2155 Robins Ln SE #12 · Salem, OR 97306-2736

$149,900

3 bd · 2.0 ba · 1,782 sqft · Manufactured public records · 6 Days on market

Built 1998 Est $214k · 30% under

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Why this score? — see what drove the A- 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +5.0/10.0
• Livability +4.0/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Skyline MFHome in Oak Hollow all-age park in SE Salem. This 3 BR/2 BA home has the master w/ WI closet at the opposite end from the spare BRs. Separate room, office, with French doors off of large master. Big kitchen w/ tons of cabinetry & island w/ bar; refrigerator stays in home. Open floor plan makes this 1782 +/- SF home feel huge. Deck & fenced yard. Carport w/ shed.

Key facts

• Formal dining room
• 2 garage spots
• Built 1998

Tags

• FORMAL DINING ROOM
• DEDICATED LAUNDRY ROOM

Property features AI

Finance

• Other: Move-in ready with multiple updates and modern finishes
• HOA & community: Located in the Oak Hollow manufactured home park

Exterior

• Parking: Carport; 2 garage spaces
• Utilities: City water; City sewer; Electric power
• Home design: Double wide manufactured home; Located in Oak Hollow Park; Built in 1998
• Construction: Composition roof
• Exterior features: Covered deck; Fenced yard; Shed/outbuilding; Fresh exterior paint

Interior

• Kitchen: Dishwasher; Electric range; Butcher block countertops
• Bedrooms: 4 bedrooms (including a bonus room used as an office)
• Flooring: Carpet; Laminate wood flooring
• Bathrooms: 2 bathrooms
• Heating & cooling: Ductless heating and air conditioning system; Forced air
• Interior features: Fresh interior paint; Butcher block kitchen countertops; Entertainment center included; Disposal
• Laundry & utility: Dedicated laundry room; Updated plumbing; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $150k.

Deal economics

• At list price, monthly cash flow is $934 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 13.8% 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: 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.
• Zoned schools: Pringle Elementary School (499 students, 91% FRL); South Salem High School (2,256 students, 96% FRL) — zoned schools average 94% FRL vs 53% district-wide (41 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 1 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,591 units permitted in Marion County in 2024 (716 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($1k loan paydown + $4k appreciation (3.0% local appreciation)).
• Marion 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 $42k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 15y 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 $29k; list at $150k implies a 417% gain — meaningful room to come down on a strong offer.

Recommended offer $149,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.61% ✓
• Cap rate: 13.77%
• Cash-on-cash: 26.70%
• DSCR: 2.19
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $213,840
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2000 Robins Ln SE #34	0.24mi	3/2.0	1,782 (0%)	11mo	$124,000	$70	80
2120 Robins Ln SE #180	0.48mi	3/2.0	1,782 (0%)	2mo	$243,000	$136	76
2120 SE Robins Ln #145	0.48mi	3/2.0	1,782 (0%)	5mo	$200,000	$112	73
2000 Robins Ln SE #40	0.24mi	3/2.0	1,620 (-9%)	6mo	$81,200	$50	68
2000 Robins Ln SE #9	0.24mi	3/2.0	1,586 (-11%)	4mo	$143,000	$90	67
2120 Robins Ln SE #185	0.48mi	2/2.0 (-1)	1,728 (-3%)	5mo	$224,900	$130	63
2120 Robins Ln SE #66	0.22mi	3/2.0	1,536 (-14%)	7mo	$182,000	$118	61
2120 Robins Ln SE #202	0.48mi	3/2.0	1,620 (-9%)	11mo	$194,000	$120	54
2120 Robins Ln SE #38	0.37mi	2/2.0 (-1)	1,629 (-9%)	13mo	$232,500	$143	53
2120 Robins Ln #2	0.48mi	3/2.0	1,536 (-14%)	8mo	$185,000	$120	48
2120 Robins Ln SE #207	0.48mi	2/2.0 (-1)	1,593 (-11%)	10mo	$225,000	$141	47
2120 Robins Ln SE #7	0.37mi	2/2.0 (-1)	1,521 (-15%)	11mo	$242,500	$159	44

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 32.7%
• Equity multiple: 2.85×
• Total profit: $77,544
• Equity at exit: $67,402

10-year hold

• IRR: 33.0%
• Equity multiple: 5.59×
• Total profit: $192,702
• Equity at exit: $103,874

Cash invested: $41,972 (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 97306-2736

• Active inventory: 1
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $2,417 high
• Mortgage (P&I): −$786
• Tax from tax record: −$127 /mo · $1,526/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$508
• Net cashflow: $934

Break-even live

Break-even rent $1,235

Max offer price $149,900

Occupancy floor 56%

Sensitivity live

Price	-10% $1,019	-5% $976	+0% $934	+5% $892	+10% $849
Rent	-10% $743	-5% $839	+0% $934	+5% $1,029	+10% $1,125
Rate	-1.0pp $1,009	-0.5pp $972	base $934	+0.5pp $895	+1.0pp $856

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6127 Blue River Dr SE Salem, OR	3.0	2.5	1531	$2,450	$1.60	44d	1	0.17mi
1951 Madras St SE Salem, OR	2.0	2.5	1465	$1,975	$1.35	21d	1	0.22mi
5943 Blue River Dr SE Salem, OR	3.0	3.0	1472	$2,395	$1.63	44d	1	0.28mi
1544 Fircrest Ct SE Salem, OR	2.0	1.5	1296	$1,850	$1.43	24d	1	0.57mi
5512 Murray St SE Salem, OR	3.0	2.0	1275	$2,645	$2.07	21d	1	0.69mi
2772 Bastille Ave SE Salem, OR	3.0	2.0	1614	$2,495	$1.55	21d	1	0.79mi
5423 Monterey Dr SE Salem, OR	3.0	2.0	1457	$2,295	$1.58	24d	1	0.82mi
6953 Talloc Ave SE Unit 6955 Salem, OR	3.0	2.5	1418	$2,295	$1.62	14d	1	0.88mi
1250 Baxter Rd SE Unit 1276 Salem, OR	3.0	2.5	1289	$2,395	$1.86	14d	1	1.01mi
5031 Big Rock Ct SE Salem, OR	3.0	2.0	1314	$2,700	$2.05	44d	1	1.24mi
922 Rees Hill Rd SE Salem, OR	3.0	2.0	2333	$3,995	$1.71	44d	1	1.31mi
5455 Norma Ave SE Salem, OR	3.0	2.0	1669	$2,595	$1.55	44d	1	1.35mi
6755 Devon Ave SE Salem, OR	3.0	2.0	2213	$3,100	$1.40	44d	1	1.36mi
6011 Sawgrass St SE Salem, OR	4.0	2.5	2399	$3,500	$1.46	44d	1	1.47mi
5577 7th Ave SE Salem, OR	4.0	3.0	1808	$2,450	$1.36	24d	1	1.49mi

Listing history 6 events

1. 2026-06-18
   days on market $149,900 Active 6 DOM
2. 2026-06-17
   days on market $149,900 Active 5 DOM
3. 2026-06-16
   days on market $149,900 Active 4 DOM
4. 2026-06-15
   days on market $149,900 Active 3 DOM
5. 2026-06-14
   remarks 699-char remark
6. 2026-06-14
   listed $149,900 Active 1 DOM

ⓘ 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: $1,526 · $127/mo
• Projected year-2 tax: $1,526 · $127/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 1/10 Low FEMA zone X (unshaded) · 0% 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: $29,008
• − Mortgage interest: −$8,397
• − Property taxes: −$1,526
• − Insurance: −$750
• − Repairs & maintenance: −$2,321
• − Management: −$2,321
• − Depreciation: −$4,361
• Taxable income: $9,334
• Est. tax owed @ 24.0%: −$2,240
• After-tax cash flow: $8,968/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

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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+355.6% since first listed

7 events — show timeline

• 2026-06-11 Listed $149,900 WVMLS
• 2012-04-10 Listing Removed — WVMLS
• 2012-04-05 Sold (MLS) $29,000 WVMLS
• 2012-04-02 Contingent — WVMLS
• 2012-03-12 Relisted — WVMLS
• 2012-03-12 Listing Removed — WVMLS
• 2011-10-06 Listed $32,900 WVMLS

Property tax history

+3.1%/yr

Latest (2025): $1,526 · +7.7% YoY. Source: county tax records.