205 S 54th St #11 · Springfield, OR 97478

$12,500

2 bd · 1.5 ba · 840 sqft · Manufactured public records · 592 Days on market

Built 1972 $15/sqft · 77% below area

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.2/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 2 bedroom, 1.5 bath located in the vibrant Chalet Village, 55+ community welcomes you home! The main living areas feature an open concept plan with new flooring, the kitchen has ample storage and a buffet area perfect for entertaining or casual dining. Enjoy year round comfort with the ductless heat pump, and enjoy the outdoors on the covered deck. Chalet Village residents enjoy access to a clubhouse, dining hall, billiards room, TV lounge, sauna, and a seasonal outdoor pool. Located near shopping, dining, and entertainment, this home combines community living with everyday convenience.

Key facts

• Brand-new flooring
• Manufactured home
• Desirable 55+ park

Tags

• MANUFACTURED HOME
• BRAND-NEW FLOORING
• DESIRABLE 55+ PARK
• VIBRANT COMMUNITY AMENITIES

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $12k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $12k).
• Recommended offer: $11k (12.0% below list) — sets the bar for market timing.
• Cap rate 112.6% vs local median 3.0% in Springfield — 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 83/100 on livability (#40 in OR, #934 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: schools D+, crime D+, employment D+.
• Springfield SD 19 (suburban): math 19% / reading 38% proficiency, ranked #48 of 58 in OR (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+3.4%/yr); 263 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 47% 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 $86 of loan paydown is wiped out by about $375 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 + 3.4% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 592 days — a 12% lower offer ($11k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 26y ago; this cycle's ask has dropped $22k (64%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $10k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $11,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 592 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 1972 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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. 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?
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: 12.09% ✓
• Cap rate: 112.58%
• Cash-on-cash: 379.59%
• DSCR: 17.89
• GRM: 0.7

CMA / ARV

• ARV (median comp): $55,000
• List price: $12,500
• Delta: -77.27%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
205 S 54th St #117	0.00mi	2/2.0	800 (-5%)	8mo	$9,000	$11	84
205 S 54th St #35	0.00mi	2/2.0	880 (+5%)	14mo	$35,500	$40	78
5335 Main St #187	0.16mi	2/1.0	784 (-7%)	2mo	$55,000	$70	78
205 S 54th St #64	0.00mi	2/2.0	924 (+10%)	8mo	$30,000	$32	75
205 S 54th St #115	0.00mi	2/2.0	924 (+10%)	9mo	$39,000	$42	74
5335 Main St #229	0.16mi	2/1.0	896 (+7%)	8mo	$27,650	$31	73
205 S 54th St #108	0.00mi	2/1.0	728 (-13%)	8mo	$60,000	$82	70
5335 Main St #34	0.16mi	2/1.0	728 (-13%)	0mo	$29,900	$41	68
5335 Daisy St #131	0.28mi	2/1.0	924 (+10%)	3mo	$40,000	$43	66
5179 Daisy St	0.35mi	2/2.0	924 (+10%)	9mo	$250,000	$271	57
5660 Daisy St #44	0.19mi	2/1.0	960 (+14%)	10mo	$258,000	$269	57
621 S 57th Pl	0.32mi	3/2.0 (+1)	936 (+11%)	7mo	$250,000	$267	54

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 · 3.38% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 20.74×
• Total profit: $69,091
• Equity at exit: $1,864

10-year hold

• IRR: —
• Equity multiple: 44.84×
• Total profit: $153,452
• Equity at exit: $1,081

Cash invested: $3,500 (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 97478

• Rents YoY: 3.4%
• Active inventory: 263
• Price-to-rent: 0.7×

Monthly cashflow live

• Estimated rent: $1,511 high
• Mortgage (P&I): −$66
• Tax est. 1.5%: −$16 /mo · $188/yr
• Insurance: −$5
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $1,107

Break-even live

Break-even rent $109

Max offer price $12,500

Occupancy floor 22%

Sensitivity live

Price	-10% $1,116	-5% $1,111	+0% $1,107	+5% $1,103	+10% $1,099
Rent	-10% $988	-5% $1,047	+0% $1,107	+5% $1,167	+10% $1,226
Rate	-1.0pp $1,113	-0.5pp $1,110	base $1,107	+0.5pp $1,104	+1.0pp $1,101

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: $3,125
• Closing costs: $375
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
176 S 53rd St Unit 04 Springfield, OR	2.0	1.5	971	$1,250	$1.29	44d	1	0.22mi
5312 Main St Unit 14 Springfield, OR	2.0	1.0	780	$1,199	$1.54	44d	1	0.26mi
5312 Main St Unit 13 Springfield, OR	2.0	1.0	780	$1,299	$1.67	44d	1	0.26mi
421 S 58th St Unit 00136 Springfield, OR	2.0	1.0	1100	$1,600	$1.45	14d	1	0.38mi
5817 Aster St Apt 3 Springfield, OR	2.0	1.5	1000	$1,295	$1.29	14d	1	0.42mi
4830 Elderberry Loop Springfield, OR	2.0	1.0	950	$1,595	$1.68	44d	1	0.66mi
4885 Aster St Springfield, OR	2.0	1.5	1000	$1,734	$1.73	14d	18	0.75mi
4800 B St Springfield, OR	2.0	2.0	968	$1,662	$1.72	14d	1	0.80mi
5040 E St #12 Springfield, OR	3.0	1.0	912	$1,895	$2.08	44d	1	0.81mi
5040 E St #1 Springfield, OR	3.0	1.0	1000	$1,895	$1.90	14d	1	0.81mi
5040 E St #21 Springfield, OR	3.0	1.0	1000	$1,795	$1.79	14d	1	0.81mi
1075 56th Pl Springfield, OR	3.0	1.0	904	$1,795	$1.99	44d	1	0.86mi
274 S 47th St Unit B Springfield, OR	2.0	1.0	940	$1,150	$1.22	21d	1	0.94mi
5580 High Banks Rd Springfield, OR	2.0	1.0	800	$1,590	$1.99	44d	1	0.96mi
4625 Main St Unit 8 Springfield, OR	2.0	1.0	650	$1,250	$1.92	14d	1	1.03mi

Listing history 18 events

1. 2026-06-09
   days on market $12,500 Active 592 DOM
2. 2026-06-08
   days on market $12,500 Active 591 DOM
3. 2026-06-07
   days on market $12,500 Active 590 DOM
4. 2026-06-03
   days on market $12,500 Active 586 DOM
5. 2026-06-02
   days on market $12,500 Active 585 DOM
6. 2026-06-01
   days on market $12,500 Active 584 DOM
7. 2026-05-31
   days on market $12,500 Active 583 DOM
8. 2026-05-30
   days on market $12,500 Active 582 DOM
9. 2026-02-19
   price $12,500 598-char remark

   Show marketing remark (598 chars)

   This 2 bedroom, 1.5 bath located in the vibrant Chalet Village, 55+ community welcomes you home! The main living areas feature an open concept plan with new flooring, the kitchen has ample storage and a buffet area perfect for entertaining or casual dining. Enjoy year round comfort with the ductless heat pump, and enjoy the outdoors on the covered deck. Chalet Village residents enjoy access to a clubhouse, dining hall, billiards room, TV lounge, sauna, and a seasonal outdoor pool. Located near shopping, dining, and entertainment, this home combines community living with everyday convenience.

10. 2026-02-19
    price $15,000 598-char remark

    Show marketing remark (598 chars)

    This 2 bedroom, 1.5 bath located in the vibrant Chalet Village, 55+ community welcomes you home! The main living areas feature an open concept plan with new flooring, the kitchen has ample storage and a buffet area perfect for entertaining or casual dining. Enjoy year round comfort with the ductless heat pump, and enjoy the outdoors on the covered deck. Chalet Village residents enjoy access to a clubhouse, dining hall, billiards room, TV lounge, sauna, and a seasonal outdoor pool. Located near shopping, dining, and entertainment, this home combines community living with everyday convenience.

11. 2025-10-09
    price $19,900 598-char remark

    Show marketing remark (598 chars)

    This 2 bedroom, 1.5 bath located in the vibrant Chalet Village, 55+ community welcomes you home! The main living areas feature an open concept plan with new flooring, the kitchen has ample storage and a buffet area perfect for entertaining or casual dining. Enjoy year round comfort with the ductless heat pump, and enjoy the outdoors on the covered deck. Chalet Village residents enjoy access to a clubhouse, dining hall, billiards room, TV lounge, sauna, and a seasonal outdoor pool. Located near shopping, dining, and entertainment, this home combines community living with everyday convenience.

12. 2025-07-04
    price $22,500 598-char remark

    Show marketing remark (598 chars)

    This 2 bedroom, 1.5 bath located in the vibrant Chalet Village, 55+ community welcomes you home! The main living areas feature an open concept plan with new flooring, the kitchen has ample storage and a buffet area perfect for entertaining or casual dining. Enjoy year round comfort with the ductless heat pump, and enjoy the outdoors on the covered deck. Chalet Village residents enjoy access to a clubhouse, dining hall, billiards room, TV lounge, sauna, and a seasonal outdoor pool. Located near shopping, dining, and entertainment, this home combines community living with everyday convenience.

13. 2025-06-03
    price $25,000 598-char remark

    Show marketing remark (598 chars)

    This 2 bedroom, 1.5 bath located in the vibrant Chalet Village, 55+ community welcomes you home! The main living areas feature an open concept plan with new flooring, the kitchen has ample storage and a buffet area perfect for entertaining or casual dining. Enjoy year round comfort with the ductless heat pump, and enjoy the outdoors on the covered deck. Chalet Village residents enjoy access to a clubhouse, dining hall, billiards room, TV lounge, sauna, and a seasonal outdoor pool. Located near shopping, dining, and entertainment, this home combines community living with everyday convenience.

14. 2025-03-21
    price $29,000 598-char remark

    Show marketing remark (598 chars)

    This 2 bedroom, 1.5 bath located in the vibrant Chalet Village, 55+ community welcomes you home! The main living areas feature an open concept plan with new flooring, the kitchen has ample storage and a buffet area perfect for entertaining or casual dining. Enjoy year round comfort with the ductless heat pump, and enjoy the outdoors on the covered deck. Chalet Village residents enjoy access to a clubhouse, dining hall, billiards room, TV lounge, sauna, and a seasonal outdoor pool. Located near shopping, dining, and entertainment, this home combines community living with everyday convenience.

15. 2025-02-11
    price $32,500 598-char remark

    Show marketing remark (598 chars)

    This 2 bedroom, 1.5 bath located in the vibrant Chalet Village, 55+ community welcomes you home! The main living areas feature an open concept plan with new flooring, the kitchen has ample storage and a buffet area perfect for entertaining or casual dining. Enjoy year round comfort with the ductless heat pump, and enjoy the outdoors on the covered deck. Chalet Village residents enjoy access to a clubhouse, dining hall, billiards room, TV lounge, sauna, and a seasonal outdoor pool. Located near shopping, dining, and entertainment, this home combines community living with everyday convenience.

16. 2024-10-25
    listed $34,500 Active 598-char remark

    Show marketing remark (598 chars)

    This 2 bedroom, 1.5 bath located in the vibrant Chalet Village, 55+ community welcomes you home! The main living areas feature an open concept plan with new flooring, the kitchen has ample storage and a buffet area perfect for entertaining or casual dining. Enjoy year round comfort with the ductless heat pump, and enjoy the outdoors on the covered deck. Chalet Village residents enjoy access to a clubhouse, dining hall, billiards room, TV lounge, sauna, and a seasonal outdoor pool. Located near shopping, dining, and entertainment, this home combines community living with everyday convenience.

17. 2000-10-16
    soldstatus $10,000 238-char remark

    Show marketing remark (238 chars)

    SELLING AGT MUST HAVE OR DMV LIC. VERY NICE MH IN PARK,RENT IS $295MO. BUYER MUST MAKE APPLICATION & BE APPROVED BY PARK. PARK MANY AMENITIES (CLUBHSE,POOL,SPA) 55+ OLDER PARK.WLK TO GROCERY STORE,& OTHER SHOPPING. OWC W/LOW DOWN.

18. 2000-09-22
    listed $11,900 238-char remark

    Show marketing remark (238 chars)

    SELLING AGT MUST HAVE OR DMV LIC. VERY NICE MH IN PARK,RENT IS $295MO. BUYER MUST MAKE APPLICATION & BE APPROVED BY PARK. PARK MANY AMENITIES (CLUBHSE,POOL,SPA) 55+ OLDER PARK.WLK TO GROCERY STORE,& OTHER SHOPPING. OWC W/LOW DOWN.

ⓘ 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 ≥91°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: $18,129
• − Mortgage interest: −$700
• − Property taxes: −$188
• − Insurance: −$62
• − Repairs & maintenance: −$1,450
• − Management: −$1,450
• − Depreciation: −$364
• Taxable income: $13,915
• Est. tax owed @ 24.0%: −$3,340
• After-tax cash flow: $9,946/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: Springfield SD 19
• NCES district ID: 4111670
• Math proficiency: 19% ▼ -13.00%
• Reading proficiency: 38% ▼ -10.00%
• Median HH income: $42,236
• Composite: 24.14/100
• National rank: #7746
• State rank: #48 of 58 in OR

Livability — Springfield

• Score: 83/100
• State rank: #40
• US rank: #934

Category grades

Amenities A+ Commute A+ Cost of living A- Crime D+ Employment D+ Housing A+ Health & safety A+ User ratings D+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Springfield, OR
• County: Lane County · 310,476 people
• City population: 76,907
• Metro: Eugene-Springfield, OR
• Population (ZIP): 39,373
• Household income: $80,086
• Rent vs Own: 31.0% rent · 69.0% own
• Severe rent burden: 904.0

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 12% Two or more races 9% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Slovak 4% Lithuanian 3% Portuguese 3%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 5% Tagalog/Filipino 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: ▼ -395.83%
• Current HPI: 302.9203
• Rent YoY: ▲ 3.38%
• 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

+5.0% since first listed

10 events — show timeline

• 2026-02-19 Price Changed $12,500 WVMLS
• 2026-02-19 Price Changed $15,000 WVMLS
• 2025-10-09 Price Changed $19,900 WVMLS
• 2025-07-04 Price Changed $22,500 WVMLS
• 2025-06-03 Price Changed $25,000 WVMLS
• 2025-03-21 Price Changed $29,000 WVMLS
• 2025-02-11 Price Changed $32,500 WVMLS
• 2024-10-25 Listed $34,500 WVMLS
• 2000-10-16 Sold (MLS) $10,000 RMLS
• 2000-09-22 Listed $11,900 RMLS

Property tax history

-42.4%/yr

Latest (2015): $6 · +0.0% YoY. Source: county tax records.