5055 NE Elliott Cir #202 · Corvallis, OR 97330

$159,000

3 bd · 1.5 ba · 1,320 sqft · Manufactured public records · 60 Days on market

Built 1972 $120/sqft · 29% above area Est $123k · 29% over

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.9/10.0
• Livability +4.1/5.0
• Rent growth +3.9/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Tucked on a quiet dead-end street, this home just feels easy with a peaceful pond view right from the large back deck. The yard is huge, and interesting, with cherry trees, apple trees, garden beds and a greenhouse that has doubled as an office! Inside the home has big rooms, a beautifully updated kitchen and flooring, a refreshed bath, and a built-in coffee bar you'll actually use shop/shed for projects heat pump with AC, washer dryer included cash purchase. Space rent 885 includes water, sewer, and trash.

Key facts

• Large back deck
• Pond view
• Apple trees

Tags

• POND VIEW
• LARGE BACK DECK
• CHERRY TREES
• APPLE TREES
• GARDEN BEDS
• GREENHOUSE

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath manufactured listed at $159k.

Deal economics

• At list price, monthly cash flow is $816 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $159k).
• Recommended offer: $154k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.5% 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 fast (+5.7%/yr); 229 active listings in the ZIP; 116 units permitted in Benton County in 2024 (0 in 5+ unit buildings).
• This rent runs 41% of the median local income ($71k/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 $1k of loan paydown is wiped out by about $5k 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 + 5.7% rent growth), your $45k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y ago; this cycle's ask has dropped $20k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $154,230 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.52% ✓
• Cap rate: 12.45%
• Cash-on-cash: 22.00%
• DSCR: 1.98
• GRM: 5.5

CMA / ARV

• ARV (median comp): $123,281
• List price: $159,000
• Delta: 28.97%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5055 NE Elliott Cir #8	0.00mi	2/2.0 (-1)	1,344 (+2%)	10mo	$100,000	$74	81
5055 NE Elliott Cir #51	0.00mi	4/2.0 (+1)	1,404 (+6%)	9mo	$160,000	$114	75
5055 NE Elliott Cir #35	0.00mi	3/2.0	1,512 (+14%)	6mo	$125,000	$83	68
5055 NE Elliott Cir #20	0.00mi	3/2.0	1,224 (-7%)	23mo	$174,900	$143	67
5055 Elliot Cir #166	0.00mi	2/2.0 (-1)	1,152 (-13%)	13mo	$75,000	$65	61
5055 NE Elliott Cir #30	0.00mi	3/2.0	1,512 (+14%)	19mo	$173,750	$115	58

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 · 5.74% rent growth · sell at horizon

5-year hold

• IRR: 17.8%
• Equity multiple: 1.74×
• Total profit: $33,114
• Equity at exit: $23,707

10-year hold

• IRR: 28.1%
• Equity multiple: 3.82×
• Total profit: $125,715
• Equity at exit: $13,747

Cash invested: $44,520 (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 97330

• Rents YoY: 5.7%
• Active inventory: 229
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $2,424 medium
• Mortgage (P&I): −$834
• Tax est. 1.5%: −$199 /mo · $2,385/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$509
• Net cashflow: $816

Break-even live

Break-even rent $1,391

Max offer price $159,000

Occupancy floor 61%

Sensitivity live

Price	-10% $926	-5% $871	+0% $816	+5% $761	+10% $706
Rent	-10% $625	-5% $720	+0% $816	+5% $912	+10% $1,008
Rate	-1.0pp $896	-0.5pp $857	base $816	+0.5pp $775	+1.0pp $733

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Listing history 35 events

1. 2026-06-19
   days on market $159,000 Active 60 DOM
2. 2026-06-18
   days on market $159,000 Active 59 DOM
3. 2026-06-17
   days on market $159,000 Active 58 DOM
4. 2026-06-16
   days on market $159,000 Active 57 DOM
5. 2026-06-15
   days on market $159,000 Active 56 DOM
6. 2026-06-14
   pricedays on market $159,000 Active 54 DOM
7. 2026-06-10
   days on market $169,000 Active 51 DOM
8. 2026-06-09
   days on market $169,000 Active 50 DOM
9. 2026-06-09
   status $169,000 Active 49 DOM
10. 2026-06-08
    days on market $169,000 Active under Contract 49 DOM
11. 2026-06-07
    days on market $169,000 Active under Contract 48 DOM
12. 2026-06-05
    days on market $169,000 Active under Contract 45 DOM
13. 2026-06-03
    days on market $169,000 Active under Contract 44 DOM
14. 2026-06-02
    days on market $169,000 Active under Contract 43 DOM
15. 2026-06-01
    days on market $169,000 Active under Contract 42 DOM
16. 2026-05-31
    days on market $169,000 Active under Contract 41 DOM
17. 2026-05-30
    days on market $169,000 Active under Contract 40 DOM
18. 2026-05-01
    price $169,000 512-char remark

    Show marketing remark (512 chars)

    Tucked on a quiet dead-end street, this home just feels easy with a peaceful pond view right from the large back deck. The yard is huge, and interesting, with cherry trees, apple trees, garden beds and a greenhouse that has doubled as an office! Inside the home has big rooms, a beautifully updated kitchen and flooring, a refreshed bath, and a built-in coffee bar you'll actually use shop/shed for projects heat pump with AC, washer dryer included cash purchase. Space rent 885 includes water, sewer, and trash.

19. 2026-04-21
    listed $179,000 Active 512-char remark

    Show marketing remark (512 chars)

    Tucked on a quiet dead-end street, this home just feels easy with a peaceful pond view right from the large back deck. The yard is huge, and interesting, with cherry trees, apple trees, garden beds and a greenhouse that has doubled as an office! Inside the home has big rooms, a beautifully updated kitchen and flooring, a refreshed bath, and a built-in coffee bar you'll actually use shop/shed for projects heat pump with AC, washer dryer included cash purchase. Space rent 885 includes water, sewer, and trash.

20. 2024-05-21
    soldstatus $157,000 Sold 519-char remark

    Show marketing remark (519 chars)

    Back on market through no fault of home! BEST VIEWS & LOCATION in Knoll Terrace all ages Park! Exterior Features: NEW roof liner, lower skirting, windows, paint & deck. Gardening & fruit trees! Interior Features: AMAZING VIEWS from most windows, newer stove, fridge & stackable washer/dryer. NEW Kitchen, coffee bar, bedrooms, bathrooms, PEX Plumbing, HVAC, furnace, water heater, paint & flooring. Park Amenities include W/S, cable, clubhouse use, gym, playground & for a fee, RV/boat storage!

21. 2024-05-16
    status Pending 519-char remark

    Show marketing remark (519 chars)

    Back on market through no fault of home! BEST VIEWS & LOCATION in Knoll Terrace all ages Park! Exterior Features: NEW roof liner, lower skirting, windows, paint & deck. Gardening & fruit trees! Interior Features: AMAZING VIEWS from most windows, newer stove, fridge & stackable washer/dryer. NEW Kitchen, coffee bar, bedrooms, bathrooms, PEX Plumbing, HVAC, furnace, water heater, paint & flooring. Park Amenities include W/S, cable, clubhouse use, gym, playground & for a fee, RV/boat storage!

22. 2024-04-14
    historical Active under Contract 519-char remark

    Show marketing remark (519 chars)

    Back on market through no fault of home! BEST VIEWS & LOCATION in Knoll Terrace all ages Park! Exterior Features: NEW roof liner, lower skirting, windows, paint & deck. Gardening & fruit trees! Interior Features: AMAZING VIEWS from most windows, newer stove, fridge & stackable washer/dryer. NEW Kitchen, coffee bar, bedrooms, bathrooms, PEX Plumbing, HVAC, furnace, water heater, paint & flooring. Park Amenities include W/S, cable, clubhouse use, gym, playground & for a fee, RV/boat storage!

23. 2024-04-06
    price $155,000 519-char remark

    Show marketing remark (519 chars)

    Back on market through no fault of home! BEST VIEWS & LOCATION in Knoll Terrace all ages Park! Exterior Features: NEW roof liner, lower skirting, windows, paint & deck. Gardening & fruit trees! Interior Features: AMAZING VIEWS from most windows, newer stove, fridge & stackable washer/dryer. NEW Kitchen, coffee bar, bedrooms, bathrooms, PEX Plumbing, HVAC, furnace, water heater, paint & flooring. Park Amenities include W/S, cable, clubhouse use, gym, playground & for a fee, RV/boat storage!

24. 2024-04-05
    status Active 519-char remark

    Show marketing remark (519 chars)

    Back on market through no fault of home! BEST VIEWS & LOCATION in Knoll Terrace all ages Park! Exterior Features: NEW roof liner, lower skirting, windows, paint & deck. Gardening & fruit trees! Interior Features: AMAZING VIEWS from most windows, newer stove, fridge & stackable washer/dryer. NEW Kitchen, coffee bar, bedrooms, bathrooms, PEX Plumbing, HVAC, furnace, water heater, paint & flooring. Park Amenities include W/S, cable, clubhouse use, gym, playground & for a fee, RV/boat storage!

25. 2024-02-18
    historical Active under Contract 519-char remark

    Show marketing remark (519 chars)

    Back on market through no fault of home! BEST VIEWS & LOCATION in Knoll Terrace all ages Park! Exterior Features: NEW roof liner, lower skirting, windows, paint & deck. Gardening & fruit trees! Interior Features: AMAZING VIEWS from most windows, newer stove, fridge & stackable washer/dryer. NEW Kitchen, coffee bar, bedrooms, bathrooms, PEX Plumbing, HVAC, furnace, water heater, paint & flooring. Park Amenities include W/S, cable, clubhouse use, gym, playground & for a fee, RV/boat storage!

26. 2024-02-10
    price $159,000 519-char remark

    Show marketing remark (519 chars)

    Back on market through no fault of home! BEST VIEWS & LOCATION in Knoll Terrace all ages Park! Exterior Features: NEW roof liner, lower skirting, windows, paint & deck. Gardening & fruit trees! Interior Features: AMAZING VIEWS from most windows, newer stove, fridge & stackable washer/dryer. NEW Kitchen, coffee bar, bedrooms, bathrooms, PEX Plumbing, HVAC, furnace, water heater, paint & flooring. Park Amenities include W/S, cable, clubhouse use, gym, playground & for a fee, RV/boat storage!

27. 2024-01-18
    status Active 519-char remark

    Show marketing remark (519 chars)

    Back on market through no fault of home! BEST VIEWS & LOCATION in Knoll Terrace all ages Park! Exterior Features: NEW roof liner, lower skirting, windows, paint & deck. Gardening & fruit trees! Interior Features: AMAZING VIEWS from most windows, newer stove, fridge & stackable washer/dryer. NEW Kitchen, coffee bar, bedrooms, bathrooms, PEX Plumbing, HVAC, furnace, water heater, paint & flooring. Park Amenities include W/S, cable, clubhouse use, gym, playground & for a fee, RV/boat storage!

28. 2024-01-11
    historical Active under Contract 519-char remark

    Show marketing remark (519 chars)

    Back on market through no fault of home! BEST VIEWS & LOCATION in Knoll Terrace all ages Park! Exterior Features: NEW roof liner, lower skirting, windows, paint & deck. Gardening & fruit trees! Interior Features: AMAZING VIEWS from most windows, newer stove, fridge & stackable washer/dryer. NEW Kitchen, coffee bar, bedrooms, bathrooms, PEX Plumbing, HVAC, furnace, water heater, paint & flooring. Park Amenities include W/S, cable, clubhouse use, gym, playground & for a fee, RV/boat storage!

29. 2023-12-26
    listed $165,000 Active 519-char remark

    Show marketing remark (519 chars)

    Back on market through no fault of home! BEST VIEWS & LOCATION in Knoll Terrace all ages Park! Exterior Features: NEW roof liner, lower skirting, windows, paint & deck. Gardening & fruit trees! Interior Features: AMAZING VIEWS from most windows, newer stove, fridge & stackable washer/dryer. NEW Kitchen, coffee bar, bedrooms, bathrooms, PEX Plumbing, HVAC, furnace, water heater, paint & flooring. Park Amenities include W/S, cable, clubhouse use, gym, playground & for a fee, RV/boat storage!

30. 2023-07-07
    soldstatus $40,000 Sold
31. 2023-06-19
    historical Active under Contract
32. 2023-06-16
    status Active
33. 2023-06-12
    historical Active under Contract
34. 2023-06-09
    price $60,000
35. 2023-05-26
    listed $87,000 Active

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥92°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: $29,087
• − Mortgage interest: −$8,906
• − Property taxes: −$2,385
• − Insurance: −$795
• − Repairs & maintenance: −$2,327
• − Management: −$2,327
• − Depreciation: −$4,625
• Taxable income: $7,721
• Est. tax owed @ 24.0%: −$1,853
• After-tax cash flow: $7,940/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

• County: Benton County · 98,484 people
• City population: 67,812
• Metro: Corvallis, OR
• Population (ZIP): 43,878
• Household income: $70,742
• Rent vs Own: 48.4% rent · 51.6% own
• Severe rent burden: 3416.0

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 (75%)
• Race & ethnicity: White 75% Hispanic / Latino 9% Asian 9% Two or more races 7% Black 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 4% Portuguese 4% Slovak 3%
• Foreign-born: 13% · Canada, China, South Korea
• Languages at home: 84% English-only · Spanish 6% Chinese 3% Korean 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: ▼ -420.12%
• Current HPI: 298.7746
• Rent YoY: ▲ 5.74%
• 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

+94.3% since first listed

18 events — show timeline

• 2026-05-01 Price Changed $169,000 WVMLS
• 2026-04-21 Listed $179,000 WVMLS
• 2024-05-21 Sold (MLS) $157,000 WVMLS
• 2024-05-16 Pending — WVMLS
• 2024-04-14 Contingent — WVMLS
• 2024-04-06 Price Changed $155,000 WVMLS
• 2024-04-05 Relisted — WVMLS
• 2024-02-18 Contingent — WVMLS
• 2024-02-10 Price Changed $159,000 WVMLS
• 2024-01-18 Relisted — WVMLS
• 2024-01-11 Contingent — WVMLS
• 2023-12-26 Listed $165,000 WVMLS
• 2023-07-07 Sold (MLS) $40,000 WVMLS
• 2023-06-19 Contingent — WVMLS
• 2023-06-16 Relisted — WVMLS
• 2023-06-12 Contingent — WVMLS
• 2023-06-09 Price Changed $60,000 WVMLS
• 2023-05-26 Listed $87,000 WVMLS

Property tax history

+7.0%/yr

Latest (2025): $276 · +3.0% YoY. Source: county tax records.