105 Beach Blvd Unit E

Winchester Bay, OR 97467

$45,000B-

2 bd · 1.0 ba · 784 sqft · Built 1982 · Manufactured · Pending · 60 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,202/mo
• Mortgage (P&I): −$236
• Tax + insurance: −$75
• HOA: −$0
• Vac / Maint / Mgmt: −$252
• Net cashflow: $638/mo
• Annual: $7,660/yr
• Cap rate: 23.32%
• Cash-on-cash: 60.79%
• DSCR: 3.70
• 1% rule: 2.67%
• Cash to close: $12,600

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $45k. Condition is rated fair.
• At list price, monthly cash flow is $638 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• It's been on market 60 days — a 3% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $44k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 60/100 on livability (#290 in OR) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A; Watch: health & safety C-, schools F, amenities F.
• Reedsport SD 105 (town): math 28% / reading 42% proficiency, ranked #143 of 183 in OR (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 69 active listings in the ZIP; 190 units permitted in Douglas County in 2024 (0 in 5+ unit buildings).
• Douglas County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Kitchen cabinets — Worn but not damaged.
• Minor: Bathroom fixtures — Worn but functional.
• Moderate: Exterior siding — Weathered appearance.
• Minor: Flooring — Worn carpet.