200 Market St #247 · Lebanon, OR 97355

$129,900

3 bd · 2.0 ba · 1,493 sqft · Other public records · 23 Days on market

Built 2010

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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
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• ARV discount +7.5/15.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great manufactured home at an affordable price! This spacious 3 bed 2 bath home has an inviting open concept with a den & living room providing tons of additional space for entertaining. With tall vaulted ceilings, large pantry closet, indoor utility room, low maintenance lot & situated in a convenient location near shopping, parks & schools. What more can you ask for? Don't miss this great opportunity to own your own home! Call TODAY!

Key facts

• Open floor plan
• Generous kitchen
• Indoor utility room

Tags

• OPEN FLOOR PLAN
• VAULTED CEILINGS
• GENEROUS KITCHEN
• INDOOR UTILITY ROOM
• MULTIPLE LIVING SPACES

Property features AI

Finance

• Other: Affordable living with nearby shopping, parks, and schools
• HOA & community: Located in Santiam Village (park)

Exterior

• Parking: Carport; 1 garage space
• Utilities: City water; City sewer; Electric water heater; Electric power
• Home design: Double wide mobile home; Built in 2010; Located in Santiam Village
• Construction: T111 siding; Composition roof
• Exterior features: Deck

Interior

• Kitchen: Dishwasher; Electric range; Generous kitchen
• Bedrooms: Master bedroom on main level (approx. 13'10" x 13'2"); Second bedroom on main level (approx. 9'6" x 12'7"); Third bedroom on main level (approx. 9'8" x 13'2")
• Flooring: Tile; Laminate; Luxury vinyl plank
• Bathrooms: Two bathrooms
• Heating & cooling: Electric heating; Heat pump
• Interior features: Vaulted ceilings; Open floor plan; Pantry
• Laundry & utility: Indoor utility room; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $130k.

Deal economics

• At list price, monthly cash flow is $647 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $128k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.3% 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: health & safety C-, amenities D+, commute F.
• 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.
• Zoned schools: Riverview School (math 24% / reading 44%, grade F, #218 of 412 statewide, top 58%, 401 students, 69% FRL) — zoned schools average 69% FRL vs 53% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• 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 33% 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 $898 of loan paydown is wiped out by about $4k 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 $36k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $110k; 18% 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 $127,951 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.44% ✓
• Cap rate: 12.27%
• Cash-on-cash: 21.34%
• DSCR: 1.95
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.55% rent growth · sell at horizon

5-year hold

• IRR: 15.5%
• Equity multiple: 1.64×
• Total profit: $23,111
• Equity at exit: $19,369

10-year hold

• IRR: 25.3%
• Equity multiple: 3.36×
• Total profit: $85,705
• Equity at exit: $11,231

Cash invested: $36,372 (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: 5.8×

Monthly cashflow live

• Estimated rent: $1,874 high
• Mortgage (P&I): −$681
• Tax from tax record: −$98 /mo · $1,179/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $647

Break-even live

Break-even rent $1,055

Max offer price $129,900

Occupancy floor 60%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
86 Weldwood Dr Lebanon, OR	2.0	2.0	1222	$1,650	$1.35	43d	1	0.13mi
26 Sand Ridge Ct Lebanon, OR	3.0	2.5	1696	$2,345	$1.38	43d	1	0.30mi
2656 S Main Rd #107 Lebanon, OR	3.0	2.5	1402	$1,950	$1.39	43d	1	0.43mi
300 Sand Ridge Ct Lebanon, OR	1.0–2.0	1.0–2.0	944	$1,525	$1.61	43d	6	0.48mi
3463 Snow Bird Dr Lebanon, OR	2.0	2.0	1621	$2,200	$1.36	43d	1	0.51mi
362 Seven Oaks Ln Lebanon, OR	3.0	2.5	1513	$2,250	$1.49	43d	2	0.63mi
2180 Franklin St Lebanon, OR	1.0–2.0	1.0–2.0	862	$1,695	$1.97	43d	6	0.67mi
E Airport Rd Lebanon, OR	1.0–3.0	1.0–2.0	993	$1,995	$2.01	43d	14	0.76mi
1956 S Second St Lebanon, OR	1.0–2.0	1.0–2.0	840	$1,445	$1.72	43d	7	0.79mi
1900 S 2nd St Unit A304 Lebanon, OR	3.0	2.0	1177	$1,700	$1.44	43d	1	0.84mi
1900 S Second St Unit A201 Lebanon, OR	2.0	2.0	1078	$1,450	$1.35	43d	1	0.84mi
1096 Fuji Ln Lebanon, OR	3.0	2.0	1300	$2,395	$1.84	43d	1	0.95mi
929 Wassom St Unit 929 Lebanon, OR	2.0	2.0	1202	$1,800	$1.50	43d	1	0.96mi
975 Wassom St Lebanon, OR	2.0	1.5	928	$1,525	$1.64	43d	1	1.01mi
1515 David Dr Unit 1515-DA Lebanon, OR	2.0	1.0	1104	$1,450	$1.31	43d	1	1.14mi
2400 12th St Lebanon, OR	1.0–2.0	1.0	926	$1,600	$1.73	43d	6	1.22mi
640 F St Lebanon, OR	2.0	1.0	980	$1,435	$1.46	43d	1	1.27mi

Listing history 27 events

1. 2026-06-19
   days on market $129,900 Active 23 DOM
2. 2026-06-18
   days on market $129,900 Active 22 DOM
3. 2026-06-17
   days on market $129,900 Active 21 DOM
4. 2026-06-16
   days on market $129,900 Active 20 DOM
5. 2026-06-15
   days on market $129,900 Active 19 DOM
6. 2026-06-14
   days on market $129,900 Active 17 DOM
7. 2026-06-13
   days on market $129,900 Active 16 DOM
8. 2026-06-10
   days on market $129,900 Active 14 DOM
9. 2026-06-09
   days on market $129,900 Active 13 DOM
10. 2026-06-08
    days on market $129,900 Active 12 DOM
11. 2026-06-07
    pricedays on market $129,900 Active 11 DOM
12. 2026-06-03
    days on market $145,000 Active 7 DOM
13. 2026-06-02
    days on market $145,000 Active 6 DOM
14. 2026-06-01
    days on market $145,000 Active 5 DOM
15. 2026-05-31
    days on market $145,000 Active 4 DOM
16. 2026-05-30
    days on market $145,000 Active 3 DOM
17. 2026-05-27
    listed $145,000 Active
18. 2022-09-14
    soldstatus $110,000 Sold 451-char remark

    Show marketing remark (451 chars)

    Great manufactured home at an affordable price! This spacious 3 bed 2 bath home has an inviting open concept with a den & living room providing tons of additional space for entertaining. With tall vaulted ceilings, large pantry closet, indoor utility room, low maintenance lot & situated in a convenient location near shopping, parks & schools. What more can you ask for? Don't miss this great opportunity to own your own home! Call TODAY!

19. 2022-09-14
    soldstatus $110,000 Closed 451-char remark

    Show marketing remark (451 chars)

    Great manufactured home at an affordable price! This spacious 3 bed 2 bath home has an inviting open concept with a den & living room providing tons of additional space for entertaining. With tall vaulted ceilings, large pantry closet, indoor utility room, low maintenance lot & situated in a convenient location near shopping, parks & schools. What more can you ask for? Don't miss this great opportunity to own your own home! Call TODAY!

20. 2022-08-01
    status Pending 451-char remark

    Show marketing remark (451 chars)

    Great manufactured home at an affordable price! This spacious 3 bed 2 bath home has an inviting open concept with a den & living room providing tons of additional space for entertaining. With tall vaulted ceilings, large pantry closet, indoor utility room, low maintenance lot & situated in a convenient location near shopping, parks & schools. What more can you ask for? Don't miss this great opportunity to own your own home! Call TODAY!

21. 2022-08-01
    historical Active under Contract 451-char remark

    Show marketing remark (451 chars)

    Great manufactured home at an affordable price! This spacious 3 bed 2 bath home has an inviting open concept with a den & living room providing tons of additional space for entertaining. With tall vaulted ceilings, large pantry closet, indoor utility room, low maintenance lot & situated in a convenient location near shopping, parks & schools. What more can you ask for? Don't miss this great opportunity to own your own home! Call TODAY!

22. 2022-07-02
    price $113,500 451-char remark

    Show marketing remark (451 chars)

    Great manufactured home at an affordable price! This spacious 3 bed 2 bath home has an inviting open concept with a den & living room providing tons of additional space for entertaining. With tall vaulted ceilings, large pantry closet, indoor utility room, low maintenance lot & situated in a convenient location near shopping, parks & schools. What more can you ask for? Don't miss this great opportunity to own your own home! Call TODAY!

23. 2022-07-01
    price $113,500 451-char remark

    Show marketing remark (451 chars)

    Great manufactured home at an affordable price! This spacious 3 bed 2 bath home has an inviting open concept with a den & living room providing tons of additional space for entertaining. With tall vaulted ceilings, large pantry closet, indoor utility room, low maintenance lot & situated in a convenient location near shopping, parks & schools. What more can you ask for? Don't miss this great opportunity to own your own home! Call TODAY!

24. 2022-06-26
    listed $123,500 Active 451-char remark

    Show marketing remark (451 chars)

    Great manufactured home at an affordable price! This spacious 3 bed 2 bath home has an inviting open concept with a den & living room providing tons of additional space for entertaining. With tall vaulted ceilings, large pantry closet, indoor utility room, low maintenance lot & situated in a convenient location near shopping, parks & schools. What more can you ask for? Don't miss this great opportunity to own your own home! Call TODAY!

25. 2022-06-22
    listed $123,500 Active 451-char remark

    Show marketing remark (451 chars)

    Great manufactured home at an affordable price! This spacious 3 bed 2 bath home has an inviting open concept with a den & living room providing tons of additional space for entertaining. With tall vaulted ceilings, large pantry closet, indoor utility room, low maintenance lot & situated in a convenient location near shopping, parks & schools. What more can you ask for? Don't miss this great opportunity to own your own home! Call TODAY!

26. 2022-02-15
    historical
27. 2022-01-19
    listed $125,000 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: $1,179 · $98/mo
• Projected year-2 tax: $1,260 · $105/mo
• Expected delta: +$81/yr (+$7/mo · 6.9%)

ⓘ 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 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: $22,489
• − Mortgage interest: −$7,276
• − Property taxes: −$1,179
• − Insurance: −$650
• − Repairs & maintenance: −$1,799
• − Management: −$1,799
• − Depreciation: −$3,779
• Taxable income: $6,007
• Est. tax owed @ 24.0%: −$1,442
• After-tax cash flow: $6,322/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: 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

+16.0% since first listed

11 events — show timeline

• 2026-05-27 Listed $145,000 WVMLS
• 2022-09-14 Sold (MLS) $110,000 RMLS
• 2022-09-14 Sold (MLS) $110,000 WVMLS
• 2022-08-01 Pending — RMLS
• 2022-08-01 Contingent — WVMLS
• 2022-07-02 Price Changed $113,500 WVMLS
• 2022-07-01 Price Changed $113,500 RMLS
• 2022-06-26 Listed $123,500 RMLS
• 2022-06-22 Listed $123,500 WVMLS
• 2022-02-15 Listing Removed — WVMLS
• 2022-01-19 Listed $125,000 WVMLS

Property tax history

+2.7%/yr

Latest (2025): $1,179 · +3.4% YoY. Source: county tax records.