87860 Territorial Rd #102 · Veneta, OR 97487

$82,000

2 bd · 1.5 ba · 938 sqft · Manufactured public records · 332 Days on market

Built 1991 $87/sqft · 16% below area Est $98k · 16% 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 +30.0/30.0
• ARV discount +14.7/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don't miss this well-maintained 2-bedroom, 2-bathroom single wide located in the highly sought-after Shalimar Mobile Home Park in the heart of Veneta with only $488 space rent! Featuring updated flooring, fresh interior paint, a new walk-in shower, and a covered wheelchair-accessible ramp for added comfort and convenience. Ideally situated close to local schools, parks, and all the amenities Veneta has to offer—this home is move-in ready and full of potential!

Key facts

• Close to parks
• New walk-in shower
• Updated flooring

Tags

• UPDATED FLOORING
• NEW WALK-IN SHOWER
• CLOSE TO LOCAL SCHOOLS
• CLOSE TO PARKS
• CLOSE TO AMENITIES

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $82k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $82k).
• Recommended offer: $72k (12.0% below list) — sets the bar for market timing.
• Cap rate 24.5% vs local median 2.5% in Veneta — 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 75/100 on livability (#86 in OR, #4,271 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living B+; Watch: crime C-, commute C-, schools D-.
• Fern Ridge SD 28J (rural): math 22% / reading 44% proficiency, ranked #29 of 58 in OR (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 79 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,808 units permitted in Lane County in 2024 (972 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $567 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Lane County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $23k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 332 days — a 12% lower offer ($72k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $8k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $72,160 (12.0% below list)

Questions for the listing agent

1. It's been on market 332 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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.
6. 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.
7. 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: 2.80% ✓
• Cap rate: 24.53%
• Cash-on-cash: 65.14%
• DSCR: 3.90
• GRM: 3.0

CMA / ARV

• ARV (median comp): $97,526
• List price: $82,000
• Delta: -15.92%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
87860 Territorial Rd	0.08mi	2/2.0	1,032 (+10%)	1mo	$85,000	$82	76
87860 Territorial Rd #20	0.00mi	3/1.0 (+1)	924 (-2%)	21mo	$80,000	$87	73
87860 Territorial Rd #54	0.00mi	2/2.0	1,056 (+13%)	8mo	$100,000	$95	71
87911 Territorial Rd #14	0.24mi	2/2.0	960 (+2%)	23mo	$62,000	$65	64

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

Projected returns pro-forma

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

5-year hold

• IRR: 64.3%
• Equity multiple: 3.88×
• Total profit: $66,129
• Equity at exit: $12,226

10-year hold

• IRR: 68.7%
• Equity multiple: 7.97×
• Total profit: $159,941
• Equity at exit: $7,090

Cash invested: $22,960 (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 97487

• Home prices YoY: -30.7%
• Active inventory: 79
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $2,295 medium
• Mortgage (P&I): −$430
• Tax est. 1.5%: −$102 /mo · $1,230/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$482
• Net cashflow: $1,246

Break-even live

Break-even rent $717

Max offer price $82,000

Occupancy floor 41%

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: $20,500
• Closing costs: $2,460
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
88064 Pine St Veneta, OR	3.0	2.0	1064	$2,295	$2.16	44d	1	0.56mi

Listing history 8 events

1. 2026-05-14
   status Pending 470-char remark

   Show marketing remark (470 chars)

   Don't miss this well-maintained 2-bedroom, 2-bathroom single wide located in the highly sought-after Shalimar Mobile Home Park in the heart of Veneta with only $488 space rent! Featuring updated flooring, fresh interior paint, a new walk-in shower, and a covered wheelchair-accessible ramp for added comfort and convenience. Ideally situated close to local schools, parks, and all the amenities Veneta has to offer—this home is move-in ready and full of potential!

2. 2025-08-18
   price $82,000 470-char remark

   Show marketing remark (470 chars)

   Don't miss this well-maintained 2-bedroom, 2-bathroom single wide located in the highly sought-after Shalimar Mobile Home Park in the heart of Veneta with only $488 space rent! Featuring updated flooring, fresh interior paint, a new walk-in shower, and a covered wheelchair-accessible ramp for added comfort and convenience. Ideally situated close to local schools, parks, and all the amenities Veneta has to offer—this home is move-in ready and full of potential!

3. 2025-07-09
   status Active 470-char remark

   Show marketing remark (470 chars)

   Don't miss this well-maintained 2-bedroom, 2-bathroom single wide located in the highly sought-after Shalimar Mobile Home Park in the heart of Veneta with only $488 space rent! Featuring updated flooring, fresh interior paint, a new walk-in shower, and a covered wheelchair-accessible ramp for added comfort and convenience. Ideally situated close to local schools, parks, and all the amenities Veneta has to offer—this home is move-in ready and full of potential!

4. 2025-06-04
   status Pending 470-char remark

   Show marketing remark (470 chars)

   Don't miss this well-maintained 2-bedroom, 2-bathroom single wide located in the highly sought-after Shalimar Mobile Home Park in the heart of Veneta with only $488 space rent! Featuring updated flooring, fresh interior paint, a new walk-in shower, and a covered wheelchair-accessible ramp for added comfort and convenience. Ideally situated close to local schools, parks, and all the amenities Veneta has to offer—this home is move-in ready and full of potential!

5. 2025-05-12
   listed $90,000 Active 470-char remark

   Show marketing remark (470 chars)

   Don't miss this well-maintained 2-bedroom, 2-bathroom single wide located in the highly sought-after Shalimar Mobile Home Park in the heart of Veneta with only $488 space rent! Featuring updated flooring, fresh interior paint, a new walk-in shower, and a covered wheelchair-accessible ramp for added comfort and convenience. Ideally situated close to local schools, parks, and all the amenities Veneta has to offer—this home is move-in ready and full of potential!

6. 2022-07-08
   soldstatus $60,000 Sold 496-char remark

   Show marketing remark (496 chars)

   COME SEE THIS...2 bedroom, 2 bath single wide in the sought after family park of Shalimar. Space rent a very affordable $368 a month! Large, open living-dining room area with built in cabinets. Stove, refrigerator, washer and dryer included in the sale. Brand new water heater. Newer roof and ductless heating. With a little (cigarette smoke)damage control the value of this unit will go way up! Here is your opportunity to buy low, put in some sweat equity and have a lovely home of good value!

7. 2022-06-26
   status Pending 496-char remark

   Show marketing remark (496 chars)

   COME SEE THIS...2 bedroom, 2 bath single wide in the sought after family park of Shalimar. Space rent a very affordable $368 a month! Large, open living-dining room area with built in cabinets. Stove, refrigerator, washer and dryer included in the sale. Brand new water heater. Newer roof and ductless heating. With a little (cigarette smoke)damage control the value of this unit will go way up! Here is your opportunity to buy low, put in some sweat equity and have a lovely home of good value!

8. 2022-06-24
   listed $60,000 Active 496-char remark

   Show marketing remark (496 chars)

   COME SEE THIS...2 bedroom, 2 bath single wide in the sought after family park of Shalimar. Space rent a very affordable $368 a month! Large, open living-dining room area with built in cabinets. Stove, refrigerator, washer and dryer included in the sale. Brand new water heater. Newer roof and ductless heating. With a little (cigarette smoke)damage control the value of this unit will go way up! Here is your opportunity to buy low, put in some sweat equity and have a lovely home of good value!

ⓘ 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 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥92°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 12 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,540
• − Mortgage interest: −$4,593
• − Property taxes: −$1,230
• − Insurance: −$410
• − Repairs & maintenance: −$2,203
• − Management: −$2,203
• − Depreciation: −$2,385
• Taxable income: $14,515
• Est. tax owed @ 24.0%: −$3,484
• After-tax cash flow: $11,473/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: Fern Ridge SD 28J
• NCES district ID: 4104950
• Math proficiency: 22% ▼ -15.00%
• Reading proficiency: 44% ▼ -9.00%
• Median HH income: $50,687
• Composite: 28.67/100
• National rank: #6697
• State rank: #29 of 58 in OR

Livability — Veneta

• Score: 75/100
• State rank: #86
• US rank: #4271

Category grades

Amenities D- Commute C- Cost of living B+ Crime C- Employment C Housing A+ Health & safety A+ User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Veneta, OR
• Population (ZIP): 9,546

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 11% Two or more races 11% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 4% Lithuanian 3% Romanian 2%
• Foreign-born: 3% · Vietnam, Canada
• Languages at home: 96% English-only · Spanish 2% Vietnamese 2%

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: ▼ -129.87%
• Current HPI: 293.6855
• 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

+36.7% since first listed

8 events — show timeline

• 2026-05-14 Pending — RMLS
• 2025-08-18 Price Changed $82,000 RMLS
• 2025-07-09 Relisted — RMLS
• 2025-06-04 Pending — RMLS
• 2025-05-12 Listed $90,000 RMLS
• 2022-07-08 Sold (MLS) $60,000 RMLS
• 2022-06-26 Pending — RMLS
• 2022-06-24 Listed $60,000 RMLS

Property tax history

-47.4%/yr

Latest (2015): $5 · +0.0% YoY. Source: county tax records.