3220 Crescent Ave #18 · Eugene, OR 97408

$235,000

3 bd · 2.0 ba · 1,512 sqft · Manufactured public records · 6 Days on market

Built 2004 Est $246k · at est.

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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 +24.4/30.0
• ARV discount +9.6/15.0
• DSCR +7.9/10.0
• 1% rule +5.4/10.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Now available in North Gilham’s highly sought after Summer Oaks 55+ gated community. Tucked away on a quiet cul de sac, this beautifully maintained home offers the perfect blend of comfort, functionality, and pride of ownership. Inside, you’ll find 2 bedrooms plus a third non conforming room that works perfectly as an office, sewing room, hobby space, or additional bedroom. The layout offers great separation of space, with the primary suite privately situated on one side of the home and the additional rooms on the opposite side for added balance and privacy. Step inside to a spacious formal living room that flows into the kitchen, second living area, and dining space, creating a

Key facts

• Quiet cul de sac
• Non conforming room
• 2 garage spots

Tags

• SUMMER OAKS GATED COMMUNITY
• QUIET CUL DE SAC
• NON CONFORMING ROOM
• SPACIOUS FORMAL LIVING ROOM
• EASY ACCESS WALK IN SHOWER
• OVERSIZED TWO CAR GARAGE

Property features AI

Finance

• Other: R-1 zoning; Property listed as residential, manufactured home in park
• Financial info: Monthly lot rent of $1,252; Land lease expires June 30, 2026
• HOA & community: Located in the Summer Oaks park; Land lease (monthly lot rent)

Exterior

• Parking: Attached 2-car garage; Total parking for 2 vehicles
• Utilities: Electric fuel; Public water; Public sewer
• Home design: Manufactured home in park; Single-story (main level living); Resale condition; Built in 2004
• Construction: T-111 siding construction; Composition roof; Built in 2004
• Exterior features: Composition roof; Patio; T-111 siding; Level lot; Paved road access; Territorial view

Interior

• Kitchen: Dishwasher; Free-standing range; Free-standing refrigerator
• Bedrooms: Primary bedroom (main level); 2nd bedroom (main level); 3rd bedroom (main level)
• Flooring: Laminate flooring; Wall-to-wall carpet
• Bathrooms: Two full bathrooms (both on main level)
• Heating & cooling: Heat pump for heating and cooling
• Interior features: Laminate flooring; Wall-to-wall carpet; Washer and dryer included; Family room; Great room; Dining room; Living room
• Laundry & utility: Washer and dryer included; Electric hot water

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $235k.

Deal economics

• At list price, monthly cash flow is $476 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $235k).
• Cap rate 8.7% 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-.
• Eugene SD 4J (urban): math 45% / reading 55% proficiency, ranked #10 of 58 in OR (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Gilham Elementary School (math 54% / reading 54%, grade C, #79 of 412 statewide, top 21%, 584 students, 36% FRL); Cal Young Middle School (math 32% / reading 52%, grade D-, #38 of 128 statewide, top 31%, 494 students, 48% FRL); Sheldon High School (math 70% / reading 70%, grade B, #14 of 143 statewide, top 10%, 1,525 students, 37% FRL) — zoned schools at 40% FRL track the district average.
• Market conditions: Rents rising (+4.0%/yr); 100 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $235,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.04% ✓
• Cap rate: 8.72%
• Cash-on-cash: 8.68%
• DSCR: 1.39
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $246,456
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3220 Crescent Ave #38	0.00mi	3/2.0	1,512 (0%)	20mo	$239,000	$158	83
3220 Crescent Ave #48	0.00mi	2/2.0 (-1)	1,499 (-1%)	19mo	$245,000	$163	78
3220 Crescent Ave #89	0.00mi	2/2.0 (-1)	1,600 (+6%)	18mo	$263,000	$164	70
3220 Crescent Ave #78	0.00mi	3/2.0	1,720 (+14%)	16mo	$245,000	$142	64

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 · 3.97% rent growth · sell at horizon

5-year hold

• IRR: -2.2%
• Equity multiple: 0.92×
• Total profit: $-5,416
• Equity at exit: $35,039

10-year hold

• IRR: 8.5%
• Equity multiple: 1.67×
• Total profit: $44,159
• Equity at exit: $20,319

Cash invested: $65,800 (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 97408

• Rents YoY: 4.0%
• Active inventory: 100
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,450 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$129 /mo · $1,546/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$514
• Net cashflow: $476

Break-even live

Break-even rent $1,847

Max offer price $235,000

Occupancy floor 76%

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2733 Shadow View Dr Eugene, OR	2.0	1.0–2.0	847	$2,715	$3.21	13d	11	0.19mi
2850 Shadow View Dr Eugene, OR	1.0–3.0	1.0–3.0	1172	$2,570	$2.19	13d	23	0.28mi
2847 Tennyson Ave Eugene, OR	3.0	1.0–2.0	902	$2,515	$2.79	13d	8	0.56mi
2754 Chad Dr Eugene, OR	3.0	2.0	1381	$2,295	$1.66	43d	1	0.65mi
53 Hillview 1 Unit 1 Eugene, OR	3.0	2.5	1550	$2,595	$1.67	13d	1	0.66mi
2940 Matt Dr Eugene, OR	3.0	2.0	1438	$2,500	$1.74	43d	1	0.76mi
1740 Adkins St Eugene, OR	2.0	1.0	1044	$1,850	$1.77	13d	8	0.79mi
2459 Lakeview Dr Eugene, OR	1.0–3.0	1.0–2.0	966	$2,039	$2.11	13d	24	0.85mi
2545 Benson Ln Eugene, OR	3.0	2.0	1340	$2,400	$1.79	43d	1	1.01mi
2310 Snelling Dr Eugene, OR	3.0	2.0	1400	$2,395	$1.71	13d	1	1.01mi
2423 Benson Ln Eugene, OR	3.0	2.0	1525	$2,800	$1.84	21d	1	1.04mi
3120 Van Ave Eugene, OR	2.0	1.5	1104	$1,695	$1.54	13d	4	1.14mi
1877 Brewer Ave Eugene, OR	3.0–4.0	1.0–1.5	1102	$1,649	$1.50	13d	2	1.42mi
2517 Quebec St Eugene, OR	3.0	2.0	1246	$2,195	$1.76	43d	1	1.48mi
1981 Margaret St Eugene, OR	3.0	2.0	1600	$2,495	$1.56	43d	1	1.50mi

Listing history 1 events

1. 2026-05-21
   listed $235,000 Active

ⓘ 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: $1,546 · $129/mo
• Projected year-2 tax: $2,280 · $190/mo
• Expected delta: +$733/yr (+$61/mo · 47.4%)

ⓘ 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 4/10 Moderate
• 🌡 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: $29,394
• − Mortgage interest: −$13,164
• − Property taxes: −$1,546
• − Insurance: −$1,175
• − Repairs & maintenance: −$2,352
• − Management: −$2,352
• − Depreciation: −$6,836
• Taxable income: $1,970
• Est. tax owed @ 24.0%: −$473
• After-tax cash flow: $5,239/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: Eugene SD 4J
• NCES district ID: 4104740
• Math proficiency: 45% ▼ -2.00%
• Reading proficiency: 55% ▼ -4.00%
• Median HH income: $43,688
• Composite: 42.15/100
• National rank: #3302
• State rank: #10 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): 15,420
• Household income: $104,945
• Rent vs Own: 34.9% rent · 65.1% own
• Severe rent burden: 402.0

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 (77%)
• Race & ethnicity: White 77% Two or more races 11% Hispanic / Latino 9% Asian 4% Black 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Slovak 5% Lithuanian 5% Portuguese 4%
• Foreign-born: 7% · Canada, China, South Korea
• Languages at home: 91% English-only · Spanish 4% French/Haitian/Cajun 1% Chinese 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: ▼ -196.97%
• Current HPI: 286.5805
• Rent YoY: ▲ 3.97%
• 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

1 event — show timeline

• 2026-05-21 Listed $235,000 RMLS

Property tax history

+0.9%/yr

Latest (2025): $1,546 · +1.3% YoY. Source: county tax records.