2600 NE 205th Ave #31 · Fairview, OR 97024

$135,000

2 bd · 2.0 ba · 1,100 sqft · Manufactured public records · 45 Days on market

Built 1996 $123/sqft · 67% above area

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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
• DSCR +10.0/10.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Clean home and property, but in need of many repairs. View of Camas hills from LR and back yard. Lg Fenced, private yard. Private, gated lot. Wheel chair accessible entry ramp. 2nd BA unfinished and needs your custom finishing. Great room floor plan. Cash only. Please respect owner's privacy and do not pull in and park in carport or neighbors carport or walk property without an agent during a scheduled showing.

Key facts

• Cul-de-sac street
• New flooring
• New gutters

Tags

• CUL-DE-SAC STREET
• TERRITORIAL VIEWS
• COMPLETE ROOF REPLACEMENT
• NEW GUTTERS
• FRESH INTERIOR PAINT
• NEW FLOORING

Property features AI

Finance

• Other: Property is a resale; Main level area approximately 1,100 (assessor)
• Financial info: Monthly lot rent ($1,000)
• HOA & community: Community management provided; Located in a senior community (Silent Creek)

Exterior

• Parking: Carport; Driveway
• Utilities: Electric hot water and electric fuel; Public water; Public sewer
• Home design: Manufactured home located in a park (Fleetwood); Single-level; Mountain views
• Construction: Built in 1996; Pillar/post/pier foundation with skirting
• Exterior features: Fenced yard; Plywood exterior description; Composition roof; Lot on a cul-de-sac and level terrain; Paved road access

Interior

• Kitchen: Dishwasher; Microwave; Free-standing range; Free-standing refrigerator; Solid surface countertops; Stainless steel appliances
• Bedrooms: Primary bedroom on the main level with ensuite bath and walk-in closet; Second bedroom on the main level with closet
• Flooring: Vinyl flooring; Luxury vinyl plank
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Forced-air heating; No central cooling
• Interior features: Main-floor living with minimal steps and accessibility features; Laundry area with washer/dryer hookups; Luxury vinyl plank flooring throughout; Double-pane windows with vinyl frames; Crawl space basement
• Laundry & utility: Washer and dryer included / laundry area

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $135k.

Deal economics

• At list price, monthly cash flow is $537 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.1% vs local median 2.8% in Fairview — 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 75/100 on livability (#85 in OR, #4,103 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A-; Watch: cost of living D, amenities F.
• Reynolds SD 7 (suburban): math 21% / reading 36% proficiency, ranked #162 of 183 in OR (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Salish Ponds Elementary School (314 students, 99% FRL); Reynolds Middle School (837 students, 98% FRL); Reynolds High School (2,474 students, 67% FRL) — zoned schools average 88% FRL vs 66% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-1.0%/yr); 54 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $933 of loan paydown is wiped out by about $4k 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 + 0.0% rent growth), your $38k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $42k; list at $135k implies a 221% gain — meaningful room to come down on a strong offer.

Recommended offer $130,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 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 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?
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: 1.25% ✓
• Cap rate: 11.06%
• Cash-on-cash: 17.03%
• DSCR: 1.76
• GRM: 6.7

CMA / ARV

• ARV (median comp): $81,033
• List price: $135,000
• Delta: 66.60%
• Verdict: OVERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20140 NE Sandy Blvd #103	0.12mi	3/2.0 (+1)	1,100 (0%)	3mo	$100,000	$91	87
21100 NE Sandy Blvd #76	0.40mi	2/2.0	1,120 (+2%)	5mo	$67,900	$61	74
21100 NE Sandy Blvd #72	0.34mi	3/2.0 (+1)	1,104 (+0%)	8mo	$109,000	$99	72
21100 NE Sandy Blvd #39	0.35mi	2/2.0	1,224 (+11%)	2mo	$75,000	$61	63
21100 NE Sandy Blvd #77	0.40mi	2/2.0	1,010 (-8%)	10mo	$86,200	$85	59
21100 NE Sandy Blvd #2	0.28mi	2/2.0	1,236 (+12%)	10mo	$49,000	$40	58
2500 NE 201st Ave #47	0.15mi	2/1.0	1,001 (-9%)	21mo	$65,000	$65	56
2500 NE 201st Ave	0.19mi	2/1.0	1,001 (-9%)	21mo	$65,000	$65	54
21100 NE Sandy Blvd	0.34mi	2/2.0	1,248 (+14%)	11mo	$90,000	$72	53

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 5.1%
• Equity multiple: 1.19×
• Total profit: $7,305
• Equity at exit: $20,129

10-year hold

• IRR: 11.9%
• Equity multiple: 1.82×
• Total profit: $31,061
• Equity at exit: $11,672

Cash invested: $37,800 (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 97024

• Home prices YoY: -20.3%
• Rents YoY: -1.0%
• Active inventory: 54
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,683 high
• Mortgage (P&I): −$708
• Tax from tax record: −$28 /mo · $342/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $537

Break-even live

Break-even rent $1,003

Max offer price $135,000

Occupancy floor 63%

Sensitivity live

Price	-10% $613	-5% $575	+0% $537	+5% $498	+10% $460
Rent	-10% $404	-5% $470	+0% $537	+5% $603	+10% $669
Rate	-1.0pp $605	-0.5pp $571	base $537	+0.5pp $502	+1.0pp $466

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2655 NE 205th Ave Fairview, OR	1.0	1.0	728	$1,460	$2.01	16d	1	0.05mi
2667 NE 205th Ave Fairview, OR	3.0	2.0	1115	$1,950	$1.75	25d	1	0.07mi
20454 NE Sandy Blvd Fairview, OR	2.0	2.0	950	$1,450	$1.53	5d	4	0.11mi
20454 NE Sandy Blvd Apt B26 Fairview, OR	2.0	2.0	950	$1,722	$1.81	22d	7	0.13mi
20347 NE Halsey St Fairview, OR	2.0	2.0	985	$1,614	$1.64	5d	2	0.53mi
1559 NE 201st Ave Fairview, OR	2.0	1.0	860	$1,475	$1.72	45d	1	0.62mi
1559 NE 201st Ave Unit 104 Fairview, OR	2.0	1.0	860	$1,475	$1.72	25d	1	0.62mi
19927 NE Halsey St Unit 103 Portland, OR	3.0	2.5	1225	$1,895	$1.55	45d	1	0.65mi
19849 NE Halsey St Unit 123 Portland, OR	2.0	1.0	768	$1,295	$1.69	45d	1	0.66mi
19849 NE Halsey St Unit 110 Portland, OR	3.0	2.0	895	$1,870	$2.09	19d	1	0.66mi
19849 NE Halsey St Unit 115 Portland, OR	2.0	1.0	768	$1,360	$1.77	25d	1	0.67mi
22199 NE Sandy Blvd Fairview, OR	2.0	1.0–2.0	707	$2,200	$3.11	5d	27	0.73mi
609 Lincoln St Unit 609 Fairview, OR	3.0	2.5	1100	$2,250	$2.05	45d	1	0.75mi
19511 NE Halsey St Portland, OR	2.0	1.0	917	$1,395	$1.52	5d	1	0.76mi
1650 NE Market Dr Fairview, OR	1.0–2.0	1.0	741	$1,895	$2.56	3d	3	0.79mi
21929 NE Halsey St Unit 201 Fairview, OR	1.0	1.0	700	$1,595	$2.28	45d	1	0.86mi
320 Lincoln St Fairview, OR	2.0	1.0	950	$1,395	$1.47	45d	1	0.87mi
22100 NE Halsey St Fairview, OR	1.0–3.0	1.0–2.0	1003	$1,947	$1.94	5d	10	0.90mi
230 Lincoln St Fairview, OR	2.0	1.5	864	$1,595	$1.85	19d	1	0.90mi
1497 NE Market Dr Fairview, OR	2.0	2.0	1136	$1,750	$1.54	45d	1	0.91mi
21933 NE Chinook Way Fairview, OR	1.0–3.0	1.0–2.5	874	$1,802	$2.06	3d	8	0.91mi
230 Lincoln St Apt 116 Fairview, OR	2.0	1.5	864	$1,595	$1.85	23d	1	0.92mi
22025 NE Halsey St Fairview, OR	1.0–2.0	1.0–2.0	841	$1,795	$2.13	12d	1	0.94mi
21958 NE Chinook Way Apt C Fairview, OR	1.0	1.0	950	$1,250	$1.32	45d	1	0.96mi
22032 NE Chinook Way Apt A Fairview, OR	2.0	2.5	1150	$1,995	$1.73	45d	1	1.01mi
22032 NE Chinook Way Unit B Fairview, OR	2.0	2.5	1150	$2,045	$1.78	9d	1	1.01mi
22620 NE Hancock St Fairview, OR	2.0	2.0	1196	$1,995	$1.67	23d	1	1.07mi
20220 NE Glisan St Portland, OR	1.0–2.0	1.0	767	$1,595	$2.08	5d	2	1.09mi
22701 NE Halsey St Unit FO222 Fairview, OR	2.0	2.0	965	$1,511	$1.57	45d	1	1.18mi
22701 NE Halsey St Unit FO182 Fairview, OR	2.0	1.0	820	$1,458	$1.78	45d	1	1.18mi
22701 NE Halsey St Unit FO221 Fairview, OR	2.0	2.0	820	$1,458	$1.78	45d	1	1.18mi
22701 NE Halsey St Unit FO1101 Fairview, OR	2.0	2.0	965	$1,511	$1.57	25d	1	1.18mi
1348 NE 186th Ave Portland, OR	2.0	1.0	853	$1,395	$1.64	14d	1	1.23mi
22920 NE Halsey St Wood Village, OR	2.0	1.0	784	$1,500	$1.91	25d	1	1.26mi
1210 NE 181st Ave Portland, OR	2.0	1.5	945	$1,250	$1.32	45d	1	1.41mi
19316 NE Couch St Portland, OR	3.0	2.0	1325	$2,495	$1.88	0d	1	1.43mi
1136 NE 181st Ave Portland, OR	1.0–2.0	1.0	762	$1,475	$1.93	9d	2	1.44mi
20121 SE Stark St Portland, OR	1.0–3.0	1.0–2.0	873	$1,714	$1.96	4d	5	1.46mi
1311 NE 181st Ave Portland, OR	1.0	1.0	950	$1,000	$1.05	45d	1	1.46mi
17838 NE Multnomah Dr Unit 16 Portland, OR	2.0	1.0	950	$1,200	$1.26	6d	1	1.48mi

Listing history 21 events

1. 2026-06-21
   days on market $135,000 Active 45 DOM
2. 2026-06-18
   days on market $135,000 Active 42 DOM
3. 2026-06-17
   days on market $135,000 Active 41 DOM
4. 2026-06-16
   days on market $135,000 Active 40 DOM
5. 2026-06-15
   days on market $135,000 Active 39 DOM
6. 2026-06-13
   days on market $135,000 Active 37 DOM
7. 2026-06-13
   days on market $135,000 Active 36 DOM
8. 2026-06-09
   days on market $135,000 Active 33 DOM
9. 2026-06-08
   days on market $135,000 Active 32 DOM
10. 2026-06-07
    days on market $135,000 Active 31 DOM
11. 2026-06-03
    days on market $135,000 Active 27 DOM
12. 2026-06-02
    days on market $135,000 Active 26 DOM
13. 2026-06-01
    days on market $135,000 Active 25 DOM
14. 2026-05-31
    days on market $135,000 Active 24 DOM
15. 2026-05-07
    listed $135,000 Active 1283-char remark
16. 2018-09-10
    soldstatus $42,000 Sold 414-char remark

    Show marketing remark (414 chars)

    Clean home and property, but in need of many repairs. View of Camas hills from LR and back yard. Lg Fenced, private yard. Private, gated lot. Wheel chair accessible entry ramp. 2nd BA unfinished and needs your custom finishing. Great room floor plan. Cash only. Please respect owner's privacy and do not pull in and park in carport or neighbors carport or walk property without an agent during a scheduled showing.

17. 2018-09-02
    status Pending 414-char remark

    Show marketing remark (414 chars)

    Clean home and property, but in need of many repairs. View of Camas hills from LR and back yard. Lg Fenced, private yard. Private, gated lot. Wheel chair accessible entry ramp. 2nd BA unfinished and needs your custom finishing. Great room floor plan. Cash only. Please respect owner's privacy and do not pull in and park in carport or neighbors carport or walk property without an agent during a scheduled showing.

18. 2018-08-29
    price $44,995 414-char remark

    Show marketing remark (414 chars)

    Clean home and property, but in need of many repairs. View of Camas hills from LR and back yard. Lg Fenced, private yard. Private, gated lot. Wheel chair accessible entry ramp. 2nd BA unfinished and needs your custom finishing. Great room floor plan. Cash only. Please respect owner's privacy and do not pull in and park in carport or neighbors carport or walk property without an agent during a scheduled showing.

19. 2018-08-29
    status Active 414-char remark

    Show marketing remark (414 chars)

    Clean home and property, but in need of many repairs. View of Camas hills from LR and back yard. Lg Fenced, private yard. Private, gated lot. Wheel chair accessible entry ramp. 2nd BA unfinished and needs your custom finishing. Great room floor plan. Cash only. Please respect owner's privacy and do not pull in and park in carport or neighbors carport or walk property without an agent during a scheduled showing.

20. 2018-08-24
    status Pending 414-char remark

    Show marketing remark (414 chars)

    Clean home and property, but in need of many repairs. View of Camas hills from LR and back yard. Lg Fenced, private yard. Private, gated lot. Wheel chair accessible entry ramp. 2nd BA unfinished and needs your custom finishing. Great room floor plan. Cash only. Please respect owner's privacy and do not pull in and park in carport or neighbors carport or walk property without an agent during a scheduled showing.

21. 2018-08-14
    listed $49,985 Active 414-char remark

    Show marketing remark (414 chars)

    Clean home and property, but in need of many repairs. View of Camas hills from LR and back yard. Lg Fenced, private yard. Private, gated lot. Wheel chair accessible entry ramp. 2nd BA unfinished and needs your custom finishing. Great room floor plan. Cash only. Please respect owner's privacy and do not pull in and park in carport or neighbors carport or walk property without an agent during a scheduled showing.

ⓘ 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: $342 · $28/mo
• Projected year-2 tax: $1,310 · $109/mo
• Expected delta: +$968/yr (+$81/mo · 282.9%)

ⓘ 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 ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 23 unhealthy d/yr today · 27 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,191
• − Mortgage interest: −$7,562
• − Property taxes: −$342
• − Insurance: −$675
• − Repairs & maintenance: −$1,615
• − Management: −$1,615
• − Depreciation: −$3,927
• Taxable income: $4,454
• Est. tax owed @ 24.0%: −$1,069
• After-tax cash flow: $5,370/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: Reynolds SD 7
• NCES district ID: 4110520
• Math proficiency: 21% ▬ 0.00%
• Reading proficiency: 36% ▬ 0.00%
• Median HH income: $45,502
• Composite: 27.4/100
• National rank: #12399
• State rank: #162 of 183 in OR

Livability — Fairview

• Score: 75/100
• State rank: #85
• US rank: #4103

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fairview, OR
• County: Multnomah County · 786,692 people
• City population: 12,007
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 12,007
• Household income: $69,679
• Rent vs Own: 53.9% rent · 46.1% own
• Severe rent burden: 552.0

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 0.68)
• Race & ethnicity: White 48% Hispanic / Latino 27% Two or more races 15% Black 12% Pacific Islander 3% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 24%
• Common ancestry: Portuguese 3% Italian 3% Lithuanian 3%
• Foreign-born: 16% · Canada, Guatemala, Vietnam
• Languages at home: 69% English-only · Spanish 23% Other Asian/Pacific 3% Russian/Polish/Slavic 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: —

Market trends

• HPI YoY: ▼ -72.88%
• Current HPI: 286.4915
• Rent YoY: ▼ -0.99%
• 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

+170.1% since first listed

7 events — show timeline

• 2026-05-07 Listed $135,000 RMLS
• 2018-09-10 Sold (MLS) $42,000 RMLS
• 2018-09-02 Pending — RMLS
• 2018-08-29 Price Changed $44,995 RMLS
• 2018-08-29 Relisted — RMLS
• 2018-08-24 Pending — RMLS
• 2018-08-14 Listed $49,985 RMLS

Property tax history

-3.0%/yr

Latest (2016): $342 · -29.8% YoY. Source: county tax records.