5335 Main St #236 · Springfield, OR 97478

$33,000

2 bd · 2.0 ba · 1,080 sqft · Manufactured public records · 350 Days on market

Built 1976 $31/sqft · 53% below area ↓ 25% since listing

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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

Get it while you can! Big price improvement! Welcome to Santiago Estates and your spacious new home! This spacious home has 2 bedrooms and 2 full bathrooms, Built in cabinets in the dining area, lots of natural lighting and a great division of space! Convenient 2 car carport. Santiago estates is a pet-friendly 55+ park with clubhouse, pool and activities. All offers to be reviewed! House to be sold As-Is.

Key facts

• Natural lighting
• Pet friendly park
• Activities

Tags

• BUILT IN CABINETS
• NATURAL LIGHTING
• PET FRIENDLY PARK
• CLUBHOUSE
• POOL
• ACTIVITIES

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $33k.

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 $33k).
• Recommended offer: $29k (12.0% below list) — sets the bar for market timing.
• Cap rate 42.8% 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; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 $228 of loan paydown is wiped out by about $990 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 $9k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 350 days — a 12% lower offer ($29k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $20k (38%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $29,040 (12.0% below list)

Questions for the listing agent

1. It's been on market 350 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 1976 — 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: 4.71% ✓
• Cap rate: 42.83%
• Cash-on-cash: 130.50%
• DSCR: 6.81
• GRM: 1.8

CMA / ARV

• ARV (median comp): $69,975
• List price: $33,000
• Delta: -52.84%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5335 Main St #197	0.00mi	2/2.0	1,200 (+11%)	2mo	$57,000	$48	80
5335 S Main St #155	0.00mi	3/2.0 (+1)	1,188 (+10%)	8mo	$54,000	$45	72
5335 Main St #214	0.00mi	3/2.0 (+1)	1,188 (+10%)	8mo	$74,500	$63	71
569 S 51st Pl	0.31mi	3/2.0 (+1)	1,152 (+7%)	2mo	$275,000	$239	68
5660 Daisy St #48	0.35mi	2/2.0	1,188 (+10%)	1mo	$263,000	$221	66
205 S 54th St #64	0.16mi	2/2.0	924 (-14%)	8mo	$30,000	$32	62
205 S 54th St #109	0.16mi	2/2.0	1,236 (+14%)	9mo	$69,000	$56	61
205 S 54th St #115	0.16mi	2/2.0	924 (-14%)	9mo	$39,000	$42	61
708 51st St	0.64mi	3/2.0 (+1)	1,056 (-2%)	3mo	$288,000	$273	59
5335 Daisy St #131	0.28mi	2/1.0	924 (-14%)	3mo	$40,000	$43	56
5179 Daisy St	0.25mi	2/2.0	924 (-14%)	9mo	$250,000	$271	56
621 S 57th Pl	0.48mi	3/2.0 (+1)	936 (-13%)	7mo	$250,000	$267	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 · 3.38% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.41×
• Total profit: $59,267
• Equity at exit: $4,920

10-year hold

• IRR: —
• Equity multiple: 15.78×
• Total profit: $136,566
• Equity at exit: $2,853

Cash invested: $9,240 (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: 1.8×

Monthly cashflow live

• Estimated rent: $1,554 high
• Mortgage (P&I): −$173
• Tax from tax record: −$36 /mo · $435/yr
• Insurance: −$14
• HOA: −$0
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $1,005

Break-even live

Break-even rent $282

Max offer price $33,000

Occupancy floor 30%

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: $8,250
• Closing costs: $990
• Reserves months: —
• Total cash needed: —

Rent comps 20 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	0.10mi
5312 Main St Unit 14 Springfield, OR	2.0	1.0	780	$1,199	$1.54	44d	1	0.15mi
5312 Main St Unit 13 Springfield, OR	2.0	1.0	780	$1,299	$1.67	44d	1	0.15mi
421 S 58th St Unit 00136 Springfield, OR	2.0	1.0	1100	$1,600	$1.45	14d	1	0.50mi
5817 Aster St Apt 3 Springfield, OR	2.0	1.5	1000	$1,295	$1.29	14d	1	0.51mi
4830 Elderberry Loop Springfield, OR	2.0	1.0	950	$1,595	$1.68	44d	1	0.58mi
4885 Aster St Springfield, OR	2.0	1.5	1000	$1,734	$1.73	14d	18	0.64mi
4800 B St Springfield, OR	2.0	2.0	968	$1,662	$1.72	14d	1	0.69mi
5040 E St #1 Springfield, OR	3.0	1.0	1000	$1,895	$1.90	14d	1	0.69mi
5040 E St #12 Springfield, OR	3.0	1.0	912	$1,895	$2.08	44d	1	0.69mi
5040 E St #21 Springfield, OR	3.0	1.0	1000	$1,795	$1.79	14d	1	0.69mi
1012 53rd St Springfield, OR	3.0	2.0	1249	$2,195	$1.76	14d	1	0.81mi
1075 56th Pl Springfield, OR	3.0	1.0	904	$1,795	$1.99	44d	1	0.83mi
274 S 47th St Unit B Springfield, OR	2.0	1.0	940	$1,150	$1.22	21d	1	0.84mi
5580 High Banks Rd Springfield, OR	2.0	1.0	800	$1,590	$1.99	44d	1	0.91mi
339 S 42nd St Unit 317 Springfield, OR	3.0	2.5	1444	$1,895	$1.31	14d	1	1.31mi
4173 Glacier View Dr Springfield, OR	3.0	2.5	1250	$2,175	$1.74	14d	1	1.40mi
490 67th St Springfield, OR	3.0	2.0	1278	$2,800	$2.19	44d	1	1.44mi
617 S 41st Ct Unit 606 Springfield, OR	3.0	2.5	1500	$2,100	$1.40	14d	1	1.46mi
617 S 41st Ct Unit 610 Springfield, OR	3.0	2.5	1500	$2,050	$1.37	14d	1	1.46mi

Listing history 26 events

1. 2026-06-18
   days on market $33,000 Active 350 DOM
2. 2026-06-17
   price $33,000 Active 349 DOM
3. 2026-06-17
   days on market $34,000 Active 349 DOM
4. 2026-06-16
   days on market $34,000 Active 348 DOM
5. 2026-06-15
   days on market $34,000 Active 347 DOM
6. 2026-06-14
   days on market $34,000 Active 345 DOM
7. 2026-06-10
   pricedays on market $34,000 Active 342 DOM
8. 2026-06-09
   days on market $35,000 Active 341 DOM
9. 2026-06-08
   days on market $35,000 Active 340 DOM
10. 2026-06-07
    days on market $35,000 Active 339 DOM
11. 2026-06-03
    days on market $35,000 Active 335 DOM
12. 2026-06-02
    days on market $35,000 Active 334 DOM
13. 2026-06-01
    days on market $35,000 Active 333 DOM
14. 2026-05-31
    days on market $35,000 Active 332 DOM
15. 2026-05-30
    days on market $35,000 Active 331 DOM
16. 2026-05-06
    price $37,500 414-char remark

    Show marketing remark (414 chars)

    Get it while you can! Big price improvement! Welcome to Santiago Estates and your spacious new home! This spacious home has 2 bedrooms and 2 full bathrooms, Built in cabinets in the dining area, lots of natural lighting and a great division of space! Convenient 2 car carport. Santiago estates is a pet-friendly 55+ park with clubhouse, pool and activities. All offers to be reviewed! House to be sold As-Is.

17. 2025-11-05
    price $40,000 414-char remark

    Show marketing remark (414 chars)

    Get it while you can! Big price improvement! Welcome to Santiago Estates and your spacious new home! This spacious home has 2 bedrooms and 2 full bathrooms, Built in cabinets in the dining area, lots of natural lighting and a great division of space! Convenient 2 car carport. Santiago estates is a pet-friendly 55+ park with clubhouse, pool and activities. All offers to be reviewed! House to be sold As-Is.

18. 2025-10-02
    price $47,500 414-char remark

    Show marketing remark (414 chars)

    Get it while you can! Big price improvement! Welcome to Santiago Estates and your spacious new home! This spacious home has 2 bedrooms and 2 full bathrooms, Built in cabinets in the dining area, lots of natural lighting and a great division of space! Convenient 2 car carport. Santiago estates is a pet-friendly 55+ park with clubhouse, pool and activities. All offers to be reviewed! House to be sold As-Is.

19. 2025-08-01
    price $49,000 414-char remark

    Show marketing remark (414 chars)

    Get it while you can! Big price improvement! Welcome to Santiago Estates and your spacious new home! This spacious home has 2 bedrooms and 2 full bathrooms, Built in cabinets in the dining area, lots of natural lighting and a great division of space! Convenient 2 car carport. Santiago estates is a pet-friendly 55+ park with clubhouse, pool and activities. All offers to be reviewed! House to be sold As-Is.

20. 2025-07-03
    listed $53,000 Active 414-char remark

    Show marketing remark (414 chars)

    Get it while you can! Big price improvement! Welcome to Santiago Estates and your spacious new home! This spacious home has 2 bedrooms and 2 full bathrooms, Built in cabinets in the dining area, lots of natural lighting and a great division of space! Convenient 2 car carport. Santiago estates is a pet-friendly 55+ park with clubhouse, pool and activities. All offers to be reviewed! House to be sold As-Is.

21. 2023-11-06
    soldstatus $48,000 Closed 417-char remark

    Show marketing remark (417 chars)

    Welcome to Santiago Estates! Spacious 2 bed, 2 bath home with built-in cabinets in the dining area and plenty of natural light from large windows. Enjoy a covered deck and patio area surrounded by greenery. Convenient 2-car carport. Pet-friendly 55+ park with clubhouse amenities like billiards, jacuzzi, outdoor pool, bocce ball, and more. Space rent is $950 with RV storage available but not included in space rent.

22. 2023-11-06
    soldstatus $48,000 Sold

    Show marketing remark (417 chars)

    Welcome to Santiago Estates! Spacious 2 bed, 2 bath home with built-in cabinets in the dining area and plenty of natural light from large windows. Enjoy a covered deck and patio area surrounded by greenery. Convenient 2-car carport. Pet-friendly 55+ park with clubhouse amenities like billiards, jacuzzi, outdoor pool, bocce ball, and more. Space rent is $950 with RV storage available but not included in space rent.

23. 2023-10-12
    status Pending 417-char remark

    Show marketing remark (417 chars)

    Welcome to Santiago Estates! Spacious 2 bed, 2 bath home with built-in cabinets in the dining area and plenty of natural light from large windows. Enjoy a covered deck and patio area surrounded by greenery. Convenient 2-car carport. Pet-friendly 55+ park with clubhouse amenities like billiards, jacuzzi, outdoor pool, bocce ball, and more. Space rent is $950 with RV storage available but not included in space rent.

24. 2023-10-12
    historical Active under Contract

    Show marketing remark (417 chars)

    Welcome to Santiago Estates! Spacious 2 bed, 2 bath home with built-in cabinets in the dining area and plenty of natural light from large windows. Enjoy a covered deck and patio area surrounded by greenery. Convenient 2-car carport. Pet-friendly 55+ park with clubhouse amenities like billiards, jacuzzi, outdoor pool, bocce ball, and more. Space rent is $950 with RV storage available but not included in space rent.

25. 2023-10-05
    listed $49,900 Active 417-char remark

    Show marketing remark (417 chars)

    Welcome to Santiago Estates! Spacious 2 bed, 2 bath home with built-in cabinets in the dining area and plenty of natural light from large windows. Enjoy a covered deck and patio area surrounded by greenery. Convenient 2-car carport. Pet-friendly 55+ park with clubhouse amenities like billiards, jacuzzi, outdoor pool, bocce ball, and more. Space rent is $950 with RV storage available but not included in space rent.

26. 2023-10-05
    listed $49,900 Active

    Show marketing remark (417 chars)

    Welcome to Santiago Estates! Spacious 2 bed, 2 bath home with built-in cabinets in the dining area and plenty of natural light from large windows. Enjoy a covered deck and patio area surrounded by greenery. Convenient 2-car carport. Pet-friendly 55+ park with clubhouse amenities like billiards, jacuzzi, outdoor pool, bocce ball, and more. Space rent is $950 with RV storage available but not included in space rent.

ⓘ 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: $435 · $36/mo
• Projected year-2 tax: $435 · $36/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 ≥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: $18,651
• − Mortgage interest: −$1,849
• − Property taxes: −$435
• − Insurance: −$165
• − Repairs & maintenance: −$1,492
• − Management: −$1,492
• − Depreciation: −$960
• Taxable income: $12,259
• Est. tax owed @ 24.0%: −$2,942
• After-tax cash flow: $9,116/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

-24.8% since first listed

11 events — show timeline

• 2026-05-06 Price Changed $37,500 RMLS
• 2025-11-05 Price Changed $40,000 RMLS
• 2025-10-02 Price Changed $47,500 RMLS
• 2025-08-01 Price Changed $49,000 RMLS
• 2025-07-03 Listed $53,000 RMLS
• 2023-11-06 Sold (MLS) $48,000 WVMLS
• 2023-11-06 Sold (MLS) $48,000 RMLS
• 2023-10-12 Pending — RMLS
• 2023-10-12 Contingent — WVMLS
• 2023-10-05 Listed $49,900 WVMLS
• 2023-10-05 Listed $49,900 RMLS

Property tax history

+3.9%/yr

Latest (2025): $435 · +6.0% YoY. Source: county tax records.