2120 Robins Ln SE #56 · Salem, OR 97306

$169,000

2 bd · 2.0 ba · 1,621 sqft · Manufactured public records · 82 Days on market

Built 1990 $104/sqft · 9% above area Est $140k · 21% 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 +26.3/30.0
• DSCR +8.9/10.0
• 1% rule +6.7/10.0
• Livability +4.0/5.0
• Schools +3.7/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming single story home in popular South Salem 55+ community. 2 beds, 2 baths, 1456 SF, den + bonus room featured in this open, easy flow home. Back bonus room could be 3rd BR. SS appl + pantry in kit. 2 beautiful covered decks, perfect for relaxing outside but protected from the elements. Current color palette reflects seller's artsy nature! Fully fenced yards. Detached 2-car garage has workshop in back + attached storage shed. Close to I-5, shops & medical. Park fees are $940/mo. NO HOA.

Key facts

• Covered decks
• Fully fenced yards
• Workshop in back

Tags

• COVERED DECKS
• FULLY FENCED YARDS
• WORKSHOP IN BACK
• ATTACHED STORAGE SHED

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $169k.

Deal economics

• At list price, monthly cash flow is $437 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $169k).
• Recommended offer: $159k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 2.9% in Salem — 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 79/100 on livability (#59 in OR, #2,084 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: schools D, crime F.
• Salem-Keizer SD 24J (urban): math 34% / reading 47% proficiency, ranked #103 of 183 in OR (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.6%/yr); 272 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,591 units permitted in Marion County in 2024 (716 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Marion County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($159k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 19y 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.
• Current owner paid $120k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $158,860 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is F 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?
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: 1.17% ✓
• Cap rate: 9.39%
• Cash-on-cash: 11.07%
• DSCR: 1.49
• GRM: 7.1

CMA / ARV

• ARV (median comp): $139,719
• List price: $169,000
• Delta: 20.96%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2120 Robins Ln SE #207	0.00mi	2/2.0	1,593 (-2%)	10mo	$225,000	$141	89
2120 Robins Ln SE #185	0.00mi	2/2.0	1,728 (+7%)	5mo	$224,900	$130	84
2120 Robins Ln #2	0.00mi	3/2.0 (+1)	1,536 (-5%)	8mo	$185,000	$120	79
2120 Robins Ln SE #180	0.00mi	3/2.0 (+1)	1,782 (+10%)	2mo	$243,000	$136	77
2000 Robins Ln SE #40	0.32mi	3/2.0 (+1)	1,620 (-0%)	6mo	$81,200	$50	74
2120 SE Robins Ln #145	0.00mi	3/2.0 (+1)	1,782 (+10%)	5mo	$200,000	$112	74
2000 Robins Ln SE #9	0.32mi	3/2.0 (+1)	1,586 (-2%)	4mo	$143,000	$90	73
2040 Navaho Ct SE	0.42mi	2/2.0	1,560 (-4%)	4mo	$94,999	$61	71
2120 Robins Ln SE #66	0.26mi	3/2.0 (+1)	1,536 (-5%)	7mo	$182,000	$118	68
2000 Robins Ln SE #8	0.32mi	3/2.0 (+1)	1,512 (-7%)	5mo	$127,500	$84	65
6795 Fairway Ave SE #6795	0.30mi	3/2.0 (+1)	1,440 (-11%)	4mo	$75,000	$52	59
2020 Nomad Ct SE	0.39mi	2/2.0	1,440 (-11%)	8mo	$50,000	$35	57

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 · 1.64% rent growth · sell at horizon

5-year hold

• IRR: -1.3%
• Equity multiple: 0.95×
• Total profit: $-2,243
• Equity at exit: $25,198

10-year hold

• IRR: 6.9%
• Equity multiple: 1.49×
• Total profit: $23,222
• Equity at exit: $14,612

Cash invested: $47,320 (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 97306

• Rents YoY: 1.6%
• Active inventory: 272
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,972 high
• Mortgage (P&I): −$886
• Tax from tax record: −$165 /mo · $1,976/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $437

Break-even live

Break-even rent $1,419

Max offer price $169,000

Occupancy floor 73%

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2116 Nomad Ct SE Unit 2120 Salem, OR	2.0	1.0	1050	$1,425	$1.36	14d	1	0.35mi
1900 Madras St SE Salem, OR	1.0–3.0	1.0–2.0	895	$1,615	$1.80	14d	10	0.56mi
6127 Blue River Dr SE Salem, OR	3.0	2.5	1531	$2,450	$1.60	44d	1	0.64mi
1951 Madras St SE Salem, OR	2.0	2.5	1465	$1,975	$1.35	21d	1	0.67mi
1691 Waln Dr SE Salem, OR	1.0–2.0	1.0–2.0	955	$1,725	$1.81	14d	6	0.69mi
6953 Talloc Ave SE Unit 6955 Salem, OR	3.0	2.5	1418	$2,295	$1.62	14d	1	0.73mi
5943 Blue River Dr SE Salem, OR	3.0	3.0	1472	$2,395	$1.63	44d	1	0.76mi
6150 Fircrest St SE Unit 6160 Salem, OR	3.0	1.5	1140	$2,050	$1.80	14d	1	0.82mi
6150 Fircrest St SE Salem, OR	3.0	1.5	1140	$2,050	$1.80	14d	1	0.82mi
5823 Reed Ln SE Unit 112 Salem, OR	2.0	2.5	1198	$1,995	$1.67	23d	1	0.87mi
5815 Reed Ln SE Unit 133 Salem, OR	2.0	2.5	1198	$1,995	$1.67	23d	1	0.89mi
1544 Fircrest Ct SE Salem, OR	2.0	1.5	1296	$1,850	$1.43	23d	1	0.90mi
1410 Jonmart Ave SE Salem, OR	3.0	2.0	1096	$1,995	$1.82	14d	1	0.97mi
1543 Wiltsey Rd SE Salem, OR	2.0	1.0–2.0	1043	$1,475	$1.41	14d	4	1.02mi
2772 Bastille Ave SE Salem, OR	3.0	2.0	1614	$2,495	$1.55	21d	1	1.16mi
5512 Murray St SE Salem, OR	3.0	2.0	1275	$2,645	$2.07	21d	1	1.19mi
5442 Monterey Dr SE Unit 5442 Salem, OR	2.0	2.0	1112	$1,995	$1.79	23d	1	1.23mi
5423 Monterey Dr SE Salem, OR	3.0	2.0	1457	$2,295	$1.58	23d	1	1.24mi
2846 Vintage Ave SE Unit 2846 Salem, OR	2.0	2.0	1105	$1,895	$1.71	44d	1	1.34mi
5787 Sunstone St SE Unit 5787 Salem, OR	3.0	1.5	1192	$1,645	$1.38	23d	1	1.41mi
6755 Devon Ave SE Salem, OR	3.0	2.0	2213	$3,100	$1.40	44d	1	1.42mi
1250 Baxter Rd SE Unit 1276 Salem, OR	3.0	2.5	1289	$2,395	$1.86	14d	1	1.49mi

Listing history 26 events

1. 2026-06-18
   days on market $169,000 Active 82 DOM
2. 2026-06-17
   days on market $169,000 Active 81 DOM
3. 2026-06-16
   days on market $169,000 Active 80 DOM
4. 2026-06-15
   days on market $169,000 Active 79 DOM
5. 2026-06-14
   days on market $169,000 Active 77 DOM
6. 2026-06-10
   days on market $169,000 Active 74 DOM
7. 2026-06-09
   days on market $169,000 Active 73 DOM
8. 2026-06-08
   days on market $169,000 Active 72 DOM
9. 2026-06-07
   days on market $169,000 Active 71 DOM
10. 2026-06-03
    days on market $169,000 Active 67 DOM
11. 2026-06-02
    days on market $169,000 Active 66 DOM
12. 2026-06-01
    days on market $169,000 Active 65 DOM
13. 2026-05-31
    days on market $169,000 Active 64 DOM
14. 2026-05-30
    days on market $169,000 Active 63 DOM
15. 2026-03-28
    listed $169,000 Active 504-char remark

    Show marketing remark (504 chars)

    Charming single story home in popular South Salem 55+ community. 2 beds, 2 baths, 1456 SF, den + bonus room featured in this open, easy flow home. Back bonus room could be 3rd BR. SS appl + pantry in kit. 2 beautiful covered decks, perfect for relaxing outside but protected from the elements. Current color palette reflects seller's artsy nature! Fully fenced yards. Detached 2-car garage has workshop in back + attached storage shed. Close to I-5, shops & medical. Park fees are $940/mo. NO HOA.

16. 2018-06-15
    soldstatus $119,900 Sold 333-char remark

    Show marketing remark (333 chars)

    Very well kept home in Terrace Lake Park - detached two car garage with shop/ shed. Beautifully landscaped property, brick skirting. Two outdoor covered decks, one with a hot tub - nice bonus room & park rent includes cable and garbage & use of community pool - 55+ community. Upgraded kitchen appliances & ductless MVAC.

17. 2018-05-30
    historical Active under Contract 333-char remark

    Show marketing remark (333 chars)

    Very well kept home in Terrace Lake Park - detached two car garage with shop/ shed. Beautifully landscaped property, brick skirting. Two outdoor covered decks, one with a hot tub - nice bonus room & park rent includes cable and garbage & use of community pool - 55+ community. Upgraded kitchen appliances & ductless MVAC.

18. 2018-05-16
    status Active 333-char remark

    Show marketing remark (333 chars)

    Very well kept home in Terrace Lake Park - detached two car garage with shop/ shed. Beautifully landscaped property, brick skirting. Two outdoor covered decks, one with a hot tub - nice bonus room & park rent includes cable and garbage & use of community pool - 55+ community. Upgraded kitchen appliances & ductless MVAC.

19. 2018-05-08
    historical Active under Contract 333-char remark

    Show marketing remark (333 chars)

    Very well kept home in Terrace Lake Park - detached two car garage with shop/ shed. Beautifully landscaped property, brick skirting. Two outdoor covered decks, one with a hot tub - nice bonus room & park rent includes cable and garbage & use of community pool - 55+ community. Upgraded kitchen appliances & ductless MVAC.

20. 2018-03-29
    listed $129,900 Active 333-char remark

    Show marketing remark (333 chars)

    Very well kept home in Terrace Lake Park - detached two car garage with shop/ shed. Beautifully landscaped property, brick skirting. Two outdoor covered decks, one with a hot tub - nice bonus room & park rent includes cable and garbage & use of community pool - 55+ community. Upgraded kitchen appliances & ductless MVAC.

21. 2008-03-14
    soldstatus $85,000
22. 2008-03-14
    soldstatus $85,000
23. 2008-01-22
    historical
24. 2008-01-22
    historical
25. 2007-07-19
    listed $87,500
26. 2007-07-19
    listed $87,500

ⓘ 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: $1,976 · $165/mo
• Projected year-2 tax: $1,976 · $165/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥91°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 12 unhealthy d/yr today · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,663
• − Mortgage interest: −$9,467
• − Property taxes: −$1,976
• − Insurance: −$845
• − Repairs & maintenance: −$1,893
• − Management: −$1,893
• − Depreciation: −$4,916
• Taxable income: $2,674
• Est. tax owed @ 24.0%: −$642
• After-tax cash flow: $4,597/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: Salem-Keizer SD 24J
• NCES district ID: 4110820
• Math proficiency: 34% ▼ -1.00%
• Reading proficiency: 47% ▼ -2.00%
• Median HH income: $48,632
• Composite: 37.16/100
• National rank: #9017
• State rank: #103 of 183 in OR

Livability — Salem

• Score: 79/100
• State rank: #59
• US rank: #2084

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salem, OR
• County: Marion County · 258,219 people
• City population: 193,601
• Metro: Salem, OR
• Population (ZIP): 34,383
• Household income: $101,753
• Rent vs Own: 30.7% rent · 69.3% own
• Severe rent burden: 1437.0

Population outlook (Marion County) Hauer SSP2

• Today (2025): 360,940 people
• By 2030: 375,178 · +3.9%
• By 2040: 400,914 · +11.1%
• By 2050: 422,187 · +17.0%
• By 2075: 460,305 · +27.5%
• By 2100: 464,025 · +28.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 12% Two or more races 9% Asian 5% Pacific Islander 2% Black 1%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Italian 6% Portuguese 5% Slovak 3%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 86% English-only · Spanish 6% Other Asian/Pacific 3% Russian/Polish/Slavic 1%

Political lean MEDSL · Marion

• 2024 margin: Toss-up / Even · D 47.5% · R 49.5% · Other 3.0%
• 2008→2024 swing: -4.2pp toward R · 2008: 2.2pp · 2024: -2.0pp
• All cycles: 2024: R+2.0 2020: D+1.1 2016: R+5.0 2012: R+3.5 2008: D+2.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -335.25%
• Current HPI: 279.7875
• Rent YoY: ▲ 1.64%
• Metro: Salem, 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

+93.1% since first listed

12 events — show timeline

• 2026-03-28 Listed $169,000 WVMLS
• 2018-06-15 Sold (MLS) $119,900 WVMLS
• 2018-05-30 Contingent — WVMLS
• 2018-05-16 Relisted — WVMLS
• 2018-05-08 Contingent — WVMLS
• 2018-03-29 Listed $129,900 WVMLS
• 2008-03-14 Sold (MLS) $85,000 WVMLS
• 2008-03-14 Sold (MLS) $85,000 RMLS
• 2008-01-22 Listing Removed — WVMLS
• 2008-01-22 Delisted — RMLS
• 2007-07-19 Listed $87,500 WVMLS
• 2007-07-19 Listed $87,500 RMLS

Property tax history

+2.3%/yr

Latest (2025): $1,976 · +7.7% YoY. Source: county tax records.