1600 Rhododendron Dr #293 · Florence, OR 97439

$164,000

2 bd · 1.0 ba · 728 sqft · Manufactured public records · 52 Days on market

Built 1981 6,969 sqft lot $225/sqft · 20% below area Est $205k · 20% under $335/mo HOA · 21% of rent

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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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +7.8/30.0
• 1% rule +4.9/10.0
• Schools +3.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.9/10.0

Listing remarks MLS

Charming and affordable 2-bedroom, 1-bath private single-wide manufactured home located in the desirable gated Greentrees Village community. This well-maintained 1981 home offers 728 square feet of comfortable living space with a functional and efficient layout, perfect for easy coastal living. The interior features a bright living area, practical kitchen with ample cabinet space, and two comfortably sized bedrooms—ideal for full-time living, a vacation getaway, or investment potential.An attached one-car carport provides convenient covered parking and additional storage. Enjoy low-maintenance living with HOA amenities that include water, sewer, and trash service, along with access to the clubhouse featuring swimming pools, tennis courts, and social spaces for residents.Greentrees Village is known for its peaceful, gated setting and strong sense of community. Conveniently located less than 2 miles from Old Town Florence, you’ll have easy access to shopping, dining, and coastal attractions while still enjoying a quiet residential environment.A great opportunity to own an affordable home in one of Florence’s most sought-after communities!

Key facts

• 6,969 sq ft lot
• Garage
• Community pool

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $164k.

Deal economics

• At list price, monthly cash flow is $-179 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $138k (15.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $163k (0.5% below list).
• Recommended offer: $138k (15.8% below list) — sets the bar for cash-flow.
• Cap rate 5.0% vs local median 2.6% in Florence — 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 70/100 on livability (#142 in OR) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing A, crime A-; Watch: employment C-, amenities F, commute F.
• 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 $18k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Lane County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$44k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($159k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 20y ago; this cycle's ask has dropped $11k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $110k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.

Recommended offer $138,031 (15.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.99% ✗
• Cap rate: 4.98%
• Cash-on-cash: -4.69%
• DSCR: 0.79
• GRM: 8.4

CMA / ARV

• ARV (median comp): $205,026
• List price: $164,000
• Delta: -20.01%
• 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
1600 Rhododendron Dr #277	0.21mi	2/1.0	672 (-8%)	8mo	$200,000	$298	71

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: 21.0%
• Equity multiple: 2.70×
• Total profit: $78,119
• Equity at exit: $147,744

10-year hold

• IRR: 19.1%
• Equity multiple: 6.22×
• Total profit: $239,494
• Equity at exit: $318,616

Cash invested: $45,920 (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: 8.4×

Monthly cashflow live

• Estimated rent: $1,632 medium
• Mortgage (P&I): −$860
• Tax est. 1.5%: −$205 /mo · $2,460/yr
• Insurance: −$68
• HOA: −$335
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $-179

Break-even live

Break-even rent $1,859

Max offer price $138,031

Occupancy floor —

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: $41,000
• Closing costs: $4,920
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $335 · $4,020/yr
• Likely covers: watersewertrashpoolsecurity

Listing history 13 events

1. 2026-04-21
   price $164,000 1172-char remark

   Show marketing remark (1172 chars)

   Charming and affordable 2-bedroom, 1-bath private single-wide manufactured home located in the desirable gated Greentrees Village community. This well-maintained 1981 home offers 728 square feet of comfortable living space with a functional and efficient layout, perfect for easy coastal living. The interior features a bright living area, practical kitchen with ample cabinet space, and two comfortably sized bedrooms—ideal for full-time living, a vacation getaway, or investment potential.An attached one-car carport provides convenient covered parking and additional storage. Enjoy low-maintenance living with HOA amenities that include water, sewer, and trash service, along with access to the clubhouse featuring swimming pools, tennis courts, and social spaces for residents.Greentrees Village is known for its peaceful, gated setting and strong sense of community. Conveniently located less than 2 miles from Old Town Florence, you’ll have easy access to shopping, dining, and coastal attractions while still enjoying a quiet residential environment.A great opportunity to own an affordable home in one of Florence’s most sought-after communities!

2. 2026-04-01
   listed $175,000 Active 1172-char remark

   Show marketing remark (1172 chars)

   Charming and affordable 2-bedroom, 1-bath private single-wide manufactured home located in the desirable gated Greentrees Village community. This well-maintained 1981 home offers 728 square feet of comfortable living space with a functional and efficient layout, perfect for easy coastal living. The interior features a bright living area, practical kitchen with ample cabinet space, and two comfortably sized bedrooms—ideal for full-time living, a vacation getaway, or investment potential.An attached one-car carport provides convenient covered parking and additional storage. Enjoy low-maintenance living with HOA amenities that include water, sewer, and trash service, along with access to the clubhouse featuring swimming pools, tennis courts, and social spaces for residents.Greentrees Village is known for its peaceful, gated setting and strong sense of community. Conveniently located less than 2 miles from Old Town Florence, you’ll have easy access to shopping, dining, and coastal attractions while still enjoying a quiet residential environment.A great opportunity to own an affordable home in one of Florence’s most sought-after communities!

3. 2023-08-29
   historical $1,450
4. 2023-08-04
   listed $1,450
5. 2018-08-06
   soldstatus $110,000 321-char remark

   Show marketing remark (321 chars)

   Enjoy all the coast has to offer! Easy maintenance 2 bed 1 bath home with new appliances and open dining/living room floor plan on an elevated lot in 55 + gated community of Greentrees Village! Check out the Website at Greentreesvillage.com to learn about all the amenities offered to residents. SHOWN BY APPOINTMENT ONLY

6. 2018-05-06
   listed $115,000 321-char remark

   Show marketing remark (321 chars)

   Enjoy all the coast has to offer! Easy maintenance 2 bed 1 bath home with new appliances and open dining/living room floor plan on an elevated lot in 55 + gated community of Greentrees Village! Check out the Website at Greentreesvillage.com to learn about all the amenities offered to residents. SHOWN BY APPOINTMENT ONLY

7. 2017-03-21
   soldstatus $84,500 Sold
8. 2017-03-08
   status Pending
9. 2017-02-18
   listed $89,000 Active
10. 2006-06-07
    soldstatus $126,500
11. 2006-06-07
    soldstatus $126,500
12. 2006-05-25
    historical
13. 2006-03-23
    listed $132,000

ⓘ 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 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥77°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,578
• − Mortgage interest: −$9,187
• − Property taxes: −$2,460
• − Insurance: −$820
• − Repairs & maintenance: −$1,566
• − Management: −$1,566
• − HOA: −$4,020
• − Depreciation: −$4,771
• Taxable loss: −$4,812
• Est. tax savings @ 24.0%: +$1,155
• After-tax cash flow: $-999/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 — Florence

• Score: 70/100
• State rank: #142
• US rank: #8094

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Florence, OR
• 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

+24.2% since first listed

13 events — show timeline

• 2026-04-21 Price Changed $164,000 RMLS
• 2026-04-01 Listed $175,000 RMLS
• 2023-08-29 Rental Removed $1,450 APPFOLIO
• 2023-08-04 Listed for Rent $1,450 APPFOLIO
• 2018-08-06 Sold (MLS) $110,000 OCMLS
• 2018-05-06 Listed $115,000 OCMLS
• 2017-03-21 Sold (MLS) $84,500 RMLS
• 2017-03-08 Pending — RMLS
• 2017-02-18 Listed $89,000 RMLS
• 2006-06-07 Sold (Public Records) $126,500 Public Records
• 2006-06-07 Sold (MLS) $126,500 RMLS
• 2006-05-25 Delisted — RMLS
• 2006-03-23 Listed $132,000 RMLS

Property tax history

+4.0%/yr

Latest (2017): $155 · +3.1% YoY. Source: county tax records.