15758 SE Highway 224 #120 · Damascus, OR 97089

$120,000

3 bd · 2.0 ba · 1,300 sqft · Other · 11 Days on market

Built 1981 $92/sqft · 6% above area Est $113k · 6% over

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +4.6/15.0
• Livability +3.5/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Accepted Offer with Contingencies. Discover easy living in this move-in ready 3-bed, 2-bath doublewide home, nestled in a quiet all ages park. Home features an updated kitchen w/stunning countertops & a stylish waterfall island, perfect for cooking & entertaining. An open-concept layout creates a seamless flow between the living, dining, & kitchen areas. Enjoy low-maintenance living w/comfortable outdoor space, covered deck, & a convenient storage shed. Located near everyday amenities. Space rent is $875/month and includes w/s/g.

Key facts

• Covered deck
• Storage shed
• Updated kitchen

Tags

• UPDATED KITCHEN
• WATERFALL ISLAND
• OPEN-CONCEPT LAYOUT
• COMFORTABLE OUTDOOR SPACE
• COVERED DECK
• STORAGE SHED

Property features AI

Finance

• Other: Lot size range listed as 0K to 2,999 SqFt; Parcel number 01219078
• HOA & community: Located in Riverview Mobile Home Park; Lot rent $875 per month

Exterior

• Parking: Carport
• Utilities: Electric fuel; Public water; Public sewer
• Home design: Manufactured home in a park; Residential property; Resale; Built in 1981; Main level living; Territorial view; Manufacturer: Skyline
• Construction: Composition roof; Concrete perimeter foundation
• Exterior features: Covered deck; Outbuilding; Tool shed; Yard; Paved road access; Lap siding

Interior

• Kitchen: Quartz countertops; Dishwasher; Disposal; Free-standing range; Microwave
• Bedrooms: Primary bedroom on main level; Second bedroom; Third bedroom
• Flooring: Laminate flooring
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Forced-air heating; Heat pump cooling; Electric hot water
• Interior features: One-level accessible layout; Laminate flooring; Vinyl window frames

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $120k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $120k).
• Cap rate 23.3% vs local median 2.6% in Damascus — 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 69/100 on livability (#150 in OR) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute 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: Verne A Duncan Elementary School (math 8% / reading 34%, grade F, #353 of 412 statewide, top 87%, 407 students, 32% FRL); Happy Valley Middle School (math 41% / reading 56%, grade C-, #29 of 128 statewide, top 22%, 1,021 students, 25% FRL); Adrienne C. Nelson High School (1,382 students, 24% FRL).
• Market conditions: 51 active listings in the ZIP; 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 $830 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 $34k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Recommended offer $120,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 2.57% ✓
• Cap rate: 23.34%
• Cash-on-cash: 60.89%
• DSCR: 3.71
• GRM: 3.2

CMA / ARV

• ARV (median comp): $112,730
• List price: $120,000
• Delta: 6.45%
• Verdict: FAIR
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 59.7%
• Equity multiple: 3.65×
• Total profit: $89,119
• Equity at exit: $17,892

10-year hold

• IRR: 64.4%
• Equity multiple: 7.47×
• Total profit: $217,356
• Equity at exit: $10,375

Cash invested: $33,600 (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 97089

• Active inventory: 51
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $3,081 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$50 /mo · $600/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$647
• Net cashflow: $1,705

Break-even live

Break-even rent $923

Max offer price $120,000

Occupancy floor 40%

Sensitivity live

Price	-10% $1,773	-5% $1,739	+0% $1,705	+5% $1,671	+10% $1,637
Rent	-10% $1,461	-5% $1,583	+0% $1,705	+5% $1,826	+10% $1,948
Rate	-1.0pp $1,765	-0.5pp $1,735	base $1,705	+0.5pp $1,674	+1.0pp $1,642

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-13
   status Pending 704-char remark

   Show marketing remark (551 chars)

   Accepted Offer with Contingencies. Discover easy living in this move-in ready 3-bed, 2-bath doublewide home, nestled in a quiet all ages park. Home features an updated kitchen w/stunning countertops & a stylish waterfall island, perfect for cooking & entertaining. An open-concept layout creates a seamless flow between the living, dining, & kitchen areas. Enjoy low-maintenance living w/comfortable outdoor space, covered deck, & a convenient storage shed. Located near everyday amenities. Space rent is $875/month and includes w/s/g.

2. 2026-05-13
   historical Active under Contract 551-char remark

   Show marketing remark (551 chars)

   Accepted Offer with Contingencies. Discover easy living in this move-in ready 3-bed, 2-bath doublewide home, nestled in a quiet all ages park. Home features an updated kitchen w/stunning countertops & a stylish waterfall island, perfect for cooking & entertaining. An open-concept layout creates a seamless flow between the living, dining, & kitchen areas. Enjoy low-maintenance living w/comfortable outdoor space, covered deck, & a convenient storage shed. Located near everyday amenities. Space rent is $875/month and includes w/s/g.

3. 2026-05-04
   listed $120,000 Active 551-char remark

   Show marketing remark (551 chars)

   Accepted Offer with Contingencies. Discover easy living in this move-in ready 3-bed, 2-bath doublewide home, nestled in a quiet all ages park. Home features an updated kitchen w/stunning countertops & a stylish waterfall island, perfect for cooking & entertaining. An open-concept layout creates a seamless flow between the living, dining, & kitchen areas. Enjoy low-maintenance living w/comfortable outdoor space, covered deck, & a convenient storage shed. Located near everyday amenities. Space rent is $875/month and includes w/s/g.

4. 2026-05-01
   listed $120,000 Active 704-char remark

ⓘ 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: $600 · $50/mo
• Projected year-2 tax: $1,164 · $97/mo
• Expected delta: +$564/yr (+$47/mo · 93.9%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 14 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,974
• − Mortgage interest: −$6,722
• − Property taxes: −$600
• − Insurance: −$600
• − Repairs & maintenance: −$2,958
• − Management: −$2,958
• − Depreciation: −$3,491
• Taxable income: $19,645
• Est. tax owed @ 24.0%: −$4,715
• After-tax cash flow: $15,743/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 — Damascus

• Score: 69/100
• State rank: #150
• US rank: #8770

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Damascus, OR
• City population: 14,906
• Population (ZIP): 14,906

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 (82%)
• Race & ethnicity: White 82% Hispanic / Latino 7% Asian 6% Two or more races 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 5% Portuguese 3% Italian 2%
• Foreign-born: 7% · Canada, Vietnam, China
• Languages at home: 90% English-only · Russian/Polish/Slavic 3% Spanish 3% Other Indo-European 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: ▼ -206.70%
• Current HPI: 274.0579
• 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

+0.0% since first listed

4 events — show timeline

• 2026-05-13 Pending — RMLS
• 2026-05-13 Contingent — WVMLS
• 2026-05-04 Listed $120,000 WVMLS
• 2026-05-01 Listed $120,000 RMLS

Property tax history

+4.7%/yr

Latest (2025): $600 · +6.1% YoY. Source: county tax records.