1880 NW Deette Dr

Cedar Mill, OR 97229

$925,000D-

5 bd · 3.0 ba · 3,352 sqft · Built 2013 · SingleFamily · Active · 76 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $6,632/mo
• Mortgage (P&I): −$4,851
• Tax + insurance: −$1,507
• HOA: −$0
• Vac / Maint / Mgmt: −$1,393
• Net cashflow: $-1,118/mo
• Annual: $-13,420/yr
• Cap rate: 4.84%
• Cash-on-cash: -5.18%
• DSCR: 0.77
• 1% rule: 0.72%
• Cash to close: $259,000

Investor read

• This is a 5-bed/3.0-bath single-family listed at $925k.
• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• To cash-flow at today's rent, offer at most $727k (21.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $663k (28.3% below list).
• It's been on market 76 days — a 6% lower offer ($870k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $663k (28.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $28k of value loss. Plan a longer hold.
• Location reads 85/100 on livability (#22 in OR, #506 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, health & safety A+; Watch: cost of living F.
• Beaverton SD 48J (urban): math 68% / reading 76% proficiency, ranked #3 of 58 in OR (top 5%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: Rents soft (-1.4%/yr); 622 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 2,224 units permitted in Washington County in 2024 (242 in 5+ unit buildings).
• Washington County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 6 sale attempts since 15y ago; this cycle's ask has dropped $50k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $776k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Cap rate 4.8% vs local median 2.4% in Cedar Mill — 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.
• At $6,632/mo this rent would consume 49% of the median local household income ($162k/yr) (locally 1769% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for 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 76 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
• 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.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.