3300 Main St #105 · Forest Grove, OR 97116

$140,000

2 bd · 2.0 ba · 1,080 sqft · Manufactured public records · 16 Days on market

Built 1993 Est $136k · at est.

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Why this score? — see what drove the C+ 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 +28.2/30.0
• DSCR +10.0/10.0
• 1% rule +6.8/10.0
• ARV discount +6.2/15.0
• Livability +4.0/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits in Quail Run Estates! This 3-bedroom, 2-bath, 1,080 SF double-wide manufactured home offers a functional floor plan and plenty of potential. Seller updated the electrical panel. Home has a skylight, primary suite with walk-in steam shower, and roof is approximately 6-7 years old. Enjoy the covered breezeway leading to a detached shop with wood stove insert, plus additional storage under the carport. Fully fenced yard. Space rent is $1,030/month and includes water and sewer. Basic cable provided through the park. Conveniently located near Forest Grove High School, public transportation, and downtown Forest Grove. Home sold AS-IS.

Key facts

• Covered breezeway
• Skylight
• Fully fenced yard

Tags

• UPDATED ELECTRICAL PANEL
• SKYLIGHT
• COVERED BREEZEWAY
• FULLY FENCED YARD

Property features AI

Finance

• Other: Located in Quail Run Estates (park); Lot rent listed monthly
• HOA & community: Community provides water and sewer

Exterior

• Parking: Carport; On-street parking
• Security: Security features: Unknown
• Utilities: Public water; Public sewer; Electricity and wood burning fuel options; Internet service: other
• Home design: Manufactured home in a park; One-level living; Fixer condition
• Construction: Built in 1993; T-111 siding; Composition roof; Block foundation
• Exterior features: Fenced yard; Outbuilding; Tool shed; Workshop

Interior

• Kitchen: Free-standing range; Free-standing refrigerator
• Bedrooms: Primary bedroom on main level; Second bedroom on main level; Third bedroom on main level
• Flooring: Vinyl flooring
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Forced-air heating; No central cooling; Hot water: electric
• Interior features: Skylights; Vinyl flooring; Double-pane windows; Washer and dryer present; Wood-burning stove fireplace
• Laundry & utility: Utility room on main level; Washer and dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $140k.

Deal economics

• At list price, monthly cash flow is $443 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $138k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 2.5% in Forest Grove — 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 80/100 on livability (#55 in OR, #1,748 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: cost of living D, amenities D-.
• Forest Grove SD 15 (suburban): math 32% / reading 46% proficiency, ranked #111 of 183 in OR (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Harvey Clarke Elementary School (425 students, 32% FRL); Neil Armstrong Middle School (math 24% / reading 75%, grade C, #26 of 128 statewide, top 21%, 826 students, 48% FRL); Forest Grove High School (1,977 students, 41% FRL).
• Market conditions: Rents soft (-0.0%/yr); 209 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,224 units permitted in Washington County in 2024 (242 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Washington County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $27k; list at $140k implies a 418% gain — meaningful room to come down on a strong offer.

Recommended offer $137,900 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.18% ✓
• Cap rate: 10.09%
• Cash-on-cash: 13.55%
• DSCR: 1.60
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $136,080
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3300 Main St #110	0.00mi	3/2.0 (+1)	1,188 (+10%)	6mo	$147,500	$124	73
3300 Main St #41	0.00mi	3/2.0 (+1)	1,188 (+10%)	8mo	$134,270	$113	72
3300 Main St #120	0.10mi	3/2.0 (+1)	1,188 (+10%)	9mo	$150,000	$126	66
3300 Main St #139	0.10mi	2/2.0	1,232 (+14%)	8mo	$167,650	$136	65
3300 Main St #62	0.00mi	3/2.0 (+1)	1,188 (+10%)	16mo	$149,900	$126	65
3300 Main St #64	0.05mi	3/2.0 (+1)	1,188 (+10%)	24mo	$170,000	$143	56

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 0.4%
• Equity multiple: 1.02×
• Total profit: $614
• Equity at exit: $20,874

10-year hold

• IRR: 7.0%
• Equity multiple: 1.46×
• Total profit: $17,917
• Equity at exit: $12,105

Cash invested: $39,200 (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 →

ZIP-level market 97116

• Rents YoY: -0.0%
• Active inventory: 209
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,657 high
• Mortgage (P&I): −$734
• Tax from tax record: −$74 /mo · $889/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $443

Break-even live

Break-even rent $1,097

Max offer price $140,000

Occupancy floor 68%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2736 Main St Forest Grove, OR	2.0	1.5	900	$1,449	$1.61	1d	1	0.46mi
2327 Turnbull Ct Forest Grove, OR	3.0	2.5	1447	$2,295	$1.59	23d	1	0.79mi
1907 23rd Ave Unit 6 Forest Grove, OR	1.0	1.0	700	$1,150	$1.64	7d	1	0.82mi
2564 Hawthorne St Forest Grove, OR	1.0–2.0	1.0–2.0	878	$1,695	$1.93	23d	2	0.89mi
1509 22nd Ave Apt 8 Forest Grove, OR	2.0	1.0	832	$1,500	$1.80	20d	1	0.99mi
1509 22nd Ave Forest Grove, OR	2.0	1.0	832	$1,500	$1.80	1d	1	0.99mi
1733 21st Ave Unit A Forest Grove, OR	3.0	1.0	850	$1,700	$2.00	23d	1	1.03mi
1733 21st Ave Unit C Forest Grove, OR	2.0	1.0	706	$1,500	$2.12	43d	1	1.03mi
2223 Hawthorne St Apt C Forest Grove, OR	2.0	1.0	760	$1,395	$1.84	7d	1	1.14mi
2528 21st Ave Unit 6 Forest Grove, OR	2.0	1.0	850	$1,450	$1.71	43d	1	1.19mi
2737 Maywood Dr Forest Grove, OR	2.0	1.0	950	$2,095	$2.21	43d	1	1.22mi
2825 Pacific Ave Apt E Forest Grove, OR	2.0	1.5	1000	$1,600	$1.60	2d	1	1.34mi
1719 Main St Unit 2 Forest Grove, OR	2.0	1.5	1250	$1,495	$1.20	23d	1	1.36mi
1718 Birch St Unit A Forest Grove, OR	2.0	1.0	875	$1,575	$1.80	7d	1	1.37mi
1806 Elm St Unit 5 Forest Grove, OR	2.0	1.0	920	$1,295	$1.41	23d	1	1.37mi
40074 NW Verboort Rd Forest Grove, OR	2.0	1.0	932	$1,895	$2.03	14d	1	1.43mi
1655 Douglas St Apt 10 Forest Grove, OR	2.0	1.5	850	$1,795	$2.11	7d	1	1.47mi
1655 Douglas St Apt 3 Forest Grove, OR	2.0	1.0	800	$1,699	$2.12	43d	1	1.49mi
3220 22nd Ave Forest Grove, OR	1.0–2.0	1.0	691	$1,595	$2.31	1d	3	1.49mi
2840 19th Ave Unit 7 Forest Grove, OR	3.0	2.5	1250	$2,500	$2.00	1d	1	1.49mi

Listing history 12 events

1. 2026-06-18
   days on market $140,000 Active 16 DOM
2. 2026-06-17
   price $140,000 Active 15 DOM
3. 2026-06-17
   days on market $150,000 Active 15 DOM
4. 2026-06-16
   days on market $150,000 Active 14 DOM
5. 2026-06-15
   days on market $150,000 Active 13 DOM
6. 2026-06-13
   days on market $150,000 Active 11 DOM
7. 2026-06-09
   days on market $150,000 Active 7 DOM
8. 2026-06-08
   days on market $150,000 Active 6 DOM
9. 2026-06-07
   days on market $150,000 Active 5 DOM
10. 2026-06-05
    days on market $150,000 Active 2 DOM
11. 2026-06-03
    remarks 655-char remark
12. 2026-06-03
    listed $150,000 Active 1 DOM

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

Tax reassessment forecast OR · Resets to sale price

• Current annual tax: $889 · $74/mo
• Projected year-2 tax: $1,358 · $113/mo
• Expected delta: +$469/yr (+$39/mo · 52.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 9 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,888
• − Mortgage interest: −$7,842
• − Property taxes: −$889
• − Insurance: −$700
• − Repairs & maintenance: −$1,591
• − Management: −$1,591
• − Depreciation: −$4,073
• Taxable income: $3,202
• Est. tax owed @ 24.0%: −$768
• After-tax cash flow: $4,544/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.

Schools (NCES district)

• District: Forest Grove SD 15
• NCES district ID: 4105160
• Math proficiency: 32% ▼ -4.00%
• Reading proficiency: 46% ▼ -4.00%
• Median HH income: $52,159
• Composite: 36.31/100
• National rank: #9395
• State rank: #111 of 183 in OR

Livability — Forest Grove

• Score: 80/100
• State rank: #55
• US rank: #1748

Category grades

Amenities D- Commute A+ Cost of living D Crime C Employment A- Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Forest Grove, OR
• County: Washington County · 583,254 people
• City population: 29,800
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 29,800
• Household income: $92,613
• Rent vs Own: 33.6% rent · 66.4% own
• Severe rent burden: 1124.0

Population outlook (Washington County) Hauer SSP2

• Today (2025): 674,042 people
• By 2030: 721,804 · +7.1%
• By 2040: 812,732 · +20.6%
• By 2050: 895,143 · +32.8%
• By 2075: 1,058,806 · +57.1%
• By 2100: 1,131,692 · +67.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 27% Two or more races 12% Black 2% Asian 2%
• Hispanic origin (detail): Mexican 24%
• Common ancestry: Italian 4% Portuguese 4% Iranian 3%
• Foreign-born: 12% · Canada, China
• Languages at home: 78% English-only · Spanish 19%

Political lean MEDSL · Washington

• 2024 margin: Solid D (+34.0) · D 65.3% · R 31.3% · Other 3.4%
• 2008→2024 swing: +11.8pp toward D · 2008: 22.1pp · 2024: 34.0pp
• All cycles: 2024: D+34.0 2020: D+34.6 2016: D+26.7 2012: D+17.5 2008: D+22.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -440.45%
• Current HPI: 286.6018
• Rent YoY: ▬ -0.02%
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• State GDP YoY: ▲ 2.05%
• F500 in state: 2

Industry mix (Fortune 500 HQ in OR)

Industry	F500 HQs	Revenue
▸Consumer Goods	1	$51B

Price history

+454.7% since first listed

2 events — show timeline

• 2026-06-02 Listed $150,000 RMLS
• 1993-01-28 Sold (Public Records) $27,043 Public Records

Property tax history

+2.6%/yr

Latest (2025): $889 · +2.7% YoY. Source: county tax records.