqft lot $150/sqft · at area comps Est $253k · at est.

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Why this score? — see what drove the D 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).

• Appreciation +10.0/10.0
• Cash flow +9.6/30.0
• ARV discount +5.6/15.0
• Livability +3.4/5.0
• DSCR +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Schools +2.1/10.0

Listing remarks MLS

Spacious and inviting home featuring an open-concept layout perfect for everyday living and entertaining. The bright kitchen offers ample cabinet space, a center island with seating, and flows seamlessly into the dining and living areas. Upstairs you'll find generously sized bedrooms, including a large primary suite with vaulted ceilings and plenty of room to unwind. Natural light fills the home through multiple windows, creating a warm and welcoming atmosphere throughout. The versatile layout includes additional living space ideal for a home office, playroom, or media area. Fully fenced backyard offers space to relax or entertain. Conveniently located near parks, schools, and local amenities. Great opportunity for a first-time homebuyer or investment property.

Key facts

• Ample cabinet space
• Vaulted ceilings
• Large primary suite

Tags

• OPEN-CONCEPT LAYOUT
• AMPLE CABINET SPACE
• CENTER ISLAND WITH SEATING
• GENEROUSLY SIZED BEDROOMS
• LARGE PRIMARY SUITE
• VAULTED CEILINGS

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath other listed at $264k.

Deal economics

• At list price, monthly cash flow is $-178 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $233k (11.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $192k (27.4% below list).
• Recommended offer: $192k (27.4% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 2.9% in Madras — 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 67/100 on livability (#180 in OR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities D+, crime D-, commute F.
• Jefferson County SD 509J (rural): math 19% / reading 30% proficiency, ranked #55 of 58 in OR (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 77% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Madras Elementary School (math 17% / reading 22%, grade F, #377 of 412 statewide, top 93%, 363 students, 94% FRL); Jefferson County Middle School (math 21% / reading 39%, grade F, #84 of 128 statewide, top 66%, 473 students, 94% FRL); Madras High School (math 8% / reading 47%, grade F, #114 of 143 statewide, top 80%, 781 students, 93% FRL) — zoned schools average 94% FRL vs 77% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 263 active listings in the ZIP; 108 units permitted in Jefferson County in 2024 (5 in 5+ unit buildings).
• This rent runs 32% of the median local income ($71k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $28k of equity ($2k loan paydown + $26k appreciation (10.0% local appreciation)).
• Jefferson County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($248k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 19y 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 $70k; list at $264k implies a 277% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $191,752 (27.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.73% ✗
• Cap rate: 5.49%
• Cash-on-cash: -2.88%
• DSCR: 0.87
• GRM: 11.5

CMA / ARV

• ARV (median comp): $253,301
• List price: $264,000
• Delta: 4.22%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.2%
• Equity multiple: 2.79×
• Total profit: $132,412
• Equity at exit: $237,832

10-year hold

• IRR: 19.9%
• Equity multiple: 6.39×
• Total profit: $398,727
• Equity at exit: $512,894

Cash invested: $73,920 (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 97741

• Home prices YoY: 5.3%
• Active inventory: 263
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $1,918 medium
• Mortgage (P&I): −$1,384
• Tax from tax record: −$198 /mo · $2,377/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $-178

Break-even live

Break-even rent $2,142

Max offer price $232,610

Occupancy floor —

Sensitivity live

Price	-10% $-28	-5% $-103	+0% $-178	+5% $-252	+10% $-327
Rent	-10% $-329	-5% $-253	+0% $-178	+5% $-102	+10% $-26
Rate	-1.0pp $-45	-0.5pp $-111	base $-178	+0.5pp $-246	+1.0pp $-316

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: $66,000
• Closing costs: $7,920
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-22
   days on market $264,000 Active 81 DOM
2. 2026-06-19
   days on market $264,000 Active 78 DOM
3. 2026-06-18
   days on market $264,000 Active 77 DOM
4. 2026-06-17
   days on market $264,000 Active 76 DOM
5. 2026-06-16
   days on market $264,000 Active 75 DOM
6. 2026-06-15
   days on market $264,000 Active 74 DOM
7. 2026-06-14
   days on market $264,000 Active 72 DOM
8. 2026-06-12
   pricedays on market $264,000 Active 71 DOM
9. 2026-06-09
   days on market $269,000 Active 68 DOM
10. 2026-06-08
    days on market $269,000 Active 67 DOM
11. 2026-06-07
    days on market $269,000 Active 66 DOM
12. 2026-06-07
    days on market $269,000 Active 65 DOM
13. 2026-06-04
    days on market $269,000 Active 62 DOM
14. 2026-06-02
    days on market $269,000 Active 61 DOM
15. 2026-06-01
    days on market $269,000 Active 60 DOM
16. 2026-05-31
    days on market $269,000 Active 59 DOM
17. 2026-05-31
    days on market $269,000 Active 58 DOM
18. 2026-04-01
    listed $269,000 Active 771-char remark

    Show marketing remark (771 chars)

    Spacious and inviting home featuring an open-concept layout perfect for everyday living and entertaining. The bright kitchen offers ample cabinet space, a center island with seating, and flows seamlessly into the dining and living areas. Upstairs you'll find generously sized bedrooms, including a large primary suite with vaulted ceilings and plenty of room to unwind. Natural light fills the home through multiple windows, creating a warm and welcoming atmosphere throughout. The versatile layout includes additional living space ideal for a home office, playroom, or media area. Fully fenced backyard offers space to relax or entertain. Conveniently located near parks, schools, and local amenities. Great opportunity for a first-time homebuyer or investment property.

19. 2024-08-29
    historical
20. 2024-08-24
    historical $1,750
21. 2024-08-14
    price $1,750
22. 2024-07-26
    listed $1,850
23. 2024-06-07
    historical $1,850
24. 2024-06-04
    listed $1,850
25. 2024-06-03
    listed $300,000 Active
26. 2024-05-24
    historical $1,850
27. 2024-05-07
    price $1,850
28. 2024-04-27
    listed $1,750
29. 2012-03-30
    soldstatus $70,000
30. 2011-11-03
    historical
31. 2011-10-21
    listed $80,000
32. 2007-12-12
    historical
33. 2007-02-22
    listed $219,900
34. 2006-08-09
    soldstatus $2,600,000

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

Tax reassessment forecast OR · Resets to sale price

• Current annual tax: $2,377 · $198/mo
• Projected year-2 tax: $2,561 · $213/mo
• Expected delta: +$184/yr (+$15/mo · 7.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 18 unhealthy d/yr today · 22 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,010
• − Mortgage interest: −$14,788
• − Property taxes: −$2,377
• − Insurance: −$1,320
• − Repairs & maintenance: −$1,841
• − Management: −$1,841
• − Depreciation: −$7,680
• Taxable loss: −$6,837
• Est. tax savings @ 24.0%: +$1,641
• After-tax cash flow: $-492/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: Jefferson County SD 509J
• NCES district ID: 4106740
• Math proficiency: 19% ▼ -8.00%
• Reading proficiency: 30% ▼ -9.00%
• Median HH income: $42,663
• Composite: 20.9/100
• National rank: #8488
• State rank: #55 of 58 in OR

Livability — Madras

• Score: 67/100
• State rank: #180
• US rank: #11012

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Madras, OR
• County: Jefferson County · 13,663 people
• City population: 13,663
• Metro: The Dalles, OR
• Population (ZIP): 13,663
• Household income: $70,983
• Rent vs Own: 34.3% rent · 65.7% own
• Severe rent burden: 466.0

Population outlook (Jefferson County) Hauer SSP2

• Today (2025): 24,040 people
• By 2030: 24,631 · +2.5%
• By 2040: 25,499 · +6.1%
• By 2050: 25,801 · +7.3%
• By 2075: 25,682 · +6.8%
• By 2100: 22,222 · -7.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 56% Hispanic / Latino 27% Two or more races 19% Native American 8%
• Hispanic origin (detail): Mexican 24%
• Common ancestry: Portuguese 2% Italian 1% Iranian 1%
• Foreign-born: 8% · Canada
• Languages at home: 78% English-only · Spanish 20%

Political lean MEDSL · Jefferson

• 2024 margin: Solid R (+30.2) · D 33.6% · R 63.8% · Other 2.5%
• 2008→2024 swing: -21.5pp toward R · 2008: -8.7pp · 2024: -30.2pp
• All cycles: 2024: R+30.2 2020: R+23.5 2016: R+27.6 2012: R+16.8 2008: R+8.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 29.68%
• Current HPI: 590.9612
• Rent YoY: —
• Metro: The Dalles, 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

-89.7% since first listed

17 events — show timeline

• 2026-04-01 Listed $269,000 MLSCO
• 2024-08-29 Listing Removed — MLSCO
• 2024-08-24 Rental Removed $1,750 APPFOLIO
• 2024-08-14 Price Changed $1,750 APPFOLIO
• 2024-07-26 Listed for Rent $1,850 APPFOLIO
• 2024-06-07 Rental Removed $1,850 APPFOLIO
• 2024-06-04 Listed for Rent $1,850 APPFOLIO
• 2024-06-03 Listed $300,000 MLSCO
• 2024-05-24 Rental Removed $1,850 APPFOLIO
• 2024-05-07 Price Changed $1,850 APPFOLIO
• 2024-04-27 Listed for Rent $1,750 APPFOLIO
• 2012-03-30 Sold (MLS) $70,000 MLSCO
• 2011-11-03 Listing Removed — MLSCO
• 2011-10-21 Listed $80,000 MLSCO
• 2007-12-12 Listing Removed — MLSCO
• 2007-02-22 Listed $219,900 MLSCO
• 2006-08-09 Sold (Public Records) $2,600,000 Public Records

Property tax history

+4.1%/yr

Latest (2025): $2,377 · +1.7% YoY. Source: county tax records.