2010 SE 3rd St #34 · Corvallis, OR 97333

$69,000

2 bd · 1.0 ba · 800 sqft · Manufactured · 130 Days on market

Built 1974 Fair condition Est $73k · 5% under

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +9.8/15.0
• Schools +4.9/10.0
• Livability +4.1/5.0
• Rent growth +3.2/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Solid manufactured home in a fantastic all age park! Located in desirable location. All new appliances, countertops, and flooring throughout. Park rent is $525 per month and that includes garbage and sewer. Manufactured home financed available. Must see to appreciate!

Key facts

• Manufactured home
• New flooring
• Desirable location

Tags

• MANUFACTURED HOME
• ALL AGE PARK
• NEW APPLIANCES
• NEW COUNTERTOPS
• NEW FLOORING
• DESIRABLE LOCATION

Property features AI

Finance

• Other: Square footage source: County
• Financial info: Park rent $525 per month (includes sewer and garbage); Home warranty negotiable; Manufactured home financing available

Exterior

• Parking: Carport; 1-car garage
• Utilities: City water; City sewer; Electric water heater; Park rent includes sewer and garbage
• Home design: Double wide manufactured home
• Construction: Built in 1974; Statler manufactured home (Serial: 61NS3624F2S3); Located in Sunrise Mobile park (non-adult park)
• Exterior features: Shed; Cul-de-sac lot

Interior

• Bedrooms: Bonus room: Breakfast room/nook; Dining area (combination)
• Flooring: Carpet; Vinyl; Laminate
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: High-speed communication available; No garbage disposal

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $69k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $851 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $69k).
• Recommended offer: $61k (12.0% below list) — sets the bar for market timing.
• Cap rate 21.1% 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.
• Zoned schools: Lincoln Elementary School (331 students, 45% FRL); Corvallis High School (1,284 students, 40% FRL).
• Market conditions: Rents rising (+2.6%/yr); 87 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 116 units permitted in Benton County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($65k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $477 of loan paydown is wiped out by about $2k 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 + 2.6% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 130 days — a 12% lower offer ($61k) is reasonable based on typical stale-listing flexibility.

Recommended offer $60,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 130 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. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 2.44% ✓
• Cap rate: 21.09%
• Cash-on-cash: 52.83%
• DSCR: 3.35
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $72,800
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2010 SW 3rd St #10	0.08mi	2/1.0	728 (-9%)	11mo	$65,000	$89	72
2010 SW 3rd St #19	0.08mi	3/2.0 (+1)	756 (-6%)	14mo	$69,000	$91	66

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 · 2.63% rent growth · sell at horizon

5-year hold

• IRR: 50.4%
• Equity multiple: 3.19×
• Total profit: $42,397
• Equity at exit: $10,288

10-year hold

• IRR: 55.7%
• Equity multiple: 6.40×
• Total profit: $104,243
• Equity at exit: $5,966

Cash invested: $19,320 (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 97333

• Rents YoY: 2.6%
• Active inventory: 87
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,680 high
• Mortgage (P&I): −$362
• Tax est. 1.5%: −$86 /mo · $1,035/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $851

Break-even live

Break-even rent $604

Max offer price $69,000

Occupancy floor 44%

Sensitivity live

Price	-10% $898	-5% $874	+0% $851	+5% $827	+10% $803
Rent	-10% $718	-5% $784	+0% $851	+5% $917	+10% $983
Rate	-1.0pp $885	-0.5pp $868	base $851	+0.5pp $833	+1.0pp $815

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 SE Viewmont Ave Unit 110-A Corvallis, OR	2.0	1.5	1080	$1,550	$1.44	44d	1	0.17mi
350 SE Lilly Ave Apt 3 Corvallis, OR	1.0	1.0	600	$1,395	$2.33	44d	1	0.21mi
325 SE Lilly Ave Unit A Corvallis, OR	2.0	1.5	856	$1,525	$1.78	44d	1	0.22mi
445 SW Tunison Ave Unit 445-13 Corvallis, OR	2.0	1.0	760	$1,395	$1.84	44d	1	0.26mi
2000 SE Bethel St Corvallis, OR	3.0	1.0	937	$2,325	$2.48	44d	1	0.32mi
2567 SW Pickford St Unit C Corvallis, OR	2.0	1.0	800	$1,295	$1.62	45d	1	0.37mi
2665 SW Pickford St Unit CNV 57 Corvallis, OR	2.0	1.0	756	$1,395	$1.85	45d	1	0.43mi
1750 SE Crystal Lake Dr Unit 1750-E Corvallis, OR	2.0	2.0	954	$1,499	$1.57	44d	1	0.53mi
1680 SE Crystal Lake Dr Unit 1680-E Corvallis, OR	2.0	2.0	954	$1,499	$1.57	44d	1	0.53mi
1300 SW E Ave Apt 322 Corvallis, OR	1.0	1.0	650	$1,195	$1.84	44d	1	0.83mi
1315 SW E Ave Corvallis, OR	1.0	1.0	700	$1,400	$2.00	44d	1	0.86mi
363 SW B Ave Unit 363-01 Corvallis, OR	1.0	1.0	650	$1,295	$1.99	44d	1	0.89mi
975 SW 15th St Corvallis, OR	1.0–2.0	1.0–1.5	720	$1,895	$2.63	44d	8	0.90mi
900 SE Centerpointe Dr Corvallis, OR	1.0–3.0	1.0–2.0	952	$1,662	$1.74	44d	1	1.03mi
2610 SW Western Blvd Unit 10301 Corvallis, OR	2.0	1.0	1050	$1,595	$1.52	44d	1	1.05mi
427 SW 5th St Corvallis, OR	2.0	1.0	602	$1,775	$2.95	44d	1	1.06mi
707 SW 10th St Corvallis, OR	4.0	1.0–3.0	1513	$2,935	$1.94	44d	14	1.07mi
2740 SW Western Blvd Corvallis, OR	1.0	1.0	566	$1,377	$2.43	44d	1	1.07mi
3460 SE Midvale Dr Corvallis, OR	1.0–3.0	1.0–1.5	858	$1,610	$1.88	44d	1	1.10mi
422 SW 9th St Corvallis, OR	3.0	1.0	1009	$2,295	$2.27	44d	1	1.15mi
118 NW Jackson Ave Unit 306 Corvallis, OR	2.0	1.5	828	$2,200	$2.66	44d	1	1.33mi
118 NW Jackson Ave Unit 409 Corvallis, OR	1.0	1.0	768	$2,095	$2.73	44d	1	1.34mi

Listing history 17 events

1. 2026-06-19
   days on market $69,000 Active 130 DOM
2. 2026-06-18
   days on market $69,000 Active 129 DOM
3. 2026-06-17
   days on market $69,000 Active 128 DOM
4. 2026-06-16
   days on market $69,000 Active 127 DOM
5. 2026-06-15
   days on market $69,000 Active 126 DOM
6. 2026-06-14
   days on market $69,000 Active 124 DOM
7. 2026-06-10
   days on market $69,000 Active 121 DOM
8. 2026-06-09
   days on market $69,000 Active 120 DOM
9. 2026-06-08
   days on market $69,000 Active 119 DOM
10. 2026-06-07
    days on market $69,000 Active 118 DOM
11. 2026-06-05
    days on market $69,000 Active 115 DOM
12. 2026-06-03
    days on market $69,000 Active 114 DOM
13. 2026-06-02
    days on market $69,000 Active 113 DOM
14. 2026-06-01
    days on market $69,000 Active 112 DOM
15. 2026-05-31
    days on market $69,000 Active 111 DOM
16. 2026-05-30
    days on market $69,000 Active 110 DOM
17. 2026-02-10
    listed $69,000 Active

ⓘ 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 4/10 Moderate FEMA zone X (shaded) · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥91°F today · 14 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: $20,164
• − Mortgage interest: −$3,865
• − Property taxes: −$1,035
• − Insurance: −$345
• − Repairs & maintenance: −$1,613
• − Management: −$1,613
• − Depreciation: −$2,007
• Taxable income: $9,685
• Est. tax owed @ 24.0%: −$2,324
• After-tax cash flow: $7,883/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 · 13 photos

Fair 45/100 Moderate rehab

This manufactured home requires moderate repairs and maintenance, including painting and landscaping, to improve its condition and value.

Repairs flagged

• Major roof — Significant wear and tear
• Major exterior siding — Worn and peeling
• Major landscaping — Sparse and unkempt

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Paint interior walls — Improves interior appearance and value
• Both Landscaping and yard maintenance — Enhances curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Significant wear and tear	Major	$15,000–50,000
exterior siding · Worn and peeling	Major	$15,000–50,000
landscaping · Sparse and unkempt	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Paint interior walls — Improves interior appearance and value ↑
• Both Landscaping and yard maintenance — Enhances curb appeal 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

• Census place: Corvallis, OR
• County: Benton County · 98,484 people
• City population: 67,812
• Metro: Corvallis, OR
• Population (ZIP): 23,934
• Household income: $65,191
• Rent vs Own: 55.4% rent · 44.6% own
• Severe rent burden: 2038.0

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 (78%)
• Race & ethnicity: White 78% Hispanic / Latino 9% Two or more races 8% Asian 7%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 5% Slovak 4% Portuguese 3%
• Foreign-born: 10% · China, Canada
• Languages at home: 87% English-only · Spanish 5% Chinese 4% Other Indo-European 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: ▼ -376.98%
• Current HPI: 309.2734
• Rent YoY: ▲ 2.63%
• 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

• 2026-02-10 Listed $69,000 WVMLS