700 N Mill St #69 · Creswell, OR 97426

$124,900

3 bd · 2.0 ba · 1,404 sqft · Manufactured public records · 55 Days on market

Built 1996 $89/sqft · at area comps Est $120k · at est.

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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 +8.7/10.0
• ARV discount +5.5/15.0
• Schools +4.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice move-in ready 1996 Marlette manufactured home in a quiet park in Creswell. Only $655/mo space rent, noticeably lower than most other parks. This 3 Bedroom, 2 Bath home includes a primary with ensuite bath, and is nicely updated with newer laminate floors, stainless kitchen appliances, unique chalkboard cabinet faces, and a brand new heat pump and furnace installed last year. Includes carport and storage shed, and even has a nice fenced back yard. Come enjoy the peaceful lifestyle of this great park.

Key facts

• New heat pump
• Fenced back yard
• Move in ready

Tags

• MOVE IN READY
• UPDATED LAMINATE FLOORS
• STAINLESS KITCHEN APPLIANCES
• NEW HEAT PUMP
• FENCED BACK YARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $574 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $121k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.8% vs local median 2.7% in Creswell — 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 76/100 on livability (#80 in OR, #3,631 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: amenities D+, commute F.
• Creswell SD 40 (town): math 37% / reading 51% proficiency, ranked #78 of 183 in OR (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Creslane Elementary School (math 15% / reading 34%, grade F, #309 of 412 statewide, top 77%, 509 students, 68% FRL); Creswell Middle School (math 22% / reading 47%, grade F, #61 of 128 statewide, top 54%, 265 students, 43% FRL); Creswell High School (360 students, 37% FRL) — zoned schools at 49% FRL track the district average.
• Zoned-school proficiency averages 30% at this address vs 44% district-wide (-14 pts) — the specific schools serving this property underperform the Creswell SD 40 average; the district grade overstates school quality for this exact location.
• Market conditions: 67 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $864 of loan paydown is wiped out by about $4k 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 + 3.0% rent growth), your $35k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.

Recommended offer $121,153 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.37% ✓
• Cap rate: 11.81%
• Cash-on-cash: 19.70%
• DSCR: 1.88
• GRM: 6.1

CMA / ARV

• ARV (median comp): $119,500
• List price: $124,900
• Delta: 4.52%
• Verdict: FAIR
• Comps: 6 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
700 N Mill St #112	0.00mi	3/2.0	1,296 (-8%)	3mo	$140,500	$108	85
700 N Mill St	0.01mi	3/2.0	1,296 (-8%)	20mo	$66,000	$51	70
700 N Mill St #40	0.00mi	3/2.0	1,512 (+8%)	24mo	$145,000	$96	67
700 N Mill St #45	0.00mi	3/2.0	1,232 (-12%)	15mo	$124,900	$101	67
311 Creswood Dr	0.46mi	2/2.0 (-1)	1,536 (+9%)	1mo	$205,000	$133	58
241 CRESWOOD Dr	0.46mi	3/2.0	1,248 (-11%)	17mo	$310,000	$248	46
33497 Scott Ave	0.53mi	3/2.0	1,539 (+10%)	18mo	$395,000	$257	44
475 Scott Ave	0.47mi	2/2.0 (-1)	1,215 (-14%)	15mo	$375,000	$309	38

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.7%
• Equity multiple: 1.47×
• Total profit: $16,296
• Equity at exit: $18,623

10-year hold

• IRR: 20.7%
• Equity multiple: 2.75×
• Total profit: $61,159
• Equity at exit: $10,799

Cash invested: $34,972 (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 97426

• Home prices YoY: -29.1%
• Active inventory: 67
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,710 high
• Mortgage (P&I): −$655
• Tax from tax record: −$70 /mo · $836/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $574

Break-even live

Break-even rent $983

Max offer price $124,900

Occupancy floor 61%

Sensitivity live

Price	-10% $645	-5% $609	+0% $574	+5% $539	+10% $503
Rent	-10% $439	-5% $507	+0% $574	+5% $642	+10% $709
Rate	-1.0pp $637	-0.5pp $606	base $574	+0.5pp $542	+1.0pp $509

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
149 S Front St Creswell, OR	4.0	2.0	1564	$2,100	$1.34	45d	1	0.58mi
101 D St Creswell, OR	3.0	1.0	1278	$2,095	$1.64	15d	1	0.64mi
92 N 8th St Unit 97 Creswell, OR	2.0	1.0	988	$1,295	$1.31	45d	1	0.78mi
101 N 10th St Apt 4 Creswell, OR	2.0	1.0	950	$1,295	$1.36	45d	1	0.87mi
703 Kings Row Creswell, OR	2.0	1.0	936	$1,395	$1.49	45d	1	0.92mi
703 Kings Row Creswell, OR	2.0	1.0	936	$1,395	$1.49	15d	1	0.92mi

Listing history 17 events

1. 2026-06-19
   status $124,900 Pending 55 DOM
2. 2026-06-18
   days on market $124,900 Active 55 DOM
3. 2026-06-17
   days on market $124,900 Active 54 DOM
4. 2026-06-16
   days on market $124,900 Active 53 DOM
5. 2026-06-15
   days on market $124,900 Active 52 DOM
6. 2026-06-14
   days on market $124,900 Active 50 DOM
7. 2026-06-10
   days on market $124,900 Active 47 DOM
8. 2026-06-09
   days on market $124,900 Active 46 DOM
9. 2026-06-08
   days on market $124,900 Active 45 DOM
10. 2026-06-07
    days on market $124,900 Active 44 DOM
11. 2026-06-03
    days on market $124,900 Active 40 DOM
12. 2026-06-02
    days on market $124,900 Active 39 DOM
13. 2026-06-01
    days on market $124,900 Active 38 DOM
14. 2026-05-31
    days on market $124,900 Active 37 DOM
15. 2026-05-30
    days on market $124,900 Active 36 DOM
16. 2026-05-11
    status Pending 509-char remark

    Show marketing remark (509 chars)

    Nice move-in ready 1996 Marlette manufactured home in a quiet park in Creswell. Only $655/mo space rent, noticeably lower than most other parks. This 3 Bedroom, 2 Bath home includes a primary with ensuite bath, and is nicely updated with newer laminate floors, stainless kitchen appliances, unique chalkboard cabinet faces, and a brand new heat pump and furnace installed last year. Includes carport and storage shed, and even has a nice fenced back yard. Come enjoy the peaceful lifestyle of this great park.

17. 2026-04-09
    listed $124,900 Active 509-char remark

    Show marketing remark (509 chars)

    Nice move-in ready 1996 Marlette manufactured home in a quiet park in Creswell. Only $655/mo space rent, noticeably lower than most other parks. This 3 Bedroom, 2 Bath home includes a primary with ensuite bath, and is nicely updated with newer laminate floors, stainless kitchen appliances, unique chalkboard cabinet faces, and a brand new heat pump and furnace installed last year. Includes carport and storage shed, and even has a nice fenced back yard. Come enjoy the peaceful lifestyle of this great park.

ⓘ 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: $836 · $70/mo
• Projected year-2 tax: $1,212 · $101/mo
• Expected delta: +$376/yr (+$31/mo · 45.0%)

ⓘ 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 ≥91°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 14 unhealthy d/yr today · 15 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,518
• − Mortgage interest: −$6,996
• − Property taxes: −$836
• − Insurance: −$624
• − Repairs & maintenance: −$1,641
• − Management: −$1,641
• − Depreciation: −$3,633
• Taxable income: $5,145
• Est. tax owed @ 24.0%: −$1,235
• After-tax cash flow: $5,654/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: Creswell SD 40
• NCES district ID: 4103690
• Math proficiency: 37% ▼ -6.00%
• Reading proficiency: 51% ▼ -5.00%
• Median HH income: $53,499
• Composite: 40.38/100
• National rank: #7748
• State rank: #78 of 183 in OR

Livability — Creswell

• Score: 76/100
• State rank: #80
• US rank: #3631

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Creswell, OR
• Population (ZIP): 10,384

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% Two or more races 8% Hispanic / Latino 3% Asian 1% Native American 1%
• Common ancestry: Italian 6% Portuguese 3% Lithuanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -127.51%
• Current HPI: 311.4445
• 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

2 events — show timeline

• 2026-05-11 Pending — RMLS
• 2026-04-09 Listed $124,900 RMLS

Property tax history

+2.6%/yr

Latest (2025): $836 · +33.1% YoY. Source: county tax records.