5335 Main #154 · Springfield, OR 97478

$25,000

2 bd · 1.0 ba · 728 sqft · Manufactured public records · 146 Days on market

Built 1995 $34/sqft · 36% below area Est $39k · 36% under ↓ 11% since listing

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Why this score? — see what drove the C- 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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.2/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 Bed, 1 Bath manufactured home in quiet 55+ park. Buyers must be approved by Park management prior to purchase. Recently floor updated in kitchen. All appliances (Including washer and dryer ) in As-Is condition, included with full-price offer.

Key facts

• Updated kitchen
• Garage
• Community pool

Tags

• UPDATED KITCHEN
• ALL APPLIANCES INCLUDED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $25k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $25k).
• Recommended offer: $22k (12.0% below list) — sets the bar for market timing.
• Cap rate 55.8% 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: schools D+, 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.
• Market conditions: Rents rising (+3.4%/yr); 263 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $173 of loan paydown is wiped out by about $750 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 + 3.4% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 146 days — a 12% lower offer ($22k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $22,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 146 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 6.03% ✓
• Cap rate: 55.82%
• Cash-on-cash: 176.88%
• DSCR: 8.87
• GRM: 1.4

CMA / ARV

• ARV (median comp): $39,018
• List price: $25,000
• Delta: -35.93%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5335 Main St #34	0.00mi	2/1.0	728 (0%)	0mo	$29,900	$41	100
205 S 54th St #108	0.16mi	2/1.0	728 (0%)	7mo	$60,000	$82	86
5335 Main St #187	0.00mi	2/1.0	784 (+8%)	2mo	$55,000	$70	86
5335 Main St #187	0.08mi	2/1.0	746 (+2%)	19mo	$60,000	$80	76
205 S 54th St #108	0.08mi	2/1.0	710 (-2%)	23mo	$60,900	$86	73
205 S 54th St	0.15mi	2/1.0	672 (-8%)	13mo	$31,400	$47	70
205 S 54th St #107	0.16mi	2/1.0	768 (+6%)	17mo	$11,500	$15	69
205 S 54th St #117	0.16mi	2/2.0	800 (+10%)	8mo	$9,000	$11	66
205 S 54th St #60	0.16mi	2/1.0	784 (+8%)	17mo	$22,500	$29	65
5335 Daisy St #58	0.28mi	2/1.0	784 (+8%)	14mo	$57,000	$73	62
5335 Daisy St #130	0.21mi	3/1.0 (+1)	672 (-8%)	12mo	$20,000	$30	62
658 S 57 Th st Space 67	0.33mi	2/1.0	830 (+14%)	18mo	$44,000	$53	46

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 · 3.38% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 9.89×
• Total profit: $62,256
• Equity at exit: $3,728

10-year hold

• IRR: —
• Equity multiple: 21.18×
• Total profit: $141,276
• Equity at exit: $2,162

Cash invested: $7,000 (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 97478

• Rents YoY: 3.4%
• Active inventory: 263
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $1,506 medium
• Mortgage (P&I): −$131
• Tax from tax record: −$17 /mo · $200/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $1,032

Break-even live

Break-even rent $200

Max offer price $25,000

Occupancy floor 26%

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4625 Main St Unit 8 Springfield, OR	2.0	1.0	650	$1,250	$1.92	13d	1	0.92mi

Listing history 16 events

1. 2026-06-18
   days on market $25,000 Active 146 DOM
2. 2026-06-17
   days on market $25,000 Active 145 DOM
3. 2026-06-16
   days on market $25,000 Active 144 DOM
4. 2026-06-15
   days on market $25,000 Active 143 DOM
5. 2026-06-14
   days on market $25,000 Active 141 DOM
6. 2026-06-10
   days on market $25,000 Active 138 DOM
7. 2026-06-09
   days on market $25,000 Active 137 DOM
8. 2026-06-08
   days on market $25,000 Active 136 DOM
9. 2026-06-07
   days on market $25,000 Active 135 DOM
10. 2026-06-03
    days on market $25,000 Active 131 DOM
11. 2026-06-02
    days on market $25,000 Active 130 DOM
12. 2026-06-01
    days on market $25,000 Active 129 DOM
13. 2026-05-31
    days on market $25,000 Active 128 DOM
14. 2026-05-30
    days on market $25,000 Active 127 DOM
15. 2026-03-13
    price $25,000 244-char remark

    Show marketing remark (244 chars)

    2 Bed, 1 Bath manufactured home in quiet 55+ park. Buyers must be approved by Park management prior to purchase. Recently floor updated in kitchen. All appliances (Including washer and dryer ) in As-Is condition, included with full-price offer.

16. 2026-01-22
    listed $28,000 Active 244-char remark

    Show marketing remark (244 chars)

    2 Bed, 1 Bath manufactured home in quiet 55+ park. Buyers must be approved by Park management prior to purchase. Recently floor updated in kitchen. All appliances (Including washer and dryer ) in As-Is condition, included with full-price offer.

ⓘ 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: $200 · $17/mo
• Projected year-2 tax: $242 · $20/mo
• Expected delta: +$43/yr (+$4/mo · 21.3%)

ⓘ 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 5/10 Major
• 🌡 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 13 unhealthy d/yr today · 15 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,075
• − Mortgage interest: −$1,400
• − Property taxes: −$200
• − Insurance: −$125
• − Repairs & maintenance: −$1,446
• − Management: −$1,446
• − Depreciation: −$727
• Taxable income: $12,731
• Est. tax owed @ 24.0%: −$3,055
• After-tax cash flow: $9,326/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: 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): 39,373
• Household income: $80,086
• Rent vs Own: 31.0% rent · 69.0% own
• Severe rent burden: 904.0

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 12% Two or more races 9% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Slovak 4% Lithuanian 3% Portuguese 3%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 5% Tagalog/Filipino 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: ▼ -395.83%
• Current HPI: 302.9203
• Rent YoY: ▲ 3.38%
• 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

-10.7% since first listed

2 events — show timeline

• 2026-03-13 Price Changed $25,000 RMLS
• 2026-01-22 Listed $28,000 RMLS

Property tax history

+4.9%/yr

Latest (2020): $200 · +10.1% YoY. Source: county tax records.