Real Estate Investing in Detroit, Oregon (97342)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 97342 (Detroit, OR)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 87.5% of homes vacant — above national norms.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Detroit, OR (97342)?
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Market Analysis: 97342 Detroit
This part of Marion County is not an easy win. The 97342 ZIP shows softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Looking more closely, the numbers look inviting — $467K purchase price, 0.0% nominal cap — the work to hit that pro forma in 97342 is substantial and deserves full respect.
Stepping back, 97342 offers a low basis, the region around Detroit has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Resident income in 97342 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Distressed ZIPs reward experience. robust returns are possible in 97342, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Detroit:
Market Trends
Home Value History (with trend line)
📊 How Does 97342 Compare?
| Metric | 97342 | Detroit | Salem, OR | Oregon |
|---|---|---|---|---|
| Home Value | $467,170 | $467,170 | N/A | $493,884 |
| 5-Year CAGR | 3.4% | 3.4% | N/A | 4.9% |
| Avg Rent | $1,728 | $1,728 | N/A | - |
| Cap Rate | 2.9% | 2.9% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 97342 (Detroit, OR). Anonymous, moderated, never written by AI.
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Property managers serving Marion County
Manage rentals here? List your business →Evolve Workforce & Multifamily Housing Services. summary from their website
Dalke Property Management, Llc. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $467,170 |
| Monthly Rent | $1,728 |
| Price-to-Rent | 22.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.4% |
| Cap Rate | 2.9% |
| 5-Year IRR | 6.2% |
📈 Home Appreciation
| 1-Year | +10.2% ▲ |
| 3-Year CAGR | +4.7% ▲ |
| 5-Year CAGR | +3.4% ▲ |
| 10-Year CAGR | +6.6% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.9%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 97342
Population: 144
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
Frequently Asked Questions
How expensive is real estate in Detroit, OR?
Homes in Detroit, OR typically sell near $467K. Prices have moved at a 0.0% 5-year CAGR, which measured long-term demand.
What kind of market is Detroit, OR for investors?
Detroit, OR rates 3.0/5 for investability. With median values at $467K and rents near $1,728/mo, the market offers reasonable fundamentals for rental investors.
What is the typical renter like in Detroit, OR?
The renter base in Detroit, OR is reasonable for the $1,728/mo price point. Screening well and pricing to market typically yields even-keeled tenants.
Where do rents currently stand in Detroit, OR?
Expect rents around $1,728/mo per month in Detroit, OR. With home values at $467K, the yield math works out to reasonable levels for rental investors.
How do landlord-tenant laws work in Detroit, OR?
The landlord environment in Detroit, OR is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
You know 97342 now. You don’t know where it ranks.
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How 97342 ranks in Salem, OR
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