5422 Portland Rd · Salem, OR 97305

$60,000

3 bd · 2.0 ba · 8,690 sqft · Land public records · 3 Days on market

Built 1987

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• 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

Come check out this very cute and clean 2 bed / 2 bath home in a park. New asphalt roof in 2017, new HVAC in 2021, new carpet in 2021. Covered enclosed patio with lots of extra room. Adult park 55+ (one resident can be as young as 45)

Key facts

• 2 garage spots
• Built 1987
• Listed 3 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $60k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Cap rate 33.3% 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: 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.
• Zoned schools: Clear Lake Elementary School (336 students, 57% FRL); Whiteaker Middle School (682 students, 90% FRL); Mcnary High School (2,081 students, 92% FRL) — zoned schools average 80% FRL vs 53% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 177 active listings in the ZIP; 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 $415 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 $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 16y 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.

Recommended offer $60,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
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: 3.72% ✓
• Cap rate: 33.27%
• Cash-on-cash: 96.33%
• DSCR: 5.29
• GRM: 2.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 97.3%
• Equity multiple: 5.54×
• Total profit: $76,208
• Equity at exit: $8,946

10-year hold

• IRR: 99.9%
• Equity multiple: 11.54×
• Total profit: $177,103
• Equity at exit: $5,188

Cash invested: $16,800 (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 97305

• Active inventory: 177
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $2,232 medium
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$469
• Net cashflow: $1,349

Break-even live

Break-even rent $525

Max offer price $60,000

Occupancy floor 35%

Sensitivity live

Price	-10% $1,390	-5% $1,369	+0% $1,349	+5% $1,328	+10% $1,307
Rent	-10% $1,172	-5% $1,260	+0% $1,349	+5% $1,437	+10% $1,525
Rate	-1.0pp $1,379	-0.5pp $1,364	base $1,349	+0.5pp $1,333	+1.0pp $1,317

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-07
   days on market $60,000 Pending 3 DOM
2. 2026-04-20
   status Pending
3. 2026-04-20
   listed $60,000 Active
4. 2023-07-24
   soldstatus $60,000 Closed 234-char remark

   Show marketing remark (234 chars)

   Come check out this very cute and clean 2 bed / 2 bath home in a park. New asphalt roof in 2017, new HVAC in 2021, new carpet in 2021. Covered enclosed patio with lots of extra room. Adult park 55+ (one resident can be as young as 45)

5. 2023-06-08
   status Pending 234-char remark

   Show marketing remark (234 chars)

   Come check out this very cute and clean 2 bed / 2 bath home in a park. New asphalt roof in 2017, new HVAC in 2021, new carpet in 2021. Covered enclosed patio with lots of extra room. Adult park 55+ (one resident can be as young as 45)

6. 2023-03-14
   listed $75,000 Active 234-char remark

   Show marketing remark (234 chars)

   Come check out this very cute and clean 2 bed / 2 bath home in a park. New asphalt roof in 2017, new HVAC in 2021, new carpet in 2021. Covered enclosed patio with lots of extra room. Adult park 55+ (one resident can be as young as 45)

7. 2011-04-20
   soldstatus $11,000 Sold
8. 2011-04-06
   status Pending
9. 2010-11-06
   status Active
10. 2010-11-04
    historical
11. 2010-05-03
    listed $15,000 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 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: $26,784
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$300
• − Repairs & maintenance: −$2,143
• − Management: −$2,143
• − Depreciation: −$1,745
• Taxable income: $16,192
• Est. tax owed @ 24.0%: −$3,886
• After-tax cash flow: $12,298/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
• 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

+300.0% since first listed

10 events — show timeline

• 2026-04-20 Pending — RMLS
• 2026-04-20 Listed $60,000 RMLS
• 2023-07-24 Sold (MLS) $60,000 RMLS
• 2023-06-08 Pending — RMLS
• 2023-03-14 Listed $75,000 RMLS
• 2011-04-20 Sold (MLS) $11,000 RMLS
• 2011-04-06 Pending — RMLS
• 2010-11-06 Relisted — RMLS
• 2010-11-04 Delisted — RMLS
• 2010-05-03 Listed $15,000 RMLS

Property tax history

+63.4%/yr

Latest (2020): $110,338 · +2.3% YoY. Source: county tax records.