3346 Sunnyview Rd NE #23 · Salem, OR 97301

$45,000

1 bd · 1.0 ba · 576 sqft · Manufactured public records · 241 Days on market

Built 1969 $78/sqft · 24% below area Est $59k · 24% under ↓ 47% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• 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

Well-kept manufactured home in a peaceful park setting! This charming 1-bedroom, 1-bath residence offers an open-concept layout connecting the living room, dining area, and kitchen, creating a bright and spacious feel. Large windows fill the home with natural light, enhancing the sense of openness and warmth. Enjoy the convenience of a carport and easy access to highways, making commuting simple and stress-free. A comfortable and affordable place to call home! New price! Motivated seller

Key facts

• Large windows
• Carport
• Open-concept layout

Tags

• PEACEFUL PARK SETTING
• OPEN-CONCEPT LAYOUT
• LARGE WINDOWS
• CARPORT
• EASY ACCESS TO HIGHWAYS

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $45k.

Deal economics

• At list price, monthly cash flow is $573 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.
• Cap rate 21.6% 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: 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.
• Zoned schools: Englewood Elementary School (321 students, 71% FRL); Parrish Middle School (670 students, 75% FRL); North Salem High School (2,239 students, 74% FRL) — zoned schools average 74% FRL vs 53% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.7%/yr); 280 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 44% 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 $311 of loan paydown is wiped out by about $1k 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 $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 241 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.

Recommended offer $39,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 241 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 1969 — 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 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?
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: 2.49% ✓
• Cap rate: 21.57%
• Cash-on-cash: 54.58%
• DSCR: 3.43
• GRM: 3.4

CMA / ARV

• ARV (median comp): $58,978
• List price: $45,000
• Delta: -23.70%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 49.3%
• Equity multiple: 3.06×
• Total profit: $25,943
• Equity at exit: $6,710

10-year hold

• IRR: 53.6%
• Equity multiple: 5.52×
• Total profit: $56,983
• Equity at exit: $3,891

Cash invested: $12,600 (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: 3.4×

Monthly cashflow live

• Estimated rent: $1,119 high
• Mortgage (P&I): −$236
• Tax est. 1.5%: −$56 /mo · $675/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$235
• Net cashflow: $573

Break-even live

Break-even rent $394

Max offer price $45,000

Occupancy floor 44%

Sensitivity live

Price	-10% $604	-5% $589	+0% $573	+5% $557	+10% $542
Rent	-10% $485	-5% $529	+0% $573	+5% $617	+10% $661
Rate	-1.0pp $596	-0.5pp $584	base $573	+0.5pp $561	+1.0pp $550

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1677 Savage Rd NE Salem, OR	1.0	1.0	650	$1,000	$1.54	25d	1	0.33mi
1601 Savage Rd NE Salem, OR	1.0	1.0	650	$1,000	$1.54	22d	2	0.35mi
2489 Coral Ave NE Salem, OR	1.0–2.0	1.0	817	$1,216	$1.49	15d	11	0.42mi
2425 Lansing Ave NE Unit A Salem, OR	1.0	1.0	500	$1,200	$2.40	22d	1	0.45mi
1723 Park Ave NE Unit 1727C Salem, OR	2.0	1.0	643	$1,095	$1.70	45d	1	0.48mi
4154 Sunnyview Rd NE Salem, OR	1.0–2.0	1.0	806	$1,275	$1.58	15d	6	0.55mi
3695 D St NE Salem, OR	1.0–2.0	1.0–2.0	1037	$1,095	$1.06	45d	3	0.61mi
2500 Lancaster Dr NE Unit 43 Salem, OR	1.0	1.0	604	$1,150	$1.90	25d	1	0.63mi
2500 Lancaster Dr NE Salem, OR	1.0–2.0	1.0	771	$1,100	$1.43	15d	11	0.64mi
793 Hawthorne Ave NE Unit 837 Salem, OR	2.0	1.0	750	$1,125	$1.50	15d	1	0.83mi
793 Hawthorne Ave NE Unit 803 Salem, OR	2.0	1.0	750	$1,225	$1.63	15d	1	0.83mi
909 Park Ave NE Salem, OR	1.0–3.0	1.0–2.0	942	$1,375	$1.46	15d	28	0.86mi
721-759 Hawthorne Ave NE Unit 759 Salem, OR	1.0	1.0	610	$895	$1.47	25d	1	0.88mi
721-759 Hawthorne Ave NE Unit 733 Salem, OR	2.0	1.0	712	$995	$1.40	45d	1	0.88mi
3213 Center St NE Salem, OR	1.0	1.0	500	$1,095	$2.19	45d	1	0.90mi
739 23rd St NE Salem, OR	1.0–3.0	1.0–1.5	868	$979	$1.13	22d	1	1.03mi
1310 18th St NE Salem, OR	1.0	1.0	450	$1,500	$3.33	45d	1	1.06mi
1835 Beach Ave NE Unit 11 Salem, OR	1.0	1.0	688	$1,145	$1.66	15d	1	1.16mi
1835 Beach Ave NE Unit 08 Salem, OR	1.0	1.0	688	$1,145	$1.66	25d	1	1.16mi
1835 Beach Ave NE Unit 4 Salem, OR	1.0	1.0	688	$1,145	$1.66	45d	1	1.16mi
1873-1901 Highway Ave NE Unit 1893F Salem, OR	1.0	1.0	750	$1,075	$1.43	15d	1	1.21mi
1873-1901 Highway Ave NE Unit 1895F Salem, OR	1.0	1.0	750	$1,075	$1.43	25d	1	1.22mi
1827 Highway Ave NE Unit Tiff1839 Salem, OR	1.0	1.0	566	$1,000	$1.77	45d	1	1.24mi
1873 Highway Ave NE Salem, OR	1.0–2.0	1.0	769	$1,075	$1.40	15d	2	1.27mi
635 Thompson Ave NE Salem, OR	—	1.0	390	$875	$2.24	45d	1	1.30mi
633 Thompson Ave NE Salem, OR	1.0	1.0	550	$995	$1.81	45d	1	1.30mi
2131 Center St NE Unit 2131-09 Salem, OR	1.0	1.0	700	$895	$1.28	45d	1	1.34mi
2007 Carleton Way NE Unit Crl506 Salem, OR	1.0	1.0	460	$1,000	$2.17	25d	1	1.38mi
2007 Carleton Way NE Unit Crl507 Salem, OR	1.0	1.0	460	$1,000	$2.17	45d	1	1.38mi
2392 Edgewood Ave NE Unit 15 Salem, OR	1.0	1.0	550	$1,000	$1.82	45d	1	1.40mi
1180 Pine St NE Salem, OR	1.0	1.0	610	$1,000	$1.64	45d	1	1.42mi
470 24th St NE Unit 19 Salem, OR	1.0	1.0	640	$1,050	$1.64	45d	1	1.42mi
2288-2376 Northgate Ave NE Unit 410-2372 Salem, OR	1.0	1.0	576	$1,150	$2.00	22d	1	1.44mi
2288-2376 Northgate Ave NE Salem, OR	1.0–2.0	1.0–1.5	701	$1,095	$1.56	15d	3	1.44mi
1102 Pine St NE Salem, OR	1.0	1.0	610	$1,000	$1.64	25d	1	1.44mi
3639 White Oak Ct NE Salem, OR	1.0	1.0	575	$1,100	$1.91	22d	1	1.47mi
830 14th St NE Salem, OR	1.0	1.0	625	$1,095	$1.75	45d	1	1.48mi
846 14th St NE Salem, OR	1.0	1.0	625	$1,095	$1.75	45d	1	1.48mi
1010 Garnet St NE Salem, OR	1.0	1.0	564	$1,450	$2.57	45d	1	1.50mi

Listing history 19 events

1. 2026-06-21
   days on market $45,000 Active 241 DOM
2. 2026-06-18
   days on market $45,000 Active 238 DOM
3. 2026-06-17
   days on market $45,000 Active 237 DOM
4. 2026-06-16
   days on market $45,000 Active 236 DOM
5. 2026-06-15
   days on market $45,000 Active 235 DOM
6. 2026-06-14
   days on market $45,000 Active 233 DOM
7. 2026-06-10
   days on market $45,000 Active 230 DOM
8. 2026-06-09
   days on market $45,000 Active 229 DOM
9. 2026-06-08
   days on market $45,000 Active 228 DOM
10. 2026-06-07
    days on market $45,000 Active 227 DOM
11. 2026-06-03
    days on market $45,000 Active 223 DOM
12. 2026-06-02
    days on market $45,000 Active 222 DOM
13. 2026-06-01
    days on market $45,000 Active 221 DOM
14. 2026-05-31
    days on market $45,000 Active 220 DOM
15. 2026-05-30
    days on market $45,000 Active 219 DOM
16. 2026-03-06
    price $45,000 492-char remark

    Show marketing remark (492 chars)

    Well-kept manufactured home in a peaceful park setting! This charming 1-bedroom, 1-bath residence offers an open-concept layout connecting the living room, dining area, and kitchen, creating a bright and spacious feel. Large windows fill the home with natural light, enhancing the sense of openness and warmth. Enjoy the convenience of a carport and easy access to highways, making commuting simple and stress-free. A comfortable and affordable place to call home! New price! Motivated seller

17. 2026-01-15
    price $64,900 492-char remark

    Show marketing remark (492 chars)

    Well-kept manufactured home in a peaceful park setting! This charming 1-bedroom, 1-bath residence offers an open-concept layout connecting the living room, dining area, and kitchen, creating a bright and spacious feel. Large windows fill the home with natural light, enhancing the sense of openness and warmth. Enjoy the convenience of a carport and easy access to highways, making commuting simple and stress-free. A comfortable and affordable place to call home! New price! Motivated seller

18. 2025-11-12
    price $74,900 492-char remark

    Show marketing remark (492 chars)

    Well-kept manufactured home in a peaceful park setting! This charming 1-bedroom, 1-bath residence offers an open-concept layout connecting the living room, dining area, and kitchen, creating a bright and spacious feel. Large windows fill the home with natural light, enhancing the sense of openness and warmth. Enjoy the convenience of a carport and easy access to highways, making commuting simple and stress-free. A comfortable and affordable place to call home! New price! Motivated seller

19. 2025-10-23
    listed $85,000 Active 492-char remark

    Show marketing remark (492 chars)

    Well-kept manufactured home in a peaceful park setting! This charming 1-bedroom, 1-bath residence offers an open-concept layout connecting the living room, dining area, and kitchen, creating a bright and spacious feel. Large windows fill the home with natural light, enhancing the sense of openness and warmth. Enjoy the convenience of a carport and easy access to highways, making commuting simple and stress-free. A comfortable and affordable place to call home! New price! Motivated seller

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 13% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $13,428
• − Mortgage interest: −$2,521
• − Property taxes: −$675
• − Insurance: −$225
• − Repairs & maintenance: −$1,074
• − Management: −$1,074
• − Depreciation: −$1,309
• Taxable income: $6,550
• Est. tax owed @ 24.0%: −$1,572
• After-tax cash flow: $5,305/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): 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

-47.1% since first listed

4 events — show timeline

• 2026-03-06 Price Changed $45,000 RMLS
• 2026-01-15 Price Changed $64,900 RMLS
• 2025-11-12 Price Changed $74,900 RMLS
• 2025-10-23 Listed $85,000 RMLS