5422 Portland Rd NE #80 · Salem, OR 97305

$79,950

2 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 10 Days on market

Built 1978 Est $70k · 14% over

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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 +2.5/5.0
• ARV discount +1.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Bring your scrubber. Carpet needs to be pulled. Needs paint Otherwise a little sweat Equity and you will have a very nice home in a 55+ Community on a corner lot.Space rent is 1095.00 WSG included. The good news......this home has actually had some updates not long ago. .THE PRICE IS FIRM.CASH ONLY. We can do a quick close on this one.

Key facts

• Brand-new roof
• Modern drywall
• Fresh interior paint

Tags

• BRAND-NEW ROOF
• FRESH INTERIOR PAINT
• MODERN DRYWALL
• NEW SHAKER-STYLE CABINETS
• SLEEK COUNTERTOPS
• STAINLESS STEEL APPLIANCES

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $80k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Cap rate 23.9% 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; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $552 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 $22k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 10y 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 $12k; list at $80k implies a 566% gain — meaningful room to come down on a strong offer.

Recommended offer $79,950

Questions for the listing agent

1. Built in 1978 — 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: 2.70% ✓
• Cap rate: 23.90%
• Cash-on-cash: 62.87%
• DSCR: 3.80
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $69,888
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5422 Portland Rd NE #80	0.00mi	3/2.0 (+1)	1,344 (0%)	1mo	$81,000	$60	94
5422 Portland Rd NE #47	0.00mi	3/2.0 (+1)	1,344 (0%)	4mo	$35,000	$26	92
5422 Portland Rd NE #24	0.00mi	2/2.0	1,440 (+7%)	1mo	$60,000	$42	87
5422 Portland Rd NE #37	0.00mi	3/2.0 (+1)	1,296 (-4%)	4mo	$39,000	$30	86
4353 Lemon St NE	0.18mi	3/2.0 (+1)	1,386 (+3%)	4mo	$57,500	$41	78
5422 Portland Rd NE #56	0.00mi	2/2.0	1,152 (-14%)	3mo	$38,500	$33	74
5422 Portland Rd NE #139	0.00mi	3/2.0 (+1)	1,512 (+12%)	3mo	$85,750	$57	72
4230 Hazelgreen Rd NE #52	0.19mi	2/2.0	1,200 (-11%)	3mo	$32,000	$27	71
4374 Larch Lp NE	0.17mi	2/2.0	1,536 (+14%)	0mo	$99,900	$65	68
4293 Lemon St NE	0.16mi	2/2.0	1,152 (-14%)	3mo	$60,000	$52	66
5279 Gold Dust St NE #220	0.20mi	3/2.0 (+1)	1,512 (+12%)	4mo	$130,000	$86	61
5151 Copper Creek Loop #183	0.28mi	3/2.0 (+1)	1,512 (+12%)	2mo	$130,000	$86	60

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: 61.9%
• Equity multiple: 3.76×
• Total profit: $61,762
• Equity at exit: $11,921

10-year hold

• IRR: 66.4%
• Equity multiple: 7.70×
• Total profit: $150,047
• Equity at exit: $6,913

Cash invested: $22,386 (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: 3.1×

Monthly cashflow live

• Estimated rent: $2,158 high
• Mortgage (P&I): −$419
• Tax from tax record: −$79 /mo · $952/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$453
• Net cashflow: $1,173

Break-even live

Break-even rent $673

Max offer price $79,950

Occupancy floor 41%

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: $19,988
• Closing costs: $2,398
• Reserves months: —
• Total cash needed: —

Rent comps 11 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	14d	20	0.35mi
4115 Geranium Loop NE Salem, OR	3.0	2.5	1316	$2,250	$1.71	14d	1	0.64mi
4927 Orbit Ave NE Salem, OR	3.0	2.5	1598	$2,395	$1.50	21d	1	0.76mi
4823 Settlers Dr NE Salem, OR	3.0	2.0	1228	$2,395	$1.95	43d	1	0.78mi
5034 Armstrong Ave NE Salem, OR	3.0	2.5	1400	$2,550	$1.82	43d	1	0.82mi
4040 Hayesville Dr NE Salem, OR	1.0–3.0	1.0–2.0	927	$1,695	$1.83	14d	25	0.92mi
5150 Constellation Ave NE Salem, OR	3.0	2.0	1869	$2,795	$1.50	14d	1	0.93mi
4624 Lancaster Dr NE Salem, OR	2.0–3.0	2.0–2.5	963	$1,495	$1.55	14d	10	1.05mi
4473 47th Ave NE Salem, OR	3.0	1.0	1244	$2,200	$1.77	43d	1	1.25mi
3942 Ward Dr NE Salem, OR	1.0–2.0	1.0–2.0	775	$1,550	$2.00	43d	3	1.44mi
4334 Ward Pl NE Unit 1 Salem, OR	3.0	1.5	1250	$1,775	$1.42	43d	1	1.44mi

Listing history 10 events

1. 2026-04-23
   status Pending
2. 2026-04-13
   listed $79,950 Active
3. 2026-03-14
   price $79,500
4. 2025-07-25
   soldstatus $12,000 Sold 339-char remark

   Show marketing remark (339 chars)

   Bring your scrubber. Carpet needs to be pulled. Needs paint Otherwise a little sweat Equity and you will have a very nice home in a 55+ Community on a corner lot.Space rent is 1095.00 WSG included. The good news......this home has actually had some updates not long ago. .THE PRICE IS FIRM.CASH ONLY. We can do a quick close on this one.

5. 2025-07-18
   historical Active under Contract 339-char remark

   Show marketing remark (339 chars)

   Bring your scrubber. Carpet needs to be pulled. Needs paint Otherwise a little sweat Equity and you will have a very nice home in a 55+ Community on a corner lot.Space rent is 1095.00 WSG included. The good news......this home has actually had some updates not long ago. .THE PRICE IS FIRM.CASH ONLY. We can do a quick close on this one.

6. 2025-05-13
   listed $25,000 Active 339-char remark

   Show marketing remark (339 chars)

   Bring your scrubber. Carpet needs to be pulled. Needs paint Otherwise a little sweat Equity and you will have a very nice home in a 55+ Community on a corner lot.Space rent is 1095.00 WSG included. The good news......this home has actually had some updates not long ago. .THE PRICE IS FIRM.CASH ONLY. We can do a quick close on this one.

7. 2016-06-02
   soldstatus $28,750 Sold
8. 2016-05-02
   historical Active under Contract
9. 2016-05-02
   listed $28,750 Active
10. 1992-11-14
    soldstatus $19,000

ⓘ 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: $952 · $79/mo
• Projected year-2 tax: $952 · $79/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $25,895
• − Mortgage interest: −$4,478
• − Property taxes: −$952
• − Insurance: −$400
• − Repairs & maintenance: −$2,072
• − Management: −$2,072
• − Depreciation: −$2,326
• Taxable income: $13,595
• Est. tax owed @ 24.0%: −$3,263
• After-tax cash flow: $10,811/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

+320.8% since first listed

10 events — show timeline

• 2026-04-23 Pending — WVMLS
• 2026-04-13 Listed $79,950 WVMLS
• 2026-03-14 Price Changed $79,500 WVMLS
• 2025-07-25 Sold (MLS) $12,000 WVMLS
• 2025-07-18 Contingent — WVMLS
• 2025-05-13 Listed $25,000 WVMLS
• 2016-06-02 Sold (MLS) $28,750 WVMLS
• 2016-05-02 Contingent — WVMLS
• 2016-05-02 Listed $28,750 WVMLS
• 1992-11-14 Sold (Public Records) $19,000 Public Records

Property tax history

+9.2%/yr

Latest (2025): $952 · +7.7% YoY. Source: county tax records.