735 Garden Ct · Molalla, OR 97038

$400,000

3 bd · 2.5 ba · 1,680 sqft · SingleFamily public records · 13 Days on market

Built 2015 $238/sqft · 13% below area Est $459k · 13% under $4/mo HOA

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Why this score? — see what drove the D 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).

• ARV discount +13.3/15.0
• Cash flow +10.5/30.0
• Livability +4.0/5.0
• DSCR +3.0/10.0
• Schools +2.8/10.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Smaller town living with big community spirit. Molalla is a great place to live. Minutes away from great food, entertainment, schools and more. Come enjoy the front patio sunsets, the backyard bbq's and entertain with your updated kitchen and dining. Large rooms for bunking more than one or space to work and play. Come see it before its gone.

Key facts

• Tall ceilings
• Abundant cabinetry
• Updated powder room

Tags

• STAINLESS STEEL APPLIANCES
• ABUNDANT CABINETRY
• DURABLE VINYL FLOORING
• UPDATED POWDER ROOM
• TALL CEILINGS
• LARGE WALK IN CLOSET

Property features AI

Finance

• Other: Property located at 735 Garden Ct, Molalla, OR 97038; Directions: North on Cole Ave → East on Garden Court → End at 735 Garden Court
• HOA & community: HOA present: Ruth's Gardens; Community commons amenities; Annual HOA fee of $50

Exterior

• Parking: Driveway and off-street parking; Attached 1-car garage
• Security: Security lights
• Utilities: Public water; Public sewer; Electric power (implied); Gas service
• Home design: Attached residential property; Resale home; Main and upper levels (living area split noted); No significant view listed
• Construction: Built in 2015; Composition roof; Slab foundation
• Exterior features: Covered patio; Fenced yard; Porch; Tool shed; Level lot; Paved road access; Cement siding

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Free-standing range; Free-standing refrigerator; Pantry; Stainless steel appliances; Vinyl flooring; Sink
• Bedrooms: Primary bedroom (upper) with ensuite bathroom, walk-in shower, double sinks and walk-in closet; Second bedroom (upper) with double closet; Third bedroom (upper) with closet
• Flooring: Vinyl flooring; Wall-to-wall carpet; Tile (listed with appliances)
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Forced air heating; Central air conditioning; Gas fuel
• Interior features: Garage door opener; High ceilings; Laundry area; Wainscoting; Wall-to-wall carpet; Vinyl flooring; Double-pane windows with vinyl frames; Crawl space basement; Accessibility: garage on main level; Security lights
• Laundry & utility: Main-level laundry with sink and vinyl floor; Gas hot water

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $400k.

Deal economics

• At list price, monthly cash flow is $-205 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $364k (9.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $301k (24.8% below list).
• Recommended offer: $301k (24.8% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 2.7% in Molalla — 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 79/100 on livability (#62 in OR, #2,293 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: cost of living C-, amenities F.
• Molalla River SD 35 (town): math 21% / reading 43% proficiency, ranked #32 of 58 in OR (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Molalla River Academy (math 34% / reading 54%, grade F, #143 of 412 statewide, top 38%, 202 students, 18% FRL, charter); Molalla River Middle School (math 15% / reading 41%, grade F, #95 of 128 statewide, top 74%, 532 students, 33% FRL); Molalla High School (math 27% / reading 52%, grade F, #78 of 143 statewide, top 58%, 763 students, 32% FRL).
• Market conditions: 109 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 946 units permitted in Clackamas County in 2024 (188 in 5+ unit buildings).
• This rent runs 40% of the median local income ($90k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Clackamas County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 10y 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 — expect insurance premiums to compound above CPI over the hold.

Recommended offer $300,668 (24.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.75% ✗
• Cap rate: 5.68%
• Cash-on-cash: -2.19%
• DSCR: 0.90
• GRM: 11.1

CMA / ARV

• ARV (median comp): $458,657
• List price: $400,000
• Delta: -9.52%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
654 Patrol St	0.12mi	3/2.0	1,735 (+3%)	11mo	$490,000	$282	78
201 Shirley St	0.39mi	3/2.0	1,704 (+1%)	11mo	$525,000	$308	68
208 E 3rd St	0.49mi	3/2.0	1,684 (+0%)	10mo	$430,000	$255	66
820 E 3rd St	0.28mi	3/2.0	1,512 (-10%)	5mo	$495,000	$327	64
128 Finneys Ave	0.15mi	4/3.0 (+1)	1,905 (+13%)	1mo	$525,000	$276	63
514 Hood Ct	0.52mi	3/2.0	1,744 (+4%)	9mo	$489,900	$281	60
301 S Cole Ave	0.30mi	2/2.0 (-1)	1,500 (-11%)	9mo	$499,500	$333	54
2 Berwick Ct	0.72mi	3/2.0	1,691 (+1%)	14mo	$478,000	$283	52
813 Alyssa Ct	0.64mi	3/2.0	1,513 (-10%)	2mo	$495,000	$327	50
816 Alyssa Ct	0.61mi	3/2.0	1,582 (-6%)	13mo	$489,995	$310	49
544 N Molalla Ave	0.62mi	3/2.0	1,910 (+14%)	9mo	$475,000	$249	39
331 Chinook St	0.37mi	4/3.0 (+1)	1,925 (+15%)	16mo	$540,000	$281	38

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: -20.0%
• Equity multiple: 0.30×
• Total profit: $-77,932
• Equity at exit: $59,641

10-year hold

• IRR: -13.0%
• Equity multiple: 0.24×
• Total profit: $-84,937
• Equity at exit: $34,585

Cash invested: $112,000 (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 97038

• Active inventory: 109
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $3,007 medium
• Mortgage (P&I): −$2,098
• Tax from tax record: −$312 /mo · $3,742/yr
• Insurance: −$167
• HOA: −$4
• Vacancy / Maint / Mgmt: −$631
• Net cashflow: $-205

Break-even live

Break-even rent $3,266

Max offer price $363,813

Occupancy floor —

Sensitivity live

Price	-10% $22	-5% $-92	+0% $-205	+5% $-318	+10% $-431
Rent	-10% $-442	-5% $-324	+0% $-205	+5% $-86	+10% $33
Rate	-1.0pp $-3	-0.5pp $-103	base $-205	+0.5pp $-308	+1.0pp $-414

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: $100,000
• Closing costs: $12,000
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
250 N Cole Ave Molalla, OR	3.0	2.0	2163	$3,500	$1.62	0d	1	0.15mi
201 S Leroy Ave Molalla, OR	1.0–3.0	1.0–2.0	966	$2,242	$2.32	0d	11	1.05mi
872 W Main St Molalla, OR	3.0	1.0–2.0	876	$2,040	$2.33	0d	19	1.30mi

HOA detail

• Monthly dues: $4 · $48/yr

Listing history 25 events

1. 2026-06-21
   days on market $400,000 Active 13 DOM
2. 2026-06-18
   days on market $400,000 Active 10 DOM
3. 2026-06-17
   days on market $400,000 Active 9 DOM
4. 2026-06-16
   days on market $400,000 Active 8 DOM
5. 2026-06-13
   days on market $400,000 Active 5 DOM
6. 2026-06-08
   remarks 686-char remark
7. 2026-06-08
   pricedays on marketlisting id $400,000 Active 1 DOM
8. 2026-03-20
   price $419,900 508-char remark
9. 2026-03-13
   price $429,900 508-char remark
10. 2026-03-05
    listed $439,900 Active 508-char remark
11. 2022-08-22
    soldstatus $395,000 Closed 344-char remark

    Show marketing remark (344 chars)

    Smaller town living with big community spirit. Molalla is a great place to live. Minutes away from great food, entertainment, schools and more. Come enjoy the front patio sunsets, the backyard bbq's and entertain with your updated kitchen and dining. Large rooms for bunking more than one or space to work and play. Come see it before its gone.

12. 2022-08-22
    soldstatus $395,000

    Show marketing remark (344 chars)

    Smaller town living with big community spirit. Molalla is a great place to live. Minutes away from great food, entertainment, schools and more. Come enjoy the front patio sunsets, the backyard bbq's and entertain with your updated kitchen and dining. Large rooms for bunking more than one or space to work and play. Come see it before its gone.

13. 2022-07-30
    status Pending 344-char remark

    Show marketing remark (344 chars)

    Smaller town living with big community spirit. Molalla is a great place to live. Minutes away from great food, entertainment, schools and more. Come enjoy the front patio sunsets, the backyard bbq's and entertain with your updated kitchen and dining. Large rooms for bunking more than one or space to work and play. Come see it before its gone.

14. 2022-07-19
    status Pending 344-char remark

    Show marketing remark (344 chars)

    Smaller town living with big community spirit. Molalla is a great place to live. Minutes away from great food, entertainment, schools and more. Come enjoy the front patio sunsets, the backyard bbq's and entertain with your updated kitchen and dining. Large rooms for bunking more than one or space to work and play. Come see it before its gone.

15. 2022-07-07
    listed $395,000 Active 344-char remark

    Show marketing remark (344 chars)

    Smaller town living with big community spirit. Molalla is a great place to live. Minutes away from great food, entertainment, schools and more. Come enjoy the front patio sunsets, the backyard bbq's and entertain with your updated kitchen and dining. Large rooms for bunking more than one or space to work and play. Come see it before its gone.

16. 2019-11-21
    soldstatus $299,000 Sold

    Show marketing remark (425 chars)

    This newer custom built townhome in the Ruth's Garden neighborhood sits in a quiet cul-de-sac with an open concept in mind. The kitchen and main living area are a perfect place to entertain and relax featuring SS appliances, modern rustic engineered laminate floors, and tile countertops. Upstairs boasts a large master suite, walk-in closet and amazing Mt. Hood views making this townhome the best value in this price range.

17. 2019-11-21
    soldstatus $299,000

    Show marketing remark (425 chars)

    This newer custom built townhome in the Ruth's Garden neighborhood sits in a quiet cul-de-sac with an open concept in mind. The kitchen and main living area are a perfect place to entertain and relax featuring SS appliances, modern rustic engineered laminate floors, and tile countertops. Upstairs boasts a large master suite, walk-in closet and amazing Mt. Hood views making this townhome the best value in this price range.

18. 2019-10-17
    status Pending

    Show marketing remark (425 chars)

    This newer custom built townhome in the Ruth's Garden neighborhood sits in a quiet cul-de-sac with an open concept in mind. The kitchen and main living area are a perfect place to entertain and relax featuring SS appliances, modern rustic engineered laminate floors, and tile countertops. Upstairs boasts a large master suite, walk-in closet and amazing Mt. Hood views making this townhome the best value in this price range.

19. 2019-10-10
    price $298,900

    Show marketing remark (425 chars)

    This newer custom built townhome in the Ruth's Garden neighborhood sits in a quiet cul-de-sac with an open concept in mind. The kitchen and main living area are a perfect place to entertain and relax featuring SS appliances, modern rustic engineered laminate floors, and tile countertops. Upstairs boasts a large master suite, walk-in closet and amazing Mt. Hood views making this townhome the best value in this price range.

20. 2019-09-18
    price $304,900

    Show marketing remark (425 chars)

    This newer custom built townhome in the Ruth's Garden neighborhood sits in a quiet cul-de-sac with an open concept in mind. The kitchen and main living area are a perfect place to entertain and relax featuring SS appliances, modern rustic engineered laminate floors, and tile countertops. Upstairs boasts a large master suite, walk-in closet and amazing Mt. Hood views making this townhome the best value in this price range.

21. 2019-08-28
    listed $305,000 Active

    Show marketing remark (425 chars)

    This newer custom built townhome in the Ruth's Garden neighborhood sits in a quiet cul-de-sac with an open concept in mind. The kitchen and main living area are a perfect place to entertain and relax featuring SS appliances, modern rustic engineered laminate floors, and tile countertops. Upstairs boasts a large master suite, walk-in closet and amazing Mt. Hood views making this townhome the best value in this price range.

22. 2016-05-16
    soldstatus $214,900 Sold
23. 2016-02-22
    status Pending
24. 2016-02-22
    listed $214,900 Active
25. 2012-11-05
    soldstatus $118,951

ⓘ 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: $3,742 · $312/mo
• Projected year-2 tax: $3,880 · $323/mo
• Expected delta: +$138/yr (+$12/mo · 3.7%)

ⓘ 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 6/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥90°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 13 unhealthy d/yr today · 15 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,080
• − Mortgage interest: −$22,406
• − Property taxes: −$3,742
• − Insurance: −$2,000
• − Repairs & maintenance: −$2,886
• − Management: −$2,886
• − HOA: −$48
• − Depreciation: −$11,636
• Taxable loss: −$9,525
• Est. tax savings @ 24.0%: +$2,286
• After-tax cash flow: $-172/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: Molalla River SD 35
• NCES district ID: 4108310
• Math proficiency: 21% ▼ -13.00%
• Reading proficiency: 43% ▼ -7.00%
• Median HH income: $57,194
• Composite: 28.46/100
• National rank: #6748
• State rank: #32 of 58 in OR

Livability — Molalla

• Score: 79/100
• State rank: #62
• US rank: #2293

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Molalla, OR
• County: Clackamas County · 361,406 people
• City population: 16,440
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 16,440
• Household income: $89,564
• Rent vs Own: 35.2% rent · 64.8% own
• Severe rent burden: 439.0

Population outlook (Clackamas County) Hauer SSP2

• Today (2025): 458,456 people
• By 2030: 485,185 · +5.8%
• By 2040: 532,932 · +16.2%
• By 2050: 574,445 · +25.3%
• By 2075: 665,497 · +45.2%
• By 2100: 697,488 · +52.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 11% Two or more races 4%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Slovak 4% Portuguese 4% Italian 3%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 6% Russian/Polish/Slavic 1% German/W. Germanic 1%

Political lean MEDSL · Clackamas

• 2024 margin: Lean D (+9.7) · D 53.4% · R 43.6% · Other 3.0%
• 2008→2024 swing: -0.6pp no change · 2008: 10.4pp · 2024: 9.7pp
• All cycles: 2024: D+9.7 2020: D+11.1 2016: D+6.1 2012: D+3.5 2008: D+10.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -185.07%
• Current HPI: 287.6491
• Rent YoY: —
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• 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

+236.3% since first listed

16 events — show timeline

• 2026-06-08 Listed $400,000 RMLS
• 2022-08-22 Sold (Public Records) $395,000 Public Records
• 2022-08-22 Sold (MLS) $395,000 RMLS
• 2022-07-30 Pending — RMLS
• 2022-07-19 Pending — RMLS
• 2022-07-07 Listed $395,000 RMLS
• 2019-11-21 Sold (Public Records) $299,000 Public Records
• 2019-11-21 Sold (MLS) $299,000 RMLS
• 2019-10-17 Pending — RMLS
• 2019-10-10 Price Changed $298,900 RMLS
• 2019-09-18 Price Changed $304,900 RMLS
• 2019-08-28 Listed $305,000 RMLS
• 2016-05-16 Sold (MLS) $214,900 RMLS
• 2016-02-22 Pending — RMLS
• 2016-02-22 Listed $214,900 RMLS
• 2012-11-05 Sold (Public Records) $118,951 Public Records

Property tax history

+12.9%/yr

Latest (2025): $3,742 · +3.5% YoY. Source: county tax records.