4940 Sunnyside Rd SE Unit F-1 · Salem, OR 97302

$69,000

2 bd · 2.0 ba · 1,020 sqft · Manufactured public records · 28 Days on market

Built 1965 Est $98k · 30% under

---

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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Sweet home and priced to sell quickly! Desired Sunnyside MH Park 55+, close to shopping, bus line, restaurants. Home offers 2 beds + 2 bath (Master bath updated). Lots of storage, landscaped yard, patio + deck (covered). Park rent includes water/ sewer/ garbage/ community room. Buyer must have tenant approval app with park manager. Park rent $410/ month.

Key facts

• Vinyl windows
• Two driveways
• Laundry room

Tags

• LVP FLOORING
• VINYL WINDOWS
• LAUNDRY ROOM
• TWO DRIVEWAYS
• CARPORTS
• TWO SHEDS

Property features AI

Finance

• Other: Home warranty negotiable; No assessments/liens (per listing data)
• HOA & community: Located in Sunnyside Mobile Park; Adult park

Exterior

• Parking: Two garage spaces; Carport; Two driveways with carports on each side
• Utilities: City water; City sewer; Electric water heater
• Home design: Double-wide manufactured home; Adult park (Sunnyside Mobile); Exterior color: white/blue; Back door
• Construction: Built in 1965; Pier foundation; Aluminum siding; Composition roof
• Exterior features: Covered deck; Landscaped yard; Small garden area with roses; Two sheds for storage; Handicap amenities (refer to remarks); Irregular lot

Interior

• Kitchen: Electric range; Microwave included; Range included; Dishwasher; Stainless steel appliances (per remarks); Refrigerator included
• Bedrooms: Master bedroom on the main level; Second bedroom on the main level; Third bedroom on the main level
• Flooring: Vinyl; Luxury vinyl plank (LVP)
• Bathrooms: Two bathrooms on the main level
• Heating & cooling: Electric heating; Heat pump; Forced air
• Interior features: High-speed communication available; Formal dining area; Laundry/utility room on main level
• Laundry & utility: Washer and dryer included; Laundry room on main level

🏷️ Possibly a rental listed for sale. The $69,000 price doesn't fit this home's estimated sale value (~$97,920) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $69k.

Deal economics

• At list price, monthly cash flow is $830 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $69k).
• Recommended offer: $68k (1.5% below list) — sets the bar for market timing.
• Cap rate 20.7% 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); 242 active listings in the ZIP; 40 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 $477 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 + 1.8% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 26y 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 $6k; list at $69k implies a 1050% gain — meaningful room to come down on a strong offer.

Recommended offer $67,965 (1.5% below list)

Questions for the listing agent

1. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
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: 2.29% ✓
• Cap rate: 20.74%
• Cash-on-cash: 51.58%
• DSCR: 3.29
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $97,920
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4940 Sunnyside (C-3) Rd SE Unit C3	0.00mi	2/2.0	1,012 (-1%)	5mo	$97,400	$96	95
4940 Sunnyside (c-3) Rd SE	0.00mi	2/2.0	1,012 (-1%)	5mo	$97,400	$96	95
4940 SE Sunnyside Rd Unit D2	0.00mi	2/2.0	970 (-5%)	1mo	$125,900	$130	91
4940 Sunnyside Rd SE Unit K-15	0.07mi	2/2.0	1,056 (+4%)	5mo	$50,000	$47	87
4995 SE Sunnyside Rd Unit W21	0.14mi	2/2.0	960 (-6%)	3mo	$115,000	$120	81
4940 SE Sunnyside Rd Unit G8	0.00mi	2/2.0	1,080 (+6%)	21mo	$46,500	$43	73
4995 SE Sunnyside Rd Unit W33	0.11mi	2/2.0	1,120 (+10%)	14mo	$170,000	$152	67
4995 Sunnyside Rd #14	0.11mi	2/2.0	1,152 (+13%)	10mo	$55,000	$48	66
4940 Sunnyside Rd Rd SE Unit H-4	0.00mi	2/2.0	1,152 (+13%)	24mo	$35,000	$30	59

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: 48.2%
• Equity multiple: 3.06×
• Total profit: $39,874
• Equity at exit: $10,288

10-year hold

• IRR: 53.3%
• Equity multiple: 5.94×
• Total profit: $95,468
• Equity at exit: $5,966

Cash invested: $19,320 (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: 242
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,580 high
• Mortgage (P&I): −$362
• Tax from tax record: −$27 /mo · $324/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $830

Break-even live

Break-even rent $529

Max offer price $69,000

Occupancy floor 42%

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4890 Sunnyside Rd SE Unit 4894 Salem, OR	2.0	1.5	995	$1,495	$1.50	13d	1	0.09mi
4810 Sunnyside Rd SE Salem, OR	1.0–3.0	1.0	737	$1,360	$1.84	13d	1	0.09mi
4860 8th Ave SE Salem, OR	2.0	1.0	980	$1,795	$1.83	23d	1	0.15mi
860 Boone Rd SE Salem, OR	2.0	1.0	840	$1,538	$1.83	21d	3	0.20mi
4685 Sunnyside Rd SE Unit 4689-208 Salem, OR	2.0	2.0	950	$1,228	$1.29	43d	1	0.25mi
1291 Boone Rd SE Unit 840-1299H Salem, OR	2.0	1.0	950	$1,414	$1.49	13d	1	0.28mi
1253 Royvonne Ave SE Unit 29 Salem, OR	2.0	1.0	700	$1,175	$1.68	23d	1	0.28mi
1253 Royvonne Ave SE Unit 03 Salem, OR	2.0	1.0	700	$1,150	$1.64	23d	1	0.28mi
1291 Boone Rd SE Unit 840-1291C Salem, OR	2.0	1.0	950	$1,349	$1.42	43d	1	0.28mi
1291 Boone Rd SE Unit 840-1297I Salem, OR	2.0	1.0	950	$1,399	$1.47	23d	1	0.28mi
1253 Royvonne Ave SE Salem, OR	2.0	1.0	700	$1,162	$1.66	43d	4	0.28mi
1194 Barnes Ave SE Salem, OR	1.0–2.0	1.0	807	$1,499	$1.86	13d	3	0.29mi
5205 9th Ct SE Salem, OR	3.0	2.0	1140	$2,195	$1.93	13d	1	0.30mi
4883 7th Ave SE Salem, OR	3.0	1.0	1012	$2,000	$1.98	43d	1	0.30mi
5131 Sycan Ct SE Salem, OR	3.0	2.0	1296	$2,250	$1.74	43d	1	0.33mi
5248 Baxter Ct SE Salem, OR	2.0	1.5	1105	$1,750	$1.58	43d	1	0.43mi
5290 Baxter Ct SE Salem, OR	2.0	1.5	1125	$1,900	$1.69	13d	1	0.45mi
5031 Big Rock Ct SE Salem, OR	3.0	2.0	1314	$2,700	$2.05	43d	1	0.49mi
4352 10th Ct SE Unit 4357 Salem, OR	2.0	1.0	750	$1,100	$1.47	43d	1	0.51mi
1250 Baxter Rd SE Unit 1276 Salem, OR	3.0	2.5	1289	$2,395	$1.86	13d	1	0.58mi
5463-5487 Commercial St SE Apt 40 Salem, OR	2.0	1.0	889	$1,250	$1.41	21d	1	0.65mi
5463-5487 Commercial St SE Unit 04 Salem, OR	2.0	1.0	889	$1,175	$1.32	43d	1	0.65mi
5463-5487 Commercial St SE Unit 41 Salem, OR	2.0	1.0	889	$1,250	$1.41	23d	1	0.65mi
450 Lori Ave SE Salem, OR	3.0	2.0	1410	$2,395	$1.70	13d	1	0.70mi
5535 Woodside Dr SE Unit 442-60 Salem, OR	2.0	1.0	982	$1,399	$1.42	43d	1	0.73mi
5162 Lone Oak Rd SE Salem, OR	3.0	2.0	1072	$2,095	$1.95	23d	1	0.81mi
5787 Sunstone St SE Unit 5787 Salem, OR	3.0	1.5	1192	$1,645	$1.38	23d	1	0.88mi
4082 Commercial St SE Salem, OR	2.0	1.0	950	$1,250	$1.32	23d	1	0.98mi
5512 Murray St SE Salem, OR	3.0	2.0	1275	$2,645	$2.07	21d	1	1.00mi
1543 Wiltsey Rd SE Salem, OR	2.0	1.0–2.0	1043	$1,475	$1.41	13d	4	1.07mi
5085 Kaufman Loop SE Unit 5085 Salem, OR	2.0	1.5	1020	$1,750	$1.72	43d	1	1.07mi
5775 Commercial St SE Salem, OR	1.0–3.0	1.0–2.0	779	$1,970	$2.53	23d	17	1.15mi
5775 Commercial St SE Salem, OR	1.0–3.0	1.0–2.0	779	$1,900	$2.44	13d	47	1.15mi
190 Boone Rd SE Salem, OR	2.0–3.0	1.5	1030	$1,550	$1.50	13d	1	1.16mi
4966 Liberty Rd S Unit 128 Salem, OR	2.0	2.0	975	$1,295	$1.33	23d	1	1.18mi
4966 Liberty Rd S Unit 118 Salem, OR	2.0	2.0	975	$1,295	$1.33	43d	1	1.18mi
4950 Liberty Rd S Unit 56 Salem, OR	1.0	1.0	700	$1,095	$1.56	43d	1	1.21mi
1410 Jonmart Ave SE Salem, OR	3.0	2.0	1096	$1,995	$1.82	13d	1	1.21mi
4958 Liberty Rd S Unit 91 Salem, OR	2.0	2.0	975	$1,295	$1.33	43d	1	1.21mi
5952 Park Ct SE Salem, OR	1.0–2.0	1.0	742	$1,299	$1.75	13d	11	1.22mi

Listing history 24 events

1. 2026-06-18
   days on market $69,000 Active 28 DOM
2. 2026-06-17
   days on market $69,000 Active 27 DOM
3. 2026-06-16
   days on market $69,000 Active 26 DOM
4. 2026-06-15
   days on market $69,000 Active 25 DOM
5. 2026-06-14
   days on market $69,000 Active 23 DOM
6. 2026-06-10
   days on market $69,000 Active 20 DOM
7. 2026-06-09
   days on market $69,000 Active 19 DOM
8. 2026-06-08
   days on market $69,000 Active 18 DOM
9. 2026-06-07
   days on market $69,000 Active 17 DOM
10. 2026-06-03
    days on market $69,000 Active 13 DOM
11. 2026-06-02
    days on market $69,000 Active 12 DOM
12. 2026-06-01
    days on market $69,000 Active 11 DOM
13. 2026-05-31
    days on market $69,000 Active 10 DOM
14. 2026-05-30
    days on market $69,000 Active 9 DOM
15. 2026-05-21
    listed $69,000 Active
16. 2015-12-24
    soldstatus $6,000 Sold 356-char remark

    Show marketing remark (356 chars)

    Sweet home and priced to sell quickly! Desired Sunnyside MH Park 55+, close to shopping, bus line, restaurants. Home offers 2 beds + 2 bath (Master bath updated). Lots of storage, landscaped yard, patio + deck (covered). Park rent includes water/ sewer/ garbage/ community room. Buyer must have tenant approval app with park manager. Park rent $410/ month.

17. 2015-12-11
    historical Active under Contract 356-char remark

    Show marketing remark (356 chars)

    Sweet home and priced to sell quickly! Desired Sunnyside MH Park 55+, close to shopping, bus line, restaurants. Home offers 2 beds + 2 bath (Master bath updated). Lots of storage, landscaped yard, patio + deck (covered). Park rent includes water/ sewer/ garbage/ community room. Buyer must have tenant approval app with park manager. Park rent $410/ month.

18. 2015-11-11
    listed $6,500 Active 356-char remark

    Show marketing remark (356 chars)

    Sweet home and priced to sell quickly! Desired Sunnyside MH Park 55+, close to shopping, bus line, restaurants. Home offers 2 beds + 2 bath (Master bath updated). Lots of storage, landscaped yard, patio + deck (covered). Park rent includes water/ sewer/ garbage/ community room. Buyer must have tenant approval app with park manager. Park rent $410/ month.

19. 2012-11-21
    historical 379-char remark

    Show marketing remark (379 chars)

    Cozy home for your qualified buyer! The price is right for this 2 bedroom/ 2 bath M.H. in Sunnyside MH park 55+ in SE area & close to shopping, busline, fwy. Home offers D/W, Lots of storage, landscaped yard, park rent includes water, sewer & garbage, community room, buyer must be approved as tenants with park manager. New roof in 2007 & new vinyl windows in 2000.

20. 2012-11-21
    soldstatus $8,000 Sold 379-char remark

    Show marketing remark (379 chars)

    Cozy home for your qualified buyer! The price is right for this 2 bedroom/ 2 bath M.H. in Sunnyside MH park 55+ in SE area & close to shopping, busline, fwy. Home offers D/W, Lots of storage, landscaped yard, park rent includes water, sewer & garbage, community room, buyer must be approved as tenants with park manager. New roof in 2007 & new vinyl windows in 2000.

21. 2012-10-30
    status Pending 379-char remark

    Show marketing remark (379 chars)

    Cozy home for your qualified buyer! The price is right for this 2 bedroom/ 2 bath M.H. in Sunnyside MH park 55+ in SE area & close to shopping, busline, fwy. Home offers D/W, Lots of storage, landscaped yard, park rent includes water, sewer & garbage, community room, buyer must be approved as tenants with park manager. New roof in 2007 & new vinyl windows in 2000.

22. 2012-09-14
    listed $9,900 Active 379-char remark

    Show marketing remark (379 chars)

    Cozy home for your qualified buyer! The price is right for this 2 bedroom/ 2 bath M.H. in Sunnyside MH park 55+ in SE area & close to shopping, busline, fwy. Home offers D/W, Lots of storage, landscaped yard, park rent includes water, sewer & garbage, community room, buyer must be approved as tenants with park manager. New roof in 2007 & new vinyl windows in 2000.

23. 2000-05-31
    soldstatus $13,000
24. 2000-03-20
    listed $12,900

ⓘ 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: $324 · $27/mo
• Projected year-2 tax: $669 · $56/mo
• Expected delta: +$346/yr (+$29/mo · 106.8%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥91°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: $18,957
• − Mortgage interest: −$3,865
• − Property taxes: −$324
• − Insurance: −$345
• − Repairs & maintenance: −$1,517
• − Management: −$1,517
• − Depreciation: −$2,007
• Taxable income: $9,383
• Est. tax owed @ 24.0%: −$2,252
• After-tax cash flow: $7,713/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

+434.9% since first listed

10 events — show timeline

• 2026-05-21 Listed $69,000 WVMLS
• 2015-12-24 Sold (MLS) $6,000 WVMLS
• 2015-12-11 Contingent — WVMLS
• 2015-11-11 Listed $6,500 WVMLS
• 2012-11-21 Listing Removed — WVMLS
• 2012-11-21 Sold (MLS) $8,000 WVMLS
• 2012-10-30 Pending — WVMLS
• 2012-09-14 Listed $9,900 WVMLS
• 2000-05-31 Sold (MLS) $13,000 RMLS
• 2000-03-20 Listed $12,900 RMLS

Property tax history

+6.2%/yr

Latest (2018): $324 · +40.3% YoY. Source: county tax records.