150 N Cleveland St · Eugene, OR 97402

$230,000

3 bd · 1.5 ba · 1,550 sqft · SingleFamily public records · 339 Days on market

Built 1940 0.31 ac lot $148/sqft · 37% below area Est $365k · 37% under

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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 +16.0/30.0
• ARV discount +15.0/15.0
• DSCR +4.9/10.0
• 1% rule +4.4/10.0
• Livability +4.0/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Diamond in the rough. Property features a 4bd, 1.5bth house with nice wood floors, a number of updated windows, and over 3,000sf of out-buildings, shops, covered parking, etc. situated on 0.31 acres. Siding, foundation, and roof all appear to be in good shape. Plumbing is galvanized. Electrical needs repair. Would be a great option for a contractor or someone else looking for a home to fix up with tons of shop space. R-3 zoning + option to package with 0.64ac property to the north. Please reach out to schedule a tour.

Key facts

• Shop space
• Covered parking
• R3 zoning

Tags

• COVERED PARKING
• SHOP SPACE
• R3 ZONING

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $114 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $215k (6.3% below list).
• Recommended offer: $202k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.9% 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; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 1,808 units permitted in Lane County in 2024 (972 in 5+ unit buildings).
• This rent runs 45% 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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 339 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $55k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $74k; list at $230k implies a 211% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $202,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 339 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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 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?
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: 0.94% ✗
• Cap rate: 6.89%
• Cash-on-cash: 2.13%
• DSCR: 1.09
• GRM: 8.9

CMA / ARV

• ARV (median comp): $364,765
• List price: $230,000
• Delta: -36.95%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2537 Wood Ave	0.44mi	3/1.0	1,376 (-11%)	1mo	$362,500	$263	58
120 Knapp Ln	0.49mi	4/2.0 (+1)	1,566 (+1%)	17mo	$367,400	$235	54
2930 Elmira Rd	0.66mi	3/2.0	1,586 (+2%)	11mo	$395,000	$249	54
107 Mayfair Ln	0.49mi	3/2.0	1,452 (-6%)	22mo	$397,500	$274	46
95 Crocker Ln	0.56mi	3/2.0	1,440 (-7%)	23mo	$375,000	$260	41
1435 E Briarcliff Ln	0.69mi	4/2.0 (+1)	1,666 (+8%)	10mo	$449,000	$270	40
440 Wilkie St	0.53mi	2/1.0 (-1)	1,362 (-12%)	18mo	$295,000	$217	33
103 Knapp Ln	0.47mi	4/2.0 (+1)	1,780 (+15%)	23mo	$388,000	$218	28

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: -14.5%
• Equity multiple: 0.49×
• Total profit: $-32,987
• Equity at exit: $34,294

10-year hold

• IRR: -8.3%
• Equity multiple: 0.51×
• Total profit: $-31,319
• Equity at exit: $19,886

Cash invested: $64,400 (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 97402

• Rents YoY: 1.6%
• Active inventory: 297
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,154 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$285 /mo · $3,424/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$452
• Net cashflow: $114

Break-even live

Break-even rent $2,009

Max offer price $230,000

Occupancy floor 90%

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2447 Roosevelt Blvd Unit 3 Eugene, OR	3.0	1.5	1200	$1,695	$1.41	13d	1	0.21mi
346 N Grand St Eugene, OR	3.0	2.0	1100	$2,345	$2.13	21d	1	0.87mi
1082 W 2nd Ave Eugene, OR	3.0	2.0	1100	$2,500	$2.27	13d	1	1.02mi
3358 Richard Ave Eugene, OR	3.0	1.0	1164	$1,995	$1.71	43d	1	1.12mi
1642 Zoe Ave Eugene, OR	3.0	2.5	1395	$2,695	$1.93	21d	1	1.16mi
3466 Royal Ave Eugene, OR	3.0	2.0	1604	$2,550	$1.59	21d	1	1.24mi
435 Alexander Loop Eugene, OR	3.0	1.0–3.0	1274	$3,000	$2.35	43d	1	1.28mi
1612 Fetters Loop Eugene, OR	2.0	1.5	1118	$1,695	$1.52	43d	1	1.42mi

Listing history 19 events

1. 2026-06-18
   days on market $230,000 Active 339 DOM
2. 2026-06-17
   days on market $230,000 Active 338 DOM
3. 2026-06-16
   days on market $230,000 Active 337 DOM
4. 2026-06-15
   days on market $230,000 Active 336 DOM
5. 2026-06-14
   days on market $230,000 Active 334 DOM
6. 2026-06-10
   days on market $230,000 Active 331 DOM
7. 2026-06-09
   days on market $230,000 Active 330 DOM
8. 2026-06-08
   days on market $230,000 Active 329 DOM
9. 2026-06-07
   days on market $230,000 Active 328 DOM
10. 2026-06-03
    days on market $230,000 Active 324 DOM
11. 2026-06-02
    days on market $230,000 Active 323 DOM
12. 2026-06-01
    days on market $230,000 Active 322 DOM
13. 2026-05-31
    days on market $230,000 Active 321 DOM
14. 2026-05-30
    days on market $230,000 Active 320 DOM
15. 2026-02-16
    price $230,000 523-char remark

    Show marketing remark (523 chars)

    Diamond in the rough. Property features a 4bd, 1.5bth house with nice wood floors, a number of updated windows, and over 3,000sf of out-buildings, shops, covered parking, etc. situated on 0.31 acres. Siding, foundation, and roof all appear to be in good shape. Plumbing is galvanized. Electrical needs repair. Would be a great option for a contractor or someone else looking for a home to fix up with tons of shop space. R-3 zoning + option to package with 0.64ac property to the north. Please reach out to schedule a tour.

16. 2026-02-10
    status Active 523-char remark

    Show marketing remark (523 chars)

    Diamond in the rough. Property features a 4bd, 1.5bth house with nice wood floors, a number of updated windows, and over 3,000sf of out-buildings, shops, covered parking, etc. situated on 0.31 acres. Siding, foundation, and roof all appear to be in good shape. Plumbing is galvanized. Electrical needs repair. Would be a great option for a contractor or someone else looking for a home to fix up with tons of shop space. R-3 zoning + option to package with 0.64ac property to the north. Please reach out to schedule a tour.

17. 2025-09-21
    status Active 523-char remark

    Show marketing remark (523 chars)

    Diamond in the rough. Property features a 4bd, 1.5bth house with nice wood floors, a number of updated windows, and over 3,000sf of out-buildings, shops, covered parking, etc. situated on 0.31 acres. Siding, foundation, and roof all appear to be in good shape. Plumbing is galvanized. Electrical needs repair. Would be a great option for a contractor or someone else looking for a home to fix up with tons of shop space. R-3 zoning + option to package with 0.64ac property to the north. Please reach out to schedule a tour.

18. 2025-04-15
    listed $285,000 Active 523-char remark

    Show marketing remark (523 chars)

    Diamond in the rough. Property features a 4bd, 1.5bth house with nice wood floors, a number of updated windows, and over 3,000sf of out-buildings, shops, covered parking, etc. situated on 0.31 acres. Siding, foundation, and roof all appear to be in good shape. Plumbing is galvanized. Electrical needs repair. Would be a great option for a contractor or someone else looking for a home to fix up with tons of shop space. R-3 zoning + option to package with 0.64ac property to the north. Please reach out to schedule a tour.

19. 2000-03-16
    soldstatus $73,889

ⓘ 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: $3,424 · $285/mo
• Projected year-2 tax: $3,424 · $285/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 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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 · 15 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,849
• − Mortgage interest: −$12,884
• − Property taxes: −$3,424
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,068
• − Management: −$2,068
• − Depreciation: −$6,691
• Taxable loss: −$2,435
• Est. tax savings @ 24.0%: +$585
• After-tax cash flow: $1,957/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: 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

+211.3% since first listed

5 events — show timeline

• 2026-02-16 Price Changed $230,000 RMLS
• 2026-02-10 Relisted — RMLS
• 2025-09-21 Relisted — RMLS
• 2025-04-15 Listed $285,000 RMLS
• 2000-03-16 Sold (Public Records) $73,889 Public Records

Property tax history

+2.9%/yr

Latest (2025): $3,424 · +2.6% YoY. Source: county tax records.