151 Edwards Rd S #69 · Monmouth, OR 97361

$110,000

2 bd · 1.0 ba · 784 sqft · Manufactured · 38 Days on market

Built 1977 Good condition $140/sqft · 32% above area Est $83k · 32% over ↓ 4% since listing

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• Condition / age +4.0/5.0
• Livability +3.6/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Professionally remodeled and beautifully decorated home in Monmouth Mobile Estates, an all-ages community! Originally built in 1977, this home has been extensively updated with quality finishes throughout and truly feels better than new. Featuring 2 bedrooms, 1 bathroom, and an open-concept layout with wide hallways, this home is a must-see in person. The fully remodeled kitchen offers custom cabinets, espresso-stained butcher block countertops, matching corner dining tabletop, seating bar, and brand-new stainless steel appliances. Updates throughout include 22-mil Pergo waterproof and scratch-resistant luxury vinyl wide plank flooring, new carpet in the bedrooms, all new black matte hardwa

Key facts

• New heat pump
• Custom cabinets
• Garage

Tags

• PROFESSIONALLY REMODELED
• FULLY REMODELED KITCHEN
• CUSTOM CABINETS
• NEW HEAT PUMP
• REAL WOOD BURNING STOVE
• NEW MEMBRANE ROOF INSTALLATION

Property features AI

Finance

• Other: Unit dimensions: 56 ft length by 14 ft width; Living area listed as 784 (unit measure withheld)
• Financial info: Not provided
• HOA & community: Located in Monmouth Mobile Estates (all-ages manufactured home community) with a courtyard layout and playground; Park lot rent: $825 monthly

Exterior

• Parking: Carport; Driveway; One parking space (one covered carport space)
• Security: No security features listed
• Utilities: Public water; Public sewer; Electric service
• Home design: Manufactured home in a park; Updated/remodeled condition; Model: SHELBY; Manufacturer: COMMODORE; Facing information not provided
• Construction: Built in 1977; Pillar/post/pier foundation; Aluminum exterior description; Membrane roof
• Exterior features: Deck; Patio; Tool shed; Yard; Level lot

Interior

• Kitchen: Island; Range hood; Free-standing range; Free-standing refrigerator; Dishwasher; Stainless steel appliances; ENERGY STAR qualified appliances
• Bedrooms: Primary bedroom (main level); Second bedroom (main level)
• Flooring: Luxury vinyl plank; Wall-to-wall carpet
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Forced air heating; Heat pump (heating and central air cooling)
• Interior features: One-level accessibility; Washer and dryer included; Double-pane vinyl-framed windows; Wood-burning stove fireplace; Luxury vinyl plank and wall-to-wall carpet flooring
• Laundry & utility: Utility room (main level); Electric tank water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $110k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $411 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $107k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.8% vs local median 2.6% in Monmouth — 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 72/100 on livability (#108 in OR) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, housing B+; Watch: health & safety D+, amenities D, employment D.
• Central SD 13J (town): math 26% / reading 41% proficiency, ranked #149 of 183 in OR (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ash Creek Elementary School (473 students, 65% FRL); Talmadge Middle School (740 students, 64% FRL); Central High School (1,100 students, 65% FRL).
• Market conditions: 67 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 177 units permitted in Polk County in 2024 (14 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Polk County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.

Recommended offer $106,700 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.35% ✓
• Cap rate: 10.77%
• Cash-on-cash: 16.01%
• DSCR: 1.71
• GRM: 6.2

CMA / ARV

• ARV (median comp): $83,028
• List price: $110,000
• Delta: 32.49%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
277 Edwards Rd S #140	0.06mi	3/1.0 (+1)	784 (0%)	2mo	$72,000	$92	90
141 S 17th St #70	0.53mi	2/1.0	756 (-4%)	3mo	$116,500	$154	67
543 Clay St E #4	0.73mi	2/1.0	784 (0%)	7mo	$52,500	$67	60

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.0%
• Equity multiple: 1.27×
• Total profit: $8,362
• Equity at exit: $16,401

10-year hold

• IRR: 16.3%
• Equity multiple: 2.33×
• Total profit: $41,063
• Equity at exit: $9,511

Cash invested: $30,800 (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 97361

• Home prices YoY: -34.5%
• Active inventory: 67
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,482 high
• Mortgage (P&I): −$577
• Tax est. 1.5%: −$138 /mo · $1,650/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $411

Break-even live

Break-even rent $962

Max offer price $110,000

Occupancy floor 67%

Sensitivity live

Price	-10% $487	-5% $449	+0% $411	+5% $373	+10% $335
Rent	-10% $294	-5% $352	+0% $411	+5% $469	+10% $528
Rate	-1.0pp $466	-0.5pp $439	base $411	+0.5pp $382	+1.0pp $353

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1630 Monmouth St Independence, OR	2.0	1.5	900	$1,375	$1.53	14d	1	0.34mi
1630 Monmouth St Unit 1630-20 Independence, OR	2.0	1.5	900	$1,375	$1.53	24d	1	0.35mi
314 Monmouth Independence Hwy Monmouth, OR	3.0	1.0	1100	$1,795	$1.63	44d	1	0.35mi
1021 Main St E Unit 1021-1 Monmouth, OR	2.0	1.0	800	$1,450	$1.81	44d	1	0.40mi
1408 Falcon Loop Unit 1408 Independence, OR	3.0	2.0	1056	$1,795	$1.70	14d	1	0.51mi
1400 E St Independence, OR	2.0–3.0	1.0–2.0	962	$1,525	$1.59	14d	2	0.56mi
163 Catron St N Unit 163-02 Monmouth, OR	2.0	1.0	760	$1,395	$1.84	44d	1	0.71mi
501 Catron St N Monmouth, OR	2.0	2.0	1090	$1,450	$1.33	14d	1	0.79mi
205 N Gun Club Rd Unit 123 Independence, OR	2.0	1.0	868	$1,400	$1.61	24d	1	0.81mi
523 Catron St N Unit 523-05 Monmouth, OR	2.0	2.0	1090	$1,450	$1.33	24d	1	0.81mi
523 Catron St N Unit 523-11 Monmouth, OR	2.0	2.0	1090	$1,400	$1.28	44d	1	0.81mi
537 Catron St N Unit 537-05 Monmouth, OR	2.0	2.0	1090	$1,400	$1.28	44d	1	0.83mi
242 Jackson St E Unit B Monmouth, OR	2.0	1.0	877	$1,650	$1.88	14d	1	0.89mi
675 White Oak Cir Independence, OR	2.0	2.0	923	$1,675	$1.81	14d	5	0.93mi
130 Main St W Monmouth, OR	2.0	1.0	750	$1,499	$2.00	14d	1	1.00mi
479 S Monmouth Ave Unit 479-18 Monmouth, OR	2.0	1.5	996	$1,545	$1.55	24d	1	1.02mi
219 S Monmouth Ave Unit 212 Monmouth, OR	2.0	1.0	980	$1,499	$1.53	44d	1	1.04mi
302 S Monmouth Ave Unit 302-A Monmouth, OR	1.0	1.0	600	$1,095	$1.82	44d	1	1.09mi
475 Jackson St W Monmouth, OR	1.0	1.0	700	$1,050	$1.50	44d	1	1.27mi
800 S 4th St Unit 800-08 Independence, OR	2.0	1.0	775	$1,250	$1.61	24d	1	1.31mi
308 Hoxton Ave Unit 2bd/2ba_880sq Monmouth, OR	2.0	2.0	880	$1,720	$1.95	14d	1	1.33mi
304 Hoxton Ave Unit 2bd/2ba_771sq Monmouth, OR	2.0	2.0	771	$1,500	$1.95	14d	1	1.33mi
300 Hoxton Ave Monmouth, OR	2.0–3.0	2.0	960	$1,500	$1.56	14d	9	1.34mi
336 Whitesell St W Unit 336-7 Monmouth, OR	2.0	2.0	800	$1,400	$1.75	24d	1	1.37mi
739 Jackson St W Unit 3 Monmouth, OR	2.0	2.0	850	$1,450	$1.71	44d	1	1.38mi

Listing history 16 events

1. 2026-06-18
   days on market $110,000 Active 38 DOM
2. 2026-06-17
   days on market $110,000 Active 37 DOM
3. 2026-06-16
   days on market $110,000 Active 36 DOM
4. 2026-06-15
   days on market $110,000 Active 35 DOM
5. 2026-06-14
   days on market $110,000 Active 33 DOM
6. 2026-06-10
   days on market $110,000 Active 30 DOM
7. 2026-06-09
   pricedays on market $110,000 Active 29 DOM
8. 2026-06-08
   days on market $113,000 Active 28 DOM
9. 2026-06-07
   days on market $113,000 Active 27 DOM
10. 2026-06-05
    pricedays on market $113,000 Active 24 DOM
11. 2026-06-03
    days on market $115,000 Active 23 DOM
12. 2026-06-02
    days on market $115,000 Active 22 DOM
13. 2026-06-01
    days on market $115,000 Active 21 DOM
14. 2026-05-31
    days on market $115,000 Active 20 DOM
15. 2026-05-30
    days on market $115,000 Active 19 DOM
16. 2026-05-11
    listed $115,000 Active 1691-char remark

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥92°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 11 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,787
• − Mortgage interest: −$6,162
• − Property taxes: −$1,650
• − Insurance: −$550
• − Repairs & maintenance: −$1,423
• − Management: −$1,423
• − Depreciation: −$3,200
• Taxable income: $3,379
• Est. tax owed @ 24.0%: −$811
• After-tax cash flow: $4,119/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.

Condition & rehab AI · 15 photos

Good 80/100 Cosmetic rehab

This professionally remodeled and beautifully decorated home in Monmouth Mobile Estates is in excellent condition with minimal repairs needed. It offers a good investment opportunity for both resale and rental.

Value-add opportunities

• Both Painting the exterior — Enhances curb appeal and can increase both resale and rental value
• Both Landscaping the front yard — Improves curb appeal and can increase both resale and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior — Enhances curb appeal and can increase both resale and rental value ↑
• Both Landscaping the front yard — Improves curb appeal and can increase both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Central SD 13J
• NCES district ID: 4102840
• Math proficiency: 26% ▼ -3.00%
• Reading proficiency: 41% ▼ -2.00%
• Median HH income: $42,374
• Composite: 31.04/100
• National rank: #11310
• State rank: #149 of 183 in OR

Livability — Monmouth

• Score: 72/100
• State rank: #108
• US rank: #5992

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Monmouth, OR
• County: Polk County · 84,240 people
• City population: 14,488
• Metro: Salem, OR
• Population (ZIP): 14,488
• Household income: $69,505
• Rent vs Own: 43.4% rent · 56.6% own
• Severe rent burden: 412.0

Population outlook (Polk County) Hauer SSP2

• Today (2025): 88,594 people
• By 2030: 93,209 · +5.2%
• By 2040: 101,942 · +15.1%
• By 2050: 110,395 · +24.6%
• By 2075: 131,091 · +48.0%
• By 2100: 141,746 · +60.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 16% Two or more races 12% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Slovak 4% Italian 3% Portuguese 3%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 87% English-only · Spanish 10% Other Asian/Pacific 1% Korean 1%

Political lean MEDSL · Polk

• 2024 margin: Toss-up / Even · D 46.6% · R 50.4% · Other 3.0%
• 2008→2024 swing: -3.3pp toward R · 2008: -0.5pp · 2024: -3.8pp
• All cycles: 2024: R+3.8 2020: R+1.7 2016: R+7.0 2012: R+4.8 2008: R+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -162.97%
• Current HPI: 309.076
• Rent YoY: —
• Metro: Salem, OR
• 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

-4.3% since first listed

3 events — show timeline

• 2026-06-09 Price Changed $110,000 RMLS
• 2026-06-04 Price Changed $113,000 RMLS
• 2026-05-11 Listed $115,000 RMLS