8951 SE Fuller Rd #37 · Portland, OR 97086

$84,999

2 bd · 1.0 ba · 784 sqft · Other · 227 Days on market

Built 1982 $108/sqft · 50% above area Est $57k · 50% over ↓ 15% since listing

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Schools +3.2/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

SPACE RENT IS ONE OF THE LOWEST IN TOWN: $860/MONTH. Welcome Home! Discover this beautifully updated manufactured home tucked away in a peaceful and private park setting. Every detail has been thoughtfully refreshed — from the modern countertops and remodeled bathroom to the new flooring and fresh finishes throughout. No surface has been left untouched, giving this home a truly move-in-ready feel. Enjoy the spacious main living area — perfect for entertaining guests or relaxing after a long day. With generously sized bedrooms, bright natural light, and a warm, inviting layout, this home combines comfort and style in one affordable package. Ready and waiting for its new owner — come tour it today before it’s gone!

Key facts

• Built 1982
• Listed 227 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $85k.

Deal economics

• At list price, monthly cash flow is $835 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.1% vs local median 2.2% 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.
• 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.
• Zoned schools: Milwaukie El Puente Elementary School (math 34% / reading 15%, grade F, #309 of 412 statewide, top 77%, 418 students, 0% FRL); Rowe Middle School (math 12% / reading 27%, grade F, #124 of 128 statewide, top 98%, 722 students, 70% FRL); Milwaukie High School (904 students, 93% FRL) — zoned schools average 54% FRL vs 34% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 22% at this address vs 36% district-wide (-14 pts) — the specific schools serving this property underperform the North Clackamas SD 12 average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.9%/yr); 353 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $587 of loan paydown is wiped out by about $3k 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 + 1.9% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 227 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.

Recommended offer $74,799 (12.0% below list)

Questions for the listing agent

1. It's been on market 227 days. Have you received any prior offers? Is the seller open to a 12% 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. 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?
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: 1.98% ✓
• Cap rate: 18.09%
• Cash-on-cash: 42.13%
• DSCR: 2.87
• GRM: 4.2

CMA / ARV

• ARV (median comp): $56,753
• List price: $84,999
• Delta: 49.77%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.89% rent growth · sell at horizon

5-year hold

• IRR: 37.6%
• Equity multiple: 2.58×
• Total profit: $37,546
• Equity at exit: $12,674

10-year hold

• IRR: 43.6%
• Equity multiple: 4.93×
• Total profit: $93,617
• Equity at exit: $7,349

Cash invested: $23,800 (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 →

ZIP-level market 97086

• Rents YoY: 1.9%
• Active inventory: 353
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,685 high
• Mortgage (P&I): −$446
• Tax from tax record: −$15 /mo · $176/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $835

Break-even live

Break-even rent $628

Max offer price $84,999

Occupancy floor 45%

Sensitivity live

Price	-10% $884	-5% $860	+0% $835	+5% $715	+10% $685
Rent	-10% $702	-5% $769	+0% $835	+5% $902	+10% $969
Rate	-1.0pp $878	-0.5pp $857	base $835	+0.5pp $813	+1.0pp $791

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8942 SE 79th Pl Unit 8942 Portland, OR	2.0	1.0	1000	$1,495	$1.50	0d	1	0.33mi
8950 SE 79th Pl Portland, OR	2.0	1.0	1000	$1,472	$1.47	25d	4	0.34mi
8950 SE 79th Pl Portland, OR	2.0	1.0	1000	$1,495	$1.50	23d	1	0.34mi
8495 SE Otty Rd Unit duplex Happy Valley, OR	3.0	1.0	924	$2,100	$2.27	45d	1	0.44mi
7686 SE Overland St Unit 7686 Milwaukie, OR	1.0	1.0	928	$2,095	$2.26	23d	1	0.51mi
7707 SE Otty St Portland, OR	3.0	1.0	828	$2,245	$2.71	19d	1	0.58mi
9701 SE Johnson Creek Blvd Happy Valley, OR	1.0–2.0	1.0–2.0	937	$2,359	$2.52	0d	20	0.64mi
8860 SE Flavel St Unit 48 Portland, OR	2.0	1.0	806	$1,549	$1.92	45d	1	0.70mi
8860 SE Flavel St Unit 46 Portland, OR	2.0	1.0	806	$1,469	$1.82	45d	1	0.70mi
8860 SE Flavel St Unit 51 Portland, OR	2.0	1.0	806	$1,449	$1.80	45d	1	0.70mi
8860 SE Flavel St Unit 6 Portland, OR	2.0	1.0	806	$1,449	$1.80	0d	1	0.70mi
7911 SE King Rd Unit 50 Milwaukie, OR	2.0	1.5	920	$1,595	$1.73	22d	1	0.72mi
7911 SE King Rd Portland, OR	1.0	1.0	540	$1,350	$2.50	19d	1	0.72mi
7911 SE King Rd Portland, OR	2.0	1.5	920	$1,700	$1.85	23d	1	0.72mi
7911 SE King Rd Portland, OR	2.0	1.5	920	$1,700	$1.85	45d	1	0.72mi
7911 SE King Rd Portland, OR	1.0	1.0	540	$1,300	$2.41	25d	1	0.72mi
8300 SE Flavel St Unit 102 Portland, OR	2.0	1.0	1011	$1,650	$1.63	45d	1	0.73mi
7911 SE King Rd Unit 42 Milwaukie, OR	2.0	1.5	920	$1,595	$1.73	18d	1	0.73mi
8824 SE Flavel St Unit 8824-4 Portland, OR	2.0	1.0	720	$1,569	$2.18	45d	1	0.73mi
8824 SE Flavel St Unit 8824-5 Portland, OR	2.0	1.0	720	$1,529	$2.12	25d	1	0.73mi
8304 SE Flavel St Portland, OR	2.0	1.0	650	$1,695	$2.61	45d	1	0.73mi
7911 SE King Rd Unit 38 Milwaukie, OR	2.0	1.5	920	$1,495	$1.62	25d	1	0.76mi
7915 SE King Rd Portland, OR	2.0	1.0	925	$1,800	$1.95	0d	2	0.77mi
8756 SE Henderson St Unit 147-8753 Portland, OR	2.0	1.5	1100	$2,095	$1.90	45d	1	0.77mi
9118 SE Flavel St Portland, OR	1.0–2.0	1.0	800	$1,395	$1.74	13d	3	0.77mi
9118 SE Flavel St Unit 23 Portland, OR	1.0	1.0	750	$1,195	$1.59	9d	1	0.78mi
9118 SE Flavel St Unit 30 Portland, OR	2.0	1.0	850	$1,395	$1.64	6d	1	0.78mi
9118 SE Flavel St Unit 10 Portland, OR	1.0	1.0	750	$1,195	$1.59	25d	1	0.78mi
9118 SE Flavel St Unit 10 Portland, OR	1.0	1.0	750	$1,195	$1.59	23d	1	0.78mi
9118 SE Flavel St Unit 28 Portland, OR	2.0	1.0	850	$1,395	$1.64	25d	1	0.78mi
7828 SE Aspen Summit Dr Portland, OR	1.0–3.0	1.0–2.0	1000	$2,136	$2.13	0d	21	0.78mi
7911 SE King Rd Unit 10 Milwaukie, OR	1.0	1.0	540	$1,300	$2.41	19d	1	0.79mi
8104 SE 72nd Ave Portland, OR	2.0	1.0	1000	$2,195	$2.19	5d	1	0.80mi
7911 SE King Rd Apt 22 Milwaukie, OR	1.0	1.0	540	$1,250	$2.31	25d	1	0.81mi
8057 SE Monroe St Portland, OR	2.0	2.0	900	$1,799	$2.00	0d	1	0.92mi
7008 SE 86th Ave Portland, OR	3.0	1.0	1008	$2,345	$2.33	46d	1	0.96mi
7946 SE Monroe St Unit 7958 Milwaukie, OR	2.0	1.0	775	$1,499	$1.93	45d	1	0.97mi
10411 SE Cook Ct Portland, OR	2.0	2.0	893	$1,765	$1.98	45d	1	0.97mi
10411 SE Cook Ct Portland, OR	1.0	1.0	699	$1,530	$2.19	46d	1	0.97mi
10411 SE Cook Ct Portland, OR	2.0	2.0	893	$1,885	$2.11	16d	1	0.97mi

Listing history 17 events

1. 2026-06-21
   days on market $84,999 Active 227 DOM
2. 2026-06-18
   days on market $84,999 Active 224 DOM
3. 2026-06-17
   days on market $84,999 Active 223 DOM
4. 2026-06-16
   days on market $84,999 Active 222 DOM
5. 2026-06-15
   days on market $84,999 Active 221 DOM
6. 2026-06-13
   days on market $84,999 Active 219 DOM
7. 2026-06-09
   days on market $84,999 Active 215 DOM
8. 2026-06-08
   days on market $84,999 Active 214 DOM
9. 2026-06-07
   days on market $84,999 Active 213 DOM
10. 2026-06-05
    days on market $84,999 Active 210 DOM
11. 2026-06-03
    days on market $84,999 Active 209 DOM
12. 2026-06-02
    days on market $84,999 Active 208 DOM
13. 2026-06-01
    days on market $84,999 Active 207 DOM
14. 2026-05-31
    days on market $84,999 Active 206 DOM
15. 2026-03-29
    price $84,999 746-char remark

    Show marketing remark (746 chars)

    SPACE RENT IS ONE OF THE LOWEST IN TOWN: $860/MONTH. Welcome Home! Discover this beautifully updated manufactured home tucked away in a peaceful and private park setting. Every detail has been thoughtfully refreshed — from the modern countertops and remodeled bathroom to the new flooring and fresh finishes throughout. No surface has been left untouched, giving this home a truly move-in-ready feel. Enjoy the spacious main living area — perfect for entertaining guests or relaxing after a long day. With generously sized bedrooms, bright natural light, and a warm, inviting layout, this home combines comfort and style in one affordable package. Ready and waiting for its new owner — come tour it today before it’s gone!

16. 2026-01-02
    price $89,999 746-char remark

    Show marketing remark (746 chars)

    SPACE RENT IS ONE OF THE LOWEST IN TOWN: $860/MONTH. Welcome Home! Discover this beautifully updated manufactured home tucked away in a peaceful and private park setting. Every detail has been thoughtfully refreshed — from the modern countertops and remodeled bathroom to the new flooring and fresh finishes throughout. No surface has been left untouched, giving this home a truly move-in-ready feel. Enjoy the spacious main living area — perfect for entertaining guests or relaxing after a long day. With generously sized bedrooms, bright natural light, and a warm, inviting layout, this home combines comfort and style in one affordable package. Ready and waiting for its new owner — come tour it today before it’s gone!

17. 2025-11-06
    listed $99,997 Active 746-char remark

    Show marketing remark (746 chars)

    SPACE RENT IS ONE OF THE LOWEST IN TOWN: $860/MONTH. Welcome Home! Discover this beautifully updated manufactured home tucked away in a peaceful and private park setting. Every detail has been thoughtfully refreshed — from the modern countertops and remodeled bathroom to the new flooring and fresh finishes throughout. No surface has been left untouched, giving this home a truly move-in-ready feel. Enjoy the spacious main living area — perfect for entertaining guests or relaxing after a long day. With generously sized bedrooms, bright natural light, and a warm, inviting layout, this home combines comfort and style in one affordable package. Ready and waiting for its new owner — come tour it today before it’s gone!

ⓘ 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: $176 · $15/mo
• Projected year-2 tax: $824 · $69/mo
• Expected delta: +$649/yr (+$54/mo · 368.7%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 19 unhealthy d/yr today · 21 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,222
• − Mortgage interest: −$4,761
• − Property taxes: −$176
• − Insurance: −$425
• − Repairs & maintenance: −$1,618
• − Management: −$1,618
• − Depreciation: −$2,473
• Taxable income: $9,152
• Est. tax owed @ 24.0%: −$2,196
• After-tax cash flow: $7,829/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 — 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

• County: Clackamas County · 361,406 people
• City population: 774,334
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 34,567
• Household income: $102,359
• Rent vs Own: 37.3% rent · 62.7% own
• Severe rent burden: 1281.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 63% Asian 17% Two or more races 12% Hispanic / Latino 9% Black 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 4% Portuguese 4% Lithuanian 2%
• Foreign-born: 18% · Canada, Vietnam, China
• Languages at home: 79% English-only · Spanish 5% Vietnamese 3% Chinese 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: ▼ -279.06%
• Current HPI: 261.5208
• Rent YoY: ▲ 1.89%
• 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

-15.0% since first listed

3 events — show timeline

• 2026-03-29 Price Changed $84,999 RMLS
• 2026-01-02 Price Changed $89,999 RMLS
• 2025-11-06 Listed $99,997 RMLS

Property tax history

+1.9%/yr

Latest (2018): $176 · +12.5% YoY. Source: county tax records.