597 NE Union Loop E-Book

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597 NE Union Loop

HEY, WE’RE TEAM RHODEN Real Estate begins with property, but it doesn’t end there. Our mission is to create lifelong relationships.

We believe that working hard at something you love to do, with people you trust, is one of the greatest experiences in life.

We offer extensive real estate knowledge and unsurpassed experience as one of the area’s top team of brokers with more than 50 years of experience. Well known in the industry for professionalism and loyalty, we have built a solid reputation for putting our clients goals first while bringing a highly personalized approach to each and every transaction.

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WELCOME TO 597 NE UNION LOOP

1772 Square Feet 4 Bedroom/2 Bath Large Corner Lot Fenced Back Yard BEAUTI FUL 4 -BED RO OM , 2 BATHROOM HOME LOCATE D IN THE DESIRABL E I RONHORSE SUBD IVISIO N .

THIS C HARMING S ING L ELEVEL RESID ENC E SITS O N A SPAC IOUS CORNE R LOT, OFFERI NG PLE NTY O F PRIVACY AND CURB APPE A L .

THE OPEN FLO OR PL A N CREATES A WELCO MIN G A ND VERS ATI LE LIVING SPAC E , PERFECT FOR FAMILY G ATHERINGS AND ENTERTAI NI NG . THE L A RG E PRI MARY B ED ROO M FEATURE S AN EXPANS IVE WALK-I N C LOSET, PROVI DING PLENTY O F STORAGE . THE FENCE D BAC KYARD OFFERS A S A F E OUTD OOR AREA FOR KID S AND PETS . CONVENIE N T LY SITUATED C LO SE TO BA RN ES BUT TE ELEMENTARY SC HOOL AND JUST A S H ORT DRIVE TO TOWN, T HI S HO ME COMBINES COM FO RT, CONVENIENCE , AN D COMMUNITY VIBE . DO N' T M ISS THIS OPPORTUN ITY TO MAKE THIS YOUR OWN .

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PROPERTY PROFILE

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MAPS

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CC&RS AND BY-LAWS

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HOA INFORMATION

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MEETING OF THE IRONHORSE HOMEOWNERS’ ASSOCIATION BOARD OF DIRECTORS & TAC MEMBERS September 15, 2025 3:30 p.m.

A meeting of the IronHorse Homeowners’ Association (IHHOA) Board of Directors was held on September 15, 2025, at Brooks Resources Corporation (BRC) & Zoom.

The following directors were present: Jade Mayer and Kirk Schueler Others present included Sheila Perry, BRC Accounting Associate, Meghan Hall, BRC Controller, TAC members: Terri Andreasen, Elaine and Bill Waterbury and Nina Hogue.

1. MINUTES FROM JULY 8, 2025 BOARD MEETING Mr. Mayer motioned to approve the minutes and Mr. Schueler seconded the motion. Motion passed.

2. AUGUST 2025 FINANCIAL STATEMENTS Ms. Hall reviewed the August 2025 financial statements, noting the $50,000 Accounts Payable balance is for the money contributed by Rooted Homes toward dues.

Ms. Perry reviewed the landscape company bids for the 2026 season and requested input from the Board and TAC members on how they would like to proceed. After some discussion, the TAC suggested hiring Newport Ave Landscape. Mr. Mayer moved and Mr. Schueler seconded the motion to hire Newport Ave Landscape. Motion passed.

3. 2026 RESERVE STUDY The Board/TAC discussed the effects of splitting the $50,000 between the Operating and Reserves funds. Ms. Hall initially split the money evenly between the two funds and showed how the $25,000 in the Reserve fund would affect dues over the next 30 years. The Board asked her to update the Reserve Study with a lower amount, with the goal that Reserve dues would not need to increase and the Reserve balance wouldn’t go below $50,000.

Mr. Schueler moved to approve the 2026 Reserve Study, with said change, and Mr. Mayer seconded the motion. Motion passed.

4. 2026 PROPOSED BUDGET Ms. Hall reviewed the 2026 budget, noting nothing significant and no increase in dues. Ms. Perry explained that the Weed Program amount will be updated based on Newport Ave’s bid.

Mr. Mayer moved and Mr. Schueler seconded the motion to approve the 2026 budget as presented. The motion passed.

5. ANNUAL MEETING PRESENTATION Mr. Mayer reviewed the proposed annual meeting presentation, noting no significant changes.

6. FUTURE MEETINGS 

October 14, 2025 @ 3pm – Annual Association Meeting to be held at the Prineville Library

IRONHORSE HOMEOWNERS’ ASSOCIATION, INC. MAINTENANCE PLAN AND RESERVE STUDY 2026

Brooks Resources Corporation Dear Board of Directors, After careful review of the property, component assets and current funding for IronHorse Homeowners’ Association, the following information is available.

Brooks Resources has been commissioned by IronHorse Homeowners’ Association to prepare a Reserve Study.

The purpose of this Reserve Study is to evaluate the common-area components for major repair, maintenance and replacement items that are the responsibility of the IronHorse Homeowners’ Association. This Reserve Study provides a Level 2 limited-scope evaluation of the existing condition and remaining life of the commonarea components. The Reserve Study also includes estimated costs for the major repair, maintenance and replacement items to enable the Association to establish an adequate level of reserve funds for the upkeep of the property.

The community consists of 248 residential units and an affordable senior housing facility that has 40 voting rights. The total number of components included in the Reserve Study is 4. The field inspection was completed on September 26, 2024.

The beginning reserve balance was provided by the Association and is projected to be $62,418 as of January 1, 2026.

In reviewing the projected starting reserve balance for the association of $62,418 for 2026, and to strengthen the reserve fund, we suggest adopting a 3% reserve contribution increase every five years. The 3% reserve contribution increase will help avoid a situation where special assessments, deferred maintenance and lower property values are likely at some point in the future.

Sincerely, Meghan Hall

Disclosure Information This is a Level 2 Reserve Study based upon on-site visual observations done by Brooks Resources Corporation, in accordance with the ORS provisions.

Types of Reserve Studies There are four types of reserve studies under National Reserve Study Standards: ⦁ Level I Full – This is the initial report prepared by the association. This report includes a site visit, in which a non-intrusive basic visual review is conducted, and association assets are counted, measured and/or quantified.

A useful life, remaining useful life and cost allowances are assigned to the association’s assets and a funding plan is developed accordingly. A Full study is typically only prepared once as the quantities and other data can be used in all other reports going forward. ⦁ Level II With-Site-Visit – This report includes a site visit in which a non-intrusive basic visual review is conducted. No assets are quantified as this process was previously completed during the Full study process.

The remaining useful life and cost allowances are updated for the association’s assets and the funding plan is updated accordingly. After the initial full study, most associations perform a with-site-visit report every third year; this cycle is required for associations with significant assets. ⦁ Level III No-Site-Visit – This report does not include a site visit. The remaining useful life and cost allowances are updated for the association’s assets and the funding plan is updated. The No-Site-Visit update is primarily based on the current reserve account balance, projects completed since the last report, current industry costs, and any proposals the association may have received for upcoming projects. ⦁ Level IV Preliminary, Community Not Yet Constructed – This report is prepared for communities that are in the development phase and have not yet been constructed. The component list is typically developed using building and site plans along with details provided by the developer. A useful life, remaining useful life and cost allowances are assigned to the association’s assets and a funding plan is developed accordingly.

General: IronHorse Homeowners Association, Inc. (IHHOA) is a 248-unit residential subdivision, as well as an affordable senior housing facility, located in Prineville, Oregon. Brooks Resources Corporation is the Community Manager for the Association.

Physical Analysis: An onsite visual observation was performed. Destructive testing was not performed. Any items that were not clearly visible at the time of the site observation were not viewed and therefore were not included.

Credentials: Brooks Resources Corporation is the Declarant.

Completeness: Brooks Resources Corporation is not aware of any material issues which would cause a distortion of the association’s reserve analysis.

Scope: This reserve study reflects the information provided to us and cannot be used for the purpose of performing an audit, a quality/forensic analysis, or background checks of historical records.

Reserve Balance: The actual or projected total reserve balance presented in the reserve study is based upon information provided and was not audited.

Reserve Projects: Information provided about reserve projects will be considered reliable. An on-site inspection should not be considered a project audit or quality inspection. Certain costs outlined in the reserve study are subjective and, as a result, are for planning purposes only. The Association should obtain firms bids at the time of work. Actual costs will depend upon the scope of work as defined at the time the repair, replacement or restoration is performed. All estimates relating to future work are good faith estimates and projections are based on the estimated inflation rate, which may or may not prove accurate. All future costs and life expectancies should be reviewed and adjusted annually.

MAINTENANCE PLAN Summary of Maintenance Plan To ensure the maximum useful life and optimum performance of common components, and pursuant to Oregon State Statues Chapters 94 and 100, regular maintenance is necessary.

This maintenance plan describes the maintenance, repair and replacement to be conducted and includes a schedule for the maintenance, repair and replacement. The Board of Directors should review and update the maintenance plan as necessary.

Landscape and Irrigation System The Association will be responsible for the maintenance and upkeep of common area landscape throughout the property. This may include mowing lawns, removal of weeds, pre-emergent application, hand trimming, etc.

Periodic maintenance to the irrigation system should be anticipated. Maintenance procedures include replacement of the control mechanism, replacement of damaged piping, upgrading of sprinkler heads and valve components and backflow testing.

All work on irrigation systems must be performed by licensed contractors who specialize in this type of work.

This expense should be included in the annual operating budget for the Association.

Frequency: Seasonal/Annually Pathways Maintenance of the asphalt pathway includes repairing or replacing any damaged surface areas and routine crack sealing. Pathways should be inspected annually with any cracks identified on an annual basis. If cracks are identified, crack sealing should be performed by a professional prior to allowing any foreign debris to enter the crack. If foreign debris is accumulated within the cracks, cleaning the cracks with high pressure water should be completed prior to crack sealing.

This expense should be included in the annual operating budget for the Association.

Frequency: Every 2 to 4 years

IronHorse Homeowners’ Association Current Assessment Funding Model Summary

Report Date January 1, 2026 Version Reserve Study Budget Year Beginning January 1, 2026 Budget Year Ending December 31, 2026 Total Units

315

Report Parameters Inflation Interest Rate 2.0% Tax Rate on Interest Contingency January 1, 2026 Beg. Balance

Summary of Calculations Required Annual Contribution Annual Interest Earned Total Annual Allocation to Reserves

$7,875 $ 852 $ 8,727

3.0% 0% 0% $62,418

Entrance Monument and Landscaping:

Placed in Service Useful Life Replacement Year Remaining Life

September 24, 2014 30 years 2044 18 years

Asset Cost Percent Replacement Future Cost Assigned Reserves

$107,125 28% $52,089 $30,000

Single faced monument sign with (7) 12” deep 4’ wide corten steel panels. Panels are 1.5” deep fabricated brushed aluminum letters that read “IRONHORSE” with 27” tall fabricated aluminum horse logo. Letters and logo are halo-illuminated with amber led units. Amount represents major repair, replacement and refurbishment of asset. This amount also represents the replacement of the monument landscaping. Initial cost of the asset was $14,125 for the sign (Carlson Sign), $11,000 to furnish and install boulders (Botanical) and $82,000 for landscaping at monument and up Combs Flat (Botanical). Cost and useful life are based on information from Brooks Resources Corporation. The association should obtain a firm bid to confirm this estimate.

Asphalt Pathway in IronHorse II:

Placed in Service Useful Life Replacement Year Remaining Life

January 1, 2007 20 years 2036 10 years

Asset Cost Percent Replacement Future Cost Assigned Reserves

$30,000 100% $40,317 $30,000

Asphalt pathway in IronHorse II. Amount represents major repair, replacement and refurbishment of asset.

Cost and useful life are based on information from Brooks Resources Corporation. The association should obtain a firm bid to confirm this estimate.

Wayfinder Median Landscaping and Irrigation in IronHorse II:

Placed in Service Useful Life Replacement Year Remaining Life

April 1, 2019 10 years 2029 3 years

Asset Cost Percent Replacement Future Cost Assigned Reserves

$5,645 100% $6,214 $5,645

Wayfinder median landscaping and irrigation in IronHorse II. Amount represents major repair, replacement and refurbishment of asset. Cost and useful life are based on information from Brooks Resources Corporation. The association should obtain a firm bid to confirm this estimate.

Sidewalk on Wayfinder:

Placed in Service Useful Life Replacement Year Remaining Life

January 1, 2023 10 years 2033 7 years

Asset Cost Percent Replacement Future Cost Assigned Reserves

$25,000 100% $30,747 $25,000

Sidewalk on Wayfinder in IronHorse II. Amount represents major repair, replacement and refurbishment of asset. Cost and useful life are based on information from Brooks Resources Corporation and a quote obtained in September of 2022. The association should obtain a firm bid to confirm this estimate.

SELLERS DISCLOSURES

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TESTIMONIALS M Y HU SB AN D AN D I L OVE RACHE L. SHE I S A W ESO ME T O W ORK WIT H. MAK E S T HIN GS EA SY AN D SM OOTH . G OE S WA Y ABOVE AN D B EYON D TO HELP IN ANYWAY SHE CA N. SH E I S AM AZI NG !

K ENZ IE M AD E THE PROC E SS OF BU YING OUR HOM E A SMOO TH ON E. SHE L IST EN ED T O OUR NEE D S A ND IS V ERY H AR D WOR K ING AND D E DI CATED . SHE WEN T A B OVE AND BE YON D A T ALL TI ME S. SH E AL WA YS SHOWE D UP NO MAT TER W HA T. HER POSITIV E AT TI TU DE AND ENT HU SI AS M FROM BE GIN NIN G UN TIL T HE E N D O F T HE PROCE SS NEV ER WA VER E D . W E H AD A WON DE R EX PE R IENCE WORK ING WI TH KE NZIE . WE WI LL DEFI NIT ELY C HOO SE TO WORK W ITH KENZ I E A GAIN F OR O UR RE AL E STATE N E EDS.

V ER Y VER Y HEL PFU L AND A LOT OF KNOW LED GE ABOUT THE BUYI NG AND SE LLI N G W O R LD . ALWAYS SE EM S T O BE T HER E W H E N YOU NEE D HE R. VE RY PR OFESSI O NA L!! H EL PE D TH ROUG H T HE WHOL E P R O CE SS F ROM ST ART TO FI NISH A ND WEN T A BO VE AN D BEYO ND TO MAK E SU R E I T WE NT WE LL .

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