5047 Springfield Ct N · Keizer, OR 97303

$135,000

3 bd · 2.0 ba · 1,404 sqft · Manufactured public records · 36 Days on market

Built 1995 $96/sqft · 135% above area

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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 +9.1/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Schools +3.7/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this beautifully remodeled and move-in ready 3 bedroom, 2 bathroom home offering 1,404 square feet of stylish and comfortable living space in the desirable all-ages community of Spring Meadow Estates in Keizer! Thoughtfully updated from top to bottom, this home features a brand new roof, fresh interior and exterior paint, updated luxury vinyl flooring, soft-close cabinetry, gorgeous quartz countertops, and all new stainless steel appliances that give the kitchen a modern and inviting feel.

Key facts

• Quartz countertops
• Soft-close cabinetry
• New roof

Tags

• REMODELED HOME
• NEW ROOF
• UPDATED LUXURY VINYL FLOORING
• SOFT-CLOSE CABINETRY
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES

Property features AI

Finance

• Other: Property is resales; Located in a manufactured home park (Spring Meadows Estates)
• HOA & community: Land lease in effect (monthly lot rent of $850; lease expires December 31, 2026); Not a senior community

Exterior

• Parking: Detached carport; Driveway parking; Total of 1 covered parking space
• Utilities: Public water; Public sewer; Electric fuel; Internet available via cable and satellite
• Home design: Manufactured home in a park (residential, not attached); Single-level living (one level); Built in 1995; Entry on main level; No notable view
• Construction: Composition roof; Block foundation; Manufactured construction
• Exterior features: Fenced yard; Porch; Tool shed; Lap siding and T-111 siding; Level lot; Paved road access

Interior

• Kitchen: Dishwasher; Microwave; Free-standing gas range; Free-standing range; Free-standing refrigerator; Range hood; Stainless steel appliances; Quartz countertops; Skylight in kitchen; Vaulted ceiling in kitchen
• Bedrooms: Primary bedroom on main level with ceiling fan, vaulted ceiling, walk-in closet, double sinks, and wall-to-wall carpet; Second bedroom on main level with closet and wall-to-wall carpet; Third bedroom on main level with closet and wall-to-wall carpet
• Flooring: Luxury vinyl plank; Wall-to-wall carpet in bedrooms
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Forced air heating; Heat pump cooling
• Interior features: Main-floor laundry; Skylights; Vaulted ceilings; Soaking tub; Luxury vinyl plank flooring; Quartz surfaces; Double pane windows with vinyl frames; Crawl space foundation; Accessibility features including minimal steps and utility room on main level; Main floor bedroom with bath; Parking accessibility
• Laundry & utility: Laundry on main level with utility sink; Hot water provided by electricity

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $135k.

Deal economics

• At list price, monthly cash flow is $659 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.2% vs local median 2.9% in Keizer — 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 80/100 on livability (#56 in OR, #1,918 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A+, crime B+; Watch: commute 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: Keizer Elementary School (561 students, 70% FRL); Claggett Creek Middle School (829 students, 73% FRL); Mcnary High School (2,081 students, 92% FRL) — zoned schools average 78% FRL vs 53% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.7%/yr); 173 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $933 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.
• At projected returns (-3.0% appreciation + 3.7% rent growth), your $38k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $36k; list at $135k implies a 275% gain — meaningful room to come down on a strong offer.

Recommended offer $130,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 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. 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: 1.41% ✓
• Cap rate: 12.15%
• Cash-on-cash: 20.93%
• DSCR: 1.93
• GRM: 5.9

CMA / ARV

• ARV (median comp): $57,540
• List price: $135,000
• Delta: 134.62%
• Verdict: OVERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5167 Springfield Ct N	0.11mi	3/2.0	1,512 (+8%)	11mo	$165,000	$109	73
5056 Briarwood Cir #21	0.26mi	3/2.0	1,333 (-5%)	12mo	$173,000	$130	69
5038 Briarwood Cir	0.26mi	3/2.0	1,476 (+5%)	14mo	$149,000	$101	68
1395 Firview Pl N	0.20mi	3/2.0	1,296 (-8%)	13mo	$134,900	$104	67
5510 Windsor Island Rd N #2	0.71mi	3/2.0	1,440 (+3%)	8mo	$39,500	$27	56
5510 Windsor Island Rd	0.72mi	3/2.0	1,440 (+3%)	8mo	$39,500	$27	55
5510 Windsor Is N #30	0.71mi	2/2.0 (-1)	1,344 (-4%)	1mo	$18,000	$13	54
1055 Lockhaven Dr N #69	0.70mi	2/2.0 (-1)	1,344 (-4%)	4mo	$33,000	$25	52
1055 Lockhaven Dr NE #56	0.70mi	2/2.0 (-1)	1,344 (-4%)	4mo	$40,500	$30	52
1055 Lockhaven Dr N #41	0.70mi	2/2.0 (-1)	1,344 (-4%)	4mo	$55,000	$41	52
1055 Lockhaven Dr	0.74mi	2/2.0 (-1)	1,344 (-4%)	4mo	$40,500	$30	50
1055 N Lockhaven Dr #67	0.70mi	2/2.0 (-1)	1,344 (-4%)	10mo	$59,000	$44	48

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 · 3.74% rent growth · sell at horizon

5-year hold

• IRR: 14.1%
• Equity multiple: 1.57×
• Total profit: $21,517
• Equity at exit: $20,129

10-year hold

• IRR: 23.4%
• Equity multiple: 3.08×
• Total profit: $78,627
• Equity at exit: $11,672

Cash invested: $37,800 (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 97303

• Rents YoY: 3.7%
• Active inventory: 173
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,897 high
• Mortgage (P&I): −$708
• Tax from tax record: −$75 /mo · $903/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $659

Break-even live

Break-even rent $1,063

Max offer price $135,000

Occupancy floor 60%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1102 Orchard Ct N Keizer, OR	2.0–3.0	1.0	955	$1,895	$1.98	43d	1	0.52mi
1063 Koala St N Keizer, OR	2.0–3.0	1.0–2.0	1065	$1,525	$1.43	4d	3	0.55mi
180 Sandy Dr N Unit 196 Keizer, OR	2.0	1.0	875	$1,300	$1.49	23d	1	1.22mi
295 Lakepoint Pl N Keizer, OR	2.0	1.0	936	$1,650	$1.76	23d	1	1.23mi
4848 Elvira Pl N Keizer, OR	3.0	2.5	1838	$2,600	$1.41	43d	2	1.23mi
491 Marino Dr N Unit 495 Keizer, OR	3.0	2.0	1285	$2,350	$1.83	13d	1	1.25mi
205 Lakepoint Pl N Keizer, OR	2.0	1.0	936	$1,650	$1.76	13d	1	1.32mi
208 Lakepoint Pl N Keizer, OR	2.0	1.0	936	$1,650	$1.76	1d	2	1.33mi
597 Rose Park Ln NE Unit 257-614 Keizer, OR	2.0	1.5	875	$1,300	$1.49	13d	1	1.41mi
597 Rose Park Ln NE Unit 257-636 Keizer, OR	2.0	1.5	875	$1,300	$1.49	43d	1	1.41mi
776 Dearborn Ave NE Keizer, OR	3.0	1.0	1230	$2,300	$1.87	43d	1	1.49mi
790 Lockhaven Dr NE Keizer, OR	2.0	1.5	1050	$2,024	$1.93	10d	11	1.50mi

Listing history 20 events

1. 2026-06-18
   days on market $135,000 Active 36 DOM
2. 2026-06-17
   days on market $135,000 Active 35 DOM
3. 2026-06-16
   days on market $135,000 Active 34 DOM
4. 2026-06-15
   days on market $135,000 Active 33 DOM
5. 2026-06-14
   days on market $135,000 Active 31 DOM
6. 2026-06-10
   days on market $135,000 Active 28 DOM
7. 2026-06-09
   days on market $135,000 Active 27 DOM
8. 2026-06-08
   days on market $135,000 Active 26 DOM
9. 2026-06-07
   pricedays on market $135,000 Active 25 DOM
10. 2026-06-03
    days on market $144,900 Active 21 DOM
11. 2026-06-02
    days on market $144,900 Active 20 DOM
12. 2026-06-01
    days on market $144,900 Active 19 DOM
13. 2026-05-31
    days on market $144,900 Active 18 DOM
14. 2026-05-30
    days on market $144,900 Active 17 DOM

    Show marketing remark (510 chars)

    Welcome home to this beautifully remodeled and move-in ready 3 bedroom, 2 bathroom home offering 1,404 square feet of stylish and comfortable living space in the desirable all-ages community of Spring Meadow Estates in Keizer! Thoughtfully updated from top to bottom, this home features a brand new roof, fresh interior and exterior paint, updated luxury vinyl flooring, soft-close cabinetry, gorgeous quartz countertops, and all new stainless steel appliances that give the kitchen a modern and inviting feel.

15. 2026-05-13
    listed $154,900 Active 1606-char remark
16. 2007-08-31
    soldstatus $36,000
17. 2007-08-12
    historical
18. 2007-06-06
    listed $39,000
19. 2005-12-11
    historical
20. 2005-07-11
    listed $36,900

ⓘ 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: $903 · $75/mo
• Projected year-2 tax: $1,310 · $109/mo
• Expected delta: +$407/yr (+$34/mo · 45.0%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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 · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,767
• − Mortgage interest: −$7,562
• − Property taxes: −$903
• − Insurance: −$675
• − Repairs & maintenance: −$1,821
• − Management: −$1,821
• − Depreciation: −$3,927
• Taxable income: $6,057
• Est. tax owed @ 24.0%: −$1,454
• After-tax cash flow: $6,459/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 — Keizer

• Score: 80/100
• State rank: #56
• US rank: #1918

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Keizer, OR
• County: Marion County · 258,219 people
• City population: 40,659
• Metro: Salem, OR
• Population (ZIP): 40,659
• Household income: $84,871
• Rent vs Own: 37.0% rent · 63.0% own
• Severe rent burden: 1297.0

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 (67%)
• Race & ethnicity: White 67% Hispanic / Latino 25% Two or more races 14% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Lithuanian 4% Portuguese 3% Italian 3%
• Foreign-born: 10% · Canada, China
• Languages at home: 83% English-only · Spanish 13% Other Asian/Pacific 1% French/Haitian/Cajun 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: ▼ -428.84%
• Current HPI: 292.0057
• Rent YoY: ▲ 3.74%
• 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

+265.9% since first listed

11 events — show timeline

• 2026-06-04 Price Changed $135,000 WVMLS
• 2026-06-04 Price Changed $135,000 RMLS
• 2026-05-30 Price Changed $144,900 WVMLS
• 2026-05-29 Listed $145,000 WVMLS
• 2026-05-26 Price Changed $144,900 RMLS
• 2026-05-13 Listed $154,900 RMLS
• 2007-08-31 Sold (MLS) $36,000 WVMLS
• 2007-08-12 Listing Removed — WVMLS
• 2007-06-06 Listed $39,000 WVMLS
• 2005-12-11 Listing Removed — WVMLS
• 2005-07-11 Listed $36,900 WVMLS

Property tax history

+2.2%/yr

Latest (2025): $903 · +3.0% YoY. Source: county tax records.