Linn County warrants investigation but cautious underwriting where current rent support, rather than rapid resale appreciation, is the thesis. Zillow county 2026-06 reports a $414,301 median home value and $1,639 monthly median asking rent. FHFA annual 2025 shows its repeat-transaction HPI up 2.23% and 44.84% cumulatively over five years. That confirms prior index appreciation, but it is not a home value and cannot be averaged with Zillow because the methods and observation periods differ.
The supplied 4.75% gross yield uses market rent before costs, so it is not a net-return measure. An effective property-tax rate of 0.87% and median annual tax of $3,261 frame carrying costs, but neither establishes the bill for a particular parcel. HUD’s $1,695 two-bedroom FMR is a payment standard, not an asking-rent estimate; the published market asking rent is 96.70% of it. FMR should not substitute for market rent in yield work.
Realtor.com’s 2026-06 MLS listing-market evidence is cautious: median listing price was down 3.12%, active listings were 375, and 20.73% had reductions. These are asking-price, visible-supply, and seller-concession measures, not closed sales or standalone proof of buyer demand. QCEW’s 2025 annual covered workplace employment declined while average weekly wage rose; it does not represent resident employment. Net tax-return migration was positive, but arriving households reported lower average income than departing households. Non-occupant mortgages were 4.92% of 1,220 purchases, a limited investor-buyer presence.
Inland flood is the dominant hazard, and modeled annual climate loss equals 0.21% of building value; that county-level model does not establish a property’s flood exposure, insurance terms, or mitigation cost. Missing closed-sale comparables, neighborhood rent dispersion, vacancy, operating and insurance quotes, financing terms, condition, and parcel-level flood data prevent a defensible all-in cash-flow or valuation conclusion.