37600 Sunset St #3 · Sandy, OR 97055

$129,000

2 bd · 2.0 ba · 1,153 sqft · Other · 41 Days on market

Built 1983 $112/sqft · 13% below area Est $149k · 13% under

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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
• ARV discount +13.4/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.0/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Adorable home in a great condition and quiet park. This 2 bedroom, 2 bath home is ready for your touch and has newer vinyl windows, fenced back yard, beautiful hickory cabinets in kitchen and Frigidaire Gallery appliances, includes refrigerator, washer and dryer. Has a small fenced back yard and includes shed.

Key facts

• Fenced back yard
• Newer vinyl windows
• Hickory cabinets

Tags

• NEWER VINYL WINDOWS
• FENCED BACK YARD
• HICKORY CABINETS
• FRIGIDAIRE GALLERY APPLIANCES
• INCLUDES REFRIGERATOR
• INCLUDES WASHER

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $129k.

Deal economics

• At list price, monthly cash flow is $858 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $129k).
• Recommended offer: $125k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.3% vs local median 2.7% in Sandy — 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 84/100 on livability (#30 in OR, #755 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: cost of living D.
• Oregon Trail SD 46 (town): math 47% / reading 64% proficiency, ranked #12 of 183 in OR (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 167 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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 $892 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 + 3.0% rent growth), your $36k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($125k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $84k; list at $129k implies a 54% gain — meaningful room to come down on a strong offer.

Recommended offer $125,130 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-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?
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: 1.72% ✓
• Cap rate: 14.27%
• Cash-on-cash: 28.51%
• DSCR: 2.27
• GRM: 4.9

CMA / ARV

• ARV (median comp): $148,629
• List price: $129,000
• Delta: -13.21%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 22.8%
• Equity multiple: 1.94×
• Total profit: $33,779
• Equity at exit: $19,234

10-year hold

• IRR: 30.8%
• Equity multiple: 3.77×
• Total profit: $99,919
• Equity at exit: $11,154

Cash invested: $36,120 (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 97055

• Active inventory: 167
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $2,215 high
• Mortgage (P&I): −$676
• Tax est. 1.5%: −$161 /mo · $1,935/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$465
• Net cashflow: $858

Break-even live

Break-even rent $1,128

Max offer price $129,000

Occupancy floor 56%

Sensitivity live

Price	-10% $947	-5% $903	+0% $858	+5% $813	+10% $769
Rent	-10% $683	-5% $771	+0% $858	+5% $946	+10% $1,033
Rate	-1.0pp $923	-0.5pp $891	base $858	+0.5pp $825	+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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17333 Ruben Ln #18 Sandy, OR	2.0	2.0	856	$1,895	$2.21	44d	1	0.31mi
38100 Sandy Heights St Sandy, OR	2.0	1.0–2.0	864	$2,070	$2.39	2d	11	0.34mi
18230 Seaman St Sandy, OR	3.0	1.0	1000	$2,400	$2.40	5d	1	0.50mi
18230 Seaman St Sandy, OR	3.0	1.0	1000	$2,400	$2.40	18d	1	0.50mi
18138 Seaman St Sandy, OR	3.0	2.0	1296	$2,495	$1.93	2d	1	0.53mi
38800 Creekside Loop Sandy, OR	2.0	2.0	1000	$1,695	$1.70	2d	1	0.59mi
36196 Skogan Rd Unit 1 Sandy, OR	2.0	2.0	1000	$1,995	$2.00	24d	1	0.71mi
38927 Cascadia Village Dr Sandy, OR	3.0	2.0	1250	$2,500	$2.00	44d	1	0.95mi
39560 Gary St Unit 24 Sandy, OR	2.0	1.0	850	$1,875	$2.21	8d	1	0.99mi
39910 McCormick Dr Unit 39910 Sandy, OR	2.0	1.0	956	$1,950	$2.04	24d	1	1.11mi
39895 Evans St Sandy, OR	3.0	2.5	1215	$2,795	$2.30	8d	1	1.14mi
19040 Wallingford Ave Sandy, OR	3.0	2.0	1217	$2,650	$2.18	44d	1	1.15mi

Listing history 7 events

1. 2026-05-18
   price $129,000 311-char remark

   Show marketing remark (311 chars)

   Adorable home in a great condition and quiet park. This 2 bedroom, 2 bath home is ready for your touch and has newer vinyl windows, fenced back yard, beautiful hickory cabinets in kitchen and Frigidaire Gallery appliances, includes refrigerator, washer and dryer. Has a small fenced back yard and includes shed.

2. 2026-04-11
   listed $139,000 Active 311-char remark

   Show marketing remark (311 chars)

   Adorable home in a great condition and quiet park. This 2 bedroom, 2 bath home is ready for your touch and has newer vinyl windows, fenced back yard, beautiful hickory cabinets in kitchen and Frigidaire Gallery appliances, includes refrigerator, washer and dryer. Has a small fenced back yard and includes shed.

3. 2020-06-19
   soldstatus $84,000 Sold 324-char remark

   Show marketing remark (324 chars)

   Adorable home in a great, quiet park with new pellet stove, flooring, carpet, water heater, vinyl windows, heat pump and newly painted interior. Newer 25 yr roof installed in 2016 and updated kitchen with hickory cabinets and Frigidaire Gallery appliances. Has small fenced yard with shed and Backs to private green space.

4. 2020-05-06
   status Pending 324-char remark

   Show marketing remark (324 chars)

   Adorable home in a great, quiet park with new pellet stove, flooring, carpet, water heater, vinyl windows, heat pump and newly painted interior. Newer 25 yr roof installed in 2016 and updated kitchen with hickory cabinets and Frigidaire Gallery appliances. Has small fenced yard with shed and Backs to private green space.

5. 2020-05-04
   status Active 324-char remark

   Show marketing remark (324 chars)

   Adorable home in a great, quiet park with new pellet stove, flooring, carpet, water heater, vinyl windows, heat pump and newly painted interior. Newer 25 yr roof installed in 2016 and updated kitchen with hickory cabinets and Frigidaire Gallery appliances. Has small fenced yard with shed and Backs to private green space.

6. 2020-04-27
   status Pending 324-char remark

   Show marketing remark (324 chars)

   Adorable home in a great, quiet park with new pellet stove, flooring, carpet, water heater, vinyl windows, heat pump and newly painted interior. Newer 25 yr roof installed in 2016 and updated kitchen with hickory cabinets and Frigidaire Gallery appliances. Has small fenced yard with shed and Backs to private green space.

7. 2020-04-22
   listed $89,900 Active 324-char remark

   Show marketing remark (324 chars)

   Adorable home in a great, quiet park with new pellet stove, flooring, carpet, water heater, vinyl windows, heat pump and newly painted interior. Newer 25 yr roof installed in 2016 and updated kitchen with hickory cabinets and Frigidaire Gallery appliances. Has small fenced yard with shed and Backs to private green space.

ⓘ 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 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥89°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 11 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,575
• − Mortgage interest: −$7,226
• − Property taxes: −$1,935
• − Insurance: −$645
• − Repairs & maintenance: −$2,126
• − Management: −$2,126
• − Depreciation: −$3,753
• Taxable income: $8,764
• Est. tax owed @ 24.0%: −$2,103
• After-tax cash flow: $8,193/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: Oregon Trail SD 46
• NCES district ID: 4110890
• Math proficiency: 47% ▬ 0.00%
• Reading proficiency: 64% ▲ 1.00%
• Median HH income: $61,406
• Composite: 50.19/100
• National rank: #4075
• State rank: #12 of 183 in OR

Livability — Sandy

• Score: 84/100
• State rank: #30
• US rank: #755

Category grades

Amenities C Commute B+ Cost of living D 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: Sandy, OR
• County: Clackamas County · 361,406 people
• City population: 19,786
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 19,786
• Household income: $112,323
• Rent vs Own: 21.2% rent · 78.8% own
• Severe rent burden: 377.0

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 (87%)
• Race & ethnicity: White 87% Two or more races 8% Hispanic / Latino 5% Asian 1% Native American 1%
• Common ancestry: Portuguese 4% Iranian 4% Italian 3%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 95% English-only · Spanish 2% Other Asian/Pacific 1% German/W. Germanic 1%

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: ▼ -230.74%
• Current HPI: 274.9046
• Rent YoY: —
• 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

+43.5% since first listed

7 events — show timeline

• 2026-05-18 Price Changed $129,000 RMLS
• 2026-04-11 Listed $139,000 RMLS
• 2020-06-19 Sold (MLS) $84,000 RMLS
• 2020-05-06 Pending — RMLS
• 2020-05-04 Relisted — RMLS
• 2020-04-27 Pending — RMLS
• 2020-04-22 Listed $89,900 RMLS

Property tax history

+2.4%/yr

Latest (2018): $238 · +10.9% YoY. Source: county tax records.