1400 Candlelight Dr #104 · Eugene, OR 97402

$77,000

3 bd · 2.0 ba · 1,368 sqft · Manufactured public records · 23 Days on market

Built 1977 Est $141k · 45% under $726/mo HOA · 34% of rent

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Come see the best value in the neighborhood. Enormous covered front deck (rebuilt 2026) greets you with space to relax during warm Oregon afternoons & cool breezy evenings. Brand-new front doorway completely rebuilt, widened & replaced with upgraded full-size, full-width standard residential door and hardware. Matched keys F & B. Interior treated with Kilz primer throughout home & topped w/ fresh new premium paint (in white). New LVP flooring in bathroom and entryway. Cozy warmth from pellet stove provides plenty of radiant heat in winter. Second living room space opposite main living room for added flexibility. Smoke/CO alarms replaced, carpets shampooed, windows spar

Key facts

• Second living room
• Secure storage shed
• Covered front deck

Tags

• COVERED FRONT DECK
• NEW LVP FLOORING
• PELLET STOVE
• SECOND LIVING ROOM
• REBUILD EXTRA-WIDE BACK STEPS
• SECURE STORAGE SHED

Property features AI

Finance

• Other: Residential property classified as a manufactured home in park; Senior community
• Financial info: Property is in a land-lease community (land lease applies; lease expires 12/31/2099); Lot rent $726 per month
• HOA & community: Located in Briarwood Estates (association provides grounds maintenance and management); Monthly association fee of $726; Association amenities: athletic court, basketball court, cable TV, commons, gated access, gym, internet, laundry room, library, maintenance of grounds, management, meeting room, party room, pool, recreation facilities, road maintenance, snow removal, spa/hot tub, tennis courts, weight room; Association parking space number 104 (parking spaces not owned)

Exterior

• Parking: Covered carport (extra deep) — 1 parking space
• Security: Gated community
• Utilities: Public water; Public sewer; Electric service (fuel: electricity); Cable internet available
• Home design: Manufactured home in a park; Single-story (one level); Not attached to another dwelling; Built in 1977; Entry facing not specified
• Construction: Membrane roof; Skirting foundation; Aluminum siding
• Exterior features: Covered deck; Deck; Raised garden beds; Tool shed; Aluminum exterior; Paved road access; Trees; Gated community commons; On bus line; Road maintenance agreement

Interior

• Kitchen: Dishwasher; Disposal; Free-standing range; Range hood; Free-standing refrigerator
• Bedrooms: Primary bedroom on main level; Second bedroom on main level; Third bedroom on main level
• Flooring: Laminate flooring; Wall-to-wall carpet
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Forced air heating; Pellet stove heating; Central air conditioning; Heat pump
• Interior features: High-speed internet; Laminate flooring; Wall-to-wall carpet; Laundry area; Accessible hallway(s); Bathroom cabinets adapted for accessibility; One-level living; Walk-in shower; Vinyl window frames; Pellet stove (fireplace) - 1
• Laundry & utility: Washer and dryer included; Laundry on main level; Electric hot water

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $77k.

Deal economics

• At list price, monthly cash flow is $465 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $77k).
• Recommended offer: $76k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.5% 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.
• Zoned schools: Danebo Elementary School (math 10% / reading 30%, grade F, #358 of 412 statewide, top 89%, 254 students, 65% FRL); Shasta Middle School (math 12% / reading 37%, grade F, #108 of 128 statewide, top 89%, 392 students, 66% FRL); Willamette High School (math 24% / reading 50%, grade F, #85 of 143 statewide, top 61%, 1,516 students, 35% FRL).
• Market conditions: Rents rising (+1.6%/yr); 303 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 44% 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 $532 of loan paydown is wiped out by about $2k 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 $22k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($76k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 34% of rent.

Recommended offer $75,845 (1.5% below list)

Questions for the listing agent

1. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 2.75% ✓
• Cap rate: 13.54%
• Cash-on-cash: 25.89%
• DSCR: 2.15
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $140,904
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1699 N Terry St #225	0.22mi	3/2.0	1,376 (+1%)	5mo	$151,500	$110	85
1699 N Terry St #244	0.22mi	3/2.0	1,352 (-1%)	4mo	$195,000	$144	84
1699 N Terry St #379	0.22mi	3/2.0	1,458 (+7%)	2mo	$145,000	$99	76
1699 N Terry St #43	0.22mi	3/2.0	1,480 (+8%)	1mo	$125,000	$84	75
1400 Candlelight Dr #105	0.00mi	2/2.0 (-1)	1,176 (-14%)	0mo	$107,500	$91	71
1699 N Terry St #142	0.22mi	3/2.0	1,482 (+8%)	6mo	$110,000	$74	70
1199 N Terry St #137	0.39mi	3/2.0	1,296 (-5%)	3mo	$133,000	$103	70
5268 Olympic Cir	0.44mi	3/2.0	1,283 (-6%)	3mo	$333,500	$260	66
1699 N Terry St #152	0.22mi	2/2.0 (-1)	1,496 (+9%)	5mo	$123,000	$82	65
1199 N Terry St #404	0.39mi	3/2.0	1,196 (-13%)	3mo	$89,500	$75	58
5276 Olympic Cir	0.45mi	3/2.0	1,180 (-14%)	4mo	$335,000	$284	53
5330 Elk Ridge Dr	0.43mi	4/2.0 (+1)	1,560 (+14%)	6mo	$365,000	$234	46

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: 17.2%
• Equity multiple: 1.68×
• Total profit: $14,607
• Equity at exit: $11,481

10-year hold

• IRR: 24.2%
• Equity multiple: 2.89×
• Total profit: $40,773
• Equity at exit: $6,658

Cash invested: $21,560 (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: 3.0×

Monthly cashflow live

• Estimated rent: $2,120 high
• Mortgage (P&I): −$404
• Tax from tax record: −$48 /mo · $572/yr
• Insurance: −$32
• HOA: −$726
• Vacancy / Maint / Mgmt: −$445
• Net cashflow: $465

Break-even live

Break-even rent $1,531

Max offer price $77,000

Occupancy floor 73%

Sensitivity live

Price	-10% $509	-5% $487	+0% $465	+5% $443	+10% $422
Rent	-10% $298	-5% $381	+0% $465	+5% $549	+10% $633
Rate	-1.0pp $504	-0.5pp $485	base $465	+0.5pp $445	+1.0pp $425

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: $19,250
• Closing costs: $2,310
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1040 Lamplite Ln Eugene, OR	3.0	1.0	912	$1,895	$2.08	45d	1	0.44mi
1625 Hamlet Ln Eugene, OR	3.0	2.5	1548	$2,395	$1.55	22d	1	0.52mi
1635 Hamlet Ln Eugene, OR	3.0	2.5	1548	$2,100	$1.36	15d	1	0.52mi
2106 Golden Gardens St Eugene, OR	3.0	1.0	1410	$1,995	$1.41	45d	1	0.55mi
2077 Lemuria St Eugene, OR	4.0	2.0	1400	$1,995	$1.43	45d	1	0.68mi
2083 Amirante St Eugene, OR	3.0	2.0	1250	$2,295	$1.84	22d	1	0.70mi
2204 Assumption St Eugene, OR	4.0	2.0	1488	$2,300	$1.55	22d	1	0.75mi
653 Oakwood Dr Eugene, OR	3.0	2.0	1584	$2,400	$1.52	15d	1	0.87mi
4057 Concord St Eugene, OR	4.0	1.0	1800	$2,000	$1.11	45d	1	0.91mi
4175 Quest Dr Eugene, OR	1.0–3.0	1.0–2.0	983	$2,095	$2.13	15d	6	0.92mi
4075 Aerial Way Eugene, OR	1.0–2.0	1.0–2.0	847	$2,155	$2.54	15d	24	1.03mi
4478 Fergus Ave Eugene, OR	3.0	1.5	1120	$1,695	$1.51	45d	1	1.09mi
3700 Riviera Eugene, OR	2.0	2.0	968	$1,662	$1.72	15d	2	1.28mi
1920 Taft St Eugene, OR	3.0	1.5	966	$1,850	$1.92	15d	1	1.33mi
1190 Taft St Unit 1190 Eugene, OR	3.0	1.0	1116	$1,650	$1.48	22d	1	1.35mi
1246 Hughes St Eugene, OR	3.0	2.0	1200	$2,300	$1.92	15d	1	1.39mi

HOA detail

• Monthly dues: $726 · $8,712/yr

Listing history 16 events

1. 2026-06-21
   days on market $77,000 Active 23 DOM
2. 2026-06-18
   days on market $77,000 Active 20 DOM
3. 2026-06-17
   days on market $77,000 Active 19 DOM
4. 2026-06-16
   days on market $77,000 Active 18 DOM
5. 2026-06-15
   days on market $77,000 Active 17 DOM
6. 2026-06-14
   days on market $77,000 Active 15 DOM
7. 2026-06-10
   days on market $77,000 Active 12 DOM
8. 2026-06-09
   days on market $77,000 Active 11 DOM
9. 2026-06-08
   days on market $77,000 Active 10 DOM
10. 2026-06-07
    days on market $77,000 Active 9 DOM
11. 2026-06-03
    days on market $77,000 Active 5 DOM
12. 2026-06-02
    days on market $77,000 Active 4 DOM
13. 2026-06-01
    days on market $77,000 Active 3 DOM
14. 2026-05-31
    days on market $77,000 Active 2 DOM
15. 2026-05-30
    remarks 683-char remark
16. 2026-05-30
    listed $77,000 Active 1 DOM

ⓘ 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: $572 · $48/mo
• Projected year-2 tax: $747 · $62/mo
• Expected delta: +$175/yr (+$15/mo · 30.5%)

ⓘ 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 · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,438
• − Mortgage interest: −$4,313
• − Property taxes: −$572
• − Insurance: −$385
• − Repairs & maintenance: −$2,035
• − Management: −$2,035
• − HOA: −$8,712
• − Depreciation: −$2,240
• Taxable income: $5,145
• Est. tax owed @ 24.0%: −$1,235
• After-tax cash flow: $4,346/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

1 event — show timeline

• 2026-05-29 Listed $77,000 RMLS

Property tax history

+3.8%/yr

Latest (2025): $572 · +2.5% YoY. Source: county tax records.