4900 Royal Ave #105 · Eugene, OR 97402

$149,500

3 bd · 2.0 ba · 1,512 sqft · Manufactured public records · 199 Days on market

Built 2024 Good condition $99/sqft · 6% above area Est $134k · 11% over ↓ 6% since listing

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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
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +2.9/5.0
• ARV discount +2.4/15.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This brand new, move-in ready home in the Royal Oaks community offers an exceptional homeownership opportunity. Thoughtfully designed, this open-concept floor plan is bright and airy with ample windows and tall 8’ ceilings. The elegant kitchen features Samsung® stainless steel appliances, abundant cabinet storage, and a large island—perfect for both cooking and entertaining. The primary bedroom includes a walk-in closet, while the spacious en-suite bath boasts double sinks and a fiberglass shower with glass doors. Throughout the home, hardwood cabinets, LED can lighting, and Pfister® faucets elevate the design. Enjoy year-round comfort with an Ecobee® smart thermostat and furnace, which is pre-wired and ready for a heatpump. The Royal Oaks community offers a low-maintenance lifestyle with amenities such as swimming pool, club-house, optional gated RV Storage, basketball court, and playground. This community is a welcoming environment for all ages, and pets are allowed with park approval.

Key facts

• Double sinks
• Elegant kitchen
• Walk-in closet

Tags

• OPEN-CONCEPT FLOOR PLAN
• ELEGANT KITCHEN
• LARGE ISLAND
• WALK-IN CLOSET
• SPACIOUS EN-SUITE BATH
• DOUBLE SINKS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $150k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $709 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.0% 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.

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.
• Zoned schools: Prairie Mountain School (math 17% / reading 22%, grade F, #377 of 412 statewide, top 93%, 585 students, 65% FRL); Willamette High School (math 24% / reading 50%, grade F, #85 of 143 statewide, top 61%, 1,516 students, 35% FRL) — zoned schools at 50% FRL track the district average.
• Market conditions: Rents rising (+1.6%/yr); 303 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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).
• At $2,169/mo this rent would consume 45% of the median local household income ($58k/yr) (locally 3142% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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 $42k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 199 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $131,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 199 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.45% ✓
• Cap rate: 11.99%
• Cash-on-cash: 20.34%
• DSCR: 1.90
• GRM: 5.7

CMA / ARV

• ARV (median comp): $134,250
• List price: $149,500
• Delta: 11.36%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4989 Cone Ave	0.26mi	3/2.0	1,512 (0%)	5mo	$355,000	$235	84
5223 Forest Ln	0.27mi	4/2.0 (+1)	1,508 (-0%)	8mo	$355,000	$235	75
1199 N Terry St #195	0.39mi	3/2.0	1,530 (+1%)	7mo	$120,000	$78	74
1199 N Terry St #329	0.39mi	2/2.0 (-1)	1,482 (-2%)	12mo	$111,000	$75	64
4990 Morely Loop	0.43mi	3/2.0	1,608 (+6%)	8mo	$285,000	$177	63
4960 Parsons Ave	0.34mi	2/2.0 (-1)	1,647 (+9%)	6mo	$335,000	$203	59
1199 N Terry St #137	0.39mi	3/2.0	1,296 (-14%)	3mo	$133,000	$103	56
1199 N Terry St #302	0.39mi	2/2.0 (-1)	1,344 (-11%)	7mo	$85,000	$63	52
1199 N Terry St #169	0.39mi	2/2.0 (-1)	1,704 (+13%)	5mo	$135,500	$80	52
4939 Morely Loop	0.41mi	3/2.0	1,296 (-14%)	10mo	$270,000	$208	49
1400 Candlelight Dr #246	0.69mi	3/2.0	1,413 (-6%)	10mo	$195,000	$138	49
5318 Bridgewater Dr	0.75mi	3/2.0	1,690 (+12%)	9mo	$350,000	$207	38

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: 11.0%
• Equity multiple: 1.43×
• Total profit: $17,922
• Equity at exit: $22,291

10-year hold

• IRR: 18.9%
• Equity multiple: 2.47×
• Total profit: $61,668
• Equity at exit: $12,926

Cash invested: $41,860 (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: 303
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $2,169 high
• Mortgage (P&I): −$784
• Tax from tax record: −$158 /mo · $1,890/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $709

Break-even live

Break-even rent $1,271

Max offer price $149,500

Occupancy floor 62%

Sensitivity live

Price	-10% $794	-5% $752	+0% $709	+5% $667	+10% $625
Rent	-10% $538	-5% $624	+0% $709	+5% $795	+10% $881
Rate	-1.0pp $785	-0.5pp $748	base $709	+0.5pp $671	+1.0pp $631

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: $37,375
• Closing costs: $4,485
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
653 Oakwood Dr Eugene, OR	3.0	2.0	1584	$2,400	$1.52	15d	1	0.28mi
4478 Fergus Ave Eugene, OR	3.0	1.5	1120	$1,695	$1.51	45d	1	0.67mi
1625 Hamlet Ln Eugene, OR	3.0	2.5	1548	$2,395	$1.55	23d	1	0.79mi
1635 Hamlet Ln Eugene, OR	3.0	2.5	1548	$2,100	$1.36	15d	1	0.80mi
4057 Concord St Eugene, OR	4.0	1.0	1800	$2,000	$1.11	45d	1	1.12mi
2106 Golden Gardens St Eugene, OR	3.0	1.0	1410	$1,995	$1.41	45d	1	1.24mi
2083 Amirante St Eugene, OR	3.0	2.0	1250	$2,295	$1.84	23d	1	1.29mi
2077 Lemuria St Eugene, OR	4.0	2.0	1400	$1,995	$1.43	45d	1	1.30mi
128 Chase St Eugene, OR	2.0	1.5	1378	$1,895	$1.38	45d	1	1.31mi
2204 Assumption St Eugene, OR	4.0	2.0	1488	$2,300	$1.55	23d	1	1.38mi
1190 Taft St Unit 1190 Eugene, OR	3.0	1.0	1116	$1,650	$1.48	23d	1	1.44mi
4175 Quest Dr Eugene, OR	1.0–3.0	1.0–2.0	983	$2,095	$2.13	15d	6	1.46mi

Listing history 10 events

1. 2026-06-09
   status $149,500 Pending 199 DOM
2. 2026-06-08
   days on market $149,500 Active 199 DOM
3. 2026-06-07
   days on market $149,500 Active 198 DOM
4. 2026-06-03
   days on market $149,500 Active 194 DOM
5. 2026-06-02
   days on market $149,500 Active 193 DOM
6. 2026-06-01
   days on market $149,500 Active 192 DOM
7. 2026-05-31
   days on market $149,500 Active 191 DOM
8. 2026-05-30
   days on market $149,500 Active 190 DOM
9. 2026-05-08
   price $149,500 1026-char remark

   Show marketing remark (1026 chars)

   This brand new, move-in ready home in the Royal Oaks community offers an exceptional homeownership opportunity. Thoughtfully designed, this open-concept floor plan is bright and airy with ample windows and tall 8’ ceilings. The elegant kitchen features Samsung® stainless steel appliances, abundant cabinet storage, and a large island—perfect for both cooking and entertaining. The primary bedroom includes a walk-in closet, while the spacious en-suite bath boasts double sinks and a fiberglass shower with glass doors. Throughout the home, hardwood cabinets, LED can lighting, and Pfister® faucets elevate the design. Enjoy year-round comfort with an Ecobee® smart thermostat and furnace, which is pre-wired and ready for a heatpump. The Royal Oaks community offers a low-maintenance lifestyle with amenities such as swimming pool, club-house, optional gated RV Storage, basketball court, and playground. This community is a welcoming environment for all ages, and pets are allowed with park approval.

10. 2025-11-21
    listed $159,000 Active 1026-char remark

    Show marketing remark (1026 chars)

    This brand new, move-in ready home in the Royal Oaks community offers an exceptional homeownership opportunity. Thoughtfully designed, this open-concept floor plan is bright and airy with ample windows and tall 8’ ceilings. The elegant kitchen features Samsung® stainless steel appliances, abundant cabinet storage, and a large island—perfect for both cooking and entertaining. The primary bedroom includes a walk-in closet, while the spacious en-suite bath boasts double sinks and a fiberglass shower with glass doors. Throughout the home, hardwood cabinets, LED can lighting, and Pfister® faucets elevate the design. Enjoy year-round comfort with an Ecobee® smart thermostat and furnace, which is pre-wired and ready for a heatpump. The Royal Oaks community offers a low-maintenance lifestyle with amenities such as swimming pool, club-house, optional gated RV Storage, basketball court, and playground. This community is a welcoming environment for all ages, and pets are allowed with park approval.

ⓘ 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: $1,890 · $158/mo
• Projected year-2 tax: $1,890 · $158/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 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: $26,025
• − Mortgage interest: −$8,374
• − Property taxes: −$1,890
• − Insurance: −$748
• − Repairs & maintenance: −$2,082
• − Management: −$2,082
• − Depreciation: −$4,349
• Taxable income: $6,500
• Est. tax owed @ 24.0%: −$1,560
• After-tax cash flow: $6,954/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 · 12 photos

Good 80/100 Cosmetic rehab

This move-in ready manufactured home in Royal Oaks offers a bright and airy open-concept floor plan with modern amenities and a smart thermostat.

Value-add opportunities

• Resale Paint exterior siding — Enhances curb appeal and value
• Rental Replace ceiling fan — Improves energy efficiency and comfort

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Enhances curb appeal and value ↑
• Rental Replace ceiling fan — Improves energy efficiency and comfort ↑

ⓘ 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

-6.0% since first listed

2 events — show timeline

• 2026-05-08 Price Changed $149,500 RMLS
• 2025-11-21 Listed $159,000 RMLS