24800 NW St Helens Rd Unit L10 · Portland, OR 97231

$175,000

1 bd · 1.0 ba · 792 sqft · SingleFamily · 221 Days on market

Built 1967 Good condition $221/sqft · 44% below area Est $314k · 44% under $1054/mo HOA · 50% of rent ↓ 6% since listing

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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
• 1% rule +7.0/10.0
• Schools +5.2/10.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• Cash flow +2.5/30.0
• Rent growth +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

This is a very well maintained one bedroom, one bathroom floating house with a walk-in pantry, a washer, and dryer, a walk-in closet in the bedroom, and a sliding glass door that opens onto a deck with a view of the Multnomah Channel and Sauvie Island. Cozy up to the gas fireplace in the cooler months, and enjoy the scenery through the wall of windows. Salmon run up the Multnomah Channel in the Spring. It is not uncommon for people to catch crappie, bass, walleye, and sturgeon on the Channel, also. It’s a great place for boating and paddling. It’s not far from the trails in Forest Park, and it’s just down the mountain from a mountain bike park.

Key facts

• Gas fireplace
• Deck with a view
• Sliding glass door

Tags

• WALK-IN PANTRY
• SLIDING GLASS DOOR
• DECK WITH A VIEW
• GAS FIREPLACE
• WALL OF WINDOWS
• OUTDOOR MINI WORKSHOP

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $175k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-604 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $88k (49.9% below list).
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $88k (49.9% below list) — sets the bar for cash-flow.

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.
• Scappoose SD 1J (town): math 37% / reading 51% proficiency, ranked #69 of 183 in OR (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Grant Watts Elementary School (reading 54%, 346 students, 38% FRL); Scappoose Middle School (math 30% / reading 75%, grade C+, #24 of 128 statewide, top 18%, 313 students, 28% FRL); Scappoose High School (656 students, 24% FRL) — zoned schools at 30% FRL track the district average.
• Market conditions: 119 active listings in the ZIP; high-income renter base; 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 $1k of loan paydown is wiped out by about $5k 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 221 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 50% of rent.

Recommended offer $87,624 (49.9% 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 221 days. Have you received any prior offers? Is the seller open to a 50% concession, seller financing, or rate buy-down credit?
3. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.20% ✓
• Cap rate: 2.15%
• Cash-on-cash: -14.79%
• DSCR: 0.34
• GRM: 6.9

CMA / ARV

• ARV (median comp): $314,114
• List price: $175,000
• Delta: -44.29%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
25000 NW St Helens Rd Unit N-3	0.29mi	2/1.0 (+1)	792 (0%)	39mo	$337,000	$426	62
24800 NW Saint Helens Rd Unit L02	0.17mi	2/1.0 (+1)	820 (+4%)	44mo	$300,000	$366	61
34326 Johnsons Landing Rd	1.98mi	1/1.0	824 (+4%)	12mo	$195,000	$237	48
23586 NW St. Helens Rd Unit U76	0.19mi	2/1.0 (+1)	1,012 (+28%)	29mo	$315,000	$311	41
34326 Johnsons Landing Rd Unit B8	2.03mi	1/1.0	824 (+4%)	32mo	$260,000	$316	38
34326 Johnsons Landing Rd Unit B7	1.98mi	2/1.0 (+1)	875 (+10%)	8mo	$325,000	$371	36
25200 NW Saint Helens Rd #22	0.42mi	2/1.0 (+1)	700 (-12%)	28mo	$40,000	$57	36
34326 Johnsons Landing Rd Unit E2	2.05mi	2/2.0 (+1)	966 (+22%)	1mo	$325,000	$336	30
50350 Cowens Rd Unit 1A	1.78mi	1/1.0	884 (+12%)	20mo	$162,500	$184	29
34326 Johnsons Landing Rd Unit B4	2.03mi	1/1.0	560 (-29%)	26mo	$140,000	$250	20
34326 Johnsons Landing Rd Unit C25	1.98mi	2/2.0 (+1)	964 (+22%)	19mo	$165,000	$171	15
34326 Johnson Landing Rd Unit C-2	2.05mi	2/1.0 (+1)	671 (-15%)	41mo	$146,000	$218	15

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -43.7%
• Equity multiple: -0.35×
• Total profit: $-66,136
• Equity at exit: $26,093

10-year hold

• IRR: -71.7%
• Equity multiple: -1.13×
• Total profit: $-104,352
• Equity at exit: $15,131

Cash invested: $49,000 (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 →

Active competition Active MLS

• For sale now: 6 active
• Median asking: $154,450 ($214/sqft)
• Median days on market: 98 d
• This list price: 67% of active listings are priced below it
• ARV vs active asking: +85.7% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 97231

• Home prices YoY: -31.9%
• Active inventory: 119
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,101 medium
• Mortgage (P&I): −$918
• Tax est. 1.5%: −$219 /mo · $2,625/yr
• Insurance: −$73
• HOA: −$1,054
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $-604

Break-even live

Break-even rent $2,865

Max offer price $87,624

Occupancy floor —

Sensitivity live

Price	-10% $-483	-5% $-543	+0% $-604	+5% $-664	+10% $-725
Rent	-10% $-770	-5% $-687	+0% $-604	+5% $-521	+10% $-438
Rate	-1.0pp $-516	-0.5pp $-559	base $-604	+0.5pp $-649	+1.0pp $-695

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: $43,750
• Closing costs: $5,250
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Finance

• Other: Floating home slip L10 is included (deep water, outside); slip is rented monthlySlip rent paid monthly
• HOA & community: Marina association amenities include gated entry, sewer, trash, and waterMonthly moorage/association fee of $1,054

Exterior

• Parking: Off-street secured parking
• Utilities: Electricity and propane availablePrivate water from wellCommunity sewerUtilities accessible: electricity, gas, heat, sewer, trash collection, water
• Home design: Residential floating home (floating on log and stringer)Single-story/main level livingMountain and river viewsResale condition
• Construction: Built in 1967Other foundation type
• Exterior features: Metal roofDeckTool shedT-111 sidingRiverfront location on the Multnomah ChannelLot is level and in a flood zonePaved road access

Interior

• Kitchen: Kitchen on main level with eat bar and peninsulaPantry
• Bedrooms: Primary bedroom on main level with walk-in closet
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Gas stove heatingWall heaterWall cooling unit(s)
• Interior features: Ceiling fansWasher and dryer includedOne propane fireplaceDouble-pane windows
• Laundry & utility: Washer and dryer

HOA detail $1,054/mo · $12,648/yr

• Likely covers: gas

Listing history 50 events

1. 2026-11-08
   days on market $175,000 Active 221 DOM
2. 2026-11-07
   days on market $175,000 Active 220 DOM
3. 2026-11-06
   days on market $175,000 Active 219 DOM
4. 2026-11-05
   days on market $175,000 Active 218 DOM
5. 2026-11-04
   days on market $175,000 Active 217 DOM
6. 2026-11-02
   days on market $175,000 Active 215 DOM
7. 2026-11-01
   days on market $175,000 Active 214 DOM
8. 2026-10-31
   days on market $175,000 Active 213 DOM
9. 2026-10-30
   days on market $175,000 Active 212 DOM
10. 2026-10-29
    days on market $175,000 Active 211 DOM
11. 2026-10-28
    days on market $175,000 Active 210 DOM
12. 2026-10-27
    days on market $175,000 Active 209 DOM
13. 2026-10-26
    days on market $175,000 Active 208 DOM
14. 2026-10-26
    days on market $175,000 Active 207 DOM
15. 2026-10-24
    days on market $175,000 Active 206 DOM
16. 2026-10-23
    days on market $175,000 Active 205 DOM
17. 2026-10-22
    days on market $175,000 Active 204 DOM
18. 2026-10-21
    days on market $175,000 Active 203 DOM
19. 2026-10-20
    days on market $175,000 Active 202 DOM
20. 2026-10-19
    days on market $175,000 Active 201 DOM
21. 2026-10-18
    days on market $175,000 Active 200 DOM
22. 2026-10-17
    days on market $175,000 Active 199 DOM
23. 2026-10-16
    days on market $175,000 Active 198 DOM
24. 2026-10-15
    days on market $175,000 Active 197 DOM
25. 2026-10-14
    days on market $175,000 Active 196 DOM
26. 2026-10-13
    days on market $175,000 Active 195 DOM
27. 2026-10-12
    days on market $175,000 Active 194 DOM
28. 2026-10-11
    days on market $175,000 Active 193 DOM
29. 2026-10-10
    days on market $175,000 Active 192 DOM
30. 2026-10-09
    days on market $175,000 Active 191 DOM
31. 2026-10-08
    days on market $175,000 Active 190 DOM
32. 2026-10-07
    days on market $175,000 Active 189 DOM
33. 2026-10-06
    days on market $175,000 Active 188 DOM
34. 2026-10-05
    days on market $175,000 Active 187 DOM
35. 2026-10-04
    days on market $175,000 Active 186 DOM
36. 2026-10-04
    days on market $175,000 Active 185 DOM
37. 2026-10-02
    days on market $175,000 Active 184 DOM
38. 2026-10-01
    days on market $175,000 Active 183 DOM
39. 2026-09-30
    days on market $175,000 Active 182 DOM
40. 2026-09-29
    days on market $175,000 Active 181 DOM
41. 2026-09-28
    days on market $175,000 Active 180 DOM
42. 2026-09-27
    days on market $175,000 Active 179 DOM
43. 2026-09-25
    days on market $175,000 Active 177 DOM
44. 2026-09-24
    days on market $175,000 Active 176 DOM
45. 2026-09-23
    days on market $175,000 Active 175 DOM
46. 2026-09-22
    pricedays on market $175,000 Active 174 DOM
47. 2026-09-21
    days on market $195,000 Active 173 DOM
48. 2026-09-20
    days on market $195,000 Active 172 DOM
49. 2026-09-19
    days on market $195,000 Active 171 DOM
50. 2026-09-18
    days on market $195,000 Active 170 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $25,208
• − Mortgage interest: −$9,803
• − Property taxes: −$2,625
• − Insurance: −$875
• − Repairs & maintenance: −$2,017
• − Management: −$2,017
• − HOA: −$12,648
• − Depreciation: −$5,091
• Taxable loss: −$9,867
• Est. tax savings @ 24.0%: +$2,368
• After-tax cash flow: $-4,878/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.

Condition & rehab AI · 14 photos

Good 75/100 Cosmetic rehab Est. rehab $3,960–$11,880 screening

This well-maintained floating home offers a cozy living space with a good condition and a good location. It has a good potential for value increase with minor updates.

Value-add opportunities

• Both Painting the exterior siding and updating the deck furniture — Enhances curb appeal and adds value for both resale and rental. ↑
• Resale Upgrading the kitchen appliances — Modern appliances can attract more buyers and renters. ↑
• Resale Updating the bathroom fixtures — Fresh, modern fixtures can improve the home's appeal and value. ↑
• Both Landscaping improvements — A well-maintained garden and outdoor space can enhance the home's curb appeal and attract more buyers and renters. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 52/100

Zoned Schools

Elementary Grant Watts Elementary School Middle Scappoose Middle School C+ OR #24/128 Nat'l #2,954/14,009 High Scappoose High School

Schools (NCES district)

• District: Scappoose SD 1J
• NCES district ID: 4110980
• Math proficiency: 37% ▼ -2.00%
• Reading proficiency: 51% ▼ -8.00%
• Median HH income: $61,899
• Composite: 41.18/100
• National rank: #7411
• State rank: #69 of 183 in OR

B Composite livability gradescore 77/100

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

• County: Multnomah · 930,825 people
• City population: 774,334
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 4,304
• Household income: $122,063
• Rent vs Own: 12.7% rent · 87.3% own
• Severe rent burden: 14% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Two or more races 9% Hispanic / Latino 8% Asian 7%
• Hispanic origin (detail): Mexican 2% Salvadoran 2%
• Languages at home: 90% English-only · Spanish 5% French/Haitian/Cajun 2% Other Indo-European 2%

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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: ▼ -120.95%
• Current HPI: 257.6546
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.05%
• F500 in state: 2

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Industry mix (Fortune 500 HQ in OR)

Industry	F500 HQs	Revenue
▸Consumer Goods	1	$51B

Property features AI

Finance

• Other: Floating home slip L10 is included (deep water, outside); slip is rented monthlySlip rent paid monthly
• HOA & community: Marina association amenities include gated entry, sewer, trash, and waterMonthly moorage/association fee of $1,054

Exterior

• Parking: Off-street secured parking
• Utilities: Electricity and propane availablePrivate water from wellCommunity sewerUtilities accessible: electricity, gas, heat, sewer, trash collection, water
• Home design: Residential floating home (floating on log and stringer)Single-story/main level livingMountain and river viewsResale condition
• Construction: Built in 1967Other foundation type
• Exterior features: Metal roofDeckTool shedT-111 sidingRiverfront location on the Multnomah ChannelLot is level and in a flood zonePaved road access

Interior

• Kitchen: Kitchen on main level with eat bar and peninsulaPantry
• Bedrooms: Primary bedroom on main level with walk-in closet
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Gas stove heatingWall heaterWall cooling unit(s)
• Interior features: Ceiling fansWasher and dryer includedOne propane fireplaceDouble-pane windows
• Laundry & utility: Washer and dryer

Price history

-6.4% since first listed

2 events — show timeline

• 2026-05-05 Price Changed $220,000 RMLS
• 2026-04-01 Listed $235,000 RMLS