194 Broadmore Ave NE · Four Corners, OR 97301

$55,000

2 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 149 Days on market

Built 1971 $48/sqft · 35% below area Est $85k · 35% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Royal Mobile Est 55+ Community /W Clubhouse, pond, billiards, RV Storage. 2Bed/2BA 1152 Sq ft. Beautiful wood laminate Floors, Lg livingroom & kitchen. Remodeled Primary bedroom & bathroom, updated vinyl windows and exterior doors, New in 2024 Hot water heater & furnace w/ heat pump. 2 outside storage ShedsSpace rent includes, water, sewer. buyer to do their own due diligence for park rent.Park approval Necessary.

Key facts

• Clubhouse
• Pond
• Billiards

Tags

• CLUBHOUSE
• POND
• BILLIARDS
• RV STORAGE
• REMODELED PRIMARY BEDROOM
• UPDATED VINYL WINDOWS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $55k.

Deal economics

• At list price, monthly cash flow is $869 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• Cap rate 25.3% vs local median 3.9% in Four Corners — 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 78/100 on livability (#66 in OR, #2,680 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, amenities B+; Watch: schools D-, crime D-.
• 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 soft (-0.7%/yr); 276 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,591 units permitted in Marion County in 2024 (716 in 5+ unit buildings).
• This rent runs 30% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 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 + 0.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 149 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $14k; list at $55k implies a 280% gain — meaningful room to come down on a strong offer.

Recommended offer $48,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 149 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — 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 D 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: 2.75% ✓
• Cap rate: 25.25%
• Cash-on-cash: 67.70%
• DSCR: 4.01
• GRM: 3.0

CMA / ARV

• ARV (median comp): $85,000
• List price: $55,000
• Delta: -35.29%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
148 47th Ave NE	0.06mi	2/2.0	1,128 (-2%)	11mo	$77,000	$68	85
4730 Auburn Rd NE #10	0.23mi	2/2.0	1,104 (-4%)	3mo	$92,500	$84	80
4730 Auburn Rd NE #95	0.23mi	2/2.0	1,152 (0%)	13mo	$52,000	$45	78
114 Broadmore Ave NE	0.09mi	3/2.0 (+1)	1,152 (0%)	23mo	$60,000	$52	72
176 47th Ave NE	0.05mi	2/2.0	1,008 (-12%)	9mo	$7,500	$7	69
341 Cornerstone Ct	0.39mi	2/2.0	1,056 (-8%)	3mo	$316,000	$299	65
4849 State St #34	0.16mi	3/2.0 (+1)	1,248 (+8%)	13mo	$126,500	$101	63
4730 Auburn Rd #158	0.23mi	3/2.0 (+1)	1,288 (+12%)	3mo	$61,500	$48	62
4746 Amber St	0.11mi	2/2.0	1,288 (+12%)	19mo	$74,000	$57	59
4730 Auburn Rd NE #103	0.23mi	3/2.0 (+1)	1,230 (+7%)	21mo	$155,000	$126	55
193 Clearwater Ave NE	0.08mi	3/2.0 (+1)	1,296 (+12%)	22mo	$64,900	$50	52

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 63.8%
• Equity multiple: 3.73×
• Total profit: $41,983
• Equity at exit: $8,201

10-year hold

• IRR: 67.3%
• Equity multiple: 6.89×
• Total profit: $90,639
• Equity at exit: $4,755

Cash invested: $15,400 (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 97301

• Rents YoY: -0.7%
• Active inventory: 276
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,513 high
• Mortgage (P&I): −$288
• Tax from tax record: −$15 /mo · $180/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $869

Break-even live

Break-even rent $413

Max offer price $55,000

Occupancy floor 38%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
138 Bayview Way NE Salem, OR	2.0	1.0	850	$1,395	$1.64	13d	3	0.11mi
4611 State St Unit 4611 Salem, OR	2.0	1.0	840	$1,450	$1.73	23d	1	0.14mi
143 Connecticut Ave SE Unit 145 Salem, OR	3.0	1.0	1207	$1,595	$1.32	13d	1	0.21mi
143 Connecticut Ave SE Unit 143 Salem, OR	1.0	1.0	705	$950	$1.35	13d	1	0.21mi
102 Greencrest St NE Salem, OR	3.0	1.0–2.0	914	$1,918	$2.10	13d	25	0.37mi
4433 Mahrt Ave SE Unit 4435-201 Salem, OR	2.0	2.0	888	$1,525	$1.72	23d	1	0.37mi
4433 Mahrt Ave SE Unit 4437-206 Salem, OR	2.0	2.0	932	$1,525	$1.64	43d	1	0.37mi
4836 Tanglewood Ct SE Salem, OR	3.0	2.0	1316	$2,150	$1.63	23d	1	0.40mi
124 Stafford Ln NE Unit 124-203 Salem, OR	3.0	2.0	1052	$1,595	$1.52	43d	1	0.42mi
133 Stafford Ln NE Unit 133-103 Salem, OR	2.0	1.0	827	$1,195	$1.44	43d	1	0.43mi
4166 State St Salem, OR	2.0	1.0	788	$1,350	$1.71	13d	1	0.56mi
4135 State St Unit 11 Salem, OR	2.0	1.0	820	$1,195	$1.46	43d	1	0.60mi
435 Fountain Valley Way NE Salem, OR	1.0–2.0	1.0–2.0	939	$1,559	$1.66	21d	5	0.70mi
4807 Chinook Ct SE Salem, OR	3.0	1.5	1104	$2,200	$1.99	13d	1	0.76mi
178 Lancaster Dr SE Salem, OR	2.0	2.0	952	$1,495	$1.57	13d	1	0.78mi
4341 Center St NE Salem, OR	2.0	1.0	828	$1,130	$1.36	43d	1	0.79mi
4776 Buffalo Dr SE Salem, OR	3.0	1.0	1369	$2,150	$1.57	43d	1	0.86mi
295 Colt Ln NE Salem, OR	3.0	2.0	1052	$1,575	$1.50	13d	1	0.86mi
3750-3762 Amber St NE Unit 3762-107 Salem, OR	2.0	2.5	1150	$1,595	$1.39	43d	1	0.91mi
3750-3762 Amber St NE Unit 3758-107 Salem, OR	2.0	2.5	1150	$1,595	$1.39	23d	1	0.91mi
1029 Raffon Ct SE Unit AR7171-3 Salem, OR	2.0	1.5	927	$1,700	$1.83	23d	1	0.93mi
430 Brittany Way NE Unit 369-421 Salem, OR	2.0	2.0	920	$1,400	$1.52	43d	1	0.96mi
3897 Meadowlawn Loop SE Salem, OR	1.0–3.0	1.0–2.0	962	$1,619	$1.68	13d	26	0.96mi
3880 Auburn Rd NE Unit 3896 Salem, OR	2.0	1.0	850	$1,450	$1.71	43d	1	0.96mi
3828 Bayonne Dr SE Salem, OR	2.0	1.0	980	$1,299	$1.33	13d	1	0.99mi
3822 Bayonne Dr SE Salem, OR	2.0	1.0	980	$1,299	$1.33	23d	1	1.00mi
5192 Caplinger Rd SE Salem, OR	1.0–3.0	1.0–2.0	927	$1,554	$1.67	13d	25	1.09mi
4976 Turquoise Ave SE Salem, OR	2.0	2.0	918	$1,495	$1.63	13d	5	1.20mi
1447 Connecticut St SE Salem, OR	3.0	2.0	1258	$2,675	$2.13	43d	1	1.22mi
1569 Whitaker Dr SE Salem, OR	1.0–3.0	1.0–2.0	933	$1,799	$1.93	13d	1	1.36mi
4243 Campbell Dr SE Unit 4243 Salem, OR	3.0	1.0	936	$1,550	$1.66	13d	1	1.38mi
721-759 Hawthorne Ave NE Unit 733 Salem, OR	2.0	1.0	712	$995	$1.40	43d	1	1.39mi
793 Hawthorne Ave NE Unit 803 Salem, OR	2.0	1.0	750	$1,225	$1.63	13d	1	1.41mi
793 Hawthorne Ave NE Unit 837 Salem, OR	2.0	1.0	750	$1,125	$1.50	13d	1	1.41mi
3695 D St NE Salem, OR	1.0–2.0	1.0–2.0	1037	$1,650	$1.59	43d	3	1.42mi
4435 Campbell Dr SE Salem, OR	2.0	1.0	807	$1,445	$1.79	23d	1	1.44mi
1415 Lancaster Dr NE Unit 16 Salem, OR	2.0	1.0	850	$1,250	$1.47	43d	1	1.45mi
1415 Lancaster Dr NE Unit 33 Salem, OR	2.0	1.0	850	$1,225	$1.44	43d	1	1.45mi
1415 Lancaster Dr NE Unit 18 Salem, OR	2.0	1.0	850	$1,200	$1.41	43d	1	1.45mi
3293 Center St NE Salem, OR	2.0	1.0	800	$1,145	$1.43	13d	1	1.45mi

Listing history 17 events

1. 2026-06-18
   days on market $55,000 Active 149 DOM
2. 2026-06-17
   days on market $55,000 Active 148 DOM
3. 2026-06-16
   days on market $55,000 Active 147 DOM
4. 2026-06-15
   days on market $55,000 Active 146 DOM
5. 2026-06-14
   days on market $55,000 Active 144 DOM
6. 2026-06-10
   days on market $55,000 Active 141 DOM
7. 2026-06-09
   days on market $55,000 Active 140 DOM
8. 2026-06-08
   days on market $55,000 Active 139 DOM
9. 2026-06-07
   remarks 459-char remark
10. 2026-06-07
    pricedays on market $55,000 Active 138 DOM
11. 2026-06-03
    days on market $60,000 Active 134 DOM
12. 2026-06-02
    days on market $60,000 Active 133 DOM
13. 2026-06-01
    days on market $60,000 Active 132 DOM
14. 2026-05-31
    days on market $60,000 Active 131 DOM
15. 2026-05-30
    days on market $60,000 Active 130 DOM
16. 2026-01-20
    listed $60,000 Active 429-char remark

    Show marketing remark (429 chars)

    Royal Mobile Est 55+ Community /W Clubhouse, pond, billiards, RV Storage. 2Bed/2BA 1152 Sq ft. Beautiful wood laminate Floors, Lg livingroom & kitchen. Remodeled Primary bedroom & bathroom, updated vinyl windows and exterior doors, New in 2024 Hot water heater & furnace w/ heat pump. 2 outside storage ShedsSpace rent includes, water, sewer. buyer to do their own due diligence for park rent.Park approval Necessary.

17. 1989-03-01
    soldstatus $14,480

ⓘ 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: $180 · $15/mo
• Projected year-2 tax: $534 · $44/mo
• Expected delta: +$353/yr (+$29/mo · 195.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $18,156
• − Mortgage interest: −$3,081
• − Property taxes: −$180
• − Insurance: −$275
• − Repairs & maintenance: −$1,452
• − Management: −$1,452
• − Depreciation: −$1,600
• Taxable income: $10,115
• Est. tax owed @ 24.0%: −$2,427
• After-tax cash flow: $7,999/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 — Four Corners

• Score: 78/100
• State rank: #66
• US rank: #2680

Category grades

Amenities B+ Commute C+ Cost of living B+ Crime D- Employment C Housing A+ Health & safety A+ User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Four Corners, OR
• County: Marion County · 258,219 people
• Metro: Salem, OR
• Population (ZIP): 57,574
• Household income: $60,422
• Rent vs Own: 57.2% rent · 42.8% own
• Severe rent burden: 3089.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 55% Hispanic / Latino 35% Two or more races 19% Asian 2% Black 2% Native American 1% Pacific Islander 1%
• Hispanic origin (detail): Mexican 31%
• Common ancestry: Italian 4% Portuguese 2% Lithuanian 2%
• Foreign-born: 17% · Canada, China, Philippines
• Languages at home: 68% English-only · Spanish 27% Other Asian/Pacific 1% Russian/Polish/Slavic 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: ▼ -548.17%
• Current HPI: 335.8199
• Rent YoY: ▼ -0.70%
• 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

+314.4% since first listed

2 events — show timeline

• 2026-01-20 Listed $60,000 WVMLS
• 1989-03-01 Sold (Public Records) $14,480 Public Records

Property tax history

-1.2%/yr

Latest (2017): $180 · -2.5% YoY. Source: county tax records.