1930 Hampden Ln NE #18 · Four Corners, OR 97305

$70,000

2 bd · 1.0 ba · 686 sqft · Manufactured public records · 23 Days on market

Built 1992

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Why this score? — see what drove the B 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Move-in ready manufactured home in a desirable all-age park. This solid, updated home features a great lot with a backyard and storage shed, plus a convenient location close to shopping, restaurants, and more. Recent upgrades include a new mini split, new roof, new windows, and more! Space rent is $715/month and includes water & sewer. Manufactured home financing available.

Key facts

• Great lot
• Backyard
• Storage shed

Tags

• GREAT LOT
• BACKYARD
• STORAGE SHED
• CONVENIENT LOCATION
• NEW MINI SPLIT
• NEW ROOF

Property features AI

Finance

• Other: Park is not adults-only
• Financial info: Home warranty negotiable; Manufactured home financing available (per listing remarks)
• HOA & community: Space rent $715/month (includes water and sewer)

Exterior

• Parking: Carport; One garage space
• Security: Details not provided
• Utilities: Water included in park rent (well on property); Sewer included in park rent (city sewer)
• Home design: Single-wide manufactured home; Located in Sunnyview park; All-age park
• Construction: Built in 1992
• Exterior features: Partial fenced yard; Landscaped; Storage shed on the lot

Interior

• Kitchen: Breakfast nook / breakfast room; Dining area combined with another space
• Bedrooms: Master bedroom on the main level; Second bedroom on the main level
• Flooring: Carpet; Vinyl; Laminate
• Bathrooms: Details not provided
• Heating & cooling: Mini-split (recently upgraded, described in remarks)
• Interior features: High-speed internet available; Partial fenced yard (backyard described under exterior)
• Laundry & utility: Utility room on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $70k.

Deal economics

• At list price, monthly cash flow is $545 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $69k (1.5% below list) — sets the bar for market timing.
• Cap rate 15.6% vs local median 3.9% in Four Corners — 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 78/100 on livability (#66 in OR, #2,680 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, amenities B+; Watch: crime D-.
• 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: Washington Elementary School (371 students, 60% FRL); Mckay High School (2,311 students, 102% FRL) — zoned schools average 81% FRL vs 53% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 175 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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

• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.

Recommended offer $68,950 (1.5% below list)

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 D 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: 1.74% ✓
• Cap rate: 15.63%
• Cash-on-cash: 33.36%
• DSCR: 2.48
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.6%
• Equity multiple: 2.19×
• Total profit: $23,336
• Equity at exit: $10,437

10-year hold

• IRR: 36.0%
• Equity multiple: 4.31×
• Total profit: $64,912
• Equity at exit: $6,052

Cash invested: $19,600 (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 97305

• Active inventory: 175
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,218 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$21 /mo · $250/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $545

Break-even live

Break-even rent $528

Max offer price $70,000

Occupancy floor 50%

Sensitivity live

Price	-10% $584	-5% $565	+0% $545	+5% $525	+10% $505
Rent	-10% $449	-5% $497	+0% $545	+5% $593	+10% $641
Rate	-1.0pp $580	-0.5pp $563	base $545	+0.5pp $527	+1.0pp $508

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4886 Silverton Rd NE Unit 4/Office location Salem, OR	1.0	1.0	625	$1,100	$1.76	44d	1	1.26mi
4880 Silverton Rd NE Salem, OR	1.0	1.0	650	$1,100	$1.69	44d	1	1.29mi
4704 Center St NE Salem, OR	1.0	1.0	658	$1,472	$2.24	14d	15	1.42mi

Listing history 15 events

1. 2026-06-18
   days on market $70,000 Active 23 DOM
2. 2026-06-17
   days on market $70,000 Active 22 DOM
3. 2026-06-16
   days on market $70,000 Active 21 DOM
4. 2026-06-15
   days on market $70,000 Active 20 DOM
5. 2026-06-14
   days on market $70,000 Active 18 DOM
6. 2026-06-10
   days on market $70,000 Active 15 DOM
7. 2026-06-09
   days on market $70,000 Active 14 DOM
8. 2026-06-08
   days on market $70,000 Active 13 DOM
9. 2026-06-07
   days on market $70,000 Active 12 DOM
10. 2026-06-03
    days on market $70,000 Active 8 DOM
11. 2026-06-02
    days on market $70,000 Active 7 DOM
12. 2026-06-01
    days on market $70,000 Active 6 DOM
13. 2026-05-31
    days on market $70,000 Active 5 DOM
14. 2026-05-30
    days on market $70,000 Active 4 DOM
15. 2026-05-26
    listed $70,000 Active

ⓘ 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: $250 · $21/mo
• Projected year-2 tax: $679 · $57/mo
• Expected delta: +$429/yr (+$36/mo · 171.8%)

ⓘ 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 ≥92°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 17 unhealthy d/yr today · 17 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,611
• − Mortgage interest: −$3,921
• − Property taxes: −$250
• − Insurance: −$350
• − Repairs & maintenance: −$1,169
• − Management: −$1,169
• − Depreciation: −$2,036
• Taxable income: $5,716
• Est. tax owed @ 24.0%: −$1,372
• After-tax cash flow: $5,166/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 — Four Corners

• Score: 78/100
• State rank: #66
• US rank: #2680

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 45,044

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Hispanic / Latino 44% White 44% Two or more races 16% Asian 3% Pacific Islander 3% Native American 3% Black 1%
• Hispanic origin (detail): Mexican 41%
• Common ancestry: Italian 2% Slovak 2% Scotch-Irish 2%
• Foreign-born: 23% · Canada, China
• Languages at home: 57% English-only · Spanish 35% Other Asian/Pacific 3% Russian/Polish/Slavic 2%

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: ▼ -328.50%
• Current HPI: 296.3428
• 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

1 event — show timeline

• 2026-05-26 Listed $70,000 WVMLS

Property tax history

+5.1%/yr

Latest (2022): $250 · +3.7% YoY. Source: county tax records.