1600 Rhododendron Dr #21 · Florence, OR 97439

$157,000

2 bd · 1.0 ba · 924 sqft · Manufactured public records · 73 Days on market

Built 1974 9,147 sqft lot $170/sqft · 34% below area Est $258k · 39% under $335/mo HOA · 20% of rent

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Why this score? — see what drove the C+ 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
• Cash flow +14.0/30.0
• Appreciation +10.0/10.0
• 1% rule +5.9/10.0
• DSCR +4.2/10.0
• Schools +3.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to the desirable Greentrees 55+ gated community! This 2-bedroom, 1-bath single-wide home offers comfort, functionality, and plenty of built-in storage throughout. Step into the bright living room featuring new laminate flooring installed in 2025, which continues into the kitchen and laundry area for a fresh, cohesive look. The sunken family room adds character, complete with built-in cabinetry and a large window that brings in abundant natural light. The primary bedroom includes convenient built-ins and direct access to the bathroom, while the second bedroom also offers built-in storage solutions. A dedicated laundry room comes equipped with a washer and dryer, along with additional cabinets for organization. The eat-in kitchen is designed for both everyday living, featuring an island, pantry, and ample cabinetry to meet all your storage needs. Outside, enjoy a terraced side yard with raised garden beds and space to expand your gardening vision. A small deck provides a cozy outdoor retreat, and a storage shed adds even more utility. This home combines practical features with inviting spaces—perfect for relaxed living in a welcoming community.

Key facts

• Built-in cabinetry
• Sunken family room
• Natural light

Tags

• BUILT-IN STORAGE
• NEW LAMINATE FLOORING
• SUNKEN FAMILY ROOM
• BUILT-IN CABINETRY
• NATURAL LIGHT
• DEDICATED LAUNDRY ROOM

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $157k.

Deal economics

• At list price, monthly cash flow is $19 ($228/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $157k).
• Recommended offer: $148k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.4% 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: 417 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 $17k of equity ($1k loan paydown + $16k 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 $44k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 24y 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 $49k; list at $157k implies a 220% gain — meaningful room to come down on a strong offer.

Recommended offer $147,580 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 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 1974 — 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. 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: 1.09% ✓
• Cap rate: 6.44%
• Cash-on-cash: 0.52%
• DSCR: 1.02
• GRM: 7.6

CMA / ARV

• ARV (median comp): $258,103
• List price: $157,000
• Delta: -39.17%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1600 Rhododendron Dr #131	0.00mi	2/1.0	924 (0%)	2mo	$180,000	$195	98
1600 Rhododendron Dr #171	0.00mi	2/1.0	924 (0%)	10mo	$250,000	$271	92
1600 Rhododendron Dr #103	0.00mi	2/2.0	938 (+2%)	6mo	$215,000	$229	89
1600 Rhododendron Dr #57	0.00mi	2/2.0	938 (+2%)	14mo	$185,000	$197	82
1600 Rhododendron Dr #91	0.00mi	2/1.0	1,008 (+9%)	10mo	$170,000	$169	76
1601 Rhododendron Dr #506	0.28mi	2/1.0	924 (0%)	18mo	$230,000	$249	72
1601 Rhododendron Dr W #516	0.28mi	2/2.0	924 (0%)	15mo	$285,000	$308	71
1600 Rhododendron Dr #275	0.00mi	2/2.0	1,022 (+11%)	17mo	$145,000	$142	64
1600 Rhododendron Dr #230	0.21mi	2/1.0	840 (-9%)	14mo	$125,000	$149	63
1601 Rhododendron Dr #657	0.28mi	2/2.0	960 (+4%)	17mo	$230,000	$240	62
1601 Rhododendron Dr #693	0.28mi	2/1.0	840 (-9%)	14mo	$295,000	$351	60
1600 Rhododendron Dr Unit SP 4	0.21mi	2/2.0	840 (-9%)	20mo	$170,000	$202	54

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: 24.7%
• Equity multiple: 2.98×
• Total profit: $86,896
• Equity at exit: $141,438

10-year hold

• IRR: 21.9%
• Equity multiple: 6.81×
• Total profit: $255,301
• Equity at exit: $305,016

Cash invested: $43,960 (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: 417
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,714 medium
• Mortgage (P&I): −$823
• Tax from tax record: −$112 /mo · $1,338/yr
• Insurance: −$65
• HOA: −$335
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $19

Break-even live

Break-even rent $1,690

Max offer price $157,000

Occupancy floor 94%

Sensitivity live

Price	-10% $108	-5% $63	+0% $19	+5% $-25	+10% $-70
Rent	-10% $-116	-5% $-49	+0% $19	+5% $87	+10% $154
Rate	-1.0pp $98	-0.5pp $59	base $19	+0.5pp $-22	+1.0pp $-63

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: $39,250
• Closing costs: $4,710
• Reserves months: —
• Total cash needed: —

HOA detail

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

Listing history 23 events

1. 2026-06-22
   days on market $157,000 Active 73 DOM
2. 2026-06-21
   days on market $157,000 Active 72 DOM
3. 2026-06-21
   days on market $157,000 Active 71 DOM
4. 2026-06-18
   price $157,000 Active 69 DOM
5. 2026-06-18
   days on market $165,000 Active 69 DOM
6. 2026-06-17
   days on market $165,000 Active 68 DOM
7. 2026-06-16
   days on market $165,000 Active 67 DOM
8. 2026-06-15
   days on market $165,000 Active 66 DOM
9. 2026-06-13
   days on market $165,000 Active 64 DOM
10. 2026-06-12
    days on market $165,000 Active 63 DOM
11. 2026-06-09
    days on market $165,000 Active 60 DOM
12. 2026-06-08
    days on market $165,000 Active 59 DOM
13. 2026-06-08
    days on market $165,000 Active 58 DOM
14. 2026-06-07
    days on market $165,000 Active 57 DOM
15. 2026-06-04
    days on market $165,000 Active 54 DOM
16. 2026-06-02
    days on market $165,000 Active 53 DOM
17. 2026-06-01
    days on market $165,000 Active 52 DOM
18. 2026-05-31
    days on market $165,000 Active 51 DOM
19. 2026-04-10
    listed $165,000 Active 1174-char remark

    Show marketing remark (1174 chars)

    Welcome to the desirable Greentrees 55+ gated community! This 2-bedroom, 1-bath single-wide home offers comfort, functionality, and plenty of built-in storage throughout. Step into the bright living room featuring new laminate flooring installed in 2025, which continues into the kitchen and laundry area for a fresh, cohesive look. The sunken family room adds character, complete with built-in cabinetry and a large window that brings in abundant natural light. The primary bedroom includes convenient built-ins and direct access to the bathroom, while the second bedroom also offers built-in storage solutions. A dedicated laundry room comes equipped with a washer and dryer, along with additional cabinets for organization. The eat-in kitchen is designed for both everyday living, featuring an island, pantry, and ample cabinetry to meet all your storage needs. Outside, enjoy a terraced side yard with raised garden beds and space to expand your gardening vision. A small deck provides a cozy outdoor retreat, and a storage shed adds even more utility. This home combines practical features with inviting spaces—perfect for relaxed living in a welcoming community.

20. 2003-04-07
    soldstatus $49,000
21. 2003-03-28
    soldstatus $49,000
22. 2002-12-13
    listed $49,000
23. 1992-08-05
    soldstatus $49,000

ⓘ 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: $1,338 · $112/mo
• Projected year-2 tax: $1,523 · $127/mo
• Expected delta: +$185/yr (+$15/mo · 13.8%)

ⓘ 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: $20,571
• − Mortgage interest: −$8,794
• − Property taxes: −$1,338
• − Insurance: −$785
• − Repairs & maintenance: −$1,646
• − Management: −$1,646
• − HOA: −$4,020
• − Depreciation: −$4,567
• Taxable loss: −$2,225
• Est. tax savings @ 24.0%: +$534
• After-tax cash flow: $762/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

+236.7% since first listed

5 events — show timeline

• 2026-04-10 Listed $165,000 RMLS
• 2003-04-07 Sold (Public Records) $49,000 Public Records
• 2003-03-28 Sold (MLS) $49,000 RMLS
• 2002-12-13 Listed $49,000 RMLS
• 1992-08-05 Sold (Public Records) $49,000 Public Records

Property tax history

+3.3%/yr

Latest (2025): $1,338 · +3.0% YoY. Source: county tax records.