813 SE Ford St · McMinnville, OR 97128

$439,000

4 bd · 2.0 ba · 1,381 sqft · MultiFamily public records · 165 Days on market

Built 1900 5,662 sqft lot $318/sqft · 10% below area Est $489k · 10% under

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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 +17.1/30.0
• ARV discount +12.1/15.0
• DSCR +5.3/10.0
• Schools +4.8/10.0
• Livability +3.8/5.0
• 1% rule +3.7/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

*One unit is vacant, and ready for house-hackers!* Updated duplex within walking distance of Linfield University and Downtown McMinnville. This duplex has a two-bedroom, one-bath unit and a one-bedroom, one-bath unit. One unit has a detached storage shed on the property, and both have separate driveways. The units have recently been updated with new quartz countertops, bathrooms, and laminate flooring. The roof, exterior, and interior painting were redone in the last five years. for more gross income and rent information. A 24-hour notice must be given prior to any showings.

Key facts

• Updated roof
• New bathrooms
• 5,662 sq ft lot

Tags

• DETACHED STORAGE SHED
• NEW QUARTZ COUNTERTOPS
• NEW BATHROOMS
• NEW LAMINATE FLOORING
• UPDATED ROOF
• UPDATED EXTERIOR PAINTING

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $439k.

Deal economics

• At list price, monthly cash flow is $309 ($4k/yr) — positive. Per door: $154/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $380k (13.5% below list).
• Recommended offer: $380k (13.5% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 3.2% in McMinnville — 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 76/100 on livability (#79 in OR, #3,556 nationally) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing A, crime B; Watch: commute D+.
• Mcminnville SD 40 (town): math 50% / reading 58% proficiency, ranked #20 of 183 in OR (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents flat; 396 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 282 units permitted in Yamhill County in 2024 (0 in 5+ unit buildings).
• At $3,798/mo this rent would consume 60% of the median local household income ($76k/yr) (locally 1508% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Yamhill County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 165 days — a 12% lower offer ($386k) is reasonable based on typical stale-listing flexibility.
• 4 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 $356k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $379,800 (13.5% below list)

Questions for the listing agent

1. It's been on market 165 days. Have you received any prior offers? Is the seller open to a 13% 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 0.87% ✗
• Cap rate: 7.14%
• Cash-on-cash: 3.01%
• DSCR: 1.13
• GRM: 9.6

CMA / ARV

• ARV (median comp): $488,984
• List price: $439,000
• Delta: -10.22%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1032 SE Willow St	0.23mi	4/2.0	1,500 (+9%)	20mo	$495,000	$330	58

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 · 0.79% rent growth · sell at horizon

5-year hold

• IRR: -13.8%
• Equity multiple: 0.51×
• Total profit: $-59,894
• Equity at exit: $65,456

10-year hold

• IRR: -8.6%
• Equity multiple: 0.51×
• Total profit: $-59,900
• Equity at exit: $37,957

Cash invested: $122,920 (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 97128

• Rents YoY: 0.8%
• Active inventory: 396
• Price-to-rent: 19.3×

Monthly cashflow live

• Estimated rent: $3,798 medium
• Mortgage (P&I): −$2,302
• Tax from tax record: −$207 /mo · $2,480/yr
• Insurance: −$183
• HOA: −$0
• Vacancy / Maint / Mgmt: −$798
• Net cashflow: $309

Break-even live

Break-even rent $3,407

Max offer price $439,000

Occupancy floor 87%

Sensitivity live

Price	-10% $557	-5% $433	+0% $309	+5% $184	+10% $60
Rent	-10% $9	-5% $159	+0% $309	+5% $459	+10% $609
Rate	-1.0pp $530	-0.5pp $420	base $309	+0.5pp $195	+1.0pp $79

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,798
Total (2 units)			$3,798

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: $109,750
• Closing costs: $13,170
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1116 SE Millright Ave McMinnville, OR	3.0	2.5	1652	$2,300	$1.39	44d	1	0.22mi
624 SW Drumwood Ave McMinnville, OR	1.0–3.0	1.0–1.5	878	$2,400	$2.73	2d	4	0.49mi
1149 SW Brockwood Ave McMinnville, OR	3.0	2.0	1432	$3,600	$2.51	24d	1	0.67mi
605 NW Adams St McMinnville, OR	2.0–3.0	1.0	855	$1,750	$2.05	2d	2	0.68mi
140 SW Daniels St McMinnville, OR	3.0	1.0	1524	$1,995	$1.31	24d	1	0.84mi
1302 SW Wright St McMinnville, OR	3.0	2.5	1763	$2,400	$1.36	44d	1	0.94mi
939 SW Fellows Ct McMinnville, OR	3.0	2.0	1729	$2,375	$1.37	44d	1	1.02mi
136 SW Sharon Jane Pl McMinnville, OR	3.0	2.0	1477	$2,150	$1.46	22d	1	1.12mi
385 SE Norton Ln McMinnville, OR	2.0–3.0	2.0	1001	$2,170	$2.17	2d	10	1.32mi
1795 NW 2nd St McMinnville, OR	2.0–3.0	1.0	1250	$2,250	$1.80	2d	2	1.38mi

Listing history 26 events

1. 2026-06-21
   days on market $439,000 Active 165 DOM
2. 2026-06-18
   days on market $439,000 Active 162 DOM
3. 2026-06-17
   days on market $439,000 Active 161 DOM
4. 2026-06-16
   days on market $439,000 Active 160 DOM
5. 2026-06-15
   days on market $439,000 Active 159 DOM
6. 2026-06-13
   days on market $439,000 Active 157 DOM
7. 2026-06-13
   days on market $439,000 Active 156 DOM
8. 2026-06-09
   days on market $439,000 Active 153 DOM
9. 2026-06-08
   days on market $439,000 Active 152 DOM
10. 2026-06-07
    days on market $439,000 Active 151 DOM
11. 2026-06-05
    days on market $439,000 Active 148 DOM
12. 2026-06-03
    days on market $439,000 Active 147 DOM
13. 2026-06-02
    days on market $439,000 Active 146 DOM
14. 2026-06-01
    days on market $439,000 Active 145 DOM
15. 2026-05-31
    days on market $439,000 Active 144 DOM
16. 2026-05-04
    status Active 581-char remark

    Show marketing remark (581 chars)

    *One unit is vacant, and ready for house-hackers!* Updated duplex within walking distance of Linfield University and Downtown McMinnville. This duplex has a two-bedroom, one-bath unit and a one-bedroom, one-bath unit. One unit has a detached storage shed on the property, and both have separate driveways. The units have recently been updated with new quartz countertops, bathrooms, and laminate flooring. The roof, exterior, and interior painting were redone in the last five years. for more gross income and rent information. A 24-hour notice must be given prior to any showings.

17. 2025-07-13
    status Active 581-char remark

    Show marketing remark (581 chars)

    *One unit is vacant, and ready for house-hackers!* Updated duplex within walking distance of Linfield University and Downtown McMinnville. This duplex has a two-bedroom, one-bath unit and a one-bedroom, one-bath unit. One unit has a detached storage shed on the property, and both have separate driveways. The units have recently been updated with new quartz countertops, bathrooms, and laminate flooring. The roof, exterior, and interior painting were redone in the last five years. for more gross income and rent information. A 24-hour notice must be given prior to any showings.

18. 2025-06-05
    status Pending 581-char remark

    Show marketing remark (581 chars)

    *One unit is vacant, and ready for house-hackers!* Updated duplex within walking distance of Linfield University and Downtown McMinnville. This duplex has a two-bedroom, one-bath unit and a one-bedroom, one-bath unit. One unit has a detached storage shed on the property, and both have separate driveways. The units have recently been updated with new quartz countertops, bathrooms, and laminate flooring. The roof, exterior, and interior painting were redone in the last five years. for more gross income and rent information. A 24-hour notice must be given prior to any showings.

19. 2025-05-02
    price $419,000 581-char remark

    Show marketing remark (581 chars)

    *One unit is vacant, and ready for house-hackers!* Updated duplex within walking distance of Linfield University and Downtown McMinnville. This duplex has a two-bedroom, one-bath unit and a one-bedroom, one-bath unit. One unit has a detached storage shed on the property, and both have separate driveways. The units have recently been updated with new quartz countertops, bathrooms, and laminate flooring. The roof, exterior, and interior painting were redone in the last five years. for more gross income and rent information. A 24-hour notice must be given prior to any showings.

20. 2025-04-11
    status Active 581-char remark

    Show marketing remark (581 chars)

    *One unit is vacant, and ready for house-hackers!* Updated duplex within walking distance of Linfield University and Downtown McMinnville. This duplex has a two-bedroom, one-bath unit and a one-bedroom, one-bath unit. One unit has a detached storage shed on the property, and both have separate driveways. The units have recently been updated with new quartz countertops, bathrooms, and laminate flooring. The roof, exterior, and interior painting were redone in the last five years. for more gross income and rent information. A 24-hour notice must be given prior to any showings.

21. 2025-03-06
    price $445,000 581-char remark

    Show marketing remark (581 chars)

    *One unit is vacant, and ready for house-hackers!* Updated duplex within walking distance of Linfield University and Downtown McMinnville. This duplex has a two-bedroom, one-bath unit and a one-bedroom, one-bath unit. One unit has a detached storage shed on the property, and both have separate driveways. The units have recently been updated with new quartz countertops, bathrooms, and laminate flooring. The roof, exterior, and interior painting were redone in the last five years. for more gross income and rent information. A 24-hour notice must be given prior to any showings.

22. 2025-02-25
    listed $457,000 Active 581-char remark

    Show marketing remark (581 chars)

    *One unit is vacant, and ready for house-hackers!* Updated duplex within walking distance of Linfield University and Downtown McMinnville. This duplex has a two-bedroom, one-bath unit and a one-bedroom, one-bath unit. One unit has a detached storage shed on the property, and both have separate driveways. The units have recently been updated with new quartz countertops, bathrooms, and laminate flooring. The roof, exterior, and interior painting were redone in the last five years. for more gross income and rent information. A 24-hour notice must be given prior to any showings.

23. 2023-12-07
    soldstatus $356,187
24. 2022-08-26
    soldstatus $375,000
25. 1993-05-04
    soldstatus $62,500
26. 1991-04-04
    soldstatus $120,500

ⓘ 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: $2,480 · $207/mo
• Projected year-2 tax: $4,258 · $355/mo
• Expected delta: +$1,778/yr (+$148/mo · 71.7%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 10 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $45,576
• − Mortgage interest: −$24,591
• − Property taxes: −$2,480
• − Insurance: −$2,195
• − Repairs & maintenance: −$3,646
• − Management: −$3,646
• − Depreciation: −$12,771
• Taxable loss: −$3,753
• Est. tax savings @ 24.0%: +$901
• After-tax cash flow: $4,605/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: Mcminnville SD 40
• NCES district ID: 4108010
• Math proficiency: 50% ▼ -1.00%
• Reading proficiency: 58% ▼ -1.00%
• Median HH income: $47,382
• Composite: 47.69/100
• National rank: #4919
• State rank: #20 of 183 in OR

Livability — McMinnville

• Score: 76/100
• State rank: #79
• US rank: #3556

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: McMinnville, OR
• County: Yamhill County · 71,150 people
• City population: 38,664
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 38,664
• Household income: $75,896
• Rent vs Own: 34.2% rent · 65.8% own
• Severe rent burden: 1508.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 19% Two or more races 14% Asian 2%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Italian 6% Portuguese 3% Slovak 3%
• Foreign-born: 9% · Canada, China, South Korea
• Languages at home: 85% English-only · Spanish 13% Chinese 1% German/W. Germanic 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: ▼ -201.59%
• Current HPI: 320.373
• Rent YoY: ▲ 0.79%
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• 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

+247.7% since first listed

11 events — show timeline

• 2026-05-04 Relisted — RMLS
• 2025-07-13 Relisted — RMLS
• 2025-06-05 Pending — RMLS
• 2025-05-02 Price Changed $419,000 RMLS
• 2025-04-11 Relisted — RMLS
• 2025-03-06 Price Changed $445,000 RMLS
• 2025-02-25 Listed $457,000 RMLS
• 2023-12-07 Sold (Public Records) $356,187 Public Records
• 2022-08-26 Sold (Public Records) $375,000 Public Records
• 1993-05-04 Sold (Public Records) $62,500 Public Records
• 1991-04-04 Sold (Public Records) $120,500 Public Records

Property tax history

+2.4%/yr

Latest (2025): $2,480 · +5.5% YoY. Source: county tax records.