300 SE LaCreole Dr #219 · Dallas, OR 97338

$34,000

2 bd · 2.0 ba · 1,080 sqft · Manufactured · 109 Days on market

Built 1989 $31/sqft · 66% below area

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

This affordably priced home located in one of the nicest communities around will allow you to be able to make your choice of improvements on it on a budget.

Key facts

• Garage
• Built 1989
• Listed 109 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $34k.

Deal economics

• At list price, monthly cash flow is $970 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $34k).
• Recommended offer: $31k (9.0% below list) — sets the bar for market timing.
• Cap rate 40.5% vs local median 2.3% 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: 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.
• Zoned schools: Lyle Elementary School (326 students, 72% FRL); Lacreole Middle School (586 students, 41% FRL); Dallas High School (836 students, 27% FRL).
• Market conditions: 220 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 $235 of loan paydown is wiped out by about $1k 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 $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 109 days — a 9% lower offer ($31k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 16y ago; this cycle's ask has dropped $6k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $11k; list at $34k implies a 209% 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 $30,940 (9.0% below list)

Questions for the listing agent

1. It's been on market 109 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. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 4.48% ✓
• Cap rate: 40.52%
• Cash-on-cash: 122.23%
• DSCR: 6.44
• GRM: 1.9

CMA / ARV

• ARV (median comp): $100,000
• List price: $34,000
• Delta: -66.00%
• Verdict: UNDERPRICED
• 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 #237	0.00mi	2/2.0	1,080 (0%)	11mo	$38,000	$35	91
300 SE Lacreole Dr #211	0.00mi	2/2.0	1,188 (+10%)	7mo	$79,500	$67	78
300 SE Lacreole Dr #250	0.17mi	2/2.0	1,152 (+7%)	13mo	$147,000	$128	70
300 SE LaCreole Dr #210	0.12mi	3/2.0 (+1)	1,188 (+10%)	3mo	$100,000	$84	70
300 SE Lacreole Dr #283	0.00mi	2/2.0	1,224 (+13%)	12mo	$116,000	$95	68
450 SE Lacreole Dr #131	0.24mi	2/2.0	960 (-11%)	3mo	$159,500	$166	68
1030 E Ellendale Ave #3	0.16mi	3/1.5 (+1)	1,176 (+9%)	9mo	$60,000	$51	63
450 SE LaCreole Rd #146	0.25mi	3/2.0 (+1)	1,152 (+7%)	13mo	$110,000	$95	61
450 SE Lacreole Dr #1	0.24mi	2/2.0	960 (-11%)	12mo	$98,750	$103	60
300 LaCreole Dr #296	0.17mi	3/2.0 (+1)	1,215 (+12%)	13mo	$108,000	$89	56
450 SE LaCreole Dr #43	0.25mi	2/1.0	924 (-14%)	12mo	$45,000	$49	51
420 NE Dallas Dr	0.69mi	3/2.0 (+1)	1,056 (-2%)	11mo	$334,000	$316	50

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: —
• Equity multiple: 6.91×
• Total profit: $56,272
• Equity at exit: $5,070

10-year hold

• IRR: —
• Equity multiple: 14.51×
• Total profit: $128,617
• Equity at exit: $2,940

Cash invested: $9,520 (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: 220
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,525 high
• Mortgage (P&I): −$178
• Tax est. 1.5%: −$42 /mo · $510/yr
• Insurance: −$14
• HOA: −$0
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $970

Break-even live

Break-even rent $297

Max offer price $34,000

Occupancy floor 31%

Sensitivity live

Price	-10% $993	-5% $981	+0% $970	+5% $958	+10% $946
Rent	-10% $849	-5% $909	+0% $970	+5% $1,030	+10% $1,090
Rate	-1.0pp $987	-0.5pp $978	base $970	+0.5pp $961	+1.0pp $952

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: $8,500
• Closing costs: $1,020
• Reserves months: —
• Total cash needed: —

Rent comps 17 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
325 SE Lacreole Dr Dallas, OR	2.0	1.0	828	$1,025	$1.24	0d	1	0.27mi
481 E Ellendale Ave Dallas, OR	2.0	2.0	1050	$1,425	$1.36	0d	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
926 SE Uglow Ave #3 Dallas, OR	2.0	1.0	729	$1,345	$1.84	15d	1	0.92mi
926 SE Uglow Ave Unit 4 Dallas, OR	2.0	1.0	860	$1,345	$1.56	45d	1	0.92mi
505 SE Mill St Dallas, OR	2.0	1.0	864	$1,500	$1.74	18d	1	0.96mi
505 SE Mill St Unit 505 Dallas, OR	2.0	1.0	864	$1,500	$1.74	15d	1	0.96mi
1267 SE Holman Ave Unit 2 Dallas, OR	3.0	1.5	1045	$1,850	$1.77	25d	1	0.99mi
375 S Main St Dallas, OR	2.0	1.0	800	$1,650	$2.06	15d	1	1.01mi
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
237 SE Clay St Dallas, OR	2.0	1.0	970	$1,550	$1.60	0d	1	1.23mi
325 SW Academy St Unit 14 Dallas, OR	2.0	1.0	700	$1,195	$1.71	15d	1	1.30mi
1338 Main St Apt 2 Dallas, OR	3.0	1.0	864	$1,525	$1.77	22d	1	1.38mi

Listing history 28 events

1. 2026-06-21
   days on market $34,000 Active 109 DOM
2. 2026-06-18
   days on market $34,000 Active 106 DOM
3. 2026-06-17
   days on market $34,000 Active 105 DOM
4. 2026-06-16
   days on market $34,000 Active 104 DOM
5. 2026-06-15
   days on market $34,000 Active 103 DOM
6. 2026-06-14
   days on market $34,000 Active 101 DOM
7. 2026-06-10
   days on market $34,000 Active 98 DOM
8. 2026-06-09
   days on market $34,000 Active 97 DOM
9. 2026-06-08
   days on market $34,000 Active 96 DOM
10. 2026-06-07
    pricestatusdays on market $34,000 Active 95 DOM
11. 2026-05-30
    status $40,000 Pending 91 DOM
12. 2026-02-27
    listed $40,000 Active 156-char remark

    Show marketing remark (156 chars)

    This affordably priced home located in one of the nicest communities around will allow you to be able to make your choice of improvements on it on a budget.

13. 2010-11-02
    historical 192-char remark

    Show marketing remark (192 chars)

    Low maintenance home priced to sell! Enjoy the benefits of this easy care yard, low taxes, and very comfortable home. All appliances, including washer & Dryer come with an accepted offer.

14. 2010-11-02
    soldstatus $11,000 Sold

    Show marketing remark (192 chars)

    Low maintenance home priced to sell! Enjoy the benefits of this easy care yard, low taxes, and very comfortable home. All appliances, including washer & Dryer come with an accepted offer.

15. 2010-11-02
    soldstatus $11,000 Sold 192-char remark

    Show marketing remark (192 chars)

    Low maintenance home priced to sell! Enjoy the benefits of this easy care yard, low taxes, and very comfortable home. All appliances, including washer & Dryer come with an accepted offer.

16. 2010-09-30
    price $12,750 192-char remark

    Show marketing remark (192 chars)

    Low maintenance home priced to sell! Enjoy the benefits of this easy care yard, low taxes, and very comfortable home. All appliances, including washer & Dryer come with an accepted offer.

17. 2010-09-30
    price $12,750

    Show marketing remark (192 chars)

    Low maintenance home priced to sell! Enjoy the benefits of this easy care yard, low taxes, and very comfortable home. All appliances, including washer & Dryer come with an accepted offer.

18. 2010-09-10
    status Active

    Show marketing remark (192 chars)

    Low maintenance home priced to sell! Enjoy the benefits of this easy care yard, low taxes, and very comfortable home. All appliances, including washer & Dryer come with an accepted offer.

19. 2010-09-10
    status Active 192-char remark

    Show marketing remark (192 chars)

    Low maintenance home priced to sell! Enjoy the benefits of this easy care yard, low taxes, and very comfortable home. All appliances, including washer & Dryer come with an accepted offer.

20. 2010-09-10
    historical

    Show marketing remark (192 chars)

    Low maintenance home priced to sell! Enjoy the benefits of this easy care yard, low taxes, and very comfortable home. All appliances, including washer & Dryer come with an accepted offer.

21. 2010-09-10
    historical 192-char remark

    Show marketing remark (192 chars)

    Low maintenance home priced to sell! Enjoy the benefits of this easy care yard, low taxes, and very comfortable home. All appliances, including washer & Dryer come with an accepted offer.

22. 2010-08-20
    price $13,000 192-char remark

    Show marketing remark (192 chars)

    Low maintenance home priced to sell! Enjoy the benefits of this easy care yard, low taxes, and very comfortable home. All appliances, including washer & Dryer come with an accepted offer.

23. 2010-07-20
    price $14,900
24. 2010-07-19
    price $14,900 192-char remark

    Show marketing remark (192 chars)

    Low maintenance home priced to sell! Enjoy the benefits of this easy care yard, low taxes, and very comfortable home. All appliances, including washer & Dryer come with an accepted offer.

25. 2010-05-25
    price $16,900

    Show marketing remark (192 chars)

    Low maintenance home priced to sell! Enjoy the benefits of this easy care yard, low taxes, and very comfortable home. All appliances, including washer & Dryer come with an accepted offer.

26. 2010-05-25
    price $16,900 192-char remark

    Show marketing remark (192 chars)

    Low maintenance home priced to sell! Enjoy the benefits of this easy care yard, low taxes, and very comfortable home. All appliances, including washer & Dryer come with an accepted offer.

27. 2010-03-16
    listed $19,900 Active
28. 2010-03-12
    listed $19,900 Active 192-char remark

    Show marketing remark (192 chars)

    Low maintenance home priced to sell! Enjoy the benefits of this easy care yard, low taxes, and very comfortable home. All appliances, including washer & Dryer come with an accepted offer.

ⓘ 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: $18,298
• − Mortgage interest: −$1,905
• − Property taxes: −$510
• − Insurance: −$170
• − Repairs & maintenance: −$1,464
• − Management: −$1,464
• − Depreciation: −$989
• Taxable income: $11,797
• Est. tax owed @ 24.0%: −$2,831
• After-tax cash flow: $8,805/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

+101.0% since first listed

17 events — show timeline

• 2026-02-27 Listed $40,000 WVMLS
• 2010-11-02 Listing Removed — WVMLS
• 2010-11-02 Sold (MLS) $11,000 WVMLS
• 2010-11-02 Sold (MLS) $11,000 RMLS
• 2010-09-30 Price Changed $12,750 WVMLS
• 2010-09-30 Price Changed $12,750 RMLS
• 2010-09-10 Relisted — RMLS
• 2010-09-10 Relisted — WVMLS
• 2010-09-10 Delisted — RMLS
• 2010-09-10 Listing Removed — WVMLS
• 2010-08-20 Price Changed $13,000 WVMLS
• 2010-07-20 Price Changed $14,900 RMLS
• 2010-07-19 Price Changed $14,900 WVMLS
• 2010-05-25 Price Changed $16,900 RMLS
• 2010-05-25 Price Changed $16,900 WVMLS
• 2010-03-16 Listed $19,900 RMLS
• 2010-03-12 Listed $19,900 WVMLS