610 Vaughan Ln · Lebanon, OR 97355

$107,500

3 bd · 2.0 ba · 1,215 sqft · Manufactured · 38 Days on market

Built 1997 Poor condition Est $203k · 47% under ↓ 22% since listing

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• Schools +3.0/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover comfortable living in this modern 3-bedroom, 2-bath home. Built in 2020, this house offers 1550 sqft of well-designed space featuring an open floor plan, large kitchen island, ample cabinetry, and built-in media storage. Each bedroom boasts walk-in closets, enhancing storage options. Enjoy outdoor activities on a spacious, concrete patio within a fenced backyard. The large two-car garage includes additional storage space. Park rent is 995 and does not include utilities.

Key facts

• New flooring
• New paint
• New kitchen cabinets

Tags

• NEW KITCHEN CABINETS
• NEW STAINLESS APPLIANCES
• NEW FLOORING
• NEW PAINT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $108k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $659 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $108k).
• Recommended offer: $104k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.7% vs local median 2.9% in Lebanon — 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 71/100 on livability (#126 in OR) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, cost of living A; Watch: schools C-, health & safety C-, amenities D+.
• Lebanon Community SD 9 (town): math 27% / reading 43% proficiency, ranked #26 of 58 in OR (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.5%/yr); 246 active listings in the ZIP; 17 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; 311 units permitted in Linn County in 2024 (60 in 5+ unit buildings).
• This rent runs 31% of the median local income ($69k/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 $743 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Linn County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 4.5% rent growth), your $30k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($104k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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.

Risks & watch-outs

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

Recommended offer $104,275 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.65% ✓
• Cap rate: 13.65%
• Cash-on-cash: 26.28%
• DSCR: 2.17
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $202,905
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
610 Vaughan Ln #49	0.01mi	3/2.0	1,188 (-2%)	3mo	$91,000	$77	93
610 Vaughan Ln #11	0.01mi	3/2.0	1,296 (+7%)	4mo	$107,500	$83	85
615 Vaughan Ln	0.17mi	2/2.0 (-1)	1,200 (-1%)	2mo	$297,000	$248	83
820 Mazama Ave	0.17mi	2/2.0 (-1)	1,188 (-2%)	10mo	$275,000	$231	75
2796 S Main Rd #95	0.41mi	3/2.0	1,248 (+3%)	9mo	$42,000	$34	69
3393 Snow Peak Pl	0.19mi	2/2.0 (-1)	1,344 (+11%)	1mo	$225,000	$167	67
3245 S 8th St	0.15mi	2/2.0 (-1)	1,344 (+11%)	8mo	$230,000	$171	63
2681 Birch St	0.46mi	3/2.0	1,100 (-10%)	2mo	$335,000	$305	61
917 Mazama Ave	0.23mi	3/2.0	1,056 (-13%)	8mo	$292,000	$277	61
200 Market St #289	0.64mi	3/2.0	1,296 (+7%)	3mo	$140,000	$108	56
200 Market St #221	0.63mi	3/2.0	1,296 (+7%)	7mo	$154,000	$119	54
200 Market St #227	0.57mi	3/2.0	1,296 (+7%)	11mo	$156,000	$120	54

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 · 4.55% rent growth · sell at horizon

5-year hold

• IRR: 21.8%
• Equity multiple: 1.91×
• Total profit: $27,404
• Equity at exit: $16,029

10-year hold

• IRR: 30.9%
• Equity multiple: 3.99×
• Total profit: $89,940
• Equity at exit: $9,295

Cash invested: $30,100 (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 97355

• Rents YoY: 4.5%
• Active inventory: 246
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,775 high
• Mortgage (P&I): −$564
• Tax est. 1.5%: −$134 /mo · $1,612/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $659

Break-even live

Break-even rent $940

Max offer price $107,500

Occupancy floor 58%

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: $26,875
• Closing costs: $3,225
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
300 Sand Ridge Ct Lebanon, OR	1.0–2.0	1.0–2.0	944	$1,525	$1.61	43d	6	0.30mi
1096 Fuji Ln Lebanon, OR	3.0	2.0	1300	$2,395	$1.84	43d	1	0.31mi
86 Weldwood Dr Lebanon, OR	2.0	2.0	1222	$1,650	$1.35	43d	1	0.53mi
2656 S Main Rd #107 Lebanon, OR	3.0	2.5	1402	$1,950	$1.39	43d	1	0.57mi
929 Wassom St Unit 929 Lebanon, OR	2.0	2.0	1202	$1,800	$1.50	43d	1	0.62mi
975 Wassom St Lebanon, OR	2.0	1.5	928	$1,525	$1.64	43d	1	0.65mi
2400 12th St Lebanon, OR	1.0–2.0	1.0	926	$1,600	$1.73	43d	6	0.79mi
1956 S Second St Lebanon, OR	1.0–2.0	1.0–2.0	840	$1,445	$1.72	43d	7	0.80mi
1900 S 2nd St Unit A304 Lebanon, OR	3.0	2.0	1177	$1,700	$1.44	43d	1	0.89mi
1900 S Second St Unit A103 Lebanon, OR	2.0	1.0	858	$1,350	$1.57	43d	1	0.90mi
1900 S Second St Unit A201 Lebanon, OR	2.0	2.0	1078	$1,450	$1.35	43d	1	0.90mi
E Airport Rd Lebanon, OR	1.0–3.0	1.0–2.0	993	$1,995	$2.01	43d	14	1.02mi
2180 Franklin St Lebanon, OR	1.0–2.0	1.0–2.0	862	$1,695	$1.97	43d	6	1.06mi
640 F St Lebanon, OR	2.0	1.0	980	$1,435	$1.46	43d	1	1.17mi
45 Cox St Lebanon, OR	2.0	1.0	760	$1,395	$1.84	43d	1	1.26mi
865 E St Unit 865 Lebanon, OR	2.0	1.0	819	$1,500	$1.83	43d	1	1.28mi
198 E Milton St Unit 1 Lebanon, OR	2.0	1.0	800	$1,350	$1.69	43d	1	1.34mi

Listing history 23 events

1. 2026-06-19
   days on market $107,500 Active 38 DOM
2. 2026-06-18
   days on market $107,500 Active 37 DOM
3. 2026-06-17
   days on market $107,500 Active 36 DOM
4. 2026-06-16
   days on market $107,500 Active 35 DOM
5. 2026-06-15
   days on market $107,500 Active 34 DOM
6. 2026-06-14
   days on market $107,500 Active 32 DOM
7. 2026-06-13
   days on market $107,500 Active 31 DOM
8. 2026-06-10
   days on market $107,500 Active 29 DOM
9. 2026-06-09
   days on market $107,500 Active 28 DOM
10. 2026-06-08
    days on market $107,500 Active 27 DOM
11. 2026-06-07
    days on market $107,500 Active 26 DOM
12. 2026-06-03
    days on market $107,500 Active 22 DOM
13. 2026-06-02
    days on market $107,500 Active 21 DOM
14. 2026-06-01
    days on market $107,500 Active 20 DOM
15. 2026-05-31
    days on market $107,500 Active 19 DOM
16. 2026-05-30
    days on market $107,500 Active 18 DOM
17. 2026-05-13
    listed $107,500 Active 141-char remark
18. 2024-11-26
    soldstatus $180,000 Closed 483-char remark

    Show marketing remark (483 chars)

    Discover comfortable living in this modern 3-bedroom, 2-bath home. Built in 2020, this house offers 1550 sqft of well-designed space featuring an open floor plan, large kitchen island, ample cabinetry, and built-in media storage. Each bedroom boasts walk-in closets, enhancing storage options. Enjoy outdoor activities on a spacious, concrete patio within a fenced backyard. The large two-car garage includes additional storage space. Park rent is 995 and does not include utilities.

19. 2024-11-18
    status Pending 483-char remark

    Show marketing remark (483 chars)

    Discover comfortable living in this modern 3-bedroom, 2-bath home. Built in 2020, this house offers 1550 sqft of well-designed space featuring an open floor plan, large kitchen island, ample cabinetry, and built-in media storage. Each bedroom boasts walk-in closets, enhancing storage options. Enjoy outdoor activities on a spacious, concrete patio within a fenced backyard. The large two-car garage includes additional storage space. Park rent is 995 and does not include utilities.

20. 2024-10-23
    listed $199,900 Active 483-char remark

    Show marketing remark (483 chars)

    Discover comfortable living in this modern 3-bedroom, 2-bath home. Built in 2020, this house offers 1550 sqft of well-designed space featuring an open floor plan, large kitchen island, ample cabinetry, and built-in media storage. Each bedroom boasts walk-in closets, enhancing storage options. Enjoy outdoor activities on a spacious, concrete patio within a fenced backyard. The large two-car garage includes additional storage space. Park rent is 995 and does not include utilities.

21. 2019-09-12
    soldstatus $134,750 Sold

    Show marketing remark (520 chars)

    You'll be thrilled with the Impeccable condition & perfect location of this lovely spacious home. Enclosed front entry leads into the bright interior w/unique architecture details. Cozy breakfast nook in the Kitchen pops with pure white abundant cabinetry. Master bdrm has walk in closet w/built-ins. Spacious Den & formal dining. Private fenced backyard w/delightful concrete patio flows onto a huge trek deck perfect for outdoor entertaining. Extra deep 2 car garage. An amazing home for the discerning buyer.

22. 2019-08-16
    historical Active under Contract

    Show marketing remark (520 chars)

    You'll be thrilled with the Impeccable condition & perfect location of this lovely spacious home. Enclosed front entry leads into the bright interior w/unique architecture details. Cozy breakfast nook in the Kitchen pops with pure white abundant cabinetry. Master bdrm has walk in closet w/built-ins. Spacious Den & formal dining. Private fenced backyard w/delightful concrete patio flows onto a huge trek deck perfect for outdoor entertaining. Extra deep 2 car garage. An amazing home for the discerning buyer.

23. 2019-08-05
    listed $137,900 Active

    Show marketing remark (520 chars)

    You'll be thrilled with the Impeccable condition & perfect location of this lovely spacious home. Enclosed front entry leads into the bright interior w/unique architecture details. Cozy breakfast nook in the Kitchen pops with pure white abundant cabinetry. Master bdrm has walk in closet w/built-ins. Spacious Den & formal dining. Private fenced backyard w/delightful concrete patio flows onto a huge trek deck perfect for outdoor entertaining. Extra deep 2 car garage. An amazing home for the discerning buyer.

ⓘ 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 ≥91°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 11 unhealthy d/yr today · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,298
• − Mortgage interest: −$6,022
• − Property taxes: −$1,612
• − Insurance: −$538
• − Repairs & maintenance: −$1,704
• − Management: −$1,704
• − Depreciation: −$3,127
• Taxable income: $6,592
• Est. tax owed @ 24.0%: −$1,582
• After-tax cash flow: $6,329/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.

Condition & rehab AI · 1 photo

Poor 20/100 Extensive rehab

This manufactured home requires extensive repairs and updates to its exterior, interior, and HVAC systems, significantly impacting its value. Immediate action is needed to address these issues before it can be considered for resale or rental.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major roof — No visible damage, but photos don't show
• Major interior walls/paint — No visible interior, but photos don't show
• Major windows — No visible windows, but photos don't show
• Major foundation/structure — No visible foundation, but photos don't show
• Major HVAC/mechanicals — No visible HVAC, but photos don't show
• Major landscaping/curb appeal — No visible landscaping, but photos don't show

Value-add opportunities

• Both exterior siding repair — Improves curb appeal and structural integrity
• Both roof repair — Essential for structural integrity and water resistance
• Both interior paint and repairs — Enhances interior aesthetics and value
• Both window replacement — Improves energy efficiency and curb appeal
• Both HVAC system replacement — Enhances comfort and energy efficiency
• Both landscaping and curb appeal — Enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
roof · No visible damage, but photos don't show	Major	$15,000–50,000
interior walls/paint · No visible interior, but photos don't show	Major	$15,000–50,000
windows · No visible windows, but photos don't show	Major	$15,000–50,000
foundation/structure · No visible foundation, but photos don't show	Major	$15,000–50,000
HVAC/mechanicals · No visible HVAC, but photos don't show	Major	$15,000–50,000
landscaping/curb appeal · No visible landscaping, but photos don't show	Major	$15,000–50,000
Total estimated repair cost · 7 items		$105,000–350,000

Value-add ROI direction

• Both exterior siding repair — Improves curb appeal and structural integrity ↑
• Both roof repair — Essential for structural integrity and water resistance ↑
• Both interior paint and repairs — Enhances interior aesthetics and value ↑
• Both window replacement — Improves energy efficiency and curb appeal ↑
• Both HVAC system replacement — Enhances comfort and energy efficiency ↑
• Both landscaping and curb appeal — Enhances curb appeal and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Lebanon Community SD 9
• NCES district ID: 4107380
• Math proficiency: 27% ▼ -10.00%
• Reading proficiency: 43% ▼ -4.00%
• Median HH income: $45,264
• Composite: 29.83/100
• National rank: #6418
• State rank: #26 of 58 in OR

Livability — Lebanon

• Score: 71/100
• State rank: #126
• US rank: #7209

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lebanon, OR
• County: Linn County · 70,700 people
• City population: 34,292
• Metro: Albany-Lebanon, OR
• Population (ZIP): 34,292
• Household income: $68,595
• Rent vs Own: 31.7% rent · 68.3% own
• Severe rent burden: 1051.0

Population outlook (Linn County) Hauer SSP2

• Today (2025): 127,026 people
• By 2030: 129,540 · +2.0%
• By 2040: 132,780 · +4.5%
• By 2050: 133,614 · +5.2%
• By 2075: 129,061 · +1.6%
• By 2100: 112,224 · -11.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 7% Two or more races 7%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 5% Slovak 3% Portuguese 3%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5% French/Haitian/Cajun 1%

Political lean MEDSL · Linn

• 2024 margin: Strong R (+24.4) · D 36.2% · R 60.6% · Other 3.1%
• 2008→2024 swing: -13.0pp toward R · 2008: -11.4pp · 2024: -24.4pp
• All cycles: 2024: R+24.4 2020: R+23.4 2016: R+27.8 2012: R+17.2 2008: R+11.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -528.42%
• Current HPI: 221.8977
• Rent YoY: ▲ 4.55%
• Metro: Albany-Lebanon, 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

-22.0% since first listed

7 events — show timeline

• 2026-05-13 Listed $107,500 FSBO.com
• 2024-11-26 Sold (MLS) $180,000 RMLS
• 2024-11-18 Pending — RMLS
• 2024-10-23 Listed $199,900 RMLS
• 2019-09-12 Sold (MLS) $134,750 WVMLS
• 2019-08-16 Contingent — WVMLS
• 2019-08-05 Listed $137,900 WVMLS