4730 Auburn Rd NE #123 · Four Corners, OR 97301

$79,900

3 bd · 2.0 ba · 1,536 sqft · Manufactured public records · 69 Days on market

Built 1985 $52/sqft · 26% below area Est $107k · 26% 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

Accepted Offer with Contingencies. Enjoy the lifestyle at Salem Greene. Well-kept 55+ community with clubhouse and peaceful setting within the park. Spacious 3 bed 2 bath home with large kitchen and ample storage. Comfortable living area with functional layout. Generous primary suite. Two additional bedrooms offer flexibility for guests or office. Plenty of natural light throughout. Covered patio provides great space to relax or entertain.

Key facts

• Large kitchen
• Covered patio
• Functional layout

Tags

• LARGE KITCHEN
• AMPLE STORAGE
• COMFORTABLE LIVING AREA
• FUNCTIONAL LAYOUT
• COVERED PATIO

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $80k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.
• Cap rate 25.7% 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); 280 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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).
• At $2,316/mo this rent would consume 46% of the median local household income ($60k/yr) (locally 3089% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $552 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 $22k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $44k; list at $80k implies a 83% gain — meaningful room to come down on a strong offer.

Recommended offer $75,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% 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: 2.90% ✓
• Cap rate: 25.70%
• Cash-on-cash: 69.31%
• DSCR: 4.08
• GRM: 2.9

CMA / ARV

• ARV (median comp): $107,278
• List price: $79,900
• Delta: -25.52%
• Verdict: UNDERPRICED
• Comps: 19 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4730 Auburn Rd NE #20	0.00mi	2/2.0 (-1)	1,440 (-6%)	4mo	$85,000	$59	81
4730 Auburn Rd NE #44	0.00mi	3/2.0	1,620 (+6%)	12mo	$129,500	$80	81
4730 Auburn Rd NE #104	0.02mi	2/2.0 (-1)	1,526 (-1%)	15mo	$123,900	$81	80
382 Chadbourne Ln NE	0.24mi	3/2.0	1,512 (-2%)	9mo	$385,000	$255	79
4730 Auburn Rd NE #43	0.00mi	3/2.0	1,336 (-13%)	1mo	$134,900	$101	78
4730 NE Auburn Rd #148	0.00mi	3/2.0	1,344 (-12%)	7mo	$105,000	$78	73
127 Clearwater Ave NE	0.34mi	3/2.0	1,620 (+6%)	4mo	$95,000	$59	72
283 Broadmore Ave NE	0.15mi	3/2.0	1,342 (-13%)	2mo	$60,000	$45	70
663 Royalty Cir NE	0.36mi	2/2.0 (-1)	1,404 (-9%)	4mo	$164,900	$117	61
658 Royalty Cir NE	0.35mi	3/2.0	1,404 (-9%)	14mo	$148,150	$106	58
4637 Amber St NE	0.24mi	2/2.0 (-1)	1,344 (-12%)	8mo	$37,000	$28	57
997 Wind Meadows Way #64	0.74mi	4/2.0 (+1)	1,512 (-2%)	2mo	$134,999	$89	56

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: 65.4%
• Equity multiple: 3.80×
• Total profit: $62,588
• Equity at exit: $11,913

10-year hold

• IRR: 68.8%
• Equity multiple: 7.00×
• Total profit: $134,343
• Equity at exit: $6,908

Cash invested: $22,372 (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 97301

• Rents YoY: -0.7%
• Active inventory: 280
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $2,316 high
• Mortgage (P&I): −$419
• Tax from tax record: −$86 /mo · $1,026/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$486
• Net cashflow: $1,292

Break-even live

Break-even rent $681

Max offer price $79,900

Occupancy floor 39%

Sensitivity live

Price	-10% $1,337	-5% $1,315	+0% $1,292	+5% $1,270	+10% $1,247
Rent	-10% $1,109	-5% $1,201	+0% $1,292	+5% $1,384	+10% $1,475
Rate	-1.0pp $1,332	-0.5pp $1,312	base $1,292	+0.5pp $1,271	+1.0pp $1,250

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
434 Greencrest St NE Salem, OR	3.0	2.0	1637	$3,900	$2.38	24d	1	0.24mi
4485 Monroe Ave NE Salem, OR	4.0	2.0	1200	$2,195	$1.83	45d	1	0.25mi
4850 Milo Ave NE Salem, OR	4.0	3.0	1880	$2,795	$1.49	45d	1	0.27mi
412 Lost Lake St NE Salem, OR	4.0	3.0	1662	$2,495	$1.50	24d	1	0.28mi
4833 Thyme Ave NE Salem, OR	3.0	2.5	1681	$2,545	$1.51	15d	1	0.29mi
411 Pietro St NE Salem, OR	4.0	2.5	1880	$2,495	$1.33	45d	1	0.33mi
143 Connecticut Ave SE Unit 145 Salem, OR	3.0	1.0	1207	$1,595	$1.32	15d	1	0.38mi
124 Stafford Ln NE Unit 124-203 Salem, OR	3.0	2.0	1052	$1,595	$1.52	45d	1	0.47mi
102 Greencrest St NE Salem, OR	3.0	1.0–2.0	914	$2,205	$2.41	15d	25	0.47mi
4836 Tanglewood Ct SE Salem, OR	3.0	2.0	1316	$2,150	$1.63	24d	1	0.61mi
295 Colt Ln NE Salem, OR	3.0	2.0	1052	$1,575	$1.50	15d	1	0.83mi
3750-3762 Amber St NE Unit 3762-107 Salem, OR	2.0	2.5	1150	$1,595	$1.39	45d	1	0.88mi
3750-3762 Amber St NE Unit 3758-107 Salem, OR	2.0	2.5	1150	$1,595	$1.39	24d	1	0.88mi
4807 Chinook Ct SE Salem, OR	3.0	1.5	1104	$2,200	$1.99	15d	1	0.97mi
3897 Meadowlawn Loop SE Salem, OR	1.0–3.0	1.0–2.0	962	$1,958	$2.03	15d	26	1.06mi
4776 Buffalo Dr SE Salem, OR	3.0	1.0	1369	$2,150	$1.57	45d	1	1.08mi
4538 Nicholas Ct NE Salem, OR	4.0	2.5	2000	$2,995	$1.50	45d	1	1.22mi
3695 D St NE Salem, OR	1.0–2.0	1.0–2.0	1037	$1,650	$1.59	45d	3	1.24mi
5192 Caplinger Rd SE Salem, OR	1.0–3.0	1.0–2.0	927	$1,802	$1.94	15d	25	1.29mi
990 Charter Pl NE Salem, OR	3.0	2.5	1248	$1,895	$1.52	45d	1	1.39mi
1973 45th Ave NE Salem, OR	2.0	1.0–2.0	1043	$1,360	$1.30	15d	2	1.41mi
1447 Connecticut St SE Salem, OR	3.0	2.0	1258	$2,675	$2.13	45d	1	1.42mi

Listing history 19 events

1. 2026-06-21
   days on market $79,900 Active 69 DOM
2. 2026-06-18
   days on market $79,900 Active 66 DOM
3. 2026-06-17
   days on market $79,900 Active 65 DOM
4. 2026-06-16
   days on market $79,900 Active 64 DOM
5. 2026-06-15
   days on market $79,900 Active 63 DOM
6. 2026-06-14
   days on market $79,900 Active 61 DOM
7. 2026-06-10
   days on market $79,900 Active 58 DOM
8. 2026-06-09
   days on market $79,900 Active 57 DOM
9. 2026-06-08
   days on market $79,900 Active 56 DOM
10. 2026-06-07
    days on market $79,900 Active 55 DOM
11. 2026-06-03
    days on market $79,900 Active 51 DOM
12. 2026-06-02
    days on market $79,900 Active 50 DOM
13. 2026-06-01
    days on market $79,900 Active 49 DOM
14. 2026-05-31
    days on market $79,900 Active 48 DOM
15. 2026-05-30
    days on market $79,900 Active 47 DOM
16. 2026-05-11
    historical Active under Contract 443-char remark

    Show marketing remark (443 chars)

    Accepted Offer with Contingencies. Enjoy the lifestyle at Salem Greene. Well-kept 55+ community with clubhouse and peaceful setting within the park. Spacious 3 bed 2 bath home with large kitchen and ample storage. Comfortable living area with functional layout. Generous primary suite. Two additional bedrooms offer flexibility for guests or office. Plenty of natural light throughout. Covered patio provides great space to relax or entertain.

17. 2026-04-13
    listed $79,900 Active 443-char remark

    Show marketing remark (443 chars)

    Accepted Offer with Contingencies. Enjoy the lifestyle at Salem Greene. Well-kept 55+ community with clubhouse and peaceful setting within the park. Spacious 3 bed 2 bath home with large kitchen and ample storage. Comfortable living area with functional layout. Generous primary suite. Two additional bedrooms offer flexibility for guests or office. Plenty of natural light throughout. Covered patio provides great space to relax or entertain.

18. 2025-10-28
    price $89,500
19. 1984-10-13
    soldstatus $43,659

ⓘ 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: $1,026 · $86/mo
• Projected year-2 tax: $1,026 · $86/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 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: $27,797
• − Mortgage interest: −$4,476
• − Property taxes: −$1,026
• − Insurance: −$400
• − Repairs & maintenance: −$2,224
• − Management: −$2,224
• − Depreciation: −$2,324
• Taxable income: $15,124
• Est. tax owed @ 24.0%: −$3,630
• After-tax cash flow: $11,876/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

+83.0% since first listed

4 events — show timeline

• 2026-05-11 Contingent — WVMLS
• 2026-04-13 Listed $79,900 WVMLS
• 2025-10-28 Price Changed $89,500 WVMLS
• 1984-10-13 Sold (Public Records) $43,659 Public Records

Property tax history

+2.4%/yr

Latest (2025): $1,026 · +3.3% YoY. Source: county tax records.