300 SE Goodnight Ave #50 · Corvallis, OR 97333

$88,000

2 bd · 1.0 ba · 924 sqft · Manufactured public records · 18 Days on market

Built 2020

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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 +4.9/10.0
• Livability +4.1/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great for low-maintenance living, a first home, or investment potential for college student parents—an affordable alternative to renting! Buy now and sell later after your student graduates! Close to OSU, this 2020 home features an efficient layout, vaulted ceilings, and great natural light. The kitchen includes shaker cabinets, stainless appliances, and smart storage. Enjoy summer at the community pool and basketball court, plus the convenience of a carport with attached storage area.

Key facts

• Stainless appliances
• Natural light
• Shaker cabinets

Tags

• INVESTMENT POTENTIAL
• EFFICIENT LAYOUT
• VAULTED CEILINGS
• NATURAL LIGHT
• SHAKER CABINETS
• STAINLESS APPLIANCES

Property features AI

Finance

• Other: Affordable alternative to renting — marketed toward college student parents; Close to Oregon State University
• HOA & community: Park rent includes use of the community swimming pool; Not an adult-only park

Exterior

• Parking: Detached garage (no garage spaces listed)
• Utilities: City water; City sewer; Electric water heater
• Home design: Single-wide manufactured home; Built in 2020; Entry and main living areas on the main level
• Construction: Composition roof; Shingle and fiber cement siding; Mobile home size 14x56; Manufacturer: Skyline, Model: Roseburg; Serial number 245-000-H-A1
• Exterior features: Park includes a swimming pool; Property near front (unit location described as near front)

Interior

• Kitchen: Stainless appliances; Electric range; Microwave included; Dishwasher; Smart storage
• Bedrooms: Master bedroom on the main level; Second bedroom on the main level
• Flooring: Carpet; Vinyl
• Bathrooms: Full bathroom(s)
• Heating & cooling: Electric forced air heating
• Interior features: Vaulted ceilings; Good natural light; Shaker cabinets
• Laundry & utility: Utility room on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $88k.

Deal economics

• At list price, monthly cash flow is $804 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $88k).
• Recommended offer: $87k (1.5% below list) — sets the bar for market timing.
• Cap rate 17.3% 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.
• Zoned schools: Lincoln Elementary School (331 students, 45% FRL); Corvallis High School (1,284 students, 40% FRL).
• Market conditions: Rents rising (+2.6%/yr); 87 active listings in the ZIP; 11 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 31% of the median local income ($65k/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 $608 of loan paydown is wiped out by about $3k 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 + 2.6% rent growth), your $25k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($87k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $86,680 (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. 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?
3. 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.
4. 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.
5. 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: 1.90% ✓
• Cap rate: 17.25%
• Cash-on-cash: 39.13%
• DSCR: 2.74
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $47,124
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
300 SE Goodnight Ave #56	0.11mi	3/1.0 (+1)	1,008 (+9%)	4mo	$51,000	$51	71

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 · 2.63% rent growth · sell at horizon

5-year hold

• IRR: 34.9%
• Equity multiple: 2.47×
• Total profit: $36,268
• Equity at exit: $13,121

10-year hold

• IRR: 41.6%
• Equity multiple: 4.85×
• Total profit: $94,830
• Equity at exit: $7,609

Cash invested: $24,640 (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 97333

• Rents YoY: 2.6%
• Active inventory: 87
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,669 high
• Mortgage (P&I): −$461
• Tax from tax record: −$17 /mo · $204/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $804

Break-even live

Break-even rent $652

Max offer price $88,000

Occupancy floor 47%

Sensitivity live

Price	-10% $853	-5% $828	+0% $804	+5% $779	+10% $754
Rent	-10% $672	-5% $738	+0% $804	+5% $869	+10% $935
Rate	-1.0pp $848	-0.5pp $826	base $804	+0.5pp $781	+1.0pp $758

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: $22,000
• Closing costs: $2,640
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
900 SE Centerpointe Dr Corvallis, OR	1.0–3.0	1.0–2.0	952	$1,662	$1.74	44d	1	0.25mi
3460 SE Midvale Dr Corvallis, OR	1.0–3.0	1.0–1.5	858	$1,610	$1.88	44d	1	0.34mi
2665 SW Pickford St Unit CNV 57 Corvallis, OR	2.0	1.0	756	$1,395	$1.85	45d	1	0.48mi
2567 SW Pickford St Unit C Corvallis, OR	2.0	1.0	800	$1,295	$1.62	45d	1	0.53mi
100 SE Viewmont Ave Unit 110-A Corvallis, OR	2.0	1.5	1080	$1,550	$1.44	44d	1	0.62mi
445 SW Tunison Ave Unit 445-13 Corvallis, OR	2.0	1.0	760	$1,395	$1.84	44d	1	0.72mi
2000 SE Bethel St Corvallis, OR	3.0	1.0	937	$2,325	$2.48	44d	1	0.78mi
350 SE Lilly Ave Apt 3 Corvallis, OR	1.0	1.0	600	$1,395	$2.33	44d	1	0.89mi
325 SE Lilly Ave Unit A Corvallis, OR	2.0	1.5	856	$1,525	$1.78	44d	1	0.92mi
1750 SE Crystal Lake Dr Unit 1750-E Corvallis, OR	2.0	2.0	954	$1,499	$1.57	44d	1	0.99mi
1680 SE Crystal Lake Dr Unit 1680-E Corvallis, OR	2.0	2.0	954	$1,499	$1.57	44d	1	1.05mi

Listing history 17 events

1. 2026-06-19
   days on market $88,000 Active 18 DOM
2. 2026-06-18
   days on market $88,000 Active 17 DOM
3. 2026-06-17
   days on market $88,000 Active 16 DOM
4. 2026-06-16
   days on market $88,000 Active 15 DOM
5. 2026-06-15
   days on market $88,000 Active 14 DOM
6. 2026-06-14
   days on market $88,000 Active 12 DOM
7. 2026-06-10
   days on market $88,000 Active 9 DOM
8. 2026-06-09
   days on market $88,000 Active 8 DOM
9. 2026-06-08
   days on market $88,000 Active 7 DOM
10. 2026-06-07
    days on market $88,000 Active 6 DOM
11. 2026-06-05
    days on market $88,000 Active 3 DOM
12. 2026-06-03
    days on market $88,000 Active 2 DOM
13. 2026-06-02
    days on marketlisting id $88,000 Active 1 DOM
14. 2026-06-01
    days on market $88,000 Active 15 DOM
15. 2026-05-31
    days on market $88,000 Active 14 DOM
16. 2026-05-30
    days on market $88,000 Active 13 DOM
17. 2026-05-17
    listed $99,000 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: $204 · $17/mo
• Projected year-2 tax: $854 · $71/mo
• Expected delta: +$650/yr (+$54/mo · 319.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 70% chance over 30 yrs
• 🔥 Wildfire 3/10 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: $20,030
• − Mortgage interest: −$4,929
• − Property taxes: −$204
• − Insurance: −$440
• − Repairs & maintenance: −$1,602
• − Management: −$1,602
• − Depreciation: −$2,560
• Taxable income: $8,693
• Est. tax owed @ 24.0%: −$2,086
• After-tax cash flow: $7,556/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): 23,934
• Household income: $65,191
• Rent vs Own: 55.4% rent · 44.6% own
• Severe rent burden: 2038.0

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 (78%)
• Race & ethnicity: White 78% Hispanic / Latino 9% Two or more races 8% Asian 7%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 5% Slovak 4% Portuguese 3%
• Foreign-born: 10% · China, Canada
• Languages at home: 87% English-only · Spanish 5% Chinese 4% Other Indo-European 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: ▼ -376.98%
• Current HPI: 309.2734
• Rent YoY: ▲ 2.63%
• 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

1 event — show timeline

• 2026-05-17 Listed $99,000 WVMLS

Property tax history

+8.8%/yr

Latest (2024): $204 · +470.2% YoY. Source: county tax records.