18485 SW Pacific Dr Unit 89

Tualatin, OR 97062

$100,000C+

3 bd · 2.0 ba · 1,296 sqft · Built 1989 · Manufactured · Active · 33 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,125/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$104
• HOA: −$0
• Vac / Maint / Mgmt: −$446
• Net cashflow: $1,050/mo
• Annual: $12,605/yr
• Cap rate: 18.90%
• Cash-on-cash: 45.02%
• DSCR: 3.00
• 1% rule: 2.13%
• Cash to close: $28,000

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $100k.
• 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 $100k).
• It's been on market 33 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 86/100 on livability (#16 in OR, #355 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living F.
• Sherwood SD 88J (suburban): math 56% / reading 66% proficiency, ranked #5 of 58 in OR (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: Rents falling (-3.0%/yr); 144 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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.
• 3 sale attempts since 6y 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 $57k; list at $100k implies a 75% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 18.9% vs local median 2.6% in Tualatin — 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 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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?
• 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.