4055 Royal Ave #140 · Eugene, OR 97402

$230,000

3 bd · 2.0 ba · 1,560 sqft · Manufactured public records · 21 Days on market

Built 1999 Est $154k · 49% over

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Why this score? — see what drove the D 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 +19.4/30.0
• DSCR +6.1/10.0
• 1% rule +4.2/10.0
• Livability +4.0/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Song Brook is one of the premiere 55+ manufactured home parks in Eugene. Come enjoy your retirement living in this 1999 Silvercrest. This home has been lovingly cared for and it shows in the attention to detail both inside and out. Three bedrooms and two baths, the kitchen has granite counters and There is an attached two car garage, a very private covered patio and front porch and beautiful landscaping.

Key facts

• Covered front porch
• Natural light
• Granite countertops

Tags

• NATURAL LIGHT
• SKYLIGHTS
• GRANITE COUNTERTOPS
• CENTER ISLAND
• DEDICATED LAUNDRY ROOM
• COVERED FRONT PORCH

Property features AI

Finance

• Other: Park name: Songbook; Not a senior community
• Financial info: Land lease (lot rent) in effect; monthly lot rent approximately $1,200; Land lease expires December 31, 2026
• HOA & community: Community amenities include pool, lap pool, spa/hot tub, athletic court, weight room, meeting room, party room, gated entry, and on-site management

Exterior

• Parking: Driveway; Attached 2-car garage
• Security: Entry security feature
• Utilities: Public water; Public sewer; Electric service
• Home design: Manufactured home in a park (Residential); Single-story (One level); Unit dimensions approximately 60' x 26'; Manufacturer: Silvercrest; Model: N/A; Main living area approximately 1,573
• Construction: Built in 1999; Concrete perimeter foundation with skirting
• Exterior features: Lap siding; Composition roof; Level lot; Paved road access

Interior

• Kitchen: Island; Dishwasher; Free-standing range; Free-standing refrigerator; Microwave
• Bedrooms: Primary bedroom (Main level); 2nd bedroom; 3rd bedroom
• Flooring: Luxury vinyl plank; Wall-to-wall carpet
• Bathrooms: 2 full bathrooms (both on main level)
• Heating & cooling: Forced air heating; Heat pump (heating and cooling)
• Interior features: Granite surfaces; High ceilings; Jetted tub; Skylights; Luxury vinyl plank flooring; Wall-to-wall carpet; Vinyl window frames; Crawl space foundation access; One-level accessibility
• Laundry & utility: Electric hot water

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $230k.

Deal economics

• At list price, monthly cash flow is $255 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $212k (7.8% below list).
• Recommended offer: $212k (7.8% below list) — sets the bar for 1% rule.
• Cap rate 7.6% 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-.
• Bethel SD 52 (urban): math 18% / reading 34% proficiency, ranked #52 of 58 in OR (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Malabon Elementary School (math 15% / reading 34%, grade F, #309 of 412 statewide, top 77%, 346 students, 66% FRL); Cascade Middle School (math 17% / reading 32%, grade F, #108 of 128 statewide, top 89%, 342 students, 65% FRL); Willamette High School (math 24% / reading 50%, grade F, #85 of 143 statewide, top 61%, 1,516 students, 35% FRL).
• Market conditions: Rents rising (+1.6%/yr); 297 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 1,808 units permitted in Lane County in 2024 (972 in 5+ unit buildings).
• This rent runs 44% of the median local income ($58k/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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($227k) is reasonable based on typical stale-listing flexibility.
• 2 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 $173k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $212,173 (7.8% 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 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?
3. 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.92% ✗
• Cap rate: 7.62%
• Cash-on-cash: 4.75%
• DSCR: 1.21
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $154,440
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4055 Royal Ave #87	0.00mi	3/2.0	1,600 (+3%)	2mo	$184,500	$115	94
4055 Royal Ave #52	0.00mi	3/2.0	1,640 (+5%)	8mo	$215,000	$131	85
4055 Royal Ave #89	0.00mi	3/2.0	1,640 (+5%)	8mo	$147,000	$90	85
4055 Royal Ave #69	0.00mi	3/2.0	1,404 (-10%)	2mo	$85,000	$61	82
4055 Royal Ave #150	0.00mi	3/2.0	1,404 (-10%)	2mo	$210,000	$150	81
4055 Royal Ave #90	0.00mi	3/2.0	1,404 (-10%)	6mo	$139,000	$99	78
4055 Royal Ave #30	0.00mi	3/2.0	1,782 (+14%)	2mo	$139,000	$78	74
4055 Royal Ave #133	0.00mi	4/2.0 (+1)	1,737 (+11%)	4mo	$145,000	$83	73
4055 Royal Ave #111	0.00mi	3/2.0	1,404 (-10%)	13mo	$117,000	$83	73
4055 Royal Ave #107	0.00mi	3/2.0	1,782 (+14%)	5mo	$142,500	$80	72
1343 Taft St	0.62mi	4/2.0 (+1)	1,539 (-1%)	9mo	$375,000	$244	57
326 Lacasa St	0.74mi	4/2.0 (+1)	1,512 (-3%)	6mo	$160,100	$106	50

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 · 1.58% rent growth · sell at horizon

5-year hold

• IRR: -10.4%
• Equity multiple: 0.63×
• Total profit: $-24,094
• Equity at exit: $34,294

10-year hold

• IRR: -3.0%
• Equity multiple: 0.81×
• Total profit: $-12,284
• Equity at exit: $19,886

Cash invested: $64,400 (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 97402

• Rents YoY: 1.6%
• Active inventory: 297
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $2,122 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$119 /mo · $1,431/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$446
• Net cashflow: $255

Break-even live

Break-even rent $1,799

Max offer price $230,000

Occupancy floor 83%

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4057 Concord St Eugene, OR	4.0	1.0	1800	$2,000	$1.11	44d	1	0.32mi
1190 Taft St Unit 1190 Eugene, OR	3.0	1.0	1116	$1,650	$1.48	21d	1	0.48mi
1246 Hughes St Eugene, OR	3.0	2.0	1200	$2,300	$1.92	14d	1	0.57mi
4478 Fergus Ave Eugene, OR	3.0	1.5	1120	$1,695	$1.51	44d	1	0.60mi
128 Chase St Eugene, OR	2.0	1.5	1378	$1,895	$1.38	44d	1	0.68mi
3466 Royal Ave Eugene, OR	3.0	2.0	1604	$2,550	$1.59	21d	1	0.71mi
3358 Richard Ave Eugene, OR	3.0	1.0	1164	$1,995	$1.71	44d	1	0.87mi
4175 Quest Dr Eugene, OR	1.0–3.0	1.0–2.0	983	$2,095	$2.13	13d	6	0.94mi
2106 Golden Gardens St Eugene, OR	3.0	1.0	1410	$1,995	$1.41	44d	1	1.18mi
653 Oakwood Dr Eugene, OR	3.0	2.0	1584	$2,400	$1.52	13d	1	1.25mi
1642 Zoe Ave Eugene, OR	3.0	2.5	1395	$2,695	$1.93	21d	1	1.35mi
1625 Hamlet Ln Eugene, OR	3.0	2.5	1548	$2,395	$1.55	21d	1	1.44mi
1635 Hamlet Ln Eugene, OR	3.0	2.5	1548	$2,100	$1.36	13d	1	1.44mi

Listing history 18 events

1. 2026-06-18
   days on market $230,000 Active 21 DOM
2. 2026-06-17
   days on market $230,000 Active 20 DOM
3. 2026-06-16
   days on market $230,000 Active 19 DOM
4. 2026-06-15
   days on market $230,000 Active 18 DOM
5. 2026-06-14
   days on market $230,000 Active 16 DOM
6. 2026-06-10
   days on market $230,000 Active 13 DOM
7. 2026-06-09
   days on market $230,000 Active 12 DOM
8. 2026-06-08
   days on market $230,000 Active 11 DOM
9. 2026-06-07
   days on market $230,000 Active 10 DOM
10. 2026-06-03
    days on market $230,000 Active 6 DOM
11. 2026-06-02
    days on market $230,000 Active 5 DOM
12. 2026-06-01
    days on market $230,000 Active 4 DOM
13. 2026-05-31
    days on market $230,000 Active 3 DOM
14. 2026-05-30
    days on market $230,000 Active 2 DOM
15. 2026-05-28
    listed $230,000 Active
16. 2021-08-25
    soldstatus $173,000 Sold 407-char remark

    Show marketing remark (407 chars)

    Song Brook is one of the premiere 55+ manufactured home parks in Eugene. Come enjoy your retirement living in this 1999 Silvercrest. This home has been lovingly cared for and it shows in the attention to detail both inside and out. Three bedrooms and two baths, the kitchen has granite counters and There is an attached two car garage, a very private covered patio and front porch and beautiful landscaping.

17. 2021-07-24
    status Pending 407-char remark

    Show marketing remark (407 chars)

    Song Brook is one of the premiere 55+ manufactured home parks in Eugene. Come enjoy your retirement living in this 1999 Silvercrest. This home has been lovingly cared for and it shows in the attention to detail both inside and out. Three bedrooms and two baths, the kitchen has granite counters and There is an attached two car garage, a very private covered patio and front porch and beautiful landscaping.

18. 2021-07-16
    listed $179,900 Active 407-char remark

    Show marketing remark (407 chars)

    Song Brook is one of the premiere 55+ manufactured home parks in Eugene. Come enjoy your retirement living in this 1999 Silvercrest. This home has been lovingly cared for and it shows in the attention to detail both inside and out. Three bedrooms and two baths, the kitchen has granite counters and There is an attached two car garage, a very private covered patio and front porch and beautiful landscaping.

ⓘ 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: $1,431 · $119/mo
• Projected year-2 tax: $2,231 · $186/mo
• Expected delta: +$800/yr (+$67/mo · 55.9%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 13 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,461
• − Mortgage interest: −$12,884
• − Property taxes: −$1,431
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,037
• − Management: −$2,037
• − Depreciation: −$6,691
• Taxable loss: −$769
• Est. tax savings @ 24.0%: +$184
• After-tax cash flow: $3,244/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: Bethel SD 52
• NCES district ID: 4102040
• Math proficiency: 18% ▼ -14.00%
• Reading proficiency: 34% ▼ -14.00%
• Median HH income: $47,860
• Composite: 22.62/100
• National rank: #8066
• State rank: #52 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): 53,823
• Household income: $57,658
• Rent vs Own: 49.3% rent · 50.7% own
• Severe rent burden: 3142.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 17% Two or more races 11% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Italian 4% Lithuanian 3% Portuguese 3%
• Foreign-born: 7% · Canada, China, Vietnam
• Languages at home: 88% English-only · Spanish 9% Other Indo-European 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: ▼ -437.20%
• Current HPI: 298.1167
• Rent YoY: ▲ 1.58%
• 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

+27.8% since first listed

4 events — show timeline

• 2026-05-28 Listed $230,000 RMLS
• 2021-08-25 Sold (MLS) $173,000 RMLS
• 2021-07-24 Pending — RMLS
• 2021-07-16 Listed $179,900 RMLS

Property tax history

+2.5%/yr

Latest (2025): $1,431 · +2.6% YoY. Source: county tax records.