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8531 N Edison St N 🏢 Co-op
C+ Composite 64.59
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 +27.4/30.0
  • DSCR +9.6/10.0
  • 1% rule +7.5/10.0
  • ARV discount +7.5/15.0
  • Schools +4.7/10.0
  • Livability +3.9/5.0
  • Rent growth +3.0/5.0
  • Condition / age +1.0/5.0
  • Appreciation +0.0/10.0

$675,000

8531 N Edison St N · Portland, OR 97203
10 bd · 10.0 ba · 5,610 sqft · MultiFamily · 161 Days on market
Built 2001 Poor condition Garage ↓ 2% since listing
🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

Don’t miss this golden opportunity to put your signature mark on a unique property with spectacular views of the St. Johns Bridge! Bring your A-game and imagination to complete this project quickly. Owner is willing to carry financing for 6 to 8 months and/or open to partnering with the right party to catalyze a remarkable outcome! Each townhome is on a separate tax lot (8531 & 8527 N Edison); 4 units altogether (primary home + ADU on each lot). Constructed as mirror images. Bring new energy to provide housing density, affordable housing, and/or creative living space. Visions include co-housing, cooperative living, low-income or mission-oriented housing, or PadSplit.

Key facts

  • To-the-stud remodels
  • Green roofs
  • Spectacular views

Tags

SPECTACULAR VIEWSUNIQUE PROPERTYTO-THE-STUD REMODELSGREEN ROOFS

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…
🏢 Co-op / cooperative unit. The $675,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

  • This is a 2×3bd/2.5ba + 2×2bd/2.5ba units multifamily listed at $675k. Condition is rated poor.
  • This rent per unit runs 32% of the median local income ($79k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Deal economics

  • At list price, monthly cash flow is $2k ($24k/yr) — positive. Per door: $496/mo.
  • The deal already cash-flows at list — no discount required.
  • Meets the 1% rule at list price ($8k rent vs $675k).
  • Recommended offer: $594k (12.0% below list) — sets the bar for market timing.
  • Cap rate 9.8% vs local median 2.3% in Portland — 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 77/100 on livability (#72 in OR, #3,256 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: crime F, cost of living F.
  • Portland SD 1J (urban): math 46% / reading 58% proficiency, ranked #23 of 183 in OR (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
  • Zoned schools: James John Elementary School (337 students, 66% FRL); George Middle School (387 students, 64% FRL); Roosevelt High School (1,484 students, 65% FRL) — zoned schools average 65% FRL vs 37% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
  • Market conditions: Rents rising (+2.1%/yr); 350 active listings in the ZIP; solid renter incomes; 2,041 units permitted in Multnomah County in 2024 (905 in 5+ unit buildings).

Forward outlook

  • Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $20k of value loss. Plan a longer hold.
  • Multnomah County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
  • At projected returns (-3.0% appreciation + 2.1% rent growth), your $189k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

  • It's been on market 161 days — a 12% lower offer ($594k) is reasonable based on typical stale-listing flexibility.
Recommended offer $594,000 (12.0% below list)

Questions for the listing agent

  1. It's been on market 161 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
  2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
  3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
  4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
  5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
  6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
  7. 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?
  8. 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.
  9. 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.
  10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

1% rule
1.25% ✓
Cap rate
9.82%
Cash-on-cash
12.59%
DSCR
1.56
GRM
6.7

CMA / ARV

ARV (median comp)
$1,367,520
List price
$675,000
Delta
-50.64%
Verdict
UNDERPRICED
Comps
9 within 1.0 mi
Show comp detail 3 sales within ~0.75 mi
Address Dist Beds/Ba Sqft Sold Price $/sf Match
8405 N Willamette Blvd 0.08mi 8/4.0 (-2) 4,256 (-24%) 22mo $1,120,000 $263 33
8905 N Edison St 0.28mi 8/7.0 (-2) 4,775 (-15%) 59mo $1,702,500 $357 22
6867 N Fessenden St 1.18mi 11/11.0 (+1) 5,040 (-10%) 60mo $1,050,000 $208 19

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 · 2.11% rent growth · sell at horizon

5-year hold
IRR
1.3%
Equity multiple
1.05×
Total profit
$9,532
Equity at exit
$100,645
10-year hold
IRR
10.1%
Equity multiple
1.75×
Total profit
$141,284
Equity at exit
$58,362

Cash invested: $189,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

Overall (CITY)
0 Strongly Tenant-Friendly
State Oregon
28 Tenant-Leaning · D+6
County
— inherits STATE
City Portland
0 Strongly Tenant-Friendly · D+39
Mandatory relocation for no-cause evictions; rent increase notice 90 days.
Methodology + full state rankings →

Active competition Active MLS

For sale now
1 active
Median asking
$1,899,000 ($430/sqft)
Median days on market
1546 d
This list price
lowest-priced of the active set
ARV vs active asking
-43.3% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 97203

Rents YoY
2.1%
Active inventory
350
Price-to-rent
26.0×

Monthly cashflow live

Estimated rent
$8,414 high interval (Pro) →
Mortgage (P&I)
−$3,540
Tax est. 1.5%
−$844 /mo · $10,125/yr
Insurance
−$281
HOA
−$0
Vacancy / Maint / Mgmt
−$1,767
Net cashflow
$1,982

4-unit breakdown (identical units grouped — click to expand)

UnitsBedsBathsEst. rent
Total (4 units) $8,414

Break-even live

Break-even rent $5,905
Max offer price $675,000
Occupancy floor 71%

Sensitivity live

Price -10% $2,449 -5% $2,216 +0% $1,982 +5% $1,749 +10% $1,516
Rent -10% $1,318 -5% $1,650 +0% $1,982 +5% $2,315 +10% $2,647
Rate -1.0pp $2,322 -0.5pp $2,154 base $1,982 +0.5pp $1,807 +1.0pp $1,629

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
$168,750
Closing costs
$20,250
Reserves months
—
Total cash needed
—

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
—
Monthly P&I
—
Monthly cashflow
—
DSCR
—
Eligible?
—

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
—
Monthly P&I
—
Monthly cashflow
—
DSCR
—
Eligible?
—

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
—
Monthly P&I
—
Monthly cashflow
—
DSCR
—
Eligible?
—

Short-term bridge; refi at stabilization.

Rent comps 40 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
6905 N John Ave Portland, OR 1.0 1.0 570 $1,395 $2.45 87d 1 0.05mi
7032 N Burlington Ave Portland, OR 2.0 1.0 750 $1,749 $2.33 115d 1 0.07mi
6855 N Burlington Ave Portland, OR 1.0 1.0 525 $1,360 $2.59 139d 1 0.07mi
6855 N Burlington Ave Portland, OR 1.0 1.0 598 $1,435 $2.40 42d 1 0.07mi
6855 N Burlington Ave Portland, OR 1.0 1.0 504 $1,355 $2.69 119d 1 0.07mi
7037 N Burlington Ave #3 Portland, OR 2.0 1.0 683 $1,975 $2.89 139d 1 0.08mi
8514 N Syracuse St Portland, OR 2.0 1.5 936 $1,595 $1.70 59d 1 0.12mi
8514 N Syracuse St Portland, OR 2.0 1.5 936 $1,595 $1.70 6d 1 0.12mi
7180 N Leavitt Ave Unit 301 Portland, OR 2.0 2.0 836 $1,899 $2.27 9d 1 0.12mi
8230 N Edison St Portland, OR 2.0 1.0 750 $1,425 $1.90 97d 1 0.13mi
8222 N Edison St Portland, OR 2.0 1.0 750 $1,400 $1.87 94d 1 0.13mi
7210 N Burlington Ave Unit 107 Portland, OR 1.0 1.0 508 $1,399 $2.75 9d 1 0.14mi
7210 N Burlington Ave Unit 205 Portland, OR 2.0 1.5 690 $1,699 $2.46 9d 1 0.14mi
6915 N Philadelphia Ave Unit 6915 Portland, OR 2.0 1.0 833 $1,950 $2.34 42d 1 0.15mi
8208 N Edison St Unit 2 Portland, OR 2.0 1.0 800 $1,480 $1.85 56d 1 0.15mi
7002 N Alta Ave Portland, OR 1.0 1.0 675 $1,385 $2.05 9d 1 0.16mi
6520 N Salem Ave Portland, OR 1.0–2.0 1.0 675 $1,668 $2.47 9d 7 0.16mi
6520 N Salem Ave Portland, OR 2.0 1.0 571 $1,505 $2.63 139d 1 0.16mi
7002-7140 N Alta Ave Unit BRI-7102 Portland, OR 1.0 1.0 675 $1,385 $2.05 42d 1 0.16mi
7002-7140 N Alta Ave Unit BRI-7124 Portland, OR 2.0 1.0 941 $1,585 $1.68 42d 1 0.16mi
7102 N Alta Ave Unit BRI-7102 Portland, OR 1.0 1.0 675 $1,385 $2.05 113d 1 0.17mi
8510 N Ivanhoe St Portland, OR 2.0 1.0 661 $1,849 $2.80 4d 6 0.17mi
6834 N Richmond Ave Portland, OR 1.0 1.0 600 $1,350 $2.25 42d 1 0.17mi
6830 N Richmond Ave Portland, OR 1.0 1.0 600 $1,195 $1.99 139d 1 0.17mi
6824 N Richmond Ave Portland, OR 1.0 1.0 600 $1,250 $2.08 74d 1 0.17mi
6822 N Richmond Ave Portland, OR 1.0 1.0 600 $1,295 $2.16 9d 1 0.17mi
7112 N Alta Ave Unit BRI-7112 Portland, OR 1.0 1.0 675 $1,385 $2.05 113d 1 0.18mi
7124 N Alta Ave Unit BRI-7124 Portland, OR 2.0 1.0 941 $1,585 $1.68 113d 1 0.18mi
7227 N Philadelphia Ave Portland, OR 2.0 1.0 594 $1,800 $3.03 0d 9 0.18mi
6804 N Richmond Ave Unit 6824 Portland, OR 1.0 1.0 600 $1,250 $2.08 74d 1 0.20mi
6804-6838 N Richmond Ave Unit 6830 Portland, OR 1.0 1.0 600 $1,195 $1.99 139d 1 0.20mi
6804-6838 N Richmond Ave Unit 6822 Portland, OR 1.0 1.0 600 $1,295 $2.16 9d 1 0.20mi
7011 N Oswego Ave Unit 7019 Portland, OR 1.0 1.0 400 $1,395 $3.49 74d 1 0.20mi
7011 N Oswego Ave Unit 7019 Portland, OR 1.0 1.0 — $1,395 — 82d 1 0.20mi
7128 N Richmond Ave Unit 5 Portland, OR 2.0 1.0 1100 $1,895 $1.72 119d 1 0.21mi
7373 N Philadelphia Ave Portland, OR 1.0 1.0 529 $1,450 $2.74 74d 6 0.21mi
7373 N Philadelphia Ave Apt 402 Portland, OR 1.0 1.0 576 $1,500 $2.60 0d 1 0.21mi
7373 N Philadelphia Ave Unit 303 Portland, OR 1.0 1.0 579 $1,410 $2.44 42d 1 0.21mi
7373 N Philadelphia Ave Unit 309 Portland, OR 1.0 1.0 549 $1,395 $2.54 40d 1 0.21mi
7373 N Philadelphia Ave Unit 202 Portland, OR 1.0 1.0 576 $1,400 $2.43 42d 1 0.21mi

Property features AI

Finance

Other
Four total units (two 2,177 sq ft 4-bed/4-bath units and two 628 sq ft 1-bed/1-bath units)Total building area approximately 5,610 sq ftParcel numbers R486646 and R486645
Financial info
Rent includes water, sewer and trash collection
HOA & community
Zoned RM2

Exterior

Parking
Driveway2 garage spaces (detached or attached garage not specified)Total parking for 2 vehicles
Utilities
Public waterPublic sewerElectricity
Home design
Multi-family propertyNot attachedUpdated/remodeledBuilt in 2001
Construction
Concrete perimeter foundationSlab foundation
Exterior features
Cement sidingGreen roofMembrane roofSloped lotPaved road accessPark/greenbelt, river and territorial views

Interior

Kitchen
Gas hot water
Bedrooms
Two 4-bedroom unitsTwo 1-bedroom units
Bathrooms
Two units with 4 bathrooms eachTwo units with 1 bathroom each
Heating & cooling
Mini split heatingMini split cooling
Interior features
Storage in garagesDecksUpdated/remodeled conditionWasher/dryer hookups in unitsAir conditioning (mini split systems in units)
Laundry & utility
Washer/dryer hookups available in units

Listing history 50 events

  1. 2026-09-23
    days on market $675,000 Active 161 DOM
  2. 2026-09-22
    days on market $675,000 Active 160 DOM
  3. 2026-09-21
    days on market $675,000 Active 159 DOM
  4. 2026-09-20
    days on market $675,000 Active 158 DOM
  5. 2026-09-19
    days on market $675,000 Active 157 DOM
  6. 2026-09-18
    days on market $675,000 Active 156 DOM
  7. 2026-09-17
    days on market $675,000 Active 155 DOM
  8. 2026-09-16
    days on market $675,000 Active 154 DOM
  9. 2026-09-15
    days on market $675,000 Active 153 DOM
  10. 2026-09-14
    days on market $675,000 Active 152 DOM
  11. 2026-09-14
    days on market $675,000 Active 151 DOM
  12. 2026-09-12
    days on market $675,000 Active 150 DOM
  13. 2026-09-11
    days on market $675,000 Active 149 DOM
  14. 2026-09-05
    days on market $675,000 Active 143 DOM
  15. 2026-09-04
    days on market $675,000 Active 142 DOM
  16. 2026-09-03
    days on market $675,000 Active 141 DOM
  17. 2026-08-31
    days on market $675,000 Active 138 DOM
  18. 2026-08-30
    days on market $675,000 Active 137 DOM
  19. 2026-08-29
    days on market $675,000 Active 136 DOM
  20. 2026-08-28
    days on market $675,000 Active 135 DOM
  21. 2026-08-27
    days on market $675,000 Active 134 DOM
  22. 2026-08-25
    days on market $675,000 Active 132 DOM
  23. 2026-08-24
    days on market $675,000 Active 131 DOM
  24. 2026-08-23
    days on market $675,000 Active 130 DOM
  25. 2026-08-22
    days on market $675,000 Active 129 DOM
  26. 2026-08-21
    days on market $675,000 Active 128 DOM
  27. 2026-08-20
    days on market $675,000 Active 127 DOM
  28. 2026-08-19
    days on market $675,000 Active 126 DOM
  29. 2026-08-18
    days on market $675,000 Active 125 DOM
  30. 2026-08-17
    days on market $675,000 Active 124 DOM
  31. 2026-08-16
    days on market $675,000 Active 123 DOM
  32. 2026-08-15
    days on market $675,000 Active 122 DOM
  33. 2026-08-14
    days on market $675,000 Active 121 DOM
  34. 2026-08-13
    days on market $675,000 Active 120 DOM
  35. 2026-08-11
    days on market $675,000 Active 118 DOM
  36. 2026-08-10
    days on market $675,000 Active 117 DOM
  37. 2026-08-09
    days on market $675,000 Active 116 DOM
  38. 2026-08-08
    days on market $675,000 Active 115 DOM
  39. 2026-08-06
    days on market $675,000 Active 113 DOM
  40. 2026-08-05
    days on market $675,000 Active 112 DOM
  41. 2026-08-04
    days on market $675,000 Active 111 DOM
  42. 2026-08-03
    days on market $675,000 Active 110 DOM
  43. 2026-07-31
    days on market $675,000 Active 107 DOM
  44. 2026-07-30
    days on market $675,000 Active 106 DOM
  45. 2026-07-30
    days on market $675,000 Active 105 DOM
  46. 2026-07-28
    days on market $675,000 Active 104 DOM
  47. 2026-07-26
    days on market $675,000 Active 102 DOM
  48. 2026-07-24
    days on market $675,000 Active 100 DOM
  49. 2026-07-23
    days on market $675,000 Active 99 DOM
  50. 2026-07-22
    days on market $675,000 Active 98 DOM

ⓘ 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 ≥92°F today · 14 d/yr by 30 yrs out
  • 💨 Wind 1/10 Low
  • 🫁 Air quality 9/10 Extreme 12 unhealthy d/yr today · 12 by 30 yrs out

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income
$100,968
− Mortgage interest
−$37,810
− Property taxes
−$10,125
− Insurance
−$3,375
− Repairs & maintenance
−$8,077
− Management
−$8,077
− Depreciation
−$19,636
Taxable income
$13,866
combined federal + state — saved on this device
Est. tax owed @ 24.0%
−$3,328
After-tax cash flow
$20,460/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 · 12 photos

Poor 20/100 Extensive rehab Est. rehab $280,500–$504,900 screening

This multi-family property requires extensive renovation, including exterior siding, interior finishing, and all systems, to become move-in ready and significantly increase its value.

Repairs flagged

  • Major Exterior siding — Exposed framing
  • Major Interior drywall — Exposed framing
  • Major Plumbing — Exposed framing
  • Major Electrical — Exposed framing
  • Major HVAC — Exposed framing

Value-add opportunities

  • Both Complete exterior siding — Enhances curb appeal and value ↑
  • Both Install drywall and finish interior — Improves living space and value ↑
  • Both Install plumbing and fixtures — Ensures functionality and value ↑
  • Both Install electrical and lighting — Ensures safety and value ↑
  • Both Install HVAC and heating system — Ensures comfort and value ↑

ⓘ Rehab cost is a screening estimate — Extensive scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

Zoned Schools

Elementary James John Elementary School Middle George Middle School High Roosevelt High School

Schools (NCES district)

District
Portland SD 1J
NCES district ID
4110040
Math proficiency
46% ▼ -2.00%
Reading proficiency
58% ▼ -3.00%
Median HH income
$57,851
Composite
47.1/100
National rank
#5112
State rank
#23 of 183 in OR
B Composite livability gradescore 77/100

Livability — Portland

Score
77/100
State rank
#72
US rank
#3256

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

Census place
Portland, OR
County
Multnomah County · 930,825 people
City population
774,334
Metro
Portland-Vancouver-Hillsboro, OR-WA
Population (ZIP)
33,116
Household income
$78,660
Rent vs Own
43.0% rent · 57.0% own
Severe rent burden
14% of renters

Population outlook (Multnomah County) Hauer SSP2

Today (2025)
930,825 people
By 2030
996,904 · +7.1%
By 2040
1,121,379 · +20.5%
By 2050
1,242,124 · +33.4%
By 2075
1,464,431 · +57.3%
By 2100
1,576,181 · +69.3%

Race, ethnicity, and origin ACS 2023

Neighborhood character
Diverse neighborhood (Simpson 0.65)
Race & ethnicity
White 55% Hispanic / Latino 17% Two or more races 16% Black 12% Asian 6% Native American 1% Pacific Islander 1%
Hispanic origin (detail)
Mexican 12%
Common ancestry
Italian 3% Portuguese 3% Slovak 3%
Foreign-born
10% · Canada, China
Languages at home
81% English-only · Spanish 11% Other Asian/Pacific 3% Other Indo-European 1%

Political lean MEDSL · Multnomah

2024 margin
Solid D (+62.1) · D 79.3% · R 17.2% · Other 3.5%
2008→2024 swing
+6.0pp toward D · 2008: 56.1pp · 2024: 62.1pp
All cycles
2024: D+62.1 2020: D+61.3 2016: D+58.3 2012: D+54.9 2008: D+56.1

Not yet ingested

Civics
—

Price history

-2.2% since first listed
2 events — show timeline
  • 2026-06-22 Price Changed $675,000 RMLS
  • 2026-04-15 Listed $690,000 RMLS

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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