4374 Larch Lp NE · Salem, OR 97305

$99,900

2 bd · 2.0 ba · 1,536 sqft · Manufactured public records · 13 Days on market

Built 1980 Est $92k · 8% over

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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
• Livability +4.0/5.0
• ARV discount +3.7/15.0
• 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

55+ Park -ALL FURNITURE, down to the linens are included in Sale. A very nice home. Enjoy your new peaceful and quiet space to relax. Featuring two spacious covered decks, large lot with gardens, UG sprinklers, a gardeners delight. Two Large Sheds with shelving. Beautifully and meticulously maintained, move in ready 1536' home with newer appliances, a new '23 TRANE heat pump. Spacious primary in-suite. Lots of natural light. Perfect location close to I-5 and Keizer Station. Fridge & W/D included.

Key facts

• Functional kitchen
• Large yard
• New roof

Tags

• BRIGHT OPEN LIVING AREA
• FUNCTIONAL KITCHEN
• PRIVATE PRIMARY SUITE
• NEW ROOF
• LARGE YARD
• GARDEN SPACE

Property features AI

Finance

• Other: Mobile home make Silvercrest, model Chalet, size 24', serial #234929; Park name: Shady Acres MHP; Adult park designation: Yes
• HOA & community: Located in a 55+ community (Shady Acres MHP); Home warranty negotiable

Exterior

• Parking: Carport (dual carports)
• Utilities: City water; City sewer; Electric water heater; Electric power
• Home design: Double wide mobile home; Adult park (55+ community); White exterior; Lap siding
• Construction: Built in 1980; Vinyl siding; Composition/shingle roof; Pier foundation
• Exterior features: Partial fenced yard; Large yard with garden space and sprinklers; Covered patios (two); Deck; Shed; Landscaped

Interior

• Kitchen: Breakfast bar; Tile backsplash; Pull-out storage; Dishwasher; Electric range
• Bedrooms: Private primary suite with soaking tub and walk-in shower
• Flooring: Carpet; Wood; Laminate
• Bathrooms: Primary bathroom with soaking tub and walk-in shower
• Heating & cooling: Electric heating; Central air conditioning; Forced air
• Interior features: Vaulted ceilings; Built-ins; Tile backsplash in kitchen; Pull-out storage; High-speed communication available; Disposal
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $100k.

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 $100k).
• Cap rate 20.4% 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); Mcnary High School (2,081 students, 92% FRL) — zoned schools average 74% FRL vs 53% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 175 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $691 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 + 3.0% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 2y 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 $99,900

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: 2.30% ✓
• Cap rate: 20.36%
• Cash-on-cash: 50.23%
• DSCR: 3.23
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $92,160
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4374 Larch Lp NE	0.00mi	2/2.0	1,536 (0%)	0mo	$99,900	$65	100
5422 Portland Rd NE #139	0.17mi	3/2.0 (+1)	1,512 (-2%)	3mo	$85,750	$57	82
5422 Portland Rd NE #89	0.17mi	3/2.0 (+1)	1,536 (0%)	6mo	$104,000	$68	82
5422 Portland Rd NE #24	0.17mi	2/2.0	1,440 (-6%)	1mo	$60,000	$42	80
4383 NE Larch Loop	0.11mi	2/2.0	1,440 (-6%)	7mo	$50,000	$35	78
5151 Copper Creek Loop #183	0.30mi	3/2.0 (+1)	1,512 (-2%)	2mo	$130,000	$86	77
5279 Gold Dust St NE #220	0.30mi	3/2.0 (+1)	1,512 (-2%)	4mo	$130,000	$86	75
4353 Lemon St NE	0.07mi	3/2.0 (+1)	1,386 (-10%)	4mo	$57,500	$41	72
5422 Portland Rd #35	0.17mi	3/2.0 (+1)	1,404 (-9%)	7mo	$73,000	$52	67
5422 Portland Rd NE #80	0.17mi	3/2.0 (+1)	1,344 (-12%)	1mo	$81,000	$60	66
5422 Portland Rd NE #47	0.17mi	3/2.0 (+1)	1,344 (-12%)	4mo	$35,000	$26	63
5158 Silver Lp NE	0.32mi	3/2.0 (+1)	1,724 (+12%)	5mo	$149,900	$87	55

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: 48.0%
• Equity multiple: 3.09×
• Total profit: $58,384
• Equity at exit: $14,895

10-year hold

• IRR: 53.6%
• Equity multiple: 6.25×
• Total profit: $146,879
• Equity at exit: $8,638

Cash invested: $27,972 (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: 3.6×

Monthly cashflow live

• Estimated rent: $2,297 high
• Mortgage (P&I): −$524
• Tax from tax record: −$78 /mo · $937/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$482
• Net cashflow: $1,171

Break-even live

Break-even rent $815

Max offer price $99,900

Occupancy floor 44%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 8 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	13d	20	0.34mi
4927 Orbit Ave NE Salem, OR	3.0	2.5	1598	$2,395	$1.50	21d	1	0.70mi
5034 Armstrong Ave NE Salem, OR	3.0	2.5	1400	$2,550	$1.82	43d	1	0.75mi
4115 Geranium Loop NE Salem, OR	3.0	2.5	1316	$2,250	$1.71	13d	1	0.75mi
4823 Settlers Dr NE Salem, OR	3.0	2.0	1228	$2,395	$1.95	43d	1	0.76mi
5150 Constellation Ave NE Salem, OR	3.0	2.0	1869	$2,795	$1.50	13d	1	0.85mi
4040 Hayesville Dr NE Salem, OR	1.0–3.0	1.0–2.0	927	$1,695	$1.83	13d	25	1.02mi
4473 47th Ave NE Salem, OR	3.0	1.0	1244	$2,200	$1.77	43d	1	1.30mi

Listing history 9 events

1. 2026-05-01
   status Pending
2. 2026-04-18
   listed $99,900 Active
3. 2024-08-02
   soldstatus $119,900 Sold 508-char remark

   Show marketing remark (508 chars)

   55+ Park -ALL FURNITURE, down to the linens are included in Sale. A very nice home. Enjoy your new peaceful and quiet space to relax. Featuring two spacious covered decks, large lot with gardens, UG sprinklers, a gardeners delight. Two Large Sheds with shelving. Beautifully and meticulously maintained, move in ready 1536' home with newer appliances, a new '23 TRANE heat pump. Spacious primary in-suite. Lots of natural light. Perfect location close to I-5 and Keizer Station. Fridge & W/D included.

4. 2024-07-17
   historical Active under Contract 508-char remark

   Show marketing remark (508 chars)

   55+ Park -ALL FURNITURE, down to the linens are included in Sale. A very nice home. Enjoy your new peaceful and quiet space to relax. Featuring two spacious covered decks, large lot with gardens, UG sprinklers, a gardeners delight. Two Large Sheds with shelving. Beautifully and meticulously maintained, move in ready 1536' home with newer appliances, a new '23 TRANE heat pump. Spacious primary in-suite. Lots of natural light. Perfect location close to I-5 and Keizer Station. Fridge & W/D included.

5. 2024-07-12
   price $119,900 508-char remark

   Show marketing remark (508 chars)

   55+ Park -ALL FURNITURE, down to the linens are included in Sale. A very nice home. Enjoy your new peaceful and quiet space to relax. Featuring two spacious covered decks, large lot with gardens, UG sprinklers, a gardeners delight. Two Large Sheds with shelving. Beautifully and meticulously maintained, move in ready 1536' home with newer appliances, a new '23 TRANE heat pump. Spacious primary in-suite. Lots of natural light. Perfect location close to I-5 and Keizer Station. Fridge & W/D included.

6. 2024-06-26
   status Active 508-char remark

   Show marketing remark (508 chars)

   55+ Park -ALL FURNITURE, down to the linens are included in Sale. A very nice home. Enjoy your new peaceful and quiet space to relax. Featuring two spacious covered decks, large lot with gardens, UG sprinklers, a gardeners delight. Two Large Sheds with shelving. Beautifully and meticulously maintained, move in ready 1536' home with newer appliances, a new '23 TRANE heat pump. Spacious primary in-suite. Lots of natural light. Perfect location close to I-5 and Keizer Station. Fridge & W/D included.

7. 2024-06-21
   historical Active under Contract 508-char remark

   Show marketing remark (508 chars)

   55+ Park -ALL FURNITURE, down to the linens are included in Sale. A very nice home. Enjoy your new peaceful and quiet space to relax. Featuring two spacious covered decks, large lot with gardens, UG sprinklers, a gardeners delight. Two Large Sheds with shelving. Beautifully and meticulously maintained, move in ready 1536' home with newer appliances, a new '23 TRANE heat pump. Spacious primary in-suite. Lots of natural light. Perfect location close to I-5 and Keizer Station. Fridge & W/D included.

8. 2024-06-14
   listed $125,000 Active 508-char remark

   Show marketing remark (508 chars)

   55+ Park -ALL FURNITURE, down to the linens are included in Sale. A very nice home. Enjoy your new peaceful and quiet space to relax. Featuring two spacious covered decks, large lot with gardens, UG sprinklers, a gardeners delight. Two Large Sheds with shelving. Beautifully and meticulously maintained, move in ready 1536' home with newer appliances, a new '23 TRANE heat pump. Spacious primary in-suite. Lots of natural light. Perfect location close to I-5 and Keizer Station. Fridge & W/D included.

9. 1989-12-15
   soldstatus $37,830

ⓘ 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: $937 · $78/mo
• Projected year-2 tax: $969 · $81/mo
• Expected delta: +$32/yr (+$3/mo · 3.5%)

ⓘ 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 3/10 Moderate
• 🌡 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: $27,559
• − Mortgage interest: −$5,596
• − Property taxes: −$937
• − Insurance: −$500
• − Repairs & maintenance: −$2,205
• − Management: −$2,205
• − Depreciation: −$2,906
• Taxable income: $13,212
• Est. tax owed @ 24.0%: −$3,171
• After-tax cash flow: $10,878/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

+164.1% since first listed

9 events — show timeline

• 2026-05-01 Pending — WVMLS
• 2026-04-18 Listed $99,900 WVMLS
• 2024-08-02 Sold (MLS) $119,900 WVMLS
• 2024-07-17 Contingent — WVMLS
• 2024-07-12 Price Changed $119,900 WVMLS
• 2024-06-26 Relisted — WVMLS
• 2024-06-21 Contingent — WVMLS
• 2024-06-14 Listed $125,000 WVMLS
• 1989-12-15 Sold (Public Records) $37,830 Public Records

Property tax history

+3.8%/yr

Latest (2025): $937 · +7.7% YoY. Source: county tax records.