3578 Turner Rd SE · Salem, OR 97302

$70,000

2 bd · 2.0 ba · 1,056 sqft · Manufactured public records · 41 Days on market

Built 1977 $66/sqft · 6% above area Est $66k · 6% over

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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 +5.0/15.0
• Livability +4.0/5.0
• Schools +3.7/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in Lakeside Village Manufactured Home Park. All age park. This 2 bd, 2 ba home won't last long! Low maintenance yard. Newer flooring and carpet. Storage shed 10x10.

Key facts

• Exterior paint
• New appliances
• Updated roof

Tags

• UPDATED ROOF
• EXTERIOR PAINT
• DOUBLE-PANE VINYL WINDOWS
• NEW APPLIANCES
• SHOWER IN MAIN BATHROOM
• WAINSCOTING IN LR

Property features AI

Finance

• Other: All appliances included; No home warranty; No assessments/liens reported
• HOA & community: Park rent includes swimming pool and other amenities (refer to remarks); Located in Lakeside Village (not an adult park)

Exterior

• Parking: 2-car garage spaces; Carport
• Utilities: City water; City sewer; Electric power
• Home design: Double-wide manufactured home; Zero lot line; White/tan exterior color; Carport with carport door
• Construction: Built in 1977; Aluminum siding; Composition roof; Pier foundation; Mobile home size 24'x44', make Kings HWY, model Guerdon
• Exterior features: Partial fenced yard; Low-maintenance landscaped yard; 10'x10' shed with loft; Park amenities include clubhouse and swimming pool

Interior

• Kitchen: Dishwasher; Electric range (included)
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Laminate
• Bathrooms: 2 bathrooms
• Heating & cooling: Electric forced-air heating
• Interior features: Formal dining area; High-speed internet available; No garbage disposal
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $70k.

Deal economics

• At list price, monthly cash flow is $537 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.
• Cap rate 22.8% 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: Bush Elementary School (254 students, 72% FRL); South Salem High School (2,256 students, 96% FRL) — zoned schools average 84% FRL vs 53% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.8%/yr); 242 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $484 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 + 1.8% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $31k; list at $70k implies a 126% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $67,900 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 2.53% ✓
• Cap rate: 22.80%
• Cash-on-cash: 58.97%
• DSCR: 3.62
• GRM: 3.3

CMA / ARV

• ARV (median comp): $66,257
• List price: $70,000
• Delta: 5.65%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3364 Turner Rd SE	0.08mi	2/2.0	1,008 (-4%)	4mo	$50,000	$50	86
3554 Turner Rd	0.04mi	3/2.0 (+1)	1,188 (+12%)	1mo	$130,000	$109	72
3100 Turner Rd SE #116	0.30mi	2/2.0	1,080 (+2%)	13mo	$85,000	$79	71
3100 Turner Rd SE #414	0.30mi	2/1.0	990 (-6%)	1mo	$107,500	$109	71
3100 Turner Rd SE #523	0.30mi	2/2.0	1,152 (+9%)	1mo	$132,000	$115	70
3100 Turner Rd SE #176	0.30mi	2/2.0	1,080 (+2%)	15mo	$128,000	$119	70
3390 Turner Rd	0.16mi	2/1.0	938 (-11%)	4mo	$49,000	$52	66
3100 Turner Rd SE #626	0.30mi	2/1.5	960 (-9%)	7mo	$105,000	$109	63
3100 Turner Rd SE #322	0.30mi	2/1.0	938 (-11%)	3mo	$144,900	$154	61
2200 SE Lancaster Dr	0.74mi	2/2.0	1,056 (0%)	13mo	$135,000	$128	55
2200 SE Lancaster Dr Unit 13D	0.74mi	2/2.0	1,056 (0%)	13mo	$135,000	$128	55
2200 Lancaster Dr SE Unit 1D	0.74mi	2/2.0	960 (-9%)	2mo	$20,000	$21	49

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 · 1.84% rent growth · sell at horizon

5-year hold

• IRR: 26.4%
• Equity multiple: 2.07×
• Total profit: $21,046
• Equity at exit: $10,437

10-year hold

• IRR: 33.2%
• Equity multiple: 3.82×
• Total profit: $55,190
• Equity at exit: $6,052

Cash invested: $19,600 (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 97302

• Rents YoY: 1.8%
• Active inventory: 242
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,772 high
• Mortgage (P&I): −$367
• Tax from tax record: −$41 /mo · $491/yr
• Insurance: −$29
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $537

Break-even live

Break-even rent $1,093

Max offer price $70,000

Occupancy floor 65%

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2728 Lancaster Dr SE Unit 2728-14 Salem, OR	2.0	1.5	1000	$1,195	$1.20	43d	1	0.80mi
4243 Campbell Dr SE Unit 4243 Salem, OR	3.0	1.0	936	$1,550	$1.66	14d	1	1.05mi
2423 Strong Heights Ln SE Salem, OR	2.0	2.0	828	$1,750	$2.11	23d	1	1.12mi
4435 Campbell Dr SE Salem, OR	2.0	1.0	807	$1,445	$1.79	23d	1	1.15mi
2315 Strong Heights Ln SE Salem, OR	2.0–3.0	2.0–2.5	1087	$1,850	$1.70	43d	1	1.17mi
1447 Connecticut St SE Salem, OR	3.0	2.0	1258	$2,675	$2.13	43d	1	1.24mi
4665 Campbell Dr SE Salem, OR	1.0–3.0	1.0–2.0	923	$1,699	$1.84	14d	1	1.24mi
3955 Outward Rd SE Salem, OR	1.0–3.0	1.0–2.0	970	$1,824	$1.88	14d	20	1.32mi
2087 Audubon Ave SE Salem, OR	3.0	2.5	1325	$3,725	$2.81	23d	1	1.46mi

Listing history 19 events

1. 2026-06-18
   days on market $70,000 Active 41 DOM
2. 2026-06-17
   days on market $70,000 Active 40 DOM
3. 2026-06-16
   days on market $70,000 Active 39 DOM
4. 2026-06-15
   days on market $70,000 Active 38 DOM
5. 2026-06-14
   days on market $70,000 Active 36 DOM
6. 2026-06-10
   days on market $70,000 Active 33 DOM
7. 2026-06-09
   days on market $70,000 Active 32 DOM
8. 2026-06-08
   days on market $70,000 Active 31 DOM
9. 2026-06-07
   days on market $70,000 Active 30 DOM
10. 2026-06-03
    days on market $70,000 Active 26 DOM
11. 2026-06-02
    days on market $70,000 Active 25 DOM
12. 2026-06-01
    days on market $70,000 Active 24 DOM
13. 2026-05-31
    days on market $70,000 Active 23 DOM
14. 2026-05-30
    days on market $70,000 Active 22 DOM
15. 2026-05-08
    listed $70,000 Active 444-char remark
16. 2019-06-21
    soldstatus $31,000 Sold 172-char remark

    Show marketing remark (172 chars)

    Located in Lakeside Village Manufactured Home Park. All age park. This 2 bd, 2 ba home won't last long! Low maintenance yard. Newer flooring and carpet. Storage shed 10x10.

17. 2019-06-11
    historical Active under Contract 172-char remark

    Show marketing remark (172 chars)

    Located in Lakeside Village Manufactured Home Park. All age park. This 2 bd, 2 ba home won't last long! Low maintenance yard. Newer flooring and carpet. Storage shed 10x10.

18. 2019-05-24
    listed $30,000 Active 172-char remark

    Show marketing remark (172 chars)

    Located in Lakeside Village Manufactured Home Park. All age park. This 2 bd, 2 ba home won't last long! Low maintenance yard. Newer flooring and carpet. Storage shed 10x10.

19. 1994-08-15
    soldstatus $20,000

ⓘ 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: $491 · $41/mo
• Projected year-2 tax: $679 · $57/mo
• Expected delta: +$188/yr (+$16/mo · 38.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥92°F today · 15 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: $21,270
• − Mortgage interest: −$3,921
• − Property taxes: −$491
• − Insurance: −$5,468
• − Repairs & maintenance: −$1,702
• − Management: −$1,702
• − Depreciation: −$2,036
• Taxable income: $5,950
• Est. tax owed @ 24.0%: −$1,428
• After-tax cash flow: $5,011/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): 40,799
• Household income: $85,833
• Rent vs Own: 38.5% rent · 61.5% own
• Severe rent burden: 1754.0

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: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 12% Two or more races 10% Black 2% Pacific Islander 1% Asian 1%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Italian 4% Slovak 4% Portuguese 3%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 90% English-only · Spanish 6% Other Asian/Pacific 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: ▼ -382.78%
• Current HPI: 296.7837
• Rent YoY: ▲ 1.84%
• 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

+250.0% since first listed

5 events — show timeline

• 2026-05-08 Listed $70,000 WVMLS
• 2019-06-21 Sold (MLS) $31,000 WVMLS
• 2019-06-11 Contingent — WVMLS
• 2019-05-24 Listed $30,000 WVMLS
• 1994-08-15 Sold (Public Records) $20,000 Public Records

Property tax history

+3.6%/yr

Latest (2025): $491 · +7.6% YoY. Source: county tax records.