1800 Lakewood Ct #161 · Eugene, OR 97402

$87,700

2 bd · 2.0 ba · 1,188 sqft · Manufactured public records · 85 Days on market

Built 1989 $74/sqft · 35% below area Est $133k · 34% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to the community! Located on the newer side of Lakewood Vista, this 2-bed, 2-bath home with 1180 sqft is dialed in and ready for you to pick an interior paint color. New heat pump in 2025 provides for year-round comfort (Lennox with 10-year warranty). New in 2022, roof, water heater, luxury vinyl plank flooring, triple-pane windows and plumbing. The newly landscaped private back yard with deck is perfect for entertaining and bbq's. Rent includes cable, water and trash. Park amenities include an indoor pool, gym, library, great management, meeting room, pool tables and regular events that bring the community together. Pet restriction: under 35 lbs.

Key facts

• Community pool
• Built 1989
• Listed 85 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $88k.

Deal economics

• At list price, monthly cash flow is $885 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $88k).
• Recommended offer: $82k (6.0% below list) — sets the bar for market timing.
• Cap rate 18.4% vs local median 2.8% in Eugene — 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 81/100 on livability (#52 in OR, #1,587 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment C-, cost of living C-, crime D-.
• Bethel SD 52 (urban): math 18% / reading 34% proficiency, ranked #52 of 58 in OR (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+1.6%/yr); 297 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 1,808 units permitted in Lane County in 2024 (972 in 5+ unit buildings).
• This rent runs 38% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $606 of loan paydown is wiped out by about $3k 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 + 1.6% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago 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.
• Current owner paid $76k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $82,438 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% 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 B-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. 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: 2.10% ✓
• Cap rate: 18.40%
• Cash-on-cash: 43.23%
• DSCR: 2.92
• GRM: 4.0

CMA / ARV

• ARV (median comp): $133,123
• List price: $87,700
• Delta: -34.12%
• Verdict: UNDERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1800 Lakewood Ct #74	0.00mi	2/2.0	1,200 (+1%)	15mo	$6,000	$5	86
1800 Lakewood Ct #12	0.00mi	2/2.0	1,176 (-1%)	20mo	$22,400	$19	82
1800 Lakewood Ct #63	0.00mi	3/2.0 (+1)	1,248 (+5%)	10mo	$134,000	$107	78
3454 Pattison St	0.22mi	3/2.0 (+1)	1,188 (0%)	8mo	$300,000	$253	78
1800 Lakewood Ct #134	0.00mi	2/2.0	1,344 (+13%)	1mo	$78,900	$59	77
1800 Lakewood Ct #33	0.00mi	2/2.0	1,100 (-7%)	14mo	$23,000	$21	76
1800 Lakewood Ct #133	0.00mi	2/2.0	1,272 (+7%)	15mo	$67,500	$53	76
1800 Lakewood Ct #122	0.00mi	2/2.0	1,080 (-9%)	11mo	$37,000	$34	76
1800 Lakewood Ct #15	0.00mi	3/2.0 (+1)	1,120 (-6%)	12mo	$40,000	$36	75
1202 N Park Ave	0.50mi	3/2.0 (+1)	1,190 (+0%)	5mo	$108,000	$91	67
1800 Lakewood Ct #5	0.00mi	2/2.0	1,320 (+11%)	17mo	$13,000	$10	67
1800 Lakewood Ct #155	0.00mi	3/2.0 (+1)	1,350 (+14%)	15mo	$46,500	$34	60

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 · 1.58% rent growth · sell at horizon

5-year hold

• IRR: 38.5%
• Equity multiple: 2.61×
• Total profit: $39,539
• Equity at exit: $13,076

10-year hold

• IRR: 44.3%
• Equity multiple: 4.94×
• Total profit: $96,658
• Equity at exit: $7,583

Cash invested: $24,556 (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 97402

• Rents YoY: 1.6%
• Active inventory: 297
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,840 high
• Mortgage (P&I): −$460
• Tax from tax record: −$72 /mo · $867/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$386
• Net cashflow: $885

Break-even live

Break-even rent $720

Max offer price $87,700

Occupancy floor 47%

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: $21,925
• Closing costs: $2,631
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1920 Taft St Eugene, OR	3.0	1.5	966	$1,850	$1.92	13d	1	0.21mi
1246 Hughes St Eugene, OR	3.0	2.0	1200	$2,300	$1.92	13d	1	0.33mi
3700 Riviera Eugene, OR	2.0	2.0	968	$1,662	$1.72	13d	2	0.36mi
1190 Taft St Unit 1190 Eugene, OR	3.0	1.0	1116	$1,650	$1.48	21d	1	0.42mi
3400 Hawthorne Ave Eugene, OR	1.0–3.0	1.0	730	$1,543	$2.11	13d	1	0.59mi
1071 Fairfield Ave Eugene, OR	1.0–2.0	1.0–2.0	872	$1,605	$1.84	13d	1	0.62mi
1161 N Park Ave Eugene, OR	3.0	1.0	900	$2,295	$2.55	21d	1	0.62mi
4175 Quest Dr Eugene, OR	1.0–3.0	1.0–2.0	983	$1,710	$1.74	13d	6	0.66mi
4075 Aerial Way Eugene, OR	1.0–2.0	1.0–2.0	847	$2,155	$2.54	13d	24	0.68mi
925 Hatton Ave Eugene, OR	2.0	1.0	813	$934	$1.15	43d	1	0.68mi
3358 Richard Ave Eugene, OR	3.0	1.0	1164	$1,995	$1.71	43d	1	0.73mi
4175 Wagner St Eugene, OR	1.0–2.0	1.0	743	$1,645	$2.21	13d	1	0.78mi
910 Westsprings Dr Eugene, OR	2.0	2.0	990	$1,699	$1.72	13d	1	0.79mi
1642 Zoe Ave Eugene, OR	3.0	2.5	1395	$2,695	$1.93	21d	1	0.80mi
311 Alva Park Dr Eugene, OR	2.0	1.0	750	$1,895	$2.53	21d	1	1.05mi
128 Chase St Eugene, OR	2.0	1.5	1378	$1,895	$1.38	43d	1	1.18mi
2106 Golden Gardens St Eugene, OR	3.0	1.0	1410	$1,995	$1.41	43d	1	1.22mi
543 Hanover St Eugene, OR	2.0	1.0	710	$1,725	$2.43	13d	1	1.25mi
573 Hanover St Eugene, OR	2.0	1.0	775	$1,495	$1.93	43d	1	1.25mi
394 Rosewood Ave Eugene, OR	2.0	2.0	850	$1,895	$2.23	13d	1	1.27mi
4478 Fergus Ave Eugene, OR	3.0	1.5	1120	$1,695	$1.51	43d	1	1.34mi
1040 Lamplite Ln Eugene, OR	3.0	1.0	912	$1,895	$2.08	43d	1	1.34mi

Listing history 18 events

1. 2026-06-18
   days on market $87,700 Active 85 DOM
2. 2026-06-17
   days on market $87,700 Active 84 DOM
3. 2026-06-16
   days on market $87,700 Active 83 DOM
4. 2026-06-15
   days on market $87,700 Active 82 DOM
5. 2026-06-14
   days on market $87,700 Active 80 DOM
6. 2026-06-10
   days on market $87,700 Active 77 DOM
7. 2026-06-09
   days on market $87,700 Active 76 DOM
8. 2026-06-08
   days on market $87,700 Active 75 DOM
9. 2026-06-07
   days on market $87,700 Active 74 DOM
10. 2026-06-03
    days on market $87,700 Active 70 DOM
11. 2026-06-02
    days on market $87,700 Active 69 DOM
12. 2026-06-01
    days on market $87,700 Active 68 DOM
13. 2026-05-31
    days on market $87,700 Active 67 DOM
14. 2026-05-30
    days on market $87,700 Active 66 DOM
15. 2026-03-25
    listed $87,700 Active 663-char remark

    Show marketing remark (663 chars)

    Welcome to the community! Located on the newer side of Lakewood Vista, this 2-bed, 2-bath home with 1180 sqft is dialed in and ready for you to pick an interior paint color. New heat pump in 2025 provides for year-round comfort (Lennox with 10-year warranty). New in 2022, roof, water heater, luxury vinyl plank flooring, triple-pane windows and plumbing. The newly landscaped private back yard with deck is perfect for entertaining and bbq's. Rent includes cable, water and trash. Park amenities include an indoor pool, gym, library, great management, meeting room, pool tables and regular events that bring the community together. Pet restriction: under 35 lbs.

16. 2022-09-21
    soldstatus $75,500 Closed 324-char remark

    Show marketing remark (324 chars)

    Move-in ready, bright and spacious home in the wonderful Lakewood Vista 55+ community! This home offers new vinyl plank flooring, new triple pane windows, new roof, new range and hood, new plumbing under the home, and more! New clubhouse amenities construction underway! Space rent is $995/month plus $34/month cable charge.

17. 2022-09-02
    status Pending 324-char remark

    Show marketing remark (324 chars)

    Move-in ready, bright and spacious home in the wonderful Lakewood Vista 55+ community! This home offers new vinyl plank flooring, new triple pane windows, new roof, new range and hood, new plumbing under the home, and more! New clubhouse amenities construction underway! Space rent is $995/month plus $34/month cable charge.

18. 2022-08-25
    listed $78,000 Active 324-char remark

    Show marketing remark (324 chars)

    Move-in ready, bright and spacious home in the wonderful Lakewood Vista 55+ community! This home offers new vinyl plank flooring, new triple pane windows, new roof, new range and hood, new plumbing under the home, and more! New clubhouse amenities construction underway! Space rent is $995/month plus $34/month cable charge.

ⓘ 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: $867 · $72/mo
• Projected year-2 tax: $867 · $72/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥92°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 13 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,074
• − Mortgage interest: −$4,913
• − Property taxes: −$867
• − Insurance: −$438
• − Repairs & maintenance: −$1,766
• − Management: −$1,766
• − Depreciation: −$2,551
• Taxable income: $9,773
• Est. tax owed @ 24.0%: −$2,346
• After-tax cash flow: $8,269/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: Bethel SD 52
• NCES district ID: 4102040
• Math proficiency: 18% ▼ -14.00%
• Reading proficiency: 34% ▼ -14.00%
• Median HH income: $47,860
• Composite: 22.62/100
• National rank: #8066
• State rank: #52 of 58 in OR

Livability — Eugene

• Score: 81/100
• State rank: #52
• US rank: #1587

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eugene, OR
• County: Lane County · 310,476 people
• City population: 215,212
• Metro: Eugene-Springfield, OR
• Population (ZIP): 53,823
• Household income: $57,658
• Rent vs Own: 49.3% rent · 50.7% own
• Severe rent burden: 3142.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 17% Two or more races 11% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Italian 4% Lithuanian 3% Portuguese 3%
• Foreign-born: 7% · Canada, China, Vietnam
• Languages at home: 88% English-only · Spanish 9% Other Indo-European 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: ▼ -437.20%
• Current HPI: 298.1167
• Rent YoY: ▲ 1.58%
• 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

+12.4% since first listed

4 events — show timeline

• 2026-03-25 Listed $87,700 RMLS
• 2022-09-21 Sold (MLS) $75,500 RMLS
• 2022-09-02 Pending — RMLS
• 2022-08-25 Listed $78,000 RMLS

Property tax history

+1.1%/yr

Latest (2025): $867 · +2.6% YoY. Source: county tax records.