Real Estate Investing in Eugene, Oregon (97404)
Should you buy in 97404 (Eugene, OR)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Eugene, OR (97404)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 97404 Eugene
ZIP 97404 in Eugene, OR carries a robust set of headwinds. Home values near $445K and rents of $1,745/mo sit inside a market where underwriting has to be tight.
Distressed markets are won on execution, not on spreadsheets. ZIP 97404 sits at the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Stepping back, 97404 offers a low basis, the region around Eugene has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
The 97404 ZIP's population of 33,356 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that registers the need for careful underwriting.
Strategically, 97404 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Eugene:
Property Strategy for 97404
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $306,293 | $1,320 | 3.1% | +4.7% | $306,293 |
| 2BR | $357,423 | $1,730 | 3.5% | +5.4% | $178,711 |
| 3BR | $429,012 | $2,410 | 4.0% | +5.8% | $143,004 |
| 4BR | $498,950 | $2,900 | 4.2% | +6.0% | $124,738 |
| 5BR | $528,013 | — | — | +6.1% | $105,603 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 97404 Compare?
| Metric | 97404 | Eugene | Eugene-Springfield, OR | Oregon |
|---|---|---|---|---|
| Home Value | $444,557 | $524,074 | N/A | $493,884 |
| 5-Year CAGR | 4.1% | 4.1% | N/A | 4.9% |
| Avg Rent | $1,745 | $1,842 | N/A | - |
| Cap Rate | 3.1% | 2.8% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 97404 (Eugene, OR). Anonymous, moderated, never written by AI.
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Property managers serving Lane County
Manage rentals here? List your business →Preferred Northwest Property Management offers comprehensive property management services to make managing properties easy, effortless, and affordable. summary from their website
Trio Property Management Inc. provides property management services in Eugene, Springfield, Veneta, Coburg, Junction City, Creswell, and Elmira, helping owners protect rentals and increase returns. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $444,557 |
| Monthly Rent | $1,745 |
| Price-to-Rent | 21.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.7% |
| Cap Rate | 3.1% |
| 5-Year IRR | 7.1% |
📈 Home Appreciation
| 1-Year | +1.6% ▲ |
| 3-Year CAGR | +1.5% ▲ |
| 5-Year CAGR | +4.1% ▲ |
| 10-Year CAGR | +6.8% ▲ |
🏠 Rent Trends
| 1-Year | -4.9% ▼ |
| 3-Year CAGR | +0.0% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.5%) exceeds the estimated cap rate (3.1%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 97404
Population: 33,356
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 97404
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 5,790 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is real estate in Eugene, OR a good investment right now?
Eugene, OR rates 3.0/5 for investability. With median values at $445K and rents near $1,745/mo, the market offers reasonable fundamentals for rental investors.
How strong are rents in Eugene, OR?
Investors in Eugene, OR typically see rents near $1,745/mo per month against $445K home values - a solid setup for rental cash flow.
What is the best play in Eugene, OR?
Eugene, OR investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($445K prices, $1,745/mo rents) make it a reasonable choice.
What is the typical vacancy rate in Eugene, OR?
Eugene, OR vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
Can owner-occupants cash flow in Eugene, OR?
Eugene, OR offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $1,745/mo rent level.
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