3 bd · 2.0 ba ·
1,782 sqft ·
Built 1996
· Manufactured
· Active
· 9 DOM
Cashflow @ list (25.0% down · 7.5%)
Estimated rent
$1,902/mo
Mortgage (P&I)
−$1,495
Tax + insurance
−$294
HOA
−$0
Vac / Maint / Mgmt
−$399
Net cashflow
$-286/mo
Annual
$-3,426/yr
Cap rate
5.09%
Cash-on-cash
-4.29%
DSCR
0.81
1% rule
0.67%
Cash to close
$79,800
Investor read
This is a 3-bed/2.0-bath manufactured listed at $285k.
At list price, monthly cash flow is $-286 ($-3k/yr) — negative.
To cash-flow at today's rent, offer at most $235k (17.7% below list).
To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $190k (33.3% below list).
Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
Recommended offer: $190k (33.3% below list) — sets the bar for 1% rule.
Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
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); 106 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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).
Lane County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
Current owner paid $108k; list at $285k implies a 164% gain — meaningful room to come down on a strong offer.
Cap rate 5.1% vs local median 2.7% 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.
Questions for listing agent
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?
Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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?
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?
The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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.
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.
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.
CashFlowRE · CFR-QKPG0J57AVPWJA
· Data 20 h agocashflowre.app · 2026-05-29