3334 Turner Rd SE · Salem, OR 97302

$145,000

3 bd · 2.0 ba · 1,440 sqft · Manufactured public records · 73 Days on market

Built 2010 $101/sqft · at area comps Est $137k · 6% over

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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
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• ARV discount +5.0/15.0
• Livability +4.0/5.0
• Schools +3.7/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

OPEN HOUSE THUR & Fri 5/21 & 5/22@4-6pm Turn Key/Move in ready home Priced to SELL Great All age park w/lots of amenities included in the park rent:Swimming pool, Workout room, Hot tub, Club house & dog friendly w/walking paths. Fully remodeled home January of 2025: Lvp Flooring, Light fixtures, New Walk in Shower & Soaking tub/Shower, Toilets, Vanities, New water Heater, Beautiful Custom Cabinets in Large Kitchen w/Island, Stone Countertops, SS Appliances, Subway tile backsplash, Whole House Water Purifier

Key facts

• Custom cabinets
• Stone countertops
• Soaking tub

Tags

• REMODELED HOME
• WALK IN SHOWER
• SOAKING TUB
• CUSTOM CABINETS
• LARGE KITCHEN
• STONE COUNTERTOPS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $145k.

Deal economics

• At list price, monthly cash flow is $226 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $136k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.7% 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 (+1.8%/yr); 249 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d 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 $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 73 days — a 6% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 19y ago; this cycle's ask has dropped $50k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $117k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $136,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.36% ✓
• Cap rate: 11.69%
• Cash-on-cash: 19.28%
• DSCR: 1.86
• GRM: 6.1

CMA / ARV

• ARV (median comp): $137,306
• List price: $145,000
• Delta: 5.60%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3236 Turner Rd	0.11mi	3/2.0	1,440 (0%)	8mo	$125,000	$87	89
3474 Turner Rd SE	0.13mi	3/2.0	1,485 (+3%)	6mo	$144,600	$97	84
3180 Turner Rd SE	0.22mi	2/2.0 (-1)	1,440 (0%)	5mo	$25,000	$17	80
3100 Turner Rd SE #625	0.34mi	3/2.0	1,377 (-4%)	1mo	$235,000	$171	76
3340 Turner Rd SE	0.04mi	3/2.0	1,620 (+12%)	3mo	$128,000	$79	74
3100 Turner Rd SE #206	0.34mi	2/2.0 (-1)	1,440 (0%)	8mo	$195,000	$135	72
3100 Turner Rd S #220	0.34mi	2/2.0 (-1)	1,368 (-5%)	1mo	$199,500	$146	70
3100 Turner Rd SE #620	0.34mi	3/2.0	1,560 (+8%)	1mo	$200,000	$128	69
3100 Turner (620) Rd SE	0.35mi	3/2.0	1,560 (+8%)	1mo	$200,000	$128	69
3100 Turner Rd SE #311	0.34mi	3/2.0	1,368 (-5%)	10mo	$155,000	$113	68
3100 Turner Rd SE #424	0.34mi	2/2.0 (-1)	1,368 (-5%)	10mo	$217,500	$159	63
2410 Lancaster Dr SE #962	0.75mi	2/2.0 (-1)	1,404 (-2%)	8mo	$75,000	$53	49

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 · 1.84% rent growth · sell at horizon

5-year hold

• IRR: -7.6%
• Equity multiple: 0.72×
• Total profit: $-11,166
• Equity at exit: $21,620

10-year hold

• IRR: 0.2%
• Equity multiple: 1.02×
• Total profit: $616
• Equity at exit: $12,537

Cash invested: $40,600 (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 97302

• Rents YoY: 1.8%
• Active inventory: 249
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,967 high
• Mortgage (P&I): −$760
• Tax from tax record: −$81 /mo · $974/yr
• Insurance: −$60
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$413
• Net cashflow: $226

Break-even live

Break-even rent $1,682

Max offer price $145,000

Occupancy floor 84%

Sensitivity live

Price	-10% $308	-5% $267	+0% $226	+5% $185	+10% $144
Rent	-10% $70	-5% $148	+0% $226	+5% $303	+10% $381
Rate	-1.0pp $299	-0.5pp $262	base $226	+0.5pp $188	+1.0pp $150

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2728 Lancaster Dr SE Unit 2728-14 Salem, OR	2.0	1.5	1000	$1,195	$1.20	45d	1	0.74mi
4243 Campbell Dr SE Unit 4243 Salem, OR	3.0	1.0	936	$1,550	$1.66	15d	1	1.03mi
4665 Campbell Dr SE Salem, OR	1.0–3.0	1.0–2.0	923	$2,099	$2.27	15d	1	1.18mi
1447 Connecticut St SE Salem, OR	3.0	2.0	1258	$2,675	$2.13	45d	1	1.22mi
2315 Strong Heights Ln SE Salem, OR	2.0–3.0	2.0–2.5	1087	$2,350	$2.16	45d	1	1.25mi
3955 Outward Rd SE Salem, OR	1.0–3.0	1.0–2.0	970	$2,249	$2.32	15d	20	1.40mi

Listing history 36 events

1. 2026-06-21
   days on market $145,000 Active 73 DOM
2. 2026-06-18
   days on market $145,000 Active 70 DOM
3. 2026-06-17
   days on market $145,000 Active 69 DOM
4. 2026-06-16
   days on market $145,000 Active 68 DOM
5. 2026-06-15
   days on market $145,000 Active 67 DOM
6. 2026-06-14
   days on market $145,000 Active 65 DOM
7. 2026-06-10
   days on market $145,000 Active 62 DOM
8. 2026-06-09
   days on market $145,000 Active 61 DOM
9. 2026-06-08
   days on market $145,000 Active 60 DOM
10. 2026-06-07
    days on market $145,000 Active 59 DOM
11. 2026-06-03
    days on market $145,000 Active 55 DOM
12. 2026-06-02
    days on market $145,000 Active 54 DOM
13. 2026-06-01
    days on market $145,000 Active 53 DOM
14. 2026-05-31
    days on market $145,000 Active 52 DOM
15. 2026-05-30
    pricedays on market $145,000 Active 51 DOM
16. 2026-05-12
    price $155,000 528-char remark

    Show marketing remark (528 chars)

    OPEN HOUSE THUR & Fri 5/21 & 5/22@4-6pm Turn Key/Move in ready home Priced to SELL Great All age park w/lots of amenities included in the park rent:Swimming pool, Workout room, Hot tub, Club house & dog friendly w/walking paths. Fully remodeled home January of 2025: Lvp Flooring, Light fixtures, New Walk in Shower & Soaking tub/Shower, Toilets, Vanities, New water Heater, Beautiful Custom Cabinets in Large Kitchen w/Island, Stone Countertops, SS Appliances, Subway tile backsplash, Whole House Water Purifier

17. 2026-04-24
    price $175,000 528-char remark

    Show marketing remark (528 chars)

    OPEN HOUSE THUR & Fri 5/21 & 5/22@4-6pm Turn Key/Move in ready home Priced to SELL Great All age park w/lots of amenities included in the park rent:Swimming pool, Workout room, Hot tub, Club house & dog friendly w/walking paths. Fully remodeled home January of 2025: Lvp Flooring, Light fixtures, New Walk in Shower & Soaking tub/Shower, Toilets, Vanities, New water Heater, Beautiful Custom Cabinets in Large Kitchen w/Island, Stone Countertops, SS Appliances, Subway tile backsplash, Whole House Water Purifier

18. 2026-04-09
    listed $195,000 Active 528-char remark

    Show marketing remark (528 chars)

    OPEN HOUSE THUR & Fri 5/21 & 5/22@4-6pm Turn Key/Move in ready home Priced to SELL Great All age park w/lots of amenities included in the park rent:Swimming pool, Workout room, Hot tub, Club house & dog friendly w/walking paths. Fully remodeled home January of 2025: Lvp Flooring, Light fixtures, New Walk in Shower & Soaking tub/Shower, Toilets, Vanities, New water Heater, Beautiful Custom Cabinets in Large Kitchen w/Island, Stone Countertops, SS Appliances, Subway tile backsplash, Whole House Water Purifier

19. 2024-12-30
    soldstatus $117,000 Sold 483-char remark

    Show marketing remark (483 chars)

    Well-kept home located in fantastic all-ages community. New furnace (2023). Among the larger homes in the park, includes a spacious deck overlooking creek home to lots of resident ducks. Primary bedroom enjoys views of mature landscaping and a serene koi pond. Great for entertaining! Ample outdoor space and shed for extra storage. Community amenities include fitness center, putting green, billiard room, seasonal outdoor pool, shuffleboard court, playground, and boat/RV storage.

20. 2024-12-03
    historical Active under Contract 483-char remark

    Show marketing remark (483 chars)

    Well-kept home located in fantastic all-ages community. New furnace (2023). Among the larger homes in the park, includes a spacious deck overlooking creek home to lots of resident ducks. Primary bedroom enjoys views of mature landscaping and a serene koi pond. Great for entertaining! Ample outdoor space and shed for extra storage. Community amenities include fitness center, putting green, billiard room, seasonal outdoor pool, shuffleboard court, playground, and boat/RV storage.

21. 2024-11-15
    price $129,500 483-char remark

    Show marketing remark (483 chars)

    Well-kept home located in fantastic all-ages community. New furnace (2023). Among the larger homes in the park, includes a spacious deck overlooking creek home to lots of resident ducks. Primary bedroom enjoys views of mature landscaping and a serene koi pond. Great for entertaining! Ample outdoor space and shed for extra storage. Community amenities include fitness center, putting green, billiard room, seasonal outdoor pool, shuffleboard court, playground, and boat/RV storage.

22. 2024-10-05
    price $135,000 483-char remark

    Show marketing remark (483 chars)

    Well-kept home located in fantastic all-ages community. New furnace (2023). Among the larger homes in the park, includes a spacious deck overlooking creek home to lots of resident ducks. Primary bedroom enjoys views of mature landscaping and a serene koi pond. Great for entertaining! Ample outdoor space and shed for extra storage. Community amenities include fitness center, putting green, billiard room, seasonal outdoor pool, shuffleboard court, playground, and boat/RV storage.

23. 2024-09-10
    price $140,500 483-char remark

    Show marketing remark (483 chars)

    Well-kept home located in fantastic all-ages community. New furnace (2023). Among the larger homes in the park, includes a spacious deck overlooking creek home to lots of resident ducks. Primary bedroom enjoys views of mature landscaping and a serene koi pond. Great for entertaining! Ample outdoor space and shed for extra storage. Community amenities include fitness center, putting green, billiard room, seasonal outdoor pool, shuffleboard court, playground, and boat/RV storage.

24. 2024-07-29
    listed $148,000 Active 483-char remark

    Show marketing remark (483 chars)

    Well-kept home located in fantastic all-ages community. New furnace (2023). Among the larger homes in the park, includes a spacious deck overlooking creek home to lots of resident ducks. Primary bedroom enjoys views of mature landscaping and a serene koi pond. Great for entertaining! Ample outdoor space and shed for extra storage. Community amenities include fitness center, putting green, billiard room, seasonal outdoor pool, shuffleboard court, playground, and boat/RV storage.

25. 2024-07-17
    historical
26. 2024-06-28
    listed $166,000 Active
27. 2020-06-17
    soldstatus $76,000 Sold
28. 2020-06-17
    soldstatus $76,000 Sold
29. 2020-06-01
    historical Active under Contract
30. 2020-06-01
    status Pending
31. 2020-05-01
    price $87,000
32. 2020-04-28
    price $87,000
33. 2020-04-27
    listed $94,000 Active
34. 2020-04-17
    listed $94,000 Active
35. 2008-07-01
    historical
36. 2007-10-15
    listed $74,900

ⓘ 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: $974 · $81/mo
• Projected year-2 tax: $1,406 · $117/mo
• Expected delta: +$433/yr (+$36/mo · 44.5%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥92°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: $23,607
• − Mortgage interest: −$8,122
• − Property taxes: −$974
• − Insurance: −$5,844
• − Repairs & maintenance: −$1,889
• − Management: −$1,889
• − Depreciation: −$4,218
• Taxable income: $672
• Est. tax owed @ 24.0%: −$161
• After-tax cash flow: $2,546/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): 40,799
• Household income: $85,833
• Rent vs Own: 38.5% rent · 61.5% own
• Severe rent burden: 1754.0

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 (77%)
• Race & ethnicity: White 77% Hispanic / Latino 12% Two or more races 10% Black 2% Pacific Islander 1% Asian 1%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Italian 4% Slovak 4% Portuguese 3%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 90% English-only · Spanish 6% Other Asian/Pacific 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: ▼ -382.78%
• Current HPI: 296.7837
• Rent YoY: ▲ 1.84%
• 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

+106.9% since first listed

21 events — show timeline

• 2026-05-12 Price Changed $155,000 WVMLS
• 2026-04-24 Price Changed $175,000 WVMLS
• 2026-04-09 Listed $195,000 WVMLS
• 2024-12-30 Sold (MLS) $117,000 WVMLS
• 2024-12-03 Contingent — WVMLS
• 2024-11-15 Price Changed $129,500 WVMLS
• 2024-10-05 Price Changed $135,000 WVMLS
• 2024-09-10 Price Changed $140,500 WVMLS
• 2024-07-29 Listed $148,000 WVMLS
• 2024-07-17 Listing Removed — WVMLS
• 2024-06-28 Listed $166,000 WVMLS
• 2020-06-17 Sold (MLS) $76,000 WVMLS
• 2020-06-17 Sold (MLS) $76,000 RMLS
• 2020-06-01 Contingent — WVMLS
• 2020-06-01 Pending — RMLS
• 2020-05-01 Price Changed $87,000 RMLS
• 2020-04-28 Price Changed $87,000 WVMLS
• 2020-04-27 Listed $94,000 RMLS
• 2020-04-17 Listed $94,000 WVMLS
• 2008-07-01 Listing Removed — WVMLS
• 2007-10-15 Listed $74,900 WVMLS

Property tax history

+4.4%/yr

Latest (2025): $974 · +7.7% YoY. Source: county tax records.