3027 SE Belmont St · Portland, OR 97214

$479,999

3 bd · 1.5 ba · 1,812 sqft · SingleFamily public records · 71 Days on market

Built 1903 3,484 sqft lot $265/sqft · at area comps Est $659k · 27% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +9.7/30.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• 1% rule +2.9/10.0
• Rent growth +2.8/5.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 1903 Craftsman elevated above the street, blending timeless character with comfortable everyday living. A spacious, covered front porch welcomes you in. Inside, tall ceilings and abundant natural light create an airy, inviting feel throughout the 1,812 square feet of living space. The main level offers generous living and dining areas with great flow, along with a functional kitchen ready for your personal touch. Three bedrooms and one and a half bathrooms provide flexibility for everyday living, guests, or a home office. Period charm shines through, offering the perfect opportunity to preserve its historic appeal or thoughtfully update over time. Downstairs, the 709 square foot unfinished basement adds incredible potential—ideal for storage, a workshop, or ADU potential. Out back, enjoy a nicely sized yard with room to garden, entertain, or create your own private outdoor retreat. A rare opportunity to own a classic home ready for its next chapter!

Key facts

• Covered front porch
• Functional kitchen
• Tall ceilings

Tags

• COVERED FRONT PORCH
• TALL CEILINGS
• ABUNDANT NATURAL LIGHT
• GENEROUS LIVING AREAS
• FUNCTIONAL KITCHEN
• NICELY SIZED YARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $480k.

Deal economics

• At list price, monthly cash flow is $-372 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $414k (13.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $380k (20.9% below list).
• Recommended offer: $380k (20.9% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 2.2% in Portland — 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 77/100 on livability (#72 in OR, #3,256 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: crime F, cost of living F.
• Portland SD 1J (urban): math 46% / reading 58% proficiency, ranked #23 of 183 in OR (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Richmond Elementary School (539 students, 5% FRL); Da Vinci Middle School (434 students, 34% FRL); Franklin High School (1,966 students, 37% FRL).
• Market conditions: Rents rising (+1.3%/yr); 126 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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).
• At $3,795/mo this rent would consume 52% of the median local household income ($87k/yr) (locally 1946% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k 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.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($451k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 26y ago; this cycle's ask has dropped $70k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $226k; list at $480k implies a 112% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1903 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $379,507 (20.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Built in 1903 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.79% ✗
• Cap rate: 5.50%
• Cash-on-cash: -2.82%
• DSCR: 0.87
• GRM: 10.5

CMA / ARV

• ARV (median comp): $658,747
• List price: $479,999
• Delta: -27.13%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2604 SE Washington St	0.27mi	2/1.0 (-1)	1,833 (+1%)	2mo	$535,000	$292	77
3504 SE Alder St	0.29mi	3/1.0	1,716 (-5%)	1mo	$622,500	$363	75
2805 SE Grant St	0.67mi	3/1.0	1,825 (+1%)	3mo	$567,000	$311	63
1204 SE 34th Ave	0.29mi	2/2.0 (-1)	1,592 (-12%)	0mo	$712,900	$448	59
648 SE 20th Ave	0.55mi	3/1.0	1,953 (+8%)	1mo	$500,000	$256	59
2115 SE 26th Ave	0.69mi	4/2.0 (+1)	1,798 (-1%)	1mo	$850,000	$473	58
3632 SE Washington St	0.39mi	2/1.0 (-1)	1,958 (+8%)	6mo	$605,000	$309	56
3851 SE Morrison St	0.52mi	3/1.0	1,948 (+8%)	6mo	$625,000	$321	56
624 SE 36th Ave	0.36mi	3/2.0	1,588 (-12%)	8mo	$535,000	$337	54
3740 SE Main St	0.49mi	3/2.0	1,612 (-11%)	3mo	$650,000	$403	54
2023 SE Pine St	0.61mi	3/2.0	2,045 (+13%)	1mo	$760,000	$372	47
1615 SE 20th Ave	0.67mi	2/3.0 (-1)	1,994 (+10%)	7mo	$815,000	$409	36

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 · 1.31% rent growth · sell at horizon

5-year hold

• IRR: -23.8%
• Equity multiple: 0.20×
• Total profit: $-107,723
• Equity at exit: $71,569

10-year hold

• IRR: -24.2%
• Equity multiple: -0.11×
• Total profit: $-149,110
• Equity at exit: $41,502

Cash invested: $134,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State Oregon: 28 Tenant-Leaning · D+6
• County: — inherits STATE
• City Portland: 0 Strongly Tenant-Friendly · D+39

Mandatory relocation for no-cause evictions; rent increase notice 90 days.

Methodology + full state rankings →

ZIP-level market 97214

• Rents YoY: 1.3%
• Active inventory: 126
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $3,795 high
• Mortgage (P&I): −$2,517
• Tax from tax record: −$597 /mo · $7,167/yr
• Insurance: −$200
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$797
• Net cashflow: $-372

Break-even live

Break-even rent $4,266

Max offer price $414,305

Occupancy floor —

Sensitivity live

Price	-10% $-100	-5% $-236	+0% $-372	+5% $-508	+10% $-644
Rent	-10% $-672	-5% $-522	+0% $-372	+5% $-222	+10% $-72
Rate	-1.0pp $-130	-0.5pp $-250	base $-372	+0.5pp $-496	+1.0pp $-623

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: $120,000
• Closing costs: $14,400
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
915 SE 29th Ave Unit 1309869P Portland, OR	3.0	2.0	1399	$8,187	$5.85	25d	1	0.13mi
3523 SE Alder St Portland, OR	4.0	2.5	2200	$4,600	$2.09	15d	1	0.31mi
3736 SE Belmont St Portland, OR	3.0	1.0	1440	$3,149	$2.19	45d	1	0.44mi
3820 SE Belmont St Unit 1309865P Portland, OR	4.0	2.0	1679	$11,567	$6.89	45d	1	0.49mi
1937 SE Stark St Unit 2 Portland, OR	3.0	2.0	1400	$3,145	$2.25	25d	1	0.60mi
502 NE 29th Ave Unit 1309818P Portland, OR	3.0	1.0	2012	$5,376	$2.67	9d	1	0.67mi
1902 E Burnside St Portland, OR	3.0	2.0	2000	$3,300	$1.65	45d	1	0.72mi
514 SE 42nd Ave Portland, OR	3.0	2.0	2176	$6,500	$2.99	9d	1	0.72mi
1626 SE Belmont St Portland, OR	2.0	1.0	1276	$2,345	$1.84	45d	1	0.73mi
348 NE 20th Ave Portland, OR	3.0	2.0	1800	$6,000	$3.33	45d	1	0.81mi
3025 SE Division St Portland, OR	2.0	2.5	1392	$2,695	$1.94	23d	1	0.83mi
875 NE 27th Ave Portland, OR	3.0	1.0–2.0	1462	$4,900	$3.35	0d	14	0.86mi
1420 SE 44th Ave Portland, OR	4.0	2.0	1818	$5,500	$3.03	25d	1	0.89mi
1327 SE Pine St Unit A Portland, OR	4.0	1.5	2000	$3,480	$1.74	45d	1	0.92mi
80 NE 14th Ave Portland, OR	2.0	1.0–2.0	854	$2,701	$3.16	0d	15	0.94mi
1749 SE 46th Ave Portland, OR	4.0	2.0	1800	$3,795	$2.11	19d	1	1.02mi
975 SE 11th Ave Portland, OR	2.0	1.0–2.0	884	$3,161	$3.57	0d	30	1.03mi
2257 SE 43rd Ave Portland, OR	3.0	1.0	1468	$2,745	$1.87	18d	1	1.04mi
4004 SE Division St Unit 1309873P Portland, OR	4.0	2.0	2411	$6,476	$2.69	3d	1	1.06mi
26 NE 11th Ave Unit 1309845P Portland, OR	3.0	2.0	2411	$6,580	$2.73	0d	1	1.08mi
3005 SE 25th Ave Portland, OR	4.0	2.0	1700	$3,200	$1.88	19d	1	1.15mi
3556 NE Sandy Blvd Portland, OR	3.0	2.5	1700	$2,995	$1.76	9d	1	1.16mi
5506 NE Hoyt St Unit A Portland, OR	4.0	2.0	1352	$4,995	$3.69	19d	1	1.47mi

Listing history 21 events

1. 2026-06-21
   days on market $479,999 Active 71 DOM
2. 2026-06-18
   days on market $479,999 Active 68 DOM
3. 2026-06-18
   price $479,999 Active 67 DOM
4. 2026-06-17
   days on market $499,999 Active 67 DOM
5. 2026-06-16
   days on market $499,999 Active 66 DOM
6. 2026-06-15
   days on market $499,999 Active 65 DOM
7. 2026-06-13
   days on market $499,999 Active 63 DOM
8. 2026-06-09
   days on market $499,999 Active 59 DOM
9. 2026-06-08
   days on market $499,999 Active 58 DOM
10. 2026-06-07
    days on market $499,999 Active 57 DOM
11. 2026-06-03
    days on market $499,999 Active 53 DOM
12. 2026-06-02
    days on market $499,999 Active 52 DOM
13. 2026-06-01
    days on market $499,999 Active 51 DOM
14. 2026-05-31
    days on market $499,999 Active 50 DOM
15. 2026-05-01
    price $529,900 978-char remark

    Show marketing remark (978 chars)

    Charming 1903 Craftsman elevated above the street, blending timeless character with comfortable everyday living. A spacious, covered front porch welcomes you in. Inside, tall ceilings and abundant natural light create an airy, inviting feel throughout the 1,812 square feet of living space. The main level offers generous living and dining areas with great flow, along with a functional kitchen ready for your personal touch. Three bedrooms and one and a half bathrooms provide flexibility for everyday living, guests, or a home office. Period charm shines through, offering the perfect opportunity to preserve its historic appeal or thoughtfully update over time. Downstairs, the 709 square foot unfinished basement adds incredible potential—ideal for storage, a workshop, or ADU potential. Out back, enjoy a nicely sized yard with room to garden, entertain, or create your own private outdoor retreat. A rare opportunity to own a classic home ready for its next chapter!

16. 2026-04-11
    listed $549,900 Active 978-char remark

    Show marketing remark (978 chars)

    Charming 1903 Craftsman elevated above the street, blending timeless character with comfortable everyday living. A spacious, covered front porch welcomes you in. Inside, tall ceilings and abundant natural light create an airy, inviting feel throughout the 1,812 square feet of living space. The main level offers generous living and dining areas with great flow, along with a functional kitchen ready for your personal touch. Three bedrooms and one and a half bathrooms provide flexibility for everyday living, guests, or a home office. Period charm shines through, offering the perfect opportunity to preserve its historic appeal or thoughtfully update over time. Downstairs, the 709 square foot unfinished basement adds incredible potential—ideal for storage, a workshop, or ADU potential. Out back, enjoy a nicely sized yard with room to garden, entertain, or create your own private outdoor retreat. A rare opportunity to own a classic home ready for its next chapter!

17. 2000-10-30
    soldstatus $226,500 186-char remark

    Show marketing remark (186 chars)

    ELELEGANT ARTS & CRAFTS REMODEL. HARDWOODS, WAINSCOTING, PICTURE MOLDINGS WITH TOTALLY UPDATED KITCHEN, BATHS, PLUMBING, ELECTRICAL ROOF AND MORE. COME SEE THIS BEAUTFUL RESTORATION.

18. 2000-07-14
    soldstatus $225,000
19. 2000-05-30
    listed $229,900 186-char remark

    Show marketing remark (186 chars)

    ELELEGANT ARTS & CRAFTS REMODEL. HARDWOODS, WAINSCOTING, PICTURE MOLDINGS WITH TOTALLY UPDATED KITCHEN, BATHS, PLUMBING, ELECTRICAL ROOF AND MORE. COME SEE THIS BEAUTFUL RESTORATION.

20. 1999-08-19
    soldstatus $105,000
21. 1998-11-10
    soldstatus $45,000

ⓘ 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: $7,167 · $597/mo
• Projected year-2 tax: $7,167 · $597/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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 19 unhealthy d/yr today · 21 by 30 yrs out

Taxation est. · year 1

• Rental income: $45,541
• − Mortgage interest: −$26,887
• − Property taxes: −$7,167
• − Insurance: −$3,066
• − Repairs & maintenance: −$3,643
• − Management: −$3,643
• − Depreciation: −$13,964
• Taxable loss: −$12,831
• Est. tax savings @ 24.0%: +$3,079
• After-tax cash flow: $-1,383/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: Portland SD 1J
• NCES district ID: 4110040
• Math proficiency: 46% ▼ -2.00%
• Reading proficiency: 58% ▼ -3.00%
• Median HH income: $57,851
• Composite: 47.1/100
• National rank: #5112
• State rank: #23 of 183 in OR

Livability — Portland

• Score: 77/100
• State rank: #72
• US rank: #3256

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Portland, OR
• County: Multnomah County · 786,692 people
• City population: 774,334
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 27,714
• Household income: $87,131
• Rent vs Own: 66.1% rent · 33.9% own
• Severe rent burden: 1946.0

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: Predominantly White (78%)
• Race & ethnicity: White 78% Two or more races 11% Hispanic / Latino 9% Asian 4% Black 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Italian 5% Slovak 4% Lithuanian 3%
• Foreign-born: 6% · Canada, China, South Korea
• Languages at home: 93% English-only · Spanish 2% Other Indo-European 1% Chinese 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: ▼ -604.86%
• Current HPI: 326.4709
• Rent YoY: ▲ 1.31%
• 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

+1077.6% since first listed

7 events — show timeline

• 2026-05-01 Price Changed $529,900 RMLS
• 2026-04-11 Listed $549,900 RMLS
• 2000-10-30 Sold (MLS) $226,500 RMLS
• 2000-07-14 Sold (Public Records) $225,000 Public Records
• 2000-05-30 Listed $229,900 RMLS
• 1999-08-19 Sold (Public Records) $105,000 Public Records
• 1998-11-10 Sold (Public Records) $45,000 Public Records

Property tax history

+4.4%/yr

Latest (2025): $7,167 · +3.7% YoY. Source: county tax records.