17188 SW Eldorado Dr #111 · King City, OR 97224

$39,999

3 bd · 2.0 ba · 1,248 sqft · Manufactured public records · 5 Days on market

Built 1974 $32/sqft · 48% below area Est $76k · 48% under

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Why this score? — see what drove the C- 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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.9/10.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to comfortable, easy living in Eldorado Villas, a sought-after 55+ community designed for connection, convenience, and an active lifestyle. Filled with natural light and warm, inviting spaces, this well-maintained manufactured home offers 2 bedrooms, a spacious living room, dedicated dining area, and a thoughtfully designed kitchen with a functional layout that makes everyday living and entertaining feel effortless. Large windows throughout bring in beautiful natural light, creating an airy and welcoming feel from the moment you step inside. The spacious primary suite offers not only double closets, an ensuite bathroom but a special connection to the outdoors with sliding glass

Key facts

• Covered front porch
• Community amenities
• Natural light

Tags

• NATURAL LIGHT
• THOUGHTFULLY DESIGNED KITCHEN
• GORGEOUS LANDSCAPED BACKYARD
• MATURE PLANTINGS
• COVERED FRONT PORCH
• COMMUNITY AMENITIES

Property features AI

Finance

• Other: Property is a resale; Located in a park (manufactured home space)
• Financial info: Monthly lot rent (listed)
• HOA & community: Community amenities include gym, library, maintained grounds, management, meeting/party rooms, pool and recreation facilities

Exterior

• Parking: Carport (1 space)
• Utilities: Public water; Public sewer; Gas fuel
• Home design: Manufactured home in a park (residential, detached); One-level living; Built in 1974; No notable view; Main living area approximately 1,248
• Construction: Metal siding; Composition roof; Built in 1974
• Exterior features: Covered patio; Fenced yard; Garden; Yard; Level lot

Interior

• Kitchen: Built-in oven; Built-in range; Dishwasher; Disposal; Free-standing refrigerator; Pantry
• Bedrooms: Primary bedroom on main level with ensuite and double closet; Second bedroom on main level with closet
• Flooring: Wall-to-wall carpet throughout main living areas and bedrooms
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Forced air heating (gas hot water); Central air conditioning
• Interior features: Wall-to-wall carpet; Accessible (minimal steps, one level)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $40k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Cap rate 46.2% vs local median 2.7% in King City — 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 85/100 on livability (#24 in OR, #539 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, housing A+.
• Tigard-Tualatin SD 23J (suburban): math 47% / reading 65% proficiency, ranked #6 of 58 in OR (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Deer Creek Elementary School (565 students, 32% FRL); Twality Middle School (math 54% / reading 64%, grade B, #17 of 128 statewide, top 14%, 918 students, 31% FRL); Tualatin High School (math 75% / reading 75%, grade A-, #2 of 143 statewide, top 6%, 1,747 students, 25% FRL) — zoned schools at 29% FRL track the district average.
• Market conditions: Rents soft (-0.4%/yr); 412 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,224 units permitted in Washington County in 2024 (242 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $276 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Washington 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 $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $32k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $39,999

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 5.03% ✓
• Cap rate: 46.17%
• Cash-on-cash: 142.41%
• DSCR: 7.34
• GRM: 1.7

CMA / ARV

• ARV (median comp): $76,358
• List price: $39,999
• Delta: -47.62%
• 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
17188 SW Eldorado Dr #111	0.00mi	2/2.0 (-1)	1,248 (0%)	1mo	$32,500	$26	94
17151 SW Eldorado Dr #85	0.09mi	2/2.0 (-1)	1,344 (+8%)	3mo	$62,000	$46	76
17041 SW Eldorado Dr	0.13mi	2/2.0 (-1)	1,152 (-8%)	3mo	$81,500	$71	74
18485 SW Pacific Dr #37	0.43mi	3/2.0	1,296 (+4%)	0mo	$85,000	$66	73
17009 SW Eldorado Dr #5	0.19mi	2/2.0 (-1)	1,152 (-8%)	1mo	$60,000	$52	72
17084 SW Eldorado Dr	0.14mi	2/2.0 (-1)	1,152 (-8%)	7mo	$42,000	$36	70
12450 SW Fischer Rd #277	0.23mi	2/2.0 (-1)	1,344 (+8%)	7mo	$55,000	$41	66
18485 SW Pacific Dr #92	0.52mi	3/2.0	1,284 (+3%)	8mo	$107,500	$84	64
11768 SW Royal Villa Dr #124	0.64mi	2/2.0 (-1)	1,248 (0%)	2mo	$28,000	$22	64
18485 SW Pacific Dr #69	0.50mi	2/2.0 (-1)	1,104 (-12%)	1mo	$68,000	$62	52
18485 SW Pacific Dr #74	0.50mi	3/2.0	1,404 (+12%)	6mo	$82,590	$59	51
11656 SW Royal Villa Dr #71	0.73mi	3/2.0	1,344 (+8%)	6mo	$42,500	$32	48

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: —
• Equity multiple: 7.46×
• Total profit: $72,302
• Equity at exit: $5,964

10-year hold

• IRR: —
• Equity multiple: 14.33×
• Total profit: $149,279
• Equity at exit: $3,458

Cash invested: $11,200 (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 97224

• Rents YoY: -0.4%
• Active inventory: 412
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $2,010 high
• Mortgage (P&I): −$210
• Tax from tax record: −$32 /mo · $388/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $1,329

Break-even live

Break-even rent $328

Max offer price $39,999

Occupancy floor 29%

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17865 SW Pacific Hwy Tualatin, OR	1.0–3.0	1.0–2.0	970	$2,242	$2.31	1d	13	0.23mi
16849 SW 131st Ave Portland, OR	2.0	2.0	1029	$1,950	$1.90	14d	1	0.35mi
12070 SW Fischer Rd Portland, OR	1.0–3.0	1.0–2.0	925	$2,099	$2.27	1d	9	0.41mi
13060 SW Dickson St Portland, OR	2.0	2.0	1108	$1,850	$1.67	43d	1	0.45mi
16444 SW 130th Ter King City, OR	2.0	2.0	1002	$1,695	$1.69	43d	1	0.48mi
11865 SW Tualatin Rd Tualatin, OR	2.0–3.0	2.0–2.5	1154	$2,737	$2.37	1d	19	0.50mi
17000 SW Pacific Hwy Portland, OR	1.0–2.0	1.0–2.0	684	$1,575	$2.30	43d	3	0.55mi
10900 SW Gaarde St Portland, OR	2.0	1.0	825	$1,525	$1.85	7d	4	0.55mi
10900 SW Gaarde St Unit 273-16 Tigard, OR	2.0	1.0	900	$1,575	$1.75	23d	1	0.55mi
17979 SW 115th Ave Unit 6 Tualatin, OR	2.0	1.5	1064	$1,625	$1.53	23d	1	0.58mi
17987 SW 115th Ave Unit 1 Tualatin, OR	2.0	1.0	900	$1,475	$1.64	23d	1	0.63mi
17989 SW 115th Ave Tualatin, OR	2.0	1.0–1.5	982	$1,550	$1.58	23d	2	0.65mi
13830 SW Chinn Ln Portland, OR	1.0–3.0	1.0–2.0	839	$2,100	$2.50	3d	11	0.91mi
14495 SW Beef Bend Rd Portland, OR	1.0–2.0	1.0–2.0	845	$1,925	$2.28	4d	12	1.01mi
16055 SW 108th Ave Tigard, OR	1.0–2.0	1.0–2.0	852	$1,940	$2.28	7d	9	1.20mi
11773 SW King George Dr King City, OR	1.0–2.0	1.0–2.0	826	$2,500	$3.03	11d	7	1.20mi
11390 SW Naeve St Tigard, OR	1.0–2.0	1.0–2.0	893	$2,119	$2.37	3d	5	1.39mi
11545 SW Beef Bend Rd Portland, OR	2.0	2.0	935	$1,514	$1.62	2d	1	1.40mi
15199 SW Royalty Pkwy Portland, OR	1.0–3.0	1.0–2.0	884	$2,205	$2.49	1d	12	1.44mi

Listing history 3 events

1. 2026-05-17
   status Pending 1535-char remark
2. 2026-05-12
   listed $39,999 Active 1535-char remark
3. 1996-04-20
   soldstatus $22,000

ⓘ 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: $388 · $32/mo
• Projected year-2 tax: $388 · $32/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 12 unhealthy d/yr today · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,120
• − Mortgage interest: −$2,241
• − Property taxes: −$388
• − Insurance: −$200
• − Repairs & maintenance: −$1,930
• − Management: −$1,930
• − Depreciation: −$1,164
• Taxable income: $16,269
• Est. tax owed @ 24.0%: −$3,904
• After-tax cash flow: $12,045/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: Tigard-Tualatin SD 23J
• NCES district ID: 4112240
• Math proficiency: 47% ▼ -3.00%
• Reading proficiency: 65% ▲ 3.00%
• Median HH income: $60,739
• Composite: 48.72/100
• National rank: #2100
• State rank: #6 of 58 in OR

Livability — King City

• Score: 85/100
• State rank: #24
• US rank: #539

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Washington County · 583,254 people
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 36,569
• Household income: $98,125
• Rent vs Own: 30.0% rent · 70.0% own
• Severe rent burden: 1468.0

Population outlook (Washington County) Hauer SSP2

• Today (2025): 674,042 people
• By 2030: 721,804 · +7.1%
• By 2040: 812,732 · +20.6%
• By 2050: 895,143 · +32.8%
• By 2075: 1,058,806 · +57.1%
• By 2100: 1,131,692 · +67.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 10% Two or more races 8% Asian 8% Black 3%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 4% Lithuanian 4% Slovak 3%
• Foreign-born: 13% · Canada, Vietnam, China
• Languages at home: 83% English-only · Spanish 7% Other Indo-European 3% Vietnamese 2%

Political lean MEDSL · Washington

• 2024 margin: Solid D (+34.0) · D 65.3% · R 31.3% · Other 3.4%
• 2008→2024 swing: +11.8pp toward D · 2008: 22.1pp · 2024: 34.0pp
• All cycles: 2024: D+34.0 2020: D+34.6 2016: D+26.7 2012: D+17.5 2008: D+22.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -287.40%
• Current HPI: 277.57
• Rent YoY: ▼ -0.38%
• 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

+47.7% since first listed

4 events — show timeline

• 2026-05-29 Sold (MLS) $32,500 RMLS
• 2026-05-17 Pending — RMLS
• 2026-05-12 Listed $39,999 RMLS
• 1996-04-20 Sold (Public Records) $22,000 Public Records

Property tax history

+6.0%/yr

Latest (2016): $388 · +6366.7% YoY. Source: county tax records.