421 Stevens Rd #52 · Eagle Point, OR 97524

$35,000

2 bd · 1.0 ba · 1,040 sqft · Land public records · 228 Days on market

Built 1974 $34/sqft · 55% below area ↓ 24% since listing

---

Why this score? — see what drove the D 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 +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.8/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 2-bedroom, 2-bath 1974 manufactured home features a comfortable layout and thoughtful updates, with room left to add your own finishing touches. Set in a welcoming park community, it's a great opportunity for those looking to create value and make a space truly their own.

Key facts

• Parking
• Built 1974
• Listed 227 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath land listed at $35k.

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 $35k).
• Recommended offer: $31k (12.0% below list) — sets the bar for market timing.
• Cap rate 46.8% vs local median 2.3% in Eagle Point — 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 76/100 on livability (#75 in OR, #3,362 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A, health & safety A; Watch: amenities F, commute F.
• Eagle Point SD 9 (suburban): math 26% / reading 45% proficiency, ranked #134 of 183 in OR (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 233 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 904 units permitted in Jackson County in 2024 (212 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $242 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Jackson County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 228 days — a 12% lower offer ($31k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago; this cycle's ask has dropped $22k (39%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 6→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $30,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 228 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 1974 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 5.08% ✓
• Cap rate: 46.77%
• Cash-on-cash: 144.56%
• DSCR: 7.43
• GRM: 1.6

CMA / ARV

• ARV (median comp): $77,045
• List price: $35,000
• Delta: -54.57%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.10×
• Total profit: $69,537
• Equity at exit: $5,219

10-year hold

• IRR: —
• Equity multiple: 17.07×
• Total profit: $157,439
• Equity at exit: $3,026

Cash invested: $9,800 (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 97524

• Home prices YoY: -27.7%
• Active inventory: 233
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $1,777 high
• Mortgage (P&I): −$184
• Tax from tax record: −$25 /mo · $305/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $1,181

Break-even live

Break-even rent $283

Max offer price $35,000

Occupancy floor 29%

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
118 N Shasta Ave Apt B Eagle Point, OR	3.0	2.0	1110	$1,695	$1.53	20d	1	0.30mi
173 N Royal Ave Eagle Point, OR	3.0	2.0	1400	$1,950	$1.39	13d	1	0.39mi
204 Fargo St Unit 204 Eagle Point, OR	2.0	1.0	744	$1,395	$1.88	13d	1	0.60mi
113 Little Butte Dr Eagle Point, OR	3.0	2.0	1336	$2,400	$1.80	13d	1	0.67mi
826 S Royal Ave Unit 828 Eagle Point, OR	2.0	1.0	780	$1,295	$1.66	43d	1	0.69mi
476 Teakwood Dr Eagle Point, OR	3.0	2.0	1400	$2,000	$1.43	20d	1	0.92mi

Listing history 24 events

1. 2026-06-19
   days on market $35,000 Active 228 DOM
2. 2026-06-18
   days on market $35,000 Active 227 DOM
3. 2026-06-17
   days on market $35,000 Active 226 DOM
4. 2026-06-16
   days on market $35,000 Active 225 DOM
5. 2026-06-15
   days on market $35,000 Active 224 DOM
6. 2026-06-14
   days on market $35,000 Active 222 DOM
7. 2026-06-13
   days on market $35,000 Active 221 DOM
8. 2026-06-10
   days on market $35,000 Active 219 DOM
9. 2026-06-09
   days on market $35,000 Active 218 DOM
10. 2026-06-08
    days on market $35,000 Active 217 DOM
11. 2026-06-07
    days on market $35,000 Active 216 DOM
12. 2026-06-05
    days on market $35,000 Active 213 DOM
13. 2026-06-03
    days on market $35,000 Active 212 DOM
14. 2026-06-02
    days on market $35,000 Active 211 DOM
15. 2026-06-01
    days on market $35,000 Active 210 DOM
16. 2026-05-31
    days on market $35,000 Active 209 DOM
17. 2026-05-30
    days on market $35,000 Active 208 DOM
18. 2026-03-08
    price $35,000 277-char remark

    Show marketing remark (277 chars)

    This 2-bedroom, 2-bath 1974 manufactured home features a comfortable layout and thoughtful updates, with room left to add your own finishing touches. Set in a welcoming park community, it's a great opportunity for those looking to create value and make a space truly their own.

19. 2025-12-02
    price $47,000 277-char remark

    Show marketing remark (277 chars)

    This 2-bedroom, 2-bath 1974 manufactured home features a comfortable layout and thoughtful updates, with room left to add your own finishing touches. Set in a welcoming park community, it's a great opportunity for those looking to create value and make a space truly their own.

20. 2025-11-04
    status Active 277-char remark

    Show marketing remark (277 chars)

    This 2-bedroom, 2-bath 1974 manufactured home features a comfortable layout and thoughtful updates, with room left to add your own finishing touches. Set in a welcoming park community, it's a great opportunity for those looking to create value and make a space truly their own.

21. 2025-10-28
    historical 277-char remark

    Show marketing remark (277 chars)

    This 2-bedroom, 2-bath 1974 manufactured home features a comfortable layout and thoughtful updates, with room left to add your own finishing touches. Set in a welcoming park community, it's a great opportunity for those looking to create value and make a space truly their own.

22. 2025-10-28
    listed $57,000 Active 277-char remark

    Show marketing remark (277 chars)

    This 2-bedroom, 2-bath 1974 manufactured home features a comfortable layout and thoughtful updates, with room left to add your own finishing touches. Set in a welcoming park community, it's a great opportunity for those looking to create value and make a space truly their own.

23. 2020-04-25
    historical
24. 2019-10-17
    listed $46,000

ⓘ 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: $305 · $25/mo
• Projected year-2 tax: $340 · $28/mo
• Expected delta: +$34/yr (+$3/mo · 11.2%)

ⓘ 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 8/10 Severe
• 🌡 Heat 6/10 Major 6 d/yr ≥99°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 24 unhealthy d/yr today · 29 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,329
• − Mortgage interest: −$1,961
• − Property taxes: −$305
• − Insurance: −$175
• − Repairs & maintenance: −$1,706
• − Management: −$1,706
• − Depreciation: −$1,018
• Taxable income: $14,458
• Est. tax owed @ 24.0%: −$3,470
• After-tax cash flow: $10,697/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: Eagle Point SD 9
• NCES district ID: 4104500
• Math proficiency: 26% ▬ 0.00%
• Reading proficiency: 45% ▬ 0.00%
• Median HH income: $47,834
• Composite: 33.13/100
• National rank: #10630
• State rank: #134 of 183 in OR

Livability — Eagle Point

• Score: 76/100
• State rank: #75
• US rank: #3362

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eagle Point, OR
• Population (ZIP): 15,072

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 234,433 people
• By 2030: 243,834 · +4.0%
• By 2040: 259,717 · +10.8%
• By 2050: 273,269 · +16.6%
• By 2075: 300,624 · +28.2%
• By 2100: 305,256 · +30.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 10% Two or more races 6%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Italian 3% Portuguese 2% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 6%

Political lean MEDSL · Jackson

• 2024 margin: Lean R (+6.4) · D 45.5% · R 51.9% · Other 2.6%
• 2008→2024 swing: -6.5pp toward R · 2008: 0.1pp · 2024: -6.4pp
• All cycles: 2024: R+6.4 2020: R+3.5 2016: R+9.2 2012: R+5.0 2008: D+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -116.82%
• Current HPI: 304.579
• 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

-23.9% since first listed

7 events — show timeline

• 2026-03-08 Price Changed $35,000 MLSCO
• 2025-12-02 Price Changed $47,000 MLSCO
• 2025-11-04 Relisted — MLSCO
• 2025-10-28 Listed $57,000 MLSCO
• 2025-10-28 Listing Removed — MLSCO
• 2020-04-25 Listing Removed — MLSCO
• 2019-10-17 Listed $46,000 MLSCO

Property tax history

+4.6%/yr

Latest (2022): $305 · +7.0% YoY. Source: county tax records.