851 SW Sunset Way #28 · Troutdale, OR 97060

$110,000

2 bd · 2.0 ba · 1,248 sqft · Manufactured public records · 27 Days on market

Built 1993 Est $127k · 14% under

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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
• ARV discount +13.6/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.3/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully Updated Home with Incredible View from Enclosed Sun Room and Large Deck. Light & Bright with Lots of Windows, Newer Carpet, Laminate Flooring & Paint. Huge Kitchen with lots of Storage & Counter Space. Financing Available!

Key facts

• Views from sunroom
• Columbia river views
• Remodeled kitchen

Tags

• COLUMBIA RIVER VIEWS
• WASHINGTON FOOTHILLS VIEWS
• VIEWS FROM LIVING ROOM
• VIEWS FROM SUNROOM
• EXPANSIVE DECK
• REMODELED KITCHEN

Property features AI

Finance

• Other: Property listed as resale; main level area reported as 1,248 (county record); Located at 851 SW Sunset Way #28, Troutdale, OR in Columbia Heights park
• Financial info: Lot rent is charged monthly
• HOA & community: Park amenities include gated entry, grounds maintenance, management, trash service, water and sewer included; Pet policy: one pet allowed with management approval; Community features: resident playground, picnic area, bike and walking paths; located in Columbia Heights park

Exterior

• Parking: Carport (1 space); Driveway parking (total 1 parking space)
• Utilities: Public water; Public sewer; Electric service for fuel; Cable internet available
• Home design: Manufactured home in a park (residential); Single-story (one level); Main level living; No view reported
• Construction: Built in 1993; Composition roof; Skirting foundation
• Exterior features: Deck; Fenced yard; Porch; Tool shed; Yard; Lap siding

Interior

• Kitchen: Built-in range; Built-in refrigerator; Free-standing range; Free-standing refrigerator; Dishwasher; Kitchen island; Granite countertops; Skylight in the kitchen; Stainless steel appliances
• Bedrooms: Primary bedroom on the main level with vaulted ceiling, ceiling fan, walk-in closet and private bathroom; Second bedroom on the main level with double closet and vaulted ceiling
• Flooring: Laminate flooring throughout main living areas and bedrooms
• Bathrooms: Two full bathrooms, both on the main level; Primary bathroom includes a walk-in shower
• Heating & cooling: Forced air heating; Central air conditioning; Electric hot water
• Interior features: Ceiling fans; Granite surfaces; Laminate flooring; Laundry area; Vaulted ceilings; Double-pane windows with vinyl frames; Accessible features including main-floor bedroom with bath, one-level living, utility room on main, and walk-in shower
• Laundry & utility: Main-level utility room; Laundry hookups/area

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $110k.

Deal economics

• At list price, monthly cash flow is $695 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.9% vs local median 3.2% in Troutdale — 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 86/100 on livability (#17 in OR, #367 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: cost of living D-.
• 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: Troutdale Elementary School (361 students, 66% FRL); Walt Morey Middle School (565 students, 66% FRL); Reynolds High School (2,474 students, 67% FRL) — zoned schools at 66% FRL track the district average.
• Market conditions: Rents falling (-5.8%/yr); 71 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $761 of loan paydown is wiped out by about $3k 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 $31k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 16y 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 $35k; list at $110k implies a 214% gain — meaningful room to come down on a strong offer.

Recommended offer $108,350 (1.5% below list)

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: 1.68% ✓
• Cap rate: 13.88%
• Cash-on-cash: 27.10%
• DSCR: 2.21
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $127,296
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
735 SW Sunset Way	0.06mi	2/2.0	1,232 (-1%)	1mo	$91,500	$74	94
116 SE 8th St #21	0.40mi	3/2.0 (+1)	1,296 (+4%)	2mo	$120,000	$93	68
730 SW Sunset Way SW #77	0.06mi	3/2.0 (+1)	1,080 (-14%)	3mo	$143,000	$132	67
938 SW Brianne Cir	0.04mi	3/2.0 (+1)	1,377 (+10%)	17mo	$140,000	$102	62
874 SW Fox Pl	0.12mi	3/2.0 (+1)	1,344 (+8%)	18mo	$145,000	$108	61

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: 17.6%
• Equity multiple: 1.69×
• Total profit: $21,098
• Equity at exit: $16,401

10-year hold

• IRR: 23.9%
• Equity multiple: 2.77×
• Total profit: $54,654
• Equity at exit: $9,511

Cash invested: $30,800 (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 97060

• Rents YoY: -5.8%
• Active inventory: 71
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,843 high
• Mortgage (P&I): −$577
• Tax est. 1.5%: −$138 /mo · $1,650/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $695

Break-even live

Break-even rent $962

Max offer price $110,000

Occupancy floor 57%

Sensitivity live

Price	-10% $771	-5% $733	+0% $695	+5% $657	+10% $619
Rent	-10% $550	-5% $623	+0% $695	+5% $768	+10% $841
Rate	-1.0pp $751	-0.5pp $723	base $695	+0.5pp $667	+1.0pp $638

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
639 SW 257th Dr Troutdale, OR	1.0–3.0	1.0–2.0	1093	$1,741	$1.59	2d	6	0.11mi
673 SW Halsey Loop Troutdale, OR	1.0–3.0	1.0–2.0	977	$2,148	$2.20	2d	1	0.21mi
1206 SW 257th Dr Unit 1206 Troutdale, OR	1.0	1.0	980	$1,650	$1.68	24d	1	0.22mi
700 SW Halsey St Troutdale, OR	2.0	1.0–2.0	911	$1,550	$1.70	2d	5	0.24mi
530 SW Halsey Loop Troutdale, OR	2.0	1.5	960	$1,750	$1.82	2d	1	0.24mi
1323 SW Cherry Park Rd Troutdale, OR	1.0–2.0	1.0	716	$1,995	$2.79	2d	5	0.36mi
1675 SW Cherry Park Rd Troutdale, OR	3.0–4.0	2.5–3.0	1466	$2,695	$1.84	2d	3	0.46mi
2079 SW 257th Ave Troutdale, OR	2.0	2.0	985	$1,487	$1.51	2d	8	0.57mi
1098 SW Hensley Rd Unit 1098 Troutdale, OR	3.0	1.5	1098	$2,100	$1.91	4d	1	0.62mi
2350 SW 257th Ave Troutdale, OR	1.0–2.0	1.0–2.0	908	$1,787	$1.97	2d	4	0.68mi
1431-1433 SW 22nd St Unit SOB1433 Troutdale, OR	3.0	2.0	1200	$2,445	$2.04	11d	1	0.68mi
2530 SW Cherry Park Rd Unit G-151 Troutdale, OR	2.0	2.0	955	$1,895	$1.98	24d	1	0.90mi
2530 SW Cherry Park Rd Unit G-251 Troutdale, OR	2.0	2.0	955	$1,795	$1.88	20d	1	0.91mi
2530 SW Cherry Park Rd Unit G-350 Troutdale, OR	1.0	1.0	718	$1,695	$2.36	24d	1	0.91mi
2530 SW Cherry Park Rd Troutdale, OR	1.0–3.0	1.0–2.0	964	$2,072	$2.15	2d	4	0.94mi
2530 SW Cherry Park Rd Unit A-304 Troutdale, OR	2.0	2.0	955	$1,695	$1.77	24d	1	0.94mi
2530 SW Cherry Park Rd Unit E-234 Troutdale, OR	1.0	1.0	718	$1,695	$2.36	20d	1	0.98mi
2530 SW Cherry Park Rd Unit B-316 Troutdale, OR	1.0	1.0	718	$1,595	$2.22	24d	1	0.99mi
2855 SW Faith Ct Troutdale, OR	3.0	2.5	1467	$2,995	$2.04	44d	1	1.00mi
1330 SW 28th St Unit FEW1332 Troutdale, OR	2.0	2.0	1015	$1,895	$1.87	44d	1	1.00mi
23901 NE Halsey St Wood Village, OR	2.0–3.0	1.0–2.0	1012	$1,395	$1.38	15d	4	1.03mi
2935 SW Charity Ct Unit 2935 Troutdale, OR	2.0	2.0	1150	$1,980	$1.72	24d	1	1.05mi
3042 SW Laura Ct Unit 3044 Troutdale, OR	3.0	2.0	1020	$1,950	$1.91	44d	1	1.09mi
1303 NE 238th Dr Unit 1303 Wood Village, OR	2.0	1.0	833	$1,645	$1.97	24d	1	1.11mi
26719 SE Stark St Troutdale, OR	2.0	2.0	950	$1,350	$1.42	8d	3	1.13mi
3123 NE 29th St Gresham, OR	1.0–2.0	1.0	899	$1,675	$1.86	15d	4	1.23mi
3181 NE 23rd St Gresham, OR	1.0–3.0	1.0–2.0	1005	$1,932	$1.92	2d	22	1.40mi
22920 NE Halsey St Wood Village, OR	2.0	1.0	784	$1,500	$1.91	24d	1	1.49mi

Listing history 17 events

1. 2026-06-18
   days on market $110,000 Active 27 DOM
2. 2026-06-17
   days on market $110,000 Active 26 DOM
3. 2026-06-16
   days on market $110,000 Active 25 DOM
4. 2026-06-15
   days on market $110,000 Active 24 DOM
5. 2026-06-13
   days on market $110,000 Active 22 DOM
6. 2026-06-13
   days on market $110,000 Active 21 DOM
7. 2026-06-09
   days on market $110,000 Active 18 DOM
8. 2026-06-08
   days on market $110,000 Active 17 DOM
9. 2026-06-07
   days on market $110,000 Active 16 DOM
10. 2026-06-03
    days on market $110,000 Active 12 DOM
11. 2026-06-02
    days on market $110,000 Active 11 DOM
12. 2026-06-01
    days on market $110,000 Active 10 DOM
13. 2026-05-31
    days on market $110,000 Active 9 DOM
14. 2026-05-22
    listed $110,000 Active
15. 2010-11-05
    soldstatus $35,000 Sold 247-char remark

    Show marketing remark (247 chars)

    Beautifully Updated Home with Incredible View from Enclosed Sun Room and Large Deck. Light & Bright with Lots of Windows, Newer Carpet, Laminate Flooring & Paint. Huge Kitchen with lots of Storage & Counter Space. Financing Available!

16. 2010-10-29
    status Pending 247-char remark

    Show marketing remark (247 chars)

    Beautifully Updated Home with Incredible View from Enclosed Sun Room and Large Deck. Light & Bright with Lots of Windows, Newer Carpet, Laminate Flooring & Paint. Huge Kitchen with lots of Storage & Counter Space. Financing Available!

17. 2010-10-03
    listed $38,000 Active 247-char remark

    Show marketing remark (247 chars)

    Beautifully Updated Home with Incredible View from Enclosed Sun Room and Large Deck. Light & Bright with Lots of Windows, Newer Carpet, Laminate Flooring & Paint. Huge Kitchen with lots of Storage & Counter Space. Financing Available!

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 14 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,111
• − Mortgage interest: −$6,162
• − Property taxes: −$1,650
• − Insurance: −$550
• − Repairs & maintenance: −$1,769
• − Management: −$1,769
• − Depreciation: −$3,200
• Taxable income: $7,012
• Est. tax owed @ 24.0%: −$1,683
• After-tax cash flow: $6,663/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 — Troutdale

• Score: 86/100
• State rank: #17
• US rank: #367

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Troutdale, OR
• County: Multnomah County · 786,692 people
• City population: 21,649
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 21,649
• Household income: $88,279
• Rent vs Own: 31.9% rent · 68.1% own
• Severe rent burden: 612.0

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 0.56)
• Race & ethnicity: White 63% Hispanic / Latino 22% Two or more races 11% Asian 4% Native American 2% Black 2%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Scotch-Irish 2% Slovak 2% Italian 2%
• Foreign-born: 17% · Canada, Vietnam, China
• Languages at home: 73% English-only · Spanish 16% Other Indo-European 2% Other Asian/Pacific 2%

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: ▼ -230.60%
• Current HPI: 300.7577
• Rent YoY: ▼ -5.82%
• 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

+189.5% since first listed

4 events — show timeline

• 2026-05-22 Listed $110,000 RMLS
• 2010-11-05 Sold (MLS) $35,000 RMLS
• 2010-10-29 Pending — RMLS
• 2010-10-03 Listed $38,000 RMLS

Property tax history

-7.2%/yr

Latest (2025): $168 · +25.8% YoY. Source: county tax records.