300 SE Goodnight Ave #74 · Corvallis, OR 97333

$73,000

2 bd · 2.0 ba · 938 sqft · Manufactured public records · 121 Days on market

Built 1990 $78/sqft · 39% below area Est $120k · 39% 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.9/10.0
• Livability +4.1/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this 938 sq ft 2bd 2ba manufactured home completely remodeled in 2019 in a clean park. Good functional floor plan with bedroom and bath on each side of the home 1 with tub & standing shower and 1 with standing shower. The kitchen offers great counter space, bar seating, and plenty of cabinet storage, making it ideal for cooking and entertaining. Primary bedroom has walk in closet. Washer and dryer hookups. Large deck. Lot has a separate storage area. Near bus line, parks, walking trails & OSU. Summerset Village All Age Park With Pool And ClubHouse

Key facts

• Completely remodeled
• Walk in closet
• Bar seating

Tags

• COMPLETELY REMODELED
• FUNCTIONAL FLOOR PLAN
• GREAT COUNTER SPACE
• BAR SEATING
• PLENTY OF CABINET STORAGE
• WALK IN CLOSET

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $73k.

Deal economics

• At list price, monthly cash flow is $845 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $73k).
• Recommended offer: $64k (12.0% below list) — sets the bar for market timing.
• Cap rate 20.2% vs local median 2.6% in Corvallis — 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 82/100 on livability (#45 in OR, #1,113 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: cost of living F.
• Corvallis SD 509J (urban): math 49% / reading 62% proficiency, ranked #15 of 183 in OR (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+2.6%/yr); 87 active listings in the ZIP; 11 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; 116 units permitted in Benton County in 2024 (0 in 5+ unit buildings).
• This rent runs 30% of the median local income ($65k/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 $505 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Benton County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.6% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 121 days — a 12% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $64,240 (12.0% below list)

Questions for the listing agent

1. It's been on market 121 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 2.27% ✓
• Cap rate: 20.19%
• Cash-on-cash: 49.63%
• DSCR: 3.21
• GRM: 3.7

CMA / ARV

• ARV (median comp): $120,000
• List price: $73,000
• Delta: -39.17%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
300 SE Goodnight Ave #56	0.00mi	3/1.0 (+1)	1,008 (+8%)	4mo	$51,000	$51	75

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 · 2.63% rent growth · sell at horizon

5-year hold

• IRR: 46.9%
• Equity multiple: 3.03×
• Total profit: $41,398
• Equity at exit: $10,885

10-year hold

• IRR: 52.4%
• Equity multiple: 6.03×
• Total profit: $102,874
• Equity at exit: $6,312

Cash invested: $20,440 (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 97333

• Rents YoY: 2.6%
• Active inventory: 87
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,654 high
• Mortgage (P&I): −$383
• Tax from tax record: −$48 /mo · $578/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $845

Break-even live

Break-even rent $584

Max offer price $73,000

Occupancy floor 44%

Sensitivity live

Price	-10% $887	-5% $866	+0% $845	+5% $825	+10% $804
Rent	-10% $715	-5% $780	+0% $845	+5% $911	+10% $976
Rate	-1.0pp $882	-0.5pp $864	base $845	+0.5pp $826	+1.0pp $807

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: $18,250
• Closing costs: $2,190
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2665 SW Pickford St Unit CNV 57 Corvallis, OR	2.0	1.0	756	$1,395	$1.85	45d	1	0.36mi
900 SE Centerpointe Dr Corvallis, OR	1.0–3.0	1.0–2.0	952	$1,662	$1.74	44d	1	0.37mi
2567 SW Pickford St Unit C Corvallis, OR	2.0	1.0	800	$1,295	$1.62	45d	1	0.42mi
3460 SE Midvale Dr Corvallis, OR	1.0–3.0	1.0–1.5	858	$1,610	$1.88	44d	1	0.46mi
100 SE Viewmont Ave Unit 110-A Corvallis, OR	2.0	1.5	1080	$1,550	$1.44	44d	1	0.53mi
445 SW Tunison Ave Unit 445-13 Corvallis, OR	2.0	1.0	760	$1,395	$1.84	44d	1	0.61mi
2000 SE Bethel St Corvallis, OR	3.0	1.0	937	$2,325	$2.48	44d	1	0.73mi
350 SE Lilly Ave Apt 3 Corvallis, OR	1.0	1.0	600	$1,395	$2.33	44d	1	0.82mi
325 SE Lilly Ave Unit A Corvallis, OR	2.0	1.5	856	$1,525	$1.78	44d	1	0.85mi
1750 SE Crystal Lake Dr Unit 1750-E Corvallis, OR	2.0	2.0	954	$1,499	$1.57	44d	1	0.96mi
1680 SE Crystal Lake Dr Unit 1680-E Corvallis, OR	2.0	2.0	954	$1,499	$1.57	44d	1	1.01mi

Listing history 25 events

1. 2026-06-19
   days on market $73,000 Active 121 DOM
2. 2026-06-18
   days on market $73,000 Active 120 DOM
3. 2026-06-17
   days on market $73,000 Active 119 DOM
4. 2026-06-16
   days on market $73,000 Active 118 DOM
5. 2026-06-15
   days on market $73,000 Active 117 DOM
6. 2026-06-14
   days on market $73,000 Active 115 DOM
7. 2026-06-10
   days on market $73,000 Active 112 DOM
8. 2026-06-09
   days on market $73,000 Active 111 DOM
9. 2026-06-08
   days on market $73,000 Active 110 DOM
10. 2026-06-07
    days on market $73,000 Active 109 DOM
11. 2026-06-05
    days on market $73,000 Active 106 DOM
12. 2026-06-03
    days on market $73,000 Active 105 DOM
13. 2026-06-02
    days on market $73,000 Active 104 DOM
14. 2026-06-01
    days on market $73,000 Active 103 DOM
15. 2026-05-31
    days on market $73,000 Active 102 DOM
16. 2026-05-30
    days on market $73,000 Active 101 DOM
17. 2026-02-17
    listed $78,000 Active 572-char remark

    Show marketing remark (572 chars)

    Welcome to this 938 sq ft 2bd 2ba manufactured home completely remodeled in 2019 in a clean park. Good functional floor plan with bedroom and bath on each side of the home 1 with tub & standing shower and 1 with standing shower. The kitchen offers great counter space, bar seating, and plenty of cabinet storage, making it ideal for cooking and entertaining. Primary bedroom has walk in closet. Washer and dryer hookups. Large deck. Lot has a separate storage area. Near bus line, parks, walking trails & OSU. Summerset Village All Age Park With Pool And ClubHouse

18. 2022-02-24
    soldstatus $60,000 Sold 497-char remark

    Show marketing remark (497 chars)

    Completely remodeled in 2019. Turn key as can be! Live your best life in your own slice of paradise. Beautiful vinyl floors, a/c +heat units, electric fireplace, dishwasher, range & fridge. High efficiency washer & dryer, luxury updated bathrooms, 1 with tub & standing shower and 1 with standing shower. Large freshly painted deck. Primary bedroom has walk in closet. Lot has a separate storage area. Near bus line, parks, walking trails & OSU. Don't miss this one! Space #74

19. 2022-01-17
    status Pending 497-char remark

    Show marketing remark (497 chars)

    Completely remodeled in 2019. Turn key as can be! Live your best life in your own slice of paradise. Beautiful vinyl floors, a/c +heat units, electric fireplace, dishwasher, range & fridge. High efficiency washer & dryer, luxury updated bathrooms, 1 with tub & standing shower and 1 with standing shower. Large freshly painted deck. Primary bedroom has walk in closet. Lot has a separate storage area. Near bus line, parks, walking trails & OSU. Don't miss this one! Space #74

20. 2022-01-08
    listed $60,000 Active 497-char remark

    Show marketing remark (497 chars)

    Completely remodeled in 2019. Turn key as can be! Live your best life in your own slice of paradise. Beautiful vinyl floors, a/c +heat units, electric fireplace, dishwasher, range & fridge. High efficiency washer & dryer, luxury updated bathrooms, 1 with tub & standing shower and 1 with standing shower. Large freshly painted deck. Primary bedroom has walk in closet. Lot has a separate storage area. Near bus line, parks, walking trails & OSU. Don't miss this one! Space #74

21. 2019-04-26
    soldstatus $45,000 Sold
22. 2019-04-08
    historical Active under Contract
23. 2019-03-30
    price $46,000
24. 2019-02-22
    listed $50,000 Active
25. 1995-10-13
    soldstatus $22,000

ⓘ 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: $578 · $48/mo
• Projected year-2 tax: $708 · $59/mo
• Expected delta: +$130/yr (+$11/mo · 22.4%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥91°F today · 14 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: $19,850
• − Mortgage interest: −$4,089
• − Property taxes: −$578
• − Insurance: −$365
• − Repairs & maintenance: −$1,588
• − Management: −$1,588
• − Depreciation: −$2,124
• Taxable income: $9,518
• Est. tax owed @ 24.0%: −$2,284
• After-tax cash flow: $7,860/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: Corvallis SD 509J
• NCES district ID: 4103480
• Math proficiency: 49% ▼ -3.00%
• Reading proficiency: 62% ▼ -1.00%
• Median HH income: $44,820
• Composite: 48.62/100
• National rank: #4584
• State rank: #15 of 183 in OR

Livability — Corvallis

• Score: 82/100
• State rank: #45
• US rank: #1113

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Corvallis, OR
• County: Benton County · 98,484 people
• City population: 67,812
• Metro: Corvallis, OR
• Population (ZIP): 23,934
• Household income: $65,191
• Rent vs Own: 55.4% rent · 44.6% own
• Severe rent burden: 2038.0

Population outlook (Benton County) Hauer SSP2

• Today (2025): 96,963 people
• By 2030: 101,658 · +4.8%
• By 2040: 110,157 · +13.6%
• By 2050: 119,275 · +23.0%
• By 2075: 145,172 · +49.7%
• By 2100: 165,349 · +70.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 9% Two or more races 8% Asian 7%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 5% Slovak 4% Portuguese 3%
• Foreign-born: 10% · China, Canada
• Languages at home: 87% English-only · Spanish 5% Chinese 4% Other Indo-European 2%

Political lean MEDSL · Benton

• 2024 margin: Solid D (+39.6) · D 68.1% · R 28.5% · Other 3.5%
• 2008→2024 swing: +8.1pp toward D · 2008: 31.5pp · 2024: 39.6pp
• All cycles: 2024: D+39.6 2020: D+39.7 2016: D+33.8 2012: D+28.8 2008: D+31.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -376.98%
• Current HPI: 309.2734
• Rent YoY: ▲ 2.63%
• Metro: Corvallis, 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

+254.5% since first listed

9 events — show timeline

• 2026-02-17 Listed $78,000 WVMLS
• 2022-02-24 Sold (MLS) $60,000 WVMLS
• 2022-01-17 Pending — WVMLS
• 2022-01-08 Listed $60,000 WVMLS
• 2019-04-26 Sold (MLS) $45,000 WVMLS
• 2019-04-08 Contingent — WVMLS
• 2019-03-30 Price Changed $46,000 WVMLS
• 2019-02-22 Listed $50,000 WVMLS
• 1995-10-13 Sold (Public Records) $22,000 Public Records

Property tax history

+5.7%/yr

Latest (2025): $578 · +3.0% YoY. Source: county tax records.