1800 Lakewood Ct #140 · Eugene, OR 97402

$175,000

3 bd · 2.0 ba · 1,809 sqft · Manufactured public records · 80 Days on market

Built 1989 $97/sqft · at area comps Est $170k · at est.

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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
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• ARV discount +6.1/15.0
• 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

Enjoy modern updates and peaceful views in this refreshed manufactured home. Features include newer LVP flooring, painted cabinets, vinyl windows, and a newer roof. The open layout offers comfortable living, while the spacious deck overlooking the lake creates the perfect spot to unwind. A spacious shop adds valuable storage, workspace, or hobby potential. This home is move-in-ready and full of charm in a welcoming community.

Key facts

• Vinyl windows
• Painted cabinets
• Newer roof

Tags

• NEWER LVP FLOORING
• PAINTED CABINETS
• VINYL WINDOWS
• NEWER ROOF
• SPACIOUS DECK
• OVERLOOKING THE LAKE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $175k.

Deal economics

• At list price, monthly cash flow is $685 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $164k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.0% 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.
• Zoned schools: Malabon Elementary School (math 15% / reading 34%, grade F, #309 of 412 statewide, top 77%, 346 students, 66% FRL); Cascade Middle School (math 17% / reading 32%, grade F, #108 of 128 statewide, top 89%, 342 students, 65% FRL); Willamette High School (math 24% / reading 50%, grade F, #85 of 143 statewide, top 61%, 1,516 students, 35% FRL).
• Market conditions: Rents rising (+1.6%/yr); 302 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).
• At $2,266/mo this rent would consume 47% of the median local household income ($58k/yr) (locally 3142% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $49k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $58k; list at $175k implies a 204% gain — meaningful room to come down on a strong offer.

Recommended offer $164,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% 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: 1.29% ✓
• Cap rate: 10.99%
• Cash-on-cash: 16.78%
• DSCR: 1.75
• GRM: 6.4

CMA / ARV

• ARV (median comp): $169,635
• List price: $175,000
• Delta: 3.16%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1800 Lakewood Ct #139	0.00mi	2/2.0 (-1)	1,620 (-10%)	11mo	$159,000	$98	68
1385 Taney St	0.35mi	4/2.0 (+1)	2,053 (+14%)	3mo	$379,999	$185	54
1343 Taft St	0.23mi	4/2.0 (+1)	1,539 (-15%)	9mo	$375,000	$244	52

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: 6.4%
• Equity multiple: 1.25×
• Total profit: $12,070
• Equity at exit: $26,093

10-year hold

• IRR: 14.5%
• Equity multiple: 2.10×
• Total profit: $53,864
• Equity at exit: $15,131

Cash invested: $49,000 (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 97402

• Rents YoY: 1.6%
• Active inventory: 302
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $2,266 high
• Mortgage (P&I): −$918
• Tax from tax record: −$114 /mo · $1,369/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$476
• Net cashflow: $685

Break-even live

Break-even rent $1,398

Max offer price $175,000

Occupancy floor 65%

Sensitivity live

Price	-10% $784	-5% $735	+0% $685	+5% $636	+10% $586
Rent	-10% $506	-5% $596	+0% $685	+5% $775	+10% $864
Rate	-1.0pp $773	-0.5pp $730	base $685	+0.5pp $640	+1.0pp $594

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4057 Concord St Eugene, OR	4.0	1.0	1800	$2,000	$1.11	45d	1	0.51mi
3466 Royal Ave Eugene, OR	3.0	2.0	1604	$2,550	$1.59	22d	1	0.72mi
1642 Zoe Ave Eugene, OR	3.0	2.5	1395	$2,695	$1.93	22d	1	0.80mi
1846 Labona Dr Eugene, OR	3.0	2.0	1501	$2,500	$1.67	15d	1	0.93mi
128 Chase St Eugene, OR	2.0	1.5	1378	$1,895	$1.38	45d	1	1.18mi
2106 Golden Gardens St Eugene, OR	3.0	1.0	1410	$1,995	$1.41	45d	1	1.22mi

Listing history 20 events

1. 2026-06-21
   days on market $175,000 Active 80 DOM
2. 2026-06-18
   days on market $175,000 Active 77 DOM
3. 2026-06-17
   days on market $175,000 Active 76 DOM
4. 2026-06-16
   days on market $175,000 Active 75 DOM
5. 2026-06-15
   days on market $175,000 Active 74 DOM
6. 2026-06-14
   days on market $175,000 Active 72 DOM
7. 2026-06-10
   days on market $175,000 Active 69 DOM
8. 2026-06-09
   days on market $175,000 Active 68 DOM
9. 2026-06-08
   days on market $175,000 Active 67 DOM
10. 2026-06-07
    days on market $175,000 Active 66 DOM
11. 2026-06-03
    days on market $175,000 Active 62 DOM
12. 2026-06-02
    days on market $175,000 Active 61 DOM
13. 2026-06-01
    days on market $175,000 Active 60 DOM
14. 2026-05-31
    days on market $175,000 Active 59 DOM
15. 2026-05-30
    days on market $175,000 Active 58 DOM
16. 2026-05-06
    price $175,000 429-char remark

    Show marketing remark (429 chars)

    Enjoy modern updates and peaceful views in this refreshed manufactured home. Features include newer LVP flooring, painted cabinets, vinyl windows, and a newer roof. The open layout offers comfortable living, while the spacious deck overlooking the lake creates the perfect spot to unwind. A spacious shop adds valuable storage, workspace, or hobby potential. This home is move-in-ready and full of charm in a welcoming community.

17. 2026-04-02
    listed $185,000 Active 429-char remark

    Show marketing remark (429 chars)

    Enjoy modern updates and peaceful views in this refreshed manufactured home. Features include newer LVP flooring, painted cabinets, vinyl windows, and a newer roof. The open layout offers comfortable living, while the spacious deck overlooking the lake creates the perfect spot to unwind. A spacious shop adds valuable storage, workspace, or hobby potential. This home is move-in-ready and full of charm in a welcoming community.

18. 2014-07-09
    soldstatus $57,500 Sold 143-char remark

    Show marketing remark (143 chars)

    Lrg. 1989 Buckingham double wide of approx. 1809 sq ft. Exciting location right on the lake. Many upgrades regarding plumbing & appliances.

19. 2014-07-01
    historical 143-char remark

    Show marketing remark (143 chars)

    Lrg. 1989 Buckingham double wide of approx. 1809 sq ft. Exciting location right on the lake. Many upgrades regarding plumbing & appliances.

20. 2014-06-30
    listed $63,000 143-char remark

    Show marketing remark (143 chars)

    Lrg. 1989 Buckingham double wide of approx. 1809 sq ft. Exciting location right on the lake. Many upgrades regarding plumbing & appliances.

ⓘ 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: $1,369 · $114/mo
• Projected year-2 tax: $1,698 · $141/mo
• Expected delta: +$328/yr (+$27/mo · 24.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥92°F today · 14 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: $27,191
• − Mortgage interest: −$9,803
• − Property taxes: −$1,369
• − Insurance: −$875
• − Repairs & maintenance: −$2,175
• − Management: −$2,175
• − Depreciation: −$5,091
• Taxable income: $5,703
• Est. tax owed @ 24.0%: −$1,369
• After-tax cash flow: $6,856/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

+177.8% since first listed

5 events — show timeline

• 2026-05-06 Price Changed $175,000 RMLS
• 2026-04-02 Listed $185,000 RMLS
• 2014-07-09 Sold (MLS) $57,500 RMLS
• 2014-07-01 Delisted — RMLS
• 2014-06-30 Listed $63,000 RMLS

Property tax history

+3.3%/yr

Latest (2025): $1,369 · +2.6% YoY. Source: county tax records.