215 E 2nd Ave · Riddle, OR 97469

$152,000

1 bd · 1.0 ba · 564 sqft · SingleFamily public records · 52 Days on market

Built 1935 2,613 sqft lot Est $147k · at est.

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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).

• Cash flow +14.8/30.0
• Appreciation +10.0/10.0
• ARV discount +6.0/15.0
• DSCR +4.5/10.0
• Livability +3.4/5.0
• 1% rule +2.9/10.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This is your opportunity to own two homes on one property!! Investors delight for rental cashflow or extended family home seekers! Centrally located in the heart of small-town Riddle just minutes from I5 and close to 7 Feathers Casino. Walking distance to elementary school, high school, post office, convenience store, bakery, etc. Each home is a 1 bedroom, 1 bathroom home- with individual power and water meters. Property is being sold as is. Neighborhood improvements (in construction) include a Riddle Activity Center: A comprehensive recreation and resiliency center in Southern Douglas County where community members will gather to improve their health, be active, have fun, and access essential services. Key program goals include Athletic courts, fitness center, indoor walking track, outdoor event spaces, concessions stand, emergency & disaster response, community and cultural enrichment, meeting & event rooms, community kitchen, dining hall, community theatre & music programs, community cafe, STEM events & programming, athletic tournaments, sporting events, childcare, pre-school, afterschool and summer programs, medical, dental and mental health care and more! Enjoy small town living at its finest while close to all the local amenities such a newer Grocery Outlet, Starbucks, Tractor Supply and new EV Charging station. Take advantage this rare dual-home opportunity—schedule your showing today!

Key facts

• Centrally located
• Newer grocery outlet
• 2,613 sq ft lot

Tags

• TWO HOMES ON ONE PROPERTY
• CENTRALLY LOCATED
• WALKING DISTANCE TO BAKERY
• NEWER GROCERY OUTLET
• NEW EV CHARGING STATION

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $152k.

Deal economics

• At list price, monthly cash flow is $41 ($490/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $120k (21.1% below list).
• Recommended offer: $120k (21.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 68/100 on livability (#163 in OR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, amenities F, commute F.
• Riddle SD 70 (town): math 25% / reading 37% proficiency, ranked #154 of 183 in OR (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 36 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 190 units permitted in Douglas County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Douglas County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $43k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($147k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $45k; list at $152k implies a 238% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 8→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $120,000 (21.1% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
2. Built in 1935 — 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. Schools are F-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: 0.79% ✗
• Cap rate: 6.62%
• Cash-on-cash: 1.15%
• DSCR: 1.05
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $147,204
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
136 Park St	0.22mi	1/1.0	644 (+14%)	23mo	$168,000	$261	47

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.1%
• Equity multiple: 3.00×
• Total profit: $85,317
• Equity at exit: $136,934

10-year hold

• IRR: 22.1%
• Equity multiple: 6.85×
• Total profit: $249,057
• Equity at exit: $295,303

Cash invested: $42,560 (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 97469

• Home prices YoY: 4.7%
• Active inventory: 36
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,200 medium
• Mortgage (P&I): −$797
• Tax from tax record: −$47 /mo · $560/yr
• Insurance: −$63
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $41

Break-even live

Break-even rent $1,148

Max offer price $152,000

Occupancy floor 92%

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: $38,000
• Closing costs: $4,560
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
625 E 5th Ave Unit LANM629 Riddle, OR	2.0	1.0	640	$1,200	$1.88	44d	1	0.20mi

Listing history 13 events

1. 2026-06-12
   statusdays on market $152,000 Pending 52 DOM
2. 2026-06-09
   days on market $152,000 Active 49 DOM
3. 2026-06-08
   days on market $152,000 Active 48 DOM
4. 2026-06-08
   days on market $152,000 Active 47 DOM
5. 2026-06-07
   days on market $152,000 Active 46 DOM
6. 2026-06-04
   days on market $152,000 Active 43 DOM
7. 2026-06-02
   days on market $152,000 Active 42 DOM
8. 2026-06-01
   price $152,000 Active 41 DOM
9. 2026-06-01
   days on market $190,000 Active 41 DOM
10. 2026-05-31
    days on market $190,000 Active 40 DOM
11. 2026-05-08
    price $190,000 1437-char remark

    Show marketing remark (1437 chars)

    This is your opportunity to own two homes on one property!! Investors delight for rental cashflow or extended family home seekers! Centrally located in the heart of small-town Riddle just minutes from I5 and close to 7 Feathers Casino. Walking distance to elementary school, high school, post office, convenience store, bakery, etc. Each home is a 1 bedroom, 1 bathroom home- with individual power and water meters. Property is being sold as is. Neighborhood improvements (in construction) include a Riddle Activity Center: A comprehensive recreation and resiliency center in Southern Douglas County where community members will gather to improve their health, be active, have fun, and access essential services. Key program goals include Athletic courts, fitness center, indoor walking track, outdoor event spaces, concessions stand, emergency & disaster response, community and cultural enrichment, meeting & event rooms, community kitchen, dining hall, community theatre & music programs, community cafe, STEM events & programming, athletic tournaments, sporting events, childcare, pre-school, afterschool and summer programs, medical, dental and mental health care and more! Enjoy small town living at its finest while close to all the local amenities such a newer Grocery Outlet, Starbucks, Tractor Supply and new EV Charging station. Take advantage this rare dual-home opportunity—schedule your showing today!

12. 2026-04-14
    listed $215,000 Active 1437-char remark

    Show marketing remark (1437 chars)

    This is your opportunity to own two homes on one property!! Investors delight for rental cashflow or extended family home seekers! Centrally located in the heart of small-town Riddle just minutes from I5 and close to 7 Feathers Casino. Walking distance to elementary school, high school, post office, convenience store, bakery, etc. Each home is a 1 bedroom, 1 bathroom home- with individual power and water meters. Property is being sold as is. Neighborhood improvements (in construction) include a Riddle Activity Center: A comprehensive recreation and resiliency center in Southern Douglas County where community members will gather to improve their health, be active, have fun, and access essential services. Key program goals include Athletic courts, fitness center, indoor walking track, outdoor event spaces, concessions stand, emergency & disaster response, community and cultural enrichment, meeting & event rooms, community kitchen, dining hall, community theatre & music programs, community cafe, STEM events & programming, athletic tournaments, sporting events, childcare, pre-school, afterschool and summer programs, medical, dental and mental health care and more! Enjoy small town living at its finest while close to all the local amenities such a newer Grocery Outlet, Starbucks, Tractor Supply and new EV Charging station. Take advantage this rare dual-home opportunity—schedule your showing today!

13. 2010-01-11
    soldstatus $45,000

ⓘ 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: $560 · $47/mo
• Projected year-2 tax: $1,474 · $123/mo
• Expected delta: +$914/yr (+$76/mo · 163.2%)

ⓘ 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 7/10 Severe
• 🌡 Heat 5/10 Major 8 d/yr ≥95°F today · 16 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: $14,400
• − Mortgage interest: −$8,514
• − Property taxes: −$560
• − Insurance: −$760
• − Repairs & maintenance: −$1,152
• − Management: −$1,152
• − Depreciation: −$4,422
• Taxable loss: −$2,160
• Est. tax savings @ 24.0%: +$519
• After-tax cash flow: $1,009/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: Riddle SD 70
• NCES district ID: 4110530
• Math proficiency: 25% ▼ -6.00%
• Reading proficiency: 37% ▼ -8.00%
• Median HH income: $43,900
• Composite: 29.22/100
• National rank: #11857
• State rank: #154 of 183 in OR

Livability — Riddle

• Score: 68/100
• State rank: #163
• US rank: #9520

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Riddle, OR
• Population (ZIP): 2,541

Population outlook (Douglas County) Hauer SSP2

• Today (2025): 105,191 people
• By 2030: 102,664 · -2.4%
• By 2040: 96,668 · -8.1%
• By 2050: 91,279 · -13.2%
• By 2075: 79,395 · -24.5%
• By 2100: 66,107 · -37.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Two or more races 16% Hispanic / Latino 8% Pacific Islander 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 4% Portuguese 3% Scotch-Irish 3%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Asian/Pacific 2% Tagalog/Filipino 1%

Political lean MEDSL · Douglas

• 2024 margin: Solid R (+37.7) · D 29.9% · R 67.6% · Other 2.5%
• 2008→2024 swing: -17.6pp toward R · 2008: -20.1pp · 2024: -37.7pp
• All cycles: 2024: R+37.7 2020: R+37.5 2016: R+39.4 2012: R+27.6 2008: R+20.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 14.70%
• Current HPI: 330.4865
• 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

+322.2% since first listed

3 events — show timeline

• 2026-05-08 Price Changed $190,000 RMLS
• 2026-04-14 Listed $215,000 RMLS
• 2010-01-11 Sold (Public Records) $45,000 Public Records

Property tax history

+2.1%/yr

Latest (2025): $560 · +3.0% YoY. Source: county tax records.