764 NE Main St · Willamina, OR 97396

$299,900

8 bd · 3.0 ba · 2,104 sqft · MultiFamily public records · 448 Days on market

Built 1941 4,791 sqft lot $143/sqft · 14% below area Est $474k · 37% under

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +9.2/10.0
• 1% rule +8.3/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Three units with great income near shopping, ideal for investment or dual living. 3-bedroom duplex plus one 2-bedroom house. The duplex features 3 BR 1 BA with separate laundry room on each side, with new gas wall heater installed in 2021. Additionally, unit B has bathroom flooring installed in 2021. The house has refreshed painting, bathroom, electrical panel, new refrigerator & stove in 2024. Separately metered for electrical, separately plumbed for water/sewer in 2022 so water meter can be added easily.

Key facts

• New stove
• New gas wall heater
• New refrigerator

Tags

• SEPARATE LAUNDRY ROOM
• NEW GAS WALL HEATER
• BATHROOM FLOORING
• REFRESHED PAINTING
• NEW REFRIGERATOR
• NEW STOVE

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/?-bath units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $639/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $300k).
• Recommended offer: $264k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.7% vs local median 3.1% in Willamina — 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 62/100 on livability (#247 in OR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety D+, schools F, amenities F.
• Willamina SD 30J (rural): math 13% / reading 31% proficiency, ranked #177 of 183 in OR (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 45 active listings in the ZIP; 282 units permitted in Yamhill County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $27k of equity ($2k loan paydown + $25k appreciation (8.4% local appreciation)).
• Yamhill County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (8.4% appreciation + 3.0% rent growth), your $84k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$44k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 448 days — a 12% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $60k; list at $300k implies a 400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $263,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 448 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.33% ✓
• Cap rate: 11.67%
• Cash-on-cash: 19.21%
• DSCR: 1.85
• GRM: 6.3

CMA / ARV

• ARV (median comp): $474,336
• List price: $299,900
• Delta: -36.77%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

8.37% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 35.0%
• Equity multiple: 3.53×
• Total profit: $212,064
• Equity at exit: $235,485

10-year hold

• IRR: 30.9%
• Equity multiple: 7.61×
• Total profit: $555,118
• Equity at exit: $474,919

Cash invested: $83,972 (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 97396

• Home prices YoY: 2.5%
• Active inventory: 45
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $3,986 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$107 /mo · $1,281/yr
• Insurance: −$125
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$837
• Net cashflow: $1,278

Break-even live

Break-even rent $2,368

Max offer price $299,900

Occupancy floor 63%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	4	—	$3,986
Total (2 units)			$3,986

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $299,900 Active 448 DOM
2. 2026-06-17
   days on market $299,900 Active 447 DOM
3. 2026-06-16
   days on market $299,900 Active 446 DOM
4. 2026-06-15
   days on market $299,900 Active 445 DOM
5. 2026-06-13
   days on market $299,900 Active 443 DOM
6. 2026-06-12
   days on market $299,900 Active 442 DOM
7. 2026-06-09
   days on market $299,900 Active 439 DOM
8. 2026-06-08
   days on market $299,900 Active 438 DOM
9. 2026-06-08
   days on market $299,900 Active 437 DOM
10. 2026-06-07
    days on market $299,900 Active 436 DOM
11. 2026-06-04
    days on market $299,900 Active 433 DOM
12. 2026-06-02
    days on market $299,900 Active 432 DOM
13. 2026-06-01
    days on market $299,900 Active 431 DOM
14. 2026-05-31
    days on market $299,900 Active 430 DOM
15. 2026-05-01
    status Active 515-char remark

    Show marketing remark (515 chars)

    Three units with great income near shopping, ideal for investment or dual living. 3-bedroom duplex plus one 2-bedroom house. The duplex features 3 BR 1 BA with separate laundry room on each side, with new gas wall heater installed in 2021. Additionally, unit B has bathroom flooring installed in 2021. The house has refreshed painting, bathroom, electrical panel, new refrigerator & stove in 2024. Separately metered for electrical, separately plumbed for water/sewer in 2022 so water meter can be added easily.

16. 2026-05-01
    historical 515-char remark

    Show marketing remark (515 chars)

    Three units with great income near shopping, ideal for investment or dual living. 3-bedroom duplex plus one 2-bedroom house. The duplex features 3 BR 1 BA with separate laundry room on each side, with new gas wall heater installed in 2021. Additionally, unit B has bathroom flooring installed in 2021. The house has refreshed painting, bathroom, electrical panel, new refrigerator & stove in 2024. Separately metered for electrical, separately plumbed for water/sewer in 2022 so water meter can be added easily.

17. 2026-02-03
    listed $299,900 Active 515-char remark

    Show marketing remark (515 chars)

    Three units with great income near shopping, ideal for investment or dual living. 3-bedroom duplex plus one 2-bedroom house. The duplex features 3 BR 1 BA with separate laundry room on each side, with new gas wall heater installed in 2021. Additionally, unit B has bathroom flooring installed in 2021. The house has refreshed painting, bathroom, electrical panel, new refrigerator & stove in 2024. Separately metered for electrical, separately plumbed for water/sewer in 2022 so water meter can be added easily.

18. 2026-01-15
    price $299,900
19. 2026-01-14
    price $299,900
20. 2025-08-10
    price $325,000
21. 2025-08-10
    price $325,000
22. 2025-03-27
    listed $365,000 Active
23. 1992-12-02
    soldstatus $60,000
24. 1989-11-01
    soldstatus $30,000

ⓘ 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: $1,281 · $107/mo
• Projected year-2 tax: $2,909 · $242/mo
• Expected delta: +$1,628/yr (+$136/mo · 127.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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 11 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $47,832
• − Mortgage interest: −$16,799
• − Property taxes: −$1,281
• − Insurance: −$2,297
• − Repairs & maintenance: −$3,827
• − Management: −$3,827
• − Depreciation: −$8,724
• Taxable income: $11,078
• Est. tax owed @ 24.0%: −$2,659
• After-tax cash flow: $12,678/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: Willamina SD 30J
• NCES district ID: 4113350
• Math proficiency: 13% ▼ -3.00%
• Reading proficiency: 31% ▲ 3.00%
• Median HH income: $42,426
• Composite: 21.97/100
• National rank: #13548
• State rank: #177 of 183 in OR

Livability — Willamina

• Score: 62/100
• State rank: #247
• US rank: #17087

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Willamina, OR
• Population (ZIP): 3,447

Population outlook (Yamhill County) Hauer SSP2

• Today (2025): 109,295 people
• By 2030: 112,060 · +2.5%
• By 2040: 115,975 · +6.1%
• By 2050: 118,155 · +8.1%
• By 2075: 120,968 · +10.7%
• By 2100: 116,163 · +6.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 11% Two or more races 10% Native American 5%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 9% Italian 3% Lithuanian 3%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Yamhill

• 2024 margin: Lean R (+6.1) · D 45.3% · R 51.4% · Other 3.3%
• 2008→2024 swing: -4.8pp toward R · 2008: -1.4pp · 2024: -6.1pp
• All cycles: 2024: R+6.1 2020: R+4.0 2016: R+8.8 2012: R+6.7 2008: R+1.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.37%
• Current HPI: 347.9336
• 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

+899.7% since first listed

10 events — show timeline

• 2026-05-01 Relisted — WVMLS
• 2026-05-01 Listing Removed — WVMLS
• 2026-02-03 Listed $299,900 WVMLS
• 2026-01-15 Price Changed $299,900 WVMLS
• 2026-01-14 Price Changed $299,900 RMLS
• 2025-08-10 Price Changed $325,000 WVMLS
• 2025-08-10 Price Changed $325,000 RMLS
• 2025-03-27 Listed $365,000 RMLS
• 1992-12-02 Sold (Public Records) $60,000 Public Records
• 1989-11-01 Sold (Public Records) $30,000 Public Records

Property tax history

+3.6%/yr

Latest (2025): $1,281 · +3.4% YoY. Source: county tax records.