176 Clearwater Ave NE · Four Corners, OR 97301

$84,500

2 bd · 2.0 ba · 1,120 sqft · Other public records · 120 Days on market

Built 2023 Good condition $75/sqft · at area comps Est $85k · at est. ↓ 11% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.8/15.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful 2023 Skyline West Ridge Home! Large bdrms, 2 full baths w/a walk-in shower in the primary suite, dedicated laundry rm, & a large open kitchen featuring white cabinetry, SS appliances, & abundant counter space. Luxury Vinyl Plank thru-out w/carpet in the bdrms. Mini-split A/C. Spacious living & dining areas flow easily for entertaining. Low maintenance landscape. Located in a 55+ community built around a tranquil duck pond. Amenities include a welcoming clubhouse w/pool table, car-wash station, & community laundry room. Move-in ready! Park Rent is $1195/mo. Includes water. Must have park approval. Quite the deal at $84,900K! Plus -- 2 months free rent with full price cash offer! OPEN HOUSE 4/25 11am-2pm

Key facts

• Dedicated laundry rm
• Ss appliances
• Walk-in shower

Tags

• WALK-IN SHOWER
• DEDICATED LAUNDRY RM
• LARGE OPEN KITCHEN
• WHITE CABINETRY
• SS APPLIANCES
• ABUNDANT COUNTER SPACE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $84k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $610 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $84k).
• Recommended offer: $77k (9.0% below list) — sets the bar for market timing.
• Cap rate 15.0% 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: 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.
• Zoned schools: Auburn Elementary School (542 students, 71% FRL); Houck Middle School (949 students, 74% FRL); North Salem High School (2,239 students, 74% FRL) — zoned schools average 73% FRL vs 53% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.7%/yr); 280 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 31% 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 $584 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 + 0.0% rent growth), your $24k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 120 days — a 9% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $14k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $76,895 (9.0% below list)

Questions for the listing agent

1. It's been on market 120 days. Have you received any prior offers? Is the seller open to a 9% 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 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?
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: 1.82% ✓
• Cap rate: 14.96%
• Cash-on-cash: 30.95%
• DSCR: 2.38
• GRM: 4.6

CMA / ARV

• ARV (median comp): $85,000
• List price: $84,500
• Delta: -0.59%
• Verdict: FAIR
• Comps: 17 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 22.2%
• Equity multiple: 1.87×
• Total profit: $20,700
• Equity at exit: $12,599

10-year hold

• IRR: 28.2%
• Equity multiple: 3.15×
• Total profit: $50,785
• Equity at exit: $7,306

Cash invested: $23,660 (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: 280
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,540 high
• Mortgage (P&I): −$443
• Tax from tax record: −$128 /mo · $1,534/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $610

Break-even live

Break-even rent $767

Max offer price $84,500

Occupancy floor 55%

Sensitivity live

Price	-10% $658	-5% $634	+0% $610	+5% $586	+10% $562
Rent	-10% $489	-5% $549	+0% $610	+5% $671	+10% $732
Rate	-1.0pp $653	-0.5pp $632	base $610	+0.5pp $588	+1.0pp $566

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: $21,125
• Closing costs: $2,535
• Reserves months: —
• Total cash needed: —

Rent comps 36 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	15d	3	0.11mi
4611 State St Unit 4611 Salem, OR	2.0	1.0	840	$1,450	$1.73	25d	1	0.21mi
102 Greencrest St NE Salem, OR	3.0	1.0–2.0	914	$1,918	$2.10	15d	25	0.27mi
143 Connecticut Ave SE Unit 145 Salem, OR	3.0	1.0	1207	$1,595	$1.32	15d	1	0.28mi
143 Connecticut Ave SE Unit 143 Salem, OR	1.0	1.0	705	$950	$1.35	15d	1	0.28mi
4836 Tanglewood Ct SE Salem, OR	3.0	2.0	1316	$2,150	$1.63	25d	1	0.36mi
4433 Mahrt Ave SE Unit 4437-206 Salem, OR	2.0	2.0	932	$1,525	$1.64	45d	1	0.45mi
4433 Mahrt Ave SE Unit 4435-201 Salem, OR	2.0	2.0	888	$1,525	$1.72	25d	1	0.45mi
124 Stafford Ln NE Unit 124-203 Salem, OR	3.0	2.0	1052	$1,595	$1.52	45d	1	0.51mi
133 Stafford Ln NE Unit 133-103 Salem, OR	2.0	1.0	827	$1,195	$1.44	45d	1	0.53mi
4166 State St Salem, OR	2.0	1.0	788	$1,350	$1.71	15d	1	0.66mi
4135 State St Unit 11 Salem, OR	2.0	1.0	820	$1,195	$1.46	45d	1	0.69mi
4807 Chinook Ct SE Salem, OR	3.0	1.5	1104	$2,200	$1.99	15d	1	0.74mi
435 Fountain Valley Way NE Salem, OR	1.0–2.0	1.0–2.0	939	$1,559	$1.66	22d	5	0.79mi
4341 Center St NE Salem, OR	2.0	1.0	828	$1,130	$1.36	45d	1	0.85mi
4776 Buffalo Dr SE Salem, OR	3.0	1.0	1369	$2,150	$1.57	45d	1	0.85mi
178 Lancaster Dr SE Salem, OR	2.0	2.0	952	$1,495	$1.57	15d	1	0.88mi
1029 Raffon Ct SE Unit AR7171-3 Salem, OR	2.0	1.5	927	$1,700	$1.83	25d	1	0.93mi
295 Colt Ln NE Salem, OR	3.0	2.0	1052	$1,575	$1.50	15d	1	0.96mi
3750-3762 Amber St NE Unit 3758-107 Salem, OR	2.0	2.5	1150	$1,595	$1.39	25d	1	1.01mi
3750-3762 Amber St NE Unit 3762-107 Salem, OR	2.0	2.5	1150	$1,595	$1.39	45d	1	1.01mi
5192 Caplinger Rd SE Salem, OR	1.0–3.0	1.0–2.0	927	$1,554	$1.67	15d	25	1.04mi
3897 Meadowlawn Loop SE Salem, OR	1.0–3.0	1.0–2.0	962	$1,619	$1.68	15d	26	1.04mi
430 Brittany Way NE Unit 369-421 Salem, OR	2.0	2.0	920	$1,400	$1.52	45d	1	1.05mi
3880 Auburn Rd NE Unit 3896 Salem, OR	2.0	1.0	850	$1,450	$1.71	45d	1	1.05mi
3828 Bayonne Dr SE Salem, OR	2.0	1.0	980	$1,299	$1.33	15d	1	1.07mi
3822 Bayonne Dr SE Salem, OR	2.0	1.0	980	$1,299	$1.33	25d	1	1.08mi
4976 Turquoise Ave SE Salem, OR	2.0	2.0	918	$1,495	$1.63	15d	5	1.17mi
1447 Connecticut St SE Salem, OR	3.0	2.0	1258	$2,675	$2.13	45d	1	1.23mi
1569 Whitaker Dr SE Salem, OR	1.0–3.0	1.0–2.0	933	$1,799	$1.93	15d	1	1.34mi
4243 Campbell Dr SE Unit 4243 Salem, OR	3.0	1.0	936	$1,550	$1.66	15d	1	1.40mi
4435 Campbell Dr SE Salem, OR	2.0	1.0	807	$1,445	$1.79	25d	1	1.45mi
721-759 Hawthorne Ave NE Unit 733 Salem, OR	2.0	1.0	712	$995	$1.40	45d	1	1.48mi
3695 D St NE Salem, OR	1.0–2.0	1.0–2.0	1037	$1,650	$1.59	45d	3	1.49mi
793 Hawthorne Ave NE Unit 803 Salem, OR	2.0	1.0	750	$1,225	$1.63	15d	1	1.49mi
793 Hawthorne Ave NE Unit 837 Salem, OR	2.0	1.0	750	$1,125	$1.50	15d	1	1.49mi

Listing history 26 events

1. 2026-06-21
   days on market $84,500 Active 120 DOM
2. 2026-06-18
   days on market $84,500 Active 117 DOM
3. 2026-06-17
   days on market $84,500 Active 116 DOM
4. 2026-06-16
   days on market $84,500 Active 115 DOM
5. 2026-06-15
   days on market $84,500 Active 114 DOM
6. 2026-06-14
   days on market $84,500 Active 112 DOM
7. 2026-06-10
   days on market $84,500 Active 109 DOM
8. 2026-06-09
   days on market $84,500 Active 108 DOM
9. 2026-06-08
   days on market $84,500 Active 107 DOM
10. 2026-06-07
    days on market $84,500 Active 106 DOM
11. 2026-06-03
    days on market $84,500 Active 102 DOM
12. 2026-06-02
    days on market $84,500 Active 101 DOM
13. 2026-06-01
    days on market $84,500 Active 100 DOM
14. 2026-05-31
    days on market $84,500 Active 99 DOM
15. 2026-05-30
    pricedays on market $84,500 Active 98 DOM
16. 2026-03-29
    price $84,900 737-char remark

    Show marketing remark (794 chars)

    Welcome in to a beautifully cared for 2023 home -- still like new! Lrg bdrms, 2 full baths w/walk-in shower in the primary suite, dedicated laundry rm, & a large open kitchen featuring white cabinetry, SS appliances, & abundant counter space. Luxury Vinyl Plank thru-out w/carpet in the bdrms. Mini-split A/C. Spacious living & dining areas flow easily for entertaining. Located in a 55+ community built around a tranquil duck pond. Amenities include a welcoming clubhouse w/pool table, monthly community events, car-wash station, & community laundry room. Move-in ready! Lot rent includes water w/park approval. Act fast & make this your forever home! Quite the deal at $84,900K! Plus -- 2 months free rent with full price cash offer!OPEN HOUSE Saturday, 4/25/2026 11am-2pm

17. 2026-03-29
    price $84,900 794-char remark

    Show marketing remark (794 chars)

    Welcome in to a beautifully cared for 2023 home -- still like new! Lrg bdrms, 2 full baths w/walk-in shower in the primary suite, dedicated laundry rm, & a large open kitchen featuring white cabinetry, SS appliances, & abundant counter space. Luxury Vinyl Plank thru-out w/carpet in the bdrms. Mini-split A/C. Spacious living & dining areas flow easily for entertaining. Located in a 55+ community built around a tranquil duck pond. Amenities include a welcoming clubhouse w/pool table, monthly community events, car-wash station, & community laundry room. Move-in ready! Lot rent includes water w/park approval. Act fast & make this your forever home! Quite the deal at $84,900K! Plus -- 2 months free rent with full price cash offer!OPEN HOUSE Saturday, 4/25/2026 11am-2pm

18. 2026-02-22
    listed $98,000 Active 794-char remark

    Show marketing remark (794 chars)

    Welcome in to a beautifully cared for 2023 home -- still like new! Lrg bdrms, 2 full baths w/walk-in shower in the primary suite, dedicated laundry rm, & a large open kitchen featuring white cabinetry, SS appliances, & abundant counter space. Luxury Vinyl Plank thru-out w/carpet in the bdrms. Mini-split A/C. Spacious living & dining areas flow easily for entertaining. Located in a 55+ community built around a tranquil duck pond. Amenities include a welcoming clubhouse w/pool table, monthly community events, car-wash station, & community laundry room. Move-in ready! Lot rent includes water w/park approval. Act fast & make this your forever home! Quite the deal at $84,900K! Plus -- 2 months free rent with full price cash offer!OPEN HOUSE Saturday, 4/25/2026 11am-2pm

19. 2026-02-21
    listed $98,000 Active 737-char remark

    Show marketing remark (737 chars)

    Beautiful 2023 Skyline West Ridge Home! Large bdrms, 2 full baths w/a walk-in shower in the primary suite, dedicated laundry rm, & a large open kitchen featuring white cabinetry, SS appliances, & abundant counter space. Luxury Vinyl Plank thru-out w/carpet in the bdrms. Mini-split A/C. Spacious living & dining areas flow easily for entertaining. Low maintenance landscape. Located in a 55+ community built around a tranquil duck pond. Amenities include a welcoming clubhouse w/pool table, car-wash station, & community laundry room. Move-in ready! Park Rent is $1195/mo. Includes water. Must have park approval. Quite the deal at $84,900K! Plus -- 2 months free rent with full price cash offer! OPEN HOUSE 4/25 11am-2pm

20. 2023-09-27
    soldstatus $74,900 Closed
21. 2023-09-27
    soldstatus $74,900 Sold
22. 2023-09-13
    status Pending
23. 2023-09-08
    historical Active under Contract
24. 2023-09-01
    listed $74,900 Active
25. 2023-09-01
    price $74,900
26. 2023-08-23
    listed $94,900 Active

ⓘ 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: $1,534 · $128/mo
• Projected year-2 tax: $1,534 · $128/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 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: $18,477
• − Mortgage interest: −$4,733
• − Property taxes: −$1,534
• − Insurance: −$422
• − Repairs & maintenance: −$1,478
• − Management: −$1,478
• − Depreciation: −$2,458
• Taxable income: $6,373
• Est. tax owed @ 24.0%: −$1,530
• After-tax cash flow: $5,794/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

Good 80/100 Cosmetic rehab

This 2023 home is move-in ready with a good condition score and minimal repairs needed. It offers a spacious layout with modern amenities and a low maintenance landscape.

Value-add opportunities

• Resale paint exterior — enhances curb appeal
• Rental landscape — improves curb appeal and attracts tenants

Renovation cost estimate screening

Value-add ROI direction

• Resale paint exterior — enhances curb appeal ↑
• Rental landscape — improves curb appeal and attracts tenants ↑

ⓘ 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 — 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

-10.5% since first listed

11 events — show timeline

• 2026-03-29 Price Changed $84,900 RMLS
• 2026-03-29 Price Changed $84,900 WVMLS
• 2026-02-22 Listed $98,000 WVMLS
• 2026-02-21 Listed $98,000 RMLS
• 2023-09-27 Sold (MLS) $74,900 WVMLS
• 2023-09-27 Sold (MLS) $74,900 RMLS
• 2023-09-13 Pending — RMLS
• 2023-09-08 Contingent — WVMLS
• 2023-09-01 Listed $74,900 RMLS
• 2023-09-01 Price Changed $74,900 WVMLS
• 2023-08-23 Listed $94,900 WVMLS

Property tax history

+3.0%/yr

Latest (2025): $1,534 · +3.0% YoY. Source: county tax records.