8434 SE Heritage Ct · Oatfield, OR 97015

$149,900

4 bd · 2.0 ba · 1,782 sqft · Manufactured · 119 Days on market

Built 1989 Good condition $84/sqft · 9% above area Est $137k · 9% over ↓ 7% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• ARV discount +3.3/15.0
• Schools +3.2/10.0
• Rent growth +3.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this well maintained 4 bedroom, 2 bath home tucked away on a quiet cul-de-sac in the heart of Clackamas. Offering 1,782 square feet of comfortable living space, this home provides a functional layout ideal for everyday living, entertaining, or working from home. Generously sized bedrooms, inviting living areas, and thoughtful flow throughout create a warm and welcoming atmosphere. Conveniently located near shopping, dining, schools, and commuter routes, this property combines neighborhood charm with everyday accessibility. A wonderful opportunity to make this home your own in a desirable SE Clackamas location. This home has been thoughtfully updated with major improvements, including a new roof and new windows installed in 2023. Plumbing upgrades were completed in 2023 along with new toilets and an updated bathroom shower. Electrical improvements include upgraded breakers and a new whole-home surge protector installed in 2025, along with a new water heater added in 2025. These updates provide peace of mind and enhanced comfort for years to come. Could be a great layout for multi-generational living! Check it out today.

Key facts

• New toilets
• Plumbing upgrades
• Cul-de-sac

Tags

• CUL-DE-SAC
• UPDATED BATHROOM SHOWER
• NEW ROOF
• NEW WINDOWS
• PLUMBING UPGRADES
• NEW TOILETS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $150k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Recommended offer: $136k (9.0% below list) — sets the bar for market timing.
• Cap rate 17.7% vs local median 2.6% in Oatfield — 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 81/100 on livability (#49 in OR, #1,363 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: amenities D, cost of living F.
• North Clackamas SD 12 (suburban): math 29% / reading 43% proficiency, ranked #22 of 58 in OR (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.5%/yr); 120 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 946 units permitted in Clackamas County in 2024 (188 in 5+ unit buildings).
• This rent runs 43% of the median local income ($87k/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 $4k of value loss. Plan a longer hold.
• Clackamas County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.5% rent growth), your $42k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.

Recommended offer $136,409 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% 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. 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.
5. 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.
6. 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: 2.08% ✓
• Cap rate: 17.69%
• Cash-on-cash: 40.72%
• DSCR: 2.81
• GRM: 4.0

CMA / ARV

• ARV (median comp): $136,969
• List price: $149,900
• Delta: 9.44%
• Verdict: FAIR
• Comps: 6 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8434 SE Heritage Ct	0.00mi	4/2.0	1,782 (0%)	0mo	$137,500	$77	100
8385 SE Poppy St	0.21mi	3/2.0 (-1)	1,809 (+2%)	11mo	$144,000	$80	74
8431 SE Heritage Ct	0.02mi	3/2.0 (-1)	1,624 (-9%)	22mo	$187,000	$115	61
7980 SE Posey St	0.23mi	3/2.0 (-1)	1,568 (-12%)	11mo	$144,100	$92	55

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 · 2.48% rent growth · sell at horizon

5-year hold

• IRR: 36.6%
• Equity multiple: 2.55×
• Total profit: $64,849
• Equity at exit: $22,351

10-year hold

• IRR: 43.0%
• Equity multiple: 4.98×
• Total profit: $166,885
• Equity at exit: $12,961

Cash invested: $41,972 (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 97015

• Rents YoY: 2.5%
• Active inventory: 120
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $3,114 medium
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$654
• Net cashflow: $1,424

Break-even live

Break-even rent $1,311

Max offer price $149,900

Occupancy floor 49%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6420 SE Mabel Ave Portland, OR	3.0	2.5	2044	$3,250	$1.59	22d	1	1.00mi
6593 SE Thiessen Rd Portland, OR	4.0	2.0	1791	$3,100	$1.73	2d	1	1.17mi
17112 SE Jade Ct Portland, OR	3.0	2.0	1514	$3,400	$2.25	2d	1	1.24mi

Listing history 3 events

1. 2026-04-21
   price $149,900 1147-char remark

   Show marketing remark (1147 chars)

   Welcome to this well maintained 4 bedroom, 2 bath home tucked away on a quiet cul-de-sac in the heart of Clackamas. Offering 1,782 square feet of comfortable living space, this home provides a functional layout ideal for everyday living, entertaining, or working from home. Generously sized bedrooms, inviting living areas, and thoughtful flow throughout create a warm and welcoming atmosphere. Conveniently located near shopping, dining, schools, and commuter routes, this property combines neighborhood charm with everyday accessibility. A wonderful opportunity to make this home your own in a desirable SE Clackamas location. This home has been thoughtfully updated with major improvements, including a new roof and new windows installed in 2023. Plumbing upgrades were completed in 2023 along with new toilets and an updated bathroom shower. Electrical improvements include upgraded breakers and a new whole-home surge protector installed in 2025, along with a new water heater added in 2025. These updates provide peace of mind and enhanced comfort for years to come. Could be a great layout for multi-generational living! Check it out today.

2. 2026-03-02
   price $155,000 1147-char remark

   Show marketing remark (1147 chars)

   Welcome to this well maintained 4 bedroom, 2 bath home tucked away on a quiet cul-de-sac in the heart of Clackamas. Offering 1,782 square feet of comfortable living space, this home provides a functional layout ideal for everyday living, entertaining, or working from home. Generously sized bedrooms, inviting living areas, and thoughtful flow throughout create a warm and welcoming atmosphere. Conveniently located near shopping, dining, schools, and commuter routes, this property combines neighborhood charm with everyday accessibility. A wonderful opportunity to make this home your own in a desirable SE Clackamas location. This home has been thoughtfully updated with major improvements, including a new roof and new windows installed in 2023. Plumbing upgrades were completed in 2023 along with new toilets and an updated bathroom shower. Electrical improvements include upgraded breakers and a new whole-home surge protector installed in 2025, along with a new water heater added in 2025. These updates provide peace of mind and enhanced comfort for years to come. Could be a great layout for multi-generational living! Check it out today.

3. 2026-01-22
   listed $162,000 Active 1147-char remark

   Show marketing remark (1147 chars)

   Welcome to this well maintained 4 bedroom, 2 bath home tucked away on a quiet cul-de-sac in the heart of Clackamas. Offering 1,782 square feet of comfortable living space, this home provides a functional layout ideal for everyday living, entertaining, or working from home. Generously sized bedrooms, inviting living areas, and thoughtful flow throughout create a warm and welcoming atmosphere. Conveniently located near shopping, dining, schools, and commuter routes, this property combines neighborhood charm with everyday accessibility. A wonderful opportunity to make this home your own in a desirable SE Clackamas location. This home has been thoughtfully updated with major improvements, including a new roof and new windows installed in 2023. Plumbing upgrades were completed in 2023 along with new toilets and an updated bathroom shower. Electrical improvements include upgraded breakers and a new whole-home surge protector installed in 2025, along with a new water heater added in 2025. These updates provide peace of mind and enhanced comfort for years to come. Could be a great layout for multi-generational living! Check it out today.

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 18 unhealthy d/yr today · 20 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,370
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$2,990
• − Management: −$2,990
• − Depreciation: −$4,361
• Taxable income: $15,635
• Est. tax owed @ 24.0%: −$3,753
• After-tax cash flow: $13,339/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 · 6 photos

Good 75/100 Cosmetic rehab

This well-maintained 4-bedroom, 2-bath home offers a functional layout and is located in a desirable neighborhood. While some minor repairs and updates are needed, the home is in good condition and presents a solid investment opportunity.

Repairs flagged

• Minor Kitchen cabinets — Slight wear visible on cabinet fronts.
• Minor Kitchen countertops — Light scratches and scuffs present on countertops.
• Minor Bathroom fixtures — Some minor discoloration on bathroom fixtures.
• Minor Exterior siding — Some discoloration visible on exterior siding.
• Minor Landscaping — Some areas of landscaping could benefit from trimming and mulching for better appearance.

Value-add opportunities

• Both Painting and updating kitchen cabinets — Fresh paint and updated cabinets can significantly enhance the home's curb appeal and interior aesthetics.
• Both Upgrading bathroom fixtures — Modern fixtures can improve functionality and add value to the home.
• Both Landscaping improvements — A well-maintained and aesthetically pleasing landscape can boost both resale and rental value.
• Both HVAC system maintenance — A clean and efficient HVAC system can improve comfort and reduce energy costs, benefiting both resale and rental value.
• Both Floor refinishing — Refinished hardwood floors can enhance the home's overall appearance and add value to the property.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Slight wear visible on cabinet fronts.	Minor	$500–3,000
Kitchen countertops · Light scratches and scuffs present on countertops.	Minor	$500–3,000
Bathroom fixtures · Some minor discoloration on bathroom fixtures.	Minor	$500–3,000
Exterior siding · Some discoloration visible on exterior siding.	Minor	$500–3,000
Landscaping · Some areas of landscaping could benefit from trimming and mulching for better appearance.	Minor	$500–3,000
Total estimated repair cost · 5 items		$2,500–15,000

Value-add ROI direction

• Both Painting and updating kitchen cabinets — Fresh paint and updated cabinets can significantly enhance the home's curb appeal and interior aesthetics. ↑
• Both Upgrading bathroom fixtures — Modern fixtures can improve functionality and add value to the home. ↑
• Both Landscaping improvements — A well-maintained and aesthetically pleasing landscape can boost both resale and rental value. ↑
• Both HVAC system maintenance — A clean and efficient HVAC system can improve comfort and reduce energy costs, benefiting both resale and rental value. ↑
• Both Floor refinishing — Refinished hardwood floors can enhance the home's overall appearance and add value to the property. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: North Clackamas SD 12
• NCES district ID: 4108830
• Math proficiency: 29% ▼ -14.00%
• Reading proficiency: 43% ▼ -13.00%
• Median HH income: $60,217
• Composite: 32.1/100
• National rank: #5807
• State rank: #22 of 58 in OR

Livability — Oatfield

• Score: 81/100
• State rank: #49
• US rank: #1363

Category grades

Amenities D Commute A+ Cost of living F Crime A- Employment A+ Housing A+ Health & safety A+ User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oatfield, OR
• County: Clackamas County · 361,406 people
• City population: 31,160
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 24,433
• Household income: $87,333
• Rent vs Own: 36.0% rent · 64.0% own
• Severe rent burden: 1166.0

Population outlook (Clackamas County) Hauer SSP2

• Today (2025): 458,456 people
• By 2030: 485,185 · +5.8%
• By 2040: 532,932 · +16.2%
• By 2050: 574,445 · +25.3%
• By 2075: 665,497 · +45.2%
• By 2100: 697,488 · +52.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 15% Two or more races 12% Asian 11% Black 2%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Italian 4% Scotch-Irish 4% Lithuanian 3%
• Foreign-born: 15% · Canada, China, Vietnam
• Languages at home: 74% English-only · Spanish 11% Chinese 5% Russian/Polish/Slavic 3%

Political lean MEDSL · Clackamas

• 2024 margin: Lean D (+9.7) · D 53.4% · R 43.6% · Other 3.0%
• 2008→2024 swing: -0.6pp no change · 2008: 10.4pp · 2024: 9.7pp
• All cycles: 2024: D+9.7 2020: D+11.1 2016: D+6.1 2012: D+3.5 2008: D+10.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -170.50%
• Current HPI: 295.7295
• Rent YoY: ▲ 2.48%
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• 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

-7.5% since first listed

3 events — show timeline

• 2026-04-21 Price Changed $149,900 RMLS
• 2026-03-02 Price Changed $155,000 RMLS
• 2026-01-22 Listed $162,000 RMLS