3346 Sunnyview Rd NE #23 · Salem, OR 97301

$45,000

1 bd · 1.0 ba · 576 sqft · Manufactured public records · 289 Days on market

Manufactured home Built 1969 Fair condition $78/sqft · 23% below area Est $59k · 23% 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
• Appreciation +2.5/10.0
• Rent growth +2.3/5.0
• Condition / age +2.2/5.0
• Manufactured-home adj. -6.4

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!

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. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $370 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($862 rent vs $45k).
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.2% 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); 369 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals lingering (median 73d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% 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).
• This rent is only 17% of the median local income ($60k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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 ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 289 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 289 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.91% ✓
• Cap rate: 16.15%
• Cash-on-cash: 35.21%
• DSCR: 2.57
• GRM: 4.4

CMA / ARV

• ARV (median comp): $58,815
• List price: $45,000
• Delta: -23.49%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3103 Tess Ave	0.55mi	2/1.0 (+1)	633 (+10%)	7mo	$333,000	$526	47
1165 Hunt St NE	1.27mi	1/1.0	580 (+1%)	25mo	$247,000	$426	44
2035 Evergreen Ave NE	0.51mi	2/1.0 (+1)	690 (+20%)	4mo	$245,000	$355	42
2692 Sunnyview Rd	0.49mi	2/1.0 (+1)	617 (+7%)	26mo	$257,500	$417	40
800 41st Pl	1.05mi	1/1.0	528 (-8%)	14mo	$55,000	$104	40
4915 Swegle Rd NE #51	1.47mi	2/1.0 (+1)	720 (+25%)	2mo	$22,000	$31	34
3408 Williams Ave NE	1.15mi	2/1.0 (+1)	702 (+22%)	4mo	$260,000	$370	32
807 41st Ave #66	1.04mi	2/1.0 (+1)	672 (+17%)	10mo	$59,800	$89	27
1325 18th St NE	1.06mi	1/1.0	672 (+17%)	22mo	$289,000	$430	22
1890 45th Ave NE	0.95mi	1/1.0	720 (+25%)	22mo	$265,000	$368	21
780 NE Thompson Ave	1.17mi	2/1.0 (+1)	720 (+25%)	20mo	$309,000	$429	19
904 Norman Ave NE	0.73mi	2/1.0 (+1)	700 (+22%)	28mo	$319,000	$456	16

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: 27.3%
• Equity multiple: 2.09×
• Total profit: $13,743
• Equity at exit: $6,710

10-year hold

• IRR: 33.0%
• Equity multiple: 3.59×
• Total profit: $32,583
• 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 →

Active competition Active MLS

• For sale now: 2 active
• Median asking: $67,450 ($97/sqft)
• Median days on market: 169 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +5.7% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 97301

• Rents YoY: -0.7%
• Active inventory: 369
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $862 high
• Mortgage (P&I): −$236
• Tax est. 1.5%: −$56 /mo · $675/yr
• Insurance: −$19
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$181
• Net cashflow: $370

Break-even live

Break-even rent $394

Max offer price $45,000

Occupancy floor 52%

Sensitivity live

Price	-10% $401	-5% $385	+0% $370	+5% $354	+10% $339
Rent	-10% $302	-5% $336	+0% $370	+5% $404	+10% $438
Rate	-1.0pp $392	-0.5pp $381	base $370	+0.5pp $358	+1.0pp $346

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
• Club membership (one-time): —
• 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	72d	1	0.33mi
1601 Savage Rd NE Salem, OR	1.0	1.0	650	$1,000	$1.54	70d	2	0.35mi
2489 Coral Ave NE Salem, OR	1.0–2.0	1.0	817	$1,216	$1.49	63d	11	0.42mi
2425 Lansing Ave NE Unit A Salem, OR	1.0	1.0	500	$1,200	$2.40	70d	1	0.45mi
1723 Park Ave NE Unit 1727C Salem, OR	2.0	1.0	643	$1,095	$1.70	93d	1	0.48mi
4154 Sunnyview Rd NE Salem, OR	1.0–2.0	1.0	806	$1,275	$1.58	63d	6	0.55mi
3695 D St NE Salem, OR	1.0–2.0	1.0–2.0	1037	$1,095	$1.06	93d	3	0.61mi
2500 Lancaster Dr NE Unit 43 Salem, OR	1.0	1.0	604	$1,150	$1.90	72d	1	0.63mi
2500 Lancaster Dr NE Salem, OR	1.0–2.0	1.0	771	$1,100	$1.43	63d	11	0.64mi
793 Hawthorne Ave NE Unit 837 Salem, OR	2.0	1.0	750	$1,125	$1.50	63d	1	0.83mi
793 Hawthorne Ave NE Unit 803 Salem, OR	2.0	1.0	750	$1,225	$1.63	63d	1	0.83mi
909 Park Ave NE Salem, OR	1.0–3.0	1.0–2.0	942	$1,375	$1.46	63d	28	0.86mi
721-759 Hawthorne Ave NE Unit 733 Salem, OR	2.0	1.0	712	$995	$1.40	93d	1	0.88mi
721-759 Hawthorne Ave NE Unit 759 Salem, OR	1.0	1.0	610	$895	$1.47	72d	1	0.88mi
3213 Center St NE Salem, OR	1.0	1.0	500	$1,095	$2.19	93d	1	0.90mi
739 23rd St NE Salem, OR	1.0–3.0	1.0–1.5	868	$979	$1.13	70d	1	1.03mi
1310 18th St NE Salem, OR	1.0	1.0	450	$1,500	$3.33	93d	1	1.06mi
1835 Beach Ave NE Unit 4 Salem, OR	1.0	1.0	688	$1,145	$1.66	93d	1	1.16mi
1835 Beach Ave NE Unit 11 Salem, OR	1.0	1.0	688	$1,145	$1.66	63d	1	1.16mi
1835 Beach Ave NE Unit 08 Salem, OR	1.0	1.0	688	$1,145	$1.66	72d	1	1.16mi
1873-1901 Highway Ave NE Unit 1893F Salem, OR	1.0	1.0	750	$1,075	$1.43	63d	1	1.21mi
1873-1901 Highway Ave NE Unit 1895F Salem, OR	1.0	1.0	750	$1,075	$1.43	72d	1	1.22mi
1827 Highway Ave NE Unit Tiff1839 Salem, OR	1.0	1.0	566	$1,000	$1.77	93d	1	1.24mi
1873 Highway Ave NE Salem, OR	1.0–2.0	1.0	769	$1,075	$1.40	63d	2	1.27mi
635 Thompson Ave NE Salem, OR	—	1.0	390	$875	$2.24	93d	1	1.30mi
633 Thompson Ave NE Salem, OR	1.0	1.0	550	$995	$1.81	93d	1	1.30mi
2131 Center St NE Unit 2131-09 Salem, OR	1.0	1.0	700	$895	$1.28	93d	1	1.34mi
2007 Carleton Way NE Unit Crl506 Salem, OR	1.0	1.0	460	$1,000	$2.17	72d	1	1.38mi
2007 Carleton Way NE Unit Crl507 Salem, OR	1.0	1.0	460	$1,000	$2.17	93d	1	1.38mi
2392 Edgewood Ave NE Unit 15 Salem, OR	1.0	1.0	550	$1,000	$1.82	93d	1	1.40mi
1180 Pine St NE Salem, OR	1.0	1.0	610	$1,000	$1.64	93d	1	1.42mi
470 24th St NE Unit 19 Salem, OR	1.0	1.0	640	$1,050	$1.64	93d	1	1.42mi
2288-2376 Northgate Ave NE Unit 410-2372 Salem, OR	1.0	1.0	576	$1,150	$2.00	70d	1	1.44mi
2288-2376 Northgate Ave NE Salem, OR	1.0–2.0	1.0–1.5	701	$1,095	$1.56	63d	3	1.44mi
1102 Pine St NE Salem, OR	1.0	1.0	610	$1,000	$1.64	72d	1	1.44mi
3639 White Oak Ct NE Salem, OR	1.0	1.0	575	$1,100	$1.91	70d	1	1.47mi
830 14th St NE Salem, OR	1.0	1.0	625	$1,095	$1.75	93d	1	1.48mi
846 14th St NE Salem, OR	1.0	1.0	625	$1,095	$1.75	93d	1	1.48mi
1010 Garnet St NE Salem, OR	1.0	1.0	564	$1,450	$2.57	93d	1	1.50mi

Listing history 50 events

1. 2026-08-08
   days on market $45,000 Active 289 DOM
2. 2026-08-07
   days on market $45,000 Active 288 DOM
3. 2026-08-06
   days on market $45,000 Active 287 DOM
4. 2026-08-05
   days on market $45,000 Active 286 DOM
5. 2026-08-04
   days on market $45,000 Active 285 DOM
6. 2026-08-03
   days on market $45,000 Active 284 DOM
7. 2026-07-31
   days on market $45,000 Active 281 DOM
8. 2026-07-29
   days on market $45,000 Active 279 DOM
9. 2026-07-27
   days on market $45,000 Active 277 DOM
10. 2026-07-25
    days on market $45,000 Active 275 DOM
11. 2026-07-24
    days on market $45,000 Active 274 DOM
12. 2026-07-23
    days on market $45,000 Active 273 DOM
13. 2026-07-22
    days on market $45,000 Active 272 DOM
14. 2026-07-21
    days on market $45,000 Active 271 DOM
15. 2026-07-18
    days on market $45,000 Active 268 DOM
16. 2026-07-16
    days on market $45,000 Active 266 DOM
17. 2026-07-16
    days on market $45,000 Active 265 DOM
18. 2026-07-14
    days on market $45,000 Active 264 DOM
19. 2026-07-13
    days on market $45,000 Active 263 DOM
20. 2026-07-12
    days on market $45,000 Active 262 DOM
21. 2026-07-11
    days on market $45,000 Active 261 DOM
22. 2026-07-10
    days on market $45,000 Active 260 DOM
23. 2026-07-09
    days on market $45,000 Active 259 DOM
24. 2026-07-08
    days on market $45,000 Active 258 DOM
25. 2026-07-07
    days on market $45,000 Active 257 DOM
26. 2026-07-06
    days on market $45,000 Active 256 DOM
27. 2026-07-05
    days on market $45,000 Active 255 DOM
28. 2026-07-04
    days on market $45,000 Active 254 DOM
29. 2026-07-03
    days on market $45,000 Active 253 DOM
30. 2026-07-02
    days on market $45,000 Active 252 DOM
31. 2026-07-01
    days on market $45,000 Active 251 DOM
32. 2026-06-30
    days on market $45,000 Active 250 DOM
33. 2026-06-29
    days on market $45,000 Active 249 DOM
34. 2026-06-28
    days on market $45,000 Active 248 DOM
35. 2026-06-28
    days on market $45,000 Active 247 DOM
36. 2026-06-27
    days on market $45,000 Active 246 DOM
37. 2026-06-25
    days on market $45,000 Active 244 DOM
38. 2026-06-23
    days on market $45,000 Active 242 DOM
39. 2026-06-21
    days on market $45,000 Active 241 DOM
40. 2026-06-18
    days on market $45,000 Active 238 DOM
41. 2026-06-17
    days on market $45,000 Active 237 DOM
42. 2026-06-16
    days on market $45,000 Active 236 DOM
43. 2026-06-15
    days on market $45,000 Active 235 DOM
44. 2026-06-14
    days on market $45,000 Active 233 DOM
45. 2026-06-10
    days on market $45,000 Active 230 DOM
46. 2026-06-09
    days on market $45,000 Active 229 DOM
47. 2026-06-08
    days on market $45,000 Active 228 DOM
48. 2026-06-07
    days on market $45,000 Active 227 DOM
49. 2026-06-03
    days on market $45,000 Active 223 DOM
50. 2026-06-02
    days on market $45,000 Active 222 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 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: $10,340
• − Mortgage interest: −$2,521
• − Property taxes: −$675
• − Insurance: −$225
• − Repairs & maintenance: −$827
• − Management: −$827
• − Depreciation: −$1,309
• Taxable income: $3,956
• Est. tax owed @ 24.0%: −$949
• After-tax cash flow: $3,487/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 · 9 photos

Fair 45/100 Cosmetic rehab Est. rehab $2,880–$8,640 screening

A well-maintained manufactured home with average condition, offering a good starting point for cosmetic upgrades to enhance its curb appeal and value.

Deferred maintenance Est. $70,000–$210,000 screening

• Major Roof (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — Roof appears old and damaged
• Major Hvac (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — Hvac unit appears old and damaged
• Major Windows (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — Windows appear old and damaged
• Major Electrical (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — Electrical panel appears old and damaged
• Major Plumbing (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — Plumbing appears old and damaged
• Major Exterior (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — Exterior appears old and damaged
• Major Other (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — Other components appear old and damaged

Repairs flagged

• Minor Exterior siding — Weathered appearance suggests minor wear and may need repainting.
• Minor Landscaping — Basic landscaping may need some attention to enhance curb appeal.

Value-add opportunities

• Both Painting exterior siding — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Landscaping improvements — Enhances curb appeal and can increase both resale and rental value. ↑
• Rental HVAC maintenance — Ensures the home is comfortable and energy-efficient, which is important for rental properties. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

Zoned Schools

Elementary Englewood Elementary School Middle Parrish Middle School High North Salem High School

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

B Composite livability gradescore 79/100

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 · 360,940 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: 17% of renters

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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%

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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%

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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

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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