205 S 54th St #8 · Springfield, OR 97478

$29,000

2 bd · 1.0 ba · 868 sqft · Manufactured public records · 16 Days on market

Built 1971

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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

Affordable opportunity in Chalet Village, a peaceful 55+ community in Springfield. This 2-bedroom, 1-bath manufactured home offers approximately 850 square feet of living space with a spacious living area, attached sunroom, and flexible bonus room ideal for a home office, hobby space, or guest accommodations. Accessibility features include a ramp and one-level living. Community amenities include a swimming pool and recreational facilities. Conveniently located near shopping, dining, and everyday services. Excellent value for those seeking affordable living in a quiet community.

Key facts

• One-level living
• Swimming pool
• Flexible bonus room

Tags

• ATTACHED SUNROOM
• FLEXIBLE BONUS ROOM
• ONE-LEVEL LIVING
• SWIMMING POOL
• RECREATIONAL FACILITIES

Property features AI

Finance

• Other: Lot rent: $1,015 monthly
• Financial info: Land lease in place (monthly lot rent); Land lease expires June 30, 2026
• HOA & community: 55+ park community (Chalet Village); Community amenities include pool, sauna, clubhouse with kitchen and dining hall, TV lounge, pool tables; On-site laundry, management, commons, party room

Exterior

• Parking: Carport; Driveway
• Utilities: Public water; Public sewer; Electric power
• Home design: Manufactured home in a park (residential); Single-story; Mountain views
• Construction: Built in 1971; Marlette manufacturer; Foundation: crawl space
• Exterior features: Tool shed; Yard; Aluminum exterior

Interior

• Kitchen: Dishwasher; Free-standing range
• Bedrooms: Primary bedroom (main level); Second bedroom (main level)
• Flooring: Vinyl; Carpet
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Vinyl flooring; Wall-to-wall carpet; Accessible approach with ramp; One-level living; Crawl space basement
• Laundry & utility: Utility room (main level); Electric hot water

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $29k.

Deal economics

• At list price, monthly cash flow is $995 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $29k).
• Recommended offer: $29k (1.5% below list) — sets the bar for market timing.
• Cap rate 47.5% 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: Mt Vernon Elementary School (math 5% / reading 34%, grade F, #366 of 412 statewide, top 91%, 412 students, 63% FRL); Agnes Stewart Middle School (math 16% / reading 36%, grade F, #101 of 128 statewide, top 80%, 513 students, 63% FRL); Thurston High School (math 22% / reading 52%, grade F, #85 of 143 statewide, top 61%, 1,277 students, 65% FRL).
• Market conditions: Rents rising (+3.4%/yr); 263 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 47% 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 $200 of loan paydown is wiped out by about $870 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 $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($29k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $28,565 (1.5% below list)

Questions for the listing agent

1. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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?
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: 5.22% ✓
• Cap rate: 47.48%
• Cash-on-cash: 147.10%
• DSCR: 7.55
• GRM: 1.6

CMA / ARV

• ARV (on-the-fly): $60,760
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
205 S 54th St #35	0.00mi	2/2.0	880 (+1%)	14mo	$35,500	$40	82
5335 Main St #229	0.16mi	2/1.0	896 (+3%)	8mo	$27,650	$31	80
205 S 54th St #64	0.00mi	2/2.0	924 (+6%)	8mo	$30,000	$32	79
205 S 54th St #115	0.00mi	2/2.0	924 (+6%)	9mo	$39,000	$42	78
205 S 54th St #117	0.00mi	2/2.0	800 (-8%)	8mo	$9,000	$11	76
5335 Main St #187	0.16mi	2/1.0	784 (-10%)	2mo	$55,000	$70	75
5335 Daisy St #131	0.28mi	2/1.0	924 (+6%)	3mo	$40,000	$43	74
5660 Daisy St #44	0.19mi	2/1.0	960 (+11%)	10mo	$258,000	$269	65
5179 Daisy St	0.35mi	2/2.0	924 (+6%)	9mo	$250,000	$271	61
5335 Daisy St #58	0.28mi	2/1.0	784 (-10%)	15mo	$57,000	$73	59
621 S 57th Pl	0.32mi	3/2.0 (+1)	936 (+8%)	7mo	$250,000	$267	58
524 S 53rd St	0.29mi	2/2.0	960 (+11%)	16mo	$190,000	$198	51

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: 8.30×
• Total profit: $59,301
• Equity at exit: $4,324

10-year hold

• IRR: —
• Equity multiple: 17.72×
• Total profit: $135,767
• Equity at exit: $2,507

Cash invested: $8,120 (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: 1.6×

Monthly cashflow live

• Estimated rent: $1,514 high
• Mortgage (P&I): −$152
• Tax est. 1.5%: −$36 /mo · $435/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $995

Break-even live

Break-even rent $254

Max offer price $29,000

Occupancy floor 29%

Sensitivity live

Price	-10% $1,015	-5% $1,005	+0% $995	+5% $985	+10% $975
Rent	-10% $876	-5% $936	+0% $995	+5% $1,055	+10% $1,115
Rate	-1.0pp $1,010	-0.5pp $1,003	base $995	+0.5pp $988	+1.0pp $980

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: $7,250
• Closing costs: $870
• Reserves months: —
• Total cash needed: —

Rent comps 15 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	0.22mi
5312 Main St Unit 14 Springfield, OR	2.0	1.0	780	$1,199	$1.54	44d	1	0.26mi
5312 Main St Unit 13 Springfield, OR	2.0	1.0	780	$1,299	$1.67	44d	1	0.26mi
421 S 58th St Unit 00136 Springfield, OR	2.0	1.0	1100	$1,600	$1.45	14d	1	0.38mi
5817 Aster St Apt 3 Springfield, OR	2.0	1.5	1000	$1,295	$1.29	14d	1	0.42mi
4830 Elderberry Loop Springfield, OR	2.0	1.0	950	$1,595	$1.68	44d	1	0.66mi
4885 Aster St Springfield, OR	2.0	1.5	1000	$1,734	$1.73	14d	18	0.75mi
4800 B St Springfield, OR	2.0	2.0	968	$1,662	$1.72	14d	1	0.80mi
5040 E St #12 Springfield, OR	3.0	1.0	912	$1,895	$2.08	44d	1	0.81mi
5040 E St #1 Springfield, OR	3.0	1.0	1000	$1,895	$1.90	14d	1	0.81mi
5040 E St #21 Springfield, OR	3.0	1.0	1000	$1,795	$1.79	14d	1	0.81mi
1075 56th Pl Springfield, OR	3.0	1.0	904	$1,795	$1.99	44d	1	0.86mi
274 S 47th St Unit B Springfield, OR	2.0	1.0	940	$1,150	$1.22	22d	1	0.94mi
5580 High Banks Rd Springfield, OR	2.0	1.0	800	$1,590	$1.99	44d	1	0.96mi
4625 Main St Unit 8 Springfield, OR	2.0	1.0	650	$1,250	$1.92	14d	1	1.03mi

Listing history 11 events

1. 2026-06-18
   days on market $29,000 Active 16 DOM
2. 2026-06-17
   days on market $29,000 Active 15 DOM
3. 2026-06-16
   days on market $29,000 Active 14 DOM
4. 2026-06-15
   days on market $29,000 Active 13 DOM
5. 2026-06-14
   days on market $29,000 Active 11 DOM
6. 2026-06-10
   days on market $29,000 Active 8 DOM
7. 2026-06-09
   days on market $29,000 Active 7 DOM
8. 2026-06-08
   days on market $29,000 Active 6 DOM
9. 2026-06-07
   days on market $29,000 Active 5 DOM
10. 2026-06-03
    remarks 584-char remark
11. 2026-06-03
    listed $29,000 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 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: $18,164
• − Mortgage interest: −$1,624
• − Property taxes: −$435
• − Insurance: −$145
• − Repairs & maintenance: −$1,453
• − Management: −$1,453
• − Depreciation: −$844
• Taxable income: $12,210
• Est. tax owed @ 24.0%: −$2,930
• After-tax cash flow: $9,014/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

1 event — show timeline

• 2026-06-02 Listed $29,000 RMLS

Property tax history

-43.4%/yr

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