151 Edwards Rd · Monmouth, OR 97361

$155,000

3 bd · 2.0 ba · 1,512 sqft · SingleFamily · 119 Days on market

Built 2016 $103/sqft · 65% below area ↓ 6% 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 +26.2/30.0
• DSCR +8.9/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Livability +3.6/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this move-in ready 3-bedroom, 2-bath manufactured home with 1,512 sq ft of comfortable living space. Built in 2016 and thoughtfully refreshed with new carpet, fresh interior paint, and professional cleaning. The inviting layout offers generous living areas and great functionality. Located in a family park, this home is clean, comfortable, and ready for you to move right in.

Key facts

• Built 2016
• Listed 118 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $395 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $141k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 2.5% 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; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 177 units permitted in Polk County in 2024 (14 in 5+ unit buildings).
• This rent runs 32% of the median local income ($70k/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 $1k of loan paydown is wiped out by about $5k 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 $43k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($141k) is reasonable based on typical stale-listing flexibility.

Recommended offer $141,050 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% 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: 1.20% ✓
• Cap rate: 9.35%
• Cash-on-cash: 10.93%
• DSCR: 1.49
• GRM: 7.0

CMA / ARV

• ARV (median comp): $444,537
• List price: $155,000
• Delta: -65.13%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1369 Bentley St E	0.26mi	3/2.0	1,554 (+3%)	8mo	$549,000	$353	76
1328 Alberta Ave E	0.25mi	3/2.0	1,392 (-8%)	2mo	$444,500	$319	74
1466 Ash Creek Dr	0.53mi	3/2.0	1,574 (+4%)	7mo	$605,597	$385	63
1082 Alberta Ave E	0.31mi	3/2.0	1,356 (-10%)	8mo	$410,000	$302	62
1515 Bentley St E	0.25mi	4/2.0 (+1)	1,699 (+12%)	4mo	$370,000	$218	60
1176 Gwinn St E	0.40mi	3/2.0	1,676 (+11%)	4mo	$573,000	$342	60
1884 Denali Dr	0.60mi	3/2.0	1,564 (+3%)	9mo	$439,000	$281	59
1665 Gwinn St E	0.42mi	3/2.5	1,627 (+8%)	10mo	$495,000	$304	58
555 N High St	0.56mi	3/3.0	1,618 (+7%)	8mo	$435,000	$269	51
789 Craven St N	0.62mi	3/2.0	1,627 (+8%)	9mo	$461,500	$284	51
89 S Gun Club Rd	0.73mi	3/2.0	1,345 (-11%)	8mo	$400,000	$297	41
751 Catron St N	0.75mi	3/1.5	1,304 (-14%)	2mo	$320,000	$245	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: 0.1%
• Equity multiple: 1.00×
• Total profit: $86
• Equity at exit: $23,111

10-year hold

• IRR: 9.7%
• Equity multiple: 1.75×
• Total profit: $32,604
• Equity at exit: $13,402

Cash invested: $43,400 (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: 7.0×

Monthly cashflow live

• Estimated rent: $1,856 high
• Mortgage (P&I): −$813
• Tax est. 1.5%: −$194 /mo · $2,325/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$390
• Net cashflow: $395

Break-even live

Break-even rent $1,356

Max offer price $155,000

Occupancy floor 74%

Sensitivity live

Price	-10% $502	-5% $449	+0% $395	+5% $342	+10% $288
Rent	-10% $249	-5% $322	+0% $395	+5% $469	+10% $542
Rate	-1.0pp $473	-0.5pp $435	base $395	+0.5pp $355	+1.0pp $314

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
314 Monmouth Independence Hwy Monmouth, OR	3.0	1.0	1100	$1,795	$1.63	45d	1	0.21mi
460 Talmadge Rd Independence, OR	3.0	2.0	1886	$1,995	$1.06	25d	1	0.30mi
1439 Falcon Loop Unit 1439 Independence, OR	3.0	2.5	1262	$1,895	$1.50	25d	1	0.59mi
501 Catron St N Monmouth, OR	2.0	2.0	1090	$1,450	$1.33	15d	1	0.62mi
406 Madrona St E Unit 406 Monmouth, OR	4.0	2.5	1250	$2,000	$1.60	45d	1	0.63mi
1408 Falcon Loop Unit 1408 Independence, OR	3.0	2.0	1056	$1,795	$1.70	15d	1	0.64mi
523 Catron St N Unit 523-05 Monmouth, OR	2.0	2.0	1090	$1,450	$1.33	25d	1	0.65mi
523 Catron St N Unit 523-11 Monmouth, OR	2.0	2.0	1090	$1,400	$1.28	45d	1	0.65mi
468 Catron St N Monmouth, OR	3.0	2.5	1300	$1,895	$1.46	15d	1	0.67mi
537 Catron St N Unit 537-05 Monmouth, OR	2.0	2.0	1090	$1,400	$1.28	45d	1	0.67mi
1400 E St Independence, OR	2.0–3.0	1.0–2.0	962	$1,725	$1.79	15d	2	0.69mi
331 Broad St N Unit 331-3 Monmouth, OR	2.0	1.5	1188	$1,395	$1.17	45d	1	0.70mi
263 Gwinn St E Unit 263 Monmouth, OR	3.0	2.5	1250	$1,795	$1.44	25d	1	0.80mi
1085 Sassafras St Independence, OR	3.0	2.0	1679	$2,350	$1.40	45d	1	1.04mi
1422 Marigold Dr Independence, OR	3.0	2.5	1380	$1,995	$1.45	45d	1	1.04mi
1428 Northgate Dr Independence, OR	3.0	2.5	1530	$2,350	$1.54	45d	1	1.12mi
312 Hoxton Ave Unit 3bd/2ba_1,149sq Monmouth, OR	3.0	2.0	1149	$2,150	$1.87	15d	1	1.17mi
300 Hoxton Ave #202 Monmouth, OR	3.0	2.0	1149	$2,150	$1.87	45d	1	1.18mi
300 Hoxton Ave Monmouth, OR	2.0–3.0	2.0	960	$2,150	$2.24	15d	9	1.18mi
528 S 7th St Unit 1 Independence, OR	3.0	2.0	1541	$2,295	$1.49	25d	1	1.24mi

Listing history 12 events

1. 2026-06-10
   days on market $155,000 Active 119 DOM
2. 2026-06-09
   days on market $155,000 Active 118 DOM
3. 2026-06-08
   days on market $155,000 Active 117 DOM
4. 2026-06-07
   days on market $155,000 Active 116 DOM
5. 2026-06-05
   days on market $155,000 Active 113 DOM
6. 2026-06-03
   days on market $155,000 Active 112 DOM
7. 2026-06-02
   days on market $155,000 Active 111 DOM
8. 2026-06-01
   days on market $155,000 Active 110 DOM
9. 2026-05-31
   days on market $155,000 Active 109 DOM
10. 2026-05-30
    days on market $155,000 Active 108 DOM
11. 2026-02-12
    price $155,000 392-char remark

    Show marketing remark (392 chars)

    Welcome home to this move-in ready 3-bedroom, 2-bath manufactured home with 1,512 sq ft of comfortable living space. Built in 2016 and thoughtfully refreshed with new carpet, fresh interior paint, and professional cleaning. The inviting layout offers generous living areas and great functionality. Located in a family park, this home is clean, comfortable, and ready for you to move right in.

12. 2026-02-11
    listed $165,000 Active 392-char remark

    Show marketing remark (392 chars)

    Welcome home to this move-in ready 3-bedroom, 2-bath manufactured home with 1,512 sq ft of comfortable living space. Built in 2016 and thoughtfully refreshed with new carpet, fresh interior paint, and professional cleaning. The inviting layout offers generous living areas and great functionality. Located in a family park, this home is clean, comfortable, and ready for you to move right in.

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

Taxation est. · year 1

• Rental income: $22,275
• − Mortgage interest: −$8,682
• − Property taxes: −$2,325
• − Insurance: −$775
• − Repairs & maintenance: −$1,782
• − Management: −$1,782
• − Depreciation: −$4,509
• Taxable income: $2,419
• Est. tax owed @ 24.0%: −$581
• After-tax cash flow: $4,162/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: 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

-6.1% since first listed

2 events — show timeline

• 2026-02-12 Price Changed $155,000 RMLS
• 2026-02-11 Listed $165,000 RMLS