205 N Bridgeton Rd Unit 09W · Portland, OR 97217

$355,000

3 bd · 2.0 ba · 2,009 sqft · SingleFamily · 317 Days on market

Built 1960 Good condition $177/sqft · 37% below area Est $562k · 37% under $1421/mo HOA · 40% of rent ↓ 9% since listing

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Why this score? — see what drove the D- 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).

• ARV discount +15.0/15.0
• 1% rule +5.1/10.0
• Schools +4.7/10.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Cash flow +3.6/30.0
• Rent growth +2.7/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

STUNNING Floating Home w/ Views you WON'T WANT TO MISS! This gorgeous property brings everything Breathtaking about the PNW to your front door! Enjoy the fresh air off the Columbia River stepping foot onto your back deck, or cozy up indoors in the SPACIOUS family room w/ high vaulted ceilings & a gas fireplace! This property has EVERYTHING you've been waiting for w/ easy access from the dock entrance! Enjoy luxury in the large primary bedroom w/ an ensuite including a soaking tub & a lavish standing shower! Located only minutes away from local Country Clubs, Natural Areas, and the Jantzen Beach Shopping Center, this property won't lasting long! Schedule your tour today!

Key facts

• Dock entrance
• Gas fireplace
• Family room

Tags

• FLOATING HOME
• COLUMBIA RIVER
• BACK DECK
• FAMILY ROOM
• GAS FIREPLACE
• DOCK ENTRANCE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $355k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• To cash-flow at today's rent, offer at most $203k (42.9% below list).
• Meets the 1% rule at list price ($4k rent vs $355k).
• Recommended offer: $203k (42.9% below list) — sets the bar for cash-flow.
• Cap rate 2.7% vs local median 2.3% in Portland — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Faubion Elementary School (610 students, 73% FRL); Da Vinci Middle School (434 students, 34% FRL); Benson Polytechnic High School (824 students, 65% FRL) — zoned schools average 57% FRL vs 37% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 397 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 66d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 2,041 units permitted in Multnomah County in 2024 (905 in 5+ unit buildings).
• This rent runs 43% of the median local income ($100k/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 $2k of loan paydown is wiped out by about $11k 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.

Negotiation context

• It's been on market 317 days — a 12% lower offer ($312k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 40% of rent.

Recommended offer $202,878 (42.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 317 days. Have you received any prior offers? Is the seller open to a 43% concession, seller financing, or rate buy-down credit?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 1.01% ✓
• Cap rate: 2.74%
• Cash-on-cash: -12.69%
• DSCR: 0.44
• GRM: 8.3

CMA / ARV

• ARV (median comp): $561,577
• List price: $355,000
• Delta: -36.79%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
531 N Bridgeton Rd Unit 4A	0.22mi	3/2.0	1,952 (-3%)	24mo	$555,000	$284	66
380 N Tomahawk Island Dr	0.13mi	3/3.0	1,800 (-10%)	10mo	$540,000	$300	64
535 NE Bridgeton Rd #2	0.40mi	2/2.0 (-1)	1,852 (-8%)	1mo	$260,000	$140	62
160 N Tomahawk Island Dr	0.21mi	3/2.0	1,851 (-8%)	23mo	$425,000	$230	58
185 N Lotus Beach Dr	0.30mi	3/3.0	2,151 (+7%)	16mo	$944,000	$439	57
710 NE South Shore Rd	0.64mi	3/1.0	2,005 (-0%)	13mo	$485,000	$242	55
500 N Tomahawk Island Dr	0.34mi	3/3.0	1,720 (-14%)	2mo	$745,000	$433	55
191 N Lotus Beach Dr	0.29mi	2/3.0 (-1)	2,275 (+13%)	2mo	$800,000	$352	54
1006 NE Mariners Loop	0.68mi	3/3.0	1,866 (-7%)	1mo	$480,000	$257	51
11808 N Jantzen Dr	0.71mi	2/3.0 (-1)	2,152 (+7%)	20mo	$335,000	$156	29

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 · 0.89% rent growth · sell at horizon

5-year hold

• IRR: -44.0%
• Equity multiple: -0.32×
• Total profit: $-130,985
• Equity at exit: $52,932

10-year hold

• IRR: —
• Equity multiple: -1.27×
• Total profit: $-225,737
• Equity at exit: $30,694

Cash invested: $99,400 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 11 active · 7 under contract
• Months of supply: 9.4 mo (11%/mo absorbed)
• Median asking: $499,900 ($256/sqft)
• Median days on market: 135 d
• This list price: 27% of active listings are priced below it
• ARV vs active asking: +9.4% vs current asking $/sqft

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

ZIP-level market 97217

• Rents YoY: 0.9%
• Active inventory: 397
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $3,573 high
• Mortgage (P&I): −$1,862
• Tax est. 1.5%: −$444 /mo · $5,325/yr
• Insurance: −$148
• HOA: −$1,421
• Vacancy / Maint / Mgmt: −$750
• Net cashflow: $-1,051

Break-even live

Break-even rent $4,904

Max offer price $202,878

Occupancy floor —

Sensitivity live

Price	-10% $-806	-5% $-929	+0% $-1,051	+5% $-1,174	+10% $-1,297
Rent	-10% $-1,334	-5% $-1,192	+0% $-1,051	+5% $-910	+10% $-769
Rate	-1.0pp $-873	-0.5pp $-961	base $-1,051	+0.5pp $-1,143	+1.0pp $-1,237

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: $88,750
• Closing costs: $10,650
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
112 NE Bridgeton Rd Portland, OR	3.0	2.5	2200	$4,700	$2.14	93d	1	0.17mi
11505 NE Yacht Harbor Dr Portland, OR	1.0–2.0	1.0–2.0	2322	$6,461	$2.78	9d	11	0.40mi
10722 NE 5th Ave Portland, OR	2.0	2.5	1611	$2,495	$1.55	65d	1	0.42mi
540 N Hayden Bay Dr Portland, OR	3.0	2.0	1816	$3,095	$1.70	52d	1	0.50mi
1747 N Jantzen Ave Portland, OR	3.0	4.0	2000	$3,100	$1.55	93d	1	1.09mi
1421 SE Columbia Way Vancouver, WA	3.0	2.5	1700	$3,300	$1.94	67d	1	1.12mi
1708 SE Columbia River Dr Vancouver, WA	4.0	3.5	2256	$4,950	$2.19	9d	1	1.14mi
1830 SE Cutter Ln Vancouver, WA	3.0	2.0	1496	$2,400	$1.60	42d	1	1.23mi

HOA detail $1,421/mo · $17,052/yr

• Likely covers: gas

Listing history 50 events

1. 2026-08-08
   days on market $355,000 Active 317 DOM
2. 2026-08-06
   days on market $355,000 Active 315 DOM
3. 2026-08-05
   days on market $355,000 Active 314 DOM
4. 2026-08-04
   days on market $355,000 Active 313 DOM
5. 2026-07-31
   days on market $355,000 Active 309 DOM
6. 2026-07-30
   days on market $355,000 Active 308 DOM
7. 2026-07-30
   days on market $355,000 Active 307 DOM
8. 2026-07-28
   days on market $355,000 Active 306 DOM
9. 2026-07-26
   days on market $355,000 Active 304 DOM
10. 2026-07-24
    days on market $355,000 Active 302 DOM
11. 2026-07-23
    days on market $355,000 Active 301 DOM
12. 2026-07-22
    days on market $355,000 Active 300 DOM
13. 2026-07-21
    days on market $355,000 Active 299 DOM
14. 2026-07-20
    days on market $355,000 Active 298 DOM
15. 2026-07-18
    days on market $355,000 Active 296 DOM
16. 2026-07-18
    days on market $355,000 Active 295 DOM
17. 2026-07-16
    days on market $355,000 Active 294 DOM
18. 2026-07-15
    days on market $355,000 Active 293 DOM
19. 2026-07-14
    days on market $355,000 Active 292 DOM
20. 2026-07-13
    days on market $355,000 Active 291 DOM
21. 2026-07-13
    days on market $355,000 Active 290 DOM
22. 2026-07-11
    days on market $355,000 Active 289 DOM
23. 2026-07-10
    days on market $355,000 Active 288 DOM
24. 2026-07-09
    days on market $355,000 Active 287 DOM
25. 2026-07-07
    days on market $355,000 Active 285 DOM
26. 2026-07-06
    days on market $355,000 Active 284 DOM
27. 2026-07-05
    days on market $355,000 Active 283 DOM
28. 2026-07-03
    days on market $355,000 Active 281 DOM
29. 2026-07-02
    days on market $355,000 Active 280 DOM
30. 2026-07-01
    days on market $355,000 Active 279 DOM
31. 2026-06-30
    days on market $355,000 Active 278 DOM
32. 2026-06-29
    days on market $355,000 Active 277 DOM
33. 2026-06-28
    days on market $355,000 Active 276 DOM
34. 2026-06-27
    days on market $355,000 Active 275 DOM
35. 2026-06-26
    days on market $355,000 Active 274 DOM
36. 2026-06-24
    days on market $355,000 Active 272 DOM
37. 2026-06-22
    days on market $355,000 Active 270 DOM
38. 2026-06-21
    days on market $355,000 Active 269 DOM
39. 2026-06-18
    days on market $355,000 Active 266 DOM
40. 2026-06-17
    price $355,000 Active 265 DOM
41. 2026-06-17
    days on market $365,000 Active 265 DOM
42. 2026-06-16
    days on market $365,000 Active 264 DOM
43. 2026-06-15
    days on market $365,000 Active 263 DOM
44. 2026-06-13
    days on market $365,000 Active 261 DOM
45. 2026-06-09
    days on market $365,000 Active 257 DOM
46. 2026-06-08
    days on market $365,000 Active 256 DOM
47. 2026-06-07
    days on market $365,000 Active 255 DOM
48. 2026-06-03
    days on market $365,000 Active 251 DOM
49. 2026-06-02
    days on market $365,000 Active 250 DOM
50. 2026-06-01
    days on market $365,000 Active 249 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $42,882
• − Mortgage interest: −$19,886
• − Property taxes: −$5,325
• − Insurance: −$1,775
• − Repairs & maintenance: −$3,431
• − Management: −$3,431
• − HOA: −$17,052
• − Depreciation: −$10,327
• Taxable loss: −$18,344
• Est. tax savings @ 24.0%: +$4,403
• After-tax cash flow: $-8,213/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

Good 80/100 Cosmetic rehab Est. rehab $10,045–$30,135 screening

This stunning floating home offers breathtaking views and a spacious layout, making it an ideal investment property.

Value-add opportunities

• Resale paint exterior — enhances curb appeal ↑
• Both install new flooring in kitchen — improves aesthetics and functionality ↑
• Both install new lighting in bathrooms — enhances ambiance and safety ↑

ⓘ Rehab cost is a screening estimate — Cosmetic 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 Faubion Elementary School Middle Da Vinci Middle School High Jefferson 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): 35,169
• Household income: $100,361
• Rent vs Own: 43.5% rent · 56.5% own
• Severe rent burden: 11% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Two or more races 12% Hispanic / Latino 9% Black 7% Asian 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 5% Slovak 4% Portuguese 3%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 90% English-only · Spanish 4% Other Indo-European 1% Chinese 1%

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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: —

Market trends

• HPI YoY: ▼ -747.13%
• Current HPI: 370.7526
• Rent YoY: ▲ 0.89%
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• State GDP YoY: ▲ 2.05%
• F500 in state: 2

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Industry mix (Fortune 500 HQ in OR)

Industry	F500 HQs	Revenue
▸Consumer Goods	1	$51B

Price history

-8.5% since first listed

10 events — show timeline

• 2026-05-07 Price Changed $365,000 RMLS
• 2026-03-18 Price Changed $375,000 RMLS
• 2026-03-12 Price Changed $389,499 RMLS
• 2026-03-04 Price Changed $389,599 RMLS
• 2026-02-27 Price Changed $389,699 RMLS
• 2026-02-19 Price Changed $389,799 RMLS
• 2026-02-03 Price Changed $389,899 RMLS
• 2026-01-06 Price Changed $389,999 RMLS
• 2025-11-18 Price Changed $398,899 RMLS
• 2025-09-25 Listed $398,999 RMLS