4985 Cone Ave · Eugene, OR 97402

$175,500

3 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 401 Days on market

Built 1987 6,098 sqft lot $152/sqft · 112% above area

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Why this score? — see what drove the C 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 +25.4/30.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Livability +4.0/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This Manufactured style single family home offers 3 bedrooms and 2 bathrooms with approximately 1152 square feet of living space on a 0.14 acre lot. Offers to be placed on Xome website. Interior inspections are not available. Do not trespass!

Key facts

• 6,098 sq ft lot
• Built 1987
• Listed 401 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $176k.

Deal economics

• At list price, monthly cash flow is $407 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $176k).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 2.8% in Eugene — 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 81/100 on livability (#52 in OR, #1,587 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment C-, cost of living C-, crime D-.
• Bethel SD 52 (urban): math 18% / reading 34% proficiency, ranked #52 of 58 in OR (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+1.6%/yr); 297 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,808 units permitted in Lane County in 2024 (972 in 5+ unit buildings).
• This rent runs 41% of the median local income ($58k/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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 401 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y ago; this cycle's ask is 16% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

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

Recommended offer $154,440 (12.0% below list)

Questions for the listing agent

1. It's been on market 401 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 B-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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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.
7. 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.
8. 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: 1.12% ✓
• Cap rate: 9.07%
• Cash-on-cash: 9.93%
• DSCR: 1.44
• GRM: 7.5

CMA / ARV

• ARV (median comp): $81,900
• List price: $175,500
• Delta: 114.29%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4900 Royal Ave #3	0.26mi	3/2.0	1,152 (0%)	5mo	$145,000	$126	84
1199 N Terry St #113	0.54mi	2/2.0 (-1)	1,152 (0%)	3mo	$90,125	$78	67
1199 N Terry St #404	0.54mi	3/2.0	1,196 (+4%)	3mo	$89,500	$75	66
1199 N Terry St #228	0.54mi	2/2.0 (-1)	1,152 (0%)	6mo	$63,000	$55	64
4939 Morely Loop	0.28mi	3/2.0	1,296 (+12%)	10mo	$270,000	$208	58
1199 N Terry St #394	0.54mi	2/2.0 (-1)	1,188 (+3%)	10mo	$102,400	$86	56
1199 N Terry St #320	0.54mi	2/2.0 (-1)	1,152 (0%)	21mo	$110,000	$95	52
1199 N Terry St #137	0.54mi	3/2.0	1,296 (+12%)	3mo	$133,000	$103	51
1199 N Terry St #152	0.54mi	3/2.0	1,313 (+14%)	12mo	$80,000	$61	41
1199 N Terry St #175	0.54mi	2/2.0 (-1)	988 (-14%)	14mo	$50,000	$51	34

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 · 1.58% rent growth · sell at horizon

5-year hold

• IRR: -2.9%
• Equity multiple: 0.89×
• Total profit: $-5,311
• Equity at exit: $26,168

10-year hold

• IRR: 5.2%
• Equity multiple: 1.36×
• Total profit: $17,658
• Equity at exit: $15,174

Cash invested: $49,140 (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 97402

• Rents YoY: 1.6%
• Active inventory: 297
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,961 high
• Mortgage (P&I): −$920
• Tax from tax record: −$149 /mo · $1,790/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $407

Break-even live

Break-even rent $1,446

Max offer price $175,500

Occupancy floor 74%

Sensitivity live

Price	-10% $506	-5% $456	+0% $407	+5% $357	+10% $307
Rent	-10% $252	-5% $329	+0% $407	+5% $484	+10% $562
Rate	-1.0pp $495	-0.5pp $451	base $407	+0.5pp $361	+1.0pp $315

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: $43,875
• Closing costs: $5,265
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1040 Lamplite Ln Eugene, OR	3.0	1.0	912	$1,895	$2.08	44d	1	0.59mi
4478 Fergus Ave Eugene, OR	3.0	1.5	1120	$1,695	$1.51	44d	1	0.76mi
573 Hanover St Eugene, OR	2.0	1.0	775	$1,495	$1.93	44d	1	0.76mi
543 Hanover St Eugene, OR	2.0	1.0	710	$1,725	$2.43	14d	1	0.77mi
128 Chase St Eugene, OR	2.0	1.5	1378	$1,895	$1.38	44d	1	1.41mi
2083 Amirante St Eugene, OR	3.0	2.0	1250	$2,295	$1.84	21d	1	1.47mi
2106 Golden Gardens St Eugene, OR	3.0	1.0	1410	$1,995	$1.41	44d	1	1.48mi
2077 Lemuria St Eugene, OR	4.0	2.0	1400	$1,995	$1.43	44d	1	1.48mi

Listing history 32 events

1. 2026-06-18
   days on market $175,500 Active 401 DOM
2. 2026-06-17
   days on market $175,500 Active 400 DOM
3. 2026-06-16
   days on market $175,500 Active 399 DOM
4. 2026-06-15
   days on market $175,500 Active 398 DOM
5. 2026-06-14
   days on market $175,500 Active 396 DOM
6. 2026-06-10
   days on market $175,500 Active 393 DOM
7. 2026-06-09
   days on market $175,500 Active 392 DOM
8. 2026-06-08
   days on market $175,500 Active 391 DOM
9. 2026-06-07
   days on market $175,500 Active 390 DOM
10. 2026-06-03
    days on market $175,500 Active 386 DOM
11. 2026-06-02
    days on market $175,500 Active 385 DOM
12. 2026-06-01
    days on market $175,500 Active 384 DOM
13. 2026-05-31
    days on market $175,500 Active 383 DOM
14. 2026-05-30
    days on market $175,500 Active 382 DOM
15. 2026-04-10
    price $175,500 242-char remark

    Show marketing remark (242 chars)

    This Manufactured style single family home offers 3 bedrooms and 2 bathrooms with approximately 1152 square feet of living space on a 0.14 acre lot. Offers to be placed on Xome website. Interior inspections are not available. Do not trespass!

16. 2025-10-24
    price $199,800 242-char remark

    Show marketing remark (242 chars)

    This Manufactured style single family home offers 3 bedrooms and 2 bathrooms with approximately 1152 square feet of living space on a 0.14 acre lot. Offers to be placed on Xome website. Interior inspections are not available. Do not trespass!

17. 2025-09-14
    price $251,100 242-char remark

    Show marketing remark (242 chars)

    This Manufactured style single family home offers 3 bedrooms and 2 bathrooms with approximately 1152 square feet of living space on a 0.14 acre lot. Offers to be placed on Xome website. Interior inspections are not available. Do not trespass!

18. 2025-05-13
    listed $151,547 Active 242-char remark

    Show marketing remark (242 chars)

    This Manufactured style single family home offers 3 bedrooms and 2 bathrooms with approximately 1152 square feet of living space on a 0.14 acre lot. Offers to be placed on Xome website. Interior inspections are not available. Do not trespass!

19. 2018-08-31
    soldstatus $153,500 Sold 256-char remark

    Show marketing remark (256 chars)

    Spacious layout, nice neighborhood, indoor utility room, separate master from other bedrooms with two sinks and soaking tub, forced air electric heat, spacious back yard. Priced to sell. In need of some slight TLC, bring your ideas and make this one shine!

20. 2018-08-31
    soldstatus $153,500 Sold

    Show marketing remark (256 chars)

    Spacious layout, nice neighborhood, indoor utility room, separate master from other bedrooms with two sinks and soaking tub, forced air electric heat, spacious back yard. Priced to sell. In need of some slight TLC, bring your ideas and make this one shine!

21. 2018-08-31
    soldstatus $153,500

    Show marketing remark (256 chars)

    Spacious layout, nice neighborhood, indoor utility room, separate master from other bedrooms with two sinks and soaking tub, forced air electric heat, spacious back yard. Priced to sell. In need of some slight TLC, bring your ideas and make this one shine!

22. 2018-06-26
    status Pending 256-char remark

    Show marketing remark (256 chars)

    Spacious layout, nice neighborhood, indoor utility room, separate master from other bedrooms with two sinks and soaking tub, forced air electric heat, spacious back yard. Priced to sell. In need of some slight TLC, bring your ideas and make this one shine!

23. 2018-06-26
    historical Active under Contract

    Show marketing remark (256 chars)

    Spacious layout, nice neighborhood, indoor utility room, separate master from other bedrooms with two sinks and soaking tub, forced air electric heat, spacious back yard. Priced to sell. In need of some slight TLC, bring your ideas and make this one shine!

24. 2018-05-25
    listed $160,000 Active
25. 2018-04-28
    listed $160,000 Active 256-char remark

    Show marketing remark (256 chars)

    Spacious layout, nice neighborhood, indoor utility room, separate master from other bedrooms with two sinks and soaking tub, forced air electric heat, spacious back yard. Priced to sell. In need of some slight TLC, bring your ideas and make this one shine!

26. 2005-11-04
    soldstatus $121,000
27. 2005-11-04
    soldstatus $121,000
28. 2005-10-17
    listed $121,000
29. 2005-10-17
    historical
30. 2005-07-15
    soldstatus $105,000
31. 1997-06-30
    soldstatus $82,000
32. 1989-09-08
    soldstatus $49,000

ⓘ 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: $1,790 · $149/mo
• Projected year-2 tax: $1,790 · $149/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 13 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,534
• − Mortgage interest: −$9,831
• − Property taxes: −$1,790
• − Insurance: −$878
• − Repairs & maintenance: −$1,883
• − Management: −$1,883
• − Depreciation: −$5,105
• Taxable income: $2,165
• Est. tax owed @ 24.0%: −$520
• After-tax cash flow: $4,361/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: Bethel SD 52
• NCES district ID: 4102040
• Math proficiency: 18% ▼ -14.00%
• Reading proficiency: 34% ▼ -14.00%
• Median HH income: $47,860
• Composite: 22.62/100
• National rank: #8066
• State rank: #52 of 58 in OR

Livability — Eugene

• Score: 81/100
• State rank: #52
• US rank: #1587

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eugene, OR
• County: Lane County · 310,476 people
• City population: 215,212
• Metro: Eugene-Springfield, OR
• Population (ZIP): 53,823
• Household income: $57,658
• Rent vs Own: 49.3% rent · 50.7% own
• Severe rent burden: 3142.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 17% Two or more races 11% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Italian 4% Lithuanian 3% Portuguese 3%
• Foreign-born: 7% · Canada, China, Vietnam
• Languages at home: 88% English-only · Spanish 9% Other Indo-European 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: ▼ -437.20%
• Current HPI: 298.1167
• Rent YoY: ▲ 1.58%
• Metro: Eugene-Springfield, 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

+258.2% since first listed

18 events — show timeline

• 2026-04-10 Price Changed $175,500 MLSCO
• 2025-10-24 Price Changed $199,800 MLSCO
• 2025-09-14 Price Changed $251,100 MLSCO
• 2025-05-13 Listed $151,547 MLSCO
• 2018-08-31 Sold (Public Records) $153,500 Public Records
• 2018-08-31 Sold (MLS) $153,500 WVMLS
• 2018-08-31 Sold (MLS) $153,500 RMLS
• 2018-06-26 Pending — RMLS
• 2018-06-26 Contingent — WVMLS
• 2018-05-25 Listed $160,000 WVMLS
• 2018-04-28 Listed $160,000 RMLS
• 2005-11-04 Sold (Public Records) $121,000 Public Records
• 2005-11-04 Sold (MLS) $121,000 RMLS
• 2005-10-17 Delisted — RMLS
• 2005-10-17 Listed $121,000 RMLS
• 2005-07-15 Sold (Public Records) $105,000 Public Records
• 1997-06-30 Sold (Public Records) $82,000 Public Records
• 1989-09-08 Sold (Public Records) $49,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $1,790 · +2.6% YoY. Source: county tax records.