4314 Hazelgreen Rd NE #4314 · Salem, OR 97305

$75,000

2 bd · 2.0 ba · 1,315 sqft · Manufactured · 127 Days on market

Built 2007 Fair condition $57/sqft · 31% above area Est $57k · 31% over ↓ 57% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Senior Community. Spc Rent $1095 PRICE REDUCED $75kOriginal Price was $150,000 in Feb 2026.Seller is ready to move. Immaculate inside and out ! 2 Bedrooms with a Den. Enjoy the quality of a "Homebuilders NW" MFG. Great floor plan with huge front porch and view to the north. Front living room & dining with a large kitchen and pantry.Oak cabinets throughout .Heat pump, lots of windows. landscaped, raised garden beds, sprinkler system, over sized carport Room for 3 cars with an awesome corner shed.

Key facts

• Pantry
• Huge front porch
• Oak cabinets

Tags

• HUGE FRONT PORCH
• GREAT VIEW TO THE NORTH
• LARGE KITCHEN
• PANTRY
• EATING BAR
• OAK CABINETS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $75k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 26.0% 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: 175 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 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 $519 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 $21k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 127 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $75k (50%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 127 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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: 2.96% ✓
• Cap rate: 26.03%
• Cash-on-cash: 70.48%
• DSCR: 4.14
• GRM: 2.8

CMA / ARV

• ARV (median comp): $57,228
• List price: $75,000
• Delta: 31.06%
• 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
5422 Portland Rd NE #80	0.18mi	3/2.0 (+1)	1,344 (+2%)	1mo	$81,000	$60	82
5422 Portland Rd NE #37	0.18mi	3/2.0 (+1)	1,296 (-1%)	4mo	$39,000	$30	81
4353 Lemon St NE	0.05mi	3/2.0 (+1)	1,386 (+5%)	4mo	$57,500	$41	80
5422 Portland Rd NE #47	0.18mi	3/2.0 (+1)	1,344 (+2%)	4mo	$35,000	$26	80
5422 Portland Rd NE Unit 22	0.18mi	3/2.0 (+1)	1,296 (-1%)	7mo	$122,000	$94	79
4230 Hazelgreen Rd NE #52	0.10mi	2/2.0	1,200 (-9%)	3mo	$32,000	$27	78
4293 Lemon St NE	0.02mi	2/2.0	1,152 (-12%)	3mo	$60,000	$52	76
5422 Portland Rd NE #24	0.18mi	2/2.0	1,440 (+10%)	1mo	$60,000	$42	75
5422 Portland Rd NE #56	0.18mi	2/2.0	1,152 (-12%)	3mo	$38,500	$33	69
5422 Portland Rd NE #139	0.18mi	3/2.0 (+1)	1,512 (+15%)	3mo	$85,750	$57	59
5151 Copper Creek Loop #183	0.39mi	3/2.0 (+1)	1,512 (+15%)	2mo	$130,000	$86	50
5279 Gold Dust St NE #220	0.36mi	3/2.0 (+1)	1,512 (+15%)	4mo	$130,000	$86	50

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: 70.1%
• Equity multiple: 4.16×
• Total profit: $66,441
• Equity at exit: $11,183

10-year hold

• IRR: 74.1%
• Equity multiple: 8.58×
• Total profit: $159,150
• Equity at exit: $6,485

Cash invested: $21,000 (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: 2.8×

Monthly cashflow live

• Estimated rent: $2,217 high
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$466
• Net cashflow: $1,233

Break-even live

Break-even rent $656

Max offer price $75,000

Occupancy floor 39%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5115 Countryside St NE Salem, OR	3.0	1.0–2.0	876	$1,958	$2.23	13d	20	0.45mi
4115 Geranium Loop NE Salem, OR	3.0	2.5	1316	$2,250	$1.71	13d	1	0.77mi
4927 Orbit Ave NE Salem, OR	3.0	2.5	1598	$2,395	$1.50	21d	1	0.82mi
5034 Armstrong Ave NE Salem, OR	3.0	2.5	1400	$2,550	$1.82	43d	1	0.86mi
4823 Settlers Dr NE Salem, OR	3.0	2.0	1228	$2,395	$1.95	43d	1	0.88mi
5150 Constellation Ave NE Salem, OR	3.0	2.0	1869	$2,795	$1.50	13d	1	0.96mi
4040 Hayesville Dr NE Salem, OR	1.0–3.0	1.0–2.0	927	$1,695	$1.83	13d	25	1.04mi
4624 Lancaster Dr NE Salem, OR	2.0–3.0	2.0–2.5	963	$1,495	$1.55	13d	10	1.18mi
4473 47th Ave NE Salem, OR	3.0	1.0	1244	$2,200	$1.77	43d	1	1.39mi

Listing history 21 events

1. 2026-06-18
   days on market $75,000 Active 127 DOM
2. 2026-06-17
   days on market $75,000 Active 126 DOM
3. 2026-06-16
   days on market $75,000 Active 125 DOM
4. 2026-06-15
   days on market $75,000 Active 124 DOM
5. 2026-06-14
   days on market $75,000 Active 122 DOM
6. 2026-06-10
   days on market $75,000 Active 119 DOM
7. 2026-06-09
   days on market $75,000 Active 118 DOM
8. 2026-06-08
   days on market $75,000 Active 117 DOM
9. 2026-06-07
   days on market $75,000 Active 116 DOM
10. 2026-06-03
    days on market $75,000 Active 112 DOM
11. 2026-06-02
    days on market $75,000 Active 111 DOM
12. 2026-06-01
    days on market $75,000 Active 110 DOM
13. 2026-05-31
    days on market $75,000 Active 109 DOM
14. 2026-05-30
    days on market $75,000 Active 108 DOM
15. 2026-05-11
    price $75,000 515-char remark

    Show marketing remark (515 chars)

    Senior Community. Spc Rent $1095 PRICE REDUCED $75kOriginal Price was $150,000 in Feb 2026.Seller is ready to move. Immaculate inside and out ! 2 Bedrooms with a Den. Enjoy the quality of a "Homebuilders NW" MFG. Great floor plan with huge front porch and view to the north. Front living room & dining with a large kitchen and pantry.Oak cabinets throughout .Heat pump, lots of windows. landscaped, raised garden beds, sprinkler system, over sized carport Room for 3 cars with an awesome corner shed.

16. 2026-04-14
    price $95,000 515-char remark

    Show marketing remark (515 chars)

    Senior Community. Spc Rent $1095 PRICE REDUCED $75kOriginal Price was $150,000 in Feb 2026.Seller is ready to move. Immaculate inside and out ! 2 Bedrooms with a Den. Enjoy the quality of a "Homebuilders NW" MFG. Great floor plan with huge front porch and view to the north. Front living room & dining with a large kitchen and pantry.Oak cabinets throughout .Heat pump, lots of windows. landscaped, raised garden beds, sprinkler system, over sized carport Room for 3 cars with an awesome corner shed.

17. 2026-03-24
    price $125,000 515-char remark

    Show marketing remark (515 chars)

    Senior Community. Spc Rent $1095 PRICE REDUCED $75kOriginal Price was $150,000 in Feb 2026.Seller is ready to move. Immaculate inside and out ! 2 Bedrooms with a Den. Enjoy the quality of a "Homebuilders NW" MFG. Great floor plan with huge front porch and view to the north. Front living room & dining with a large kitchen and pantry.Oak cabinets throughout .Heat pump, lots of windows. landscaped, raised garden beds, sprinkler system, over sized carport Room for 3 cars with an awesome corner shed.

18. 2026-02-11
    listed $150,000 Active 515-char remark

    Show marketing remark (515 chars)

    Senior Community. Spc Rent $1095 PRICE REDUCED $75kOriginal Price was $150,000 in Feb 2026.Seller is ready to move. Immaculate inside and out ! 2 Bedrooms with a Den. Enjoy the quality of a "Homebuilders NW" MFG. Great floor plan with huge front porch and view to the north. Front living room & dining with a large kitchen and pantry.Oak cabinets throughout .Heat pump, lots of windows. landscaped, raised garden beds, sprinkler system, over sized carport Room for 3 cars with an awesome corner shed.

19. 2024-07-06
    historical
20. 2024-04-28
    price $165,000
21. 2024-02-06
    listed $175,000 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 1/10 Low
• 🌡 Heat 4/10 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: $26,609
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$375
• − Repairs & maintenance: −$2,129
• − Management: −$2,129
• − Depreciation: −$2,182
• Taxable income: $14,469
• Est. tax owed @ 24.0%: −$3,473
• After-tax cash flow: $11,329/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

Fair 45/100 Moderate rehab

This manufactured home requires moderate repairs and maintenance to improve its condition and value. Upgrades to the interior and exterior can significantly enhance its appeal and marketability.

Repairs flagged

• Moderate Kitchen cabinets — Dated appearance
• Minor Bathroom fixtures — Functional but dated
• Moderate Front porch and siding — Weathered appearance
• Minor Carpeted floors — Signs of wear

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace kitchen cabinets — Modern cabinets improve functionality and aesthetics
• Both Replace bathroom fixtures — Upgraded fixtures enhance functionality and aesthetics
• Both Landscaping improvements — Enhances curb appeal and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Dated appearance	Moderate	$3,000–15,000
Bathroom fixtures · Functional but dated	Minor	$500–3,000
Front porch and siding · Weathered appearance	Moderate	$3,000–15,000
Carpeted floors · Signs of wear	Minor	$500–3,000
Total estimated repair cost · 4 items		$7,000–36,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace kitchen cabinets — Modern cabinets improve functionality and aesthetics ↑
• Both Replace bathroom fixtures — Upgraded fixtures enhance functionality and aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds 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
• City population: 193,601
• 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

-57.1% since first listed

7 events — show timeline

• 2026-05-11 Price Changed $75,000 WVMLS
• 2026-04-14 Price Changed $95,000 WVMLS
• 2026-03-24 Price Changed $125,000 WVMLS
• 2026-02-11 Listed $150,000 WVMLS
• 2024-07-06 Listing Removed — WVMLS
• 2024-04-28 Price Changed $165,000 WVMLS
• 2024-02-06 Listed $175,000 WVMLS