4900 Royal Ave #13 · Eugene, OR 97402

$39,000

2 bd · 1.0 ba · 924 sqft · Manufactured public records · 5 Days on market

Built 1974 Est $65k · 40% under

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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).

• Cash flow +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.0/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nestled in a desirable park, this charming 2-bedroom, 1-bath home offers 924 sq ft of comfortable living in a quiet, forested setting with no rear neighbors for added privacy.Enjoy ample parking with a carport plus three additional spaces in front—perfect for hosting family and friends. A nice-sized backyard and covered deck provide great outdoor living and entertaining space.

Key facts

• Covered deck
• Carport
• Newer cabinetry

Tags

• CARPORT
• COVERED DECK
• UPDATED VINYL WINDOWS
• DURABLE LAMINATE FLOORING
• REFRESHED KITCHEN
• NEWER CABINETRY

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $39k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $39k).
• Cap rate 40.4% 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-.
• Bethel SD 52 (urban): math 18% / reading 34% proficiency, ranked #52 of 58 in OR (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Willamette High School (math 24% / reading 50%, grade F, #85 of 143 statewide, top 61%, 1,516 students, 35% FRL).
• Market conditions: Rents rising (+1.6%/yr); 297 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); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,808 units permitted in Lane County in 2024 (972 in 5+ unit buildings).
• This rent runs 36% of the median local income ($58k/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 $270 of loan paydown is wiped out by about $1k 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 + 1.6% rent growth), your $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 8y 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 $28k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $39,000

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 4.47% ✓
• Cap rate: 40.42%
• Cash-on-cash: 121.87%
• DSCR: 6.42
• GRM: 1.9

CMA / ARV

• ARV (on-the-fly): $64,680
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4900 Royal Ave #13	0.00mi	2/1.0	924 (0%)	0mo	$36,500	$40	100
4900 Royal Ave #56	0.00mi	2/1.0	924 (0%)	5mo	$51,000	$55	96
4900 Royal Ave	0.00mi	3/2.0 (+1)	924 (0%)	9mo	$26,000	$28	84
1199 N Terry St #258	0.39mi	2/1.0	924 (0%)	0mo	$64,900	$70	82
1199 N Terry St #248	0.39mi	2/1.0	924 (0%)	3mo	$71,000	$77	80
4982 Morely Loop	0.43mi	2/1.0	925 (+0%)	3mo	$200,000	$216	77
1199 N Terry St	0.44mi	2/1.0	924 (0%)	3mo	$81,000	$88	77
1400 Candlelight Dr #226	0.69mi	2/1.0	924 (0%)	2mo	$48,000	$52	66
1199 N Terry St #315	0.39mi	2/2.0	960 (+4%)	9mo	$75,000	$78	64
1199 N Terry St #264	0.39mi	2/1.0	840 (-9%)	6mo	$52,000	$62	61
555 N Danebo Ave #36	0.38mi	2/1.0	840 (-9%)	9mo	$39,000	$46	59
5439 Olympic Cir	0.70mi	3/2.0 (+1)	1,040 (+13%)	12mo	$322,000	$310	27

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 · 1.58% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.67×
• Total profit: $61,880
• Equity at exit: $5,815

10-year hold

• IRR: —
• Equity multiple: 13.38×
• Total profit: $135,137
• Equity at exit: $3,372

Cash invested: $10,920 (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 97402

• Rents YoY: 1.6%
• Active inventory: 297
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,745 high
• Mortgage (P&I): −$205
• Tax est. 1.5%: −$49 /mo · $585/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $1,109

Break-even live

Break-even rent $341

Max offer price $39,000

Occupancy floor 31%

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: $9,750
• Closing costs: $1,170
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1040 Lamplite Ln Eugene, OR	3.0	1.0	912	$1,895	$2.08	44d	1	0.33mi
573 Hanover St Eugene, OR	2.0	1.0	775	$1,495	$1.93	44d	1	0.63mi
543 Hanover St Eugene, OR	2.0	1.0	710	$1,725	$2.43	14d	1	0.64mi
4478 Fergus Ave Eugene, OR	3.0	1.5	1120	$1,695	$1.51	44d	1	0.67mi
1190 Taft St Unit 1190 Eugene, OR	3.0	1.0	1116	$1,650	$1.48	21d	1	1.44mi
4175 Quest Dr Eugene, OR	1.0–3.0	1.0–2.0	983	$1,710	$1.74	14d	6	1.46mi

Listing history 7 events

1. 2026-05-05
   status Pending 385-char remark

   Show marketing remark (385 chars)

   Nestled in a desirable park, this charming 2-bedroom, 1-bath home offers 924 sq ft of comfortable living in a quiet, forested setting with no rear neighbors for added privacy.Enjoy ample parking with a carport plus three additional spaces in front—perfect for hosting family and friends. A nice-sized backyard and covered deck provide great outdoor living and entertaining space.

2. 2026-04-21
   status Pending
3. 2026-04-15
   listed $39,000 Active 385-char remark

   Show marketing remark (385 chars)

   Nestled in a desirable park, this charming 2-bedroom, 1-bath home offers 924 sq ft of comfortable living in a quiet, forested setting with no rear neighbors for added privacy.Enjoy ample parking with a carport plus three additional spaces in front—perfect for hosting family and friends. A nice-sized backyard and covered deck provide great outdoor living and entertaining space.

4. 2026-04-15
   listed $39,000 Active

   Show marketing remark (385 chars)

   Nestled in a desirable park, this charming 2-bedroom, 1-bath home offers 924 sq ft of comfortable living in a quiet, forested setting with no rear neighbors for added privacy.Enjoy ample parking with a carport plus three additional spaces in front—perfect for hosting family and friends. A nice-sized backyard and covered deck provide great outdoor living and entertaining space.

5. 2019-02-05
   soldstatus $28,500 Sold 445-char remark

   Show marketing remark (445 chars)

   Updated 2 Bdr 1 Bth single-wide Mobile home in West Eugene across from Dog Park, shopping, bus-line. New granite counters at kitchen and bathrooms, interior and exterior new paint. Great open layout with spacious rooms! Enjoy BBQs and visiting with friends in the generous backyard space which boasts private high fence, very large sturdy enclosed toolshed. New laminate wood floors (LR, hallway & rooms) new vinyl floors (Bth & Kitchen)

6. 2018-12-28
   status Pending 445-char remark

   Show marketing remark (445 chars)

   Updated 2 Bdr 1 Bth single-wide Mobile home in West Eugene across from Dog Park, shopping, bus-line. New granite counters at kitchen and bathrooms, interior and exterior new paint. Great open layout with spacious rooms! Enjoy BBQs and visiting with friends in the generous backyard space which boasts private high fence, very large sturdy enclosed toolshed. New laminate wood floors (LR, hallway & rooms) new vinyl floors (Bth & Kitchen)

7. 2018-12-16
   listed $28,500 Active 445-char remark

   Show marketing remark (445 chars)

   Updated 2 Bdr 1 Bth single-wide Mobile home in West Eugene across from Dog Park, shopping, bus-line. New granite counters at kitchen and bathrooms, interior and exterior new paint. Great open layout with spacious rooms! Enjoy BBQs and visiting with friends in the generous backyard space which boasts private high fence, very large sturdy enclosed toolshed. New laminate wood floors (LR, hallway & rooms) new vinyl floors (Bth & Kitchen)

ⓘ 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 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 13 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,939
• − Mortgage interest: −$2,185
• − Property taxes: −$585
• − Insurance: −$195
• − Repairs & maintenance: −$1,675
• − Management: −$1,675
• − Depreciation: −$1,135
• Taxable income: $13,490
• Est. tax owed @ 24.0%: −$3,238
• After-tax cash flow: $10,070/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: Bethel SD 52
• NCES district ID: 4102040
• Math proficiency: 18% ▼ -14.00%
• Reading proficiency: 34% ▼ -14.00%
• Median HH income: $47,860
• Composite: 22.62/100
• National rank: #8066
• State rank: #52 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): 53,823
• Household income: $57,658
• Rent vs Own: 49.3% rent · 50.7% own
• Severe rent burden: 3142.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 17% Two or more races 11% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Italian 4% Lithuanian 3% Portuguese 3%
• Foreign-born: 7% · Canada, China, Vietnam
• Languages at home: 88% English-only · Spanish 9% Other Indo-European 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: ▼ -437.20%
• Current HPI: 298.1167
• Rent YoY: ▲ 1.58%
• 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

+36.8% since first listed

7 events — show timeline

• 2026-05-05 Pending — WVMLS
• 2026-04-21 Pending — RMLS
• 2026-04-15 Listed $39,000 RMLS
• 2026-04-15 Listed $39,000 WVMLS
• 2019-02-05 Sold (MLS) $28,500 RMLS
• 2018-12-28 Pending — RMLS
• 2018-12-16 Listed $28,500 RMLS

Property tax history

-38.9%/yr

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