4766 Amber St · Four Corners, OR 97301

$27,000

2 bd · 1.0 ba · 840 sqft · Manufactured public records · 272 Days on market

Built 1993 $32/sqft · 18% below area Est $33k · 18% under

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Why this score? — see what drove the C- 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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Check out this charming & cozy home featuring vaulted ceilings & open floor plan. Well designed kitchen w/dining nook, pantry & coffee bar. Home is on a corner lot in Royal Estates, a 55+ park, providing water, sewer, garbage and access to community clubhouse.

Key facts

• Pantry
• Open floor plan
• Vaulted ceilings

Tags

• VAULTED CEILINGS
• OPEN FLOOR PLAN
• WELL DESIGNED KITCHEN
• DINING NOOK
• PANTRY
• COFFEE BAR

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $27k.

Deal economics

• At list price, monthly cash flow is $942 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $27k).
• Recommended offer: $24k (12.0% below list) — sets the bar for market timing.
• Cap rate 48.2% 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); 276 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $187 of loan paydown is wiped out by about $810 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 $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 272 days — a 12% lower offer ($24k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $17k; list at $27k implies a 61% gain — meaningful room to come down on a strong offer.

Recommended offer $23,760 (12.0% below list)

Questions for the listing agent

1. It's been on market 272 days. Have you received any prior offers? Is the seller open to a 12% 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: 5.30% ✓
• Cap rate: 48.17%
• Cash-on-cash: 149.57%
• DSCR: 7.66
• GRM: 1.6

CMA / ARV

• ARV (median comp): $33,013
• List price: $27,000
• Delta: -18.21%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4849 State St #41	0.13mi	2/1.0	840 (0%)	3mo	$89,900	$107	91
193 Broadmore Ave NE	0.07mi	2/1.0	910 (+8%)	6mo	$60,000	$66	78
287 Broadmore Ave NE #287	0.01mi	2/1.0	924 (+10%)	12mo	$7,700	$8	73
4725 Avens Ave	0.07mi	1/1.0 (-1)	924 (+10%)	10mo	$1,001	$1	67
106 Clearwater Ave NE	0.13mi	3/1.0 (+1)	756 (-10%)	12mo	$29,999	$40	62

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: —
• Equity multiple: 7.81×
• Total profit: $51,473
• Equity at exit: $4,026

10-year hold

• IRR: —
• Equity multiple: 15.02×
• Total profit: $105,999
• Equity at exit: $2,334

Cash invested: $7,560 (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: 276
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $1,430 high
• Mortgage (P&I): −$142
• Tax from tax record: −$34 /mo · $412/yr
• Insurance: −$11
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $942

Break-even live

Break-even rent $237

Max offer price $27,000

Occupancy floor 29%

Sensitivity live

Price	-10% $958	-5% $950	+0% $942	+5% $935	+10% $927
Rent	-10% $829	-5% $886	+0% $942	+5% $999	+10% $1,055
Rate	-1.0pp $956	-0.5pp $949	base $942	+0.5pp $935	+1.0pp $928

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: $6,750
• Closing costs: $810
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
138 Bayview Way NE Salem, OR	2.0	1.0	850	$1,395	$1.64	14d	3	0.10mi
4611 State St Unit 4611 Salem, OR	2.0	1.0	840	$1,450	$1.73	24d	1	0.17mi
143 Connecticut Ave SE Unit 143 Salem, OR	1.0	1.0	705	$950	$1.35	14d	1	0.24mi
102 Greencrest St NE Salem, OR	3.0	1.0–2.0	914	$1,918	$2.10	14d	25	0.32mi
4433 Mahrt Ave SE Unit 4435-201 Salem, OR	2.0	2.0	888	$1,525	$1.72	24d	1	0.41mi
4433 Mahrt Ave SE Unit 4437-206 Salem, OR	2.0	2.0	932	$1,525	$1.64	44d	1	0.41mi
4433 Mahrt Ave SE Unit 4433-205 Salem, OR	1.0	1.0	688	$1,225	$1.78	44d	1	0.43mi
124 Stafford Ln NE Unit 124-203 Salem, OR	3.0	2.0	1052	$1,595	$1.52	44d	1	0.46mi
133 Stafford Ln NE Unit 133-103 Salem, OR	2.0	1.0	827	$1,195	$1.44	44d	1	0.48mi
4242 State St Salem, OR	1.0	1.0	684	$1,325	$1.94	24d	1	0.54mi
4166 State St Salem, OR	2.0	1.0	788	$1,350	$1.71	14d	1	0.61mi
4135 State St Unit 11 Salem, OR	2.0	1.0	820	$1,195	$1.46	44d	1	0.65mi
4704 Center St NE Salem, OR	1.0	1.0	658	$1,472	$2.24	14d	15	0.66mi
435 Fountain Valley Way NE Salem, OR	1.0–2.0	1.0–2.0	939	$1,559	$1.66	21d	5	0.74mi
4807 Chinook Ct SE Salem, OR	3.0	1.5	1104	$2,200	$1.99	14d	1	0.74mi
4341 Center St NE Salem, OR	2.0	1.0	828	$1,130	$1.36	44d	1	0.82mi
178 Lancaster Dr SE Salem, OR	2.0	2.0	952	$1,495	$1.57	14d	1	0.83mi
295 Colt Ln NE Salem, OR	3.0	2.0	1052	$1,575	$1.50	14d	1	0.91mi
1029 Raffon Ct SE Unit AR7171-3 Salem, OR	2.0	1.5	927	$1,700	$1.83	24d	1	0.93mi
3897 Meadowlawn Loop SE Salem, OR	1.0–3.0	1.0–2.0	962	$1,619	$1.68	14d	26	1.00mi
430 Brittany Way NE Unit 369-421 Salem, OR	2.0	2.0	920	$1,400	$1.52	44d	1	1.01mi
3880 Auburn Rd NE Unit 3896 Salem, OR	2.0	1.0	850	$1,450	$1.71	44d	1	1.01mi
3828 Bayonne Dr SE Salem, OR	2.0	1.0	980	$1,299	$1.33	14d	1	1.03mi
3822 Bayonne Dr SE Salem, OR	2.0	1.0	980	$1,299	$1.33	24d	1	1.04mi
5192 Caplinger Rd SE Salem, OR	1.0–3.0	1.0–2.0	927	$1,554	$1.67	14d	25	1.07mi
4976 Turquoise Ave SE Salem, OR	2.0	2.0	918	$1,495	$1.63	14d	5	1.18mi
1569 Whitaker Dr SE Salem, OR	1.0–3.0	1.0–2.0	933	$1,799	$1.93	14d	1	1.35mi
4243 Campbell Dr SE Unit 4243 Salem, OR	3.0	1.0	936	$1,550	$1.66	14d	1	1.39mi
721-759 Hawthorne Ave NE Unit 733 Salem, OR	2.0	1.0	712	$995	$1.40	44d	1	1.43mi
721-759 Hawthorne Ave NE Unit 759 Salem, OR	1.0	1.0	610	$895	$1.47	24d	1	1.43mi
793 Hawthorne Ave NE Unit 803 Salem, OR	2.0	1.0	750	$1,225	$1.63	14d	1	1.45mi
793 Hawthorne Ave NE Unit 837 Salem, OR	2.0	1.0	750	$1,125	$1.50	14d	1	1.45mi
4435 Campbell Dr SE Salem, OR	2.0	1.0	807	$1,445	$1.79	24d	1	1.45mi
3695 D St NE Salem, OR	1.0–2.0	1.0–2.0	1037	$1,650	$1.59	44d	3	1.45mi
1415 Lancaster Dr NE Unit 18 Salem, OR	2.0	1.0	850	$1,200	$1.41	44d	1	1.47mi
1415 Lancaster Dr NE Unit 33 Salem, OR	2.0	1.0	850	$1,225	$1.44	44d	1	1.47mi
1415 Lancaster Dr NE Unit 16 Salem, OR	2.0	1.0	850	$1,250	$1.47	44d	1	1.47mi
3293 Center St NE Salem, OR	2.0	1.0	800	$1,145	$1.43	14d	1	1.50mi

Listing history 22 events

1. 2026-06-18
   days on market $27,000 Active 272 DOM
2. 2026-06-17
   pricedays on market $27,000 Active 271 DOM
3. 2026-06-16
   days on market $29,999 Active 270 DOM
4. 2026-06-15
   days on market $29,999 Active 269 DOM
5. 2026-06-14
   days on market $29,999 Active 267 DOM
6. 2026-06-10
   pricedays on market $29,999 Active 264 DOM
7. 2026-06-09
   days on market $31,999 Active 263 DOM
8. 2026-06-08
   days on market $31,999 Active 262 DOM
9. 2026-06-07
   days on market $31,999 Active 261 DOM
10. 2026-06-03
    days on market $31,999 Active 257 DOM
11. 2026-06-02
    days on market $31,999 Active 256 DOM
12. 2026-06-01
    days on market $31,999 Active 255 DOM
13. 2026-05-31
    days on market $31,999 Active 254 DOM
14. 2026-05-30
    days on market $31,999 Active 253 DOM
15. 2026-05-21
    price $31,999 272-char remark

    Show marketing remark (272 chars)

    Check out this charming & cozy home featuring vaulted ceilings & open floor plan. Well designed kitchen w/dining nook, pantry & coffee bar. Home is on a corner lot in Royal Estates, a 55+ park, providing water, sewer, garbage and access to community clubhouse.

16. 2026-04-08
    price $34,000 272-char remark

    Show marketing remark (272 chars)

    Check out this charming & cozy home featuring vaulted ceilings & open floor plan. Well designed kitchen w/dining nook, pantry & coffee bar. Home is on a corner lot in Royal Estates, a 55+ park, providing water, sewer, garbage and access to community clubhouse.

17. 2026-03-14
    price $36,000 272-char remark

    Show marketing remark (272 chars)

    Check out this charming & cozy home featuring vaulted ceilings & open floor plan. Well designed kitchen w/dining nook, pantry & coffee bar. Home is on a corner lot in Royal Estates, a 55+ park, providing water, sewer, garbage and access to community clubhouse.

18. 2026-02-21
    price $38,000 272-char remark

    Show marketing remark (272 chars)

    Check out this charming & cozy home featuring vaulted ceilings & open floor plan. Well designed kitchen w/dining nook, pantry & coffee bar. Home is on a corner lot in Royal Estates, a 55+ park, providing water, sewer, garbage and access to community clubhouse.

19. 2025-12-07
    price $40,000 272-char remark

    Show marketing remark (272 chars)

    Check out this charming & cozy home featuring vaulted ceilings & open floor plan. Well designed kitchen w/dining nook, pantry & coffee bar. Home is on a corner lot in Royal Estates, a 55+ park, providing water, sewer, garbage and access to community clubhouse.

20. 2025-10-23
    price $44,000 272-char remark

    Show marketing remark (272 chars)

    Check out this charming & cozy home featuring vaulted ceilings & open floor plan. Well designed kitchen w/dining nook, pantry & coffee bar. Home is on a corner lot in Royal Estates, a 55+ park, providing water, sewer, garbage and access to community clubhouse.

21. 2025-09-19
    listed $45,000 Active 272-char remark

    Show marketing remark (272 chars)

    Check out this charming & cozy home featuring vaulted ceilings & open floor plan. Well designed kitchen w/dining nook, pantry & coffee bar. Home is on a corner lot in Royal Estates, a 55+ park, providing water, sewer, garbage and access to community clubhouse.

22. 1993-01-01
    soldstatus $16,744

ⓘ 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: $412 · $34/mo
• Projected year-2 tax: $412 · $34/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 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 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: $17,157
• − Mortgage interest: −$1,512
• − Property taxes: −$412
• − Insurance: −$135
• − Repairs & maintenance: −$1,373
• − Management: −$1,373
• − Depreciation: −$785
• Taxable income: $11,567
• Est. tax owed @ 24.0%: −$2,776
• After-tax cash flow: $8,532/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

+91.1% since first listed

8 events — show timeline

• 2026-05-21 Price Changed $31,999 WVMLS
• 2026-04-08 Price Changed $34,000 WVMLS
• 2026-03-14 Price Changed $36,000 WVMLS
• 2026-02-21 Price Changed $38,000 WVMLS
• 2025-12-07 Price Changed $40,000 WVMLS
• 2025-10-23 Price Changed $44,000 WVMLS
• 2025-09-19 Listed $45,000 WVMLS
• 1993-01-01 Sold (Public Records) $16,744 Public Records

Property tax history

+3.8%/yr

Latest (2025): $412 · +2.9% YoY. Source: county tax records.