5055 NE ELLIOTT CIR #96 Plan · Corvallis, OR 97330

$149,900

2 bd · 1.0 ba · 784 sqft · Manufactured · 101 Days on market

Good condition $191/sqft · 46% above area Est $102k · 46% over ↓ 4% 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 +23.2/30.0
• DSCR +7.5/10.0
• 1% rule +6.0/10.0
• Schools +4.9/10.0
• Livability +4.1/5.0
• Condition / age +4.0/5.0
• Rent growth +3.9/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Brand new Palm Harbor home is move-in ready. Carport Awning coming soon. Energy-efficient certified home. 2-year monthly space rent incentive. Knoll Terrace MHC is an all-age manufactured home community with clubhouse and fitness center. Scenic views and mature trees throughout. Pet friendly community, no weight or breed restrictions. Complete package includes set-up & delivery, close-up, covered carport w/ concrete driveway, walkway, Cornerstone skirting, steps & wood rails, rain gutters, front landscaping and Tuff Shed w/ 5 year warranty. Contact us for more information. Financing available on approval.

Key facts

• Fitness center
• Clubhouse
• Scenic views

Tags

• ENERGY EFFICIENT
• PET FRIENDLY
• SCENIC VIEWS
• MATURE TREES
• CLUBHOUSE
• FITNESS CENTER

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $150k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $272 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $136k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 2.6% in Corvallis — 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 82/100 on livability (#45 in OR, #1,113 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: cost of living F.
• Corvallis SD 509J (urban): math 49% / reading 62% proficiency, ranked #15 of 183 in OR (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+5.7%/yr); 229 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 116 units permitted in Benton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Benton County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 5.7% rent growth), your $42k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.

Recommended offer $136,409 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.10% ✓
• Cap rate: 8.47%
• Cash-on-cash: 7.78%
• DSCR: 1.35
• GRM: 7.5

CMA / ARV

• ARV (median comp): $102,402
• List price: $149,900
• Delta: 46.38%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5055 NE Elliott Cir #200	0.19mi	2/1.0	784 (0%)	16mo	$85,000	$108	78
5055 NE Elliott Cir #151	0.19mi	1/1.0 (-1)	784 (0%)	10mo	$105,000	$134	78
5055 NE Elliott Cir #204	0.33mi	2/1.0	770 (-2%)	12mo	$190,000	$247	72
5055 NE Elliott Cir #158	0.19mi	2/1.0	875 (+12%)	7mo	$70,000	$80	66
5055 NE Elliott Cir #82	0.19mi	2/1.0	696 (-11%)	12mo	$64,500	$93	62

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 · 5.74% rent growth · sell at horizon

5-year hold

• IRR: -1.4%
• Equity multiple: 0.95×
• Total profit: $-2,254
• Equity at exit: $22,351

10-year hold

• IRR: 11.0%
• Equity multiple: 1.97×
• Total profit: $40,799
• Equity at exit: $12,961

Cash invested: $41,972 (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 97330

• Rents YoY: 5.7%
• Active inventory: 229
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,656 medium
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $272

Break-even live

Break-even rent $1,311

Max offer price $149,900

Occupancy floor 79%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3312 NE Lancaster St Unit 1 Corvallis, OR	2.0	1.0	750	$1,450	$1.93	43d	1	1.48mi

Listing history 18 events

1. 2026-06-19
   days on market $149,900 Active 101 DOM
2. 2026-06-18
   days on market $149,900 Active 100 DOM
3. 2026-06-17
   days on market $149,900 Active 99 DOM
4. 2026-06-16
   days on market $149,900 Active 98 DOM
5. 2026-06-15
   days on market $149,900 Active 97 DOM
6. 2026-06-14
   days on market $149,900 Active 95 DOM
7. 2026-06-10
   days on market $149,900 Active 92 DOM
8. 2026-06-09
   days on market $149,900 Active 91 DOM
9. 2026-06-08
   days on market $149,900 Active 90 DOM
10. 2026-06-07
    days on market $149,900 Active 89 DOM
11. 2026-06-05
    days on market $149,900 Active 86 DOM
12. 2026-06-03
    days on market $149,900 Active 85 DOM
13. 2026-06-02
    days on market $149,900 Active 84 DOM
14. 2026-06-01
    days on market $149,900 Active 83 DOM
15. 2026-05-31
    days on market $149,900 Active 82 DOM
16. 2026-05-30
    days on market $149,900 Active 81 DOM
17. 2026-03-14
    price $149,900 624-char remark

    Show marketing remark (624 chars)

    Brand new Palm Harbor home is move-in ready. Carport Awning coming soon. Energy-efficient certified home. 2-year monthly space rent incentive. Knoll Terrace MHC is an all-age manufactured home community with clubhouse and fitness center. Scenic views and mature trees throughout. Pet friendly community, no weight or breed restrictions. Complete package includes set-up & delivery, close-up, covered carport w/ concrete driveway, walkway, Cornerstone skirting, steps & wood rails, rain gutters, front landscaping and Tuff Shed w/ 5 year warranty. Contact us for more information. Financing available on approval.

18. 2026-03-11
    listed $156,500 Active 624-char remark

    Show marketing remark (624 chars)

    Brand new Palm Harbor home is move-in ready. Carport Awning coming soon. Energy-efficient certified home. 2-year monthly space rent incentive. Knoll Terrace MHC is an all-age manufactured home community with clubhouse and fitness center. Scenic views and mature trees throughout. Pet friendly community, no weight or breed restrictions. Complete package includes set-up & delivery, close-up, covered carport w/ concrete driveway, walkway, Cornerstone skirting, steps & wood rails, rain gutters, front landscaping and Tuff Shed w/ 5 year warranty. Contact us for more information. Financing available on approval.

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥92°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 12 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,867
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$1,589
• − Management: −$1,589
• − Depreciation: −$4,361
• Taxable income: $933
• Est. tax owed @ 24.0%: −$224
• After-tax cash flow: $3,040/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 None rehab

This move-in ready manufactured home is in excellent condition with a fresh kitchen and bathroom, new flooring, and well-maintained landscaping. Minor updates to the exterior and landscaping would further enhance its value.

Value-add opportunities

• Both Paint exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics.
• Both Install new outdoor lighting — Enhances safety and curb appeal.
• Both Add a small garden bed near the front door — Improves landscaping and adds curb appeal.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Install new outdoor lighting — Enhances safety and curb appeal. ↑
• Both Add a small garden bed near the front door — Improves landscaping and adds curb appeal. ↑

ⓘ 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: Corvallis SD 509J
• NCES district ID: 4103480
• Math proficiency: 49% ▼ -3.00%
• Reading proficiency: 62% ▼ -1.00%
• Median HH income: $44,820
• Composite: 48.62/100
• National rank: #4584
• State rank: #15 of 183 in OR

Livability — Corvallis

• Score: 82/100
• State rank: #45
• US rank: #1113

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Benton County · 98,484 people
• City population: 67,812
• Metro: Corvallis, OR
• Population (ZIP): 43,878
• Household income: $70,742
• Rent vs Own: 48.4% rent · 51.6% own
• Severe rent burden: 3416.0

Population outlook (Benton County) Hauer SSP2

• Today (2025): 96,963 people
• By 2030: 101,658 · +4.8%
• By 2040: 110,157 · +13.6%
• By 2050: 119,275 · +23.0%
• By 2075: 145,172 · +49.7%
• By 2100: 165,349 · +70.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 9% Asian 9% Two or more races 7% Black 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 4% Portuguese 4% Slovak 3%
• Foreign-born: 13% · Canada, China, South Korea
• Languages at home: 84% English-only · Spanish 6% Chinese 3% Korean 2%

Political lean MEDSL · Benton

• 2024 margin: Solid D (+39.6) · D 68.1% · R 28.5% · Other 3.5%
• 2008→2024 swing: +8.1pp toward D · 2008: 31.5pp · 2024: 39.6pp
• All cycles: 2024: D+39.6 2020: D+39.7 2016: D+33.8 2012: D+28.8 2008: D+31.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -420.12%
• Current HPI: 298.7746
• Rent YoY: ▲ 5.74%
• Metro: Corvallis, 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

-4.2% since first listed

2 events — show timeline

• 2026-03-14 Price Changed $149,900 Zillow
• 2026-03-11 Listed $156,500 Zillow