4940 Sunnyside Rd SE Unit K-13 · Salem, OR 97302

$89,900

2 bd · 2.0 ba · 1,536 sqft · Manufactured · 112 Days on market

Built 1978 Average condition $59/sqft · 40% above area Est $64k · 40% over ↓ 10% since listing

---

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 +3.0/5.0
• Condition / age +2.8/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great open floor plan , in 55+ Sunnyside Mobile Park, Rent is $815, Walk into large living room, formal dining room. Large kitchen with lots of cabinets, Mudroom off back door, / Utility room with built in Sewing /desk, bathroom walk thru to the guest bedroom, FR off the kitchen, Primary bedroom in back with large bathroom. Sliding door to the covered porch, off back door is the shed, Two driveways and extra parking spaces.

Key facts

• Open floor plan
• Formal dining room
• Utility room

Tags

• OPEN FLOOR PLAN
• LARGE LIVING ROOM
• FORMAL DINING ROOM
• LARGE KITCHEN
• MUDROOM
• UTILITY ROOM

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $90k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $969 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $82k (9.0% below list) — sets the bar for market timing.
• Cap rate 19.2% 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; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $622 of loan paydown is wiped out by about $3k 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 $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 112 days — a 9% lower offer ($82k) is reasonable based on typical stale-listing flexibility.

Recommended offer $81,809 (9.0% below list)

Questions for the listing agent

1. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 2.24% ✓
• Cap rate: 19.23%
• Cash-on-cash: 46.19%
• DSCR: 3.06
• GRM: 3.7

CMA / ARV

• ARV (median comp): $64,000
• List price: $89,900
• Delta: 40.47%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4940 Sunnyside Rd SE Unit H5	0.06mi	2/2.0	1,344 (-12%)	4mo	$64,000	$48	73
4940 SE Sunnyside Rd Unit B-5	0.06mi	2/2.0	1,344 (-12%)	16mo	$75,000	$56	63
4940 Sunnyside #G2 Rd SE Unit G-2	0.10mi	2/2.0	1,368 (-11%)	19mo	$50,000	$37	62
1010 Barnes Ave SE	0.21mi	3/2.0 (+1)	1,620 (+6%)	22mo	$372,000	$230	58

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: 42.1%
• Equity multiple: 2.78×
• Total profit: $44,850
• Equity at exit: $13,404

10-year hold

• IRR: 47.7%
• Equity multiple: 5.34×
• Total profit: $109,329
• Equity at exit: $7,773

Cash invested: $25,172 (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: 3.7×

Monthly cashflow live

• Estimated rent: $2,013 high
• Mortgage (P&I): −$471
• Tax est. 1.5%: −$112 /mo · $1,348/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $969

Break-even live

Break-even rent $786

Max offer price $89,900

Occupancy floor 47%

Sensitivity live

Price	-10% $1,031	-5% $1,000	+0% $969	+5% $938	+10% $907
Rent	-10% $810	-5% $889	+0% $969	+5% $1,048	+10% $1,128
Rate	-1.0pp $1,014	-0.5pp $992	base $969	+0.5pp $946	+1.0pp $922

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5205 9th Ct SE Salem, OR	3.0	2.0	1140	$2,195	$1.93	14d	1	0.29mi
5131 Sycan Ct SE Salem, OR	3.0	2.0	1296	$2,250	$1.74	44d	1	0.30mi
5248 Baxter Ct SE Salem, OR	2.0	1.5	1105	$1,750	$1.58	44d	1	0.46mi
5290 Baxter Ct SE Salem, OR	2.0	1.5	1125	$1,900	$1.69	14d	1	0.48mi
5455 Norma Ave SE Salem, OR	3.0	2.0	1669	$2,595	$1.55	44d	1	0.52mi
5031 Big Rock Ct SE Salem, OR	3.0	2.0	1314	$2,700	$2.05	44d	1	0.54mi
1250 Baxter Rd SE Unit 1276 Salem, OR	3.0	2.5	1289	$2,395	$1.86	14d	1	0.61mi
450 Lori Ave SE Salem, OR	3.0	2.0	1410	$2,395	$1.70	14d	1	0.65mi
5162 Lone Oak Rd SE Salem, OR	3.0	2.0	1072	$2,095	$1.95	24d	1	0.76mi
5787 Sunstone St SE Unit 5787 Salem, OR	3.0	1.5	1192	$1,645	$1.38	24d	1	0.88mi
5512 Murray St SE Salem, OR	3.0	2.0	1275	$2,645	$2.07	21d	1	1.04mi
1543 Wiltsey Rd SE Salem, OR	2.0	1.0–2.0	1043	$1,475	$1.41	14d	4	1.09mi
190 Boone Rd SE Salem, OR	2.0–3.0	1.5	1030	$1,550	$1.50	14d	1	1.11mi
4752 Liberty Rd S Salem, OR	2.0	2.0	1011	$1,745	$1.73	14d	6	1.18mi
1410 Jonmart Ave SE Salem, OR	3.0	2.0	1096	$1,995	$1.82	14d	1	1.22mi
5815 Reed Ln SE Unit 133 Salem, OR	2.0	2.5	1198	$1,995	$1.67	24d	1	1.26mi
4021 Village Center Dr SE Salem, OR	3.0	2.5	1665	$3,200	$1.92	44d	1	1.26mi
1544 Fircrest Ct SE Salem, OR	2.0	1.5	1296	$1,850	$1.43	24d	1	1.27mi
5823 Reed Ln SE Unit 112 Salem, OR	2.0	2.5	1198	$1,995	$1.67	24d	1	1.27mi
522 Inverness Dr SE Salem, OR	3.0	2.0	1888	$2,900	$1.54	14d	1	1.28mi
3955 Outward Rd SE Salem, OR	1.0–3.0	1.0–2.0	970	$1,824	$1.88	14d	20	1.30mi
636 Browning Ave S Unit 636 Salem, OR	3.0	1.5	1104	$1,950	$1.77	24d	1	1.31mi
6150 Fircrest St SE Unit 6160 Salem, OR	3.0	1.5	1140	$2,050	$1.80	14d	1	1.31mi
6150 Fircrest St SE Salem, OR	3.0	1.5	1140	$2,050	$1.80	14d	1	1.31mi
1097 Hermitage Way S Salem, OR	2.0	1.0	1050	$1,295	$1.23	24d	1	1.33mi
5943 Blue River Dr SE Salem, OR	3.0	3.0	1472	$2,395	$1.63	44d	1	1.34mi
1073 Hermitage Way S Unit 42 Salem, OR	2.0	1.0	1050	$1,295	$1.23	24d	1	1.35mi
3758 Mica View Ct SE Unit 3729 Salem, OR	2.0	2.0	1165	$1,599	$1.37	44d	1	1.39mi
3758 Mica View Ct SE Unit 3750 Salem, OR	2.0	2.0	1165	$1,565	$1.34	44d	1	1.39mi
3758 Mica View Ct SE Salem, OR	2.0	1.5–2.0	995	$1,595	$1.60	14d	2	1.39mi
1370 Boone Rd S Salem, OR	2.0	2.0	1099	$1,725	$1.57	24d	1	1.42mi
1951 Madras St SE Salem, OR	2.0	2.5	1465	$1,975	$1.35	21d	1	1.42mi
1691 Waln Dr SE Salem, OR	1.0–2.0	1.0–2.0	955	$1,725	$1.81	14d	6	1.44mi
3668 Liberty Rd S Unit 22 Salem, OR	2.0	1.5	1150	$1,395	$1.21	44d	1	1.44mi
2315 Strong Heights Ln SE Salem, OR	2.0–3.0	2.0–2.5	1087	$1,850	$1.70	44d	1	1.45mi
6127 Blue River Dr SE Salem, OR	3.0	2.5	1531	$2,450	$1.60	44d	1	1.46mi
2087 Audubon Ave SE Salem, OR	3.0	2.5	1325	$3,725	$2.81	24d	1	1.47mi
5423 Monterey Dr SE Salem, OR	3.0	2.0	1457	$2,295	$1.58	24d	1	1.48mi
3650 Liberty Rd S Salem, OR	2.0	1.0	1150	$1,395	$1.21	44d	1	1.49mi

Listing history 16 events

1. 2026-06-18
   days on market $89,900 Active 112 DOM
2. 2026-06-17
   days on market $89,900 Active 111 DOM
3. 2026-06-16
   days on market $89,900 Active 110 DOM
4. 2026-06-15
   days on market $89,900 Active 109 DOM
5. 2026-06-14
   days on market $89,900 Active 107 DOM
6. 2026-06-10
   days on market $89,900 Active 104 DOM
7. 2026-06-09
   days on market $89,900 Active 103 DOM
8. 2026-06-08
   days on market $89,900 Active 102 DOM
9. 2026-06-07
   days on market $89,900 Active 101 DOM
10. 2026-06-03
    days on market $89,900 Active 97 DOM
11. 2026-06-02
    days on market $89,900 Active 96 DOM
12. 2026-06-01
    days on market $89,900 Active 95 DOM
13. 2026-05-31
    days on market $89,900 Active 94 DOM
14. 2026-05-30
    days on market $89,900 Active 93 DOM
15. 2026-05-07
    price $89,900 427-char remark

    Show marketing remark (427 chars)

    Great open floor plan , in 55+ Sunnyside Mobile Park, Rent is $815, Walk into large living room, formal dining room. Large kitchen with lots of cabinets, Mudroom off back door, / Utility room with built in Sewing /desk, bathroom walk thru to the guest bedroom, FR off the kitchen, Primary bedroom in back with large bathroom. Sliding door to the covered porch, off back door is the shed, Two driveways and extra parking spaces.

16. 2026-02-26
    listed $99,500 Active 427-char remark

    Show marketing remark (427 chars)

    Great open floor plan , in 55+ Sunnyside Mobile Park, Rent is $815, Walk into large living room, formal dining room. Large kitchen with lots of cabinets, Mudroom off back door, / Utility room with built in Sewing /desk, bathroom walk thru to the guest bedroom, FR off the kitchen, Primary bedroom in back with large bathroom. Sliding door to the covered porch, off back door is the shed, Two driveways and extra parking spaces.

ⓘ 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 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: $24,155
• − Mortgage interest: −$5,036
• − Property taxes: −$1,348
• − Insurance: −$450
• − Repairs & maintenance: −$1,932
• − Management: −$1,932
• − Depreciation: −$2,615
• Taxable income: $10,841
• Est. tax owed @ 24.0%: −$2,602
• After-tax cash flow: $9,025/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

Average 55/100 Cosmetic rehab

This manufactured home has average condition with cosmetic updates needed to enhance its curb appeal and interior aesthetics, increasing both resale and rental value.

Repairs flagged

• Minor Exterior siding — Weathered appearance
• Minor Kitchen cabinets — Appears dated
• Minor Bathroom fixtures — Appears dated

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace carpeted floors — Hardwood or tile flooring would increase both resale and rental value
• Both Update kitchen cabinets and countertops — Modern cabinets and countertops would significantly boost both resale and rental value
• Both Update bathroom fixtures and tile — Modern fixtures and tile would enhance both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Weathered appearance	Minor	$500–3,000
Kitchen cabinets · Appears dated	Minor	$500–3,000
Bathroom fixtures · Appears dated	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace carpeted floors — Hardwood or tile flooring would increase both resale and rental value ↑
• Both Update kitchen cabinets and countertops — Modern cabinets and countertops would significantly boost both resale and rental value ↑
• Both Update bathroom fixtures and tile — Modern fixtures and tile would enhance both resale and rental 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
• 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

-9.6% since first listed

2 events — show timeline

• 2026-05-07 Price Changed $89,900 WVMLS
• 2026-02-26 Listed $99,500 WVMLS