13900 SE Highway 212 #19 · Happy Valley, OR 97015

$79,999

2 bd · 2.0 ba · 1,000 sqft · Other · 36 Days on market

Built 1971 $80/sqft · 18% below area Est $98k · 18% under ↓ 47% since listing

---

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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Schools +3.2/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Peaceful Clackamas living! This updated 2 bed, 2 bath manufactured home offers 1,000 sq ft of comfort just minutes from shopping, restaurants, and I-205. Enjoy a spacious layout, refreshed interiors, and one of the largest yards you’ll find in any park—perfect for entertaining, gardening, or relaxing. Affordable, convenient, and truly unique, this home delivers standout value with unbeatable outdoor space. Schedule your tour today!

Key facts

• Largest yards
• Outdoor space
• 2 garage spots

Tags

• UPDATED MANUFACTURED HOME
• LARGEST YARDS
• OUTDOOR SPACE

Property features AI

Finance

• Other: Located in Riverbend park (not an adult park); Manufacture make: Hill; Serial number: H045613E; Directions: East on Hwy 212; right into park at 142nd Ave; home on left.

Exterior

• Parking: Carport; 2-car garage spaces
• Utilities: City water; City sewer; Electric water heater
• Home design: Double wide manufactured home; White exterior color; T111 siding style
• Construction: Built in 1971; Wood siding; Pier foundation; Composition/shingle roof
• Exterior features: Fenced yard; Covered deck; Shed/outbuilding; Irregular lot

Interior

• Kitchen: Electric range; Dishwasher
• Bedrooms: Master bedroom on the main level; Second bedroom on the main level
• Flooring: Luxury vinyl plank flooring
• Bathrooms: Two bathrooms on the main level
• Heating & cooling: Forced air heating
• Interior features: Wood-burning fireplace; High-speed communication available
• Laundry & utility: Utility room on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $80k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.
• Cap rate 21.6% vs local median 2.5% in Happy Valley — 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 76/100 on livability (#76 in OR, #3,386 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, 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; 8 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; 946 units permitted in Clackamas County in 2024 (188 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k 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 $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.

Recommended offer $77,599 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 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 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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.
6. 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.
7. 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: 2.49% ✓
• Cap rate: 21.64%
• Cash-on-cash: 54.80%
• DSCR: 3.44
• GRM: 3.3

CMA / ARV

• ARV (median comp): $98,049
• List price: $79,999
• Delta: -18.41%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.48% rent growth · sell at horizon

5-year hold

• IRR: 52.4%
• Equity multiple: 3.28×
• Total profit: $51,177
• Equity at exit: $11,928

10-year hold

• IRR: 57.5%
• Equity multiple: 6.55×
• Total profit: $124,359
• Equity at exit: $6,917

Cash invested: $22,400 (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: 3.3×

Monthly cashflow live

• Estimated rent: $1,995 high
• Mortgage (P&I): −$420
• Tax est. 1.5%: −$100 /mo · $1,200/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $1,023

Break-even live

Break-even rent $700

Max offer price $79,999

Occupancy floor 44%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13300 SE Hubbard Rd Clackamas, OR	3.0	1.0–2.0	818	$1,987	$2.43	2d	6	0.60mi
14553 SE Lone Pine Dr Unit 14553 Clackamas, OR	2.0	1.0	800	$1,695	$2.12	44d	1	0.96mi
12301 SE Hubbard Rd Clackamas, OR	2.0–3.0	1.0–2.0	936	$1,523	$1.63	10d	4	1.00mi
13898 SE Rogers Ln Clackamas, OR	3.0	2.0	1488	$2,599	$1.75	44d	1	1.07mi
14095 SE Summerfield Loop Happy Valley, OR	3.0	2.5	1453	$2,695	$1.85	44d	1	1.28mi
14712 SE Misty Dr Happy Valley, OR	2.0	1.0–2.0	955	$1,988	$2.08	2d	13	1.31mi
14194 SE Summerfield Loop Happy Valley, OR	3.0	2.5	1125	$2,250	$2.00	24d	1	1.41mi
14154 SE Summerfield Loop Unit 14194 Happy Valley, OR	3.0	2.5	1125	$2,250	$2.00	24d	1	1.41mi

Listing history 15 events

1. 2026-06-18
   days on market $79,999 Active 36 DOM
2. 2026-06-17
   days on market $79,999 Active 35 DOM
3. 2026-06-16
   days on market $79,999 Active 34 DOM
4. 2026-06-15
   days on market $79,999 Active 33 DOM
5. 2026-06-13
   days on market $79,999 Active 31 DOM
6. 2026-06-09
   days on market $79,999 Active 27 DOM
7. 2026-06-08
   days on market $79,999 Active 26 DOM
8. 2026-06-07
   days on market $79,999 Active 25 DOM
9. 2026-06-05
   days on market $79,999 Active 22 DOM
10. 2026-06-03
    days on market $79,999 Active 21 DOM
11. 2026-06-02
    days on market $79,999 Active 20 DOM
12. 2026-06-01
    days on market $79,999 Active 19 DOM
13. 2026-05-31
    days on market $79,999 Active 18 DOM
14. 2025-11-18
    listed $79,999 Active 447-char remark
15. 2023-10-02
    price $150,000

ⓘ 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 · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 14 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,935
• − Mortgage interest: −$4,481
• − Property taxes: −$1,200
• − Insurance: −$400
• − Repairs & maintenance: −$1,915
• − Management: −$1,915
• − Depreciation: −$2,327
• Taxable income: $11,697
• Est. tax owed @ 24.0%: −$2,807
• After-tax cash flow: $9,467/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: 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 — Happy Valley

• Score: 76/100
• State rank: #76
• US rank: #3386

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Clackamas County · 361,406 people
• City population: 34,567
• 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

-46.7% since first listed

2 events — show timeline

• 2025-11-18 Listed $79,999 WVMLS
• 2023-10-02 Price Changed $150,000 WVMLS

Property tax history

-3.4%/yr

Latest (2018): $119 · -6.1% YoY. Source: county tax records.