4915 Swegle Rd NE #24 · Four Corners, OR 97305

$165,000

2 bd · 2.0 ba · 1,311 sqft · Manufactured public records · 31 Days on market

Built 2018

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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 +25.6/30.0
• DSCR +8.5/10.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• 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 MLS

Check out this newer double wide 2018 doublewide manufactured home with two bedrooms plus a bonus room, vaulted ceilings, fully fenced, 2 sheds, new large deck, gas stove and furnace, RV storage is available with additional charges, space rent covers water & garbage (shared well). Must pass background check with the park manager before moving in.

Key facts

• Large deck
• Clubhouse
• Pool

Tags

• KITCHEN ISLAND
• GAS RANGE
• LARGE DECK
• GARDEN SHED
• CLUBHOUSE
• POOL

Property features AI

Finance

• HOA & community: Sunset Village 55+ community with clubhouse, pool and dog park; Park rent includes water, sewer and garbage

Exterior

• Parking: One garage space; Carport
• Utilities: City sewer; Private/community/shared well water; Park rent includes water, sewer and garbage
• Home design: Double-wide manufactured home; Built in 2018; Located in a 55+ adult park (Sunset Village)
• Construction: Wood siding; Composition roof; Pier foundation
• Exterior features: Partial fenced yard; Large deck; Landscaped yard; Garden shed (outbuilding)

Interior

• Kitchen: Kitchen on the main level; Kitchen island; Gas range; Range included; Dishwasher; Refrigerator included
• Bedrooms: Master bedroom on the main level; Additional bedroom(s) on the main level
• Flooring: Carpet; Vinyl
• Bathrooms: Two bathrooms on the main level
• Heating & cooling: Gas heating; Forced air; Heat pump; Central air conditioning
• Interior features: Vaulted ceilings; Open floor plan; Lots of windows for natural light; Disposal
• Laundry & utility: Utility room on the main level; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $165k.

Deal economics

• At list price, monthly cash flow is $389 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $160k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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: Swegle Elementary School (520 students, 74% FRL); Mckay High School (2,311 students, 102% FRL) — zoned schools average 88% FRL vs 53% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 175 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $5k 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 31 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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 $116k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $160,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.09% ✓
• Cap rate: 9.12%
• Cash-on-cash: 10.11%
• DSCR: 1.45
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $95,703
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4915 Swegle Rd #81	0.05mi	2/2.0	1,248 (-5%)	1mo	$29,900	$24	89
4915 NE Swegle Rd #76	0.05mi	2/2.0	1,368 (+4%)	5mo	$51,500	$38	86
4915 Swegle Rd NE #3	0.05mi	3/2.0 (+1)	1,288 (-2%)	4mo	$57,000	$44	86
4915 Swegle Rd	0.05mi	3/2.0 (+1)	1,288 (-2%)	4mo	$57,000	$44	86
1932 Cottontail Ct NE	0.19mi	3/2.0 (+1)	1,296 (-1%)	3mo	$349,900	$270	82
1500 NE Gabriela Ct #16	0.25mi	3/2.0 (+1)	1,350 (+3%)	1mo	$98,000	$73	78
1500 Gabriela Ct #20	0.25mi	3/2.0 (+1)	1,323 (+1%)	5mo	$132,000	$100	77
4915 Swegle Rd NE #30	0.05mi	3/2.0 (+1)	1,440 (+10%)	6mo	$81,000	$56	71
4915 Swegle Rd NE #15	0.05mi	3/2.0 (+1)	1,152 (-12%)	2mo	$57,500	$50	71
4759 Deepwood Loop NE	0.26mi	2/2.0	1,440 (+10%)	5mo	$295,000	$205	68
857 Hoffman Rd	0.64mi	3/2.0 (+1)	1,296 (-1%)	6mo	$110,000	$85	58
2560 Brown Rd	0.71mi	3/2.0 (+1)	1,296 (-1%)	5mo	$412,000	$318	56

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: -1.1%
• Equity multiple: 0.96×
• Total profit: $-1,984
• Equity at exit: $24,602

10-year hold

• IRR: 8.5%
• Equity multiple: 1.65×
• Total profit: $30,027
• Equity at exit: $14,266

Cash invested: $46,200 (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: 7.7×

Monthly cashflow live

• Estimated rent: $1,792 high
• Mortgage (P&I): −$865
• Tax from tax record: −$93 /mo · $1,112/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $389

Break-even live

Break-even rent $1,300

Max offer price $165,000

Occupancy floor 73%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1973 45th Ave NE Salem, OR	2.0	1.0–2.0	1043	$1,360	$1.30	13d	2	0.50mi
4768 El Cedro Loop NE Salem, OR	3.0	2.0	1344	$1,895	$1.41	43d	1	0.51mi
4200 Sunnyview Rd NE Salem, OR	2.0	1.0–2.0	880	$1,445	$1.64	23d	1	0.73mi
4098 Market St NE Unit MT21 Salem, OR	2.0	1.0	900	$1,275	$1.42	23d	1	0.82mi
4359 Rodeo Dr NE Salem, OR	3.0	2.0	1170	$2,245	$1.92	21d	1	0.83mi
4889 Saunter Loop NE Salem, OR	3.0	1.5	1186	$1,925	$1.62	43d	1	0.83mi
4154 Sunnyview Rd NE Salem, OR	1.0–2.0	1.0	806	$1,375	$1.71	13d	6	0.84mi
3910-3930 Sunnyview Rd NE Salem, OR	3.0	2.5	1300	$1,845	$1.42	13d	6	1.05mi
4824 Falcon Ct NE Salem, OR	3.0	1.5	1246	$1,995	$1.60	23d	1	1.08mi
4252 Ash Grove Dr NE Salem, OR	3.0	2.0	1357	$2,100	$1.55	13d	1	1.09mi
2500 Lancaster Dr NE Unit 35 Salem, OR	2.0	1.0	890	$1,295	$1.46	43d	1	1.11mi
2500 Lancaster Dr NE Salem, OR	1.0–2.0	1.0	771	$1,350	$1.75	13d	11	1.11mi
434 Greencrest St NE Salem, OR	3.0	2.0	1637	$3,900	$2.38	23d	1	1.14mi
2489 Coral Ave NE Salem, OR	1.0–2.0	1.0	817	$1,301	$1.59	13d	11	1.20mi
4712 Silverton Rd NE Salem, OR	2.0	2.0	952	$1,495	$1.57	13d	5	1.27mi
3695 D St NE Salem, OR	1.0–2.0	1.0–2.0	1037	$1,650	$1.59	43d	3	1.28mi
3617 Silverstone Dr NE Salem, OR	3.0	2.0	1526	$2,195	$1.44	21d	1	1.38mi
4833 Thyme Ave NE Salem, OR	3.0	2.5	1681	$2,545	$1.51	13d	1	1.39mi
3654 47th Ave NE Unit 3654-D Salem, OR	2.0	1.0	900	$1,150	$1.28	43d	1	1.45mi
3661 Silverstone Ct NE Salem, OR	3.0	2.0	1742	$2,295	$1.32	13d	1	1.45mi
2015 Debbie Way NE Unit 2045 Salem, OR	3.0	1.0	1008	$1,825	$1.81	13d	1	1.45mi
435 Fountain Valley Way NE Salem, OR	1.0–2.0	1.0–2.0	939	$1,559	$1.66	21d	5	1.45mi
3240 Harold Dr NE Salem, OR	1.0–3.0	1.0–2.0	972	$1,572	$1.62	23d	13	1.47mi
3240 Harold Dr NE Unit 3236-311 Salem, OR	2.0	2.0	1060	$1,650	$1.56	43d	1	1.47mi
102 Greencrest St NE Salem, OR	3.0	1.0–2.0	914	$1,918	$2.10	13d	25	1.47mi
3240 Harold Dr NE Unit 3255-122 Salem, OR	3.0	2.0	1192	$1,850	$1.55	43d	1	1.47mi
4470 Conser Way NE Salem, OR	2.0	2.0	925	$1,395	$1.51	13d	3	1.48mi
3420 Monarch Dr NE Unit 3422 Salem, OR	2.0	1.0	910	$1,250	$1.37	13d	1	1.49mi

Listing history 21 events

1. 2026-06-18
   days on market $165,000 Active 31 DOM
2. 2026-06-17
   days on market $165,000 Active 30 DOM
3. 2026-06-16
   days on market $165,000 Active 29 DOM
4. 2026-06-15
   days on market $165,000 Active 28 DOM
5. 2026-06-14
   days on market $165,000 Active 26 DOM
6. 2026-06-10
   days on market $165,000 Active 23 DOM
7. 2026-06-09
   days on market $165,000 Active 22 DOM
8. 2026-06-08
   days on market $165,000 Active 21 DOM
9. 2026-06-07
   days on market $165,000 Active 20 DOM
10. 2026-06-03
    days on market $165,000 Active 16 DOM
11. 2026-06-02
    days on market $165,000 Active 15 DOM
12. 2026-06-01
    days on market $165,000 Active 14 DOM
13. 2026-05-31
    days on market $165,000 Active 13 DOM
14. 2026-05-30
    days on market $165,000 Active 12 DOM
15. 2026-05-19
    listed $165,000 Active
16. 2021-04-15
    soldstatus $116,000 Sold 352-char remark

    Show marketing remark (327 chars)

    2019! Doublewide manufactured home with two bedrooms plus a bonus room, vaulted ceilings, new large deck, fully fenced, new large shed, gas stove and furnace, RV storage is available with additional charges, space rent covers water & garbage (shared well). Must pass background check with the park manager before moving in.

17. 2021-04-15
    soldstatus $116,000 Sold 327-char remark

    Show marketing remark (327 chars)

    2019! Doublewide manufactured home with two bedrooms plus a bonus room, vaulted ceilings, new large deck, fully fenced, new large shed, gas stove and furnace, RV storage is available with additional charges, space rent covers water & garbage (shared well). Must pass background check with the park manager before moving in.

18. 2021-03-04
    historical Active under Contract 327-char remark

    Show marketing remark (352 chars)

    Check out this newer double wide 2018 doublewide manufactured home with two bedrooms plus a bonus room, vaulted ceilings, fully fenced, 2 sheds, new large deck, gas stove and furnace, RV storage is available with additional charges, space rent covers water & garbage (shared well). Must pass background check with the park manager before moving in.

19. 2021-03-04
    status Pending 352-char remark

    Show marketing remark (352 chars)

    Check out this newer double wide 2018 doublewide manufactured home with two bedrooms plus a bonus room, vaulted ceilings, fully fenced, 2 sheds, new large deck, gas stove and furnace, RV storage is available with additional charges, space rent covers water & garbage (shared well). Must pass background check with the park manager before moving in.

20. 2021-03-01
    listed $120,000 Active 352-char remark

    Show marketing remark (327 chars)

    2019! Doublewide manufactured home with two bedrooms plus a bonus room, vaulted ceilings, new large deck, fully fenced, new large shed, gas stove and furnace, RV storage is available with additional charges, space rent covers water & garbage (shared well). Must pass background check with the park manager before moving in.

21. 2021-03-01
    listed $120,000 Active 327-char remark

    Show marketing remark (327 chars)

    2019! Doublewide manufactured home with two bedrooms plus a bonus room, vaulted ceilings, new large deck, fully fenced, new large shed, gas stove and furnace, RV storage is available with additional charges, space rent covers water & garbage (shared well). Must pass background check with the park manager before moving in.

ⓘ 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: $1,112 · $93/mo
• Projected year-2 tax: $1,600 · $133/mo
• Expected delta: +$489/yr (+$41/mo · 44.0%)

ⓘ 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 1/10 Low
• 🌡 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 13 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,509
• − Mortgage interest: −$9,243
• − Property taxes: −$1,112
• − Insurance: −$825
• − Repairs & maintenance: −$1,721
• − Management: −$1,721
• − Depreciation: −$4,800
• Taxable income: $2,088
• Est. tax owed @ 24.0%: −$501
• After-tax cash flow: $4,171/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

• Census place: Four Corners, OR
• 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

+37.5% since first listed

7 events — show timeline

• 2026-05-19 Listed $165,000 WVMLS
• 2021-04-15 Sold (MLS) $116,000 WVMLS
• 2021-04-15 Sold (MLS) $116,000 RMLS
• 2021-03-04 Contingent — WVMLS
• 2021-03-04 Pending — RMLS
• 2021-03-01 Listed $120,000 WVMLS
• 2021-03-01 Listed $120,000 RMLS

Property tax history

-0.9%/yr

Latest (2020): $1,112 · -0.9% YoY. Source: county tax records.