650 NW Harwood St Unit 5 · Prineville, OR 97754

$28,000

2 bd · 2.0 ba · 924 sqft · Manufactured public records · 300 Days on market

Built 1979

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +3.7/5.0
• Livability +3.6/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Priced to Sell! Opportunity awaits with this 924 sq ft, 2-bedroom, 2-bath manufactured home located in a well-established park. This home is priced to sell and offers great potential for buyers looking to renovate and build equity. The layout provides comfortable living space, with bedrooms on opposite ends for added privacy. The home needs repairs, including flooring and electrical work, making it an ideal option for investors or handy buyers ready to customize to their taste. Roof has been updated and insulation added to the unit 4 years ago. All offers will be reviewed. With approval, financing may be available, adding flexibility for qualified buyers. Bring your vision and turn this hom

Key facts

• Built 1979
• Listed 300 days

Property features AI

Finance

• Financial info: Monthly land lease of $755
• HOA & community: No CCRs

Exterior

• Parking: Gravel parking; On-street parking available
• Security: No audio or video surveillance on premises
• Utilities: Public water; Public sewer; Electricity connected
• Home design: Single-wide mobile home; Located in a managed park (may remain in park); One level; Built in 1979
• Construction: Membrane roof; Wood skirting; Foundation details unknown
• Exterior features: Vinyl-framed windows; Gravel road surface; Located in a flood plain

Interior

• Kitchen: Includes standard appliances (range, dishwasher, refrigerator)
• Bedrooms: 2 bedrooms
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric forced-air heating; No cooling
• Interior features: Living room fireplace; Dishwasher; Dryer; Range; Refrigerator; Washer; Water heater
• Laundry & utility: Laundry area; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $28k.

Deal economics

• At list price, monthly cash flow is $513 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $28k).
• Recommended offer: $25k (12.0% below list) — sets the bar for market timing.
• Cap rate 46.5% vs local median 2.1% in Prineville — 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 71/100 on livability (#117 in OR) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, crime B+; Watch: health & safety C-, commute F, employment F.
• Crook County SD (town): math 34% / reading 45% proficiency, ranked #19 of 58 in OR (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Crooked River Elementary School (math 54% / reading 44%, grade D, #108 of 412 statewide, top 31%, 506 students, 64% FRL); Crook County Middle School (math 28% / reading 47%, grade F, #48 of 128 statewide, top 38%, 617 students, 36% FRL); Crook County High School (830 students, 30% FRL).
• Market conditions: Rents rising fast (+4.7%/yr); 534 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 142 units permitted in Crook County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $194 of loan paydown is wiped out by about $840 of value loss. Plan a longer hold.
• Crook County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 4.7% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 300 days — a 12% lower offer ($25k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $7k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $6k; list at $28k implies a 331% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $24,640 (12.0% below list)

Questions for the listing agent

1. It's been on market 300 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 5.07% ✓
• Cap rate: 46.54%
• Cash-on-cash: 143.75%
• DSCR: 7.40
• GRM: 1.6

CMA / ARV

• ARV (on-the-fly): $155,232
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
185 NW Harwood St Spc 21	0.36mi	2/1.0	972 (+5%)	2mo	$110,000	$113	69
185 NW Harwood St Spc 111	0.36mi	2/2.0	858 (-7%)	4mo	$105,000	$122	68
185 NW Harwood St #32	0.36mi	3/2.0 (+1)	960 (+4%)	7mo	$161,000	$168	66
185 NW Harwood Spc 2	0.36mi	2/1.0	840 (-9%)	11mo	$150,000	$179	54

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 · 4.67% rent growth · sell at horizon

5-year hold

• IRR: 81.8%
• Equity multiple: 4.93×
• Total profit: $30,815
• Equity at exit: $4,175

10-year hold

• IRR: 85.9%
• Equity multiple: 11.24×
• Total profit: $80,306
• Equity at exit: $2,421

Cash invested: $7,840 (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 97754

• Home prices YoY: -1.8%
• Rents YoY: 4.7%
• Active inventory: 534
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $1,421 high
• Mortgage (P&I): −$147
• Tax from tax record: −$25 /mo · $299/yr
• Insurance: −$12
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $513

Break-even live

Break-even rent $772

Max offer price $28,000

Occupancy floor 59%

Sensitivity live

Price	-10% $528	-5% $521	+0% $513	+5% $505	+10% $497
Rent	-10% $400	-5% $456	+0% $513	+5% $569	+10% $625
Rate	-1.0pp $527	-0.5pp $520	base $513	+0.5pp $505	+1.0pp $498

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: $7,000
• Closing costs: $840
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
850 NW 10th St Apt 19 Prineville, OR	2.0	1.0	830	$1,275	$1.54	44d	1	0.28mi
275 SW 2nd St Apt 1 Prineville, OR	2.0	1.0	1050	$1,395	$1.33	14d	1	0.46mi
197 SW 4th St Prineville, OR	2.0	1.0	900	$1,695	$1.88	44d	1	0.58mi
212 SE 5th St Unit 14 Prineville, OR	2.0	1.0	792	$1,250	$1.58	22d	1	0.73mi
2061 NE Wolverine Loop Unit 2065 Prineville, OR	1.0	1.0	536	$1,145	$2.14	44d	1	1.25mi
2065 NE Wolverine Loop Unit 2065 Prineville, OR	1.0	1.0	536	$1,150	$2.15	22d	1	1.25mi

Listing history 25 events

1. 2026-06-18
   days on market $28,000 Active 300 DOM
2. 2026-06-17
   days on market $28,000 Active 299 DOM
3. 2026-06-16
   days on market $28,000 Active 298 DOM
4. 2026-06-15
   days on market $28,000 Active 297 DOM
5. 2026-06-14
   days on market $28,000 Active 295 DOM
6. 2026-06-13
   days on market $28,000 Active 294 DOM
7. 2026-06-10
   days on market $28,000 Active 292 DOM
8. 2026-06-09
   days on market $28,000 Active 291 DOM
9. 2026-06-08
   days on market $28,000 Active 290 DOM
10. 2026-06-07
    days on market $28,000 Active 289 DOM
11. 2026-06-05
    days on market $28,000 Active 286 DOM
12. 2026-06-02
    days on market $28,000 Active 284 DOM
13. 2026-06-01
    days on market $28,000 Active 283 DOM
14. 2026-05-31
    statusdays on market $28,000 Active 282 DOM
15. 2026-05-14
    status Pending
16. 2026-05-09
    status Active
17. 2026-04-14
    status Pending
18. 2025-10-22
    price $28,000
19. 2025-08-16
    price $30,000
20. 2025-07-11
    listed $35,000 Active
21. 1999-03-22
    soldstatus $6,500
22. 1996-01-22
    soldstatus $10,000
23. 1994-03-01
    soldstatus $6,000
24. 1994-02-01
    soldstatus $6,200
25. 1987-10-01
    soldstatus $14,400

ⓘ 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: $299 · $25/mo
• Projected year-2 tax: $299 · $25/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone AE · 77% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 13 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,052
• − Mortgage interest: −$1,568
• − Property taxes: −$299
• − Insurance: −$5,258
• − Repairs & maintenance: −$1,364
• − Management: −$1,364
• − Depreciation: −$815
• Taxable income: $6,383
• Est. tax owed @ 24.0%: −$1,532
• After-tax cash flow: $4,619/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: Crook County SD
• NCES district ID: 4103720
• Math proficiency: 34% ▼ -5.00%
• Reading proficiency: 45% ▼ -10.00%
• Median HH income: $41,394
• Composite: 33.22/100
• National rank: #5527
• State rank: #19 of 58 in OR

Livability — Prineville

• Score: 71/100
• State rank: #117
• US rank: #6885

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Prineville, OR
• County: Crook County · 22,960 people
• Metro: Prineville, OR
• Population (ZIP): 22,960
• Household income: $77,199
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 481.0

Population outlook (Crook County) Hauer SSP2

• Today (2025): 23,232 people
• By 2030: 23,833 · +2.6%
• By 2040: 24,531 · +5.6%
• By 2050: 24,639 · +6.1%
• By 2075: 24,026 · +3.4%
• By 2100: 21,419 · -7.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 8% Two or more races 7% Native American 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 5% Portuguese 2% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Crook

• 2024 margin: Solid R (+50.8) · D 23.5% · R 74.3% · Other 2.2%
• 2008→2024 swing: -24.3pp toward R · 2008: -26.4pp · 2024: -50.8pp
• All cycles: 2024: R+50.8 2020: R+48.5 2016: R+49.8 2012: R+36.5 2008: R+26.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -10.01%
• Current HPI: 533.6457
• Rent YoY: ▲ 4.67%
• Metro: Prineville, 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

+94.4% since first listed

11 events — show timeline

• 2026-05-14 Pending — MLSCO
• 2026-05-09 Relisted — MLSCO
• 2026-04-14 Pending — MLSCO
• 2025-10-22 Price Changed $28,000 MLSCO
• 2025-08-16 Price Changed $30,000 MLSCO
• 2025-07-11 Listed $35,000 MLSCO
• 1999-03-22 Sold (Public Records) $6,500 Public Records
• 1996-01-22 Sold (Public Records) $10,000 Public Records
• 1994-03-01 Sold (Public Records) $6,000 Public Records
• 1994-02-01 Sold (Public Records) $6,200 Public Records
• 1987-10-01 Sold (Public Records) $14,400 Public Records

Property tax history

+45.0%/yr

Latest (2025): $299 · +2.5% YoY. Source: county tax records.