5335 Main St #7 · Springfield, OR 97478

$24,000

2 bd · 1.0 ba · 784 sqft · Manufactured public records · 96 Days on market

Built 1979 $31/sqft · 49% below area Est $48k · 49% under ↓ 7% since listing

---

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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.2/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming 2-bedroom, 1-bath home is ready for you to make it your own. Home offers a good separation of space. Outside there are two tool sheds and a carport for parking. Located in a friendly 55+ community, it offers convenient access to the freeway, grocery stores, local dining, and the Willamette River. Residents enjoy a variety of community amenities, including a clubhouse, seasonal pool, fitness center, sauna, hot tub, ball court, putting green, and horseshoe pits. Monthly space rent is $1,065. Come view it today.

Key facts

• Two tool sheds
• Access to freeway
• Carport for parking

Tags

• TWO TOOL SHEDS
• CARPORT FOR PARKING
• ACCESS TO FREEWAY
• ACCESS TO GROCERY STORES
• ACCESS TO LOCAL DINING
• ACCESS TO WILLAMETTE RIVER

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $24k.

Deal economics

• At list price, monthly cash flow is $994 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $24k).
• Recommended offer: $22k (9.0% below list) — sets the bar for market timing.
• Cap rate 56.0% vs local median 3.0% in Springfield — 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 83/100 on livability (#40 in OR, #934 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: schools D+, crime D+, employment D+.
• Springfield SD 19 (suburban): math 19% / reading 38% proficiency, ranked #48 of 58 in OR (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+3.4%/yr); 263 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,808 units permitted in Lane County in 2024 (972 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $166 of loan paydown is wiped out by about $720 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 + 3.4% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 96 days — a 9% lower offer ($22k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $21,840 (9.0% below list)

Questions for the listing agent

1. It's been on market 96 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. 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: 6.12% ✓
• Cap rate: 56.01%
• Cash-on-cash: 177.57%
• DSCR: 8.90
• GRM: 1.4

CMA / ARV

• ARV (median comp): $47,500
• List price: $24,000
• Delta: -49.47%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5335 Main St #187	0.00mi	2/1.0	784 (0%)	2mo	$55,000	$70	99
5335 Main St #34	0.00mi	2/1.0	728 (-7%)	0mo	$29,900	$41	88
205 S 54th St #117	0.16mi	2/2.0	800 (+2%)	8mo	$9,000	$11	79
205 S 54th St #60	0.16mi	2/1.0	784 (0%)	17mo	$22,500	$29	78
205 S 54th St #107	0.16mi	2/1.0	768 (-2%)	17mo	$11,500	$15	75
5335 Daisy St #58	0.28mi	2/1.0	784 (0%)	14mo	$57,000	$73	75
205 S 54th St #108	0.16mi	2/1.0	728 (-7%)	7mo	$60,000	$82	74
5335 Main St #229	0.00mi	2/1.0	896 (+14%)	8mo	$27,650	$31	69
658 S 57 Th st Space 67	0.33mi	2/1.0	830 (+6%)	18mo	$44,000	$53	60
205 S 54th St	0.15mi	2/1.0	672 (-14%)	13mo	$31,400	$47	59
205 S 54th St #35	0.16mi	2/2.0	880 (+12%)	14mo	$35,500	$40	56
5335 Daisy St #130	0.21mi	3/1.0 (+1)	672 (-14%)	12mo	$20,000	$30	51

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 · 3.38% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 9.93×
• Total profit: $60,031
• Equity at exit: $3,578

10-year hold

• IRR: —
• Equity multiple: 21.27×
• Total profit: $136,248
• Equity at exit: $2,075

Cash invested: $6,720 (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 97478

• Rents YoY: 3.4%
• Active inventory: 263
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $1,469 high
• Mortgage (P&I): −$126
• Tax est. 1.5%: −$30 /mo · $360/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $994

Break-even live

Break-even rent $210

Max offer price $24,000

Occupancy floor 27%

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: $6,000
• Closing costs: $720
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
176 S 53rd St Unit 04 Springfield, OR	2.0	1.5	971	$1,250	$1.29	43d	1	0.10mi
5312 Main St Unit 14 Springfield, OR	2.0	1.0	780	$1,199	$1.54	43d	1	0.15mi
5312 Main St Unit 13 Springfield, OR	2.0	1.0	780	$1,299	$1.67	43d	1	0.15mi
421 S 58th St Unit 00136 Springfield, OR	2.0	1.0	1100	$1,600	$1.45	13d	1	0.50mi
5817 Aster St Apt 3 Springfield, OR	2.0	1.5	1000	$1,295	$1.29	13d	1	0.51mi
4830 Elderberry Loop Springfield, OR	2.0	1.0	950	$1,595	$1.68	43d	1	0.58mi
4885 Aster St Springfield, OR	2.0	1.5	1000	$1,734	$1.73	13d	18	0.64mi
4800 B St Springfield, OR	2.0	2.0	968	$1,662	$1.72	13d	1	0.69mi
5040 E St #1 Springfield, OR	3.0	1.0	1000	$1,895	$1.90	13d	1	0.69mi
5040 E St #12 Springfield, OR	3.0	1.0	912	$1,895	$2.08	43d	1	0.69mi
5040 E St #21 Springfield, OR	3.0	1.0	1000	$1,795	$1.79	13d	1	0.69mi
1075 56th Pl Springfield, OR	3.0	1.0	904	$1,795	$1.99	43d	1	0.83mi
274 S 47th St Unit B Springfield, OR	2.0	1.0	940	$1,150	$1.22	21d	1	0.84mi
5580 High Banks Rd Springfield, OR	2.0	1.0	800	$1,590	$1.99	43d	1	0.91mi
4625 Main St Unit 8 Springfield, OR	2.0	1.0	650	$1,250	$1.92	13d	1	0.92mi

Listing history 16 events

1. 2026-06-18
   days on market $24,000 Active 96 DOM
2. 2026-06-17
   days on market $24,000 Active 95 DOM
3. 2026-06-16
   days on market $24,000 Active 94 DOM
4. 2026-06-15
   days on market $24,000 Active 93 DOM
5. 2026-06-14
   days on market $24,000 Active 91 DOM
6. 2026-06-10
   days on market $24,000 Active 88 DOM
7. 2026-06-09
   days on market $24,000 Active 87 DOM
8. 2026-06-08
   days on market $24,000 Active 86 DOM
9. 2026-06-07
   days on market $24,000 Active 85 DOM
10. 2026-06-03
    days on market $24,000 Active 81 DOM
11. 2026-06-02
    days on market $24,000 Active 80 DOM
12. 2026-06-01
    days on market $24,000 Active 79 DOM
13. 2026-05-31
    days on market $24,000 Active 78 DOM
14. 2026-05-30
    days on market $24,000 Active 77 DOM
15. 2026-04-16
    price $25,600 528-char remark

    Show marketing remark (528 chars)

    This charming 2-bedroom, 1-bath home is ready for you to make it your own. Home offers a good separation of space. Outside there are two tool sheds and a carport for parking. Located in a friendly 55+ community, it offers convenient access to the freeway, grocery stores, local dining, and the Willamette River. Residents enjoy a variety of community amenities, including a clubhouse, seasonal pool, fitness center, sauna, hot tub, ball court, putting green, and horseshoe pits. Monthly space rent is $1,065. Come view it today.

16. 2026-03-14
    listed $27,600 Active 528-char remark

    Show marketing remark (528 chars)

    This charming 2-bedroom, 1-bath home is ready for you to make it your own. Home offers a good separation of space. Outside there are two tool sheds and a carport for parking. Located in a friendly 55+ community, it offers convenient access to the freeway, grocery stores, local dining, and the Willamette River. Residents enjoy a variety of community amenities, including a clubhouse, seasonal pool, fitness center, sauna, hot tub, ball court, putting green, and horseshoe pits. Monthly space rent is $1,065. Come view it today.

ⓘ 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 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥91°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 13 unhealthy d/yr today · 15 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,624
• − Mortgage interest: −$1,344
• − Property taxes: −$360
• − Insurance: −$120
• − Repairs & maintenance: −$1,410
• − Management: −$1,410
• − Depreciation: −$698
• Taxable income: $12,282
• Est. tax owed @ 24.0%: −$2,948
• After-tax cash flow: $8,985/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: Springfield SD 19
• NCES district ID: 4111670
• Math proficiency: 19% ▼ -13.00%
• Reading proficiency: 38% ▼ -10.00%
• Median HH income: $42,236
• Composite: 24.14/100
• National rank: #7746
• State rank: #48 of 58 in OR

Livability — Springfield

• Score: 83/100
• State rank: #40
• US rank: #934

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Springfield, OR
• County: Lane County · 310,476 people
• City population: 76,907
• Metro: Eugene-Springfield, OR
• Population (ZIP): 39,373
• Household income: $80,086
• Rent vs Own: 31.0% rent · 69.0% own
• Severe rent burden: 904.0

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 12% Two or more races 9% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Slovak 4% Lithuanian 3% Portuguese 3%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 5% Tagalog/Filipino 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: ▼ -395.83%
• Current HPI: 302.9203
• Rent YoY: ▲ 3.38%
• 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

-7.2% since first listed

2 events — show timeline

• 2026-04-16 Price Changed $25,600 RMLS
• 2026-03-14 Listed $27,600 RMLS

Property tax history

-45.8%/yr

Latest (2015): $6 · +0.0% YoY. Source: county tax records.