904 York St #90

Aumsville, OR 97325

$109,900B-

3 bd · 2.0 ba · 1,080 sqft · Built 1996 · Manufactured · Active · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,646/mo
• Mortgage (P&I): −$576
• Tax + insurance: −$100
• HOA: −$0
• Vac / Maint / Mgmt: −$346
• Net cashflow: $624/mo
• Annual: $7,488/yr
• Cap rate: 13.11%
• Cash-on-cash: 24.33%
• DSCR: 2.08
• 1% rule: 1.50%
• Cash to close: $30,772

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $110k.
• At list price, monthly cash flow is $624 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $760 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#188 in OR) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living B+; Watch: health & safety D+, amenities F, commute F.
• Cascade SD 5 (rural): math 41% / reading 61% proficiency, ranked #26 of 183 in OR (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Aumsville Elementary School (math 22% / reading 32%, grade F, #301 of 412 statewide, top 74%, 600 students, 67% FRL); Cascade Senior High School (764 students, 32% FRL).
• Zoned-school proficiency averages 27% at this address vs 51% district-wide (-24 pts) — the specific schools serving this property underperform the Cascade SD 5 average; the district grade overstates school quality for this exact location.
• Market conditions: 27 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 1,591 units permitted in Marion County in 2024 (716 in 5+ unit buildings).
• Marion County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 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 $31k cash investment doubles in ~5 years — after that, you're playing with house money.
• Cap rate 13.1% vs local median 3.0% in Aumsville — 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

• 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.