300 SE Goodnight Ave #83 · Corvallis, OR 97333

$80,000

2 bd · 2.0 ba · 1,566 sqft · Manufactured public records · 205 Days on market

Built 1978 $51/sqft · 47% below area Est $120k · 33% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.9/10.0
• Livability +4.1/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move-in ready and beautifully updated, this home features a bright open floor plan with modern finishes throughout. The spacious living and dining areas include fresh paint, updated flooring, and plenty of natural light. The kitchen offers great counter space, bar seating, and plenty of cabinet storage, making it ideal for cooking and entertaining. The primary bedroom is generously sized with a large closet and a remodeled en suite bathroom that includes an updated vanity area and a clean, refreshed shower setup. The additional bedrooms are versatile and work well for guests, kids, or a home office. The second bathroom also features modern updates and a bright, clean shower and tub combination.Outside, you will enjoy the cozy covered patio, fully fenced yard, and welcoming front porch. Recent improvements include new flooring, updated bathrooms, mini split heating and cooling, and refreshed interior design. This home is stylish, comfortable, and move in ready.

Key facts

• Open floor plan
• Cabinet storage
• Modern finishes

Tags

• OPEN FLOOR PLAN
• MODERN FINISHES
• GREAT COUNTER SPACE
• BAR SEATING
• CABINET STORAGE
• REMODELED EN SUITE BATHROOM

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $80k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 23.9% vs local median 2.6% in Corvallis — 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 82/100 on livability (#45 in OR, #1,113 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: cost of living F.
• Corvallis SD 509J (urban): math 49% / reading 62% proficiency, ranked #15 of 183 in OR (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+2.6%/yr); 87 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 116 units permitted in Benton County in 2024 (0 in 5+ unit buildings).
• This rent runs 39% of the median local income ($65k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Benton County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.6% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 205 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 16y ago; this cycle's ask has dropped $25k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $80k implies a 302% gain — meaningful room to come down on a strong offer.

Recommended offer $70,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 205 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-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?
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: 2.63% ✓
• Cap rate: 23.95%
• Cash-on-cash: 63.06%
• DSCR: 3.81
• GRM: 3.2

CMA / ARV

• ARV (median comp): $120,000
• List price: $80,000
• Delta: -33.33%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
300 SE Goodnight Ave #29	0.00mi	3/2.0 (+1)	1,344 (-14%)	10mo	$119,000	$89	63
413 SW Butterfield Pl	0.72mi	3/2.0 (+1)	1,456 (-7%)	4mo	$413,000	$284	46

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 · 2.63% rent growth · sell at horizon

5-year hold

• IRR: 61.6%
• Equity multiple: 3.73×
• Total profit: $61,213
• Equity at exit: $11,928

10-year hold

• IRR: 66.1%
• Equity multiple: 7.55×
• Total profit: $146,617
• Equity at exit: $6,917

Cash invested: $22,400 (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 97333

• Rents YoY: 2.6%
• Active inventory: 87
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $2,108 high
• Mortgage (P&I): −$420
• Tax from tax record: −$35 /mo · $422/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$443
• Net cashflow: $1,177

Break-even live

Break-even rent $618

Max offer price $80,000

Occupancy floor 39%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
163 SE Partridge Dr Corvallis, OR	3.0	2.0	1262	$2,395	$1.90	43d	1	0.07mi
900 SE Centerpointe Dr Corvallis, OR	1.0–3.0	1.0–2.0	952	$1,662	$1.74	43d	1	0.37mi
3460 SE Midvale Dr Corvallis, OR	1.0–3.0	1.0–1.5	858	$1,610	$1.88	43d	1	0.46mi
100 SE Viewmont Ave Unit 110-A Corvallis, OR	2.0	1.5	1080	$1,550	$1.44	43d	1	0.53mi
145 SE Mayberry Ave Corvallis, OR	3.0	2.0	1344	$2,400	$1.79	43d	1	0.78mi
142 SE Atwood Ave Corvallis, OR	3.0	1.5	1454	$1,995	$1.37	43d	1	0.93mi

Listing history 23 events

1. 2026-06-19
   days on market $80,000 Active 205 DOM
2. 2026-06-18
   days on market $80,000 Active 204 DOM
3. 2026-06-17
   days on market $80,000 Active 203 DOM
4. 2026-06-16
   days on market $80,000 Active 202 DOM
5. 2026-06-15
   days on market $80,000 Active 201 DOM
6. 2026-06-14
   pricedays on market $80,000 Active 199 DOM
7. 2026-06-10
   days on market $89,999 Active 196 DOM
8. 2026-06-09
   days on market $89,999 Active 195 DOM
9. 2026-06-08
   days on market $89,999 Active 194 DOM
10. 2026-06-07
    days on market $89,999 Active 193 DOM
11. 2026-06-05
    days on market $89,999 Active 190 DOM
12. 2026-06-03
    days on market $89,999 Active 189 DOM
13. 2026-06-02
    days on market $89,999 Active 188 DOM
14. 2026-06-01
    days on market $89,999 Active 187 DOM
15. 2026-05-31
    days on market $89,999 Active 186 DOM
16. 2026-05-30
    days on market $89,999 Active 185 DOM
17. 2026-03-10
    price $89,999 974-char remark

    Show marketing remark (974 chars)

    Move-in ready and beautifully updated, this home features a bright open floor plan with modern finishes throughout. The spacious living and dining areas include fresh paint, updated flooring, and plenty of natural light. The kitchen offers great counter space, bar seating, and plenty of cabinet storage, making it ideal for cooking and entertaining. The primary bedroom is generously sized with a large closet and a remodeled en suite bathroom that includes an updated vanity area and a clean, refreshed shower setup. The additional bedrooms are versatile and work well for guests, kids, or a home office. The second bathroom also features modern updates and a bright, clean shower and tub combination.Outside, you will enjoy the cozy covered patio, fully fenced yard, and welcoming front porch. Recent improvements include new flooring, updated bathrooms, mini split heating and cooling, and refreshed interior design. This home is stylish, comfortable, and move in ready.

18. 2026-01-09
    price $99,999 974-char remark

    Show marketing remark (974 chars)

    Move-in ready and beautifully updated, this home features a bright open floor plan with modern finishes throughout. The spacious living and dining areas include fresh paint, updated flooring, and plenty of natural light. The kitchen offers great counter space, bar seating, and plenty of cabinet storage, making it ideal for cooking and entertaining. The primary bedroom is generously sized with a large closet and a remodeled en suite bathroom that includes an updated vanity area and a clean, refreshed shower setup. The additional bedrooms are versatile and work well for guests, kids, or a home office. The second bathroom also features modern updates and a bright, clean shower and tub combination.Outside, you will enjoy the cozy covered patio, fully fenced yard, and welcoming front porch. Recent improvements include new flooring, updated bathrooms, mini split heating and cooling, and refreshed interior design. This home is stylish, comfortable, and move in ready.

19. 2025-11-26
    listed $105,000 Active 974-char remark

    Show marketing remark (974 chars)

    Move-in ready and beautifully updated, this home features a bright open floor plan with modern finishes throughout. The spacious living and dining areas include fresh paint, updated flooring, and plenty of natural light. The kitchen offers great counter space, bar seating, and plenty of cabinet storage, making it ideal for cooking and entertaining. The primary bedroom is generously sized with a large closet and a remodeled en suite bathroom that includes an updated vanity area and a clean, refreshed shower setup. The additional bedrooms are versatile and work well for guests, kids, or a home office. The second bathroom also features modern updates and a bright, clean shower and tub combination.Outside, you will enjoy the cozy covered patio, fully fenced yard, and welcoming front porch. Recent improvements include new flooring, updated bathrooms, mini split heating and cooling, and refreshed interior design. This home is stylish, comfortable, and move in ready.

20. 2010-08-19
    historical 273-char remark

    Show marketing remark (273 chars)

    Nice clean older home very well cared for by same owner for 21 years. Fresh interior paint. Roof replaced 10 years ago. Furnace serviced regularly. Located close to bus service & minutes away from Willamette River. Very nice yard with lots of flowers & rose bushes!

21. 2010-08-17
    soldstatus $19,900 Sold 273-char remark

    Show marketing remark (273 chars)

    Nice clean older home very well cared for by same owner for 21 years. Fresh interior paint. Roof replaced 10 years ago. Furnace serviced regularly. Located close to bus service & minutes away from Willamette River. Very nice yard with lots of flowers & rose bushes!

22. 2010-07-12
    historical Active under Contract 273-char remark

    Show marketing remark (273 chars)

    Nice clean older home very well cared for by same owner for 21 years. Fresh interior paint. Roof replaced 10 years ago. Furnace serviced regularly. Located close to bus service & minutes away from Willamette River. Very nice yard with lots of flowers & rose bushes!

23. 2010-02-04
    listed $19,900 Active 273-char remark

    Show marketing remark (273 chars)

    Nice clean older home very well cared for by same owner for 21 years. Fresh interior paint. Roof replaced 10 years ago. Furnace serviced regularly. Located close to bus service & minutes away from Willamette River. Very nice yard with lots of flowers & rose bushes!

ⓘ 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: $422 · $35/mo
• Projected year-2 tax: $776 · $65/mo
• Expected delta: +$354/yr (+$30/mo · 83.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥91°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 12 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,292
• − Mortgage interest: −$4,481
• − Property taxes: −$422
• − Insurance: −$400
• − Repairs & maintenance: −$2,023
• − Management: −$2,023
• − Depreciation: −$2,327
• Taxable income: $13,615
• Est. tax owed @ 24.0%: −$3,268
• After-tax cash flow: $10,857/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: Corvallis SD 509J
• NCES district ID: 4103480
• Math proficiency: 49% ▼ -3.00%
• Reading proficiency: 62% ▼ -1.00%
• Median HH income: $44,820
• Composite: 48.62/100
• National rank: #4584
• State rank: #15 of 183 in OR

Livability — Corvallis

• Score: 82/100
• State rank: #45
• US rank: #1113

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Corvallis, OR
• County: Benton County · 98,484 people
• City population: 67,812
• Metro: Corvallis, OR
• Population (ZIP): 23,934
• Household income: $65,191
• Rent vs Own: 55.4% rent · 44.6% own
• Severe rent burden: 2038.0

Population outlook (Benton County) Hauer SSP2

• Today (2025): 96,963 people
• By 2030: 101,658 · +4.8%
• By 2040: 110,157 · +13.6%
• By 2050: 119,275 · +23.0%
• By 2075: 145,172 · +49.7%
• By 2100: 165,349 · +70.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 9% Two or more races 8% Asian 7%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 5% Slovak 4% Portuguese 3%
• Foreign-born: 10% · China, Canada
• Languages at home: 87% English-only · Spanish 5% Chinese 4% Other Indo-European 2%

Political lean MEDSL · Benton

• 2024 margin: Solid D (+39.6) · D 68.1% · R 28.5% · Other 3.5%
• 2008→2024 swing: +8.1pp toward D · 2008: 31.5pp · 2024: 39.6pp
• All cycles: 2024: D+39.6 2020: D+39.7 2016: D+33.8 2012: D+28.8 2008: D+31.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -376.98%
• Current HPI: 309.2734
• Rent YoY: ▲ 2.63%
• Metro: Corvallis, 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

+352.3% since first listed

7 events — show timeline

• 2026-03-10 Price Changed $89,999 WVMLS
• 2026-01-09 Price Changed $99,999 WVMLS
• 2025-11-26 Listed $105,000 WVMLS
• 2010-08-19 Listing Removed — WVMLS
• 2010-08-17 Sold (MLS) $19,900 WVMLS
• 2010-07-12 Contingent — WVMLS
• 2010-02-04 Listed $19,900 WVMLS

Property tax history

+5.5%/yr

Latest (2025): $422 · +3.0% YoY. Source: county tax records.