109 S Trade St

Amity, OR 97101

$182,500B-

4 bd · 1.5 ba · 2,774 sqft · Built 1916 · Other · Active · 58 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,600/mo
• Mortgage (P&I): −$957
• Tax + insurance: −$199
• HOA: −$0
• Vac / Maint / Mgmt: −$546
• Net cashflow: $898/mo
• Annual: $10,777/yr
• Cap rate: 12.20%
• Cash-on-cash: 21.09%
• DSCR: 1.94
• 1% rule: 1.42%
• Cash to close: $51,100

Investor read

• This is a 4-bed/1.5-bath other listed at $182k.
• At list price, monthly cash flow is $898 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $182k).
• It's been on market 58 days — a 3% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $177k (3.0% below list) — sets the bar for market timing.
• 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.
• Location reads 70/100 on livability (#130 in OR) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment B+; Watch: schools C-, health & safety D+, amenities F.
• Amity SD 4J (rural): math 33% / reading 48% proficiency, ranked #94 of 183 in OR (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 47 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 282 units permitted in Yamhill County in 2024 (0 in 5+ unit buildings).
• Yamhill County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts since 5y ago 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 $100k; list at $182k implies a 82% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $51k cash investment doubles in ~6 years — after that, you're playing with house money.
• Cap rate 12.2% vs local median 2.2% in Amity — 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

• It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1916 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.