Real Estate Investing in Enterprise, Oregon (97828)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 97828 (Enterprise, OR)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 17.2% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 39.7 — 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 Enterprise, OR (97828)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 97828 Enterprise
Not every below-median market is a bargain. Enterprise's 97828 ZIP comes in at signals that favor experienced operators who can absorb the risk $429K pricing implies.
The 97828 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Nearby ZIPs in Enterprise have seen price recovery that 97828 has not matched. Wallowa County data supports the view that the spread is structural rather than temporary.
From an investor standpoint, 3,369 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Strategically, 97828 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Enterprise:
Property Strategy for 97828
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $315,865 | $1,000 | 2.3% | +8.5% | $157,933 |
| 3BR | $423,550 | $1,390 | 2.4% | +7.3% | $141,183 |
| 4BR | $480,589 | $1,680 | 2.5% | +7.0% | $120,147 |
Market Trends
Home Value History (with trend line)
📊 How Does 97828 Compare?
| Metric | 97828 | Enterprise | Oregon |
|---|---|---|---|
| Home Value | $428,846 | $381,979 | $493,884 |
| 5-Year CAGR | 4.5% | 4.7% | 4.9% |
| Avg Rent | $900 | $936 | - |
| Cap Rate | 1.6% | 2.0% | - |
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 97828 (Enterprise, OR). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $428,846 |
| Monthly Rent | $900 |
| Price-to-Rent | 39.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.5% |
| Cap Rate | 1.6% |
| 5-Year IRR | 6.1% |
📈 Home Appreciation
| 1-Year | +2.3% ▲ |
| 3-Year CAGR | +3.0% ▲ |
| 5-Year CAGR | +4.5% ▲ |
| 10-Year CAGR | +7.8% ▲ |
🏠 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 (1.6%). 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 97828
Population: 3,369
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 97828
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
Is Enterprise, OR a smart market for rental property?
Enterprise, OR scores 3.0/5 for investability. Home values sit at $429K and rents near $900/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
What are rental rates like in Enterprise, OR?
The typical rental in Enterprise, OR commands about $900/mo monthly. That rent profile consistent cash flow against the $429K purchase basis.
How do home values compare in Enterprise, OR?
Expect median prices around $429K in Enterprise, OR. The market has run at a 0.0% 5-year CAGR, so entry costs have been reliable.
What kind of vacancy should I budget for in Enterprise, OR?
Enterprise, OR sees elevated vacancy, which is reasonable relative to the broader OR rental market.
Which investment style suits Enterprise, OR?
The best-fit strategy in Enterprise, OR is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
You know 97828 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 97828 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.
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