1809 26th St #12 · La Grande, OR 97850

$154,000

3 bd · 2.0 ba · 1,512 sqft · Manufactured · 364 Days on market

Built 2019 Est $130k · 18% over ↓ 7% since listing

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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 +26.4/30.0
• DSCR +9.0/10.0
• 1% rule +6.2/10.0
• Livability +3.8/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Charming 3-Bedroom Home in Stonewood. Welcome to this beautifully maintained 3-bedroom, 2-bath home nestled in the desirable Stonewood neighborhood. Perfect for both everyday living and entertaining, this home features a private backyard complete with a spacious deck — ideal for gatherings or quiet evenings outdoors. Inside, you'll find a generously sized kitchen with a large island, perfect for cooking and hosting. Two separate living rooms offer flexibility for relaxation. The private and expansive master suite provides a comfortable retreat, while the additional bedrooms are well-suited for family, guests, or office space. Additional highlights include a covered carport and ample p

Key facts

• Private master suite
• Private backyard
• Spacious deck

Tags

• PRIVATE BACKYARD
• SPACIOUS DECK
• GENEROUSLY SIZED KITCHEN
• LARGE ISLAND
• TWO SEPARATE LIVING ROOMS
• PRIVATE MASTER SUITE

Property features AI

Finance

• Other: Lot is paved access; Lot size up to 2,999 sq ft (park lot)
• Financial info: Monthly lot rent of $760; Land lease expires December 31, 2025
• HOA & community: Community trash service; Located in the Stonewood park (land lease)

Exterior

• Parking: Detached carport (1 covered space); Off-street parking
• Utilities: Public water; Public sewer; Electric fuel
• Home design: Manufactured home in a park; Residential property; Single-level; Built in 2019; No notable view
• Construction: Composition roof; Pillar/post/pier foundation with skirting
• Exterior features: Deck; Yard; Panel exterior

Interior

• Kitchen: Island; Pantry; Dishwasher; Free-standing range; Free-standing refrigerator
• Bedrooms: Primary bedroom (main level); Second bedroom; Third bedroom
• Flooring: Vinyl window frames
• Bathrooms: Two full bathrooms (both on main level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Main-floor bedroom with bath and minimal steps (accessible); One-level layout; Utility room on main; Walk-in shower; Vaulted ceilings; Laundry
• Laundry & utility: Laundry area; Electric hot water

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $154k.

Deal economics

• At list price, monthly cash flow is $401 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $154k).
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 2.9% in La Grande — 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 (#74 in OR, #3,311 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, commute F, employment F.
• La Grande SD 1 (town): math 24% / reading 50% proficiency, ranked #23 of 58 in OR (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Island City Elementary School (math 24% / reading 64%, grade F, #143 of 412 statewide, top 38%, 286 students, 64% FRL); La Grande Middle School (math 23% / reading 49%, grade F, #55 of 128 statewide, top 44%, 480 students, 64% FRL); La Grande High School (math 22% / reading 57%, grade F, #78 of 143 statewide, top 58%, 647 students, 64% FRL) — zoned schools average 64% FRL vs 46% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 129 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 38 units permitted in Union County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Union County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $43k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 364 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $16k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $135,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 364 days. Have you received any prior offers? Is the seller open to a 12% 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. 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: 1.12% ✓
• Cap rate: 9.41%
• Cash-on-cash: 11.15%
• DSCR: 1.50
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $130,032
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1809 26th St #21	0.00mi	2/2.0 (-1)	1,456 (-4%)	5mo	$69,000	$47	84
3111 E Q Ave #1	0.17mi	3/2.0	1,493 (-1%)	7mo	$199,900	$134	84
1809 26th St #80	0.00mi	3/2.0	1,440 (-5%)	11mo	$50,000	$35	83
1809 26th St #76	0.00mi	3/2.0	1,512 (0%)	23mo	$130,000	$86	81
1809 26th St #28	0.00mi	3/2.0	1,377 (-9%)	10mo	$115,000	$84	77
3111 E Q Ave #2	0.17mi	3/2.0	1,600 (+6%)	10mo	$199,900	$125	74
1809 26th St #88	0.00mi	3/2.0	1,377 (-9%)	21mo	$103,000	$75	68
1202 25th St	0.65mi	3/2.0	1,404 (-7%)	12mo	$125,000	$89	47
10704 White Birch Ln	0.67mi	3/2.0	1,296 (-14%)	7mo	$294,000	$227	39

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: 0.3%
• Equity multiple: 1.01×
• Total profit: $524
• Equity at exit: $22,962

10-year hold

• IRR: 9.9%
• Equity multiple: 1.77×
• Total profit: $33,170
• Equity at exit: $13,315

Cash invested: $43,120 (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 97850

• Active inventory: 129
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,730 medium
• Mortgage (P&I): −$808
• Tax from tax record: −$95 /mo · $1,137/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $401

Break-even live

Break-even rent $1,223

Max offer price $154,000

Occupancy floor 72%

Sensitivity live

Price	-10% $488	-5% $444	+0% $401	+5% $357	+10% $313
Rent	-10% $264	-5% $332	+0% $401	+5% $469	+10% $537
Rate	-1.0pp $478	-0.5pp $440	base $401	+0.5pp $361	+1.0pp $320

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: $38,500
• Closing costs: $4,620
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10202 White Birch Ln La Grande, OR	3.0	2.0	1213	$2,200	$1.81	3d	1	0.90mi
1001 12th St La Grande, OR	3.0	2.0	1624	$1,650	$1.02	45d	1	1.29mi
303 18th St Unit D La Grande, OR	3.0	1.5	1300	$1,895	$1.46	16d	1	1.36mi
1213 V Ave La Grande, OR	3.0	1.0	1800	$1,400	$0.78	45d	1	1.40mi

Listing history 26 events

1. 2026-06-21
   days on market $154,000 Active 364 DOM
2. 2026-06-19
   days on market $154,000 Active 362 DOM
3. 2026-06-18
   days on market $154,000 Active 361 DOM
4. 2026-06-17
   days on market $154,000 Active 360 DOM
5. 2026-06-16
   days on market $154,000 Active 359 DOM
6. 2026-06-15
   days on market $154,000 Active 358 DOM
7. 2026-06-14
   days on market $154,000 Active 356 DOM
8. 2026-06-12
   days on market $154,000 Active 355 DOM
9. 2026-06-09
   days on market $154,000 Active 352 DOM
10. 2026-06-09
    price $154,000 Active 351 DOM
11. 2026-06-08
    days on market $157,000 Active 351 DOM
12. 2026-06-07
    days on market $157,000 Active 350 DOM
13. 2026-06-07
    days on market $157,000 Active 349 DOM
14. 2026-06-04
    days on market $157,000 Active 346 DOM
15. 2026-06-02
    days on market $157,000 Active 345 DOM
16. 2026-06-01
    days on market $157,000 Active 344 DOM
17. 2026-05-31
    days on market $157,000 Active 343 DOM
18. 2026-05-31
    days on market $157,000 Active 342 DOM
19. 2026-05-23
    status Active
20. 2026-02-06
    historical Active with Bumpable Contingency
21. 2026-01-12
    price $157,000
22. 2026-01-05
    status Active
23. 2025-12-01
    price $160,000
24. 2025-10-29
    price $162,000
25. 2025-08-19
    price $165,000
26. 2025-06-17
    listed $169,500 Active

ⓘ 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: $1,137 · $95/mo
• Projected year-2 tax: $1,494 · $124/mo
• Expected delta: +$357/yr (+$30/mo · 31.4%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X · 18% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 8 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,766
• − Mortgage interest: −$8,626
• − Property taxes: −$1,137
• − Insurance: −$770
• − Repairs & maintenance: −$1,661
• − Management: −$1,661
• − Depreciation: −$4,480
• Taxable income: $2,430
• Est. tax owed @ 24.0%: −$583
• After-tax cash flow: $4,224/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: La Grande SD 1
• NCES district ID: 4107200
• Math proficiency: 24% ▼ -16.00%
• Reading proficiency: 50% ▼ -5.00%
• Median HH income: $41,706
• Composite: 31.11/100
• National rank: #6070
• State rank: #23 of 58 in OR

Livability — La Grande

• Score: 76/100
• State rank: #74
• US rank: #3311

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: La Grande, OR
• County: Union County · 16,903 people
• City population: 16,903
• Metro: La Grande, OR
• Population (ZIP): 16,903
• Household income: $63,421
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 597.0

Population outlook (Union County) Hauer SSP2

• Today (2025): 25,207 people
• By 2030: 24,794 · -1.6%
• By 2040: 23,658 · -6.1%
• By 2050: 22,897 · -9.2%
• By 2075: 20,885 · -17.1%
• By 2100: 17,841 · -29.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 6% Two or more races 5% Pacific Islander 1% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 4% Portuguese 3% Slovak 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 94% English-only · Spanish 3% Other Asian/Pacific 1% Chinese 1%

Political lean MEDSL · Union

• 2024 margin: Solid R (+40.6) · D 28.1% · R 68.7% · Other 3.1%
• 2008→2024 swing: -17.0pp toward R · 2008: -23.6pp · 2024: -40.6pp
• All cycles: 2024: R+40.6 2020: R+40.4 2016: R+41.4 2012: R+30.8 2008: R+23.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -144.50%
• Current HPI: 213.8093
• Rent YoY: —
• Metro: La Grande, 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

-7.4% since first listed

8 events — show timeline

• 2026-05-23 Relisted — RMLS
• 2026-02-06 Contingent — RMLS
• 2026-01-12 Price Changed $157,000 RMLS
• 2026-01-05 Relisted — RMLS
• 2025-12-01 Price Changed $160,000 RMLS
• 2025-10-29 Price Changed $162,000 RMLS
• 2025-08-19 Price Changed $165,000 RMLS
• 2025-06-17 Listed $169,500 RMLS

Property tax history

-28.4%/yr

Latest (2025): $1,137 · +1.1% YoY. Source: county tax records.