None · Phoenix, OR 97535

$125,000

2 bd · 1.0 ba · 1,440 sqft · Land public records · 60 Days on market

Built 1989 $87/sqft · 50% below area Est $250k · 50% under

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Why this score? — see what drove the B 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Back on market no fault of the property! Bright and sunny interiors, upgraded finishes, and impeccable maintenance promise true move-in ready comfort in this charming two-bedroom, two-bath manufactured home. Even more valuable may be what you don't see: all-new energy-efficient double-paned windows, fresh insulation under the subfloor, and an insulated water heater work together to guarantee year-round comfort and surprisingly low utility bills. You'll love the spacious kitchen with tiled countertops and backsplash, generous cabinet space, and a breakfast bar -- all appliances included. Cathedral ceilings and fresh paint add to the open, airy feel, while tiled entries make upkeep effortless. A cozy family room adds versatile additional space. The conveniently located 55+ park offers a pool and clubhouse for an easy, active lifestyle. Just unpack and enjoy everything this welcoming community has to offer.

Key facts

• Spacious kitchen
• Cathedral ceilings
• Breakfast bar

Tags

• INSULATED WATER HEATER
• SPACIOUS KITCHEN
• TILED COUNTERTOPS
• BREAKFAST BAR
• ALL APPLIANCES INCLUDED
• CATHEDRAL CEILINGS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath land listed at $125k.

Deal economics

• At list price, monthly cash flow is $556 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $121k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.6% vs local median 4.7% in Phoenix — 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 83/100 on livability (#38 in OR, #884 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: crime C-, schools D+, employment D+.
• Phoenix-Talent SD 4 (suburban): math 14% / reading 32% proficiency, ranked #58 of 58 in OR (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 65 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 904 units permitted in Jackson County in 2024 (212 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Jackson County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 9y 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.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $121,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.37% ✓
• Cap rate: 11.63%
• Cash-on-cash: 19.05%
• DSCR: 1.85
• GRM: 6.1

CMA / ARV

• ARV (median comp): $250,000
• List price: $125,000
• Delta: -50.00%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.9%
• Equity multiple: 1.43×
• Total profit: $15,116
• Equity at exit: $18,638

10-year hold

• IRR: 19.9%
• Equity multiple: 2.68×
• Total profit: $58,668
• Equity at exit: $10,808

Cash invested: $35,000 (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 97535

• Home prices YoY: -26.5%
• Active inventory: 65
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,713 high
• Mortgage (P&I): −$656
• Tax from tax record: −$90 /mo · $1,077/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $556

Break-even live

Break-even rent $1,009

Max offer price $125,000

Occupancy floor 63%

Sensitivity live

Price	-10% $626	-5% $591	+0% $556	+5% $520	+10% $485
Rent	-10% $420	-5% $488	+0% $556	+5% $623	+10% $691
Rate	-1.0pp $619	-0.5pp $587	base $556	+0.5pp $523	+1.0pp $490

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
412 Oak St Unit 2 Phoenix, OR	3.0	2.5	1368	$1,750	$1.28	44d	1	0.40mi
211 W 1st St Apt B Phoenix, OR	2.0	1.5	1250	$1,600	$1.28	14d	1	0.60mi
110 6th St Phoenix, OR	3.0	1.0	1040	$1,895	$1.82	22d	1	0.92mi
110 6th St Phoenix, OR	3.0	1.0	1040	$1,895	$1.82	14d	1	0.92mi
204 Cheryl Ln Unit J Phoenix, OR	2.0	1.5	1008	$1,350	$1.34	44d	1	1.20mi

Listing history 16 events

1. 2026-05-03
   status Pending 917-char remark

   Show marketing remark (917 chars)

   Back on market no fault of the property! Bright and sunny interiors, upgraded finishes, and impeccable maintenance promise true move-in ready comfort in this charming two-bedroom, two-bath manufactured home. Even more valuable may be what you don't see: all-new energy-efficient double-paned windows, fresh insulation under the subfloor, and an insulated water heater work together to guarantee year-round comfort and surprisingly low utility bills. You'll love the spacious kitchen with tiled countertops and backsplash, generous cabinet space, and a breakfast bar -- all appliances included. Cathedral ceilings and fresh paint add to the open, airy feel, while tiled entries make upkeep effortless. A cozy family room adds versatile additional space. The conveniently located 55+ park offers a pool and clubhouse for an easy, active lifestyle. Just unpack and enjoy everything this welcoming community has to offer.

2. 2026-03-31
   status Active 917-char remark

   Show marketing remark (917 chars)

   Back on market no fault of the property! Bright and sunny interiors, upgraded finishes, and impeccable maintenance promise true move-in ready comfort in this charming two-bedroom, two-bath manufactured home. Even more valuable may be what you don't see: all-new energy-efficient double-paned windows, fresh insulation under the subfloor, and an insulated water heater work together to guarantee year-round comfort and surprisingly low utility bills. You'll love the spacious kitchen with tiled countertops and backsplash, generous cabinet space, and a breakfast bar -- all appliances included. Cathedral ceilings and fresh paint add to the open, airy feel, while tiled entries make upkeep effortless. A cozy family room adds versatile additional space. The conveniently located 55+ park offers a pool and clubhouse for an easy, active lifestyle. Just unpack and enjoy everything this welcoming community has to offer.

3. 2026-03-25
   status Pending 917-char remark

   Show marketing remark (917 chars)

   Back on market no fault of the property! Bright and sunny interiors, upgraded finishes, and impeccable maintenance promise true move-in ready comfort in this charming two-bedroom, two-bath manufactured home. Even more valuable may be what you don't see: all-new energy-efficient double-paned windows, fresh insulation under the subfloor, and an insulated water heater work together to guarantee year-round comfort and surprisingly low utility bills. You'll love the spacious kitchen with tiled countertops and backsplash, generous cabinet space, and a breakfast bar -- all appliances included. Cathedral ceilings and fresh paint add to the open, airy feel, while tiled entries make upkeep effortless. A cozy family room adds versatile additional space. The conveniently located 55+ park offers a pool and clubhouse for an easy, active lifestyle. Just unpack and enjoy everything this welcoming community has to offer.

4. 2026-02-27
   listed $125,000 Active 917-char remark

   Show marketing remark (917 chars)

   Back on market no fault of the property! Bright and sunny interiors, upgraded finishes, and impeccable maintenance promise true move-in ready comfort in this charming two-bedroom, two-bath manufactured home. Even more valuable may be what you don't see: all-new energy-efficient double-paned windows, fresh insulation under the subfloor, and an insulated water heater work together to guarantee year-round comfort and surprisingly low utility bills. You'll love the spacious kitchen with tiled countertops and backsplash, generous cabinet space, and a breakfast bar -- all appliances included. Cathedral ceilings and fresh paint add to the open, airy feel, while tiled entries make upkeep effortless. A cozy family room adds versatile additional space. The conveniently located 55+ park offers a pool and clubhouse for an easy, active lifestyle. Just unpack and enjoy everything this welcoming community has to offer.

5. 2025-08-25
   status Active
6. 2025-08-13
   status Pending
7. 2025-08-13
   historical
8. 2025-07-31
   price $129,000
9. 2025-04-01
   listed $138,000 Active
10. 2023-02-24
    soldstatus $110,000 Closed
11. 2023-01-31
    status Pending
12. 2023-01-27
    historical Contingent
13. 2023-01-27
    status Pending
14. 2022-12-21
    listed $113,500 Active
15. 2017-10-16
    soldstatus $57,500
16. 2017-08-04
    listed $60,000

ⓘ 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: $1,077 · $90/mo
• Projected year-2 tax: $1,212 · $101/mo
• Expected delta: +$135/yr (+$11/mo · 12.5%)

ⓘ 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 7/10 Severe
• 🌡 Heat 6/10 Major 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 27 unhealthy d/yr today · 30 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,552
• − Mortgage interest: −$7,002
• − Property taxes: −$1,077
• − Insurance: −$625
• − Repairs & maintenance: −$1,644
• − Management: −$1,644
• − Depreciation: −$3,636
• Taxable income: $4,923
• Est. tax owed @ 24.0%: −$1,181
• After-tax cash flow: $5,486/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: Phoenix-Talent SD 4
• NCES district ID: 4109630
• Math proficiency: 14% ▼ -9.00%
• Reading proficiency: 32% ▼ -8.00%
• Median HH income: $38,625
• Composite: 19.24/100
• National rank: #8809
• State rank: #58 of 58 in OR

Livability — Phoenix

• Score: 83/100
• State rank: #38
• US rank: #884

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Phoenix, OR
• City population: 4,766
• Population (ZIP): 4,766

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 234,433 people
• By 2030: 243,834 · +4.0%
• By 2040: 259,717 · +10.8%
• By 2050: 273,269 · +16.6%
• By 2075: 300,624 · +28.2%
• By 2100: 305,256 · +30.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 13% Two or more races 6%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Italian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 90% English-only · Spanish 8% Russian/Polish/Slavic 1%

Political lean MEDSL · Jackson

• 2024 margin: Lean R (+6.4) · D 45.5% · R 51.9% · Other 2.6%
• 2008→2024 swing: -6.5pp toward R · 2008: 0.1pp · 2024: -6.4pp
• All cycles: 2024: R+6.4 2020: R+3.5 2016: R+9.2 2012: R+5.0 2008: D+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -94.62%
• Current HPI: 262.1708
• Rent YoY: —
• Metro: —
• 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

+108.3% since first listed

16 events — show timeline

• 2026-05-03 Pending — MLSCO
• 2026-03-31 Relisted — MLSCO
• 2026-03-25 Pending — MLSCO
• 2026-02-27 Listed $125,000 MLSCO
• 2025-08-25 Relisted — MLSCO
• 2025-08-13 Pending — MLSCO
• 2025-08-13 Listing Removed — MLSCO
• 2025-07-31 Price Changed $129,000 MLSCO
• 2025-04-01 Listed $138,000 MLSCO
• 2023-02-24 Sold (MLS) $110,000 MLSCO
• 2023-01-31 Pending — MLSCO
• 2023-01-27 Contingent — MLSCO
• 2023-01-27 Pending — MLSCO
• 2022-12-21 Listed $113,500 MLSCO
• 2017-10-16 Sold (MLS) $57,500 MLSCO
• 2017-08-04 Listed $60,000 MLSCO

Property tax history

+47.3%/yr

Latest (2022): $1,077 · +81.1% YoY. Source: county tax records.