5055 Elliott Cir #198 · Corvallis, OR 97330

$144,900

2 bd · 1.0 ba · 750 sqft · Manufactured · 278 Days on market

Built 2024 Est $100k · 44% 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 +24.7/30.0
• DSCR +8.0/10.0
• 1% rule +6.4/10.0
• Schools +4.9/10.0
• Livability +4.1/5.0
• Rent growth +3.9/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

FOR SALE IN A MANUFACTURED HOME COMMUNITY: NEW HOME IS MOVE-IN READY! 2-YEAR SPACE RENT DISCOUNT. Located in a beautiful all-age community, with scenic views and mature trees throughout. Pet friendly with clubhouse and fitness center in semi-rural N. Corvallis. Nearby OSU, Hospital, Restaurants and Shopping. Financing is available.

Key facts

• Built 2024
• Listed 277 days

Property features AI

Finance

• Other: Listing status: Active
• Financial info: List price $144,900

Exterior

• Home design: Spec home; Address: 5055 Elliott Cir #198, Corvallis, OR 97330
• Exterior features: Living area approximately 750

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric forced-air heating
• Interior features: Refrigerator; Microwave

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $145k.

Deal economics

• At list price, monthly cash flow is $302 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $128k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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); 230 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 $41k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 278 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.

Recommended offer $127,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 278 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 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: 1.14% ✓
• Cap rate: 8.79%
• Cash-on-cash: 8.93%
• DSCR: 1.40
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $100,500
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5055 NE Elliott Cir #204	0.00mi	2/1.0	770 (+3%)	12mo	$190,000	$247	86
5055 NE Elliott Cir #200	0.15mi	2/1.0	784 (+4%)	16mo	$85,000	$108	72
5055 NE Elliott Cir #151	0.15mi	1/1.0 (-1)	784 (+4%)	10mo	$105,000	$134	72
5055 NE Elliott Cir #82	0.15mi	2/1.0	696 (-7%)	12mo	$64,500	$93	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: 0.3%
• Equity multiple: 1.01×
• Total profit: $443
• Equity at exit: $21,605

10-year hold

• IRR: 12.6%
• Equity multiple: 2.12×
• Total profit: $45,526
• Equity at exit: $12,528

Cash invested: $40,572 (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: 230
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,650 medium
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,174/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $302

Break-even live

Break-even rent $1,268

Max offer price $144,900

Occupancy floor 77%

Sensitivity live

Price	-10% $402	-5% $352	+0% $302	+5% $252	+10% $202
Rent	-10% $172	-5% $237	+0% $302	+5% $367	+10% $432
Rate	-1.0pp $375	-0.5pp $339	base $302	+0.5pp $264	+1.0pp $226

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: $36,225
• Closing costs: $4,347
• 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	45d	1	1.34mi

Listing history 11 events

1. 2026-06-21
   days on market $144,900 Active 278 DOM
2. 2026-06-19
   days on market $144,900 Active 276 DOM
3. 2026-06-18
   days on market $144,900 Active 275 DOM
4. 2026-06-17
   days on market $144,900 Active 274 DOM
5. 2026-06-16
   days on market $144,900 Active 273 DOM
6. 2026-06-15
   days on market $144,900 Active 272 DOM
7. 2026-06-14
   days on market $144,900 Active 270 DOM
8. 2026-06-10
   days on market $144,900 Active 267 DOM
9. 2026-06-09
   days on market $144,900 Active 266 DOM
10. 2026-06-08
    remarks 333-char remark
11. 2026-06-08
    listed $144,900 Active 265 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 · 15 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: $19,796
• − Mortgage interest: −$8,117
• − Property taxes: −$2,174
• − Insurance: −$724
• − Repairs & maintenance: −$1,584
• − Management: −$1,584
• − Depreciation: −$4,215
• Taxable income: $1,399
• Est. tax owed @ 24.0%: −$336
• After-tax cash flow: $3,287/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: 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