501 Division Ave #15 · Eugene, OR 97404

$19,999

2 bd · 1.0 ba · 840 sqft · Manufactured public records · 3 Days on market

Built 1980

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great manufactured home in Lee's Mobil Home +55 Park. This 840 sqft manufactured home is in excellent condition inside and out. New roof in 2013, new exterior paint and gutters in 2012, fully applianced kitchen including a one year old dishwasher. This home has been very well cared for and maintained, don't miss this opportunity.

Key facts

• Move-in ready
• Ideally located
• Built 1980

Tags

• MOVE-IN READY
• ALL APPLIANCES INCLUDED
• METICULOUSLY MAINTAINED
• IDEALLY LOCATED

Property features AI

Finance

• Financial info: Land lease (monthly lot rent $720) — lease expires December 31, 2026
• HOA & community: Park amenities include water and sewer; Located in Lee's Mobil home park; Senior community

Exterior

• Parking: Covered carport
• Utilities: Public water; Public sewer; Electric service
• Home design: Manufactured home in a park (residential, resale); Single‑story (main level living); No view; Manufacturer: Ridgw
• Construction: Built in 1980; Pillar/post/pier foundation
• Exterior features: Metal siding; Corner, level lot; Concrete and paved road access; Membrane roof

Interior

• Kitchen: Dishwasher; Free‑standing range; Free‑standing refrigerator; Electric hot water
• Bedrooms: Primary bedroom on main level; Second bedroom on main level
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Forced air heating; Heat pump (heating and cooling)
• Interior features: Accessible approach with ramp; Laundry area; Vinyl window frames
• Laundry & utility: Laundry area (in unit)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $20k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $20k).
• Cap rate 80.1% 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-.
• Eugene SD 4J (urban): math 45% / reading 55% proficiency, ranked #10 of 58 in OR (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Awbrey Park Elementary School (math 30% / reading 50%, grade F, #169 of 412 statewide, top 44%, 427 students, 64% FRL); Madison Middle School (math 32% / reading 42%, grade F, #50 of 128 statewide, top 41%, 415 students, 65% FRL); North Eugene High School (1,071 students, 63% FRL) — zoned schools average 64% FRL vs 37% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.4%/yr); 169 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $138 of loan paydown is wiped out by about $600 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 11y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $11k; list at $20k implies a 82% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $19,999

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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?
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: 8.66% ✓
• Cap rate: 80.12%
• Cash-on-cash: 263.68%
• DSCR: 12.73
• GRM: 1.0

CMA / ARV

• ARV (on-the-fly): $40,320
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
501 Division Ave #15	0.00mi	2/1.0	840 (0%)	0mo	$19,999	$24	100
501 Division Ave #20	0.00mi	2/1.0	740 (-12%)	2mo	$23,000	$31	78
501 Division Ave #43	0.00mi	2/1.0	768 (-9%)	14mo	$32,000	$42	74
501 Division Ave #38	0.00mi	2/1.0	784 (-7%)	18mo	$43,500	$55	74
501 Division Ave #19	0.00mi	2/1.0	720 (-14%)	12mo	$34,500	$48	66
501 Division Ave #69	0.00mi	2/2.0	960 (+14%)	13mo	$55,000	$57	61

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 · 3.43% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 14.56×
• Total profit: $75,905
• Equity at exit: $2,982

10-year hold

• IRR: —
• Equity multiple: 31.40×
• Total profit: $170,228
• Equity at exit: $1,729

Cash invested: $5,600 (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 97404

• Rents YoY: 3.4%
• Active inventory: 169
• Price-to-rent: 1.0×

Monthly cashflow live

• Estimated rent: $1,732 high
• Mortgage (P&I): −$105
• Tax est. 1.5%: −$25 /mo · $300/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $1,230

Break-even live

Break-even rent $175

Max offer price $19,999

Occupancy floor 24%

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: $5,000
• Closing costs: $600
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
130 River Ave Eugene, OR	1.0–2.0	1.0–1.5	848	$1,600	$1.89	13d	20	0.43mi
55 Corliss Ln Unit 2468 Eugene, OR	2.0	1.5	960	$1,400	$1.46	43d	1	0.56mi
123 Green Ln Unit 125 Eugene, OR	3.0	1.5	1100	$1,450	$1.32	43d	1	0.56mi
26 Owosso Dr Eugene, OR	2.0	1.5	830	$1,495	$1.80	43d	2	0.66mi
1711 River Rd Unit 1 Eugene, OR	1.0	1.0	684	$1,500	$2.19	43d	1	0.67mi
3570 Goodpasture Loop Eugene, OR	2.0	2.0	1000	$1,999	$2.00	43d	1	0.67mi
15 Kourt Dr Eugene, OR	2.0	1.0	800	$1,595	$1.99	43d	1	0.67mi
1711 River Rd Eugene, OR	1.0	1.0	684	$1,500	$2.19	21d	1	0.68mi
1711 River Rd Unit 04 Eugene, OR	1.0	1.0	684	$1,495	$2.19	21d	1	0.68mi
60 Kourt Dr Unit 60 Eugene, OR	2.0	1.0	900	$1,395	$1.55	21d	1	0.71mi
2558 River Rd #362 Eugene, OR	2.0	1.5	950	$1,495	$1.57	43d	1	0.73mi
3610 Goodpasture Loop Eugene, OR	1.0–2.0	1.0–2.0	802	$2,299	$2.87	13d	15	0.78mi
3950 Goodpasture Loop Eugene, OR	1.0	1.0	634	$1,564	$2.46	13d	5	0.86mi
60 Hatton Ave Eugene, OR	1.0–2.0	1.0–2.0	844	$1,970	$2.33	13d	11	0.94mi
394 Rosewood Ave Eugene, OR	2.0	2.0	850	$1,895	$2.23	13d	1	1.05mi
330 Howard Ave Unit A Eugene, OR	1.0	1.0	600	$1,199	$2.00	21d	1	1.07mi
355 Irving Rd Unit 353 Eugene, OR	1.0	1.0	600	$1,295	$2.16	21d	1	1.12mi
1150 Darlene Ln Eugene, OR	1.0–2.0	1.0–2.5	924	$2,285	$2.47	13d	16	1.20mi
1440 John Day Dr Eugene, OR	1.0–3.0	1.0–2.5	1050	$2,349	$2.24	13d	38	1.30mi
1844 Happy Ln Eugene, OR	1.0	1.0–2.0	1040	$1,692	$1.63	13d	5	1.41mi
470 Alexander Loop Eugene, OR	2.0	1.0–2.0	708	$1,774	$2.51	13d	15	1.42mi
1367 Umpqua Ave Eugene, OR	1.0–2.0	1.0–2.0	850	$2,675	$3.15	13d	46	1.42mi
519 Cinderella Loop Unit 525 Eugene, OR	3.0	1.5	1050	$1,995	$1.90	43d	1	1.46mi
525 Cinderella Loop Unit 525 Eugene, OR	3.0	1.5	1100	$1,995	$1.81	43d	1	1.46mi
568 Cinderella Loop Eugene, OR	2.0	1.0	1074	$1,750	$1.63	13d	1	1.47mi
593 Cinderella Loop Eugene, OR	2.0	1.5	880	$1,650	$1.88	13d	1	1.49mi
2300 Norkenzie Rd Eugene, OR	2.0	1.5	980	$1,445	$1.47	43d	1	1.49mi

Listing history 5 events

1. 2026-06-07
   statusdays on market $19,999 Pending 3 DOM
2. 2026-06-05
   days on market $19,999 Active 2 DOM
3. 2026-06-03
   remarks 456-char remark
4. 2026-06-03
   remarks 443-char remark
5. 2026-06-03
   listed $19,999 Active 1 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 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 13 unhealthy d/yr today · 15 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,789
• − Mortgage interest: −$1,120
• − Property taxes: −$300
• − Insurance: −$100
• − Repairs & maintenance: −$1,663
• − Management: −$1,663
• − Depreciation: −$582
• Taxable income: $15,361
• Est. tax owed @ 24.0%: −$3,687
• After-tax cash flow: $11,078/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: Eugene SD 4J
• NCES district ID: 4104740
• Math proficiency: 45% ▼ -2.00%
• Reading proficiency: 55% ▼ -4.00%
• Median HH income: $43,688
• Composite: 42.15/100
• National rank: #3302
• State rank: #10 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): 34,244
• Household income: $86,776
• Rent vs Own: 29.1% rent · 70.9% own
• Severe rent burden: 1056.0

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 (80%)
• Race & ethnicity: White 80% Hispanic / Latino 10% Two or more races 9% Asian 2% Black 1% Native American 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Portuguese 4% Italian 4% Slovak 3%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 5% 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: ▼ -523.41%
• Current HPI: 294.7988
• Rent YoY: ▲ 3.43%
• 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

+55.0% since first listed

8 events — show timeline

• 2026-06-01 Listed $19,999 RMLS
• 2017-01-06 Sold (MLS) $11,000 RMLS
• 2016-12-28 Pending — RMLS
• 2016-12-13 Listed $12,000 RMLS
• 2015-12-17 Sold (MLS) $10,500 RMLS
• 2015-12-09 Pending — RMLS
• 2015-11-23 Price Changed $11,500 RMLS
• 2015-11-19 Listed $12,900 RMLS

Property tax history

-39.7%/yr

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