300 SE Lacreole Dr #282 · Dallas, OR 97338

$125,000

3 bd · 2.0 ba · 1,404 sqft · Manufactured · 53 Days on market

Built 1989 $89/sqft · at area comps Est $120k · at est.

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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 +9.2/10.0
• ARV discount +5.8/15.0
• Livability +4.0/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Very nice open floor plan. New roof, water heater, garbage disposal. Outside sprinkler system not working.

Key facts

• 2 garage spots
• Built 1989
• Listed 52 days

Property features AI

Finance

• Other: No assessments/liens
• HOA & community: Located in Greenway Estates, a 55+ community

Exterior

• Parking: Carport; 2-car garage spaces
• Utilities: City water; City sewer; Electric water heater
• Home design: Double wide mobile home; Located in a 55+ community (Greenway Estates); Adult park
• Construction: Built in 1989; Wood siding; Composition roof; Skyline make (mobile home)
• Exterior features: Partially fenced yard; Covered deck; Nicely landscaped yard

Interior

• Kitchen: Dishwasher; Electric range; Microwave included
• Bedrooms: 3 bedrooms
• Flooring: Carpet
• Bathrooms: 2 bathrooms
• Heating & cooling: Electric water heater; Newer HVAC system
• Interior features: Carpet flooring; Breakfast nook/bonus room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $542 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $121k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.5% vs local median 2.4% in Dallas — 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 (#61 in OR, #2,132 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, commute A; Watch: schools D+, amenities F.
• Dallas SD 2 (town): math 32% / reading 48% proficiency, ranked #102 of 183 in OR (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 219 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 177 units permitted in Polk County in 2024 (14 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k 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 $35k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 23y ago; this cycle's ask has dropped $20k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $125k implies a 400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $121,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.42% ✓
• Cap rate: 11.50%
• Cash-on-cash: 18.59%
• DSCR: 1.83
• GRM: 5.9

CMA / ARV

• ARV (median comp): $120,322
• List price: $125,000
• Delta: 3.89%
• Verdict: FAIR
• Comps: 19 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
300 SE Lacreole Dr #253	0.12mi	2/2.0 (-1)	1,404 (0%)	2mo	$55,000	$39	88
300 LaCreole Dr #220	0.17mi	2/2.0 (-1)	1,404 (0%)	2mo	$150,000	$107	85
300 SE LaCreole Dr #263	0.12mi	3/2.0	1,296 (-8%)	1mo	$145,900	$113	80
450 LaCreole Dr #25	0.15mi	3/2.0	1,296 (-8%)	1mo	$161,500	$125	80
300 SE Lacreole Dr #215	0.00mi	3/2.0	1,296 (-8%)	12mo	$75,000	$58	77
631 E Ellendale Ave #206	0.35mi	3/2.0	1,339 (-5%)	0mo	$154,000	$115	76
450 LaCreole Dr #31	0.24mi	2/2.0 (-1)	1,344 (-4%)	8mo	$106,000	$79	70
450 SE Lacreole Dr #128	0.25mi	3/2.0	1,248 (-11%)	2mo	$65,000	$52	69
300 SE Lacreole Dr #273	0.17mi	2/2.0 (-1)	1,512 (+8%)	9mo	$179,500	$119	67
300 SE Lacreole Dr #283	0.00mi	2/2.0 (-1)	1,224 (-13%)	12mo	$116,000	$95	64
450 SE Lacreole Dr #49	0.25mi	3/2.0	1,244 (-11%)	8mo	$122,000	$98	63
450 SE LaCreole Dr #50	0.25mi	3/2.0	1,269 (-10%)	12mo	$74,000	$58	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: 10.3%
• Equity multiple: 1.41×
• Total profit: $14,303
• Equity at exit: $18,638

10-year hold

• IRR: 19.4%
• Equity multiple: 2.63×
• Total profit: $57,028
• Equity at exit: $10,808

Cash invested: $35,000 (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 97338

• Active inventory: 219
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,780 high
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $542

Break-even live

Break-even rent $1,093

Max offer price $125,000

Occupancy floor 65%

Sensitivity live

Price	-10% $629	-5% $585	+0% $542	+5% $499	+10% $456
Rent	-10% $402	-5% $472	+0% $542	+5% $612	+10% $683
Rate	-1.0pp $605	-0.5pp $574	base $542	+0.5pp $510	+1.0pp $477

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
418 SE Lacreole Dr Apt 4 Dallas, OR	2.0	1.5	1120	$1,500	$1.34	45d	1	0.27mi
481 E Ellendale Ave Dallas, OR	2.0	2.0	1050	$1,425	$1.36	3d	2	0.50mi
352 NE Evergreen Ct Dallas, OR	2.0	1.0	1041	$1,700	$1.63	15d	1	0.74mi
1060 SE Miller Ave Dallas, OR	3.0	2.0	1200	$1,725	$1.44	15d	1	0.78mi
860 SE Fir Villa Rd Dallas, OR	3.0	2.0	1200	$2,200	$1.83	22d	1	0.91mi
1267 SE Holman Ave Unit 2 Dallas, OR	3.0	1.5	1045	$1,850	$1.77	24d	1	0.99mi
1289 SE Holman Ave Dallas, OR	3.0	1.0	926	$1,495	$1.61	45d	1	1.02mi
237 SE Clay St Apt 4 Dallas, OR	2.0	1.0	970	$1,550	$1.60	15d	1	1.23mi

Listing history 20 events

1. 2026-06-21
   days on market $125,000 Active 53 DOM
2. 2026-06-18
   days on market $125,000 Active 50 DOM
3. 2026-06-17
   days on market $125,000 Active 49 DOM
4. 2026-06-16
   pricedays on market $125,000 Active 48 DOM
5. 2026-06-15
   days on market $135,000 Active 47 DOM
6. 2026-06-14
   days on market $135,000 Active 45 DOM
7. 2026-06-10
   days on market $135,000 Active 42 DOM
8. 2026-06-09
   days on market $135,000 Active 41 DOM
9. 2026-06-08
   days on market $135,000 Active 40 DOM
10. 2026-06-07
    days on market $135,000 Active 39 DOM
11. 2026-06-03
    days on market $135,000 Active 35 DOM
12. 2026-06-02
    days on market $135,000 Active 34 DOM
13. 2026-06-01
    days on market $135,000 Active 33 DOM
14. 2026-05-31
    days on market $135,000 Active 32 DOM
15. 2026-05-30
    days on market $135,000 Active 31 DOM
16. 2026-05-19
    price $135,000 814-char remark
17. 2026-04-29
    listed $145,000 Active 814-char remark
18. 2004-03-22
    soldstatus $25,000 106-char remark

    Show marketing remark (106 chars)

    Very nice open floor plan. New roof, water heater, garbage disposal. Outside sprinkler system not working.

19. 2004-03-01
    historical 106-char remark

    Show marketing remark (106 chars)

    Very nice open floor plan. New roof, water heater, garbage disposal. Outside sprinkler system not working.

20. 2003-09-17
    listed $27,900 106-char remark

    Show marketing remark (106 chars)

    Very nice open floor plan. New roof, water heater, garbage disposal. Outside sprinkler system not working.

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

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 ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 10 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,357
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$1,709
• − Management: −$1,709
• − Depreciation: −$3,636
• Taxable income: $4,802
• Est. tax owed @ 24.0%: −$1,152
• After-tax cash flow: $5,354/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: Dallas SD 2
• NCES district ID: 4103860
• Math proficiency: 32% ▼ -7.00%
• Reading proficiency: 48% ▼ -4.00%
• Median HH income: $53,684
• Composite: 37.24/100
• National rank: #8983
• State rank: #102 of 183 in OR

Livability — Dallas

• Score: 79/100
• State rank: #61
• US rank: #2132

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dallas, OR
• County: Polk County · 84,240 people
• City population: 23,419
• Metro: Salem, OR
• Population (ZIP): 23,419
• Household income: $78,858
• Rent vs Own: 26.8% rent · 73.2% own
• Severe rent burden: 782.0

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 (81%)
• Race & ethnicity: White 81% Hispanic / Latino 10% Two or more races 9% Native American 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Slovak 4% Portuguese 3% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▼ -332.14%
• Current HPI: 311.4157
• 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

+348.0% since first listed

6 events — show timeline

• 2026-06-17 Price Changed $125,000 WVMLS
• 2026-05-19 Price Changed $135,000 WVMLS
• 2026-04-29 Listed $145,000 WVMLS
• 2004-03-22 Sold (MLS) $25,000 WVMLS
• 2004-03-01 Listing Removed — WVMLS
• 2003-09-17 Listed $27,900 WVMLS