1600 Rhododendron Dr #278 · Florence, OR 97439

$209,500

2 bd · 2.0 ba · 924 sqft · Manufactured public records · 135 Days on market

Built 1978 7,405 sqft lot $227/sqft · 19% above area Est $320k · 34% under $335/mo HOA · 20% of rent

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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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +7.1/30.0
• Schools +3.7/10.0
• Livability +3.5/5.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.3/10.0

Listing remarks MLS

Welcome to Greentrees, a sought-after 55+ gated community in scenic Florence, Oregon. This inviting 2-bedroom, 1.5-bath home offers brand-new luxury vinyl plank flooring in the kitchen, dining room and bonus room, providing a modern look with easy maintenance. The functional floor plan is ideal for comfortable everyday living.Outside, you’ll appreciate dedicated RV parking and a tool shed with electricity—perfect for projects, storage, or hobbies. Enjoy the peace of mind that comes with living in a gated community known for its friendly atmosphere and well-kept surroundings. Greentrees Village offers secure gated entry, clubhouse with pool, spa, fitness room, community events, walking paths, and RV/boat storage. HOA includes water, sewer, and trash. Conveniently located near shopping, dining, medical services, and the Oregon coast, this home offers a relaxed coastal lifestyle with all the essentials close by.

Key facts

• Gated community
• Fitness room
• Dedicated rv parking

Tags

• GATED COMMUNITY
• LUXURY VINYL PLANK FLOORING
• DEDICATED RV PARKING
• TOOL SHED WITH ELECTRICITY
• CLUBHOUSE WITH POOL
• FITNESS ROOM

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $210k.

Deal economics

• At list price, monthly cash flow is $-301 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $156k (25.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $171k (18.2% below list).
• Recommended offer: $156k (25.4% below list) — sets the bar for cash-flow.
• Cap rate 4.6% vs local median 2.6% in Florence — 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 70/100 on livability (#142 in OR) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing A, crime A-; Watch: employment C-, amenities F, commute F.
• Siuslaw SD 97J (town): math 33% / reading 50% proficiency, ranked #106 of 183 in OR (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Siuslaw Elementary School (math 22% / reading 37%, grade F, #263 of 412 statewide, top 68%, 520 students, 68% FRL); Siuslaw Middle School (math 15% / reading 37%, grade F, #101 of 128 statewide, top 80%, 270 students, 68% FRL); Siuslaw High School (math 24% / reading 75%, grade D+, #32 of 143 statewide, top 34%, 459 students, 68% FRL).
• Market conditions: 416 active listings in the ZIP; 1,808 units permitted in Lane County in 2024 (972 in 5+ unit buildings).

Forward outlook

• In year one you build about $22k of equity ($1k loan paydown + $21k appreciation (10.0% local appreciation)).
• Lane County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 135 days — a 12% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y ago; this cycle's ask has dropped $13k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $155k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $156,378 (25.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 135 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 0.82% ✗
• Cap rate: 4.57%
• Cash-on-cash: -6.15%
• DSCR: 0.73
• GRM: 10.2

CMA / ARV

• ARV (median comp): $319,544
• List price: $209,500
• Delta: -34.44%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1600 Rhododendron Dr #131	0.00mi	2/1.0	924 (0%)	2mo	$180,000	$195	94
1600 Rhododendron Dr #103	0.00mi	2/2.0	938 (+2%)	6mo	$215,000	$229	93
1600 Rhododendron Dr #171	0.00mi	2/1.0	924 (0%)	10mo	$250,000	$271	88
1600 Rhododendron Dr #57	0.00mi	2/2.0	938 (+2%)	14mo	$185,000	$197	86
1601 Rhododendron Dr W #516	0.28mi	2/2.0	924 (0%)	15mo	$285,000	$308	75
1600 Rhododendron Dr #91	0.00mi	2/1.0	1,008 (+9%)	10mo	$170,000	$169	72
1600 Rhododendron Dr #275	0.00mi	2/2.0	1,022 (+11%)	17mo	$145,000	$142	68
1601 Rhododendron Dr #506	0.28mi	2/1.0	924 (0%)	18mo	$230,000	$249	68
1601 Rhododendron Dr #657	0.28mi	2/2.0	960 (+4%)	17mo	$230,000	$240	66
1600 Rhododendron Dr #230	0.21mi	2/1.0	840 (-9%)	14mo	$125,000	$149	59
1600 Rhododendron Dr Unit SP 4	0.21mi	2/2.0	840 (-9%)	20mo	$170,000	$202	58
1601 Rhododendron Dr #693	0.28mi	2/1.0	840 (-9%)	14mo	$295,000	$351	56

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.0%
• Equity multiple: 2.62×
• Total profit: $95,100
• Equity at exit: $188,734

10-year hold

• IRR: 18.3%
• Equity multiple: 6.04×
• Total profit: $295,419
• Equity at exit: $407,012

Cash invested: $58,660 (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 97439

• Home prices YoY: 2.5%
• Active inventory: 416
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,714 medium
• Mortgage (P&I): −$1,099
• Tax from tax record: −$134 /mo · $1,609/yr
• Insurance: −$87
• HOA: −$335
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $-301

Break-even live

Break-even rent $2,095

Max offer price $156,378

Occupancy floor —

Sensitivity live

Price	-10% $-182	-5% $-241	+0% $-301	+5% $-360	+10% $-419
Rent	-10% $-436	-5% $-368	+0% $-301	+5% $-233	+10% $-165
Rate	-1.0pp $-195	-0.5pp $-247	base $-301	+0.5pp $-355	+1.0pp $-410

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: $52,375
• Closing costs: $6,285
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $335 · $4,020/yr
• Likely covers: watersewertrashelectricpoolsecurity

Listing history 33 events

1. 2026-06-21
   days on market $209,500 Active 135 DOM
2. 2026-06-21
   days on market $209,500 Active 134 DOM
3. 2026-06-18
   days on market $209,500 Active 132 DOM
4. 2026-06-17
   days on market $209,500 Active 131 DOM
5. 2026-06-16
   days on market $209,500 Active 130 DOM
6. 2026-06-15
   days on market $209,500 Active 129 DOM
7. 2026-06-13
   days on market $209,500 Active 127 DOM
8. 2026-06-12
   days on market $209,500 Active 126 DOM
9. 2026-06-09
   days on market $209,500 Active 123 DOM
10. 2026-06-08
    days on market $209,500 Active 122 DOM
11. 2026-06-08
    days on market $209,500 Active 121 DOM
12. 2026-06-07
    days on market $209,500 Active 120 DOM
13. 2026-06-04
    days on market $209,500 Active 117 DOM
14. 2026-06-02
    days on market $209,500 Active 116 DOM
15. 2026-06-01
    days on market $209,500 Active 115 DOM
16. 2026-05-31
    days on market $209,500 Active 114 DOM
17. 2026-04-29
    price $209,500 934-char remark

    Show marketing remark (934 chars)

    Welcome to Greentrees, a sought-after 55+ gated community in scenic Florence, Oregon. This inviting 2-bedroom, 1.5-bath home offers brand-new luxury vinyl plank flooring in the kitchen, dining room and bonus room, providing a modern look with easy maintenance. The functional floor plan is ideal for comfortable everyday living.Outside, you’ll appreciate dedicated RV parking and a tool shed with electricity—perfect for projects, storage, or hobbies. Enjoy the peace of mind that comes with living in a gated community known for its friendly atmosphere and well-kept surroundings. Greentrees Village offers secure gated entry, clubhouse with pool, spa, fitness room, community events, walking paths, and RV/boat storage. HOA includes water, sewer, and trash. Conveniently located near shopping, dining, medical services, and the Oregon coast, this home offers a relaxed coastal lifestyle with all the essentials close by.

18. 2026-02-06
    listed $222,500 Active 934-char remark

    Show marketing remark (934 chars)

    Welcome to Greentrees, a sought-after 55+ gated community in scenic Florence, Oregon. This inviting 2-bedroom, 1.5-bath home offers brand-new luxury vinyl plank flooring in the kitchen, dining room and bonus room, providing a modern look with easy maintenance. The functional floor plan is ideal for comfortable everyday living.Outside, you’ll appreciate dedicated RV parking and a tool shed with electricity—perfect for projects, storage, or hobbies. Enjoy the peace of mind that comes with living in a gated community known for its friendly atmosphere and well-kept surroundings. Greentrees Village offers secure gated entry, clubhouse with pool, spa, fitness room, community events, walking paths, and RV/boat storage. HOA includes water, sewer, and trash. Conveniently located near shopping, dining, medical services, and the Oregon coast, this home offers a relaxed coastal lifestyle with all the essentials close by.

19. 2020-03-12
    soldstatus $155,000 Sold 284-char remark

    Show marketing remark (284 chars)

    Large addition to the 66x14 manufactured home. Newer vinyl clad windows, updated kitchen counters, flooring, ductless heat pump. Front kitchen with 2 hutches, great home for entertaining. Beautiful yard, palm trees, RV parking with hookups, deck, shop. Neat & clean-Move in ready.

20. 2020-03-12
    soldstatus $155,000

    Show marketing remark (284 chars)

    Large addition to the 66x14 manufactured home. Newer vinyl clad windows, updated kitchen counters, flooring, ductless heat pump. Front kitchen with 2 hutches, great home for entertaining. Beautiful yard, palm trees, RV parking with hookups, deck, shop. Neat & clean-Move in ready.

21. 2020-01-11
    historical 284-char remark

    Show marketing remark (284 chars)

    Large addition to the 66x14 manufactured home. Newer vinyl clad windows, updated kitchen counters, flooring, ductless heat pump. Front kitchen with 2 hutches, great home for entertaining. Beautiful yard, palm trees, RV parking with hookups, deck, shop. Neat & clean-Move in ready.

22. 2020-01-11
    listed $165,000 284-char remark

    Show marketing remark (284 chars)

    Large addition to the 66x14 manufactured home. Newer vinyl clad windows, updated kitchen counters, flooring, ductless heat pump. Front kitchen with 2 hutches, great home for entertaining. Beautiful yard, palm trees, RV parking with hookups, deck, shop. Neat & clean-Move in ready.

23. 2016-06-27
    soldstatus $70,000 Sold
24. 2016-06-27
    soldstatus $70,000
25. 2016-05-16
    status Pending
26. 2016-05-09
    status Active
27. 2016-04-08
    status Pending
28. 2016-03-14
    price $72,900
29. 2016-02-25
    status Active
30. 2016-02-17
    status Pending
31. 2016-01-29
    price $74,900
32. 2015-12-04
    listed $78,000 Active
33. 1999-09-10
    soldstatus $58,715

ⓘ 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: $1,609 · $134/mo
• Projected year-2 tax: $2,032 · $169/mo
• Expected delta: +$424/yr (+$35/mo · 26.3%)

ⓘ 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 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥77°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,571
• − Mortgage interest: −$11,735
• − Property taxes: −$1,609
• − Insurance: −$1,048
• − Repairs & maintenance: −$1,646
• − Management: −$1,646
• − HOA: −$4,020
• − Depreciation: −$6,095
• Taxable loss: −$7,226
• Est. tax savings @ 24.0%: +$1,734
• After-tax cash flow: $-1,874/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: Siuslaw SD 97J
• NCES district ID: 4105100
• Math proficiency: 33% ▼ -3.00%
• Reading proficiency: 50% ▼ -2.00%
• Median HH income: $36,892
• Composite: 36.82/100
• National rank: #9169
• State rank: #106 of 183 in OR

Livability — Florence

• Score: 70/100
• State rank: #142
• US rank: #8094

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Florence, OR
• Population (ZIP): 15,643

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 5% Two or more races 5% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 4% Portuguese 3% Slovak 3%
• Foreign-born: 5% · Canada, China
• Languages at home: 96% English-only · Spanish 1% 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: ▲ 17.79%
• Current HPI: 717.84
• Rent YoY: —
• Metro: —
• 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

+256.8% since first listed

17 events — show timeline

• 2026-04-29 Price Changed $209,500 RMLS
• 2026-02-06 Listed $222,500 RMLS
• 2020-03-12 Sold (Public Records) $155,000 Public Records
• 2020-03-12 Sold (MLS) $155,000 RMLS
• 2020-01-11 Listed $165,000 RMLS
• 2020-01-11 Delisted — RMLS
• 2016-06-27 Sold (Public Records) $70,000 Public Records
• 2016-06-27 Sold (MLS) $70,000 RMLS
• 2016-05-16 Pending — RMLS
• 2016-05-09 Relisted — RMLS
• 2016-04-08 Pending — RMLS
• 2016-03-14 Price Changed $72,900 RMLS
• 2016-02-25 Relisted — RMLS
• 2016-02-17 Pending — RMLS
• 2016-01-29 Price Changed $74,900 RMLS
• 2015-12-04 Listed $78,000 RMLS
• 1999-09-10 Sold (Public Records) $58,715 Public Records

Property tax history

+2.9%/yr

Latest (2025): $1,609 · +3.0% YoY. Source: county tax records.