2601 NE Jack London St #45 · Corvallis, OR 97330

$169,999

2 bd · 2.0 ba · 1,107 sqft · Manufactured public records · 52 Days on market

Built 1995 $154/sqft · 89% above area ↓ 6% since listing

---

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).

• Cash flow +25.8/30.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• Schools +4.9/10.0
• Livability +4.1/5.0
• Rent growth +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in one of Corvallis’ nicest parks, this updated 2 bed, 2 bath home is truly move-in ready. Major upgrades include a brand new roof and HVAC system, along with new flooring, windows, and doors. Fresh paint inside and out gives the home a clean, modern feel, complemented by stainless steel appliances and updated bathrooms. Carport for covered parking and a convenient location close to everything Corvallis has to offer.

Key facts

• New doors
• New flooring
• Hvac system

Tags

• NEW ROOF
• HVAC SYSTEM
• NEW FLOORING
• NEW WINDOWS
• NEW DOORS
• STAINLESS STEEL APPLIANCES

Property features AI

Finance

• Other: Unit dimensions approximately 40' x 25'; Model: 2795 K4-4012; View: Territorial; Main level area reported as 1,107 (listing)
• HOA & community: Park name: North Star; Association provides cable TV; Pet limit: 20 lb or less; Lot rent billed quarterly

Exterior

• Parking: Carport; Driveway
• Utilities: Public water; Public sewer; Electricity
• Home design: Manufactured home in a park; Residential property; Main level living; Territorial view
• Construction: Built in 1995; T-111 and wood siding; Composition roof; Pillar/post/pier foundation
• Exterior features: Covered patio; Tool shed; Yard; Paved road access

Interior

• Kitchen: Built-in oven; Built-in range; Built-in refrigerator; Dishwasher; Disposal; Microwave; Stainless steel appliances
• Bedrooms: Primary bedroom on the main level; Second bedroom
• Flooring: Laminate; Vinyl; Carpet
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Forced air heating; Heat pump; Mini-split cooling
• Interior features: Laminate flooring; Vinyl flooring; Wall-to-wall carpet; Laundry area; Vinyl window frames; Crawl space basement
• Laundry & utility: Laundry area; Electric hot water

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $170k.

Deal economics

• At list price, monthly cash flow is $414 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $165k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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.
• Zoned schools: Letitia Carson Elementary School (390 students, 67% FRL); Cheldelin Middle School (570 students, 31% FRL); Crescent Valley High School (931 students, 19% FRL).
• Market conditions: Rents rising fast (+5.7%/yr); 229 active listings in the ZIP; 18 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 32% 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 $48k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $164,899 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 9.21%
• Cash-on-cash: 10.42%
• DSCR: 1.46
• GRM: 7.6

CMA / ARV

• ARV (median comp): $90,155
• List price: $169,999
• Delta: 88.56%
• Verdict: OVERPRICED
• Comps: 14 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2601 NE Jack London St Unit (94)	0.00mi	3/2.0 (+1)	1,120 (+1%)	11mo	$175,000	$156	84
2601 NE Jack London St #169	0.13mi	2/2.0	1,080 (-2%)	8mo	$142,900	$132	83
2601 NE Jack London St #136	0.00mi	3/2.0 (+1)	1,188 (+7%)	15mo	$140,000	$118	70
277 NE Conifer Blvd #67	0.53mi	2/2.0	1,120 (+1%)	12mo	$112,000	$100	63
277 NE Conifer Blvd #18	0.53mi	2/2.0	1,152 (+4%)	10mo	$88,500	$77	60
277 NE Conifer Blvd #7	0.53mi	2/2.0	1,100 (-1%)	21mo	$86,000	$78	57
277 NE Conifer Blvd #89	0.53mi	2/2.0	1,100 (-1%)	24mo	$125,000	$114	54
277 NE Conifer Blvd #30	0.53mi	2/2.0	1,152 (+4%)	22mo	$105,000	$91	50
277 NE Conifer Blvd #139	0.53mi	2/1.0	960 (-13%)	3mo	$39,999	$42	47
277 NE Conifer Blvd #123	0.53mi	3/2.0 (+1)	1,152 (+4%)	23mo	$100,995	$88	44
277 NE Conifer Blvd Unit 21	0.53mi	2/1.0	960 (-13%)	10mo	$60,000	$63	41

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: 2.1%
• Equity multiple: 1.08×
• Total profit: $4,009
• Equity at exit: $25,347

10-year hold

• IRR: 14.1%
• Equity multiple: 2.26×
• Total profit: $60,073
• Equity at exit: $14,698

Cash invested: $47,600 (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 97330

• Rents YoY: 5.7%
• Active inventory: 229
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,859 high
• Mortgage (P&I): −$891
• Tax from tax record: −$93 /mo · $1,111/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$390
• Net cashflow: $414

Break-even live

Break-even rent $1,335

Max offer price $169,999

Occupancy floor 73%

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2675 NE Lancaster St Corvallis, OR	2.0	1.0	846	$1,730	$2.04	44d	17	0.11mi
213 NE Conifer Blvd Corvallis, OR	1.0–3.0	1.0–2.5	1020	$1,899	$1.86	44d	7	0.27mi
3113 NE Flintlock Pl Corvallis, OR	3.0	1.5	1472	$1,995	$1.36	44d	1	0.35mi
3312 NE Lancaster St Unit 1 Corvallis, OR	2.0	1.0	750	$1,450	$1.93	44d	1	0.47mi
1126 NE Conser Pl Corvallis, OR	2.0	2.0	1026	$2,200	$2.14	44d	1	0.48mi
2418 NW 9th St Unit 2420 Corvallis, OR	3.0	1.5	1050	$1,895	$1.80	44d	1	0.49mi
720 NW Walnut Blvd Corvallis, OR	3.0	1.5	1304	$2,300	$1.76	44d	1	0.68mi
3424 NW Satinwood St Corvallis, OR	3.0	1.5	1173	$2,395	$2.04	44d	1	0.77mi
958 NW Sycamore Ave Corvallis, OR	1.0	1.0	750	$1,425	$1.90	44d	1	0.82mi
935 NW Hobart Ave Apt 37 Corvallis, OR	2.0	1.5	750	$1,395	$1.86	44d	1	0.97mi
2145 NW Highland Dr Apt 2 Corvallis, OR	2.0	1.5	918	$1,795	$1.96	44d	1	0.97mi
991 NW Circle Blvd Corvallis, OR	2.0	1.0	1020	$1,395	$1.37	44d	1	0.97mi
1635 NW Division St Apt 1 Corvallis, OR	2.0	1.0	773	$1,195	$1.55	44d	1	1.15mi
960 NW Hayes Ave Unit 4 Corvallis, OR	2.0	1.0	700	$1,295	$1.85	44d	1	1.26mi
2232 NW 14th St Corvallis, OR	3.0	1.0	1444	$2,295	$1.59	44d	1	1.26mi
1445 NW Division St #6 Corvallis, OR	2.0	1.5	900	$1,450	$1.61	44d	1	1.30mi
2380 NW Green Cir Corvallis, OR	3.0	1.0	1062	$2,195	$2.07	44d	1	1.32mi
2380 NW Rolling Green Dr Corvallis, OR	2.0	1.0–1.5	746	$1,845	$2.47	44d	8	1.36mi

Listing history 18 events

1. 2026-06-19
   days on market $169,999 Active 52 DOM
2. 2026-06-18
   days on market $169,999 Active 51 DOM
3. 2026-06-17
   days on market $169,999 Active 50 DOM
4. 2026-06-16
   days on market $169,999 Active 49 DOM
5. 2026-06-15
   days on market $169,999 Active 48 DOM
6. 2026-06-14
   days on market $169,999 Active 46 DOM
7. 2026-06-10
   days on market $169,999 Active 43 DOM
8. 2026-06-09
   days on market $169,999 Active 42 DOM
9. 2026-06-08
   days on market $169,999 Active 41 DOM
10. 2026-06-07
    days on market $169,999 Active 40 DOM
11. 2026-06-05
    days on market $169,999 Active 37 DOM
12. 2026-06-03
    days on market $169,999 Active 36 DOM
13. 2026-06-02
    days on market $169,999 Active 35 DOM
14. 2026-06-01
    days on market $169,999 Active 34 DOM
15. 2026-05-31
    days on market $169,999 Active 33 DOM
16. 2026-05-30
    days on market $169,999 Active 32 DOM
17. 2026-04-28
    listed $180,000 Active 434-char remark

    Show marketing remark (434 chars)

    Located in one of Corvallis’ nicest parks, this updated 2 bed, 2 bath home is truly move-in ready. Major upgrades include a brand new roof and HVAC system, along with new flooring, windows, and doors. Fresh paint inside and out gives the home a clean, modern feel, complemented by stainless steel appliances and updated bathrooms. Carport for covered parking and a convenient location close to everything Corvallis has to offer.

18. 2026-04-28
    listed $180,000 Active 434-char remark

    Show marketing remark (434 chars)

    Located in one of Corvallis’ nicest parks, this updated 2 bed, 2 bath home is truly move-in ready. Major upgrades include a brand new roof and HVAC system, along with new flooring, windows, and doors. Fresh paint inside and out gives the home a clean, modern feel, complemented by stainless steel appliances and updated bathrooms. Carport for covered parking and a convenient location close to everything Corvallis has to offer.

ⓘ 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: $1,111 · $93/mo
• Projected year-2 tax: $1,649 · $137/mo
• Expected delta: +$538/yr (+$45/mo · 48.4%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 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: $22,306
• − Mortgage interest: −$9,523
• − Property taxes: −$1,111
• − Insurance: −$850
• − Repairs & maintenance: −$1,784
• − Management: −$1,784
• − Depreciation: −$4,945
• Taxable income: $2,307
• Est. tax owed @ 24.0%: −$554
• After-tax cash flow: $4,408/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): 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

-5.6% since first listed

4 events — show timeline

• 2026-05-27 Price Changed $169,999 WVMLS
• 2026-05-26 Price Changed $169,999 RMLS
• 2026-04-28 Listed $180,000 RMLS
• 2026-04-28 Listed $180,000 WVMLS

Property tax history

+3.4%/yr

Latest (2025): $1,111 · +3.0% YoY. Source: county tax records.