501 Division Ave #28 · Eugene, OR 97404

$45,000

2 bd · 1.0 ba · 530 sqft · Manufactured public records · 31 Days on market

Built 1963

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Single wide manufactured home in centrally located and quiet 55+ Mobile Home Park. Close to shopping, restaurants, doctors, and hospitals. This home offers a spacious living room, ductless heating and cooling, front deck, and large shed! Call your agent today for an easy appointment!

Key facts

• Remodeled bathroom
• Washer and dryer
• Remodeled bedrooms

Tags

• REMODELED BATHROOM
• REMODELED BEDROOMS
• UPDATED FLOORING
• REFRIGERATOR AND STOVE OVEN
• WASHER AND DRYER
• CONVENIENT ACCESS

Property features AI

Finance

• Other: Unit length approximately 53 feet
• Financial info: Land lease in effect (monthly lot rent); Land lease expires May 1, 2026
• HOA & community: Community commons; Located in Lee's Mobile Home Park; Senior community

Exterior

• Parking: Carport; Driveway
• Utilities: Electric fuel; Public water; Public sewer; Cable and satellite internet available
• Home design: Manufactured home in a park; Residential property; Single-story (main level entry); No significant view
• Construction: Built in 1963; Skirting foundation; Manufacturer: Kit
• Exterior features: Aluminum exterior; Membrane roof; Paved road access; Leased land (lot rented monthly)

Interior

• Kitchen: Free-standing range; Free-standing refrigerator; Range hood
• Bedrooms: Primary bedroom on the main level; Second bedroom on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Mini-split heating; Mini-split cooling
• Interior features: Washer and dryer included; Aluminum window frames; Accessible with minimal steps
• Laundry & utility: Washer and dryer included; Electric hot water

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $45k.

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 $45k).
• Recommended offer: $44k (3.0% below list) — sets the bar for market timing.
• Cap rate 34.6% 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-.
• Eugene SD 4J (urban): math 45% / reading 55% proficiency, ranked #10 of 58 in OR (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Awbrey Park Elementary School (math 30% / reading 50%, grade F, #169 of 412 statewide, top 44%, 427 students, 64% FRL); Madison Middle School (math 32% / reading 42%, grade F, #50 of 128 statewide, top 41%, 415 students, 65% FRL); North Eugene High School (1,071 students, 63% FRL) — zoned schools average 64% FRL vs 37% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.4%/yr); 169 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,808 units permitted in Lane County in 2024 (972 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 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 + 3.4% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y 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 $19k; list at $45k implies a 140% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $43,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 3.87% ✓
• Cap rate: 34.64%
• Cash-on-cash: 101.26%
• DSCR: 5.51
• GRM: 2.2

CMA / ARV

• ARV (on-the-fly): $20,140
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
501 Division Ave	0.00mi	2/1.0	528 (-0%)	23mo	$16,000	$30	80
501 Division Ave #9	0.00mi	1/1.0 (-1)	480 (-9%)	8mo	$18,000	$38	72

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 · 3.43% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 5.86×
• Total profit: $61,206
• Equity at exit: $6,710

10-year hold

• IRR: —
• Equity multiple: 12.41×
• Total profit: $143,727
• Equity at exit: $3,891

Cash invested: $12,600 (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 97404

• Rents YoY: 3.4%
• Active inventory: 169
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $1,739 high
• Mortgage (P&I): −$236
• Tax est. 1.5%: −$56 /mo · $675/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $1,063

Break-even live

Break-even rent $394

Max offer price $45,000

Occupancy floor 34%

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
130 River Ave Eugene, OR	1.0–2.0	1.0–1.5	848	$1,600	$1.89	13d	20	0.43mi
1711 River Rd Unit 1 Eugene, OR	1.0	1.0	684	$1,500	$2.19	44d	1	0.67mi
1711 River Rd Unit 04 Eugene, OR	1.0	1.0	684	$1,495	$2.19	21d	1	0.68mi
1711 River Rd Eugene, OR	1.0	1.0	684	$1,500	$2.19	21d	1	0.68mi
3610 Goodpasture Loop Eugene, OR	1.0–2.0	1.0–2.0	802	$2,299	$2.87	13d	15	0.78mi
3950 Goodpasture Loop Eugene, OR	1.0	1.0	634	$1,564	$2.46	13d	5	0.86mi
60 Hatton Ave Eugene, OR	1.0–2.0	1.0–2.0	844	$1,970	$2.33	13d	11	0.94mi
330 Howard Ave Unit A Eugene, OR	1.0	1.0	600	$1,199	$2.00	21d	1	1.07mi
355 Irving Rd Unit 353 Eugene, OR	1.0	1.0	600	$1,295	$2.16	21d	1	1.12mi
1150 Darlene Ln Eugene, OR	1.0–2.0	1.0–2.5	924	$2,285	$2.47	13d	16	1.20mi
1440 John Day Dr Eugene, OR	1.0–3.0	1.0–2.5	1050	$2,349	$2.24	13d	38	1.30mi
470 Alexander Loop Eugene, OR	2.0	1.0–2.0	708	$1,774	$2.51	13d	15	1.42mi
1367 Umpqua Ave Eugene, OR	1.0–2.0	1.0–2.0	850	$2,675	$3.15	13d	46	1.42mi

Listing history 25 events

1. 2026-06-18
   days on market $45,000 Active 31 DOM
2. 2026-06-17
   days on market $45,000 Active 30 DOM
3. 2026-06-16
   days on market $45,000 Active 29 DOM
4. 2026-06-15
   days on market $45,000 Active 28 DOM
5. 2026-06-14
   days on market $45,000 Active 26 DOM
6. 2026-06-13
   days on market $45,000 Active 25 DOM
7. 2026-06-10
   days on market $45,000 Active 23 DOM
8. 2026-06-09
   days on market $45,000 Active 22 DOM
9. 2026-06-08
   days on market $45,000 Active 21 DOM
10. 2026-06-07
    days on market $45,000 Active 20 DOM
11. 2026-06-05
    days on market $45,000 Active 17 DOM
12. 2026-06-03
    days on market $45,000 Active 16 DOM
13. 2026-06-02
    days on market $45,000 Active 15 DOM
14. 2026-06-01
    days on market $45,000 Active 14 DOM
15. 2026-05-31
    days on market $45,000 Active 13 DOM
16. 2026-05-30
    days on market $45,000 Active 12 DOM
17. 2026-03-31
    listed $45,000 Active 707-char remark
18. 2022-02-23
    soldstatus $18,750 Sold 285-char remark

    Show marketing remark (285 chars)

    Single wide manufactured home in centrally located and quiet 55+ Mobile Home Park. Close to shopping, restaurants, doctors, and hospitals. This home offers a spacious living room, ductless heating and cooling, front deck, and large shed! Call your agent today for an easy appointment!

19. 2022-01-26
    status Pending 285-char remark

    Show marketing remark (285 chars)

    Single wide manufactured home in centrally located and quiet 55+ Mobile Home Park. Close to shopping, restaurants, doctors, and hospitals. This home offers a spacious living room, ductless heating and cooling, front deck, and large shed! Call your agent today for an easy appointment!

20. 2021-11-30
    price $25,000 285-char remark

    Show marketing remark (285 chars)

    Single wide manufactured home in centrally located and quiet 55+ Mobile Home Park. Close to shopping, restaurants, doctors, and hospitals. This home offers a spacious living room, ductless heating and cooling, front deck, and large shed! Call your agent today for an easy appointment!

21. 2021-11-21
    status Active 285-char remark

    Show marketing remark (285 chars)

    Single wide manufactured home in centrally located and quiet 55+ Mobile Home Park. Close to shopping, restaurants, doctors, and hospitals. This home offers a spacious living room, ductless heating and cooling, front deck, and large shed! Call your agent today for an easy appointment!

22. 2021-11-19
    status Pending 285-char remark

    Show marketing remark (285 chars)

    Single wide manufactured home in centrally located and quiet 55+ Mobile Home Park. Close to shopping, restaurants, doctors, and hospitals. This home offers a spacious living room, ductless heating and cooling, front deck, and large shed! Call your agent today for an easy appointment!

23. 2021-10-17
    status Active 285-char remark

    Show marketing remark (285 chars)

    Single wide manufactured home in centrally located and quiet 55+ Mobile Home Park. Close to shopping, restaurants, doctors, and hospitals. This home offers a spacious living room, ductless heating and cooling, front deck, and large shed! Call your agent today for an easy appointment!

24. 2021-10-08
    status Pending 285-char remark

    Show marketing remark (285 chars)

    Single wide manufactured home in centrally located and quiet 55+ Mobile Home Park. Close to shopping, restaurants, doctors, and hospitals. This home offers a spacious living room, ductless heating and cooling, front deck, and large shed! Call your agent today for an easy appointment!

25. 2021-09-09
    listed $27,500 Active 285-char remark

    Show marketing remark (285 chars)

    Single wide manufactured home in centrally located and quiet 55+ Mobile Home Park. Close to shopping, restaurants, doctors, and hospitals. This home offers a spacious living room, ductless heating and cooling, front deck, and large shed! Call your agent today for an easy appointment!

ⓘ 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 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 13 unhealthy d/yr today · 15 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,874
• − Mortgage interest: −$2,521
• − Property taxes: −$675
• − Insurance: −$225
• − Repairs & maintenance: −$1,670
• − Management: −$1,670
• − Depreciation: −$1,309
• Taxable income: $12,804
• Est. tax owed @ 24.0%: −$3,073
• After-tax cash flow: $9,685/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: Eugene SD 4J
• NCES district ID: 4104740
• Math proficiency: 45% ▼ -2.00%
• Reading proficiency: 55% ▼ -4.00%
• Median HH income: $43,688
• Composite: 42.15/100
• National rank: #3302
• State rank: #10 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): 34,244
• Household income: $86,776
• Rent vs Own: 29.1% rent · 70.9% own
• Severe rent burden: 1056.0

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 (80%)
• Race & ethnicity: White 80% Hispanic / Latino 10% Two or more races 9% Asian 2% Black 1% Native American 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Portuguese 4% Italian 4% Slovak 3%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 5% German/W. Germanic 1% Other Asian/Pacific 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: ▼ -523.41%
• Current HPI: 294.7988
• Rent YoY: ▲ 3.43%
• 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

+63.6% since first listed

9 events — show timeline

• 2026-03-31 Listed $45,000 RMLS
• 2022-02-23 Sold (MLS) $18,750 RMLS
• 2022-01-26 Pending — RMLS
• 2021-11-30 Price Changed $25,000 RMLS
• 2021-11-21 Relisted — RMLS
• 2021-11-19 Pending — RMLS
• 2021-10-17 Relisted — RMLS
• 2021-10-08 Pending — RMLS
• 2021-09-09 Listed $27,500 RMLS

Property tax history

-36.9%/yr

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