37600 Sunset St · Sandy, OR 97055

$157,000

3 bd · 2.0 ba · 1,194 sqft · Land · 83 Days on market

Built 1983 $131/sqft · 78% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Come check out this amazing hidden gem in Sandy! This recently remodeled home features new carpets, sinks, countertops, paint, appliances, flooring, and so much more! Move-in ready! Conveniently located by local shops, food, trails and more. Easy access to US-26 and OR-224. Don't miss your chance on this amazing home!

Key facts

• Recently remodeled
• New sinks
• New paint

Tags

• RECENTLY REMODELED
• NEW CARPETS
• NEW SINKS
• NEW COUNTERTOPS
• NEW PAINT
• NEW APPLIANCES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $157k.

Deal economics

• At list price, monthly cash flow is $771 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $157k).
• Recommended offer: $148k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.2% 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 $1k of loan paydown is wiped out by about $5k 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 $44k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y 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.

Recommended offer $147,580 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% 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 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?
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: 1.50% ✓
• Cap rate: 12.18%
• Cash-on-cash: 21.04%
• DSCR: 1.94
• GRM: 5.6

CMA / ARV

• ARV (median comp): $87,983
• List price: $157,000
• Delta: 78.44%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 13.5%
• Equity multiple: 1.54×
• Total profit: $23,675
• Equity at exit: $23,409

10-year hold

• IRR: 22.3%
• Equity multiple: 2.91×
• Total profit: $83,958
• Equity at exit: $13,574

Cash invested: $43,960 (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: 5.6×

Monthly cashflow live

• Estimated rent: $2,349 high
• Mortgage (P&I): −$823
• Tax est. 1.5%: −$196 /mo · $2,355/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$493
• Net cashflow: $771

Break-even live

Break-even rent $1,373

Max offer price $157,000

Occupancy floor 62%

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: $39,250
• Closing costs: $4,710
• 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	4d	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 27 events

1. 2026-06-18
   days on market $157,000 Active 83 DOM
2. 2026-06-17
   days on market $157,000 Active 82 DOM
3. 2026-06-16
   days on market $157,000 Active 81 DOM
4. 2026-06-15
   days on market $157,000 Active 80 DOM
5. 2026-06-13
   days on market $157,000 Active 78 DOM
6. 2026-06-13
   days on market $157,000 Active 77 DOM
7. 2026-06-09
   days on market $157,000 Active 74 DOM
8. 2026-06-08
   days on market $157,000 Active 73 DOM
9. 2026-06-07
   days on market $157,000 Active 72 DOM
10. 2026-06-03
    days on market $157,000 Active 68 DOM
11. 2026-06-02
    days on market $157,000 Active 67 DOM
12. 2026-06-01
    days on market $157,000 Active 66 DOM
13. 2026-05-31
    days on market $157,000 Active 65 DOM
14. 2026-03-27
    listed $157,000 Active 319-char remark

    Show marketing remark (319 chars)

    Come check out this amazing hidden gem in Sandy! This recently remodeled home features new carpets, sinks, countertops, paint, appliances, flooring, and so much more! Move-in ready! Conveniently located by local shops, food, trails and more. Easy access to US-26 and OR-224. Don't miss your chance on this amazing home!

15. 2023-08-31
    soldstatus $145,000 Closed 526-char remark

    Show marketing remark (526 chars)

    First time buyers HUGE opportunity! 2016 manufactured home with new roof in 2022. Large living room and kitchen combo, laundry area, large master suite with 2 additional bedrooms at other end of home for privacy. Hard to find fenced yard with great storage shed for all the tools and yard equipment. This home has "tie downs" approximately every 4 feet. 21st mortgage will do loans for manufactured home! Buyer must be approved by community prior to sale and no rentals in this community.HOME IS ON WILLS NUMBER 17.

16. 2023-08-24
    status Pending 526-char remark

    Show marketing remark (526 chars)

    First time buyers HUGE opportunity! 2016 manufactured home with new roof in 2022. Large living room and kitchen combo, laundry area, large master suite with 2 additional bedrooms at other end of home for privacy. Hard to find fenced yard with great storage shed for all the tools and yard equipment. This home has "tie downs" approximately every 4 feet. 21st mortgage will do loans for manufactured home! Buyer must be approved by community prior to sale and no rentals in this community.HOME IS ON WILLS NUMBER 17.

17. 2023-07-17
    historical Active Under Contract 526-char remark

    Show marketing remark (526 chars)

    First time buyers HUGE opportunity! 2016 manufactured home with new roof in 2022. Large living room and kitchen combo, laundry area, large master suite with 2 additional bedrooms at other end of home for privacy. Hard to find fenced yard with great storage shed for all the tools and yard equipment. This home has "tie downs" approximately every 4 feet. 21st mortgage will do loans for manufactured home! Buyer must be approved by community prior to sale and no rentals in this community.HOME IS ON WILLS NUMBER 17.

18. 2023-06-30
    price $150,000 526-char remark

    Show marketing remark (526 chars)

    First time buyers HUGE opportunity! 2016 manufactured home with new roof in 2022. Large living room and kitchen combo, laundry area, large master suite with 2 additional bedrooms at other end of home for privacy. Hard to find fenced yard with great storage shed for all the tools and yard equipment. This home has "tie downs" approximately every 4 feet. 21st mortgage will do loans for manufactured home! Buyer must be approved by community prior to sale and no rentals in this community.HOME IS ON WILLS NUMBER 17.

19. 2023-06-27
    price $177,300 526-char remark

    Show marketing remark (526 chars)

    First time buyers HUGE opportunity! 2016 manufactured home with new roof in 2022. Large living room and kitchen combo, laundry area, large master suite with 2 additional bedrooms at other end of home for privacy. Hard to find fenced yard with great storage shed for all the tools and yard equipment. This home has "tie downs" approximately every 4 feet. 21st mortgage will do loans for manufactured home! Buyer must be approved by community prior to sale and no rentals in this community.HOME IS ON WILLS NUMBER 17.

20. 2023-06-01
    price $189,500 526-char remark

    Show marketing remark (526 chars)

    First time buyers HUGE opportunity! 2016 manufactured home with new roof in 2022. Large living room and kitchen combo, laundry area, large master suite with 2 additional bedrooms at other end of home for privacy. Hard to find fenced yard with great storage shed for all the tools and yard equipment. This home has "tie downs" approximately every 4 feet. 21st mortgage will do loans for manufactured home! Buyer must be approved by community prior to sale and no rentals in this community.HOME IS ON WILLS NUMBER 17.

21. 2023-05-19
    listed $207,500 Active 526-char remark

    Show marketing remark (526 chars)

    First time buyers HUGE opportunity! 2016 manufactured home with new roof in 2022. Large living room and kitchen combo, laundry area, large master suite with 2 additional bedrooms at other end of home for privacy. Hard to find fenced yard with great storage shed for all the tools and yard equipment. This home has "tie downs" approximately every 4 feet. 21st mortgage will do loans for manufactured home! Buyer must be approved by community prior to sale and no rentals in this community.HOME IS ON WILLS NUMBER 17.

22. 2023-04-28
    soldstatus $145,000 Closed
23. 2023-03-26
    status Pending
24. 2023-03-23
    listed $145,000 Active
25. 2019-09-30
    soldstatus $74,900 Sold
26. 2019-09-14
    status Pending
27. 2019-09-12
    listed $74,900 Active

ⓘ 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: $28,186
• − Mortgage interest: −$8,794
• − Property taxes: −$2,355
• − Insurance: −$785
• − Repairs & maintenance: −$2,255
• − Management: −$2,255
• − Depreciation: −$4,567
• Taxable income: $7,175
• Est. tax owed @ 24.0%: −$1,722
• After-tax cash flow: $7,525/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

+109.6% since first listed

14 events — show timeline

• 2026-03-27 Listed $157,000 RMLS
• 2023-08-31 Sold (MLS) $145,000 RMLS
• 2023-08-24 Pending — RMLS
• 2023-07-17 Contingent — RMLS
• 2023-06-30 Price Changed $150,000 RMLS
• 2023-06-27 Price Changed $177,300 RMLS
• 2023-06-01 Price Changed $189,500 RMLS
• 2023-05-19 Listed $207,500 RMLS
• 2023-04-28 Sold (MLS) $145,000 RMLS
• 2023-03-26 Pending — RMLS
• 2023-03-23 Listed $145,000 RMLS
• 2019-09-30 Sold (MLS) $74,900 RMLS
• 2019-09-14 Pending — RMLS
• 2019-09-12 Listed $74,900 RMLS

Property tax history

+2.8%/yr

Latest (2025): $38,381 · +4.4% YoY. Source: county tax records.