2681 SE River Rd · Hillsboro, OR 97123

$59,900

2 bd · 1.0 ba · 3,400 sqft · Land public records · 220 Days on market

Built 1971 $18/sqft · 59% below area

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.4/5.0
• Schools +3.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Updated 2 bed 1 bath home in the 55+ River Rd Mobile Estates community. This home offers a bump out living room and a covered patio. All appliances are included in the purchase. The kitchen is spacious and remodeled with bamboo floors and new waterproof laminate flooring throughout the rest of the home. Additional features include a ramp to the front door, a 2 car carport, and 3 storage sheds. The home has a newer roof and exterior paint, a new central AC heat pump for cooling, and new energy efficient double pane vinyl windows. The exterior offers a lattice enclosed covered deck and beautiful plantings and garden beds throughout the property.

Key facts

• 2 car carport
• Bump out living room
• Spacious kitchen

Tags

• BUMP OUT LIVING ROOM
• COVERED PATIO
• SPACIOUS KITCHEN
• REMODELED KITCHEN
• 2 CAR CARPORT
• 3 STORAGE SHEDS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath land listed at $60k.

Deal economics

• At list price, monthly cash flow is $2k ($28k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 53.8% vs local median 2.9% in Hillsboro — 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 87/100 on livability (#13 in OR, #282 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: crime D+, cost of living F.
• Hillsboro SD 1J (urban): math 35% / reading 46% proficiency, ranked #13 of 58 in OR (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-1.4%/yr); 425 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 2,224 units permitted in Washington County in 2024 (242 in 5+ unit buildings).
• This rent runs 38% of the median local income ($110k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k 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 $17k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 220 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask has dropped $10k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $52,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 220 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Crime grade is D 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?
6. 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?
7. 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.
8. 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.
9. 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: 5.89% ✓
• Cap rate: 53.80%
• Cash-on-cash: 169.65%
• DSCR: 8.55
• GRM: 1.4

CMA / ARV

• ARV (median comp): $34,134
• List price: $59,900
• Delta: 75.48%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.81×
• Total profit: $131,036
• Equity at exit: $8,931

10-year hold

• IRR: —
• Equity multiple: 17.03×
• Total profit: $268,856
• Equity at exit: $5,179

Cash invested: $16,772 (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 97123

• Rents YoY: -1.4%
• Active inventory: 425
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $3,525 medium
• Mortgage (P&I): −$314
• Tax est. 1.5%: −$75 /mo · $898/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$740
• Net cashflow: $2,371

Break-even live

Break-even rent $524

Max offer price $59,900

Occupancy floor 28%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3740 SE Willamette Ave Unit 1018319P Hillsboro, OR	3.0	2.5	2389	$6,587	$2.76	13d	1	0.90mi
2047 SE 48th Ave Hillsboro, OR	3.0	2.5	2340	$2,795	$1.19	24d	1	1.00mi

Listing history 25 events

1. 2026-06-18
   days on market $59,900 Active 220 DOM
2. 2026-06-17
   days on market $59,900 Active 219 DOM
3. 2026-06-16
   days on market $59,900 Active 218 DOM
4. 2026-06-15
   days on market $59,900 Active 217 DOM
5. 2026-06-13
   days on market $59,900 Active 215 DOM
6. 2026-06-09
   days on market $59,900 Active 211 DOM
7. 2026-06-08
   days on market $59,900 Active 210 DOM
8. 2026-06-07
   remarks 699-char remark
9. 2026-06-07
   days on market $59,900 Active 209 DOM
10. 2026-06-05
    days on market $59,900 Active 206 DOM
11. 2026-06-03
    days on market $59,900 Active 205 DOM
12. 2026-06-02
    pricedays on market $59,900 Active 204 DOM
13. 2026-06-01
    days on market $65,000 Active 203 DOM
14. 2026-05-31
    days on market $65,000 Active 202 DOM
15. 2026-05-11
    price $65,000 651-char remark

    Show marketing remark (651 chars)

    Updated 2 bed 1 bath home in the 55+ River Rd Mobile Estates community. This home offers a bump out living room and a covered patio. All appliances are included in the purchase. The kitchen is spacious and remodeled with bamboo floors and new waterproof laminate flooring throughout the rest of the home. Additional features include a ramp to the front door, a 2 car carport, and 3 storage sheds. The home has a newer roof and exterior paint, a new central AC heat pump for cooling, and new energy efficient double pane vinyl windows. The exterior offers a lattice enclosed covered deck and beautiful plantings and garden beds throughout the property.

16. 2026-05-02
    price $79,900 1067-char remark

    Show marketing remark (1067 chars)

    Ready to retire the “I’ll get to it next weekend” list? This bright, updated double-wide is here to steal your toolbox and give you your Saturdays back. With new flooring, fresh paint inside and out, and a kitchen that finally looks like it belongs in this decade (plus a brand-new dishwasher doing the thankless work), the big stuff is already handled. Both bathrooms have been fully refreshed with clean finishes and a little spa-energy, because you deserve at least one room that feels put together at all times. Out front, a brand-new porch is waiting for morning coffee, evening unwinds, and casual neighbor hellos. Need storage for hobbies, seasonal décor, or your “I swear I’ll organize this” bins? The spacious shed has you covered. Set in a friendly 55+ community with park rent at $940/month, this one keeps life simple and maintenance minimal. Small pets are welcome, and service animals always are. Bonus points: a new furnace and updated plumbing, because peace of mind isn’t a “nice to have.”

17. 2026-04-27
    price $69,000 651-char remark

    Show marketing remark (651 chars)

    Updated 2 bed 1 bath home in the 55+ River Rd Mobile Estates community. This home offers a bump out living room and a covered patio. All appliances are included in the purchase. The kitchen is spacious and remodeled with bamboo floors and new waterproof laminate flooring throughout the rest of the home. Additional features include a ramp to the front door, a 2 car carport, and 3 storage sheds. The home has a newer roof and exterior paint, a new central AC heat pump for cooling, and new energy efficient double pane vinyl windows. The exterior offers a lattice enclosed covered deck and beautiful plantings and garden beds throughout the property.

18. 2026-04-14
    status Active 1067-char remark

    Show marketing remark (1067 chars)

    Ready to retire the “I’ll get to it next weekend” list? This bright, updated double-wide is here to steal your toolbox and give you your Saturdays back. With new flooring, fresh paint inside and out, and a kitchen that finally looks like it belongs in this decade (plus a brand-new dishwasher doing the thankless work), the big stuff is already handled. Both bathrooms have been fully refreshed with clean finishes and a little spa-energy, because you deserve at least one room that feels put together at all times. Out front, a brand-new porch is waiting for morning coffee, evening unwinds, and casual neighbor hellos. Need storage for hobbies, seasonal décor, or your “I swear I’ll organize this” bins? The spacious shed has you covered. Set in a friendly 55+ community with park rent at $940/month, this one keeps life simple and maintenance minimal. Small pets are welcome, and service animals always are. Bonus points: a new furnace and updated plumbing, because peace of mind isn’t a “nice to have.”

19. 2026-02-21
    status Active 1067-char remark

    Show marketing remark (1067 chars)

    Ready to retire the “I’ll get to it next weekend” list? This bright, updated double-wide is here to steal your toolbox and give you your Saturdays back. With new flooring, fresh paint inside and out, and a kitchen that finally looks like it belongs in this decade (plus a brand-new dishwasher doing the thankless work), the big stuff is already handled. Both bathrooms have been fully refreshed with clean finishes and a little spa-energy, because you deserve at least one room that feels put together at all times. Out front, a brand-new porch is waiting for morning coffee, evening unwinds, and casual neighbor hellos. Need storage for hobbies, seasonal décor, or your “I swear I’ll organize this” bins? The spacious shed has you covered. Set in a friendly 55+ community with park rent at $940/month, this one keeps life simple and maintenance minimal. Small pets are welcome, and service animals always are. Bonus points: a new furnace and updated plumbing, because peace of mind isn’t a “nice to have.”

20. 2026-02-21
    price $90,000 1067-char remark

    Show marketing remark (1067 chars)

    Ready to retire the “I’ll get to it next weekend” list? This bright, updated double-wide is here to steal your toolbox and give you your Saturdays back. With new flooring, fresh paint inside and out, and a kitchen that finally looks like it belongs in this decade (plus a brand-new dishwasher doing the thankless work), the big stuff is already handled. Both bathrooms have been fully refreshed with clean finishes and a little spa-energy, because you deserve at least one room that feels put together at all times. Out front, a brand-new porch is waiting for morning coffee, evening unwinds, and casual neighbor hellos. Need storage for hobbies, seasonal décor, or your “I swear I’ll organize this” bins? The spacious shed has you covered. Set in a friendly 55+ community with park rent at $940/month, this one keeps life simple and maintenance minimal. Small pets are welcome, and service animals always are. Bonus points: a new furnace and updated plumbing, because peace of mind isn’t a “nice to have.”

21. 2025-12-03
    status Pending 1067-char remark

    Show marketing remark (1067 chars)

    Ready to retire the “I’ll get to it next weekend” list? This bright, updated double-wide is here to steal your toolbox and give you your Saturdays back. With new flooring, fresh paint inside and out, and a kitchen that finally looks like it belongs in this decade (plus a brand-new dishwasher doing the thankless work), the big stuff is already handled. Both bathrooms have been fully refreshed with clean finishes and a little spa-energy, because you deserve at least one room that feels put together at all times. Out front, a brand-new porch is waiting for morning coffee, evening unwinds, and casual neighbor hellos. Need storage for hobbies, seasonal décor, or your “I swear I’ll organize this” bins? The spacious shed has you covered. Set in a friendly 55+ community with park rent at $940/month, this one keeps life simple and maintenance minimal. Small pets are welcome, and service animals always are. Bonus points: a new furnace and updated plumbing, because peace of mind isn’t a “nice to have.”

22. 2025-11-10
    listed $70,000 Active 651-char remark

    Show marketing remark (651 chars)

    Updated 2 bed 1 bath home in the 55+ River Rd Mobile Estates community. This home offers a bump out living room and a covered patio. All appliances are included in the purchase. The kitchen is spacious and remodeled with bamboo floors and new waterproof laminate flooring throughout the rest of the home. Additional features include a ramp to the front door, a 2 car carport, and 3 storage sheds. The home has a newer roof and exterior paint, a new central AC heat pump for cooling, and new energy efficient double pane vinyl windows. The exterior offers a lattice enclosed covered deck and beautiful plantings and garden beds throughout the property.

23. 2025-09-13
    status Active 1067-char remark

    Show marketing remark (1067 chars)

    Ready to retire the “I’ll get to it next weekend” list? This bright, updated double-wide is here to steal your toolbox and give you your Saturdays back. With new flooring, fresh paint inside and out, and a kitchen that finally looks like it belongs in this decade (plus a brand-new dishwasher doing the thankless work), the big stuff is already handled. Both bathrooms have been fully refreshed with clean finishes and a little spa-energy, because you deserve at least one room that feels put together at all times. Out front, a brand-new porch is waiting for morning coffee, evening unwinds, and casual neighbor hellos. Need storage for hobbies, seasonal décor, or your “I swear I’ll organize this” bins? The spacious shed has you covered. Set in a friendly 55+ community with park rent at $940/month, this one keeps life simple and maintenance minimal. Small pets are welcome, and service animals always are. Bonus points: a new furnace and updated plumbing, because peace of mind isn’t a “nice to have.”

24. 2025-04-10
    listed $129,900 Active 1067-char remark

    Show marketing remark (1067 chars)

    Ready to retire the “I’ll get to it next weekend” list? This bright, updated double-wide is here to steal your toolbox and give you your Saturdays back. With new flooring, fresh paint inside and out, and a kitchen that finally looks like it belongs in this decade (plus a brand-new dishwasher doing the thankless work), the big stuff is already handled. Both bathrooms have been fully refreshed with clean finishes and a little spa-energy, because you deserve at least one room that feels put together at all times. Out front, a brand-new porch is waiting for morning coffee, evening unwinds, and casual neighbor hellos. Need storage for hobbies, seasonal décor, or your “I swear I’ll organize this” bins? The spacious shed has you covered. Set in a friendly 55+ community with park rent at $940/month, this one keeps life simple and maintenance minimal. Small pets are welcome, and service animals always are. Bonus points: a new furnace and updated plumbing, because peace of mind isn’t a “nice to have.”

25. 1989-05-25
    soldstatus $900,000

ⓘ 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 ≥92°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 11 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,306
• − Mortgage interest: −$3,355
• − Property taxes: −$898
• − Insurance: −$300
• − Repairs & maintenance: −$3,384
• − Management: −$3,384
• − Depreciation: −$1,743
• Taxable income: $29,241
• Est. tax owed @ 24.0%: −$7,018
• After-tax cash flow: $21,436/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: Hillsboro SD 1J
• NCES district ID: 4100023
• Math proficiency: 35% ▼ -4.00%
• Reading proficiency: 46% ▼ -7.00%
• Median HH income: $68,587
• Composite: 36.64/100
• National rank: #4617
• State rank: #13 of 58 in OR

Livability — Hillsboro

• Score: 87/100
• State rank: #13
• US rank: #282

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hillsboro, OR
• County: Washington County · 583,254 people
• City population: 102,767
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 48,410
• Household income: $109,985
• Rent vs Own: 30.2% rent · 69.8% own
• Severe rent burden: 929.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 54% Hispanic / Latino 29% Two or more races 17% Asian 9% Native American 2% Black 2%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Portuguese 3% Italian 3% Lithuanian 2%
• Foreign-born: 20% · Canada, Vietnam, China
• Languages at home: 70% English-only · Spanish 22% Vietnamese 2% Other Indo-European 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: ▼ -419.54%
• Current HPI: 297.1522
• Rent YoY: ▼ -1.44%
• 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

-92.8% since first listed

11 events — show timeline

• 2026-05-11 Price Changed $65,000 RMLS
• 2026-05-02 Price Changed $79,900 RMLS
• 2026-04-27 Price Changed $69,000 RMLS
• 2026-04-14 Relisted — RMLS
• 2026-02-21 Relisted — RMLS
• 2026-02-21 Price Changed $90,000 RMLS
• 2025-12-03 Pending — RMLS
• 2025-11-10 Listed $70,000 RMLS
• 2025-09-13 Relisted — RMLS
• 2025-04-10 Listed $129,900 RMLS
• 1989-05-25 Sold (Public Records) $900,000 Public Records

Property tax history

+2.7%/yr

Latest (2025): $41,571 · +0.4% YoY. Source: county tax records.