89510 Highway 101 #26 · Heceta Beach, OR 97439

$60,000

2 bd · 1.0 ba · 784 sqft · Manufactured public records · 257 Days on market

Built 1976 $77/sqft · 68% below area $640/mo HOA · 39% of rent

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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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Looking for simplicity in a home? Just outside the city limits; this 784 SqFt, manufactured home has many improvements and upgrades, including a new electric panel (Jan-2026). 2 bedrooms and 1 bathroom with custom tile counter, new commode, and walk-in shower. Mostly laminate flooring throughout for ease of cleaning. Kitchen includes dishwasher, range, washer/dryer, but needs a refrigerator. New paint inside; and new light fixtures. Vinyl double-pane windows. Newer carport with attached and locked storage building. Pleasant location with access to Buck Lake for boating and fishing. Park-like setting with picnic and bench seating and bar-b-que by the lake. 55+ park. Monthly fee includes: public water, sewer, and garbage pick-up. Park 'approval' required.

Key facts

• Laminate flooring
• Newer carport
• All appliances

Tags

• LAMINATE FLOORING
• ALL APPLIANCES
• NEW LIGHT FIXTURES
• VINYL DOUBLE-PANE WINDOWS
• NEWER CARPORT
• ATTACHED STORAGE BUILDING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $60k.

Deal economics

• At list price, monthly cash flow is $247 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.2% vs local median 1.9% in Heceta Beach — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Siuslaw SD 97J (town): math 33% / reading 50% proficiency, ranked #106 of 183 in OR (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 406 active listings in the ZIP; 1,808 units permitted in Lane County in 2024 (972 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($415 loan paydown + $6k appreciation (10.0% local appreciation)).
• Lane County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 257 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: HOA is 39% of rent.

Recommended offer $52,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 257 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
9. 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.
10. 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.
11. 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: 2.75% ✓
• Cap rate: 11.24%
• Cash-on-cash: 17.65%
• DSCR: 1.79
• GRM: 3.0

CMA / ARV

• ARV (median comp): $187,657
• List price: $60,000
• Delta: -68.03%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
89510 Highway 101 #15	0.00mi	2/1.0	784 (0%)	17mo	$130,000	$166	86

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 37.6%
• Equity multiple: 3.91×
• Total profit: $48,838
• Equity at exit: $54,053

10-year hold

• IRR: 32.6%
• Equity multiple: 8.87×
• Total profit: $132,271
• Equity at exit: $116,567

Cash invested: $16,800 (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 97439

• Home prices YoY: 2.5%
• Active inventory: 406
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,648 medium
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• HOA: −$640
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $247

Break-even live

Break-even rent $1,335

Max offer price $60,000

Occupancy floor 80%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $640 · $7,680/yr
• Likely covers: watersewertrashelectric

Listing history 17 events

1. 2026-06-18
   days on market $60,000 Active 257 DOM
2. 2026-06-17
   days on market $60,000 Active 256 DOM
3. 2026-06-16
   days on market $60,000 Active 255 DOM
4. 2026-06-15
   days on market $60,000 Active 254 DOM
5. 2026-06-13
   days on market $60,000 Active 252 DOM
6. 2026-06-12
   days on market $60,000 Active 251 DOM
7. 2026-06-09
   days on market $60,000 Active 248 DOM
8. 2026-06-08
   days on market $60,000 Active 247 DOM
9. 2026-06-08
   days on market $60,000 Active 246 DOM
10. 2026-06-07
    days on market $60,000 Active 245 DOM
11. 2026-06-04
    days on market $60,000 Active 242 DOM
12. 2026-06-02
    days on market $60,000 Active 241 DOM
13. 2026-06-01
    days on market $60,000 Active 240 DOM
14. 2026-05-31
    days on market $60,000 Active 239 DOM
15. 2026-03-04
    status Active 763-char remark

    Show marketing remark (763 chars)

    Looking for simplicity in a home? Just outside the city limits; this 784 SqFt, manufactured home has many improvements and upgrades, including a new electric panel (Jan-2026). 2 bedrooms and 1 bathroom with custom tile counter, new commode, and walk-in shower. Mostly laminate flooring throughout for ease of cleaning. Kitchen includes dishwasher, range, washer/dryer, but needs a refrigerator. New paint inside; and new light fixtures. Vinyl double-pane windows. Newer carport with attached and locked storage building. Pleasant location with access to Buck Lake for boating and fishing. Park-like setting with picnic and bench seating and bar-b-que by the lake. 55+ park. Monthly fee includes: public water, sewer, and garbage pick-up. Park 'approval' required.

16. 2026-02-24
    status Pending 763-char remark

    Show marketing remark (763 chars)

    Looking for simplicity in a home? Just outside the city limits; this 784 SqFt, manufactured home has many improvements and upgrades, including a new electric panel (Jan-2026). 2 bedrooms and 1 bathroom with custom tile counter, new commode, and walk-in shower. Mostly laminate flooring throughout for ease of cleaning. Kitchen includes dishwasher, range, washer/dryer, but needs a refrigerator. New paint inside; and new light fixtures. Vinyl double-pane windows. Newer carport with attached and locked storage building. Pleasant location with access to Buck Lake for boating and fishing. Park-like setting with picnic and bench seating and bar-b-que by the lake. 55+ park. Monthly fee includes: public water, sewer, and garbage pick-up. Park 'approval' required.

17. 2025-09-26
    listed $60,000 Active 763-char remark

    Show marketing remark (763 chars)

    Looking for simplicity in a home? Just outside the city limits; this 784 SqFt, manufactured home has many improvements and upgrades, including a new electric panel (Jan-2026). 2 bedrooms and 1 bathroom with custom tile counter, new commode, and walk-in shower. Mostly laminate flooring throughout for ease of cleaning. Kitchen includes dishwasher, range, washer/dryer, but needs a refrigerator. New paint inside; and new light fixtures. Vinyl double-pane windows. Newer carport with attached and locked storage building. Pleasant location with access to Buck Lake for boating and fishing. Park-like setting with picnic and bench seating and bar-b-que by the lake. 55+ park. Monthly fee includes: public water, sewer, and garbage pick-up. Park 'approval' required.

ⓘ 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 2/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥81°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 8 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,774
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$300
• − Repairs & maintenance: −$1,582
• − Management: −$1,582
• − HOA: −$7,680
• − Depreciation: −$1,745
• Taxable income: $2,624
• Est. tax owed @ 24.0%: −$630
• After-tax cash flow: $2,336/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: Siuslaw SD 97J
• NCES district ID: 4105100
• Math proficiency: 33% ▼ -3.00%
• Reading proficiency: 50% ▼ -2.00%
• Median HH income: $36,892
• Composite: 36.82/100
• National rank: #9169
• State rank: #106 of 183 in OR

Livability — Heceta Beach

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 15,643

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% Hispanic / Latino 5% Two or more races 5% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 4% Portuguese 3% Slovak 3%
• Foreign-born: 5% · Canada, China
• Languages at home: 96% English-only · Spanish 1% German/W. Germanic 1% 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: ▲ 17.79%
• Current HPI: 717.84
• 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

3 events — show timeline

• 2026-03-04 Relisted — RMLS
• 2026-02-24 Pending — RMLS
• 2025-09-26 Listed $60,000 RMLS

Property tax history

-39.4%/yr

Latest (2015): $6 · +0.0% YoY. Source: county tax records.