70822 SW Douglas Dr

Green Meadows, OR 97801

$209,000D+

3 bd · 2.0 ba · 1,536 sqft · Built 1977 · Manufactured · Active · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,702/mo
• Mortgage (P&I): −$1,096
• Tax + insurance: −$177
• HOA: −$0
• Vac / Maint / Mgmt: −$357
• Net cashflow: $72/mo
• Annual: $861/yr
• Cap rate: 6.70%
• Cash-on-cash: 1.47%
• DSCR: 1.07
• 1% rule: 0.81%
• Cash to close: $58,520

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $209k.
• At list price, monthly cash flow is $72 ($861/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (18.6% below list).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $170k (18.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Pendleton SD 16 (town): math 27% / reading 43% proficiency, ranked #24 of 58 in OR (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mckay Creek Elementary School (math 54% / reading 54%, grade C, #79 of 412 statewide, top 21%, 246 students, 65% FRL); Sunridge Middle School (math 28% / reading 43%, grade F, #59 of 128 statewide, top 46%, 637 students, 65% FRL); Pendleton High School (math 22% / reading 62%, grade F, #67 of 143 statewide, top 46%, 795 students, 73% FRL) — zoned schools average 68% FRL vs 44% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-2.7%/yr); 139 active listings in the ZIP; 205 units permitted in Umatilla County in 2024 (0 in 5+ unit buildings).
• Umatilla County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.