3300 Turner Rd SE · Salem, OR 97302

$129,000

3 bd · 2.0 ba · 1,040 sqft · Manufactured public records · 267 Days on market

Built 2020 $124/sqft · 13% above area Est $123k · at est. ↓ 23% since listing

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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
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• ARV discount +5.3/15.0
• Livability +4.0/5.0
• Schools +3.7/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Like new! This 2 bed/2 bath, 1120 sqft home boasts vaulted ceilings, a fully covered breezeway to the shed, and storage galore. The bright kitchen features recessed LED lighting, stainless appliances, wood cabinetry and vinyl plank flooring. But the showstopper is the location and park-like setting, adjacent to the creek and sitting at the end of the lane. A must-see home!

Key facts

• Stainless appliances
• Storage galore
• Vaulted ceilings

Tags

• VAULTED CEILINGS
• FULLY COVERED BREEZEWAY
• STORAGE GALORE
• RECESSED LED LIGHTING
• STAINLESS APPLIANCES
• WOOD CABINETRY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $129k.

Deal economics

• At list price, monthly cash flow is $613 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $129k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.0% 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; 13 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 $892 of loan paydown is wiped out by about $4k 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 $36k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 267 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $36k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $113,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 267 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.48% ✓
• Cap rate: 12.00%
• Cash-on-cash: 20.37%
• DSCR: 1.91
• GRM: 5.6

CMA / ARV

• ARV (median comp): $122,883
• List price: $129,000
• Delta: 4.98%
• Verdict: FAIR
• Comps: 19 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3100 Turner Rd SE #414	0.10mi	2/1.0 (-1)	990 (-5%)	1mo	$107,500	$109	78
3364 Turner Rd SE	0.30mi	2/2.0 (-1)	1,008 (-3%)	4mo	$50,000	$50	73
3100 Turner Rd SE #116	0.10mi	2/2.0 (-1)	1,080 (+4%)	13mo	$85,000	$79	73
3100 Turner Rd SE #523	0.10mi	2/2.0 (-1)	1,152 (+11%)	1mo	$132,000	$115	72
3100 Turner Rd SE #176	0.10mi	2/2.0 (-1)	1,080 (+4%)	15mo	$128,000	$119	72
3100 Turner Rd SE #626	0.10mi	2/1.5 (-1)	960 (-8%)	7mo	$105,000	$109	70
3100 Turner Rd SE #322	0.10mi	2/1.0 (-1)	938 (-10%)	3mo	$144,900	$154	68
3554 Turner Rd	0.25mi	3/2.0	1,188 (+14%)	1mo	$130,000	$109	64
3390 Turner Rd	0.38mi	2/1.0 (-1)	938 (-10%)	4mo	$49,000	$52	53
2200 SE Lancaster Dr	0.67mi	2/2.0 (-1)	1,056 (+2%)	13mo	$135,000	$128	50
2200 SE Lancaster Dr Unit 13D	0.68mi	2/2.0 (-1)	1,056 (+2%)	13mo	$135,000	$128	50
2200 Lancaster Dr SE Unit 1D	0.68mi	2/2.0 (-1)	960 (-8%)	2mo	$20,000	$21	49

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: 11.3%
• Equity multiple: 1.44×
• Total profit: $15,974
• Equity at exit: $19,234

10-year hold

• IRR: 19.4%
• Equity multiple: 2.54×
• Total profit: $55,495
• Equity at exit: $11,154

Cash invested: $36,120 (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: 5.6×

Monthly cashflow live

• Estimated rent: $1,904 high
• Mortgage (P&I): −$676
• Tax est. 1.5%: −$161 /mo · $1,935/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$400
• Net cashflow: $613

Break-even live

Break-even rent $1,128

Max offer price $129,000

Occupancy floor 63%

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2728 Lancaster Dr SE Unit 2728-14 Salem, OR	2.0	1.5	1000	$1,195	$1.20	43d	1	0.81mi
4243 Campbell Dr SE Unit 4243 Salem, OR	3.0	1.0	936	$1,550	$1.66	14d	1	0.97mi
4435 Campbell Dr SE Salem, OR	2.0	1.0	807	$1,445	$1.79	23d	1	1.10mi
2423 Strong Heights Ln SE Salem, OR	2.0	2.0	828	$1,750	$2.11	23d	1	1.13mi
1447 Connecticut St SE Salem, OR	3.0	2.0	1258	$2,675	$2.13	43d	1	1.14mi
2315 Strong Heights Ln SE Salem, OR	2.0–3.0	2.0–2.5	1087	$2,350	$2.16	43d	1	1.18mi
4665 Campbell Dr SE Salem, OR	1.0–3.0	1.0–2.0	923	$2,099	$2.27	14d	1	1.23mi
3955 Outward Rd SE Salem, OR	1.0–3.0	1.0–2.0	970	$2,249	$2.32	14d	20	1.34mi
3822 Bayonne Dr SE Salem, OR	2.0	1.0	980	$1,299	$1.33	23d	1	1.35mi
3897 Meadowlawn Loop SE Salem, OR	1.0–3.0	1.0–2.0	962	$1,958	$2.03	14d	26	1.35mi
3828 Bayonne Dr SE Salem, OR	2.0	1.0	980	$1,299	$1.33	14d	1	1.35mi
2087 Audubon Ave SE Salem, OR	3.0	2.5	1325	$3,725	$2.81	23d	1	1.41mi
1029 Raffon Ct SE Unit AR7171-3 Salem, OR	2.0	1.5	927	$1,700	$1.83	23d	1	1.49mi

Listing history 23 events

1. 2026-06-18
   days on market $129,000 Active 267 DOM
2. 2026-06-17
   days on market $129,000 Active 266 DOM
3. 2026-06-16
   days on market $129,000 Active 265 DOM
4. 2026-06-15
   days on market $129,000 Active 264 DOM
5. 2026-06-14
   days on market $129,000 Active 262 DOM
6. 2026-06-10
   days on market $129,000 Active 259 DOM
7. 2026-06-09
   days on market $129,000 Active 258 DOM
8. 2026-06-08
   days on market $129,000 Active 257 DOM
9. 2026-06-07
   days on market $129,000 Active 256 DOM
10. 2026-06-03
    days on market $129,000 Active 252 DOM
11. 2026-06-02
    days on market $129,000 Active 251 DOM
12. 2026-06-01
    days on market $129,000 Active 250 DOM
13. 2026-05-31
    days on market $129,000 Active 249 DOM
14. 2026-05-30
    days on market $129,000 Active 248 DOM
15. 2026-05-09
    price $129,000 375-char remark

    Show marketing remark (375 chars)

    Like new! This 2 bed/2 bath, 1120 sqft home boasts vaulted ceilings, a fully covered breezeway to the shed, and storage galore. The bright kitchen features recessed LED lighting, stainless appliances, wood cabinetry and vinyl plank flooring. But the showstopper is the location and park-like setting, adjacent to the creek and sitting at the end of the lane. A must-see home!

16. 2026-04-25
    price $140,000 375-char remark

    Show marketing remark (375 chars)

    Like new! This 2 bed/2 bath, 1120 sqft home boasts vaulted ceilings, a fully covered breezeway to the shed, and storage galore. The bright kitchen features recessed LED lighting, stainless appliances, wood cabinetry and vinyl plank flooring. But the showstopper is the location and park-like setting, adjacent to the creek and sitting at the end of the lane. A must-see home!

17. 2026-04-24
    status Active 375-char remark

    Show marketing remark (375 chars)

    Like new! This 2 bed/2 bath, 1120 sqft home boasts vaulted ceilings, a fully covered breezeway to the shed, and storage galore. The bright kitchen features recessed LED lighting, stainless appliances, wood cabinetry and vinyl plank flooring. But the showstopper is the location and park-like setting, adjacent to the creek and sitting at the end of the lane. A must-see home!

18. 2026-03-05
    historical Active Bumpable 375-char remark

    Show marketing remark (375 chars)

    Like new! This 2 bed/2 bath, 1120 sqft home boasts vaulted ceilings, a fully covered breezeway to the shed, and storage galore. The bright kitchen features recessed LED lighting, stainless appliances, wood cabinetry and vinyl plank flooring. But the showstopper is the location and park-like setting, adjacent to the creek and sitting at the end of the lane. A must-see home!

19. 2025-12-03
    price $149,000 375-char remark

    Show marketing remark (375 chars)

    Like new! This 2 bed/2 bath, 1120 sqft home boasts vaulted ceilings, a fully covered breezeway to the shed, and storage galore. The bright kitchen features recessed LED lighting, stainless appliances, wood cabinetry and vinyl plank flooring. But the showstopper is the location and park-like setting, adjacent to the creek and sitting at the end of the lane. A must-see home!

20. 2025-10-14
    price $159,000 375-char remark

    Show marketing remark (375 chars)

    Like new! This 2 bed/2 bath, 1120 sqft home boasts vaulted ceilings, a fully covered breezeway to the shed, and storage galore. The bright kitchen features recessed LED lighting, stainless appliances, wood cabinetry and vinyl plank flooring. But the showstopper is the location and park-like setting, adjacent to the creek and sitting at the end of the lane. A must-see home!

21. 2025-09-24
    listed $165,000 Active 375-char remark

    Show marketing remark (375 chars)

    Like new! This 2 bed/2 bath, 1120 sqft home boasts vaulted ceilings, a fully covered breezeway to the shed, and storage galore. The bright kitchen features recessed LED lighting, stainless appliances, wood cabinetry and vinyl plank flooring. But the showstopper is the location and park-like setting, adjacent to the creek and sitting at the end of the lane. A must-see home!

22. 2021-10-27
    historical
23. 2021-10-13
    listed $167,998 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $22,854
• − Mortgage interest: −$7,226
• − Property taxes: −$1,935
• − Insurance: −$645
• − Repairs & maintenance: −$1,828
• − Management: −$1,828
• − Depreciation: −$3,753
• Taxable income: $5,639
• Est. tax owed @ 24.0%: −$1,353
• After-tax cash flow: $6,003/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
• 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

-23.2% since first listed

9 events — show timeline

• 2026-05-09 Price Changed $129,000 WVMLS
• 2026-04-25 Price Changed $140,000 WVMLS
• 2026-04-24 Relisted — WVMLS
• 2026-03-05 Contingent — WVMLS
• 2025-12-03 Price Changed $149,000 WVMLS
• 2025-10-14 Price Changed $159,000 WVMLS
• 2025-09-24 Listed $165,000 WVMLS
• 2021-10-27 Listing Removed — WVMLS
• 2021-10-13 Listed $167,998 WVMLS