1156 SW Westvale St #197 · McMinnville, OR 97128-2751

$171,500

2 bd · 2.5 ba · 1,620 sqft · Manufactured public records · 169 Days on market

Built 1995 Est $172k · at est. ↓ 6% since listing

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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
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• ARV discount +7.6/15.0
• Appreciation +5.0/10.0
• Schools +4.8/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Single-level home in Kathleen Manor with open floor plan and vaulted ceilings. Bright interior features spacious kitchen with ample cabinets and counter space. Includes den or home office, primary suite with dual vanity, soaking tub, and separate shower. Covered front porch, fenced yard, and rear patio with retractable awning. Carport parking. Roof approx. 10 yrs old per insurance advisor. Refrigerator, washer, and dryer included. Park approval required.

Key facts

• Open floor plan
• Den or home office
• Dual vanity

Tags

• OPEN FLOOR PLAN
• SPACIOUS KITCHEN
• DEN OR HOME OFFICE
• PRIMARY SUITE
• DUAL VANITY
• SOAKING TUB

Property features AI

Finance

• Other: Possession at closing
• HOA & community: Located in Kathleen Manor (park approval required); Not an adult park

Exterior

• Parking: Carport; 2 garage spaces
• Utilities: City water; City sewer; Electric water heater; Electric power
• Home design: Double-wide manufactured home; Single-level living; Built in 1995; Tan exterior with lap fiber cement siding; Approximate 10-year-old roof (per insurance advisor)
• Construction: Fiber cement siding (lap style); Composition roof; Manufactured home (Marlette), serial H011528AB
• Exterior features: Fenced yard; Rear patio with retractable awning; Covered front porch; Flag lot

Interior

• Kitchen: Spacious kitchen with ample cabinets and counter space; Built-in electric range; Dishwasher; Refrigerator included
• Bedrooms: Primary bedroom on main level (16 x 12); Second bedroom on main level (10 x 12)
• Flooring: Carpet; Vinyl
• Bathrooms: Two bathrooms on main level; Primary bathroom with dual vanity, soaking tub, and separate shower
• Heating & cooling: Electric forced air heating
• Interior features: Carpet and vinyl flooring; Disposal; Vaulted ceilings; Open floor plan
• Laundry & utility: Utility room on main level (9 x 9); Washer and dryer included; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath manufactured listed at $172k.

Deal economics

• At list price, monthly cash flow is $736 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $172k).
• Recommended offer: $151k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.4% vs local median 3.2% in McMinnville — 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 76/100 on livability (#79 in OR, #3,556 nationally) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing A, crime B; Watch: commute D+.
• Mcminnville SD 40 (town): math 50% / reading 58% proficiency, ranked #20 of 183 in OR (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Columbus Elementary School (445 students, 71% FRL); Duniway Middle School (806 students, 66% FRL); Mcminnville High School (2,319 students, 38% FRL).
• Market conditions: 1 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 282 units permitted in Yamhill County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (3.0% local appreciation)).
• Yamhill County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 169 days — a 12% lower offer ($151k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $12k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $150,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 169 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.34% ✓
• Cap rate: 11.44%
• Cash-on-cash: 18.39%
• DSCR: 1.82
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $171,720
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1156 SW Westvale St #197	0.00mi	2/2.0	1,620 (0%)	0mo	$168,800	$104	98
1156 SW Westvale St	0.00mi	2/2.0	1,620 (0%)	0mo	$168,800	$104	98
1154 SW Emma Dr	0.04mi	3/2.0 (+1)	1,560 (-4%)	8mo	$173,000	$111	78
1230 SW Emma Dr	0.07mi	3/2.0 (+1)	1,512 (-7%)	1mo	$172,800	$114	78
1168 SW Emma Dr	0.04mi	3/2.0 (+1)	1,512 (-7%)	10mo	$140,000	$93	72
1177 SW Emma Dr	0.03mi	3/2.0 (+1)	1,512 (-7%)	13mo	$170,000	$112	70
1926 SW Emma Dr	0.02mi	3/2.0 (+1)	1,836 (+13%)	1mo	$207,935	$113	69
1145 SW Cypress St #63	0.26mi	3/2.0 (+1)	1,556 (-4%)	9mo	$165,000	$106	67
1679 SW Richard Ct	0.38mi	3/2.0 (+1)	1,512 (-7%)	3mo	$160,000	$106	62
1145 SW Cypress St #12	0.26mi	3/2.0 (+1)	1,774 (+10%)	4mo	$162,500	$92	62

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: 24.8%
• Equity multiple: 2.41×
• Total profit: $67,502
• Equity at exit: $77,114

10-year hold

• IRR: 25.5%
• Equity multiple: 4.64×
• Total profit: $174,592
• Equity at exit: $118,842

Cash invested: $48,020 (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 97128-2751

• Active inventory: 1
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $2,295 high
• Mortgage (P&I): −$899
• Tax from tax record: −$107 /mo · $1,279/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$482
• Net cashflow: $736

Break-even live

Break-even rent $1,364

Max offer price $171,500

Occupancy floor 63%

Sensitivity live

Price	-10% $833	-5% $785	+0% $736	+5% $687	+10% $639
Rent	-10% $555	-5% $645	+0% $736	+5% $827	+10% $917
Rate	-1.0pp $822	-0.5pp $780	base $736	+0.5pp $692	+1.0pp $646

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: $42,875
• Closing costs: $5,145
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
982 SW Hawthorne St McMinnville, OR	3.0	2.0	1458	$2,375	$1.63	24d	1	0.08mi
417 SW Pemberly Loop McMinnville, OR	3.0	2.5	1700	$2,200	$1.29	45d	1	0.44mi
939 SW Fellows Ct McMinnville, OR	3.0	2.0	1729	$2,375	$1.37	45d	1	0.56mi
1795 NW 2nd St McMinnville, OR	2.0–4.0	1.0	1250	$1,425	$1.14	0d	2	0.63mi
467 NW Meadows Dr McMinnville, OR	3.0	2.0	1278	$2,100	$1.64	45d	1	0.66mi
1302 SW Wright St McMinnville, OR	3.0	2.5	1763	$2,400	$1.36	45d	1	0.70mi
136 SW Sharon Jane Pl McMinnville, OR	3.0	2.0	1477	$2,150	$1.46	24d	1	0.70mi
140 SW Daniels St McMinnville, OR	3.0	1.0	1524	$1,995	$1.31	26d	1	0.93mi
1149 SW Brockwood Ave McMinnville, OR	3.0	2.0	1432	$3,600	$2.51	26d	1	0.95mi
624 SW Drumwood Ave McMinnville, OR	1.0–3.0	1.0–1.5	878	$1,898	$2.16	0d	4	1.09mi
1701 NW Wallace Rd Unit 1550269P McMinnville, OR	2.0	2.0	1560	$5,834	$3.74	0d	1	1.13mi

Listing history 9 events

1. 2026-05-18
   status Pending
2. 2026-05-02
   price $171,500
3. 2026-04-27
   historical Active Bumpable
4. 2026-02-23
   status Active
5. 2026-02-13
   status Pending
6. 2026-01-15
   price $175,000
7. 2025-11-21
   status Active
8. 2025-11-16
   historical
9. 2025-11-14
   listed $183,000 Active

ⓘ 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: $1,279 · $107/mo
• Projected year-2 tax: $1,664 · $139/mo
• Expected delta: +$385/yr (+$32/mo · 30.1%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 10 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,544
• − Mortgage interest: −$9,607
• − Property taxes: −$1,279
• − Insurance: −$858
• − Repairs & maintenance: −$2,204
• − Management: −$2,204
• − Depreciation: −$4,989
• Taxable income: $6,405
• Est. tax owed @ 24.0%: −$1,537
• After-tax cash flow: $7,294/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: Mcminnville SD 40
• NCES district ID: 4108010
• Math proficiency: 50% ▼ -1.00%
• Reading proficiency: 58% ▼ -1.00%
• Median HH income: $47,382
• Composite: 47.69/100
• National rank: #4919
• State rank: #20 of 183 in OR

Livability — McMinnville

• Score: 76/100
• State rank: #79
• US rank: #3556

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: McMinnville, OR

Population outlook (Yamhill County) Hauer SSP2

• Today (2025): 109,295 people
• By 2030: 112,060 · +2.5%
• By 2040: 115,975 · +6.1%
• By 2050: 118,155 · +8.1%
• By 2075: 120,968 · +10.7%
• By 2100: 116,163 · +6.3%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

-6.3% since first listed

9 events — show timeline

• 2026-05-18 Pending — WVMLS
• 2026-05-02 Price Changed $171,500 WVMLS
• 2026-04-27 Contingent — WVMLS
• 2026-02-23 Relisted — WVMLS
• 2026-02-13 Pending — WVMLS
• 2026-01-15 Price Changed $175,000 WVMLS
• 2025-11-21 Relisted — WVMLS
• 2025-11-16 Listing Removed — WVMLS
• 2025-11-14 Listed $183,000 WVMLS

Property tax history

+2.6%/yr

Latest (2025): $1,279 · +5.5% YoY. Source: county tax records.