507 N 19th Ave #99 · Cornelius, OR 97113

$124,900

3 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 211 Days on market

Built 1980 $93/sqft · 20% above area Est $104k · 20% over

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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 +4.1/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover Your Dream Home at Smoke Tree Mobile Home Estates!Welcome to Smoke Tree Mobile Home Estates, a serene 55+ community where comfort meets elegance. Available for just **$925 per month, our stunning double-wide 3-bedroom, 2-bath residence offers a generous 1,344 sq. ft. of beautifully remodeled living space—turnkey and ready for you to move in!Key Features:- Complete Remodel: Enjoy new LP flooring, plush carpeting, and a modern open-concept layout.- **Gourmet Kitchen: Entertain with style with granite countertops, stainless steel Samsung appliances, including a smart range and dishwasher, under mount sinks, and chic new cabinetry. Comfort & Efficiency: Relax in a home equipped with a heat pump cooling system that can lower your electricity bill.Outdoor Bliss: Features a metal roof covering front and back decks, ample outdoor parking, and low maintenance landscaping complete with solar lighting and a workshop. Peaceful Living: Embrace tranquility in a community that welcomes two pets under 30 lbs. Convenient Amenities: Laundry room, primary bath with new vanities, and soaking tub for added comfort.Experience unparalleled elegance and comfort at Smoke Tree Mobile Home Estates. Don’t miss your chance to call this breathtaking home your own!

Key facts

• Complete remodel
• Metal roof
• Gourmet kitchen

Tags

• COMPLETE REMODEL
• GOURMET KITCHEN
• HEAT PUMP COOLING SYSTEM
• METAL ROOF
• OUTDOOR PARKING
• LOW MAINTENANCE LANDSCAPING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $918 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.1% vs local median 2.9% in Cornelius — 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 82/100 on livability (#47 in OR, #1,193 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: amenities C-, cost of living C-, schools F.
• Forest Grove SD 15 (suburban): math 32% / reading 46% proficiency, ranked #111 of 183 in OR (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 113 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 2,224 units permitted in Washington County in 2024 (242 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Washington County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 211 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $69k (36%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $109,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 211 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.76% ✓
• Cap rate: 15.12%
• Cash-on-cash: 31.51%
• DSCR: 2.40
• GRM: 4.7

CMA / ARV

• ARV (median comp): $104,353
• List price: $124,900
• Delta: 19.69%
• Verdict: OVERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
507 N 19th Ave #37	0.00mi	3/2.0	1,344 (0%)	13mo	$120,000	$89	89
507 N 19th Ave #68	0.00mi	3/2.0	1,344 (0%)	20mo	$95,000	$71	84
507 N 19th Ave #60	0.00mi	3/2.0	1,456 (+8%)	7mo	$149,000	$102	80
2329 N Gray St	0.33mi	3/2.0	1,296 (-4%)	2mo	$375,000	$289	77
893 N 14th Pl #32	0.23mi	3/2.0	1,296 (-4%)	16mo	$160,000	$123	70
570 N 10th Ave #56	0.35mi	3/2.0	1,404 (+4%)	8mo	$65,000	$46	69
570 N 10th Ave #10	0.35mi	3/2.0	1,188 (-12%)	5mo	$45,000	$38	60
570 N 10th Ave #49	0.35mi	3/2.0	1,440 (+7%)	14mo	$131,000	$91	60

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.4%
• Equity multiple: 2.09×
• Total profit: $38,252
• Equity at exit: $18,623

10-year hold

• IRR: 34.0%
• Equity multiple: 4.11×
• Total profit: $108,635
• Equity at exit: $10,799

Cash invested: $34,972 (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 97113

• Active inventory: 113
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $2,193 high
• Mortgage (P&I): −$655
• Tax from tax record: −$107 /mo · $1,289/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $918

Break-even live

Break-even rent $1,031

Max offer price $124,900

Occupancy floor 53%

Sensitivity live

Price	-10% $989	-5% $954	+0% $918	+5% $883	+10% $848
Rent	-10% $745	-5% $832	+0% $918	+5% $1,005	+10% $1,092
Rate	-1.0pp $981	-0.5pp $950	base $918	+0.5pp $886	+1.0pp $853

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
889 N 18th Ave Cornelius, OR	3.0	2.5	1492	$2,395	$1.61	2d	1	0.08mi
896 N 18th Ave Cornelius, OR	3.0	2.5	1519	$2,495	$1.64	17d	1	0.10mi
898 N 18th Ave Cornelius, OR	3.0	2.5	1417	$2,195	$1.55	2d	1	0.10mi
873 N 19th Ave Cornelius, OR	3.0	2.5	1396	$2,245	$1.61	2d	1	0.11mi
120 N 7th Ave Unit D Cornelius, OR	2.0	2.0	1015	$1,699	$1.67	44d	1	0.68mi
110 N 7th Ave Apt C Cornelius, OR	2.0	2.0	1015	$1,749	$1.72	44d	1	0.68mi
110 N 7th Ave Apt A Cornelius, OR	2.0	2.0	1015	$1,609	$1.59	8d	1	0.68mi
2795 N Clark Ct Cornelius, OR	3.0	2.0	1100	$2,295	$2.09	18d	1	0.68mi
100 N 7th Ave Apt B Cornelius, OR	2.0	2.0	1015	$1,599	$1.58	15d	1	0.69mi
100 N 7th Ave Unit A Cornelius, OR	2.0	2.0	1015	$1,595	$1.57	21d	1	0.69mi
101 N 7th Ave Apt D Cornelius, OR	2.0	1.5	936	$1,545	$1.65	15d	1	0.71mi
101 N 7th Ave Unit C Cornelius, OR	2.0	1.5	936	$1,499	$1.60	22d	1	0.71mi
299 N 5th Pl Cornelius, OR	2.0	2.0	956	$1,900	$1.99	44d	1	0.79mi
184 S 5th Ave Unit 164 Cornelius, OR	2.0	1.5	1114	$1,795	$1.61	15d	1	0.87mi
2095 S Heather St Cornelius, OR	3.0	2.5	1705	$2,695	$1.58	11d	1	0.89mi
4300 Pacific Ave Forest Grove, OR	2.0	1.5	950	$1,645	$1.73	2d	5	1.16mi
1235 S 28th Ave Cornelius, OR	3.0	2.5	1576	$2,295	$1.46	44d	1	1.21mi
4204 Pacific Ave Forest Grove, OR	2.0	1.0	900	$1,500	$1.67	2d	1	1.23mi
313 S Nectarine St Cornelius, OR	3.0	2.0	1114	$2,295	$2.06	20d	1	1.41mi

Listing history 15 events

1. 2026-06-18
   days on market $124,900 Active 211 DOM
2. 2026-06-17
   pricedays on market $124,900 Active 210 DOM
3. 2026-06-16
   days on market $127,900 Active 209 DOM
4. 2026-06-15
   days on market $127,900 Active 208 DOM
5. 2026-06-13
   days on market $127,900 Active 206 DOM
6. 2026-06-10
   pricestatus $127,900 Active 202 DOM
7. 2026-05-04
   price $148,500 1279-char remark

   Show marketing remark (1279 chars)

   Discover Your Dream Home at Smoke Tree Mobile Home Estates!Welcome to Smoke Tree Mobile Home Estates, a serene 55+ community where comfort meets elegance. Available for just **$925 per month, our stunning double-wide 3-bedroom, 2-bath residence offers a generous 1,344 sq. ft. of beautifully remodeled living space—turnkey and ready for you to move in!Key Features:- Complete Remodel: Enjoy new LP flooring, plush carpeting, and a modern open-concept layout.- **Gourmet Kitchen: Entertain with style with granite countertops, stainless steel Samsung appliances, including a smart range and dishwasher, under mount sinks, and chic new cabinetry. Comfort & Efficiency: Relax in a home equipped with a heat pump cooling system that can lower your electricity bill.Outdoor Bliss: Features a metal roof covering front and back decks, ample outdoor parking, and low maintenance landscaping complete with solar lighting and a workshop. Peaceful Living: Embrace tranquility in a community that welcomes two pets under 30 lbs. Convenient Amenities: Laundry room, primary bath with new vanities, and soaking tub for added comfort.Experience unparalleled elegance and comfort at Smoke Tree Mobile Home Estates. Don’t miss your chance to call this breathtaking home your own!

8. 2026-03-19
   price $168,500 1279-char remark

   Show marketing remark (1279 chars)

   Discover Your Dream Home at Smoke Tree Mobile Home Estates!Welcome to Smoke Tree Mobile Home Estates, a serene 55+ community where comfort meets elegance. Available for just **$925 per month, our stunning double-wide 3-bedroom, 2-bath residence offers a generous 1,344 sq. ft. of beautifully remodeled living space—turnkey and ready for you to move in!Key Features:- Complete Remodel: Enjoy new LP flooring, plush carpeting, and a modern open-concept layout.- **Gourmet Kitchen: Entertain with style with granite countertops, stainless steel Samsung appliances, including a smart range and dishwasher, under mount sinks, and chic new cabinetry. Comfort & Efficiency: Relax in a home equipped with a heat pump cooling system that can lower your electricity bill.Outdoor Bliss: Features a metal roof covering front and back decks, ample outdoor parking, and low maintenance landscaping complete with solar lighting and a workshop. Peaceful Living: Embrace tranquility in a community that welcomes two pets under 30 lbs. Convenient Amenities: Laundry room, primary bath with new vanities, and soaking tub for added comfort.Experience unparalleled elegance and comfort at Smoke Tree Mobile Home Estates. Don’t miss your chance to call this breathtaking home your own!

9. 2025-12-09
   price $179,900 1279-char remark

   Show marketing remark (1279 chars)

   Discover Your Dream Home at Smoke Tree Mobile Home Estates!Welcome to Smoke Tree Mobile Home Estates, a serene 55+ community where comfort meets elegance. Available for just **$925 per month, our stunning double-wide 3-bedroom, 2-bath residence offers a generous 1,344 sq. ft. of beautifully remodeled living space—turnkey and ready for you to move in!Key Features:- Complete Remodel: Enjoy new LP flooring, plush carpeting, and a modern open-concept layout.- **Gourmet Kitchen: Entertain with style with granite countertops, stainless steel Samsung appliances, including a smart range and dishwasher, under mount sinks, and chic new cabinetry. Comfort & Efficiency: Relax in a home equipped with a heat pump cooling system that can lower your electricity bill.Outdoor Bliss: Features a metal roof covering front and back decks, ample outdoor parking, and low maintenance landscaping complete with solar lighting and a workshop. Peaceful Living: Embrace tranquility in a community that welcomes two pets under 30 lbs. Convenient Amenities: Laundry room, primary bath with new vanities, and soaking tub for added comfort.Experience unparalleled elegance and comfort at Smoke Tree Mobile Home Estates. Don’t miss your chance to call this breathtaking home your own!

10. 2025-11-07
    listed $193,700 Active 1279-char remark

    Show marketing remark (1279 chars)

    Discover Your Dream Home at Smoke Tree Mobile Home Estates!Welcome to Smoke Tree Mobile Home Estates, a serene 55+ community where comfort meets elegance. Available for just **$925 per month, our stunning double-wide 3-bedroom, 2-bath residence offers a generous 1,344 sq. ft. of beautifully remodeled living space—turnkey and ready for you to move in!Key Features:- Complete Remodel: Enjoy new LP flooring, plush carpeting, and a modern open-concept layout.- **Gourmet Kitchen: Entertain with style with granite countertops, stainless steel Samsung appliances, including a smart range and dishwasher, under mount sinks, and chic new cabinetry. Comfort & Efficiency: Relax in a home equipped with a heat pump cooling system that can lower your electricity bill.Outdoor Bliss: Features a metal roof covering front and back decks, ample outdoor parking, and low maintenance landscaping complete with solar lighting and a workshop. Peaceful Living: Embrace tranquility in a community that welcomes two pets under 30 lbs. Convenient Amenities: Laundry room, primary bath with new vanities, and soaking tub for added comfort.Experience unparalleled elegance and comfort at Smoke Tree Mobile Home Estates. Don’t miss your chance to call this breathtaking home your own!

11. 2025-02-21
    soldstatus $184,000 Closed 1055-char remark

    Show marketing remark (1055 chars)

    Smoke tree Mobile Home Estates is a 55+ Park, Park rent $925.00 includes water, sewer, & garbage. BEAUTIFUL Double wide 3 bedroom 2 bath. 1344 square ft. Complete remodel-Turn Key Ready! Metal roof covering front and back deck. Plenty of outdoor parking & low maintenance Solar lighting landscaping including a workshop. Heatpump cooling system Lower's your electric bill up to 42% This home will take your breath away @ first glance w/ new LP flooring & new Carpet. Granite countertops w/ Under mount kitchen and bathroom sinks. Garbage disposal, built-in microwave Samsung 5 element Smart range, Samsung smart refrigerator, Samsung smart dishwasher. Textured walls, soft interior color includes wide baseboard trim. Open Concept. Counter space in the kitchen is perfect for entertaining family & friends. Enjoy the peacefulness while exploring this home. Stainless steal appliances. New kitchen cabinets and drawers. Laundry room. Primary bathroom w/new toilets, vanities, soaking tub in hall bathroom. Park allows 2 pets under 30Lbs.

12. 2025-01-25
    status Pending 1055-char remark

    Show marketing remark (1055 chars)

    Smoke tree Mobile Home Estates is a 55+ Park, Park rent $925.00 includes water, sewer, & garbage. BEAUTIFUL Double wide 3 bedroom 2 bath. 1344 square ft. Complete remodel-Turn Key Ready! Metal roof covering front and back deck. Plenty of outdoor parking & low maintenance Solar lighting landscaping including a workshop. Heatpump cooling system Lower's your electric bill up to 42% This home will take your breath away @ first glance w/ new LP flooring & new Carpet. Granite countertops w/ Under mount kitchen and bathroom sinks. Garbage disposal, built-in microwave Samsung 5 element Smart range, Samsung smart refrigerator, Samsung smart dishwasher. Textured walls, soft interior color includes wide baseboard trim. Open Concept. Counter space in the kitchen is perfect for entertaining family & friends. Enjoy the peacefulness while exploring this home. Stainless steal appliances. New kitchen cabinets and drawers. Laundry room. Primary bathroom w/new toilets, vanities, soaking tub in hall bathroom. Park allows 2 pets under 30Lbs.

13. 2024-12-07
    listed $184,000 Active 1055-char remark

    Show marketing remark (1055 chars)

    Smoke tree Mobile Home Estates is a 55+ Park, Park rent $925.00 includes water, sewer, & garbage. BEAUTIFUL Double wide 3 bedroom 2 bath. 1344 square ft. Complete remodel-Turn Key Ready! Metal roof covering front and back deck. Plenty of outdoor parking & low maintenance Solar lighting landscaping including a workshop. Heatpump cooling system Lower's your electric bill up to 42% This home will take your breath away @ first glance w/ new LP flooring & new Carpet. Granite countertops w/ Under mount kitchen and bathroom sinks. Garbage disposal, built-in microwave Samsung 5 element Smart range, Samsung smart refrigerator, Samsung smart dishwasher. Textured walls, soft interior color includes wide baseboard trim. Open Concept. Counter space in the kitchen is perfect for entertaining family & friends. Enjoy the peacefulness while exploring this home. Stainless steal appliances. New kitchen cabinets and drawers. Laundry room. Primary bathroom w/new toilets, vanities, soaking tub in hall bathroom. Park allows 2 pets under 30Lbs.

14. 1996-07-15
    soldstatus $29,000
15. 1980-04-01
    soldstatus $27,300

ⓘ 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: $1,289 · $107/mo
• Projected year-2 tax: $1,289 · $107/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 11 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,321
• − Mortgage interest: −$6,996
• − Property taxes: −$1,289
• − Insurance: −$624
• − Repairs & maintenance: −$2,106
• − Management: −$2,106
• − Depreciation: −$3,633
• Taxable income: $9,566
• Est. tax owed @ 24.0%: −$2,296
• After-tax cash flow: $8,724/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: Forest Grove SD 15
• NCES district ID: 4105160
• Math proficiency: 32% ▼ -4.00%
• Reading proficiency: 46% ▼ -4.00%
• Median HH income: $52,159
• Composite: 36.31/100
• National rank: #9395
• State rank: #111 of 183 in OR

Livability — Cornelius

• Score: 82/100
• State rank: #47
• US rank: #1193

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cornelius, OR
• Population (ZIP): 15,621

Population outlook (Washington County) Hauer SSP2

• Today (2025): 674,042 people
• By 2030: 721,804 · +7.1%
• By 2040: 812,732 · +20.6%
• By 2050: 895,143 · +32.8%
• By 2075: 1,058,806 · +57.1%
• By 2100: 1,131,692 · +67.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Hispanic / Latino 47% White 46% Two or more races 13% Native American 4% Asian 2%
• Hispanic origin (detail): Mexican 42%
• Common ancestry: Iranian 3% Italian 2% Portuguese 2%
• Foreign-born: 24% · Canada, China, Vietnam
• Languages at home: 55% English-only · Spanish 42% Other Indo-European 1% Chinese 1%

Political lean MEDSL · Washington

• 2024 margin: Solid D (+34.0) · D 65.3% · R 31.3% · Other 3.4%
• 2008→2024 swing: +11.8pp toward D · 2008: 22.1pp · 2024: 34.0pp
• All cycles: 2024: D+34.0 2020: D+34.6 2016: D+26.7 2012: D+17.5 2008: D+22.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -171.16%
• Current HPI: 285.7514
• Rent YoY: —
• Metro: —
• 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

+444.0% since first listed

9 events — show timeline

• 2026-05-04 Price Changed $148,500 RMLS
• 2026-03-19 Price Changed $168,500 RMLS
• 2025-12-09 Price Changed $179,900 RMLS
• 2025-11-07 Listed $193,700 RMLS
• 2025-02-21 Sold (MLS) $184,000 RMLS
• 2025-01-25 Pending — RMLS
• 2024-12-07 Listed $184,000 RMLS
• 1996-07-15 Sold (Public Records) $29,000 Public Records
• 1980-04-01 Sold (Public Records) $27,300 Public Records

Property tax history

+5.5%/yr

Latest (2025): $1,289 · +50.6% YoY. Source: county tax records.