200 Market St #255 · Lebanon, OR 97355

$119,999

3 bd · 2.0 ba · 1,323 sqft · Other public records · 197 Days on market

Built 1998 $91/sqft · 11% below area Est $135k · 11% 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 +12.5/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Motivated Seller! Discover unparalleled luxury in this better-than-new, professionally remodeled 3-bedroom, 2-bath Palm Harbor double-wide located on a desirable corner lot in the all-ages North Santiam Village community. This 1,323 sq. ft. masterpiece features a sophisticated split layout, with the primary suite privately situated on one end of the home and the additional two bedrooms and full bath on the opposite end—ideal for comfort and separation of space. Step inside to a bright, open-concept interior showcasing sleek new LVP flooring throughout the main areas and plush new carpeting in the bedrooms. The stunning kitchen offers black quartz countertops, a large single-basin stainless steel sink, brand-new high-end stainless-steel appliances, and elegant matte black hardware. Natural light pours into the dining area, creating a warm and inviting atmosphere. The serene primary suite includes a walk-in closet and a spa-inspired bathroom with a large soaking tub featuring custom tile work, a separate walk-in shower, and double sinks. Both bathrooms are beautifully updated with new tile flooring, quartz counters, and modern matte black fixtures. This meticulously renovated home also includes a new heating and cooling system, new interior and exterior paint, new windows, new deck, new hardware and fixtures, and a newly fenced backyard with cedar fencing. A covered carport and attached storage shed add convenience and functionality. Enjoy access to community amenities including basketball and tennis courts, a recreation center with communal kitchen, and a shared library. Park rent is $849/month; All buyers must receive approval from North Santiam Village.

Key facts

• Walk-in closet
• Soaking tub
• Split layout

Tags

• PROFESSIONALLY REMODELED
• SPLIT LAYOUT
• BLACK QUARTZ COUNTERTOPS
• WALK-IN CLOSET
• SPA-INSPIRED BATHROOM
• SOAKING TUB

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $120k.

Deal economics

• At list price, monthly cash flow is $692 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.2% vs local median 2.9% in Lebanon — 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 71/100 on livability (#126 in OR) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, cost of living A; Watch: schools C-, health & safety C-, amenities D+.
• Lebanon Community SD 9 (town): math 27% / reading 43% proficiency, ranked #26 of 58 in OR (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.5%/yr); 246 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 311 units permitted in Linn County in 2024 (60 in 5+ unit buildings).
• This rent runs 32% of the median local income ($69k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Linn County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 4.5% rent growth), your $34k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 197 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 15y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $42k; list at $120k implies a 185% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $105,599 (12.0% below list)

Questions for the listing agent

1. It's been on market 197 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. 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.
5. 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.
6. 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: 1.54% ✓
• Cap rate: 13.21%
• Cash-on-cash: 24.70%
• DSCR: 2.10
• GRM: 5.4

CMA / ARV

• ARV (median comp): $135,099
• List price: $119,999
• Delta: -11.18%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.55% rent growth · sell at horizon

5-year hold

• IRR: 19.8%
• Equity multiple: 1.82×
• Total profit: $27,538
• Equity at exit: $17,892

10-year hold

• IRR: 29.0%
• Equity multiple: 3.77×
• Total profit: $93,107
• Equity at exit: $10,375

Cash invested: $33,600 (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 97355

• Rents YoY: 4.5%
• Active inventory: 246
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,853 high
• Mortgage (P&I): −$629
• Tax from tax record: −$93 /mo · $1,114/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $692

Break-even live

Break-even rent $977

Max offer price $119,999

Occupancy floor 58%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
86 Weldwood Dr Lebanon, OR	2.0	2.0	1222	$1,650	$1.35	44d	1	0.13mi
26 Sand Ridge Ct Lebanon, OR	3.0	2.5	1696	$2,345	$1.38	44d	1	0.30mi
2656 S Main Rd #107 Lebanon, OR	3.0	2.5	1402	$1,950	$1.39	44d	1	0.43mi
300 Sand Ridge Ct Lebanon, OR	1.0–2.0	1.0–2.0	944	$1,525	$1.61	44d	6	0.48mi
3463 Snow Bird Dr Lebanon, OR	2.0	2.0	1621	$2,200	$1.36	44d	1	0.51mi
362 Seven Oaks Ln Lebanon, OR	3.0	2.5	1513	$2,250	$1.49	44d	2	0.63mi
2180 Franklin St Lebanon, OR	1.0–2.0	1.0–2.0	862	$1,695	$1.97	44d	6	0.67mi
E Airport Rd Lebanon, OR	1.0–3.0	1.0–2.0	993	$1,995	$2.01	44d	14	0.76mi
1956 S Second St Lebanon, OR	1.0–2.0	1.0–2.0	840	$1,445	$1.72	44d	7	0.79mi
1900 S 2nd St Unit A304 Lebanon, OR	3.0	2.0	1177	$1,700	$1.44	44d	1	0.84mi
1900 S Second St Unit A201 Lebanon, OR	2.0	2.0	1078	$1,450	$1.35	44d	1	0.84mi
1096 Fuji Ln Lebanon, OR	3.0	2.0	1300	$2,395	$1.84	44d	1	0.95mi
929 Wassom St Unit 929 Lebanon, OR	2.0	2.0	1202	$1,800	$1.50	44d	1	0.96mi
975 Wassom St Lebanon, OR	2.0	1.5	928	$1,525	$1.64	44d	1	1.01mi
1515 David Dr Unit 1515-DA Lebanon, OR	2.0	1.0	1104	$1,450	$1.31	44d	1	1.14mi
2400 12th St Lebanon, OR	1.0–2.0	1.0	926	$1,600	$1.73	44d	6	1.22mi
640 F St Lebanon, OR	2.0	1.0	980	$1,435	$1.46	44d	1	1.27mi

Listing history 30 events

1. 2026-06-19
   days on market $119,999 Active 197 DOM
2. 2026-06-18
   days on market $119,999 Active 196 DOM
3. 2026-06-17
   days on market $119,999 Active 195 DOM
4. 2026-06-16
   days on market $119,999 Active 194 DOM
5. 2026-06-15
   days on market $119,999 Active 193 DOM
6. 2026-06-14
   days on market $119,999 Active 191 DOM
7. 2026-06-13
   days on market $119,999 Active 190 DOM
8. 2026-06-10
   days on market $119,999 Active 188 DOM
9. 2026-06-09
   days on market $119,999 Active 187 DOM
10. 2026-06-08
    days on market $119,999 Active 186 DOM
11. 2026-06-07
    days on market $119,999 Active 185 DOM
12. 2026-06-03
    days on market $119,999 Active 181 DOM
13. 2026-06-03
    price $119,999 Active 180 DOM
14. 2026-06-02
    days on market $123,555 Active 180 DOM
15. 2026-06-01
    days on market $123,555 Active 179 DOM
16. 2026-05-31
    days on market $123,555 Active 178 DOM
17. 2026-05-30
    days on market $123,555 Active 177 DOM
18. 2026-04-17
    price $127,900 1688-char remark

    Show marketing remark (1688 chars)

    Motivated Seller! Discover unparalleled luxury in this better-than-new, professionally remodeled 3-bedroom, 2-bath Palm Harbor double-wide located on a desirable corner lot in the all-ages North Santiam Village community. This 1,323 sq. ft. masterpiece features a sophisticated split layout, with the primary suite privately situated on one end of the home and the additional two bedrooms and full bath on the opposite end—ideal for comfort and separation of space. Step inside to a bright, open-concept interior showcasing sleek new LVP flooring throughout the main areas and plush new carpeting in the bedrooms. The stunning kitchen offers black quartz countertops, a large single-basin stainless steel sink, brand-new high-end stainless-steel appliances, and elegant matte black hardware. Natural light pours into the dining area, creating a warm and inviting atmosphere. The serene primary suite includes a walk-in closet and a spa-inspired bathroom with a large soaking tub featuring custom tile work, a separate walk-in shower, and double sinks. Both bathrooms are beautifully updated with new tile flooring, quartz counters, and modern matte black fixtures. This meticulously renovated home also includes a new heating and cooling system, new interior and exterior paint, new windows, new deck, new hardware and fixtures, and a newly fenced backyard with cedar fencing. A covered carport and attached storage shed add convenience and functionality. Enjoy access to community amenities including basketball and tennis courts, a recreation center with communal kitchen, and a shared library. Park rent is $849/month; All buyers must receive approval from North Santiam Village.

19. 2025-12-04
    listed $129,900 Active 1688-char remark

    Show marketing remark (1688 chars)

    Motivated Seller! Discover unparalleled luxury in this better-than-new, professionally remodeled 3-bedroom, 2-bath Palm Harbor double-wide located on a desirable corner lot in the all-ages North Santiam Village community. This 1,323 sq. ft. masterpiece features a sophisticated split layout, with the primary suite privately situated on one end of the home and the additional two bedrooms and full bath on the opposite end—ideal for comfort and separation of space. Step inside to a bright, open-concept interior showcasing sleek new LVP flooring throughout the main areas and plush new carpeting in the bedrooms. The stunning kitchen offers black quartz countertops, a large single-basin stainless steel sink, brand-new high-end stainless-steel appliances, and elegant matte black hardware. Natural light pours into the dining area, creating a warm and inviting atmosphere. The serene primary suite includes a walk-in closet and a spa-inspired bathroom with a large soaking tub featuring custom tile work, a separate walk-in shower, and double sinks. Both bathrooms are beautifully updated with new tile flooring, quartz counters, and modern matte black fixtures. This meticulously renovated home also includes a new heating and cooling system, new interior and exterior paint, new windows, new deck, new hardware and fixtures, and a newly fenced backyard with cedar fencing. A covered carport and attached storage shed add convenience and functionality. Enjoy access to community amenities including basketball and tennis courts, a recreation center with communal kitchen, and a shared library. Park rent is $849/month; All buyers must receive approval from North Santiam Village.

20. 2025-02-26
    soldstatus $42,100 Sold 510-char remark

    Show marketing remark (510 chars)

    Fixer! This spacious 1,323 sq. ft. manufactured home in an all-ages park offers a great opportunity for the right buyer. The split-bedroom layout includes a primary suite with a walk-in closet, double sinks, a soaking tub, and a shower, while two additional bedrooms and a full bath are situated on the opposite end for added privacy. Located on a corner lot, the property features a carport and an attached shed for extra storage. With some TLC, this home has incredible potential! Buyer must be park-approved

21. 2025-02-26
    soldstatus $42,100 Closed

    Show marketing remark (510 chars)

    Fixer! This spacious 1,323 sq. ft. manufactured home in an all-ages park offers a great opportunity for the right buyer. The split-bedroom layout includes a primary suite with a walk-in closet, double sinks, a soaking tub, and a shower, while two additional bedrooms and a full bath are situated on the opposite end for added privacy. Located on a corner lot, the property features a carport and an attached shed for extra storage. With some TLC, this home has incredible potential! Buyer must be park-approved

22. 2025-02-20
    status Pending

    Show marketing remark (510 chars)

    Fixer! This spacious 1,323 sq. ft. manufactured home in an all-ages park offers a great opportunity for the right buyer. The split-bedroom layout includes a primary suite with a walk-in closet, double sinks, a soaking tub, and a shower, while two additional bedrooms and a full bath are situated on the opposite end for added privacy. Located on a corner lot, the property features a carport and an attached shed for extra storage. With some TLC, this home has incredible potential! Buyer must be park-approved

23. 2025-02-20
    status Pending 510-char remark

    Show marketing remark (510 chars)

    Fixer! This spacious 1,323 sq. ft. manufactured home in an all-ages park offers a great opportunity for the right buyer. The split-bedroom layout includes a primary suite with a walk-in closet, double sinks, a soaking tub, and a shower, while two additional bedrooms and a full bath are situated on the opposite end for added privacy. Located on a corner lot, the property features a carport and an attached shed for extra storage. With some TLC, this home has incredible potential! Buyer must be park-approved

24. 2025-02-16
    price $55,000 510-char remark

    Show marketing remark (510 chars)

    Fixer! This spacious 1,323 sq. ft. manufactured home in an all-ages park offers a great opportunity for the right buyer. The split-bedroom layout includes a primary suite with a walk-in closet, double sinks, a soaking tub, and a shower, while two additional bedrooms and a full bath are situated on the opposite end for added privacy. Located on a corner lot, the property features a carport and an attached shed for extra storage. With some TLC, this home has incredible potential! Buyer must be park-approved

25. 2025-02-16
    price $55,000

    Show marketing remark (510 chars)

    Fixer! This spacious 1,323 sq. ft. manufactured home in an all-ages park offers a great opportunity for the right buyer. The split-bedroom layout includes a primary suite with a walk-in closet, double sinks, a soaking tub, and a shower, while two additional bedrooms and a full bath are situated on the opposite end for added privacy. Located on a corner lot, the property features a carport and an attached shed for extra storage. With some TLC, this home has incredible potential! Buyer must be park-approved

26. 2025-02-07
    listed $60,000 Active 510-char remark

    Show marketing remark (510 chars)

    Fixer! This spacious 1,323 sq. ft. manufactured home in an all-ages park offers a great opportunity for the right buyer. The split-bedroom layout includes a primary suite with a walk-in closet, double sinks, a soaking tub, and a shower, while two additional bedrooms and a full bath are situated on the opposite end for added privacy. Located on a corner lot, the property features a carport and an attached shed for extra storage. With some TLC, this home has incredible potential! Buyer must be park-approved

27. 2025-02-07
    listed $60,000 Active

    Show marketing remark (510 chars)

    Fixer! This spacious 1,323 sq. ft. manufactured home in an all-ages park offers a great opportunity for the right buyer. The split-bedroom layout includes a primary suite with a walk-in closet, double sinks, a soaking tub, and a shower, while two additional bedrooms and a full bath are situated on the opposite end for added privacy. Located on a corner lot, the property features a carport and an attached shed for extra storage. With some TLC, this home has incredible potential! Buyer must be park-approved

28. 2011-11-18
    historical
29. 2011-11-17
    soldstatus $21,000 Sold
30. 2011-05-23
    listed $25,900 Active

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

Tax reassessment forecast OR · Resets to sale price

• Current annual tax: $1,114 · $93/mo
• Projected year-2 tax: $1,164 · $97/mo
• Expected delta: +$50/yr (+$4/mo · 4.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 ≥91°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 11 unhealthy d/yr today · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,236
• − Mortgage interest: −$6,722
• − Property taxes: −$1,114
• − Insurance: −$600
• − Repairs & maintenance: −$1,779
• − Management: −$1,779
• − Depreciation: −$3,491
• Taxable income: $6,751
• Est. tax owed @ 24.0%: −$1,620
• After-tax cash flow: $6,680/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: Lebanon Community SD 9
• NCES district ID: 4107380
• Math proficiency: 27% ▼ -10.00%
• Reading proficiency: 43% ▼ -4.00%
• Median HH income: $45,264
• Composite: 29.83/100
• National rank: #6418
• State rank: #26 of 58 in OR

Livability — Lebanon

• Score: 71/100
• State rank: #126
• US rank: #7209

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lebanon, OR
• County: Linn County · 70,700 people
• City population: 34,292
• Metro: Albany-Lebanon, OR
• Population (ZIP): 34,292
• Household income: $68,595
• Rent vs Own: 31.7% rent · 68.3% own
• Severe rent burden: 1051.0

Population outlook (Linn County) Hauer SSP2

• Today (2025): 127,026 people
• By 2030: 129,540 · +2.0%
• By 2040: 132,780 · +4.5%
• By 2050: 133,614 · +5.2%
• By 2075: 129,061 · +1.6%
• By 2100: 112,224 · -11.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 7% Two or more races 7%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 5% Slovak 3% Portuguese 3%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5% French/Haitian/Cajun 1%

Political lean MEDSL · Linn

• 2024 margin: Strong R (+24.4) · D 36.2% · R 60.6% · Other 3.1%
• 2008→2024 swing: -13.0pp toward R · 2008: -11.4pp · 2024: -24.4pp
• All cycles: 2024: R+24.4 2020: R+23.4 2016: R+27.8 2012: R+17.2 2008: R+11.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -528.42%
• Current HPI: 221.8977
• Rent YoY: ▲ 4.55%
• Metro: Albany-Lebanon, OR
• 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

+393.8% since first listed

13 events — show timeline

• 2026-04-17 Price Changed $127,900 RMLS
• 2025-12-04 Listed $129,900 RMLS
• 2025-02-26 Sold (MLS) $42,100 RMLS
• 2025-02-26 Sold (MLS) $42,100 WVMLS
• 2025-02-20 Pending — RMLS
• 2025-02-20 Pending — WVMLS
• 2025-02-16 Price Changed $55,000 WVMLS
• 2025-02-16 Price Changed $55,000 RMLS
• 2025-02-07 Listed $60,000 RMLS
• 2025-02-07 Listed $60,000 WVMLS
• 2011-11-18 Listing Removed — WVMLS
• 2011-11-17 Sold (MLS) $21,000 WVMLS
• 2011-05-23 Listed $25,900 WVMLS

Property tax history

+3.0%/yr

Latest (2025): $1,114 · +3.4% YoY. Source: county tax records.