37600 Sunset St #26 · Sandy, OR 97055

$79,000

2 bd · 2.0 ba · 1,148 sqft · Other · 238 Days on market

Built 1983 $69/sqft · 47% below area Est $149k · 47% under $830/mo HOA · 38% of rent

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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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

This home is a must see and bigger than it looks. This 2-bed, 2-bath home has a roomy kitchen, a cozy dining area, and a comfortable living room that's perfect for relaxing or entertaining. Enjoy the private yard, a great back deck for BBQs or morning coffee, and a handy tool shed for extra storage Washer, dryer, and refrigerator are all included-move-in ready and waiting for you!

Key facts

• Handy tool shed
• Private yard
• Back deck

Tags

• PRIVATE YARD
• BACK DECK
• HANDY TOOL SHED

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $79k.

Deal economics

• At list price, monthly cash flow is $414 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $79k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.6% 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 $546 of loan paydown is wiped out by about $2k 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 $22k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 238 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 18y ago; this cycle's ask has dropped $18k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $12k; list at $79k implies a 532% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 38% of rent.

Recommended offer $69,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 238 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 2.75% ✓
• Cap rate: 12.58%
• Cash-on-cash: 22.46%
• DSCR: 2.00
• GRM: 3.0

CMA / ARV

• ARV (median comp): $148,629
• List price: $79,000
• Delta: -46.85%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 15.7%
• Equity multiple: 1.64×
• Total profit: $14,067
• Equity at exit: $11,779

10-year hold

• IRR: 24.7%
• Equity multiple: 3.18×
• Total profit: $48,224
• Equity at exit: $6,830

Cash invested: $22,120 (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: 3.0×

Monthly cashflow live

• Estimated rent: $2,171 high
• Mortgage (P&I): −$414
• Tax from tax record: −$24 /mo · $282/yr
• Insurance: −$33
• HOA: −$830
• Vacancy / Maint / Mgmt: −$456
• Net cashflow: $414

Break-even live

Break-even rent $1,646

Max offer price $79,000

Occupancy floor 76%

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: $19,750
• Closing costs: $2,370
• 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	43d	1	0.16mi
38100 Sandy Heights St Sandy, OR	2.0	1.0–2.0	864	$2,070	$2.39	1d	11	0.48mi
36196 Skogan Rd Unit 1 Sandy, OR	2.0	2.0	1000	$1,995	$2.00	23d	1	0.52mi
18230 Seaman St Sandy, OR	3.0	1.0	1000	$2,400	$2.40	4d	1	0.66mi
18230 Seaman St Sandy, OR	3.0	1.0	1000	$2,400	$2.40	17d	1	0.66mi
18138 Seaman St Sandy, OR	3.0	2.0	1296	$2,495	$1.93	2d	1	0.71mi
38800 Creekside Loop Sandy, OR	2.0	2.0	1000	$1,695	$1.70	1d	1	0.78mi
38927 Cascadia Village Dr Sandy, OR	3.0	2.0	1250	$2,500	$2.00	43d	1	1.09mi
39560 Gary St Unit 24 Sandy, OR	2.0	1.0	850	$1,875	$2.21	7d	1	1.18mi
19040 Wallingford Ave Sandy, OR	3.0	2.0	1217	$2,650	$2.18	43d	1	1.30mi
39910 McCormick Dr Unit 39910 Sandy, OR	2.0	1.0	956	$1,950	$2.04	23d	1	1.31mi
39895 Evans St Sandy, OR	3.0	2.5	1215	$2,795	$2.30	7d	1	1.32mi

HOA detail

• Monthly dues: $830 · $9,960/yr

Listing history 19 events

1. 2026-06-18
   days on market $79,000 Active 238 DOM
2. 2026-06-17
   days on market $79,000 Active 237 DOM
3. 2026-06-16
   days on market $79,000 Active 236 DOM
4. 2026-06-15
   days on market $79,000 Active 235 DOM
5. 2026-06-13
   days on market $79,000 Active 233 DOM
6. 2026-06-13
   days on market $79,000 Active 232 DOM
7. 2026-06-09
   days on market $79,000 Active 229 DOM
8. 2026-06-08
   days on market $79,000 Active 228 DOM
9. 2026-06-07
   days on market $79,000 Active 227 DOM
10. 2026-06-03
    days on market $79,000 Active 223 DOM
11. 2026-06-02
    days on market $79,000 Active 222 DOM
12. 2026-06-01
    days on market $79,000 Active 221 DOM
13. 2026-05-31
    days on market $79,000 Active 220 DOM
14. 2026-05-18
    price $79,000 384-char remark

    Show marketing remark (384 chars)

    This home is a must see and bigger than it looks. This 2-bed, 2-bath home has a roomy kitchen, a cozy dining area, and a comfortable living room that's perfect for relaxing or entertaining. Enjoy the private yard, a great back deck for BBQs or morning coffee, and a handy tool shed for extra storage Washer, dryer, and refrigerator are all included-move-in ready and waiting for you!

15. 2025-12-03
    price $89,000 384-char remark

    Show marketing remark (384 chars)

    This home is a must see and bigger than it looks. This 2-bed, 2-bath home has a roomy kitchen, a cozy dining area, and a comfortable living room that's perfect for relaxing or entertaining. Enjoy the private yard, a great back deck for BBQs or morning coffee, and a handy tool shed for extra storage Washer, dryer, and refrigerator are all included-move-in ready and waiting for you!

16. 2025-10-23
    listed $97,000 Active 384-char remark

    Show marketing remark (384 chars)

    This home is a must see and bigger than it looks. This 2-bed, 2-bath home has a roomy kitchen, a cozy dining area, and a comfortable living room that's perfect for relaxing or entertaining. Enjoy the private yard, a great back deck for BBQs or morning coffee, and a handy tool shed for extra storage Washer, dryer, and refrigerator are all included-move-in ready and waiting for you!

17. 2008-09-29
    soldstatus $12,500 181-char remark

    Show marketing remark (181 chars)

    Super Nice Home with Newer Carpet, Vinyl Windows, Rubber Roof & Appliances. Home has Large Tip Out which enlarged the Living Room to18 x 13 and the Formal Dining Room to 9 x 7.

18. 2008-09-26
    historical 181-char remark

    Show marketing remark (181 chars)

    Super Nice Home with Newer Carpet, Vinyl Windows, Rubber Roof & Appliances. Home has Large Tip Out which enlarged the Living Room to18 x 13 and the Formal Dining Room to 9 x 7.

19. 2008-08-01
    listed $12,500 181-char remark

    Show marketing remark (181 chars)

    Super Nice Home with Newer Carpet, Vinyl Windows, Rubber Roof & Appliances. Home has Large Tip Out which enlarged the Living Room to18 x 13 and the Formal Dining Room to 9 x 7.

ⓘ 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: $282 · $24/mo
• Projected year-2 tax: $766 · $64/mo
• Expected delta: +$484/yr (+$40/mo · 171.6%)

ⓘ 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 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: $26,047
• − Mortgage interest: −$4,425
• − Property taxes: −$282
• − Insurance: −$395
• − Repairs & maintenance: −$2,084
• − Management: −$2,084
• − HOA: −$9,960
• − Depreciation: −$2,298
• Taxable income: $4,519
• Est. tax owed @ 24.0%: −$1,085
• After-tax cash flow: $3,884/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

+532.0% since first listed

6 events — show timeline

• 2026-05-18 Price Changed $79,000 RMLS
• 2025-12-03 Price Changed $89,000 RMLS
• 2025-10-23 Listed $97,000 RMLS
• 2008-09-29 Sold (MLS) $12,500 RMLS
• 2008-09-26 Delisted — RMLS
• 2008-08-01 Listed $12,500 RMLS

Property tax history

+1.8%/yr

Latest (2018): $282 · +3.0% YoY. Source: county tax records.