3355 N Delta Hwy #164 · Eugene, OR 97408

$180,000

2 bd · 2.0 ba · 1,512 sqft · Manufactured public records · 2 Days on market

Built 1994 Est $174k · at est.

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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 +27.4/30.0
• DSCR +9.6/10.0
• 1% rule +7.0/10.0
• ARV discount +5.9/15.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautiful 1994 2bed/2bath manufactured home in the very desirable 55 and older LakeRidge Park off N. Delta. Enjoy a peaceful lifestyle just minutes from shopping, dining, everyday conveniences and easy access to Ayres Lakes. The home has new paint inside, hard surface floors through-out and a new roof in 2019. It has very well-kept landscaping and a shed for extra storage. Move in Ready. Additional features include ADA accessibility and accommodations for a handicap occupant. Comfort, convenience, and quality come together in this exceptional LakeRidge home. COMMON AREAS, GATED, LIBRARY, MTGROOM, POOL, REC-FAC all included in lot rent.

Key facts

• Hard surface floors
• New paint
• Ada accessibility

Tags

• NEW PAINT
• HARD SURFACE FLOORS
• NEW ROOF
• WELL-KEPT LANDSCAPING
• SHED FOR EXTRA STORAGE
• ADA ACCESSIBILITY

Property features AI

Finance

• Financial info: Land lease in effect (expires June 30, 2026); Monthly lot rent of $1,095
• HOA & community: Lakeridge park amenities include commons, gated entry, lake easement, library, meeting room, pool and recreation facilities; Pets allowed (restrictions apply); Land lease with monthly lot rent

Exterior

• Parking: Attached carport and driveway parking for one vehicle
• Utilities: Public water; Public sewer; Electric service; Cable internet available
• Home design: Manufactured home in a park (residential); Single-story (main living all on main level); No notable view
• Construction: Built in 1994; Composition roof; Pillar/post/pier foundation with skirting
• Exterior features: T-111 siding; Level lot; Paved road access

Interior

• Kitchen: Dishwasher; Disposal; Free-standing range; Free-standing refrigerator; Range hood; Electric hot water
• Bedrooms: Primary bedroom on the main level; Second bedroom on the main level
• Bathrooms: Two full bathrooms, both on the main level
• Heating & cooling: Heat pump for heating and cooling
• Interior features: Accessible approach with ramp and accessible doors; Accessible full bathroom and roll-in shower; Main-floor bedroom with bath; Washer/Dryer included; Double-pane windows with vinyl frames; Crawl space basement
• Laundry & utility: Washer and dryer present

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $180k.

Deal economics

• At list price, monthly cash flow is $460 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Cap rate 9.8% 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-.
• Eugene SD 4J (urban): math 45% / reading 55% proficiency, ranked #10 of 58 in OR (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Gilham Elementary School (math 54% / reading 54%, grade C, #79 of 412 statewide, top 21%, 584 students, 36% FRL); Cal Young Middle School (math 32% / reading 52%, grade D-, #38 of 128 statewide, top 31%, 494 students, 48% FRL); Sheldon High School (math 70% / reading 70%, grade B, #14 of 143 statewide, top 10%, 1,525 students, 37% FRL) — zoned schools at 40% FRL track the district average.
• Market conditions: Rents rising (+4.0%/yr); 100 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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 $1k of loan paydown is wiped out by about $5k 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 + 4.0% rent growth), your $50k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 21y 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 $74k; list at $180k implies a 143% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $180,000

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
8. 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.
9. 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.
10. 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: 1.20% ✓
• Cap rate: 9.80%
• Cash-on-cash: 12.53%
• DSCR: 1.56
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $173,880
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3355 N Delta Hwy #97	0.00mi	2/2.0	1,512 (0%)	7mo	$175,000	$116	94
3355 N Delta Hwy #136	0.00mi	2/2.0	1,512 (0%)	14mo	$220,000	$146	88
3355 N Delta Hwy #140	0.00mi	3/2.0 (+1)	1,530 (+1%)	8mo	$176,000	$115	87
3355 N Delta Hwy #13	0.00mi	3/2.0 (+1)	1,550 (+2%)	8mo	$196,900	$127	84
1475 Green Acres Rd #157	0.33mi	2/2.0	1,464 (-3%)	0mo	$23,000	$16	79
3355 N Delta Hwy #107	0.00mi	2/2.0	1,391 (-8%)	15mo	$185,000	$133	74
1475 Green Acres Rd #162	0.33mi	2/2.0	1,533 (+1%)	12mo	$176,500	$115	72
3355 N Delta Hwy #153	0.00mi	3/2.0 (+1)	1,620 (+7%)	17mo	$190,000	$117	69
1475 Green Acres Rd #40	0.33mi	2/2.0	1,440 (-5%)	11mo	$69,900	$49	67
1475 Green Acres Rd #06	0.33mi	2/2.0	1,340 (-11%)	8mo	$125,000	$93	59
1475 Green Acres Rd #158	0.33mi	2/2.0	1,345 (-11%)	12mo	$45,900	$34	56
1475 Green Acres Rd #69	0.33mi	2/2.0	1,296 (-14%)	13mo	$37,500	$29	50

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 · 3.97% rent growth · sell at horizon

5-year hold

• IRR: 1.2%
• Equity multiple: 1.05×
• Total profit: $2,272
• Equity at exit: $26,839

10-year hold

• IRR: 11.8%
• Equity multiple: 1.97×
• Total profit: $48,711
• Equity at exit: $15,563

Cash invested: $50,400 (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 97408

• Rents YoY: 4.0%
• Active inventory: 100
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,157 high
• Mortgage (P&I): −$944
• Tax from tax record: −$159 /mo · $1,905/yr
• Insurance: −$75
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$453
• Net cashflow: $460

Break-even live

Break-even rent $1,575

Max offer price $180,000

Occupancy floor 74%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3328 Lake Glenn Dr Eugene, OR	2.0	1.0	1114	$1,800	$1.62	44d	1	0.26mi
1440 John Day Dr Eugene, OR	1.0–3.0	1.0–2.5	1050	$2,349	$2.24	14d	38	0.43mi
1367 Umpqua Ave Eugene, OR	1.0–2.0	1.0–2.0	850	$2,675	$3.15	14d	46	0.64mi
2517 Quebec St Eugene, OR	3.0	2.0	1246	$2,195	$1.76	44d	1	0.70mi
2300 Norkenzie Rd Eugene, OR	2.0	1.5	980	$1,445	$1.47	44d	1	0.77mi
2545 Benson Ln Eugene, OR	3.0	2.0	1340	$2,400	$1.79	44d	1	0.87mi
2310 Snelling Dr Eugene, OR	3.0	2.0	1400	$2,395	$1.71	14d	1	0.90mi
1877 Brewer Ave Eugene, OR	3.0–4.0	1.0–1.5	1102	$1,649	$1.50	14d	2	0.94mi
2423 Benson Ln Eugene, OR	3.0	2.0	1525	$2,800	$1.84	21d	1	0.95mi
2459 Lakeview Dr Eugene, OR	1.0–3.0	1.0–2.0	966	$1,790	$1.85	14d	24	0.95mi
2940 Matt Dr Eugene, OR	3.0	2.0	1438	$2,500	$1.74	44d	1	0.97mi
1981 Margaret St Eugene, OR	3.0	2.0	1600	$2,495	$1.56	44d	1	1.09mi
2847 Tennyson Ave Eugene, OR	3.0	1.0–2.0	902	$2,178	$2.41	14d	8	1.18mi
1844 Happy Ln Eugene, OR	1.0	1.0–2.0	1040	$1,692	$1.63	14d	5	1.28mi
2754 Chad Dr Eugene, OR	3.0	2.0	1381	$2,295	$1.66	44d	1	1.30mi
53 Hillview 1 Unit 1 Eugene, OR	3.0	2.5	1550	$2,595	$1.67	14d	1	1.32mi
1500 Norkenzie Rd #67 Eugene, OR	3.0	1.5	1210	$2,395	$1.98	44d	1	1.41mi
1150 Darlene Ln Eugene, OR	1.0–2.0	1.0–2.5	924	$2,285	$2.47	14d	16	1.44mi
1485 Perdue Loop Eugene, OR	2.0	2.0	1484	$2,295	$1.55	14d	1	1.50mi

Listing history 3 events

1. 2026-06-18
   days on market $180,000 Active 2 DOM
2. 2026-06-10
   remarks 643-char remark
3. 2026-06-10
   listed $180,000 Active 1 DOM

ⓘ 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: $1,905 · $159/mo
• Projected year-2 tax: $1,905 · $159/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 7/10 Severe FEMA zone X (unshaded) · 76% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥93°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: $25,882
• − Mortgage interest: −$10,083
• − Property taxes: −$1,905
• − Insurance: −$1,697
• − Repairs & maintenance: −$2,071
• − Management: −$2,071
• − Depreciation: −$5,236
• Taxable income: $2,819
• Est. tax owed @ 24.0%: −$677
• After-tax cash flow: $4,840/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: Eugene SD 4J
• NCES district ID: 4104740
• Math proficiency: 45% ▼ -2.00%
• Reading proficiency: 55% ▼ -4.00%
• Median HH income: $43,688
• Composite: 42.15/100
• National rank: #3302
• State rank: #10 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): 15,420
• Household income: $104,945
• Rent vs Own: 34.9% rent · 65.1% own
• Severe rent burden: 402.0

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 (77%)
• Race & ethnicity: White 77% Two or more races 11% Hispanic / Latino 9% Asian 4% Black 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Slovak 5% Lithuanian 5% Portuguese 4%
• Foreign-born: 7% · Canada, China, South Korea
• Languages at home: 91% English-only · Spanish 4% French/Haitian/Cajun 1% Chinese 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: ▼ -196.97%
• Current HPI: 286.5805
• Rent YoY: ▲ 3.97%
• 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

+140.0% since first listed

4 events — show timeline

• 2026-06-10 Listed $180,000 RMLS
• 2005-06-03 Sold (MLS) $74,000 RMLS
• 2005-04-20 Delisted — RMLS
• 2005-03-02 Listed $75,000 RMLS

Property tax history

+2.7%/yr

Latest (2025): $1,905 · +1.3% YoY. Source: county tax records.