1930 Hampden Ln NE #5 · Four Corners, OR 97305

$54,900

2 bd · 2.0 ba · 720 sqft · Manufactured public records · 152 Days on market

Built 1970 $76/sqft · 38% below area Est $89k · 38% 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
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully updated, move-in ready manufactured home in a great location! Bright, airy, and well maintained. Located in a desirable all-age community with low space rent at just $726/month. Recent updates include plumbing, electrical panel, fresh paint, new gutters, water softener, split-unit heaters, dimmer lighting, new rear stairs, and more. Appliances included.

Key facts

• Recent updates
• Low space rent
• Water softener

Tags

• UPDATED MANUFACTURED HOME
• GREAT LOCATION
• LOW SPACE RENT
• RECENT UPDATES
• NEW GUTTERS
• WATER SOFTENER

🏷️ Possibly a rental listed for sale. The $54,900 price doesn't fit this home's estimated sale value (~$89,039) and the remarks read like a rental — treat the cards below with caution.

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 $583 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.0% 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: 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: 175 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $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 + 3.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 152 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $15k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $48,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 152 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 1970 — 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: 2.22% ✓
• Cap rate: 19.03%
• Cash-on-cash: 45.47%
• DSCR: 3.02
• GRM: 3.8

CMA / ARV

• ARV (median comp): $89,039
• List price: $54,900
• Delta: -38.34%
• Verdict: UNDERPRICED
• Comps: 8 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 42.6%
• Equity multiple: 2.84×
• Total profit: $28,223
• Equity at exit: $8,186

10-year hold

• IRR: 48.7%
• Equity multiple: 5.71×
• Total profit: $72,424
• Equity at exit: $4,747

Cash invested: $15,372 (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: 3.8×

Monthly cashflow live

• Estimated rent: $1,218 medium
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $824/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $583

Break-even live

Break-even rent $480

Max offer price $54,900

Occupancy floor 47%

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: $13,725
• Closing costs: $1,647
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4886 Silverton Rd NE Unit 4/Office location Salem, OR	1.0	1.0	625	$1,100	$1.76	43d	1	1.26mi
4880 Silverton Rd NE Salem, OR	1.0	1.0	650	$1,100	$1.69	43d	1	1.29mi
4704 Center St NE Salem, OR	1.0	1.0	658	$1,472	$2.24	13d	15	1.42mi

Listing history 25 events

1. 2026-06-18
   days on market $54,900 Active 152 DOM
2. 2026-06-17
   days on market $54,900 Active 151 DOM
3. 2026-06-16
   days on market $54,900 Active 150 DOM
4. 2026-06-15
   price $54,900 Active 149 DOM
5. 2026-06-15
   days on market $59,900 Active 149 DOM
6. 2026-06-14
   days on market $59,900 Active 147 DOM
7. 2026-06-10
   days on market $59,900 Active 144 DOM
8. 2026-06-09
   days on market $59,900 Active 143 DOM
9. 2026-06-08
   days on market $59,900 Active 142 DOM
10. 2026-06-07
    days on market $59,900 Active 141 DOM
11. 2026-06-03
    days on market $59,900 Active 137 DOM
12. 2026-06-02
    days on market $59,900 Active 136 DOM
13. 2026-06-01
    days on market $59,900 Active 135 DOM
14. 2026-05-31
    days on market $59,900 Active 134 DOM
15. 2026-05-30
    days on market $59,900 Active 133 DOM
16. 2026-05-08
    price $59,900 367-char remark

    Show marketing remark (367 chars)

    Beautifully updated, move-in ready manufactured home in a great location! Bright, airy, and well maintained. Located in a desirable all-age community with low space rent at just $726/month. Recent updates include plumbing, electrical panel, fresh paint, new gutters, water softener, split-unit heaters, dimmer lighting, new rear stairs, and more. Appliances included.

17. 2026-03-27
    status Active 367-char remark

    Show marketing remark (367 chars)

    Beautifully updated, move-in ready manufactured home in a great location! Bright, airy, and well maintained. Located in a desirable all-age community with low space rent at just $726/month. Recent updates include plumbing, electrical panel, fresh paint, new gutters, water softener, split-unit heaters, dimmer lighting, new rear stairs, and more. Appliances included.

18. 2026-03-09
    status Pending 367-char remark

    Show marketing remark (367 chars)

    Beautifully updated, move-in ready manufactured home in a great location! Bright, airy, and well maintained. Located in a desirable all-age community with low space rent at just $726/month. Recent updates include plumbing, electrical panel, fresh paint, new gutters, water softener, split-unit heaters, dimmer lighting, new rear stairs, and more. Appliances included.

19. 2026-02-07
    price $64,900 367-char remark

    Show marketing remark (367 chars)

    Beautifully updated, move-in ready manufactured home in a great location! Bright, airy, and well maintained. Located in a desirable all-age community with low space rent at just $726/month. Recent updates include plumbing, electrical panel, fresh paint, new gutters, water softener, split-unit heaters, dimmer lighting, new rear stairs, and more. Appliances included.

20. 2025-12-30
    listed $69,900 Active 367-char remark

    Show marketing remark (367 chars)

    Beautifully updated, move-in ready manufactured home in a great location! Bright, airy, and well maintained. Located in a desirable all-age community with low space rent at just $726/month. Recent updates include plumbing, electrical panel, fresh paint, new gutters, water softener, split-unit heaters, dimmer lighting, new rear stairs, and more. Appliances included.

21. 2022-05-05
    soldstatus $55,700 Sold 370-char remark

    Show marketing remark (370 chars)

    Beautifully remodeled home in nice area, park is located just outside of city of Salem giving the country feel that many desire. Vinyl windows and complete insulation make this home energy efficient. Newer appliances are included. Beautiful newer covered front decking add to the beauty and functionality of this home. Space rent is $615/mo - water & sewer included.

22. 2022-04-21
    status Pending 370-char remark

    Show marketing remark (370 chars)

    Beautifully remodeled home in nice area, park is located just outside of city of Salem giving the country feel that many desire. Vinyl windows and complete insulation make this home energy efficient. Newer appliances are included. Beautiful newer covered front decking add to the beauty and functionality of this home. Space rent is $615/mo - water & sewer included.

23. 2022-04-19
    status Active 370-char remark

    Show marketing remark (370 chars)

    Beautifully remodeled home in nice area, park is located just outside of city of Salem giving the country feel that many desire. Vinyl windows and complete insulation make this home energy efficient. Newer appliances are included. Beautiful newer covered front decking add to the beauty and functionality of this home. Space rent is $615/mo - water & sewer included.

24. 2022-04-14
    status Pending 370-char remark

    Show marketing remark (370 chars)

    Beautifully remodeled home in nice area, park is located just outside of city of Salem giving the country feel that many desire. Vinyl windows and complete insulation make this home energy efficient. Newer appliances are included. Beautiful newer covered front decking add to the beauty and functionality of this home. Space rent is $615/mo - water & sewer included.

25. 2022-04-08
    listed $55,700 Active 370-char remark

    Show marketing remark (370 chars)

    Beautifully remodeled home in nice area, park is located just outside of city of Salem giving the country feel that many desire. Vinyl windows and complete insulation make this home energy efficient. Newer appliances are included. Beautiful newer covered front decking add to the beauty and functionality of this home. Space rent is $615/mo - water & sewer included.

ⓘ 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 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 17 unhealthy d/yr today · 17 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,611
• − Mortgage interest: −$3,075
• − Property taxes: −$824
• − Insurance: −$274
• − Repairs & maintenance: −$1,169
• − Management: −$1,169
• − Depreciation: −$1,597
• Taxable income: $6,503
• Est. tax owed @ 24.0%: −$1,561
• After-tax cash flow: $5,429/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

• 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

+7.5% since first listed

10 events — show timeline

• 2026-05-08 Price Changed $59,900 WVMLS
• 2026-03-27 Relisted — WVMLS
• 2026-03-09 Pending — WVMLS
• 2026-02-07 Price Changed $64,900 WVMLS
• 2025-12-30 Listed $69,900 WVMLS
• 2022-05-05 Sold (MLS) $55,700 WVMLS
• 2022-04-21 Pending — WVMLS
• 2022-04-19 Relisted — WVMLS
• 2022-04-14 Pending — WVMLS
• 2022-04-08 Listed $55,700 WVMLS