2025 Navaho Ct SE · Salem, OR 97306

$149,900

3 bd · 2.0 ba · 1,188 sqft · Other public records · 85 Days on market

Built 1992 Good condition $126/sqft · 20% above area Est $130k · 16% over ↓ 19% since listing

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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 +26.8/30.0
• DSCR +9.2/10.0
• 1% rule +6.7/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Schools +3.7/10.0
• Rent growth +2.9/5.0
• ARV discount +0.4/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Easy living? This is it! Private with beautiful trees! In town but feels secluded. Newer roof, Central AC/Heat, Appliances, Kitchen cabinets, flooring, Skylights, double pane windows, bathrooms remodeled in 2022! This has the look andfeel of a brand-new manufactured home. Good sense insulation throughout. Cul-de-sac location in a peaceful, forest settingnext to a deer trail. Located in Southbrook, a 55+ community. Low park rent. Community center with pool. Convenient location!

Key facts

• Central ac
• Cul-de-sac location
• Bathrooms remodeled

Tags

• NEWER ROOF
• CENTRAL AC
• KITCHEN CABINETS
• DOUBLE PANE WINDOWS
• BATHROOMS REMODELED
• CUL-DE-SAC LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $150k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $410 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $141k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.6% 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; 28 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 $4k 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 85 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $20k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $140,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 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: 9.58%
• Cash-on-cash: 11.73%
• DSCR: 1.52
• GRM: 7.1

CMA / ARV

• ARV (median comp): $129,580
• List price: $149,900
• Delta: 15.68%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.64% rent growth · sell at horizon

5-year hold

• IRR: -0.3%
• Equity multiple: 0.99×
• Total profit: $-544
• Equity at exit: $22,351

10-year hold

• IRR: 7.9%
• Equity multiple: 1.56×
• Total profit: $23,667
• Equity at exit: $12,961

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

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

Monthly cashflow live

• Estimated rent: $1,755 high
• Mortgage (P&I): −$786
• Tax from tax record: −$128 /mo · $1,532/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $410

Break-even live

Break-even rent $1,236

Max offer price $149,900

Occupancy floor 72%

Sensitivity live

Price	-10% $495	-5% $453	+0% $410	+5% $368	+10% $325
Rent	-10% $272	-5% $341	+0% $410	+5% $480	+10% $549
Rate	-1.0pp $486	-0.5pp $448	base $410	+0.5pp $371	+1.0pp $332

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 28 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	0.08mi
2194 Navaho Ct SE Unit 2198 Salem, OR	2.0	1.0	989	$1,395	$1.41	44d	1	0.16mi
1860 Rees Hill Rd SE Unit 1870-205 Salem, OR	2.0	2.0	1000	$1,800	$1.80	24d	1	0.16mi
1860 Rees Hill Rd SE Salem, OR	2.0	2.0	962	$1,675	$1.74	14d	2	0.16mi
1860 Rees Hill Rd SE Unit 1890-112 Salem, OR	2.0	2.0	925	$1,650	$1.78	44d	1	0.16mi
2220 Navaho Ct SE Unit 2220 Salem, OR	2.0	1.0	1023	$1,295	$1.27	24d	1	0.19mi
6953 Talloc Ave SE Unit 6955 Salem, OR	3.0	2.5	1418	$2,295	$1.62	14d	1	0.47mi
1691 Waln Dr SE Salem, OR	1.0–2.0	1.0–2.0	955	$1,725	$1.81	14d	6	0.84mi
1900 Madras St SE Salem, OR	1.0–3.0	1.0–2.0	895	$1,895	$2.12	14d	10	0.84mi
1951 Madras St SE Salem, OR	2.0	2.5	1465	$1,975	$1.35	22d	1	0.93mi
1626 Madras St SE Salem, OR	2.0	1.0	921	$1,695	$1.84	44d	1	0.93mi
6150 Fircrest St SE Unit 6160 Salem, OR	3.0	1.5	1140	$2,050	$1.80	14d	1	0.96mi
6150 Fircrest St SE Salem, OR	3.0	1.5	1140	$2,050	$1.80	14d	1	0.96mi
1701 Madras St SE Salem, OR	2.0	1.0	828	$1,145	$1.38	44d	1	0.98mi
1544 Fircrest Ct SE Salem, OR	2.0	1.5	1296	$1,850	$1.43	24d	1	1.01mi
5943 Blue River Dr SE Salem, OR	3.0	3.0	1472	$2,395	$1.63	44d	1	1.03mi
5952 Park Ct SE Salem, OR	1.0–2.0	1.0	742	$1,299	$1.75	14d	11	1.05mi
1359 Madras St SE Salem, OR	2.0	1.5	864	$1,495	$1.73	24d	1	1.06mi
1410 Jonmart Ave SE Salem, OR	3.0	2.0	1096	$1,995	$1.82	14d	1	1.06mi
1807 Wiltsey Rd SE Salem, OR	1.0–2.0	1.0–2.0	845	$1,710	$2.02	14d	6	1.08mi
5851 Reed Ln SE Salem, OR	2.0	2.0	990	$1,652	$1.67	14d	7	1.10mi
5775 Commercial St SE Salem, OR	1.0–3.0	1.0–2.0	779	$2,225	$2.85	14d	47	1.12mi
5775 Commercial St SE Salem, OR	1.0–3.0	1.0–2.0	779	$2,295	$2.94	24d	17	1.12mi
5823 Reed Ln SE Unit 112 Salem, OR	2.0	2.5	1198	$1,995	$1.67	24d	1	1.17mi
1543 Wiltsey Rd SE Salem, OR	2.0	1.0–2.0	1043	$1,475	$1.41	14d	4	1.19mi
5815 Reed Ln SE Unit 133 Salem, OR	2.0	2.5	1198	$1,995	$1.67	24d	1	1.19mi
5787 Sunstone St SE Unit 5787 Salem, OR	3.0	1.5	1192	$1,645	$1.38	24d	1	1.48mi
5512 Murray St SE Salem, OR	3.0	2.0	1275	$2,645	$2.07	22d	1	1.49mi

Listing history 31 events

1. 2026-06-18
   days on market $149,900 Active 85 DOM
2. 2026-06-17
   days on market $149,900 Active 84 DOM
3. 2026-06-16
   days on market $149,900 Active 83 DOM
4. 2026-06-15
   days on market $149,900 Active 82 DOM
5. 2026-06-14
   days on market $149,900 Active 80 DOM
6. 2026-06-10
   days on market $149,900 Active 77 DOM
7. 2026-06-09
   days on market $149,900 Active 76 DOM
8. 2026-06-08
   days on market $149,900 Active 75 DOM
9. 2026-06-07
   days on market $149,900 Active 74 DOM
10. 2026-06-03
    days on market $149,900 Active 70 DOM
11. 2026-06-02
    days on market $149,900 Active 69 DOM
12. 2026-06-01
    days on market $149,900 Active 68 DOM
13. 2026-05-31
    days on market $149,900 Active 67 DOM
14. 2026-05-30
    days on market $149,900 Active 66 DOM
15. 2026-04-11
    price $149,900 481-char remark

    Show marketing remark (481 chars)

    Easy living? This is it! Private with beautiful trees! In town but feels secluded. Newer roof, Central AC/Heat, Appliances, Kitchen cabinets, flooring, Skylights, double pane windows, bathrooms remodeled in 2022! This has the look andfeel of a brand-new manufactured home. Good sense insulation throughout. Cul-de-sac location in a peaceful, forest settingnext to a deer trail. Located in Southbrook, a 55+ community. Low park rent. Community center with pool. Convenient location!

16. 2026-03-26
    historical
17. 2026-03-25
    listed $170,000 Active 481-char remark

    Show marketing remark (481 chars)

    Easy living? This is it! Private with beautiful trees! In town but feels secluded. Newer roof, Central AC/Heat, Appliances, Kitchen cabinets, flooring, Skylights, double pane windows, bathrooms remodeled in 2022! This has the look andfeel of a brand-new manufactured home. Good sense insulation throughout. Cul-de-sac location in a peaceful, forest settingnext to a deer trail. Located in Southbrook, a 55+ community. Low park rent. Community center with pool. Convenient location!

18. 2026-02-22
    price $170,000
19. 2025-11-15
    price $180,000
20. 2025-09-20
    price $190,000
21. 2025-07-12
    price $199,900
22. 2025-04-19
    price $210,000
23. 2024-11-14
    price $230,000
24. 2024-10-03
    listed $235,000 Active
25. 2023-04-06
    soldstatus $179,900 Sold
26. 2023-04-05
    soldstatus $179,900 Closed
27. 2023-03-06
    status Pending
28. 2023-03-04
    price $179,900
29. 2023-03-03
    price $179,900
30. 2023-02-21
    listed $185,900 Active
31. 2023-02-17
    listed $185,900 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: $1,532 · $128/mo
• Projected year-2 tax: $1,532 · $128/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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥90°F today · 14 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: $21,059
• − Mortgage interest: −$8,397
• − Property taxes: −$1,532
• − Insurance: −$750
• − Repairs & maintenance: −$1,685
• − Management: −$1,685
• − Depreciation: −$4,361
• Taxable income: $2,651
• Est. tax owed @ 24.0%: −$636
• After-tax cash flow: $4,286/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This home is in good condition with newer updates and a private setting. It has the look and feel of a brand-new manufactured home and is ready for a new owner.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value.
• Both Landscaping — Improves curb appeal and rental value.
• Both Replace windows — Improves energy efficiency and value.
• Both Replace HVAC system — Improves comfort and value.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value. ↑
• Both Landscaping — Improves curb appeal and rental value. ↑
• Both Replace windows — Improves energy efficiency and value. ↑
• Both Replace HVAC system — Improves comfort and value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-19.4% since first listed

17 events — show timeline

• 2026-04-11 Price Changed $149,900 WVMLS
• 2026-03-26 Listing Removed — WVMLS
• 2026-03-25 Listed $170,000 WVMLS
• 2026-02-22 Price Changed $170,000 WVMLS
• 2025-11-15 Price Changed $180,000 WVMLS
• 2025-09-20 Price Changed $190,000 WVMLS
• 2025-07-12 Price Changed $199,900 WVMLS
• 2025-04-19 Price Changed $210,000 WVMLS
• 2024-11-14 Price Changed $230,000 WVMLS
• 2024-10-03 Listed $235,000 WVMLS
• 2023-04-06 Sold (MLS) $179,900 WVMLS
• 2023-04-05 Sold (MLS) $179,900 RMLS
• 2023-03-06 Pending — WVMLS
• 2023-03-04 Price Changed $179,900 WVMLS
• 2023-03-03 Price Changed $179,900 RMLS
• 2023-02-21 Listed $185,900 RMLS
• 2023-02-17 Listed $185,900 WVMLS

Property tax history

+7.0%/yr

Latest (2025): $1,532 · +7.7% YoY. Source: county tax records.