3096 Rainbow Lp · Hubbard, OR 97032

$69,900

2 bd · 1.0 ba · 784 sqft · Manufactured · 84 Days on market

Built 1973 Good condition $89/sqft · 17% above area Est $60k · 17% over ↓ 13% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Hoodview Mobile Estates in a wonderful 55+ park. This 1973 single wide has been well maintained and updated. 784 square feet,2 bedrooms, 1 bath, new triple pane vinyl windows, new peaked membrane roof, aluminum siding, fully insulated floor, cute covered front porch, cozy kitchen with butcher block countertops, range, refrigerator, portable dishwasher. Kitchen, hall and bathroom has new plank hardwood flooring. Washing machine and dryer included. Space rent $825/mo. Buyer must be approved by park. Park application and background check required. 55+ park. Pet policy, 2 indoor only cats or 1 dog. Dog has size/breed restrictions. Clubhouse has pool table, 2 full bathrooms including showers, coin laundry and signup calendar for private use. Home has a mini-split unit for heating and cooling and a furnace for backup.

Key facts

• Aluminum siding
• 2 garage spots
• Built 1973

Tags

• NEW TRIPLE PANE VINYL WINDOWS
• NEW PEAKED MEMBRANE ROOF
• ALUMINUM SIDING
• FULLY INSULATED FLOOR
• BUTCHER BLOCK COUNTERTOPS
• NEW PLANK HARDWOOD FLOORING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $70k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $837 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $66k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 80/100 on livability (#57 in OR, #1,930 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: cost of living C-, schools D+, health & safety D+.
• North Marion SD 15 (rural): math 27% / reading 43% proficiency, ranked #131 of 183 in OR (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 20 active listings in the ZIP; 1,591 units permitted in Marion County in 2024 (716 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Marion County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.

Recommended offer $65,706 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 2.39% ✓
• Cap rate: 20.65%
• Cash-on-cash: 51.29%
• DSCR: 3.28
• GRM: 3.5

CMA / ARV

• ARV (median comp): $59,611
• List price: $69,900
• Delta: 17.26%
• Verdict: OVERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3578 Ash St	0.44mi	2/1.0	672 (-14%)	17mo	$55,000	$82	41

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: 49.2%
• Equity multiple: 3.14×
• Total profit: $41,981
• Equity at exit: $10,422

10-year hold

• IRR: 54.7%
• Equity multiple: 6.38×
• Total profit: $105,268
• Equity at exit: $6,044

Cash invested: $19,572 (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 97032

• Home prices YoY: -27.9%
• Active inventory: 20
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,670 medium
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$87 /mo · $1,048/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $837

Break-even live

Break-even rent $611

Max offer price $69,900

Occupancy floor 45%

Sensitivity live

Price	-10% $885	-5% $861	+0% $837	+5% $812	+10% $788
Rent	-10% $705	-5% $771	+0% $837	+5% $903	+10% $969
Rate	-1.0pp $872	-0.5pp $854	base $837	+0.5pp $818	+1.0pp $800

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $69,900 Active 84 DOM
2. 2026-06-17
   days on market $69,900 Active 83 DOM
3. 2026-06-16
   days on market $69,900 Active 82 DOM
4. 2026-06-15
   days on market $69,900 Active 81 DOM
5. 2026-06-13
   days on market $69,900 Active 79 DOM
6. 2026-06-13
   days on market $69,900 Active 78 DOM
7. 2026-06-09
   days on market $69,900 Active 75 DOM
8. 2026-06-08
   days on market $69,900 Active 74 DOM
9. 2026-06-07
   days on market $69,900 Active 73 DOM
10. 2026-06-03
    days on market $69,900 Active 69 DOM
11. 2026-06-02
    days on market $69,900 Active 68 DOM
12. 2026-06-01
    days on market $69,900 Active 67 DOM
13. 2026-05-31
    days on market $69,900 Active 66 DOM
14. 2026-04-25
    price $69,900 823-char remark

    Show marketing remark (823 chars)

    Hoodview Mobile Estates in a wonderful 55+ park. This 1973 single wide has been well maintained and updated. 784 square feet,2 bedrooms, 1 bath, new triple pane vinyl windows, new peaked membrane roof, aluminum siding, fully insulated floor, cute covered front porch, cozy kitchen with butcher block countertops, range, refrigerator, portable dishwasher. Kitchen, hall and bathroom has new plank hardwood flooring. Washing machine and dryer included. Space rent $825/mo. Buyer must be approved by park. Park application and background check required. 55+ park. Pet policy, 2 indoor only cats or 1 dog. Dog has size/breed restrictions. Clubhouse has pool table, 2 full bathrooms including showers, coin laundry and signup calendar for private use. Home has a mini-split unit for heating and cooling and a furnace for backup.

15. 2026-04-02
    price $74,900 823-char remark

    Show marketing remark (823 chars)

    Hoodview Mobile Estates in a wonderful 55+ park. This 1973 single wide has been well maintained and updated. 784 square feet,2 bedrooms, 1 bath, new triple pane vinyl windows, new peaked membrane roof, aluminum siding, fully insulated floor, cute covered front porch, cozy kitchen with butcher block countertops, range, refrigerator, portable dishwasher. Kitchen, hall and bathroom has new plank hardwood flooring. Washing machine and dryer included. Space rent $825/mo. Buyer must be approved by park. Park application and background check required. 55+ park. Pet policy, 2 indoor only cats or 1 dog. Dog has size/breed restrictions. Clubhouse has pool table, 2 full bathrooms including showers, coin laundry and signup calendar for private use. Home has a mini-split unit for heating and cooling and a furnace for backup.

16. 2026-03-26
    listed $79,900 Active 823-char remark

    Show marketing remark (823 chars)

    Hoodview Mobile Estates in a wonderful 55+ park. This 1973 single wide has been well maintained and updated. 784 square feet,2 bedrooms, 1 bath, new triple pane vinyl windows, new peaked membrane roof, aluminum siding, fully insulated floor, cute covered front porch, cozy kitchen with butcher block countertops, range, refrigerator, portable dishwasher. Kitchen, hall and bathroom has new plank hardwood flooring. Washing machine and dryer included. Space rent $825/mo. Buyer must be approved by park. Park application and background check required. 55+ park. Pet policy, 2 indoor only cats or 1 dog. Dog has size/breed restrictions. Clubhouse has pool table, 2 full bathrooms including showers, coin laundry and signup calendar for private use. Home has a mini-split unit for heating and cooling and a furnace for backup.

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥91°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 13 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,045
• − Mortgage interest: −$3,915
• − Property taxes: −$1,048
• − Insurance: −$350
• − Repairs & maintenance: −$1,604
• − Management: −$1,604
• − Depreciation: −$2,033
• Taxable income: $9,491
• Est. tax owed @ 24.0%: −$2,278
• After-tax cash flow: $7,761/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This 1973 single-wide mobile home in Hoodview Mobile Estates is well-maintained and updated, with new flooring and windows. It's in good condition and ready for a new owner.

Value-add opportunities

• Both paint exterior — Enhances curb appeal and resale value
• Both replace air conditioning unit — Improves comfort and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both paint exterior — Enhances curb appeal and resale value ↑
• Both replace air conditioning unit — Improves comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: North Marion SD 15
• NCES district ID: 4108880
• Math proficiency: 27% ▬ 0.00%
• Reading proficiency: 43% ▼ -6.00%
• Median HH income: $55,867
• Composite: 33.51/100
• National rank: #10515
• State rank: #131 of 183 in OR

Livability — Hubbard

• Score: 80/100
• State rank: #57
• US rank: #1930

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hubbard, OR
• Population (ZIP): 4,810

Population outlook (Marion County) Hauer SSP2

• Today (2025): 360,940 people
• By 2030: 375,178 · +3.9%
• By 2040: 400,914 · +11.1%
• By 2050: 422,187 · +17.0%
• By 2075: 460,305 · +27.5%
• By 2100: 464,025 · +28.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 33% Two or more races 7% Native American 4%
• Hispanic origin (detail): Mexican 31%
• Common ancestry: Italian 5% Scotch-Irish 5% Slovak 4%
• Foreign-born: 9% · Canada, Dominican Republic
• Languages at home: 79% English-only · Spanish 19% Other Asian/Pacific 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Marion

• 2024 margin: Toss-up / Even · D 47.5% · R 49.5% · Other 3.0%
• 2008→2024 swing: -4.2pp toward R · 2008: 2.2pp · 2024: -2.0pp
• All cycles: 2024: R+2.0 2020: D+1.1 2016: R+5.0 2012: R+3.5 2008: D+2.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -112.22%
• Current HPI: 289.9111
• 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

-12.5% since first listed

3 events — show timeline

• 2026-04-25 Price Changed $69,900 WVMLS
• 2026-04-02 Price Changed $74,900 WVMLS
• 2026-03-26 Listed $79,900 WVMLS