34931 Jackson Way #36

Scappoose, OR 97056

$79,999B

2 bd · 2.0 ba · 1,248 sqft · Built 1979 · Manufactured · Pending · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,050/mo
• Mortgage (P&I): −$420
• Tax + insurance: −$133
• HOA: −$0
• Vac / Maint / Mgmt: −$430
• Net cashflow: $1,066/mo
• Annual: $12,795/yr
• Cap rate: 22.29%
• Cash-on-cash: 57.12%
• DSCR: 3.54
• 1% rule: 2.56%
• Cash to close: $22,400

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $80k. Condition is rated fair.
• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• It's been on market 22 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 84/100 on livability (#35 in OR, #812 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, health & safety A+; Watch: cost of living D.
• Scappoose SD 1J (town): math 37% / reading 51% proficiency, ranked #69 of 183 in OR (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Grant Watts Elementary School (reading 54%, 346 students, 38% FRL); Scappoose Middle School (math 30% / reading 75%, grade C+, #24 of 128 statewide, top 18%, 313 students, 28% FRL); Scappoose High School (656 students, 24% FRL) — zoned schools at 30% FRL track the district average.
• Market conditions: 147 active listings in the ZIP; 55 units permitted in Columbia County in 2024 (0 in 5+ unit buildings).
• Columbia County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 22.3% vs local median 2.9% in Scappoose — 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

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1979 — 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.
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: kitchen cabinets — dated and worn
• Major: bathroom wallpaper — poor condition, likely peeling
• Minor: exterior landscaping — some overgrown grass