355 Colver Rd Unit 48

Talent, OR 97540

$69,000C+

2 bd · 1.0 ba · 1,008 sqft · Built 1974 · Land · Active · 100 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,809/mo
• Mortgage (P&I): −$362
• Tax + insurance: −$61
• HOA: −$0
• Vac / Maint / Mgmt: −$380
• Net cashflow: $1,006/mo
• Annual: $12,074/yr
• Cap rate: 23.79%
• Cash-on-cash: 62.49%
• DSCR: 3.78
• 1% rule: 2.62%
• Cash to close: $19,320

Investor read

• This is a 2-bed/1.0-bath land listed at $69k.
• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $69k).
• It's been on market 100 days — a 9% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $63k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $477 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#95 in OR, #4,794 nationally) — a middle-class / working-renter tenant base. Strengths: health & safety A+, commute A, crime B+; Watch: housing C-, amenities D-, employment F.
• Phoenix-Talent SD 4 (suburban): math 14% / reading 32% proficiency, ranked #58 of 58 in OR (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Talent Elementary School (math 15% / reading 34%, grade F, #309 of 412 statewide, top 77%, 345 students, 78% FRL); Talent Middle School (math 10% / reading 33%, grade F, #122 of 128 statewide, top 95%, 473 students, 79% FRL); Phoenix High School (math 24% / reading 70%, grade D-, #56 of 143 statewide, top 41%, 700 students, 79% FRL) — zoned schools average 79% FRL vs 60% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 86 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 904 units permitted in Jackson County in 2024 (212 in 5+ unit buildings).
• Jackson County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts since 15y ago; this cycle's ask has dropped $6k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $13k; list at $69k implies a 431% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 23.8% vs local median 2.6% in Talent — 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.
• This rent runs 33% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 100 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.