Allred's eagle at the par-5 finishing hole moved him to 7-under-par 65 at Shadow Hills Country Club. It was the sixth time in seven Oregon Classics that the first-round leader/co-leaders shot 7-under 65.
'It's nice to finish that way,' said Allred. 'More than anything, it's so much fun to be here.'
Ryan Armour and Kyle Reifers both shot 6-under 66 and were tied for second place, while Bob Heintz, Michael Long, Fran Quinn, Rick Price, Ricky Barnes and John Ellis posted 5-under 67 to share fourth.
But they are all looking up at Allred, a 26-year-old Oregon native.
'I've been looking forward to this week for a long time,' Allred said. 'It's so much fun to have family and friends around, and my little brother is on the bag this week. It's just a blast to be out here.'
Pars were in short supply during Allred's round. He made back-to-back birdies on the second and third holes, gave a shot back with a bogey at the fourth, and then had consecutive birdies again at the fifth and sixth.
Around the turn, Allred made two straight birdies again at the ninth and 10th to get to 5 under. Bogeys at the 11th and 16th were buffered by birdies at the 14th and 15th.
Then, Allred finished with a flourish, curling in his 20-footer at the 541- yard closing hole.
With just five events remaining before the Nationwide Tour Championship, Allred is looking to finish his season with a flourish as well.
He missed seven consecutive cuts over the summer, but has finished in third place in two of his last three starts. Last year on the PGA Tour, he made just nine cuts in 30 starts.
'It's hard to pour your heart into something and not have any results for a pretty long time,' said Allred. 'Last year was kind of the same way, my rookie year on the PGA Tour. Every time I've gone through something like this, I look back and realize it's probably the best thing for me.'