110 Charlene Ln

Lookingglass, OR 97481

$95,000B

3 bd · 2.0 ba · 1,512 sqft · Built 1988 · Manufactured · Active · 15 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,462/mo
• Mortgage (P&I): −$498
• Tax + insurance: −$265
• HOA: −$0
• Vac / Maint / Mgmt: −$307
• Net cashflow: $392/mo
• Annual: $4,700/yr
• Cap rate: 11.24%
• Cash-on-cash: 17.67%
• DSCR: 1.79
• 1% rule: 1.54%
• Cash to close: $26,600

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $95k.
• At list price, monthly cash flow is $392 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• It's been on market 15 days — a 2% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $94k (1.5% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($657 loan paydown + $3k appreciation (3.0% local appreciation)).
• Location reads 55/100 on livability (#328 in OR) — a working-class tenant base; expect higher turnover. Watch: health & safety C-, crime D+, amenities F.
• Winston-Dillard SD 116 (rural): math 18% / reading 29% proficiency, ranked #56 of 58 in OR (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Brockway Elementary School (math 27% / reading 27%, grade F, #301 of 412 statewide, top 74%, 237 students, 82% FRL); Winston Middle School (math 17% / reading 32%, grade F, #108 of 128 statewide, top 89%, 309 students, 67% FRL); Douglas High School (math 30% / reading 50%, grade F, #69 of 143 statewide, top 54%, 393 students, 67% FRL) — zoned schools average 72% FRL vs 56% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: property tax is 2.8% of price.
• Market conditions: 3 active listings in the ZIP; 190 units permitted in Douglas County in 2024 (0 in 5+ unit buildings).
• Douglas County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.
• 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.
• 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.