4789 Rhododendron Loop · Heceta Beach, OR 97439

$146,900

3 bd · 1.5 ba · 924 sqft · Manufactured public records · 3 Days on market

Built 1978 0.48 ac lot Est $233k · 37% under

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +25.7/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +8.6/10.0
• 1% rule +6.8/10.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Opportunity awaits on this spacious 0.48-acre lot in a desirable beach area! Enjoy coastal living with plenty of outdoor space, complete with a fire pit for relaxing evenings and room for all your toys—RV, boat, or extra parking. The property features a wheelchair accessible ramp to the 1978 singlewide 924 sq ft manufactured home offering 3 bedrooms and 1.5 baths, including a convenient Jack & Jill half bathroom between the second and third bedrooms. Interior highlights include wall-to-wall carpet throughout with vinyl flooring in the kitchen and bathrooms. This home is a fixer-upper with great potential—perfect for investors, weekend retreat seekers, or buyers looking to

Key facts

• 0.48 acre lot
• Garage
• Built 1978

Property features AI

Finance

• Other: Lot is level and private; Paved road access; Lot approximately 0.48 acres; Zoning: RA/MH/U; No land lease

Exterior

• Parking: Off-street parking; RV access/parking; Carport (1 space, counted as 1 parking total)
• Utilities: Public water; Septic tank sewer; Electricity for fuel and hot water
• Home design: Manufactured home on owned land; Residential property; Single-story (main level living)
• Construction: Built in 1978
• Exterior features: Covered deck; RV parking; Metal siding

Interior

• Kitchen: Eat bar; Eating area; Pantry; Free-standing refrigerator; Vinyl floor in kitchen
• Bedrooms: Primary bedroom on main level with built-in features and wall-to-wall carpet; Second bedroom on main level with built-in features and wall-to-wall carpet; Third bedroom on main level with built-in features and wall-to-wall carpet
• Flooring: Vinyl flooring; Wall-to-wall carpet
• Bathrooms: 1 full bathroom; 1 partial bathroom (total 2 baths / 1.1 on main level)
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Ceiling fan(s); Laundry area; Vinyl flooring; Wall-to-wall carpet; Aluminum window frames; Accessible approach with ramp; Minimal steps
• Laundry & utility: Laundry on main level; Electric hot water

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath manufactured listed at $147k.

Deal economics

• At list price, monthly cash flow is $352 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $147k).
• Cap rate 9.2% vs local median 1.9% in Heceta Beach — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Siuslaw SD 97J (town): math 33% / reading 50% proficiency, ranked #106 of 183 in OR (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Siuslaw Elementary School (math 22% / reading 37%, grade F, #263 of 412 statewide, top 68%, 520 students, 68% FRL); Siuslaw Middle School (math 15% / reading 37%, grade F, #101 of 128 statewide, top 80%, 270 students, 68% FRL); Siuslaw High School (math 24% / reading 75%, grade D+, #32 of 143 statewide, top 34%, 459 students, 68% FRL).
• Market conditions: 416 active listings in the ZIP; 1,808 units permitted in Lane County in 2024 (972 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Lane County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $146,900

Questions for the listing agent

1. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
4. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
5. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.18% ✓
• Cap rate: 9.17%
• Cash-on-cash: 10.27%
• DSCR: 1.46
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $232,848
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4849 Seapine Dr	0.39mi	2/1.0 (-1)	924 (0%)	16mo	$210,000	$227	62
4823 Rhododendron Loop	0.15mi	2/1.0 (-1)	973 (+5%)	21mo	$245,000	$252	60
4629 Heceta St	0.69mi	2/1.0 (-1)	918 (-1%)	13mo	$295,000	$321	48

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 31.8%
• Equity multiple: 3.49×
• Total profit: $102,459
• Equity at exit: $132,339

10-year hold

• IRR: 27.5%
• Equity multiple: 7.91×
• Total profit: $284,141
• Equity at exit: $285,394

Cash invested: $41,132 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 28 Tenant-Leaning
• State Oregon: 28 Tenant-Leaning · D+6
• County: — inherits STATE
• City: — inherits STATE

SB608 (2019): statewide rent cap (7% + CPI) and just-cause for tenancies > 1 yr. Portland has relocation assistance ordinance.

Methodology + full state rankings →

ZIP-level market 97439

• Home prices YoY: 2.5%
• Active inventory: 416
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,731 medium
• Mortgage (P&I): −$770
• Tax est. 1.5%: −$184 /mo · $2,204/yr
• Insurance: −$61
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $352

Break-even live

Break-even rent $1,285

Max offer price $146,900

Occupancy floor 75%

Sensitivity live

Price	-10% $454	-5% $403	+0% $352	+5% $301	+10% $251
Rent	-10% $215	-5% $284	+0% $352	+5% $420	+10% $489
Rate	-1.0pp $426	-0.5pp $389	base $352	+0.5pp $314	+1.0pp $275

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $36,725
• Closing costs: $4,407
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-17
   status $146,900 Pending 3 DOM
2. 2026-06-16
   days on market $146,900 Active 3 DOM
3. 2026-06-15
   days on market $146,900 Active 2 DOM
4. 2026-06-14
   remarks 683-char remark
5. 2026-06-14
   listed $146,900 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥75°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,769
• − Mortgage interest: −$8,229
• − Property taxes: −$2,204
• − Insurance: −$734
• − Repairs & maintenance: −$1,662
• − Management: −$1,662
• − Depreciation: −$4,273
• Taxable income: $2,006
• Est. tax owed @ 24.0%: −$481
• After-tax cash flow: $3,744/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Siuslaw SD 97J
• NCES district ID: 4105100
• Math proficiency: 33% ▼ -3.00%
• Reading proficiency: 50% ▼ -2.00%
• Median HH income: $36,892
• Composite: 36.82/100
• National rank: #9169
• State rank: #106 of 183 in OR

Livability — Heceta Beach

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Heceta Beach, OR
• Population (ZIP): 15,643

Population outlook (Lane County) Hauer SSP2

• Today (2025): 391,933 people
• By 2030: 405,860 · +3.6%
• By 2040: 429,386 · +9.6%
• By 2050: 452,016 · +15.3%
• By 2075: 508,825 · +29.8%
• By 2100: 531,208 · +35.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 5% Two or more races 5% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 4% Portuguese 3% Slovak 3%
• Foreign-born: 5% · Canada, China
• Languages at home: 96% English-only · Spanish 1% German/W. Germanic 1% Other Asian/Pacific 1%

Political lean MEDSL · Lane

• 2024 margin: Strong D (+23.1) · D 60.0% · R 36.9% · Other 3.1%
• 2008→2024 swing: -4.3pp toward R · 2008: 27.4pp · 2024: 23.1pp
• All cycles: 2024: D+23.1 2020: D+24.3 2016: D+18.9 2012: D+23.4 2008: D+27.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 17.79%
• Current HPI: 717.84
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.05%
• F500 in state: 2

Industry mix (Fortune 500 HQ in OR)

Industry	F500 HQs	Revenue
▸Consumer Goods	1	$51B

Price history

1 event — show timeline

• 2026-06-13 Listed $146,900 RMLS

Property tax history

+3.6%/yr

Latest (2025): $204 · +3.0% YoY. Source: county tax records.