613 Royalty Cir NE · Salem, OR 97301

$170,000

3 bd · 2.0 ba · 1,350 sqft · Manufactured public records · 77 Days on market

Built 1997 5,445 sqft lot $126/sqft · 62% above area

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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 +26.8/30.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• 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

Wonderfully appointed 3-bedroom, 2-bath Palm Harbor home with detached 2-car garage in Center View Estates, a 55+ community. Large corner lot with vaulted ceilings and loads of storage. So many important updates! - Newer roof, heat pump, high-tech water heater, range and fridge. Master bedrrom off living area with en suite bathroom, large kitchen, breakfast nook, as well as dining area. Fresh bark dust for easy care and fresh coat of exterior paint. W/D included. Catio is negotiable.

Key facts

• Heat pump
• Newer roof
• Water heater

Tags

• NEW COUNTERTOPS
• NEWER ROOF
• HEAT PUMP
• WATER HEATER
• LARGE KITCHEN DINING AREA
• SEPARATE 2 CAR GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $170k.

Deal economics

• At list price, monthly cash flow is $468 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $160k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.6% 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: 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: Rents soft (-0.7%/yr); 276 active listings in the ZIP; 32 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).
• This rent runs 40% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y 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 $75k; list at $170k implies a 127% gain — meaningful room to come down on a strong offer.

Recommended offer $159,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% 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 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?
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: 1.18% ✓
• Cap rate: 9.59%
• Cash-on-cash: 11.79%
• DSCR: 1.52
• GRM: 7.1

CMA / ARV

• ARV (median comp): $107,278
• List price: $170,000
• Delta: 58.47%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
663 Royalty Cir NE	0.06mi	2/2.0 (-1)	1,404 (+4%)	4mo	$164,900	$117	83
4730 Auburn Rd NE #43	0.41mi	3/2.0	1,336 (-1%)	1mo	$134,900	$101	79
857 Hoffman Rd	0.32mi	3/2.0	1,296 (-4%)	6mo	$110,000	$85	73
857 Hoffman Rd NE #11	0.32mi	3/2.0	1,296 (-4%)	6mo	$110,000	$85	73
1500 NE Gabriela Ct #16	0.58mi	3/2.0	1,350 (0%)	1mo	$98,000	$73	72
283 Broadmore Ave NE	0.55mi	3/2.0	1,342 (-1%)	2mo	$60,000	$45	72
4730 Auburn Rd #158	0.41mi	3/2.0	1,288 (-5%)	3mo	$61,500	$48	71
1500 Gabriela Ct #20	0.58mi	3/2.0	1,323 (-2%)	5mo	$132,000	$100	65
4730 Auburn Rd NE #20	0.41mi	2/2.0 (-1)	1,440 (+7%)	4mo	$85,000	$59	62
4998 Wind Stone Way NE #32	0.44mi	3/2.0	1,512 (+12%)	5mo	$134,100	$89	55
997 Wind Meadows Way #64	0.39mi	4/2.0 (+1)	1,512 (+12%)	2mo	$134,999	$89	55
925 New Haven Dr NE	0.73mi	3/2.0	1,512 (+12%)	3mo	$450,000	$298	43

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: -2.1%
• Equity multiple: 0.92×
• Total profit: $-3,634
• Equity at exit: $25,348

10-year hold

• IRR: 4.1%
• Equity multiple: 1.26×
• Total profit: $12,514
• Equity at exit: $14,698

Cash invested: $47,600 (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: 276
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,998 high
• Mortgage (P&I): −$891
• Tax from tax record: −$148 /mo · $1,781/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $468

Break-even live

Break-even rent $1,406

Max offer price $170,000

Occupancy floor 72%

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
434 Greencrest St NE Salem, OR	3.0	2.0	1637	$3,900	$2.38	23d	1	0.33mi
412 Lost Lake St NE Salem, OR	4.0	3.0	1662	$2,495	$1.50	23d	1	0.37mi
4485 Monroe Ave NE Salem, OR	4.0	2.0	1200	$2,195	$1.83	44d	1	0.51mi
4833 Thyme Ave NE Salem, OR	3.0	2.5	1681	$2,545	$1.51	14d	1	0.59mi
102 Greencrest St NE Salem, OR	3.0	1.0–2.0	914	$2,205	$2.41	14d	25	0.71mi
435 Fountain Valley Way NE Salem, OR	1.0–2.0	1.0–2.0	939	$1,559	$1.66	21d	5	0.78mi
143 Connecticut Ave SE Unit 145 Salem, OR	3.0	1.0	1207	$1,595	$1.32	14d	1	0.81mi
124 Stafford Ln NE Unit 124-203 Salem, OR	3.0	2.0	1052	$1,595	$1.52	44d	1	0.85mi
4433 Mahrt Ave SE Unit 4437-206 Salem, OR	2.0	2.0	932	$1,525	$1.64	44d	1	0.93mi
4433 Mahrt Ave SE Unit 4435-201 Salem, OR	2.0	2.0	888	$1,525	$1.72	23d	1	0.93mi
4836 Tanglewood Ct SE Salem, OR	3.0	2.0	1316	$2,150	$1.63	23d	1	0.97mi
430 Brittany Way NE Unit 369-421 Salem, OR	2.0	2.0	920	$1,400	$1.52	44d	1	1.00mi
4098 Market St NE Unit MT21 Salem, OR	2.0	1.0	900	$1,275	$1.42	23d	1	1.02mi
1973 45th Ave NE Salem, OR	2.0	1.0–2.0	1043	$1,360	$1.30	14d	2	1.03mi
295 Colt Ln NE Salem, OR	3.0	2.0	1052	$1,575	$1.50	14d	1	1.09mi
4200 Sunnyview Rd NE Salem, OR	2.0	1.0–2.0	880	$1,445	$1.64	23d	1	1.11mi
3695 D St NE Salem, OR	1.0–2.0	1.0–2.0	1037	$1,650	$1.59	44d	3	1.12mi
3750-3762 Amber St NE Unit 3762-107 Salem, OR	2.0	2.5	1150	$1,595	$1.39	44d	1	1.12mi
3750-3762 Amber St NE Unit 3758-107 Salem, OR	2.0	2.5	1150	$1,595	$1.39	23d	1	1.12mi
178 Lancaster Dr SE Salem, OR	2.0	2.0	952	$1,495	$1.57	14d	1	1.16mi
4154 Sunnyview Rd NE Salem, OR	1.0–2.0	1.0	806	$1,375	$1.71	14d	6	1.18mi
4768 El Cedro Loop NE Salem, OR	3.0	2.0	1344	$1,895	$1.41	44d	1	1.32mi
990 Charter Pl NE Salem, OR	3.0	2.5	1248	$1,895	$1.52	44d	1	1.32mi
3910-3930 Sunnyview Rd NE Salem, OR	3.0	2.5	1300	$1,845	$1.42	14d	6	1.33mi
4807 Chinook Ct SE Salem, OR	3.0	1.5	1104	$2,200	$1.99	14d	1	1.36mi
3301 D St NE Salem, OR	2.0	1.0	850	$1,225	$1.44	23d	4	1.36mi
3897 Meadowlawn Loop SE Salem, OR	1.0–3.0	1.0–2.0	962	$1,958	$2.03	14d	26	1.44mi
3828 Bayonne Dr SE Salem, OR	2.0	1.0	980	$1,299	$1.33	14d	1	1.45mi
3822 Bayonne Dr SE Salem, OR	2.0	1.0	980	$1,299	$1.33	23d	1	1.46mi
4776 Buffalo Dr SE Salem, OR	3.0	1.0	1369	$2,150	$1.57	44d	1	1.47mi
4359 Rodeo Dr NE Salem, OR	3.0	2.0	1170	$2,245	$1.92	21d	1	1.48mi
1003-1085 Savage Rd NE Unit 1053 Salem, OR	2.0	1.0	950	$1,095	$1.15	23d	1	1.50mi

Listing history 24 events

1. 2026-06-18
   days on market $170,000 Active 77 DOM
2. 2026-06-17
   days on market $170,000 Active 76 DOM
3. 2026-06-16
   days on market $170,000 Active 75 DOM
4. 2026-06-15
   days on market $170,000 Active 74 DOM
5. 2026-06-14
   days on market $170,000 Active 72 DOM
6. 2026-06-10
   days on market $170,000 Active 69 DOM
7. 2026-06-09
   days on market $170,000 Active 68 DOM
8. 2026-06-08
   days on market $170,000 Active 67 DOM
9. 2026-06-07
   days on market $170,000 Active 66 DOM
10. 2026-06-03
    days on market $170,000 Active 62 DOM
11. 2026-06-02
    days on market $170,000 Active 61 DOM
12. 2026-06-01
    days on market $170,000 Active 60 DOM
13. 2026-05-31
    days on market $170,000 Active 59 DOM
14. 2026-05-30
    days on market $170,000 Active 58 DOM
15. 2026-04-01
    listed $170,000 Active 492-char remark

    Show marketing remark (492 chars)

    Wonderfully appointed 3-bedroom, 2-bath Palm Harbor home with detached 2-car garage in Center View Estates, a 55+ community. Large corner lot with vaulted ceilings and loads of storage. So many important updates! - Newer roof, heat pump, high-tech water heater, range and fridge. Master bedrrom off living area with en suite bathroom, large kitchen, breakfast nook, as well as dining area. Fresh bark dust for easy care and fresh coat of exterior paint. W/D included. Catio is negotiable.

16. 2017-09-08
    soldstatus $75,000 Sold 217-char remark

    Show marketing remark (217 chars)

    Spacious corner lot home with open floor plan. Well maintained 1997 Palm Harbor manufacture home in quiet 55+ community. Rent space only $400/month. Many cupboards, built ins, in kitchen. Great price! Great community!

17. 2017-08-30
    status Pending 217-char remark

    Show marketing remark (217 chars)

    Spacious corner lot home with open floor plan. Well maintained 1997 Palm Harbor manufacture home in quiet 55+ community. Rent space only $400/month. Many cupboards, built ins, in kitchen. Great price! Great community!

18. 2017-08-17
    status Active 217-char remark

    Show marketing remark (217 chars)

    Spacious corner lot home with open floor plan. Well maintained 1997 Palm Harbor manufacture home in quiet 55+ community. Rent space only $400/month. Many cupboards, built ins, in kitchen. Great price! Great community!

19. 2017-08-16
    status Pending 217-char remark

    Show marketing remark (217 chars)

    Spacious corner lot home with open floor plan. Well maintained 1997 Palm Harbor manufacture home in quiet 55+ community. Rent space only $400/month. Many cupboards, built ins, in kitchen. Great price! Great community!

20. 2017-08-12
    price $79,900 217-char remark

    Show marketing remark (217 chars)

    Spacious corner lot home with open floor plan. Well maintained 1997 Palm Harbor manufacture home in quiet 55+ community. Rent space only $400/month. Many cupboards, built ins, in kitchen. Great price! Great community!

21. 2017-08-04
    price $88,900 217-char remark

    Show marketing remark (217 chars)

    Spacious corner lot home with open floor plan. Well maintained 1997 Palm Harbor manufacture home in quiet 55+ community. Rent space only $400/month. Many cupboards, built ins, in kitchen. Great price! Great community!

22. 2017-08-04
    status Active 217-char remark

    Show marketing remark (217 chars)

    Spacious corner lot home with open floor plan. Well maintained 1997 Palm Harbor manufacture home in quiet 55+ community. Rent space only $400/month. Many cupboards, built ins, in kitchen. Great price! Great community!

23. 2017-07-10
    status Pending 217-char remark

    Show marketing remark (217 chars)

    Spacious corner lot home with open floor plan. Well maintained 1997 Palm Harbor manufacture home in quiet 55+ community. Rent space only $400/month. Many cupboards, built ins, in kitchen. Great price! Great community!

24. 2017-07-05
    listed Active under Contract 217-char remark

    Show marketing remark (217 chars)

    Spacious corner lot home with open floor plan. Well maintained 1997 Palm Harbor manufacture home in quiet 55+ community. Rent space only $400/month. Many cupboards, built ins, in kitchen. Great price! Great community!

ⓘ 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: $1,781 · $148/mo
• Projected year-2 tax: $1,781 · $148/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 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: $23,974
• − Mortgage interest: −$9,523
• − Property taxes: −$1,781
• − Insurance: −$850
• − Repairs & maintenance: −$1,918
• − Management: −$1,918
• − Depreciation: −$4,945
• Taxable income: $3,039
• Est. tax owed @ 24.0%: −$729
• After-tax cash flow: $4,881/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

+91.2% since first listed

10 events — show timeline

• 2026-04-01 Listed $170,000 WVMLS
• 2017-09-08 Sold (MLS) $75,000 WVMLS
• 2017-08-30 Pending — WVMLS
• 2017-08-17 Relisted — WVMLS
• 2017-08-16 Pending — WVMLS
• 2017-08-12 Price Changed $79,900 WVMLS
• 2017-08-04 Price Changed $88,900 WVMLS
• 2017-08-04 Relisted — WVMLS
• 2017-07-10 Pending — WVMLS
• 2017-07-05 Listed — WVMLS

Property tax history

+2.4%/yr

Latest (2025): $1,781 · +7.7% YoY. Source: county tax records.