Real Estate Investing in Alsea, Oregon (97324)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 97324 (Alsea, OR)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 33.7% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 29.4 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Alsea, OR (97324)?
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Market Analysis: 97324 Alsea
Not every below-median market is a bargain. Alsea's 97324 ZIP records signals that favor experienced operators who can absorb the risk $470K pricing implies.
Distressed markets are won on execution, not on spreadsheets. ZIP 97324 stands at the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Within OR, ZIP 97324 trails on several market indicators that neighboring Benton County submarkets outperform. The gap is real and notable enough to shape underwriting.
Employment concentration in 97324 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
The right play in 97324 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Alsea:
Market Trends
Home Value History (with trend line)
📊 How Does 97324 Compare?
| Metric | 97324 | Alsea | Corvallis, OR | Oregon |
|---|---|---|---|---|
| Home Value | $469,868 | $469,868 | N/A | $493,884 |
| 5-Year CAGR | 2.5% | 2.5% | N/A | 4.9% |
| Avg Rent | $1,332 | $1,332 | N/A | - |
| Cap Rate | 2.2% | 2.2% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 97324 (Alsea, OR). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $469,868 |
| Monthly Rent | $1,332 |
| Price-to-Rent | 29.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.4% |
| Cap Rate | 2.2% |
| 5-Year IRR | 4.8% |
📈 Home Appreciation
| 1-Year | +1.5% ▲ |
| 3-Year CAGR | +0.0% ▲ |
| 5-Year CAGR | +2.5% ▲ |
| 10-Year CAGR | +6.1% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.2%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 97324
Population: 1,129
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 97324
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
Frequently Asked Questions
Are homes affordable in Alsea, OR?
Typical homes in Alsea, OR go for around $470K. The 5-year CAGR of 0.0% even-keeled price movement.
What is the typical vacancy rate in Alsea, OR?
Rental vacancy in Alsea, OR is elevated. Investors should budget normal turnover but not chronic empty units.
How landlord-friendly is Alsea, OR?
OR law landlord-friendly for landlords, and Alsea inherits those rules. Investors should still review local ordinances for rental licensing.
Is house hacking profitable in Alsea, OR?
The a challenging house-hack environment in Alsea, OR reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
What is the renter demographic in Alsea, OR?
Tenant demand in Alsea, OR is solid. The local workforce $1,332/mo rents across most rental classes.
You know 97324 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 97324 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 97324 ranks in Corvallis, OR
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