1120 W Fairview Dr #48 · Springfield, OR 97477

$45,000

2 bd · 1.0 ba · 552 sqft · Manufactured · 21 Days on market

Built 1973 Good condition Est $40k · 12% over

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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
• Livability +4.2/5.0
• Condition / age +4.0/5.0
• Rent growth +3.7/5.0
• Schools +2.4/10.0
• ARV discount +2.2/15.0
• Appreciation +0.0/10.0

Listing remarks

Affordable, updated, and move-in ready! This remodeled 1973 manufactured home offers 552 sq. ft. of comfortable living space in an affordable park. Modern updates throughout make this home feel bright, clean, and welcoming. Great opportunity for affordable homeownership.

Key facts

• Built 1973
• Listed 21 days

Property features AI

Finance

• Other: No land included in sale; Property type: Residential (manufactured home in park)
• HOA & community: Located in Fairview MHC (mobile home park); Not a senior community; Zoning: R-1; Monthly lot rent of $600

Exterior

• Parking: Covered parking
• Utilities: Electric fuel; Public water; Public sewer; Cable internet
• Home design: Manufactured home in a park; Single-story; Resale condition; No view
• Construction: Built in 1973; Manufacturer: SKYLINE
• Exterior features: Aluminum exterior; Metal roof

Interior

• Kitchen: Free‑standing range
• Bedrooms: Primary bedroom (main level); Second bedroom (main level)
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Aluminum and vinyl window frames; Family room; Dining room; Living room; Great room
• Laundry & utility: Electric hot water

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $45k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $843 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $44k (1.5% below list) — sets the bar for market timing.
• Cap rate 28.8% vs local median 3.0% in Springfield — 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 83/100 on livability (#40 in OR, #934 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime D+, employment D+.
• Springfield SD 19 (suburban): math 19% / reading 38% proficiency, ranked #48 of 58 in OR (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Centennial Elementary School (math 34% / reading 24%, grade F, #263 of 412 statewide, top 68%, 342 students, 88% FRL); Hamlin Middle School (math 15% / reading 35%, grade F, #104 of 128 statewide, top 83%, 571 students, 64% FRL); Springfield High School (math 30% / reading 54%, grade F, #64 of 143 statewide, top 46%, 1,317 students, 65% FRL) — zoned schools average 72% FRL vs 57% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.8%/yr); 163 active listings in the ZIP; 18 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k 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 + 4.8% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($44k) is reasonable based on typical stale-listing flexibility.

Recommended offer $44,325 (1.5% below list)

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
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: 3.25% ✓
• Cap rate: 28.77%
• Cash-on-cash: 80.27%
• DSCR: 4.57
• GRM: 2.6

CMA / ARV

• ARV (on-the-fly): $40,296
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1120 W Fairview Dr #8	0.00mi	2/1.0	588 (+6%)	21mo	$43,000	$73	72
2150 Laura St #83	0.57mi	2/1.0	616 (+12%)	0mo	$25,000	$41	54

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 · 4.81% rent growth · sell at horizon

5-year hold

• IRR: 82.5%
• Equity multiple: 4.90×
• Total profit: $49,115
• Equity at exit: $6,710

10-year hold

• IRR: 86.3%
• Equity multiple: 10.80×
• Total profit: $123,506
• Equity at exit: $3,891

Cash invested: $12,600 (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 97477

• Rents YoY: 4.8%
• Active inventory: 163
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,460 high
• Mortgage (P&I): −$236
• Tax est. 1.5%: −$56 /mo · $675/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $843

Break-even live

Break-even rent $394

Max offer price $45,000

Occupancy floor 37%

Sensitivity live

Price	-10% $874	-5% $858	+0% $843	+5% $827	+10% $812
Rent	-10% $727	-5% $785	+0% $843	+5% $900	+10% $958
Rate	-1.0pp $865	-0.5pp $854	base $843	+0.5pp $831	+1.0pp $819

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
506 W Centennial Blvd Springfield, OR	1.0–3.0	1.0–2.0	1182	$1,684	$1.42	22d	3	0.33mi
275 S Garden Way Eugene, OR	1.0	1.0	467	$1,479	$3.17	14d	22	0.62mi
2555 Gateway St Springfield, OR	2.0	1.0	682	$1,649	$2.42	22d	14	0.67mi
460 Lindale Dr Springfield, OR	1.0–2.0	1.0	770	$1,839	$2.39	14d	9	0.71mi
243 R St Springfield, OR	1.0–3.0	1.0–2.5	867	$1,649	$1.90	45d	6	0.89mi
844 Mill St Springfield, OR	1.0	1.0	600	$1,095	$1.82	45d	1	0.91mi
844 Mill St Springfield, OR	2.0	1.0	700	$1,295	$1.85	22d	1	0.91mi
844 Mill St Springfield, OR	1.0	1.0	600	$1,095	$1.82	45d	1	0.91mi
650 Mill St Unit 18 Springfield, OR	2.0	1.0	700	$1,095	$1.56	45d	1	1.00mi
3225 Kinsrow Ave Eugene, OR	1.0–4.0	1.0–2.5	1009	$1,613	$1.60	22d	10	1.05mi
3033 Gateway St Springfield, OR	1.0–2.0	1.0	750	$1,700	$2.27	14d	15	1.06mi
1725 N 5th St Unit P-070 Springfield, OR	1.0	1.0	580	$1,395	$2.41	45d	1	1.12mi
243 F St Unit 20 Springfield, OR	2.0	1.0	720	$1,095	$1.52	22d	1	1.14mi
1725 5th St Springfield, OR	1.0–2.0	1.0	705	$1,495	$2.12	14d	9	1.19mi
608 4th St Unit 1 Springfield, OR	1.0	1.0	448	$1,499	$3.35	22d	1	1.22mi
3255 Gateway St Springfield, OR	2.0	1.0	640	$1,535	$2.40	14d	1	1.26mi
745 6th St Springfield, OR	1.0	1.0	710	$1,295	$1.82	22d	1	1.29mi
406 4th St Unit 04 Springfield, OR	1.0	1.0	463	$950	$2.05	45d	1	1.30mi

Listing history 15 events

1. 2026-06-18
   days on market $45,000 Active 21 DOM
2. 2026-06-17
   days on market $45,000 Active 20 DOM
3. 2026-06-16
   days on market $45,000 Active 19 DOM
4. 2026-06-15
   days on market $45,000 Active 18 DOM
5. 2026-06-14
   days on market $45,000 Active 16 DOM
6. 2026-06-10
   days on market $45,000 Active 13 DOM
7. 2026-06-09
   days on market $45,000 Active 12 DOM
8. 2026-06-08
   days on market $45,000 Active 11 DOM
9. 2026-06-07
   days on market $45,000 Active 10 DOM
10. 2026-06-03
    days on market $45,000 Active 6 DOM
11. 2026-06-02
    days on market $45,000 Active 5 DOM
12. 2026-06-01
    days on market $45,000 Active 4 DOM
13. 2026-05-31
    days on market $45,000 Active 3 DOM
14. 2026-05-30
    days on market $45,000 Active 2 DOM
15. 2026-05-27
    listed $45,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 2/10 Low FEMA zone X (unshaded) · 5% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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 15 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,526
• − Mortgage interest: −$2,521
• − Property taxes: −$675
• − Insurance: −$225
• − Repairs & maintenance: −$1,402
• − Management: −$1,402
• − Depreciation: −$1,309
• Taxable income: $9,992
• Est. tax owed @ 24.0%: −$2,398
• After-tax cash flow: $7,715/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This remodeled 1973 manufactured home offers 552 sq. ft. of comfortable living space with modern updates and move-in ready condition.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value
• Resale upgraded appliances — attracts more buyers
• Both smart home features — increases appeal and marketability

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — enhances curb appeal and adds value ↑
• Resale upgraded appliances — attracts more buyers ↑
• Both smart home features — increases appeal and marketability ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Springfield SD 19
• NCES district ID: 4111670
• Math proficiency: 19% ▼ -13.00%
• Reading proficiency: 38% ▼ -10.00%
• Median HH income: $42,236
• Composite: 24.14/100
• National rank: #7746
• State rank: #48 of 58 in OR

Livability — Springfield

• Score: 83/100
• State rank: #40
• US rank: #934

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Springfield, OR
• County: Lane County · 310,476 people
• City population: 76,907
• Metro: Eugene-Springfield, OR
• Population (ZIP): 37,534
• Household income: $65,662
• Rent vs Own: 47.2% rent · 52.8% own
• Severe rent burden: 1817.0

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 (77%)
• Race & ethnicity: White 77% Hispanic / Latino 13% Two or more races 10% Asian 1% Native American 1%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Lithuanian 4% Portuguese 4% Italian 3%
• Foreign-born: 6% · Canada
• Languages at home: 89% English-only · Spanish 9% 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: ▼ -489.08%
• Current HPI: 299.6863
• Rent YoY: ▲ 4.81%
• 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

1 event — show timeline

• 2026-05-27 Listed $45,000 RMLS