2150 Laura St #79 · Springfield, OR 97477

$25,000

2 bd · 2.0 ba · 672 sqft · Manufactured public records · 3 Days on market

Built 1967 Est $28k · 9% under $975/mo HOA · 64% of rent

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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 +11.7/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.2/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Charming and affordable home in Monta Loma's desirable 55+ community, offered at just $25,000! This well-maintained home features 2 bedrooms and 2 full bathrooms, including one with a tub/shower combination and another with a convenient walk-in shower. Enjoy year-round comfort with an efficient ductless heat pump which provides both heating and cooling. The open-concept kitchen and living area create a spacious, inviting feel that maximizes every square foot. Step onto the covered front deck and discover one of the property's standout features—a lush, productive garden filled with fruits and vegetables, perfect for gardeners and fresh-food enthusiasts alike. You'll also enjoy the carp

Key facts

• Carport
• Ductless heat pump
• Covered front deck

Tags

• DUCTLESS HEAT PUMP
• COVERED FRONT DECK
• LUSH PRODUCTIVE GARDEN
• CARPORT
• ADDITIONAL STORAGE SPACE

Property features AI

Finance

• Other: Living area reported as 672 (main level); No view
• Financial info: Land lease (expires December 31, 2026)
• HOA & community: Senior community; Community amenities: commons, library, management office, meeting room, party room; Lot rent $975 monthly

Exterior

• Parking: Carport
• Utilities: Electric fuel; Public water; Public sewer
• Home design: Manufactured home in a park; Residential property; Single-level (main level entry)
• Construction: Built in 1967; Skirting foundation
• Exterior features: Other exterior description; Corner lot

Interior

• Kitchen: Free-standing range; Free-standing refrigerator; Electric hot water
• Bedrooms: Primary bedroom (main level); Second bedroom (main level)
• Bathrooms: 2 full bathrooms (both on main level)
• Heating & cooling: Ductless heating; Mini-split cooling
• Interior features: Family room; Great room; Dining room; Living room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $25k.

Deal economics

• At list price, monthly cash flow is $56 ($677/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $25k).
• Cap rate 9.0% 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: 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.
• Zoned schools: Guy Lee Elementary School (math 15% / reading 15%, grade F, #392 of 412 statewide, top 96%, 347 students, 62% FRL); Hamlin Middle School (math 15% / reading 35%, grade F, #104 of 128 statewide, top 83%, 571 students, 64% FRL); Springfield High School (math 30% / reading 54%, grade F, #64 of 143 statewide, top 46%, 1,317 students, 65% FRL).
• Market conditions: Rents rising fast (+4.8%/yr); 163 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $173 of loan paydown is wiped out by about $750 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 + 4.8% rent growth), your $7k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: HOA is 64% of rent.

Recommended offer $25,000

Questions for the listing agent

1. Built in 1967 — 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 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?
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. 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?
7. 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.
8. 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.
9. 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: 6.10% ✓
• Cap rate: 9.00%
• Cash-on-cash: 9.67%
• DSCR: 1.43
• GRM: 1.4

CMA / ARV

• ARV (on-the-fly): $27,552
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2150 Laura St #13	0.00mi	2/1.0	660 (-2%)	12mo	$18,500	$28	83
2150 Laura St #83	0.00mi	2/1.0	616 (-8%)	0mo	$25,000	$41	82
2150 Laura St #65	0.00mi	2/1.0	734 (+9%)	1mo	$46,000	$63	80
2150 Laura St #91	0.00mi	2/1.0	720 (+7%)	15mo	$18,000	$25	72
2150 Laura St	0.03mi	2/1.0	641 (-5%)	19mo	$14,100	$22	71
2150 Laura St #12	0.00mi	2/1.0	750 (+12%)	10mo	$22,000	$29	68
2150 Laura St #90	0.00mi	2/1.0	725 (+8%)	21mo	$35,000	$48	65
1120 W Fairview Dr #7	0.57mi	3/1.0 (+1)	728 (+8%)	10mo	$53,500	$73	42
1120 W Fairview Dr #8	0.57mi	2/1.0	588 (-12%)	21mo	$43,000	$73	31

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 · 4.81% rent growth · sell at horizon

5-year hold

• IRR: 9.7%
• Equity multiple: 1.43×
• Total profit: $2,989
• Equity at exit: $3,728

10-year hold

• IRR: 25.0%
• Equity multiple: 4.11×
• Total profit: $21,788
• Equity at exit: $2,162

Cash invested: $7,000 (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 97477

• Rents YoY: 4.8%
• Active inventory: 163
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $1,524 high
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $375/yr
• Insurance: −$10
• HOA: −$975
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $56

Break-even live

Break-even rent $1,453

Max offer price $25,000

Occupancy floor 91%

Sensitivity live

Price	-10% $74	-5% $65	+0% $56	+5% $48	+10% $39
Rent	-10% $-64	-5% $-4	+0% $56	+5% $117	+10% $177
Rate	-1.0pp $69	-0.5pp $63	base $56	+0.5pp $50	+1.0pp $43

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
460 Lindale Dr Springfield, OR	1.0–2.0	1.0	770	$1,839	$2.39	14d	9	0.20mi
243 R St Springfield, OR	1.0–3.0	1.0–2.5	867	$1,649	$1.90	44d	6	0.47mi
2555 Gateway St Springfield, OR	2.0	1.0	682	$1,649	$2.42	22d	14	0.61mi
506 W Centennial Blvd Springfield, OR	1.0–3.0	1.0–2.0	1182	$1,684	$1.42	22d	3	0.68mi
1725 N 5th St Unit P-070 Springfield, OR	1.0	1.0	580	$1,395	$2.41	44d	1	0.78mi
1725 5th St Springfield, OR	1.0–2.0	1.0	705	$1,495	$2.12	14d	9	0.84mi
3033 Gateway St Springfield, OR	1.0–2.0	1.0	750	$1,700	$2.27	14d	15	0.85mi
844 Mill St Springfield, OR	1.0	1.0	600	$1,095	$1.82	44d	1	1.02mi
844 Mill St Springfield, OR	2.0	1.0	700	$1,295	$1.85	22d	1	1.02mi
844 Mill St Springfield, OR	1.0	1.0	600	$1,095	$1.82	45d	1	1.02mi
3255 Gateway St Springfield, OR	2.0	1.0	640	$1,535	$2.40	14d	1	1.02mi
650 Mill St Unit 18 Springfield, OR	2.0	1.0	700	$1,095	$1.56	44d	1	1.11mi
243 F St Unit 20 Springfield, OR	2.0	1.0	720	$1,095	$1.52	22d	1	1.17mi
275 S Garden Way Eugene, OR	1.0	1.0	467	$1,479	$3.17	14d	22	1.18mi
745 6th St Springfield, OR	1.0	1.0	710	$1,295	$1.82	22d	1	1.22mi
608 4th St Unit 1 Springfield, OR	1.0	1.0	448	$1,499	$3.35	22d	1	1.22mi
406 4th St Unit 04 Springfield, OR	1.0	1.0	463	$950	$2.05	44d	1	1.33mi

HOA detail

• Monthly dues: $975 · $11,700/yr

Listing history 4 events

1. 2026-06-18
   days on market $25,000 Active 3 DOM
2. 2026-06-17
   days on market $25,000 Active 2 DOM
3. 2026-06-15
   remarks 693-char remark
4. 2026-06-15
   listed $25,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 21% 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 15 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,291
• − Mortgage interest: −$1,400
• − Property taxes: −$375
• − Insurance: −$125
• − Repairs & maintenance: −$1,463
• − Management: −$1,463
• − HOA: −$11,700
• − Depreciation: −$727
• Taxable income: $1,037
• Est. tax owed @ 24.0%: −$249
• After-tax cash flow: $428/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): 37,534
• Household income: $65,662
• Rent vs Own: 47.2% rent · 52.8% own
• Severe rent burden: 1817.0

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% Hispanic / Latino 13% Two or more races 10% Asian 1% Native American 1%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Lithuanian 4% Portuguese 4% Italian 3%
• Foreign-born: 6% · Canada
• Languages at home: 89% English-only · Spanish 9% Other Asian/Pacific 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: ▼ -489.08%
• Current HPI: 299.6863
• Rent YoY: ▲ 4.81%
• 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

• 2026-06-15 Listed $25,000 RMLS

Property tax history

-37.9%/yr

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