4900 Royal Ave · Eugene, OR 97402

$97,000

3 bd · 2.0 ba · 1,296 sqft · Manufactured · 29 Days on market

Built 2004 Poor condition Est $111k · 13% 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
• ARV discount +13.3/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Rent growth +2.9/5.0
• Schools +2.3/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Royal Oaks all ages community, space #11. 1980 Fleetwood Mojave Series manufactured home offering 3 bedrooms, 2 bathrooms, and 924 sq. ft. of living space. The open great room layout provides a functional flow, complemented by ductless heating and cooling. Kitchen includes all appliances. The split-bedroom floor plan offers privacy with bedrooms located on opposite ends of the home. Exterior features include a private yard with mature landscaping, ideal for gardening or outdoor living. Community amenities include an inground pool, clubhouse, and playground. Royal Oaks is an all-ages community conveniently located near shopping, schools, and services. Inquire about community approval requirements and space rent.

Key facts

• Outdoor pool
• Clubhouse
• Kitchen pantry

Tags

• CORNER LOT
• RECENTLY REDONE FRONT DECK
• KITCHEN PANTRY
• OUTDOOR POOL
• CLUBHOUSE
• PLAYGROUND

Property features AI

Exterior

• Home design: Built in 2004; Single-family property
• Construction: Living area approximately 1296; Built in 2004 construction
• Exterior features: Located in the Bethel-Danebo subdivision

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $97k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $97k).
• Recommended offer: $96k (1.5% below list) — sets the bar for market timing.
• Cap rate 18.7% 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-.
• Bethel SD 52 (urban): math 18% / reading 34% proficiency, ranked #52 of 58 in OR (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+1.6%/yr); 297 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 46% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,808 units permitted in Lane County in 2024 (972 in 5+ unit buildings).
• This rent runs 44% of the median local income ($58k/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 $671 of loan paydown is wiped out by about $3k 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 + 1.6% rent growth), your $27k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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 $26k; list at $97k implies a 273% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $95,545 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. 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: 2.19% ✓
• Cap rate: 18.73%
• Cash-on-cash: 44.43%
• DSCR: 2.98
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $111,456
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1199 N Terry St #137	0.39mi	3/2.0	1,296 (0%)	3mo	$133,000	$103	79
4900 Royal Ave #3	0.00mi	3/2.0	1,152 (-11%)	5mo	$145,000	$126	77
4939 Morely Loop	0.41mi	3/2.0	1,296 (0%)	10mo	$270,000	$208	73
1199 N Terry St #404	0.39mi	3/2.0	1,196 (-8%)	3mo	$89,500	$75	67
1199 N Terry St #302	0.39mi	2/2.0 (-1)	1,344 (+4%)	7mo	$85,000	$63	65
1199 N Terry St #113	0.39mi	2/2.0 (-1)	1,152 (-11%)	3mo	$90,125	$78	56
1199 N Terry St #394	0.39mi	2/2.0 (-1)	1,188 (-8%)	10mo	$102,400	$86	54
1199 N Terry St #228	0.39mi	2/2.0 (-1)	1,152 (-11%)	6mo	$63,000	$55	53
1400 Candlelight Dr #99	0.69mi	3/2.0	1,248 (-4%)	11mo	$84,900	$68	52
1400 Candlelight Dr #200	0.69mi	3/2.0	1,152 (-11%)	2mo	$62,500	$54	48
1400 Candlelight Dr #105	0.69mi	2/2.0 (-1)	1,176 (-9%)	0mo	$107,500	$91	47
1400 Candlelight Dr #246	0.69mi	3/2.0	1,413 (+9%)	10mo	$195,000	$138	45

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 · 1.58% rent growth · sell at horizon

5-year hold

• IRR: 39.8%
• Equity multiple: 2.67×
• Total profit: $45,375
• Equity at exit: $14,463

10-year hold

• IRR: 45.5%
• Equity multiple: 5.06×
• Total profit: $110,197
• Equity at exit: $8,387

Cash invested: $27,160 (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 97402

• Rents YoY: 1.6%
• Active inventory: 297
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $2,122 high
• Mortgage (P&I): −$509
• Tax est. 1.5%: −$121 /mo · $1,455/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$446
• Net cashflow: $1,006

Break-even live

Break-even rent $849

Max offer price $97,000

Occupancy floor 48%

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: $24,250
• Closing costs: $2,910
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
653 Oakwood Dr Eugene, OR	3.0	2.0	1584	$2,400	$1.52	13d	1	0.28mi
1040 Lamplite Ln Eugene, OR	3.0	1.0	912	$1,895	$2.08	43d	1	0.33mi
4478 Fergus Ave Eugene, OR	3.0	1.5	1120	$1,695	$1.51	43d	1	0.67mi
1625 Hamlet Ln Eugene, OR	3.0	2.5	1548	$2,395	$1.55	21d	1	0.79mi
1635 Hamlet Ln Eugene, OR	3.0	2.5	1548	$2,100	$1.36	13d	1	0.80mi
4057 Concord St Eugene, OR	4.0	1.0	1800	$2,000	$1.11	43d	1	1.12mi
2106 Golden Gardens St Eugene, OR	3.0	1.0	1410	$1,995	$1.41	43d	1	1.24mi
2083 Amirante St Eugene, OR	3.0	2.0	1250	$2,295	$1.84	21d	1	1.29mi
2077 Lemuria St Eugene, OR	4.0	2.0	1400	$1,995	$1.43	43d	1	1.30mi
128 Chase St Eugene, OR	2.0	1.5	1378	$1,895	$1.38	43d	1	1.31mi
2204 Assumption St Eugene, OR	4.0	2.0	1488	$2,300	$1.55	21d	1	1.38mi
1190 Taft St Unit 1190 Eugene, OR	3.0	1.0	1116	$1,650	$1.48	21d	1	1.44mi
4175 Quest Dr Eugene, OR	1.0–3.0	1.0–2.0	983	$2,095	$2.13	13d	6	1.46mi

Listing history 21 events

1. 2026-06-18
   days on market $97,000 Active 29 DOM
2. 2026-06-17
   days on market $97,000 Active 28 DOM
3. 2026-06-16
   days on market $97,000 Active 27 DOM
4. 2026-06-15
   days on market $97,000 Active 26 DOM
5. 2026-06-14
   days on market $97,000 Active 24 DOM
6. 2026-06-10
   days on market $97,000 Active 21 DOM
7. 2026-06-09
   days on market $97,000 Active 20 DOM
8. 2026-06-08
   days on market $97,000 Active 19 DOM
9. 2026-06-07
   days on market $97,000 Active 18 DOM
10. 2026-06-03
    days on market $97,000 Active 14 DOM
11. 2026-06-02
    days on market $97,000 Active 13 DOM
12. 2026-06-01
    days on market $97,000 Active 12 DOM
13. 2026-05-31
    days on market $97,000 Active 11 DOM
14. 2026-05-30
    days on market $97,000 Active 10 DOM
15. 2026-05-21
    listed $97,000 Active
16. 2025-09-26
    soldstatus $26,000 Closed 720-char remark

    Show marketing remark (720 chars)

    Royal Oaks all ages community, space #11. 1980 Fleetwood Mojave Series manufactured home offering 3 bedrooms, 2 bathrooms, and 924 sq. ft. of living space. The open great room layout provides a functional flow, complemented by ductless heating and cooling. Kitchen includes all appliances. The split-bedroom floor plan offers privacy with bedrooms located on opposite ends of the home. Exterior features include a private yard with mature landscaping, ideal for gardening or outdoor living. Community amenities include an inground pool, clubhouse, and playground. Royal Oaks is an all-ages community conveniently located near shopping, schools, and services. Inquire about community approval requirements and space rent.

17. 2025-09-16
    status Pending 720-char remark

    Show marketing remark (720 chars)

    Royal Oaks all ages community, space #11. 1980 Fleetwood Mojave Series manufactured home offering 3 bedrooms, 2 bathrooms, and 924 sq. ft. of living space. The open great room layout provides a functional flow, complemented by ductless heating and cooling. Kitchen includes all appliances. The split-bedroom floor plan offers privacy with bedrooms located on opposite ends of the home. Exterior features include a private yard with mature landscaping, ideal for gardening or outdoor living. Community amenities include an inground pool, clubhouse, and playground. Royal Oaks is an all-ages community conveniently located near shopping, schools, and services. Inquire about community approval requirements and space rent.

18. 2025-09-05
    listed $35,000 Active 720-char remark

    Show marketing remark (720 chars)

    Royal Oaks all ages community, space #11. 1980 Fleetwood Mojave Series manufactured home offering 3 bedrooms, 2 bathrooms, and 924 sq. ft. of living space. The open great room layout provides a functional flow, complemented by ductless heating and cooling. Kitchen includes all appliances. The split-bedroom floor plan offers privacy with bedrooms located on opposite ends of the home. Exterior features include a private yard with mature landscaping, ideal for gardening or outdoor living. Community amenities include an inground pool, clubhouse, and playground. Royal Oaks is an all-ages community conveniently located near shopping, schools, and services. Inquire about community approval requirements and space rent.

19. 2023-04-10
    soldstatus $77,500 Closed 470-char remark

    Show marketing remark (470 chars)

    If you enjoy a peaceful, park like setting, this is the home for you! Recent updates include LVP flooring, granite counters, tile backsplash, kitchen cabinets, bathroom double vanities and ductless heat pump. Storage in the dining room and inside each closet as well! The pool has been resurfaced and is ready for the upcoming season along with the community bbq's that are scheduled to bring the neighborhood together. We look forward to you calling this your new home.

20. 2023-03-24
    status Pending 470-char remark

    Show marketing remark (470 chars)

    If you enjoy a peaceful, park like setting, this is the home for you! Recent updates include LVP flooring, granite counters, tile backsplash, kitchen cabinets, bathroom double vanities and ductless heat pump. Storage in the dining room and inside each closet as well! The pool has been resurfaced and is ready for the upcoming season along with the community bbq's that are scheduled to bring the neighborhood together. We look forward to you calling this your new home.

21. 2023-03-04
    listed $80,000 Active 470-char remark

    Show marketing remark (470 chars)

    If you enjoy a peaceful, park like setting, this is the home for you! Recent updates include LVP flooring, granite counters, tile backsplash, kitchen cabinets, bathroom double vanities and ductless heat pump. Storage in the dining room and inside each closet as well! The pool has been resurfaced and is ready for the upcoming season along with the community bbq's that are scheduled to bring the neighborhood together. We look forward to you calling this your new home.

ⓘ 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 ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 13 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,458
• − Mortgage interest: −$5,434
• − Property taxes: −$1,455
• − Insurance: −$485
• − Repairs & maintenance: −$2,037
• − Management: −$2,037
• − Depreciation: −$2,822
• Taxable income: $11,189
• Est. tax owed @ 24.0%: −$2,685
• After-tax cash flow: $9,382/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 · 1 photo

Poor 20/100 Extensive rehab

This manufactured home requires extensive repairs and updates to its exterior, interior, and HVAC systems, significantly impacting its value. Immediate action is needed to address these issues and improve its condition.

Repairs flagged

• Major exterior siding — Worn and peeling
• Major roof — No photos of roof
• Major interior walls/paint — No photos of interior walls/paint
• Major windows — No photos of windows
• Major HVAC/mechanicals — No photos of HVAC/mechanicals
• Major landscaping/curb appeal — No photos of landscaping/curb appeal

Value-add opportunities

• Both exterior siding replacement — Improves curb appeal and structural integrity
• Both roof replacement — Essential for long-term durability and water resistance
• Both interior painting — Enhances interior aesthetics and value
• Both window replacement — Improves energy efficiency and curb appeal
• Both HVAC system upgrade — Enhances comfort and energy efficiency
• Both landscaping and curb appeal — Enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Worn and peeling	Major	$15,000–50,000
roof · No photos of roof	Major	$15,000–50,000
interior walls/paint · No photos of interior walls/paint	Major	$15,000–50,000
windows · No photos of windows	Major	$15,000–50,000
HVAC/mechanicals · No photos of HVAC/mechanicals	Major	$15,000–50,000
landscaping/curb appeal · No photos of landscaping/curb appeal	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both exterior siding replacement — Improves curb appeal and structural integrity ↑
• Both roof replacement — Essential for long-term durability and water resistance ↑
• Both interior painting — Enhances interior aesthetics and value ↑
• Both window replacement — Improves energy efficiency and curb appeal ↑
• Both HVAC system upgrade — Enhances comfort and energy efficiency ↑
• Both landscaping and curb appeal — Enhances curb appeal and property 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: Bethel SD 52
• NCES district ID: 4102040
• Math proficiency: 18% ▼ -14.00%
• Reading proficiency: 34% ▼ -14.00%
• Median HH income: $47,860
• Composite: 22.62/100
• National rank: #8066
• State rank: #52 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): 53,823
• Household income: $57,658
• Rent vs Own: 49.3% rent · 50.7% own
• Severe rent burden: 3142.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 17% Two or more races 11% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Italian 4% Lithuanian 3% Portuguese 3%
• Foreign-born: 7% · Canada, China, Vietnam
• Languages at home: 88% English-only · Spanish 9% Other Indo-European 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: ▼ -437.20%
• Current HPI: 298.1167
• Rent YoY: ▲ 1.58%
• 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

+21.2% since first listed

7 events — show timeline

• 2026-05-21 Listed $97,000 FSBO.com
• 2025-09-26 Sold (MLS) $26,000 RMLS
• 2025-09-16 Pending — RMLS
• 2025-09-05 Listed $35,000 RMLS
• 2023-04-10 Sold (MLS) $77,500 RMLS
• 2023-03-24 Pending — RMLS
• 2023-03-04 Listed $80,000 RMLS