Real Estate Investing in Milton Freewater, Oregon (97813)
Should you buy in 97813 (Milton Freewater, OR)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 12.1% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 25.3 — hard to cash-flow at these prices.
What’s happening in Milton Freewater, OR (97813)?
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Market Analysis: 97813 Milton Freewater
The 97813 ZIP in Milton Freewater, OR is a local-operator market. Outside capital chasing a $290K entry has to pair deep knowledge with the discount.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 97813 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
In the broader OR picture, 97813 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Resident income in 97813 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
The 97813 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Milton Freewater:
Market Trends
Home Value History (with trend line)
📊 How Does 97813 Compare?
| Metric | 97813 | Milton Freewater | Hermiston-Pendleton, OR | Oregon |
|---|---|---|---|---|
| Home Value | $289,600 | $300,037 | N/A | $493,884 |
| 5-Year CAGR | 6.7% | 6.3% | N/A | 4.9% |
| Avg Rent | $954 | $972 | N/A | - |
| Cap Rate | 2.6% | 2.5% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 97813 (Milton Freewater, OR). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $289,600 |
| Monthly Rent | $954 |
| Price-to-Rent | 25.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.0% |
| Cap Rate | 2.6% |
| 5-Year IRR | 9.2% |
📈 Home Appreciation
| 1-Year | +3.3% ▲ |
| 3-Year CAGR | +3.7% ▲ |
| 5-Year CAGR | +6.7% ▲ |
| 10-Year CAGR | +7.2% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.5%) exceeds the estimated cap rate (2.6%). 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 97813
Population: 1,366
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 97813
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
What are home prices like in Milton Freewater, OR?
The median home value in Milton Freewater, OR is roughly $290K. That puts it reasonable relative to the OR statewide average.
How deep is the rental pool in Milton Freewater, OR?
Expect a solid tenant pool in Milton Freewater, OR. The rental market absorbs $954/mo rents without meaningful friction.
How much do tenants pay in Milton Freewater, OR?
Rent in Milton Freewater, OR is around $954/mo. The resulting rent-to-value relationship with $290K pricing is reasonable for most investor models.
What is it like being a landlord in Milton Freewater, OR?
OR ranks as a landlord-friendly state for landlord-tenant law. Milton Freewater generally follows the statewide framework, so landlords face reasonable operating rules.
Is Milton Freewater, OR a good place for real estate investing?
Milton Freewater, OR stands at an investability rating of 3.0/5, with median home values near $290K and average rents around $954/mo. That combination puts it in the resilient tier for investor interest.
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