5055 NE ELLIOTT CIRCLE, #182 Plan · Corvallis, OR 97330

$229,500

4 bd · 2.0 ba · 1,512 sqft · Manufactured · 14 Days on market

Good condition Est $172k · 33% over

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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 +25.3/30.0
• DSCR +8.3/10.0
• 1% rule +6.6/10.0
• 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

FOR SALE IN A MANUFACTURED HOME COMMUNITY: Currently Under Construction, more information to follow. Photos are of similar home.

Key facts

• Listed 14 days

Property features AI

Finance

• Financial info: List price $229,500

Exterior

• Utilities: Electric service
• Home design: Single-family plan; Unit/plan labeled '#182'
• Exterior features: Address: 5055 NE Elliott Cir, Corvallis, OR 97330

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating
• Interior features: Plan home (new construction plan)

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $230k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $521 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $230k).
• Cap rate 9.0% 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.
• Zoned schools: Mt View Elementary School (232 students, 43% FRL); Cheldelin Middle School (570 students, 31% FRL); Crescent Valley High School (931 students, 19% FRL) — zoned schools at 31% FRL track the district average.
• Market conditions: Rents rising fast (+5.7%/yr); 231 active listings in the ZIP; 116 units permitted in Benton County in 2024 (0 in 5+ unit buildings).
• At $2,667/mo this rent would consume 45% of the median local household income ($71k/yr) (locally 3416% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 $64k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $229,500

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.16% ✓
• Cap rate: 9.02%
• Cash-on-cash: 9.73%
• DSCR: 1.43
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $172,368
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5055 NE Elliott Cir #35	0.19mi	3/2.0 (-1)	1,512 (0%)	6mo	$125,000	$83	81
5055 NE Elliott Cir #51	0.19mi	4/2.0	1,404 (-7%)	10mo	$160,000	$114	72
5055 NE Elliott Cir #30	0.19mi	3/2.0 (-1)	1,512 (0%)	19mo	$173,750	$115	70

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: 1.06×
• Total profit: $3,576
• Equity at exit: $34,219

10-year hold

• IRR: 13.6%
• Equity multiple: 2.23×
• Total profit: $78,780
• Equity at exit: $19,843

Cash invested: $64,260 (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: 231
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,667 medium
• Mortgage (P&I): −$1,204
• Tax est. 1.5%: −$287 /mo · $3,442/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$560
• Net cashflow: $521

Break-even live

Break-even rent $2,008

Max offer price $229,500

Occupancy floor 75%

Sensitivity live

Price	-10% $679	-5% $600	+0% $521	+5% $442	+10% $362
Rent	-10% $310	-5% $415	+0% $521	+5% $626	+10% $732
Rate	-1.0pp $636	-0.5pp $579	base $521	+0.5pp $461	+1.0pp $401

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: $57,375
• Closing costs: $6,885
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-21
   days on market $229,500 Active 14 DOM
2. 2026-06-19
   days on market $229,500 Active 12 DOM
3. 2026-06-18
   days on market $229,500 Active 11 DOM
4. 2026-06-17
   days on market $229,500 Active 10 DOM
5. 2026-06-16
   days on market $229,500 Active 9 DOM
6. 2026-06-15
   days on market $229,500 Active 8 DOM
7. 2026-06-14
   days on market $229,500 Active 6 DOM
8. 2026-06-10
   days on market $229,500 Active 3 DOM
9. 2026-06-09
   days on market $229,500 Active 2 DOM
10. 2026-06-08
    remarks 128-char remark
11. 2026-06-08
    listed $229,500 Active 1 DOM

ⓘ 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: $32,003
• − Mortgage interest: −$12,856
• − Property taxes: −$3,442
• − Insurance: −$1,148
• − Repairs & maintenance: −$2,560
• − Management: −$2,560
• − Depreciation: −$6,676
• Taxable income: $2,760
• Est. tax owed @ 24.0%: −$662
• After-tax cash flow: $5,587/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 manufactured home is in good condition with a modern kitchen and well-maintained exterior. It has potential for further value increases through minor cosmetic upgrades and landscaping improvements.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhances curb appeal and adds value to the property.
• Resale Upgrading the kitchen appliances — Modern appliances improve the home's appeal to potential buyers.
• Both Adding a smart home system — Enhances convenience and adds value to the property.
• Resale Upgrading the flooring in the bathrooms — High-quality flooring in bathrooms improves the home's appeal to potential buyers.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhances curb appeal and adds value to the property. ↑
• Resale Upgrading the kitchen appliances — Modern appliances improve the home's appeal to potential buyers. ↑
• Both Adding a smart home system — Enhances convenience and adds value to the property. ↑
• Resale Upgrading the flooring in the bathrooms — High-quality flooring in bathrooms improves the home's appeal to potential buyers. ↑

ⓘ 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