There is strong economic development because it is the state capital which drives demand for housing.

This helps you identify which factors drive the best returns and make confident, informed decisions.It’s also important to test your numbers with scenarios like higher vacancies, unexpected expenses, interest rate changes, or rent adjustments over the years.

Police drive by occasionally and see 3-4 people standing outside smoking. 

I'm a stucco contractor here in the Bay area and dont make too much money because of 15 employees, however I drive for Lyft a couple hours a day and believe it or not that got my my first rental last November.

LTR Backup Plan: I want to ensure that if the STR route doesn’t pan out, the property could sustain itself as a long-term rental (LTR).

I would think about having a local broker/agent give you a BPO on it and see what the number comes back in at..Think this might be where Chris was going, but depending on your area and what sales look like in the end of the year months, usually sales are a lot slower, that might be a driving factor.

These numbers sound decent but whats the condition of the property and is the $925/month rent sustainable for the neighborhood?

I picked an area that was driving distance from where I live (within fours hours or less), but you could pick something further. 

Eugene could be a great choice for STRs with the university driving consistent demand with college kids + family, and Portland offers year-round potential with its already strong market for both MTR and STR.

If your priority is building wealth sustainably and positioning yourself for long-term financial independence, I’d strongly recommend considering properties like duplexes, triplexes, or even quadplexes.