2120 Robins Ln SE #74 · Salem, OR 97306

$210,000

3 bd · 2.0 ba · 1,809 sqft · Manufactured · 63 Days on market

Built 1981 $116/sqft · 45% above area Est $145k · 45% 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 +24.5/30.0
• DSCR +7.9/10.0
• 1% rule +6.3/10.0
• 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

Welcome home to this well-maintained corner-lot home in a gated 55+ community. Large windows fill the living and dining areas with natural light and offer a lovely view. Newer carpet in the bedrooms, a spacious primary suite, and an oversized garage with an insulated back area for storage or a workshop. Enjoy the added greenhouse, newer roof and siding, plus a yard with sprinklers and raised garden beds.

Key facts

• Gated community
• Large windows
• Primary suite

Tags

• CORNER-LOT
• GATED COMMUNITY
• LARGE WINDOWS
• PRIMARY SUITE
• OVERSIZED GARAGE
• INSULATED BACK AREA

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $210k.

Deal economics

• At list price, monthly cash flow is $429 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $210k).
• Recommended offer: $197k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.7% 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; 14 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $6k 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 63 days — a 6% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y 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.

Recommended offer $197,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 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: 1.13% ✓
• Cap rate: 8.75%
• Cash-on-cash: 8.76%
• DSCR: 1.39
• GRM: 7.4

CMA / ARV

• ARV (median comp): $144,596
• List price: $210,000
• Delta: 45.23%
• 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
2000 Robins Ln SE #34	0.11mi	3/2.0	1,782 (-2%)	11mo	$124,000	$70	83
2120 Robins Ln SE #180	0.37mi	3/2.0	1,782 (-2%)	2mo	$243,000	$136	79
2120 SE Robins Ln #145	0.37mi	3/2.0	1,782 (-2%)	5mo	$200,000	$112	76
2000 Robins Ln SE #40	0.11mi	3/2.0	1,620 (-10%)	6mo	$81,200	$50	72
2000 Robins Ln SE #9	0.11mi	3/2.0	1,586 (-12%)	4mo	$143,000	$90	71
2120 Robins Ln SE #185	0.37mi	2/2.0 (-1)	1,728 (-4%)	5mo	$224,900	$130	66
2120 Robins Ln SE #101	0.00mi	2/2.0 (-1)	1,586 (-12%)	14mo	$100,000	$63	63
2120 Robins Ln SE #202	0.37mi	3/2.0	1,620 (-10%)	11mo	$194,000	$120	56
2120 Robins Ln SE #38	0.27mi	2/2.0 (-1)	1,629 (-10%)	13mo	$232,500	$143	55
2120 Robins Ln SE #128	0.37mi	3/2.0	1,620 (-10%)	14mo	$258,000	$159	54
2120 Robins Ln SE #207	0.37mi	2/2.0 (-1)	1,593 (-12%)	10mo	$225,000	$141	50
2040 Navaho Ct SE	0.70mi	2/2.0 (-1)	1,560 (-14%)	4mo	$94,999	$61	36

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: -4.6%
• Equity multiple: 0.83×
• Total profit: $-9,870
• Equity at exit: $31,312

10-year hold

• IRR: 3.5%
• Equity multiple: 1.24×
• Total profit: $13,920
• Equity at exit: $18,157

Cash invested: $58,800 (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: 7.4×

Monthly cashflow live

• Estimated rent: $2,380 high
• Mortgage (P&I): −$1,101
• Tax est. 1.5%: −$262 /mo · $3,150/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$500
• Net cashflow: $429

Break-even live

Break-even rent $1,837

Max offer price $210,000

Occupancy floor 77%

Sensitivity live

Price	-10% $574	-5% $502	+0% $429	+5% $357	+10% $284
Rent	-10% $241	-5% $335	+0% $429	+5% $523	+10% $617
Rate	-1.0pp $535	-0.5pp $483	base $429	+0.5pp $375	+1.0pp $319

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 14 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	0.26mi
1951 Madras St SE Salem, OR	2.0	2.5	1465	$1,975	$1.35	21d	1	0.31mi
5943 Blue River Dr SE Salem, OR	3.0	3.0	1472	$2,395	$1.63	44d	1	0.39mi
1544 Fircrest Ct SE Salem, OR	2.0	1.5	1296	$1,850	$1.43	24d	1	0.60mi
6953 Talloc Ave SE Unit 6955 Salem, OR	3.0	2.5	1418	$2,295	$1.62	14d	1	0.78mi
5512 Murray St SE Salem, OR	3.0	2.0	1275	$2,645	$2.07	21d	1	0.82mi
2772 Bastille Ave SE Salem, OR	3.0	2.0	1614	$2,495	$1.55	21d	1	0.90mi
5423 Monterey Dr SE Salem, OR	3.0	2.0	1457	$2,295	$1.58	24d	1	0.94mi
1250 Baxter Rd SE Unit 1276 Salem, OR	3.0	2.5	1289	$2,395	$1.86	14d	1	1.12mi
922 Rees Hill Rd SE Salem, OR	3.0	2.0	2333	$3,995	$1.71	44d	1	1.24mi
6755 Devon Ave SE Salem, OR	3.0	2.0	2213	$3,100	$1.40	44d	1	1.31mi
5031 Big Rock Ct SE Salem, OR	3.0	2.0	1314	$2,700	$2.05	44d	1	1.37mi
5455 Norma Ave SE Salem, OR	3.0	2.0	1669	$2,595	$1.55	44d	1	1.43mi
6011 Sawgrass St SE Salem, OR	4.0	2.5	2399	$3,500	$1.46	44d	1	1.49mi

Listing history 19 events

1. 2026-06-18
   days on market $210,000 Active 63 DOM
2. 2026-06-17
   days on market $210,000 Active 62 DOM
3. 2026-06-16
   days on market $210,000 Active 61 DOM
4. 2026-06-15
   days on market $210,000 Active 60 DOM
5. 2026-06-14
   days on market $210,000 Active 58 DOM
6. 2026-06-10
   days on market $210,000 Active 55 DOM
7. 2026-06-09
   days on market $210,000 Active 54 DOM
8. 2026-06-08
   days on market $210,000 Active 53 DOM
9. 2026-06-07
   days on market $210,000 Active 52 DOM
10. 2026-06-03
    days on market $210,000 Active 48 DOM
11. 2026-06-02
    days on market $210,000 Active 47 DOM
12. 2026-06-01
    days on market $210,000 Active 46 DOM
13. 2026-05-31
    days on market $210,000 Active 45 DOM
14. 2026-05-30
    days on market $210,000 Active 44 DOM
15. 2026-04-16
    listed $220,000 Active 407-char remark

    Show marketing remark (407 chars)

    Welcome home to this well-maintained corner-lot home in a gated 55+ community. Large windows fill the living and dining areas with natural light and offer a lovely view. Newer carpet in the bedrooms, a spacious primary suite, and an oversized garage with an insulated back area for storage or a workshop. Enjoy the added greenhouse, newer roof and siding, plus a yard with sprinklers and raised garden beds.

16. 2025-02-21
    historical
17. 2024-10-17
    listed $230,000 Active
18. 2012-12-07
    historical
19. 2012-10-03
    listed $87,500 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 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: $28,564
• − Mortgage interest: −$11,763
• − Property taxes: −$3,150
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,285
• − Management: −$2,285
• − Depreciation: −$6,109
• Taxable income: $1,922
• Est. tax owed @ 24.0%: −$461
• After-tax cash flow: $4,689/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

+151.4% since first listed

5 events — show timeline

• 2026-04-16 Listed $220,000 WVMLS
• 2025-02-21 Listing Removed — WVMLS
• 2024-10-17 Listed $230,000 WVMLS
• 2012-12-07 Listing Removed — WVMLS
• 2012-10-03 Listed $87,500 WVMLS