1005 Ferry St

Dayton, OR 97114

$115,000B+

3 bd · 2.0 ba · 1,248 sqft · Built 1973 · Manufactured · Active · 181 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,295/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$192
• HOA: −$0
• Vac / Maint / Mgmt: −$482
• Net cashflow: $1,018/mo
• Annual: $12,220/yr
• Cap rate: 16.92%
• Cash-on-cash: 37.95%
• DSCR: 2.69
• 1% rule: 2.00%
• Cash to close: $32,200

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $115k. Condition is rated fair.
• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• It's been on market 181 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#264 in OR) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, employment B; Watch: health & safety D+, schools D-, amenities F.
• Dayton SD 8 (town): math 25% / reading 25% proficiency, ranked #50 of 58 in OR (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 25 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 282 units permitted in Yamhill County in 2024 (0 in 5+ unit buildings).
• Yamhill County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 4 sale attempts since 28y 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.
• Current owner paid $83k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~4 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 181 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.

Repairs flagged (vision-AI assessment)

• Major: Exterior siding — Significant wear and tear, likely requiring replacement.
• Major: Paint — Faded and worn, needs repainting.
• Major: Roof — Appears aged, may need replacement or repair.
• Major: Landscaping — Overgrown and lacks decorative elements, needs trimming and planting.
• Major: Foundation cracks — Cracks visible, may need repair or reinforcement.
• Minor: Windows — No visible damage, but may need cleaning or replacement of seals.