Real Estate Investing in Sheridan, Oregon (97378)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 97378 (Sheridan, OR)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Sheridan, OR (97378)?
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Market Analysis: 97378 Sheridan
On balance, ZIP 97378 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $401K median. It rewards specialists, not generalists.
The 97378 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Regionally, 97378 sits on the difficult end of the OR spectrum. The worth a close look for read — for disciplined operators — is that pricing reflects the difficulty.
The 97378 ZIP's population of 9,613 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that clocks in at the need for careful underwriting.
Strategy in 97378 is an operator game, not a passive one. Turning to rents, entry prices of $401K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Sheridan:
Property Strategy for 97378
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $326,913 | $1,800 | 4.0% | +6.8% | $163,457 |
| 3BR | $384,732 | $2,470 | 4.6% | +6.1% | $128,244 |
| 4BR | $452,363 | $2,900 | 4.6% | +6.1% | $113,091 |
Market Trends
Home Value History (with trend line)
📊 How Does 97378 Compare?
| Metric | 97378 | Sheridan | Oregon |
|---|---|---|---|
| Home Value | $400,978 | $400,978 | $493,884 |
| 5-Year CAGR | 2.8% | 2.8% | 4.9% |
| Avg Rent | $1,620 | $1,620 | - |
| Cap Rate | 3.2% | 3.2% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 97378 (Sheridan, OR). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $400,978 |
| Monthly Rent | $1,620 |
| Price-to-Rent | 20.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.9% |
| Cap Rate | 3.2% |
| 5-Year IRR | 6.0% |
📈 Home Appreciation
| 1-Year | +1.7% ▲ |
| 3-Year CAGR | +2.1% ▲ |
| 5-Year CAGR | +2.8% ▲ |
| 10-Year CAGR | +7.4% ▲ |
🏠 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 (3.2%). 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 97378
Population: 9,613
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 97378
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.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
What is the typical home price in Sheridan, OR?
The median home value in Sheridan, OR is roughly $401K. That puts it reasonable relative to the OR statewide average.
Is Sheridan, OR a smart market for rental property?
Sheridan, OR reports an investability rating of 3.0/5, with median home values near $401K and average rents around $1,620/mo. That combination puts it in the healthy tier for investor interest.
Are renters plentiful in Sheridan, OR?
Expect a solid tenant pool in Sheridan, OR. The rental market absorbs $1,620/mo rents without meaningful friction.
Is Sheridan, OR landlord-friendly?
Landlord-friendliness in Sheridan, OR is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
What kind of vacancy should I budget for in Sheridan, OR?
Rental vacancy in Sheridan, OR is elevated. Investors should budget normal turnover but not chronic empty units.
You know 97378 now. You don’t know where it ranks.
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How 97378 ranks in Portland-Vancouver-Hillsboro, OR-WA
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