241 W Bolz Rd · Phoenix, OR 97535

$400,000

4 bd · 3.0 ba · 2,224 sqft · MultiFamily public records · 6 Days on market

Built 1979 4,791 sqft lot

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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 +15.7/30.0
• ARV discount +7.5/15.0
• DSCR +4.8/10.0
• Livability +4.2/5.0
• 1% rule +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• 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

A rare chance to own income-producing property in Phoenix, Oregon! This well-kept duplex offers a bright kitchen and dining space, generous storage, and two upstairs bedrooms including one generously sized room. Step outside to a private fenced patio off each unit -- perfect for a little garden, fresh air, or an evening wind-down. Out front you'll find a welcoming grassy yard with convenient covered parking in the rear. All three buildings at 211, 231, and 241 are listed individually or available as a combined portfolio purchase. Unit 211B is currently vacant and ready to show, with tenant-occupied units available to view upon an accepted offer. Additional details available in associated do

Key facts

• Bright kitchen
• Private fenced patio
• Covered parking

Tags

• BRIGHT KITCHEN
• PRIVATE FENCED PATIO
• GRASSY YARD
• COVERED PARKING

Property features AI

Finance

• Financial info: Two-unit property; Unit A rent: $1,400/month; Unit B rent: $1,210/month
• HOA & community: No CCRs

Exterior

• Parking: Asphalt parking; Assigned parking; Two detached carports; On-street parking
• Security: Smoke detectors; Carbon monoxide detectors
• Utilities: Public water; Public sewer
• Home design: Residential income property (duplex); One level; One common wall
• Construction: Built in 1979; Frame construction; Slab foundation
• Exterior features: Composition and membrane roof; Double-pane windows with vinyl frames; Smoke and carbon monoxide detectors; Storage structure

Interior

• Kitchen: Oven; Range; Water heater
• Bedrooms: Unit A: 2 bedrooms; Unit B: 2 bedrooms
• Flooring: Carpet; Laminate
• Bathrooms: Each unit has 1 full bath and 1 half bath
• Heating & cooling: Heat pump heating; Central air conditioning; Heat pump cooling
• Interior features: Laminate countertops; Linen closet; Shower/tub combo
• Laundry & utility: Separate electric meters; Separate water meters

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $400k.

Deal economics

• At list price, monthly cash flow is $173 ($2k/yr) — positive. Per door: $87/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 $341k (14.8% below list).
• Recommended offer: $341k (14.8% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 5.0% in Phoenix — 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 83/100 on livability (#38 in OR, #884 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: crime C-, employment D+.
• Phoenix-Talent SD 4 (suburban): math 14% / reading 32% proficiency, ranked #58 of 58 in OR (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Phoenix Elementary School (math 15% / reading 15%, grade F, #392 of 412 statewide, top 96%, 300 students, 87% FRL); Talent Middle School (math 10% / reading 33%, grade F, #122 of 128 statewide, top 95%, 473 students, 79% FRL); Phoenix High School (math 24% / reading 70%, grade D-, #56 of 143 statewide, top 41%, 700 students, 79% FRL) — zoned schools average 82% FRL vs 60% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 65 active listings in the ZIP; 904 units permitted in Jackson County in 2024 (212 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Jackson County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $70k; list at $400k implies a 467% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $340,700 (14.8% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 0.85% ✗
• Cap rate: 6.81%
• Cash-on-cash: 1.85%
• DSCR: 1.08
• GRM: 9.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -13.4%
• Equity multiple: 0.52×
• Total profit: $-53,895
• Equity at exit: $59,641

10-year hold

• IRR: -4.5%
• Equity multiple: 0.70×
• Total profit: $-33,144
• Equity at exit: $34,585

Cash invested: $112,000 (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 97535

• Home prices YoY: -26.5%
• Active inventory: 65
• Price-to-rent: 19.6×

Monthly cashflow live

• Estimated rent: $3,407 high
• Mortgage (P&I): −$2,098
• Tax from tax record: −$254 /mo · $3,050/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$715
• Net cashflow: $173

Break-even live

Break-even rent $3,188

Max offer price $400,000

Occupancy floor 90%

Sensitivity live

Price	-10% $399	-5% $286	+0% $173	+5% $60	+10% $-53
Rent	-10% $-96	-5% $38	+0% $173	+5% $308	+10% $442
Rate	-1.0pp $374	-0.5pp $275	base $173	+0.5pp $69	+1.0pp $-36

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$3,406
Total (2 units)			$3,407

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: $100,000
• Closing costs: $12,000
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-21
   days on market $400,000 Active 6 DOM
2. 2026-06-19
   days on market $400,000 Active 4 DOM
3. 2026-06-18
   days on market $400,000 Active 3 DOM
4. 2026-06-17
   days on market $400,000 Active 2 DOM
5. 2026-06-15
   remarks 699-char remark
6. 2026-06-15
   listed $400,000 Active 1 DOM

ⓘ 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: $3,050 · $254/mo
• Projected year-2 tax: $3,880 · $323/mo
• Expected delta: +$830/yr (+$69/mo · 27.2%)

ⓘ 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 7/10 Severe
• 🌡 Heat 6/10 Major 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 27 unhealthy d/yr today · 30 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,884
• − Mortgage interest: −$22,406
• − Property taxes: −$3,050
• − Insurance: −$2,000
• − Repairs & maintenance: −$3,271
• − Management: −$3,271
• − Depreciation: −$11,636
• Taxable loss: −$4,750
• Est. tax savings @ 24.0%: +$1,140
• After-tax cash flow: $3,217/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: Phoenix-Talent SD 4
• NCES district ID: 4109630
• Math proficiency: 14% ▼ -9.00%
• Reading proficiency: 32% ▼ -8.00%
• Median HH income: $38,625
• Composite: 19.24/100
• National rank: #8809
• State rank: #58 of 58 in OR

Livability — Phoenix

• Score: 83/100
• State rank: #38
• US rank: #884

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Phoenix, OR
• City population: 4,766
• Population (ZIP): 4,766

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 234,433 people
• By 2030: 243,834 · +4.0%
• By 2040: 259,717 · +10.8%
• By 2050: 273,269 · +16.6%
• By 2075: 300,624 · +28.2%
• By 2100: 305,256 · +30.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 13% Two or more races 6%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Italian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 90% English-only · Spanish 8% Russian/Polish/Slavic 1%

Political lean MEDSL · Jackson

• 2024 margin: Lean R (+6.4) · D 45.5% · R 51.9% · Other 2.6%
• 2008→2024 swing: -6.5pp toward R · 2008: 0.1pp · 2024: -6.4pp
• All cycles: 2024: R+6.4 2020: R+3.5 2016: R+9.2 2012: R+5.0 2008: D+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -94.62%
• Current HPI: 262.1708
• 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

+493.3% since first listed

5 events — show timeline

• 2026-06-15 Listed $400,000 MLSCO
• 1991-06-05 Sold (Public Records) $70,500 Public Records
• 1989-11-07 Sold (Public Records) $69,000 Public Records
• 1983-09-23 Sold (Public Records) $75,000 Public Records
• 1983-05-09 Sold (Public Records) $67,420 Public Records

Property tax history

+3.0%/yr

Latest (2025): $3,050 · +2.4% YoY. Source: county tax records.