87735 Highway 101 #1 · Heceta Beach, OR 97439

$50,000

2 bd · 1.0 ba · 672 sqft · Manufactured public records · 14 Days on market

Built 1972 Est $45k · 11% over $715/mo HOA · 46% 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 +29.2/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Schools +3.7/10.0
• ARV discount +2.5/15.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to this affordable 2-bedroom, 1-bath manufactured home in a quiet, owner-occupied park. Thoughtfully maintained, this home features a spacious covered deck, fenced yard, and a large detached shed divided into three separate areas—perfect for storage, hobbies, or a workshop setup. Updates in 2022 include fresh interior paint, new vinyl flooring in key areas, and a new roof. Washer, dryer, and refrigerator are included. Home is being sold as-is. Monthly space rent is $685 and covers water, garbage, and septic. Park amenities include green space, picnic tables, restrooms, showers, and laundry facilities. Buyer must be approved by park management prior to closing. Shown by appointment only—schedule your private tour today!

Key facts

• Built 1972
• Listed 14 days

Property features AI

Finance

• Other: Lot size in park: under 3,000 sq ft (park space); Lot listed as level; Lot rent listed as one-time (per listing data)
• HOA & community: Part of Rhododendron Park community; Monthly association fee of $715; Association covers water, sewer, and trash

Exterior

• Parking: Driveway parking; On-street parking
• Security: No security features listed
• Utilities: Electricity for fuel; Public water; Public sewer
• Home design: Manufactured home in park; Residential resale; City view
• Construction: Built in 1972; Metal siding; Membrane roof; Block foundation with skirting
• Exterior features: Covered patio; Fenced yard; Porch; Tool shed; Workshop; Yard; Public road access; Paved road

Interior

• Kitchen: Free-standing range; Free-standing refrigerator
• Bedrooms: Primary bedroom (main level); Second bedroom (main level)
• Flooring: Vinyl; Wall-to-wall carpet
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating; No cooling system listed
• Interior features: One-level accessibility; Vinyl flooring; Wall-to-wall carpet; Aluminum window frames; Washer/Dryer included
• Laundry & utility: Washer and dryer present

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $50k.

Deal economics

• At list price, monthly cash flow is $174 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Cap rate 10.5% vs local median 1.9% in Heceta Beach — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Siuslaw SD 97J (town): math 33% / reading 50% proficiency, ranked #106 of 183 in OR (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Siuslaw Elementary School (math 22% / reading 37%, grade F, #263 of 412 statewide, top 68%, 520 students, 68% FRL); Siuslaw Middle School (math 15% / reading 37%, grade F, #101 of 128 statewide, top 80%, 270 students, 68% FRL); Siuslaw High School (math 24% / reading 75%, grade D+, #32 of 143 statewide, top 34%, 459 students, 68% FRL).
• Market conditions: 406 active listings in the ZIP; 1,808 units permitted in Lane County in 2024 (972 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($346 loan paydown + $5k appreciation (10.0% local appreciation)).
• Lane County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 13y ago; this cycle's ask has dropped $10k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 46% of rent.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $50,000

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 3.13% ✓
• Cap rate: 10.47%
• Cash-on-cash: 14.92%
• DSCR: 1.66
• GRM: 2.7

CMA / ARV

• ARV (on-the-fly): $45,024
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
87735 Highway 101 #1	0.00mi	2/1.0	672 (0%)	12mo	$45,000	$67	90
87675 Highway 101 #5	0.08mi	2/2.0	684 (+2%)	3mo	$22,000	$32	87

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 35.6%
• Equity multiple: 3.77×
• Total profit: $38,784
• Equity at exit: $45,044

10-year hold

• IRR: 30.9%
• Equity multiple: 8.60×
• Total profit: $106,411
• Equity at exit: $97,139

Cash invested: $14,000 (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 97439

• Home prices YoY: 2.5%
• Active inventory: 406
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,563 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• HOA: −$715
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $174

Break-even live

Break-even rent $1,342

Max offer price $50,000

Occupancy floor 84%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $715 · $8,580/yr
• Likely covers: watertrash

Listing history 12 events

1. 2026-06-18
   days on market $50,000 Active 14 DOM
2. 2026-06-18
   price $50,000 Active 13 DOM
3. 2026-06-17
   days on market $60,000 Active 13 DOM
4. 2026-06-16
   days on market $60,000 Active 12 DOM
5. 2026-06-15
   days on market $60,000 Active 11 DOM
6. 2026-06-13
   days on market $60,000 Active 9 DOM
7. 2026-06-12
   days on market $60,000 Active 8 DOM
8. 2026-06-09
   days on market $60,000 Active 5 DOM
9. 2026-06-08
   days on market $60,000 Active 4 DOM
10. 2026-06-08
    days on market $60,000 Active 3 DOM
11. 2026-06-07
    remarks 699-char remark
12. 2026-06-07
    listed $60,000 Active 2 DOM

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 71% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥77°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,754
• − Mortgage interest: −$2,801
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$1,500
• − Management: −$1,500
• − HOA: −$8,580
• − Depreciation: −$1,455
• Taxable income: $1,918
• Est. tax owed @ 24.0%: −$460
• After-tax cash flow: $1,629/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: Siuslaw SD 97J
• NCES district ID: 4105100
• Math proficiency: 33% ▼ -3.00%
• Reading proficiency: 50% ▼ -2.00%
• Median HH income: $36,892
• Composite: 36.82/100
• National rank: #9169
• State rank: #106 of 183 in OR

Livability — Heceta Beach

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Heceta Beach, OR
• Population (ZIP): 15,643

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 5% Two or more races 5% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 4% Portuguese 3% Slovak 3%
• Foreign-born: 5% · Canada, China
• Languages at home: 96% English-only · Spanish 1% German/W. Germanic 1% Other Asian/Pacific 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: ▲ 17.79%
• Current HPI: 717.84
• 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

+574.2% since first listed

11 events — show timeline

• 2026-06-04 Listed $60,000 RMLS
• 2025-06-23 Sold (MLS) $45,000 RMLS
• 2025-06-01 Pending — RMLS
• 2025-05-30 Listed $45,000 RMLS
• 2022-08-18 Sold (MLS) $58,000 RMLS
• 2022-07-30 Pending — RMLS
• 2022-07-23 Pending — RMLS
• 2022-07-18 Listed $52,000 RMLS
• 2013-07-02 Sold (MLS) $8,500 RMLS
• 2013-06-25 Pending — RMLS
• 2013-06-07 Listed $8,900 RMLS

Property tax history

-37.0%/yr

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