421 Stevens Rd Unit 26 · Eagle Point, OR 97524

$49,000

2 bd · 1.0 ba · 1,008 sqft · Land public records · 53 Days on market

Built 1979 $49/sqft · 36% below area Est $77k · 36% under $750/mo HOA · 42% of rent

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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
• Livability +3.8/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this move-in ready, updated home in a desirable 55+ community in Eagle Point! This 2 bedroom, 1 bathroom mobile home offers 1,008 sq ft of clean, well-maintained living space with mountain views and a peaceful setting. Enjoy a bright, open feel, spacious bedrooms with ample closets, and a light-filled bathroom with separate tub and shower. The kitchen features updated cabinets, countertops, fixtures, pantry, and includes the refrigerator. Recent upgrades include flooring, blinds, exterior paint, and rubberized roof. Stay comfortable year-round with an energy-efficient mini-split heating and cooling system. Relax on the front covered porch. Park your car under the covered carport. Additional storage attached to the carport. Located in a quiet park with mature trees, wildlife, and close to shopping, dining, and other amenities. Affordable, low-maintenance living at its best!

Key facts

• Parking
• Built 1979
• Listed 52 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath land listed at $49k.

Deal economics

• At list price, monthly cash flow is $350 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $49k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.9% vs local median 2.3% in Eagle Point — 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 76/100 on livability (#75 in OR, #3,362 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A, health & safety A; Watch: amenities F, commute F.
• Eagle Point SD 9 (suburban): math 26% / reading 45% proficiency, ranked #134 of 183 in OR (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 233 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 904 units permitted in Jackson County in 2024 (212 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $339 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Jackson County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 42% of rent.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 6→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $47,530 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 3.61% ✓
• Cap rate: 14.86%
• Cash-on-cash: 30.60%
• DSCR: 2.36
• GRM: 2.3

CMA / ARV

• ARV (median comp): $77,045
• List price: $49,000
• Delta: -36.40%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 25.9%
• Equity multiple: 2.08×
• Total profit: $14,804
• Equity at exit: $7,306

10-year hold

• IRR: 33.9%
• Equity multiple: 4.17×
• Total profit: $43,463
• Equity at exit: $4,237

Cash invested: $13,720 (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 97524

• Home prices YoY: -27.7%
• Active inventory: 233
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,771 high
• Mortgage (P&I): −$257
• Tax from tax record: −$22 /mo · $260/yr
• Insurance: −$20
• HOA: −$750
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $350

Break-even live

Break-even rent $1,328

Max offer price $49,000

Occupancy floor 75%

Sensitivity live

Price	-10% $378	-5% $364	+0% $350	+5% $336	+10% $322
Rent	-10% $210	-5% $280	+0% $350	+5% $420	+10% $490
Rate	-1.0pp $375	-0.5pp $362	base $350	+0.5pp $337	+1.0pp $324

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: $12,250
• Closing costs: $1,470
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
118 N Shasta Ave Apt B Eagle Point, OR	3.0	2.0	1110	$1,695	$1.53	21d	1	0.30mi
173 N Royal Ave Eagle Point, OR	3.0	2.0	1400	$1,950	$1.39	13d	1	0.39mi
204 Fargo St Unit 204 Eagle Point, OR	2.0	1.0	744	$1,395	$1.88	13d	1	0.60mi
113 Little Butte Dr Eagle Point, OR	3.0	2.0	1336	$2,400	$1.80	13d	1	0.67mi
826 S Royal Ave Unit 828 Eagle Point, OR	2.0	1.0	780	$1,295	$1.66	44d	1	0.69mi
476 Teakwood Dr Eagle Point, OR	3.0	2.0	1400	$2,000	$1.43	21d	1	0.92mi

HOA detail

• Monthly dues: $750 · $9,000/yr

Listing history 18 events

1. 2026-06-19
   days on market $49,000 Active 53 DOM
2. 2026-06-18
   days on market $49,000 Active 52 DOM
3. 2026-06-17
   days on market $49,000 Active 51 DOM
4. 2026-06-16
   days on market $49,000 Active 50 DOM
5. 2026-06-15
   days on market $49,000 Active 49 DOM
6. 2026-06-14
   days on market $49,000 Active 47 DOM
7. 2026-06-13
   days on market $49,000 Active 46 DOM
8. 2026-06-10
   days on market $49,000 Active 44 DOM
9. 2026-06-09
   days on market $49,000 Active 43 DOM
10. 2026-06-08
    days on market $49,000 Active 42 DOM
11. 2026-06-07
    days on market $49,000 Active 41 DOM
12. 2026-06-05
    days on market $49,000 Active 38 DOM
13. 2026-06-03
    days on market $49,000 Active 37 DOM
14. 2026-06-02
    days on market $49,000 Active 36 DOM
15. 2026-06-01
    days on market $49,000 Active 35 DOM
16. 2026-05-31
    days on market $49,000 Active 34 DOM
17. 2026-05-30
    days on market $49,000 Active 33 DOM
18. 2026-04-27
    listed $49,000 Active 896-char remark

    Show marketing remark (896 chars)

    Welcome to this move-in ready, updated home in a desirable 55+ community in Eagle Point! This 2 bedroom, 1 bathroom mobile home offers 1,008 sq ft of clean, well-maintained living space with mountain views and a peaceful setting. Enjoy a bright, open feel, spacious bedrooms with ample closets, and a light-filled bathroom with separate tub and shower. The kitchen features updated cabinets, countertops, fixtures, pantry, and includes the refrigerator. Recent upgrades include flooring, blinds, exterior paint, and rubberized roof. Stay comfortable year-round with an energy-efficient mini-split heating and cooling system. Relax on the front covered porch. Park your car under the covered carport. Additional storage attached to the carport. Located in a quiet park with mature trees, wildlife, and close to shopping, dining, and other amenities. Affordable, low-maintenance living at its best!

ⓘ 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: $260 · $22/mo
• Projected year-2 tax: $475 · $40/mo
• Expected delta: +$215/yr (+$18/mo · 82.8%)

ⓘ 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 8/10 Severe
• 🌡 Heat 6/10 Major 6 d/yr ≥99°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 24 unhealthy d/yr today · 29 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,249
• − Mortgage interest: −$2,745
• − Property taxes: −$260
• − Insurance: −$245
• − Repairs & maintenance: −$1,700
• − Management: −$1,700
• − HOA: −$9,000
• − Depreciation: −$1,425
• Taxable income: $4,174
• Est. tax owed @ 24.0%: −$1,002
• After-tax cash flow: $3,196/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: Eagle Point SD 9
• NCES district ID: 4104500
• Math proficiency: 26% ▬ 0.00%
• Reading proficiency: 45% ▬ 0.00%
• Median HH income: $47,834
• Composite: 33.13/100
• National rank: #10630
• State rank: #134 of 183 in OR

Livability — Eagle Point

• Score: 76/100
• State rank: #75
• US rank: #3362

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eagle Point, OR
• Population (ZIP): 15,072

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 234,433 people
• By 2030: 243,834 · +4.0%
• By 2040: 259,717 · +10.8%
• By 2050: 273,269 · +16.6%
• By 2075: 300,624 · +28.2%
• By 2100: 305,256 · +30.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 10% Two or more races 6%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Italian 3% Portuguese 2% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 6%

Political lean MEDSL · Jackson

• 2024 margin: Lean R (+6.4) · D 45.5% · R 51.9% · Other 2.6%
• 2008→2024 swing: -6.5pp toward R · 2008: 0.1pp · 2024: -6.4pp
• All cycles: 2024: R+6.4 2020: R+3.5 2016: R+9.2 2012: R+5.0 2008: D+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -116.82%
• Current HPI: 304.579
• 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

• 2026-04-27 Listed $49,000 MLSCO

Property tax history

+4.1%/yr

Latest (2022): $260 · +5.7% YoY. Source: county tax records.