1600 Rhododendron Dr #415 · Florence, OR 97439

$249,900

3 bd · 2.0 ba · 1,440 sqft · Manufactured public records · 43 Days on market

Built 1977 6,969 sqft lot Est $340k · 26% under $335/mo HOA · 18% of rent

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +6.6/30.0
• Schools +3.7/10.0
• Livability +3.5/5.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.8/10.0

Listing remarks

This spacious home in Greentrees needs a little TLC, but has vinyl windows, some new flooring and a brand new roof. It has lots of parking and an oversized garage with an enclosed room at the back of the garage. Some of the park amenities include Spectrum internet and cable, water, sewer, trash pick up, pool hot tub and sauna, pickleball courts, and use of the exercise and clubhouse. Don't miss it!

Key facts

• Vinyl windows
• Pool hot tub
• New flooring

Tags

• VINYL WINDOWS
• NEW FLOORING
• NEW ROOF
• OVERSIZED GARAGE
• ENCLOSED ROOM
• POOL HOT TUB

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $250k.

Deal economics

• At list price, monthly cash flow is $-416 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $176k (29.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $190k (24.2% below list).
• Recommended offer: $176k (29.4% below list) — sets the bar for cash-flow.
• Cap rate 4.3% vs local median 2.6% in Florence — 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 70/100 on livability (#142 in OR) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing A, crime A-; Watch: employment C-, amenities F, commute F.
• 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 comparable units currently listed for rent nearby; 1,808 units permitted in Lane County in 2024 (972 in 5+ unit buildings).

Forward outlook

• In year one you build about $27k of equity ($2k loan paydown + $25k appreciation (10.0% local appreciation)).
• Lane County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $200k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $176,497 (29.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
3. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.76% ✗
• Cap rate: 4.30%
• Cash-on-cash: -7.13%
• DSCR: 0.68
• GRM: 11.0

CMA / ARV

• ARV (on-the-fly): $339,840
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1600 Rhododendron Dr #412	0.00mi	2/2.0 (-1)	1,393 (-3%)	9mo	$358,000	$257	82
1600 Rhododendron Dr #219	0.00mi	3/2.0	1,522 (+6%)	10mo	$359,000	$236	82
1600 Rhododendron Dr #150	0.00mi	3/2.0	1,300 (-10%)	3mo	$325,000	$250	82
1601 Rhododendron Dr #521	0.28mi	2/2.0 (-1)	1,440 (0%)	5mo	$310,000	$215	78
1600 Rhododendron Dr #17	0.00mi	3/2.0	1,620 (+12%)	14mo	$410,000	$253	68
1601 Rhododendron Dr #523	0.28mi	3/2.0	1,296 (-10%)	9mo	$324,000	$250	63
1600 Rhododendron Dr #112	0.00mi	2/1.0 (-1)	1,226 (-15%)	6mo	$273,000	$223	62
1601 Rhododendron Dr #610	0.28mi	2/3.0 (-1)	1,536 (+7%)	7mo	$325,000	$212	61
1600 Rhododendron Dr #198	0.00mi	3/1.0	1,236 (-14%)	16mo	$175,000	$142	59
1601 Rhododendron Dr #557	0.28mi	2/2.0 (-1)	1,536 (+7%)	16mo	$475,000	$309	58
1601 Rhododendron Dr #531	0.28mi	2/2.0 (-1)	1,248 (-13%)	9mo	$280,000	$224	52
1601 Rhododendron Dr #635	0.28mi	2/2.0 (-1)	1,600 (+11%)	14mo	$362,000	$226	52

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: 19.3%
• Equity multiple: 2.57×
• Total profit: $109,780
• Equity at exit: $225,130

10-year hold

• IRR: 17.8%
• Equity multiple: 5.92×
• Total profit: $344,380
• Equity at exit: $485,501

Cash invested: $69,972 (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: 11.0×

Monthly cashflow live

• Estimated rent: $1,895 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$163 /mo · $1,955/yr
• Insurance: −$104
• HOA: −$335
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $-416

Break-even live

Break-even rent $2,421

Max offer price $176,497

Occupancy floor —

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
485 Myeena Loop Florence, OR	2.0	2.0	1790	$1,895	$1.06	43d	1	1.29mi

HOA detail

• Monthly dues: $335 · $4,020/yr
• Likely covers: watersewertrashinternetcablepool

Listing history 5 events

1. 2026-04-23
   status Pending
2. 2026-04-16
   price $249,900
3. 2026-03-11
   listed $275,000 Active
4. 2021-09-15
   soldstatus $200,000
5. 1987-02-10
   soldstatus $62,500

ⓘ 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: $1,955 · $163/mo
• Projected year-2 tax: $2,424 · $202/mo
• Expected delta: +$469/yr (+$39/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 1/10 Low 7 d/yr ≥77°F today · 18 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: $22,740
• − Mortgage interest: −$13,998
• − Property taxes: −$1,955
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,819
• − Management: −$1,819
• − HOA: −$4,020
• − Depreciation: −$7,270
• Taxable loss: −$9,391
• Est. tax savings @ 24.0%: +$2,254
• After-tax cash flow: $-2,732/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 — Florence

• Score: 70/100
• State rank: #142
• US rank: #8094

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Florence, 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

+299.8% since first listed

5 events — show timeline

• 2026-04-23 Pending — RMLS
• 2026-04-16 Price Changed $249,900 RMLS
• 2026-03-11 Listed $275,000 RMLS
• 2021-09-15 Sold (Public Records) $200,000 Public Records
• 1987-02-10 Sold (Public Records) $62,500 Public Records

Property tax history

+2.3%/yr

Latest (2025): $1,955 · +3.0% YoY. Source: county tax records.