225 41st St #36 · Springfield, OR 97478

$55,000

2 bd · 1.0 ba · 720 sqft · Manufactured public records · 71 Days on market

Built 1971 $76/sqft · 61% below area $650/mo HOA · 44% of rent ↓ 7% since listing

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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 +26.4/30.0
• 1% rule +10.0/10.0
• DSCR +9.0/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Affordable living in a welcoming family park! This charming two bedroom, one bath manufacture home offers a private fenced backyard, ideal for children, pets or weekend barbecues. Space rent is just $650 per month and already includes garbage and internet, giving you comfort and savings in one package. With owner-carry terms available, this is a great opportunity to own your home with flexible financing.

Key facts

• Built 1971
• Listed 70 days

Tags

• PRIVATE FENCED BACKYARD

🏷️ Possibly a rental listed for sale. The $55,000 price doesn't fit this home's estimated sale value (~$140,781) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $55k.

Deal economics

• At list price, monthly cash flow is $144 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $52k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 3.0% in Springfield — 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 83/100 on livability (#40 in OR, #934 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: schools D+, crime D+, employment D+.
• Springfield SD 19 (suburban): math 19% / reading 38% proficiency, ranked #48 of 58 in OR (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+3.4%/yr); 263 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $380 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 + 3.4% rent growth), your $15k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($52k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 44% of rent.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $51,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 2.70% ✓
• Cap rate: 9.43%
• Cash-on-cash: 11.19%
• DSCR: 1.50
• GRM: 3.1

CMA / ARV

• ARV (median comp): $140,781
• List price: $55,000
• Delta: -60.93%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.38% rent growth · sell at horizon

5-year hold

• IRR: 2.0%
• Equity multiple: 1.08×
• Total profit: $1,224
• Equity at exit: $8,201

10-year hold

• IRR: 13.0%
• Equity multiple: 2.10×
• Total profit: $16,913
• Equity at exit: $4,755

Cash invested: $15,400 (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 97478

• Rents YoY: 3.4%
• Active inventory: 263
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,486 medium
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $825/yr
• Insurance: −$23
• HOA: −$650
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $144

Break-even live

Break-even rent $1,304

Max offer price $55,000

Occupancy floor 85%

Sensitivity live

Price	-10% $182	-5% $163	+0% $144	+5% $125	+10% $106
Rent	-10% $26	-5% $85	+0% $144	+5% $202	+10% $261
Rate	-1.0pp $171	-0.5pp $158	base $144	+0.5pp $129	+1.0pp $115

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4625 Main St Unit 8 Springfield, OR	2.0	1.0	650	$1,250	$1.92	15d	1	0.59mi
2665 C St Springfield, OR	2.0	1.0	572	$1,795	$3.14	15d	1	1.12mi
207 N 24th St Unit 209 Springfield, OR	1.0	1.0	670	$1,195	$1.78	22d	1	1.25mi

HOA detail

• Monthly dues: $650 · $7,800/yr
• Likely covers: trashinternet

Listing history 16 events

1. 2026-06-18
   days on market $55,000 Active 71 DOM
2. 2026-06-17
   days on market $55,000 Active 70 DOM
3. 2026-06-16
   days on market $55,000 Active 69 DOM
4. 2026-06-15
   days on market $55,000 Active 68 DOM
5. 2026-06-14
   days on market $55,000 Active 66 DOM
6. 2026-06-10
   days on market $55,000 Active 63 DOM
7. 2026-06-09
   days on market $55,000 Active 62 DOM
8. 2026-06-08
   days on market $55,000 Active 61 DOM
9. 2026-06-07
   days on market $55,000 Active 60 DOM
10. 2026-06-03
    days on market $55,000 Active 56 DOM
11. 2026-06-02
    days on market $55,000 Active 55 DOM
12. 2026-06-01
    days on market $55,000 Active 54 DOM
13. 2026-05-31
    days on market $55,000 Active 53 DOM
14. 2026-05-30
    days on market $55,000 Active 52 DOM
15. 2026-05-12
    price $55,000 407-char remark

    Show marketing remark (407 chars)

    Affordable living in a welcoming family park! This charming two bedroom, one bath manufacture home offers a private fenced backyard, ideal for children, pets or weekend barbecues. Space rent is just $650 per month and already includes garbage and internet, giving you comfort and savings in one package. With owner-carry terms available, this is a great opportunity to own your home with flexible financing.

16. 2026-04-08
    listed $59,000 Active 407-char remark

    Show marketing remark (407 chars)

    Affordable living in a welcoming family park! This charming two bedroom, one bath manufacture home offers a private fenced backyard, ideal for children, pets or weekend barbecues. Space rent is just $650 per month and already includes garbage and internet, giving you comfort and savings in one package. With owner-carry terms available, this is a great opportunity to own your home with flexible financing.

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 12% 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 16 unhealthy d/yr today · 19 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,828
• − Mortgage interest: −$3,081
• − Property taxes: −$825
• − Insurance: −$275
• − Repairs & maintenance: −$1,426
• − Management: −$1,426
• − HOA: −$7,800
• − Depreciation: −$1,600
• Taxable income: $1,395
• Est. tax owed @ 24.0%: −$335
• After-tax cash flow: $1,388/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: Springfield SD 19
• NCES district ID: 4111670
• Math proficiency: 19% ▼ -13.00%
• Reading proficiency: 38% ▼ -10.00%
• Median HH income: $42,236
• Composite: 24.14/100
• National rank: #7746
• State rank: #48 of 58 in OR

Livability — Springfield

• Score: 83/100
• State rank: #40
• US rank: #934

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Springfield, OR
• County: Lane County · 310,476 people
• City population: 76,907
• Metro: Eugene-Springfield, OR
• Population (ZIP): 39,373
• Household income: $80,086
• Rent vs Own: 31.0% rent · 69.0% own
• Severe rent burden: 904.0

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 12% Two or more races 9% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Slovak 4% Lithuanian 3% Portuguese 3%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 5% Tagalog/Filipino 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: ▼ -395.83%
• Current HPI: 302.9203
• Rent YoY: ▲ 3.38%
• 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

-6.8% since first listed

2 events — show timeline

• 2026-05-12 Price Changed $55,000 RMLS
• 2026-04-08 Listed $59,000 RMLS

Property tax history

-31.6%/yr

Latest (2015): $6 · +0.0% YoY. Source: county tax records.