91213 N Harrison St

Coburg, OR 97408

$415,000D

4 bd · 1.0 ba · 1,309 sqft · Built 1910 · SingleFamily · Active · 237 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,948/mo
• Mortgage (P&I): −$2,176
• Tax + insurance: −$376
• HOA: −$0
• Vac / Maint / Mgmt: −$619
• Net cashflow: $-224/mo
• Annual: $-2,686/yr
• Cap rate: 5.65%
• Cash-on-cash: -2.31%
• DSCR: 0.90
• 1% rule: 0.71%
• Cash to close: $116,200

Investor read

• This is a 4-bed/1.0-bath single-family listed at $415k.
• At list price, monthly cash flow is $-224 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $375k (9.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $295k (29.0% below list).
• It's been on market 237 days — a 12% lower offer ($365k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $295k (29.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#210 in OR) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A-, housing B; Watch: employment C-, cost of living D+, amenities F.
• Eugene SD 4J (urban): math 45% / reading 55% proficiency, ranked #10 of 58 in OR (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Gilham Elementary School (math 54% / reading 54%, grade C, #79 of 412 statewide, top 21%, 584 students, 36% FRL); Cal Young Middle School (math 32% / reading 52%, grade D-, #38 of 128 statewide, top 31%, 494 students, 48% FRL); Sheldon High School (math 70% / reading 70%, grade B, #14 of 143 statewide, top 10%, 1,525 students, 37% FRL) — zoned schools at 40% FRL track the district average.
• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+4.0%/yr); 106 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,808 units permitted in Lane County in 2024 (972 in 5+ unit buildings).
• Lane County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts; this cycle's ask is 16507% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $145k; list at $415k implies a 186% gain — meaningful room to come down on a strong offer.
• This rent runs 34% of the median local income ($105k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• It's been on market 237 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
• Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.