5055 NE ELLIOTT CIR, S27564 Plan · Corvallis, OR 97330

$219,900

4 bd · 2.0 ba · 1,512 sqft · Manufactured · 863 Days on market

Poor condition $145/sqft · 80% above area

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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 +26.6/30.0
• DSCR +9.1/10.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• Schools +4.9/10.0
• Livability +4.1/5.0
• Rent growth +3.9/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Brand new manufactured homes for sale in Knoll Terrace, an all-age community. Move-in ready homes and buildable floorplans. Complete package includes set-up & delivery, covered carport w/ concrete driveway, walkway, painted skirting, steps & wood rails, composite treads, rain gutters, front landscaping and Tuff shed. New kitchen appliances. Pet friendly, no breed or weight restrictions. Premier manufactured home community located in the heart of the Willamette Valley. Monthly space rent incentives and financing available on approval.

Key facts

• Listed 863 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $220k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $587 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $220k).
• Recommended offer: $194k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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; 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 $62k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 863 days — a 12% lower offer ($194k) is reasonable based on typical stale-listing flexibility.

Recommended offer $193,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 863 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.21% ✓
• Cap rate: 9.50%
• Cash-on-cash: 11.44%
• DSCR: 1.51
• GRM: 6.9

CMA / ARV

• ARV (median comp): $121,907
• List price: $219,900
• Delta: 80.38%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5055 NE Elliott Cir #35	0.15mi	3/2.0 (-1)	1,512 (0%)	6mo	$125,000	$83	82
5055 NE Elliott Cir #51	0.15mi	4/2.0	1,404 (-7%)	9mo	$160,000	$114	73
5055 NE Elliott Cir #30	0.15mi	3/2.0 (-1)	1,512 (0%)	19mo	$173,750	$115	72

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: 3.8%
• Equity multiple: 1.15×
• Total profit: $9,357
• Equity at exit: $32,788

10-year hold

• IRR: 15.8%
• Equity multiple: 2.45×
• Total profit: $89,255
• Equity at exit: $19,013

Cash invested: $61,572 (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: 229
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,667 medium
• Mortgage (P&I): −$1,153
• Tax est. 1.5%: −$275 /mo · $3,298/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$560
• Net cashflow: $587

Break-even live

Break-even rent $1,924

Max offer price $219,900

Occupancy floor 73%

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $219,900 Active 863 DOM
2. 2026-06-18
   days on market $219,900 Active 862 DOM
3. 2026-06-17
   days on market $219,900 Active 861 DOM
4. 2026-06-16
   days on market $219,900 Active 860 DOM
5. 2026-06-15
   days on market $219,900 Active 859 DOM
6. 2026-06-14
   days on market $219,900 Active 857 DOM
7. 2026-06-10
   days on market $219,900 Active 854 DOM
8. 2026-06-09
   days on market $219,900 Active 853 DOM
9. 2026-06-08
   days on market $219,900 Active 852 DOM
10. 2026-06-07
    days on market $219,900 Active 851 DOM
11. 2026-06-05
    days on market $219,900 Active 848 DOM
12. 2026-06-03
    days on market $219,900 Active 847 DOM
13. 2026-06-02
    days on market $219,900 Active 846 DOM
14. 2026-06-01
    days on market $219,900 Active 845 DOM
15. 2026-05-31
    days on market $219,900 Active 844 DOM
16. 2026-05-30
    days on market $219,900 Active 843 DOM
17. 2024-02-07
    listed $219,900 Active 551-char remark

    Show marketing remark (551 chars)

    Brand new manufactured homes for sale in Knoll Terrace, an all-age community. Move-in ready homes and buildable floorplans. Complete package includes set-up & delivery, covered carport w/ concrete driveway, walkway, painted skirting, steps & wood rails, composite treads, rain gutters, front landscaping and Tuff shed. New kitchen appliances. Pet friendly, no breed or weight restrictions. Premier manufactured home community located in the heart of the Willamette Valley. Monthly space rent incentives and 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 · 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: $32,003
• − Mortgage interest: −$12,318
• − Property taxes: −$3,298
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,560
• − Management: −$2,560
• − Depreciation: −$6,397
• Taxable income: $3,769
• Est. tax owed @ 24.0%: −$905
• After-tax cash flow: $6,141/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 · 4 photos

Poor 20/100 Extensive rehab

This manufactured home requires extensive repairs and updates to its exterior, interior, and systems, significantly impacting its value. Immediate action is needed to address the deteriorating condition.

Repairs flagged

• Major exterior siding — Severe weathering
• Major roof shingles — Signs of aging
• Major interior walls/paint — No visible interior
• Major bathrooms — No visible bathrooms
• Major kitchen — No visible kitchen
• Major systems — No visible systems

Value-add opportunities

• Both exterior siding replacement — Enhances curb appeal and value
• Both roof replacement — Improves structural integrity and value
• Both interior painting — Enhances interior aesthetics and value
• Both bathroom updates — Improves functionality and value
• Both kitchen updates — Enhances functionality and value
• Both system upgrades — Improves functionality and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Severe weathering	Major	$15,000–50,000
roof shingles · Signs of aging	Major	$15,000–50,000
interior walls/paint · No visible interior	Major	$15,000–50,000
bathrooms · No visible bathrooms	Major	$15,000–50,000
kitchen · No visible kitchen	Major	$15,000–50,000
systems · No visible systems	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both exterior siding replacement — Enhances curb appeal and value ↑
• Both roof replacement — Improves structural integrity and value ↑
• Both interior painting — Enhances interior aesthetics and value ↑
• Both bathroom updates — Improves functionality and value ↑
• Both kitchen updates — Enhances functionality and value ↑
• Both system upgrades — Improves functionality and value ↑

ⓘ 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

1 event — show timeline

• 2024-02-07 Listed $219,900 Zillow