5521 43rd Ave NE · Salem, OR 97305

$59,000

2 bd · 1.0 ba · 784 sqft · Manufactured public records · 19 Days on market

Built 1975

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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 +7.5/15.0
• Livability +4.0/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Don't miss out on this beautifully updated home located in Shady Acres 55+ Community. New kitchen cabinets, new bathroom vanity, new windows, doors, exterior paint, interior paint, all new appliances including range, dishwasher, washer, dryer, and refrigerator. Spectacular side yard for quite time or entertaining guests. Small shop with power and garden shed, plenty of storage space.

Key facts

• Exterior paint
• New doors
• New bathroom vanity

Tags

• UPDATED HOME
• NEW KITCHEN CABINETS
• NEW BATHROOM VANITY
• NEW WINDOWS
• NEW DOORS
• EXTERIOR PAINT

Property features AI

Finance

• Other: Mobile home make: Moduline, model: Corinthian; Serial #: 14602BRFK918
• HOA & community: Located in Shady Acres mobile home park (55+ community); park rent covers water, sewer, and garbage

Exterior

• Parking: One covered carport; One garage space
• Utilities: City sewer; Private/community district water; Electric water heater; Electric power
• Home design: Single wide mobile home; Located in a 55+ (adult) park; Park rent includes water, sewer, and garbage
• Construction: Built in 1975; Aluminum siding; Pier foundation; Roof described as 'Other' (see remarks)
• Exterior features: Partially fenced yard; Deck; Landscaped yard; Small powered shop and garden shed (outbuildings)

Interior

• Kitchen: Electric range; Dishwasher; Refrigerator included
• Bedrooms: Master bedroom on the main level; Second bedroom on the main level
• Flooring: Vinyl
• Bathrooms: One bathroom on the main level
• Heating & cooling: Electric heating; Central air conditioning; Heat pump; Floor furnace
• Interior features: Vinyl flooring; Disposal
• Laundry & utility: Washer and dryer included; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $59k.

Deal economics

• At list price, monthly cash flow is $842 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $59k).
• Recommended offer: $58k (1.5% below list) — sets the bar for market timing.
• Cap rate 23.4% 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: 175 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 43% 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 $408 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 $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($58k) is reasonable based on typical stale-listing flexibility.

Recommended offer $58,115 (1.5% below list)

Questions for the listing agent

1. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 2.68% ✓
• Cap rate: 23.42%
• Cash-on-cash: 61.16%
• DSCR: 3.72
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $25,872
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5512 43rd Ave NE	0.02mi	2/1.0	784 (0%)	22mo	$26,000	$33	80
5422 Portland Rd NE #19	0.10mi	2/2.0	828 (+6%)	17mo	$22,500	$27	68
5534 NE 43rd Pl	0.05mi	2/1.0	700 (-11%)	21mo	$15,000	$21	62
4882 Lancaster Dr NE #71	0.61mi	2/1.0	784 (0%)	13mo	$30,000	$38	61

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 60.0%
• Equity multiple: 3.67×
• Total profit: $44,092
• Equity at exit: $8,797

10-year hold

• IRR: 64.7%
• Equity multiple: 7.51×
• Total profit: $107,546
• Equity at exit: $5,101

Cash invested: $16,520 (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: 3.1×

Monthly cashflow live

• Estimated rent: $1,582 high
• Mortgage (P&I): −$309
• Tax est. 1.5%: −$74 /mo · $885/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $842

Break-even live

Break-even rent $516

Max offer price $59,000

Occupancy floor 42%

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5115 Countryside St NE Salem, OR	3.0	1.0–2.0	876	$1,958	$2.23	14d	20	0.43mi
4828 Lancaster Dr NE Salem, OR	2.0	1.0	832	$1,435	$1.72	14d	5	0.76mi
4040 Hayesville Dr NE Salem, OR	1.0–3.0	1.0–2.0	927	$1,695	$1.83	14d	25	0.96mi
4624 Lancaster Dr NE Salem, OR	2.0–3.0	2.0–2.5	963	$1,495	$1.55	14d	10	1.10mi
4553 Lancaster Dr NE Unit 4553-B Salem, OR	1.0	1.0	575	$995	$1.73	43d	1	1.18mi
4007 Iberis St NE Unit 4007 Salem, OR	2.0	1.0	850	$1,195	$1.41	43d	1	1.47mi
3942 Ward Dr NE Salem, OR	1.0–2.0	1.0–2.0	775	$1,550	$2.00	43d	3	1.49mi

Listing history 14 events

1. 2026-06-18
   days on market $59,000 Active 19 DOM
2. 2026-06-17
   days on market $59,000 Active 18 DOM
3. 2026-06-16
   days on market $59,000 Active 17 DOM
4. 2026-06-15
   days on market $59,000 Active 16 DOM
5. 2026-06-14
   days on market $59,000 Active 14 DOM
6. 2026-06-10
   days on market $59,000 Active 11 DOM
7. 2026-06-09
   days on market $59,000 Active 10 DOM
8. 2026-06-08
   days on market $59,000 Active 9 DOM
9. 2026-06-07
   days on market $59,000 Active 8 DOM
10. 2026-06-03
    days on market $59,000 Active 4 DOM
11. 2026-06-02
    days on market $59,000 Active 3 DOM
12. 2026-06-01
    days on market $59,000 Active 2 DOM
13. 2026-05-31
    remarks 386-char remark
14. 2026-05-31
    listed $59,000 Active 1 DOM

ⓘ 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 13 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,984
• − Mortgage interest: −$3,305
• − Property taxes: −$885
• − Insurance: −$295
• − Repairs & maintenance: −$1,519
• − Management: −$1,519
• − Depreciation: −$1,716
• Taxable income: $9,745
• Est. tax owed @ 24.0%: −$2,339
• After-tax cash flow: $7,765/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
• 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

+18.2% since first listed

2 events — show timeline

• 2026-05-31 Price Changed $59,000 WVMLS
• 2026-05-31 Listed $49,900 WVMLS

Property tax history

-14.1%/yr

Latest (2010): $83 · -14.1% YoY. Source: county tax records.