2601 NE Jack London St #43 · Corvallis, OR 97330

$119,900

3 bd · 2.0 ba · 1,404 sqft · Manufactured public records · 63 Days on market

Built 1994 $85/sqft · 24% below area Est $157k · 24% under

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Why this score? — see what drove the A- 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 +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity is knocking for a buyer ready to bring vision & effort to life. This home features a functional layout with a split family room & living room design, giving everyone their own space, plus abundant natural light & a low-maintenance lot—no yard work, just potential waiting to be unlocked. Appliances plus washer & dryer are included, giving you a head start on your move. It will take work & imagination, but for the right buyer, this is a chance to create something truly your own & build equity.

Key facts

• Garage
• Built 1994
• Listed 62 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $120k.

Deal economics

• At list price, monthly cash flow is $893 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $113k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.2% 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.
• Market conditions: Rents rising fast (+5.7%/yr); 229 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 45d 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 36% 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 $829 of loan paydown is wiped out by about $4k 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 $34k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $98k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $112,706 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.77% ✓
• Cap rate: 15.23%
• Cash-on-cash: 31.90%
• DSCR: 2.42
• GRM: 4.7

CMA / ARV

• ARV (median comp): $156,813
• List price: $119,900
• Delta: -23.54%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2601 NE Jack London St #71	0.00mi	3/2.0	1,404 (0%)	3mo	$162,000	$115	98
2601 NE Jack London St #130	0.00mi	3/2.0	1,352 (-4%)	2mo	$242,000	$179	92
2601 NE Jack London St #103	0.00mi	3/2.0	1,296 (-8%)	3mo	$192,000	$148	85
2601 NE Jack London St #142	0.00mi	3/2.0	1,512 (+8%)	3mo	$250,000	$165	84
2601 NE Jack London St #119	0.00mi	3/2.0	1,352 (-4%)	12mo	$230,000	$170	84
2601 NE Jack London St #33	0.00mi	3/2.0	1,344 (-4%)	15mo	$144,000	$107	80
2601 NE Jack London St #135	0.00mi	3/2.0	1,566 (+12%)	5mo	$169,900	$108	77
2601 NE Jack London St #153	0.00mi	3/2.0	1,512 (+8%)	13mo	$238,400	$158	76
2601 NE Jack London St #86	0.00mi	2/2.0 (-1)	1,309 (-7%)	10mo	$159,000	$121	75
277 NE Conifer Blvd #90	0.53mi	2/2.0 (-1)	1,428 (+2%)	2mo	$94,000	$66	66
277 NE Conifer Blvd #24	0.53mi	3/2.0	1,344 (-4%)	7mo	$97,900	$73	62
277 NE Conifer Blvd #1	0.53mi	3/2.0	1,440 (+3%)	12mo	$70,000	$49	61

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: 29.9%
• Equity multiple: 2.29×
• Total profit: $43,438
• Equity at exit: $17,877

10-year hold

• IRR: 38.7%
• Equity multiple: 5.09×
• Total profit: $137,162
• Equity at exit: $10,367

Cash invested: $33,572 (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: 4.7×

Monthly cashflow live

• Estimated rent: $2,124 high
• Mortgage (P&I): −$629
• Tax from tax record: −$107 /mo · $1,282/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$446
• Net cashflow: $893

Break-even live

Break-even rent $994

Max offer price $119,900

Occupancy floor 53%

Sensitivity live

Price	-10% $960	-5% $926	+0% $893	+5% $859	+10% $825
Rent	-10% $725	-5% $809	+0% $893	+5% $976	+10% $1,060
Rate	-1.0pp $953	-0.5pp $923	base $893	+0.5pp $861	+1.0pp $830

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
213 NE Conifer Blvd Corvallis, OR	1.0–3.0	1.0–2.5	1020	$1,999	$1.96	44d	7	0.27mi
3113 NE Flintlock Pl Corvallis, OR	3.0	1.5	1472	$1,995	$1.36	44d	1	0.35mi
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
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
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	45d	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 27 events

1. 2026-06-19
   days on market $119,900 Active 63 DOM
2. 2026-06-18
   days on market $119,900 Active 62 DOM
3. 2026-06-17
   days on market $119,900 Active 61 DOM
4. 2026-06-16
   days on market $119,900 Active 60 DOM
5. 2026-06-15
   days on market $119,900 Active 59 DOM
6. 2026-06-14
   days on market $119,900 Active 57 DOM
7. 2026-06-10
   days on market $119,900 Active 54 DOM
8. 2026-06-09
   days on market $119,900 Active 53 DOM
9. 2026-06-08
   days on market $119,900 Active 52 DOM
10. 2026-06-07
    days on market $119,900 Active 51 DOM
11. 2026-06-05
    days on market $119,900 Active 48 DOM
12. 2026-06-03
    days on market $119,900 Active 47 DOM
13. 2026-06-02
    days on market $119,900 Active 46 DOM
14. 2026-06-01
    days on market $119,900 Active 45 DOM
15. 2026-05-31
    days on market $119,900 Active 44 DOM
16. 2026-05-30
    days on market $119,900 Active 43 DOM
17. 2026-05-08
    price $119,900 538-char remark

    Show marketing remark (538 chars)

    Opportunity is knocking for a buyer ready to bring vision & effort to life. This home features a functional layout with a split family room & living room design, giving everyone their own space, plus abundant natural light & a low-maintenance lot—no yard work, just potential waiting to be unlocked. Appliances plus washer & dryer are included, giving you a head start on your move. It will take work & imagination, but for the right buyer, this is a chance to create something truly your own & build equity.

18. 2026-04-17
    listed $129,900 Active 538-char remark

    Show marketing remark (538 chars)

    Opportunity is knocking for a buyer ready to bring vision & effort to life. This home features a functional layout with a split family room & living room design, giving everyone their own space, plus abundant natural light & a low-maintenance lot—no yard work, just potential waiting to be unlocked. Appliances plus washer & dryer are included, giving you a head start on your move. It will take work & imagination, but for the right buyer, this is a chance to create something truly your own & build equity.

19. 2020-03-27
    soldstatus $97,500 Sold 506-char remark

    Show marketing remark (506 chars)

    Move in ready with a 2019 roof, hot water heater plus fresh interior paint. New floor coverings, tape and textured walls plus an open design that make this home comfortable and spacious. The split bedroom plan creates living spaces that flow together while giving you both family and gathering areas. Neutral colors create a soft pallet ready for your ideas to make it home. The corner lot is landscaped for minimal maintenance, while the master suite features a large walk-in closet & step in shower.

20. 2020-03-26
    status Pending 506-char remark

    Show marketing remark (506 chars)

    Move in ready with a 2019 roof, hot water heater plus fresh interior paint. New floor coverings, tape and textured walls plus an open design that make this home comfortable and spacious. The split bedroom plan creates living spaces that flow together while giving you both family and gathering areas. Neutral colors create a soft pallet ready for your ideas to make it home. The corner lot is landscaped for minimal maintenance, while the master suite features a large walk-in closet & step in shower.

21. 2020-03-15
    historical Active under Contract 506-char remark

    Show marketing remark (506 chars)

    Move in ready with a 2019 roof, hot water heater plus fresh interior paint. New floor coverings, tape and textured walls plus an open design that make this home comfortable and spacious. The split bedroom plan creates living spaces that flow together while giving you both family and gathering areas. Neutral colors create a soft pallet ready for your ideas to make it home. The corner lot is landscaped for minimal maintenance, while the master suite features a large walk-in closet & step in shower.

22. 2020-03-13
    listed $99,900 Active 506-char remark

    Show marketing remark (506 chars)

    Move in ready with a 2019 roof, hot water heater plus fresh interior paint. New floor coverings, tape and textured walls plus an open design that make this home comfortable and spacious. The split bedroom plan creates living spaces that flow together while giving you both family and gathering areas. Neutral colors create a soft pallet ready for your ideas to make it home. The corner lot is landscaped for minimal maintenance, while the master suite features a large walk-in closet & step in shower.

23. 2018-12-19
    historical
24. 2018-11-18
    price $82,000
25. 2018-11-04
    status Active
26. 2018-10-19
    historical Active under Contract
27. 2018-10-15
    listed $82,500 Active

ⓘ 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: $1,282 · $107/mo
• Projected year-2 tax: $1,282 · $107/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $25,490
• − Mortgage interest: −$6,716
• − Property taxes: −$1,282
• − Insurance: −$600
• − Repairs & maintenance: −$2,039
• − Management: −$2,039
• − Depreciation: −$3,488
• Taxable income: $9,326
• Est. tax owed @ 24.0%: −$2,238
• After-tax cash flow: $8,472/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

+45.3% since first listed

11 events — show timeline

• 2026-05-08 Price Changed $119,900 WVMLS
• 2026-04-17 Listed $129,900 WVMLS
• 2020-03-27 Sold (MLS) $97,500 WVMLS
• 2020-03-26 Pending — WVMLS
• 2020-03-15 Contingent — WVMLS
• 2020-03-13 Listed $99,900 WVMLS
• 2018-12-19 Listing Removed — WVMLS
• 2018-11-18 Price Changed $82,000 WVMLS
• 2018-11-04 Relisted — WVMLS
• 2018-10-19 Contingent — WVMLS
• 2018-10-15 Listed $82,500 WVMLS

Property tax history

+3.9%/yr

Latest (2025): $1,282 · +3.0% YoY. Source: county tax records.