Is 1501 NE Laughlin Rd #12 in Prineville, OR a good investment?

CashFlowRE grades it D with a 6.2% cap rate and $-12/mo modeled cash flow at a $180,000 list price. See the full underwriting and recommended offer on the page.

What is the cap rate for 1501 NE Laughlin Rd #12?

The modeled cap rate is 6.2% — annual NOI divided by price, using CashFlowRE's rent and expense estimates.

What would this property rent for?

Estimated market rent is $1,622/month, from CashFlowRE's rent model.

D Composite 43.62

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 +12.9/30.0
ARV discount +7.5/15.0
Condition / age +4.8/5.0
1% rule +4.0/10.0
DSCR +3.9/10.0
Rent growth +3.7/5.0
Livability +3.6/5.0
Schools +3.4/10.0
Appreciation +0.0/10.0

$180,000

1501 NE Laughlin Rd #12 · Prineville, OR 97754

2 bd · 2.5 ba · 1,233 sqft · SingleFamily · 124 Days on market

Built 2026 Excellent condition $146/sqft · 54% below area $50/mo HOA · 3% of rent

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks

This brand new, energy-efficient home offers comfort and sustainability with James Hardie siding, a composition roof with a lifetime warranty, and a fully electric solar panel setup. Enjoy triple-pane windows, upgraded insulation, a high efficiency heat pump, and an ERV fresh air recovery system. The home includes Energy Star appliances, 100% LED lighting, and advanced air sealing. The exterior features low-maintenance landscaping with irrigation, a fenced yard, and covered parking with storage. This home is part of Thistle & Nest's affordable housing program and is sold with a 99-year renewable ground lease for the land.

Key facts

James hardie siding
Composition roof
Triple pane windows

What this means for you Summary

Snapshot

This is a 2-bed/2.5-bath single-family listed at $180k. Condition is rated excellent.

Deal economics

At list price, monthly cash flow is $-12 ($-149/yr) — negative.
To cash-flow at today's rent, offer at most $178k (1.0% below list).
To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $162k (9.9% below list).
Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
Cap rate 6.2% vs local median 2.3% 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: Barnes Butte Elementary (math 24% / reading 34%, grade F, #263 of 412 statewide, top 68%, 476 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); 641 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 93d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

It's been on market 124 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $158,400 (12.0% below list)

Questions for the listing agent

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?
It's been on market 124 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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.
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?
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.

Investment metrics

1% rule: 0.90% ✗
Cap rate: 6.21%
Cash-on-cash: -0.30%
DSCR: 0.99
GRM: 9.2

CMA / ARV

ARV (median comp): $387,105
List price: $180,000
Delta: -53.50%
Verdict: UNDERPRICED
Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1087 NE Crista Ct	0.19mi	3/2.0 (+1)	1,280 (+4%)	5mo	$420,000	$328	73
1501 NE Laughlin Rd #14	0.57mi	2/2.5	1,233 (0%)	0mo	$300,000	$243	73
1501 NE Laughlin Rd #16	0.57mi	2/2.5	1,233 (0%)	2mo	$300,000	$243	71
156 NE Spruce Ln	0.21mi	3/1.5 (+1)	1,312 (+6%)	0mo	$439,900	$335	70
1501 NE Laughlin Rd #20	0.57mi	2/2.5	1,233 (0%)	5mo	$300,000	$243	69
1309 NE Barney St	0.59mi	2/2.0	1,217 (-1%)	3mo	$350,000	$288	66
1265 NE Tyler St	0.48mi	2/2.0	1,287 (+4%)	4mo	$364,000	$283	65
2010 NE Laughlin Rd	0.42mi	3/1.0 (+1)	1,289 (+4%)	3mo	$427,500	$332	60
279 SE Laurel Ln	0.45mi	3/2.0 (+1)	1,340 (+9%)	1mo	$420,000	$313	57
958 SE 7th St	0.73mi	3/1.5 (+1)	1,309 (+6%)	5mo	$371,000	$283	42
1501 NE Laughlin Rd #15	0.57mi	3/2.5 (+1)	1,413 (+15%)	5mo	$340,000	$241	40
1501 NE Laughlin Rd #19	0.57mi	3/2.5 (+1)	1,413 (+15%)	5mo	$350,000	$248	39

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: -14.8%
Equity multiple: 0.46×
Total profit: $-27,132
Equity at exit: $26,839

10-year hold

IRR: -3.5%
Equity multiple: 0.75×
Total profit: $-12,654
Equity at exit: $15,563

Cash invested: $50,400 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now: 25 active · 19 under contract
Months of supply: 4.8 mo (21%/mo absorbed)
Median asking: $387,500 ($300/sqft)
Median days on market: 84 d
This list price: lowest-priced of the active set
ARV vs active asking: +4.5% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 97754

Home prices YoY: -1.8%
Rents YoY: 4.7%
Active inventory: 641
Price-to-rent: 9.2×

Monthly cashflow live

Estimated rent: $1,622 high interval (Pro) →
Mortgage (P&I): −$944
Tax est. 1.5%: −$225 /mo · $2,700/yr
Insurance: −$75
HOA: −$50
Lot rent: −$0
Vacancy / Maint / Mgmt: −$341
Net cashflow: $-12

Break-even live

Break-even rent $1,638

Max offer price $178,204

Occupancy floor 96%

Sensitivity live

Price	-10% $112	-5% $50	+0% $-12	+5% $-75	+10% $-137
Rent	-10% $-141	-5% $-76	+0% $-12	+5% $52	+10% $116
Rate	-1.0pp $78	-0.5pp $33	base $-12	+0.5pp $-59	+1.0pp $-107

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: $45,000
Closing costs: $5,400
Club membership (one-time): —
Reserves months: —
Total cash needed: —

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Short-term bridge; refi at stabilization.

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
250 NE Saint Charles Way Prineville, OR	1.0–3.0	1.0–2.0	938	$1,924	$2.05	62d	185	0.46mi
2141 S East Melrose Dr Unit B Prineville, OR	2.0	2.0	903	$1,795	$1.99	92d	1	0.82mi
288 SE 5th St Prineville, OR	3.0	2.5	1430	$1,800	$1.26	92d	2	0.88mi
212 SE 5th St Unit 14 Prineville, OR	2.0	1.0	792	$1,250	$1.58	70d	1	0.93mi
275 SW 2nd St Apt 1 Prineville, OR	2.0	1.0	1050	$1,395	$1.33	62d	1	0.96mi
197 SW 4th St Prineville, OR	2.0	1.0	900	$1,695	$1.88	92d	1	0.96mi
994 SE Willowdale Dr Prineville, OR	2.0	2.0	1152	$1,550	$1.35	70d	1	1.03mi
850 NW 10th St Apt 19 Prineville, OR	2.0	1.0	830	$1,275	$1.54	92d	1	1.31mi
899 NW 10th St Prineville, OR	2.0	2.5	1200	$1,695	$1.41	93d	1	1.32mi

Property features AI

Finance

Other: Building permit issued (217-24-002052-DWL)Flood status: unknown
HOA & community: Has association with a $50 monthly feeCC&Rs applyShort-term rentals not allowed

Exterior

Parking: Attached carportAsphalt drivewayOn-street parking
Security: Carbon monoxide detector(s)Smoke detector(s)
Utilities: Public waterPublic sewerPublic utilitiesSolar PV ready
Home design: Residential property on leased landTwo storiesNew construction (estimated completion April 30, 2026)Built in 2026One common wallR2 zoning
Construction: Frame constructionStemwall foundationBuilder: Hive DevelopmentNew construction
Exterior features: Composition roofFenced yardSmart irrigation with sprinkler timersSprinklers in front and rearPaved road accessENERGY STAR qualified triple-pane windows with vinyl framesCarbon monoxide and smoke detectors

Interior

Kitchen: DishwasherDisposalMicrowaveOvenRangeRange hoodRefrigeratorEating area
Bedrooms: 2 bedrooms (includes a primary bedroom and a second primary)
Flooring: CarpetVinyl
Bathrooms: 2 full bathrooms1 half bathroom
Heating & cooling: Ductless heat pump (ENERGY STAR qualified)Electric heatingHas heating and cooling
Interior features: Fiberglass stall showerOpen floor planShower/tub combo
Laundry & utility: Laundry room

HOA detail $50/mo · $600/yr

Likely covers: electriclandscaping

Listing history 50 events

2026-08-08

days on market $180,000 Active 124 DOM
2026-08-07

days on market $180,000 Active 123 DOM
2026-08-06

days on market $180,000 Active 122 DOM
2026-08-05

days on market $180,000 Active 121 DOM
2026-08-04

days on market $180,000 Active 120 DOM
2026-08-03

days on market $180,000 Active 119 DOM
2026-07-31

days on market $180,000 Active 116 DOM
2026-07-30

days on market $180,000 Active 115 DOM
2026-07-29

days on market $180,000 Active 114 DOM
2026-07-27

days on market $180,000 Active 112 DOM
2026-07-25

days on market $180,000 Active 110 DOM
2026-07-23

days on market $180,000 Active 108 DOM
2026-07-22

days on market $180,000 Active 107 DOM
2026-07-21

days on market $180,000 Active 106 DOM
2026-07-18

days on market $180,000 Active 103 DOM
2026-07-16

days on market $180,000 Active 101 DOM
2026-07-16

days on market $180,000 Active 100 DOM
2026-07-14

pricedays on market $180,000 Active 99 DOM
2026-07-13

days on market $210,000 Active 98 DOM
2026-07-12

days on market $210,000 Active 97 DOM
2026-07-11

days on market $210,000 Active 96 DOM
2026-07-10

days on market $210,000 Active 95 DOM
2026-07-09

days on market $210,000 Active 94 DOM
2026-07-08

days on market $210,000 Active 93 DOM
2026-07-07

days on market $210,000 Active 92 DOM
2026-07-06

days on market $210,000 Active 91 DOM
2026-07-05

days on market $210,000 Active 90 DOM
2026-07-04

days on market $210,000 Active 89 DOM
2026-07-03

days on market $210,000 Active 88 DOM
2026-07-02

days on market $210,000 Active 87 DOM
2026-07-01

days on market $210,000 Active 86 DOM
2026-06-30

days on market $210,000 Active 85 DOM
2026-06-29

days on market $210,000 Active 84 DOM
2026-06-28

days on market $210,000 Active 83 DOM
2026-06-28

days on market $210,000 Active 82 DOM
2026-06-27

days on market $210,000 Active 81 DOM
2026-06-25

days on market $210,000 Active 79 DOM
2026-06-23

days on market $210,000 Active 77 DOM
2026-06-21

days on market $210,000 Active 76 DOM
2026-06-18

days on market $210,000 Active 73 DOM
2026-06-17

days on market $210,000 Active 72 DOM
2026-06-16

days on market $210,000 Active 71 DOM
2026-06-15

days on market $210,000 Active 70 DOM
2026-06-14

days on market $210,000 Active 68 DOM
2026-06-13

days on market $210,000 Active 67 DOM
2026-06-10

days on market $210,000 Active 65 DOM
2026-06-09

days on market $210,000 Active 64 DOM
2026-06-08

days on market $210,000 Active 63 DOM
2026-06-07

days on market $210,000 Active 62 DOM
2026-06-05

days on market $210,000 Active 59 DOM

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

Climate risk First Street

🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
🔥 Wildfire 5/10 Major
🌡 Heat 4/10 Moderate 8 d/yr ≥93°F today · 18 d/yr by 30 yrs out
💨 Wind 1/10 Low
🫁 Air quality 9/10 Extreme 14 unhealthy d/yr today · 19 by 30 yrs out

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income: $19,466
− Mortgage interest: −$10,083
− Property taxes: −$2,700
− Insurance: −$900
− Repairs & maintenance: −$1,557
− Management: −$1,557
− HOA: −$600
− Depreciation: −$5,236
Taxable loss: −$3,167

Your marginal tax rate % combined federal + state — saved on this device

Est. tax savings @ 24.0%: +$760
After-tax cash flow: $611/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.

Condition & rehab AI · 3 photos

Excellent 95/100 None rehab

This brand new, energy-efficient home is move-in ready with excellent condition and no visible repairs needed. It offers a high ROI with updates that can further enhance its resale and rental value.

Value-add opportunities

Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
Both Install smart home devices — Improves convenience and energy efficiency ↑
Both Add smart thermostat — Enhances comfort and energy savings ↑
Both Install smart lighting — Saves energy and enhances ambiance ↑

F Composite school gradezoned avg 34/100

Zoned Schools

Elementary Barnes Butte Elementary F OR #263/412 Nat'l #26,716/41,679 Middle Crook County Middle School F OR #48/128 Nat'l #6,708/14,009 High Crook County High School

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

B Composite livability gradescore 71/100

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 · 23,232 people
City population: 22,960
Metro: Prineville, OR
Population (ZIP): 22,960
Household income: $77,199
Rent vs Own: 27.1% rent · 72.9% own
Severe rent burden: 12% of renters

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
#90 Nike Beaverton $51.4B

Price history

1 event — show timeline

2026-04-06 Listed $210,000 MLSCO

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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