1530 Tamarack St

Sweet Home, OR 97386

$99,900C+

3 bd · 2.0 ba · 1,512 sqft · Built 1988 · Land · Active · 21 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,728/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$166
• HOA: −$0
• Vac / Maint / Mgmt: −$363
• Net cashflow: $674/mo
• Annual: $8,093/yr
• Cap rate: 14.39%
• Cash-on-cash: 28.93%
• DSCR: 2.29
• 1% rule: 1.73%
• Cash to close: $27,972

Investor read

• This is a 3-bed/2.0-bath land listed at $100k.
• At list price, monthly cash flow is $674 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• It's been on market 21 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#233 in OR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Sweet Home SD 55 (town): math 26% / reading 42% proficiency, ranked #29 of 58 in OR (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Foster Elementary School (math 24% / reading 47%, grade F, #211 of 412 statewide, top 52%, 340 students, 68% FRL); Sweet Home Junior High School (math 20% / reading 47%, grade F, #73 of 128 statewide, top 57%, 383 students, 68% FRL); Sweet Home High School (math 22% / reading 64%, grade F, #63 of 143 statewide, top 44%, 684 students, 68% FRL).
• Market conditions: 166 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 311 units permitted in Linn County in 2024 (60 in 5+ unit buildings).
• Linn County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts 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 $48k; list at $100k implies a 108% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 14.4% vs local median 2.9% in Sweet Home — 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.

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 D-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.