421 Stevens Rd Unit 20 · Eagle Point, OR 97524

$23,500

2 bd · 1.0 ba · 800 sqft · Land public records · 129 Days on market

Built 1971 $29/sqft · 49% below area Est $46k · 49% under

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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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.8/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

421 Stevens Unit 20 - Charming 55+ Community Home in Eagle Points Oak Hills Mobile Estate Welcome to comfortable living in this well-appointed 2-bedroom, 1-bathroom double-wide home in desirable Eagle Point. Enjoy a spacious, open layout perfect for entertaining or relaxing, with both bedrooms offering ample space and natural light. The private, fenced backyard is your personal oasis--ideal for morning coffee, gardening, or simply enjoying the fresh air. The covered carport provides protected parking plus bonus storage space for hobbies and outdoor equipment. Located in a vibrant 55+ community, you'll enjoy an active lifestyle surrounded by neighbors who share your zest for life. This home combines affordability, comfort, and community in one perfect package. Don't miss this opportunity to simplify your lifestyle without sacrificing space or comfort. Schedule your showing today!

Key facts

• Covered carport
• Bonus storage space
• Parking

Tags

• PRIVATE FENCED BACKYARD
• COVERED CARPORT
• BONUS STORAGE SPACE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath land listed at $24k.

Deal economics

• At list price, monthly cash flow is $938 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $24k).
• Recommended offer: $21k (12.0% below list) — sets the bar for market timing.
• Cap rate 54.2% vs local median 2.2% in Eagle Point — 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 76/100 on livability (#75 in OR, #3,362 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A, health & safety A; Watch: amenities F, commute F.
• Eagle Point SD 9 (suburban): math 26% / reading 45% proficiency, ranked #134 of 183 in OR (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 233 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 904 units permitted in Jackson County in 2024 (212 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $162 of loan paydown is wiped out by about $705 of value loss. Plan a longer hold.
• Jackson County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 129 days — a 12% lower offer ($21k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 6→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $20,680 (12.0% below list)

Questions for the listing agent

1. It's been on market 129 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 5.85% ✓
• Cap rate: 54.20%
• Cash-on-cash: 171.10%
• DSCR: 8.61
• GRM: 1.4

CMA / ARV

• ARV (median comp): $46,354
• List price: $23,500
• Delta: -49.30%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 9.50×
• Total profit: $55,957
• Equity at exit: $3,504

10-year hold

• IRR: —
• Equity multiple: 20.11×
• Total profit: $125,715
• Equity at exit: $2,032

Cash invested: $6,580 (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 97524

• Home prices YoY: -27.7%
• Active inventory: 233
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $1,375 high
• Mortgage (P&I): −$123
• Tax from tax record: −$15 /mo · $179/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $938

Break-even live

Break-even rent $187

Max offer price $23,500

Occupancy floor 27%

Sensitivity live

Price	-10% $951	-5% $945	+0% $938	+5% $932	+10% $925
Rent	-10% $830	-5% $884	+0% $938	+5% $992	+10% $1,047
Rate	-1.0pp $950	-0.5pp $944	base $938	+0.5pp $932	+1.0pp $926

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: $5,875
• Closing costs: $705
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
118 N Shasta Ave Apt B Eagle Point, OR	3.0	2.0	1110	$1,695	$1.53	22d	1	0.30mi
204 Fargo St Unit 204 Eagle Point, OR	2.0	1.0	744	$1,395	$1.88	14d	1	0.60mi
247 Lorraine Ave Apt 3 Eagle Point, OR	1.0	1.0	655	$1,150	$1.76	45d	1	0.66mi
247 Lorraine Ave Unit 1 Eagle Point, OR	1.0	1.0	655	$1,050	$1.60	14d	1	0.66mi
826 S Royal Ave Unit 828 Eagle Point, OR	2.0	1.0	780	$1,295	$1.66	45d	1	0.69mi

Listing history 19 events

1. 2026-06-21
   days on market $23,500 Active 129 DOM
2. 2026-06-19
   days on market $23,500 Active 127 DOM
3. 2026-06-18
   days on market $23,500 Active 126 DOM
4. 2026-06-17
   days on market $23,500 Active 125 DOM
5. 2026-06-16
   days on market $23,500 Active 124 DOM
6. 2026-06-15
   days on market $23,500 Active 123 DOM
7. 2026-06-14
   days on market $23,500 Active 121 DOM
8. 2026-06-13
   days on market $23,500 Active 120 DOM
9. 2026-06-10
   days on market $23,500 Active 118 DOM
10. 2026-06-09
    days on market $23,500 Active 117 DOM
11. 2026-06-08
    days on market $23,500 Active 116 DOM
12. 2026-06-07
    days on market $23,500 Active 115 DOM
13. 2026-06-05
    days on market $23,500 Active 112 DOM
14. 2026-06-03
    days on market $23,500 Active 111 DOM
15. 2026-06-02
    days on market $23,500 Active 110 DOM
16. 2026-06-01
    days on market $23,500 Active 109 DOM
17. 2026-05-31
    days on market $23,500 Active 108 DOM
18. 2026-05-30
    days on market $23,500 Active 107 DOM
19. 2026-02-12
    listed $23,500 Active 892-char remark

    Show marketing remark (892 chars)

    421 Stevens Unit 20 - Charming 55+ Community Home in Eagle Points Oak Hills Mobile Estate Welcome to comfortable living in this well-appointed 2-bedroom, 1-bathroom double-wide home in desirable Eagle Point. Enjoy a spacious, open layout perfect for entertaining or relaxing, with both bedrooms offering ample space and natural light. The private, fenced backyard is your personal oasis--ideal for morning coffee, gardening, or simply enjoying the fresh air. The covered carport provides protected parking plus bonus storage space for hobbies and outdoor equipment. Located in a vibrant 55+ community, you'll enjoy an active lifestyle surrounded by neighbors who share your zest for life. This home combines affordability, comfort, and community in one perfect package. Don't miss this opportunity to simplify your lifestyle without sacrificing space or comfort. Schedule your showing today!

ⓘ 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: $179 · $15/mo
• Projected year-2 tax: $228 · $19/mo
• Expected delta: +$49/yr (+$4/mo · 27.2%)

ⓘ 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 8/10 Severe
• 🌡 Heat 6/10 Major 6 d/yr ≥99°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 24 unhealthy d/yr today · 29 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,498
• − Mortgage interest: −$1,316
• − Property taxes: −$179
• − Insurance: −$118
• − Repairs & maintenance: −$1,320
• − Management: −$1,320
• − Depreciation: −$684
• Taxable income: $11,562
• Est. tax owed @ 24.0%: −$2,775
• After-tax cash flow: $8,483/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: Eagle Point SD 9
• NCES district ID: 4104500
• Math proficiency: 26% ▬ 0.00%
• Reading proficiency: 45% ▬ 0.00%
• Median HH income: $47,834
• Composite: 33.13/100
• National rank: #10630
• State rank: #134 of 183 in OR

Livability — Eagle Point

• Score: 76/100
• State rank: #75
• US rank: #3362

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eagle Point, OR
• Population (ZIP): 15,072

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 234,433 people
• By 2030: 243,834 · +4.0%
• By 2040: 259,717 · +10.8%
• By 2050: 273,269 · +16.6%
• By 2075: 300,624 · +28.2%
• By 2100: 305,256 · +30.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 10% Two or more races 6%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Italian 3% Portuguese 2% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 6%

Political lean MEDSL · Jackson

• 2024 margin: Lean R (+6.4) · D 45.5% · R 51.9% · Other 2.6%
• 2008→2024 swing: -6.5pp toward R · 2008: 0.1pp · 2024: -6.4pp
• All cycles: 2024: R+6.4 2020: R+3.5 2016: R+9.2 2012: R+5.0 2008: D+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -116.82%
• Current HPI: 304.579
• Rent YoY: —
• Metro: —
• 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

• 2026-02-12 Listed $23,500 MLSCO

Property tax history

+1.3%/yr

Latest (2022): $179 · +2.9% YoY. Source: county tax records.