5055 NE Elliott Cir #220 · Corvallis, OR 97330

$185,000

3 bd · 2.0 ba · 1,296 sqft · Manufactured public records · 8 Days on market

Built 2017 Est $148k · 25% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• Schools +4.9/10.0
• Livability +4.1/5.0
• Rent growth +3.9/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful like new home has been gently lived in & is move in ready. Light and bright with neutral colors & generous windows make this house feel like a home. The open kitchen is welcoming, warm & is perfect for hosting family BBQs or events. The large primary bedroom features a walk in closet & spacious primary bathroom. A blank canvas of a yard is fully fenced, with rock pathways, flower beds & a storage shed for all your yard tools. Located on the edge of Knoll Terrace park this feels like country living

Key facts

• Shed
• Heat pump
• Walk-in closet

Tags

• PRIVATE YARD
• HEAT PUMP
• WALK-IN CLOSET
• PATIO AREA
• GARDEN BOX
• SHED

Property features AI

Finance

• Other: Inclusions: refrigerator, range, washer/dryer, and shed; Move-in ready
• HOA & community: Park rent includes sewer, garbage, and cable; All-age park with mature landscaping

Exterior

• Parking: Carport; One garage space
• Utilities: Private/community water district; Septic system; Electric water heater; Park rent includes sewer, garbage, and cable
• Home design: Double-wide manufactured home; Built in 2017; Located in a park setting (Knoll Terrace), not an adults-only park; Home sits at the end of a side street for added privacy
• Construction: Fiber cement siding; Composition roof; Fleetwood model (Eagle 28483S), serial FLE210OR17-1; Size 27x48
• Exterior features: Partially fenced yard; Patio area; Garden box; Shed/outbuilding; Landscaped yard with mature trees

Interior

• Kitchen: Range (included); Dishwasher; Range hood (new in 2026)
• Bedrooms: Primary bedroom on the main level with walk-in closet; Second and third bedrooms on the main level
• Flooring: Laminate flooring (installed 2023)
• Bathrooms: Primary bathroom with tub/shower; Second bathroom with tub/shower
• Heating & cooling: Electric heating; Heat pump (installed 2023); Forced air
• Interior features: High-speed internet access available; Open-concept living area; Disposal included
• Laundry & utility: Washer and dryer included (new in 2026); Electric water heater (new in 2026)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $185k.

Deal economics

• At list price, monthly cash flow is $774 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Cap rate 11.3% vs local median 2.6% in Corvallis — 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 82/100 on livability (#45 in OR, #1,113 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: cost of living F.
• Corvallis SD 509J (urban): math 49% / reading 62% proficiency, ranked #15 of 183 in OR (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Crescent Valley High School (931 students, 19% FRL).
• Market conditions: Rents rising fast (+5.7%/yr); 229 active listings in the ZIP; 116 units permitted in Benton County in 2024 (0 in 5+ unit buildings).
• This rent runs 41% of the median local income ($71k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Benton County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 5.7% rent growth), your $52k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $185,000

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 A-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. 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.
4. 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.
5. 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: 1.30% ✓
• Cap rate: 11.31%
• Cash-on-cash: 17.92%
• DSCR: 1.80
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $147,744
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5055 NE Elliott Cir #8	0.00mi	2/2.0 (-1)	1,344 (+4%)	10mo	$100,000	$74	80
5055 NE Elliott Cir #51	0.00mi	4/2.0 (+1)	1,404 (+8%)	9mo	$160,000	$114	73
5055 NE Elliott Cir #20	0.00mi	3/2.0	1,224 (-6%)	23mo	$174,900	$143	72
5055 Elliot Cir #166	0.00mi	2/2.0 (-1)	1,152 (-11%)	13mo	$75,000	$65	66

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 · 5.74% rent growth · sell at horizon

5-year hold

• IRR: 12.3%
• Equity multiple: 1.50×
• Total profit: $26,029
• Equity at exit: $27,584

10-year hold

• IRR: 23.1%
• Equity multiple: 3.23×
• Total profit: $115,338
• Equity at exit: $15,995

Cash invested: $51,800 (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 97330

• Rents YoY: 5.7%
• Active inventory: 229
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $2,397 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$72 /mo · $869/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$503
• Net cashflow: $774

Break-even live

Break-even rent $1,417

Max offer price $185,000

Occupancy floor 63%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-19
   days on market $185,000 Active 8 DOM
2. 2026-06-18
   days on market $185,000 Active 7 DOM
3. 2026-06-17
   days on market $185,000 Active 6 DOM
4. 2026-06-16
   days on market $185,000 Active 5 DOM
5. 2026-06-15
   days on market $185,000 Active 4 DOM
6. 2026-06-14
   remarks 508-char remark
7. 2026-06-14
   listed $185,000 Active 2 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: $869 · $72/mo
• Projected year-2 tax: $1,794 · $150/mo
• Expected delta: +$926/yr (+$77/mo · 106.6%)

ⓘ 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 · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 12 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,760
• − Mortgage interest: −$10,363
• − Property taxes: −$869
• − Insurance: −$925
• − Repairs & maintenance: −$2,301
• − Management: −$2,301
• − Depreciation: −$5,382
• Taxable income: $6,620
• Est. tax owed @ 24.0%: −$1,589
• After-tax cash flow: $7,696/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: Corvallis SD 509J
• NCES district ID: 4103480
• Math proficiency: 49% ▼ -3.00%
• Reading proficiency: 62% ▼ -1.00%
• Median HH income: $44,820
• Composite: 48.62/100
• National rank: #4584
• State rank: #15 of 183 in OR

Livability — Corvallis

• Score: 82/100
• State rank: #45
• US rank: #1113

Category grades

Amenities A+ Commute A+ Cost of living F Crime C+ Employment C Housing B- Health & safety A+ User ratings D

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Benton County · 98,484 people
• City population: 67,812
• Metro: Corvallis, OR
• Population (ZIP): 43,878
• Household income: $70,742
• Rent vs Own: 48.4% rent · 51.6% own
• Severe rent burden: 3416.0

Population outlook (Benton County) Hauer SSP2

• Today (2025): 96,963 people
• By 2030: 101,658 · +4.8%
• By 2040: 110,157 · +13.6%
• By 2050: 119,275 · +23.0%
• By 2075: 145,172 · +49.7%
• By 2100: 165,349 · +70.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 9% Asian 9% Two or more races 7% Black 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 4% Portuguese 4% Slovak 3%
• Foreign-born: 13% · Canada, China, South Korea
• Languages at home: 84% English-only · Spanish 6% Chinese 3% Korean 2%

Political lean MEDSL · Benton

• 2024 margin: Solid D (+39.6) · D 68.1% · R 28.5% · Other 3.5%
• 2008→2024 swing: +8.1pp toward D · 2008: 31.5pp · 2024: 39.6pp
• All cycles: 2024: D+39.6 2020: D+39.7 2016: D+33.8 2012: D+28.8 2008: D+31.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -420.12%
• Current HPI: 298.7746
• Rent YoY: ▲ 5.74%
• Metro: Corvallis, 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

+8.9% since first listed

5 events — show timeline

• 2026-06-11 Listed $185,000 WVMLS
• 2022-12-16 Sold (MLS) $165,000 WVMLS
• 2022-11-16 Pending — WVMLS
• 2022-10-31 Contingent — WVMLS
• 2022-09-28 Listed $169,900 WVMLS

Property tax history

+3.0%/yr

Latest (2025): $869 · +3.0% YoY. Source: county tax records.