942 SE 16th Ave · Portland, OR 97214

$660,000

4 bd · 4.0 ba · 2,054 sqft · MultiFamily public records · 108 Days on market

Built 1904 4,791 sqft lot $321/sqft · 27% above area Est $859k · 23% 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 +19.3/30.0
• ARV discount +15.0/15.0
• DSCR +6.1/10.0
• 1% rule +5.0/10.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

The Buckman Fourplex is a well-located 1904 vintage asset in the heart of Southeast Portland’s highly desirable Buckman neighborhood. Positioned on a quiet residential street just minutes from Hawthorne, Belmont, and Division corridors, the property offers residents immediate access to some of Portland’s best dining, retail, and entertainment options. The neighborhood’s strong walkability, bike infrastructure, and proximity to downtown Portland continue to support long-term rental demand.The property consists of four residential units totaling approximately 2,454 rentable square feet on a 4,600 SF lot. The unit mix includes two spacious studio apartments and two one-bedroom units, all featuring efficient layouts with above-average square footage for the area. Built in 1904, the building retains classic early-20th-century charm while offering functional living spaces attractive to today’s renters. Amenities include shared laundry in the basement and a partial utility bill-back system. Parking is street-only.This offering presents a compelling opportunity to acquire a character fourplex in one of Portland’s most established and supply-constrained eastside neighborhoods. With strong in-place tenancy and clear upside potential through future rent adjustments and operational optimization, the Buckman Fourplex is well-suited for investors seeking stable, long-term performance with value-add opportunity in a premier Southeast Portland location.

Key facts

• 4,791 sq ft lot
• Built 1904
• Listed 108 days

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $660k.

Deal economics

• At list price, monthly cash flow is $730 ($9k/yr) — positive. Per door: $182/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $658k (0.3% below list).
• Recommended offer: $601k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.6% 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.
• Market conditions: Rents rising (+1.3%/yr); 123 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $6,577/mo this rent would consume 91% 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 $5k of loan paydown is wiped out by about $20k 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 108 days — a 9% lower offer ($601k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y ago; this cycle's ask has dropped $35k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $405k; list at $660k implies a 63% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1904 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $600,600 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1904 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.00% ✗
• Cap rate: 7.62%
• Cash-on-cash: 4.74%
• DSCR: 1.21
• GRM: 8.4

CMA / ARV

• ARV (median comp): $859,119
• List price: $660,000
• Delta: -23.18%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2103 SE Stark St	0.35mi	4/2.0	2,072 (+1%)	14mo	$630,000	$304	63
2333 SE Oak St	0.47mi	4/2.0	2,148 (+5%)	12mo	$775,000	$361	52
1024 SE Sherman St	0.71mi	3/2.0 (-1)	1,918 (-7%)	15mo	$476,375	$248	30
2234 NE Everett St	0.70mi	4/2.0	2,268 (+10%)	14mo	$675,400	$298	30

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: -10.8%
• Equity multiple: 0.61×
• Total profit: $-71,441
• Equity at exit: $98,408

10-year hold

• IRR: -4.0%
• Equity multiple: 0.75×
• Total profit: $-45,837
• Equity at exit: $57,065

Cash invested: $184,800 (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: 123
• Price-to-rent: 33.5×

Monthly cashflow live

• Estimated rent: $6,577 high
• Mortgage (P&I): −$3,461
• Tax from tax record: −$730 /mo · $8,762/yr
• Insurance: −$275
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,381
• Net cashflow: $730

Break-even live

Break-even rent $5,654

Max offer price $660,000

Occupancy floor 84%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$6,576
Total (4 units)			$6,577

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: $165,000
• Closing costs: $19,800
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1937 SE Stark St Unit 2 Portland, OR	3.0	2.0	1400	$3,145	$2.25	23d	1	0.29mi
1327 SE Pine St Unit A Portland, OR	4.0	1.5	2000	$3,480	$1.74	43d	1	0.37mi
1902 E Burnside St Portland, OR	3.0	2.0	2000	$3,300	$1.65	43d	1	0.48mi
26 NE 11th Ave Unit 1309845P Portland, OR	3.0	2.0	2411	$6,787	$2.82	7d	1	0.57mi
348 NE 20th Ave Portland, OR	3.0	2.0	1800	$6,000	$3.33	43d	1	0.68mi
2034 NE Flanders St Unit 1309886P Portland, OR	5.0	2.0	2098	$13,456	$6.41	23d	1	0.69mi
502 NE 29th Ave Unit 1309818P Portland, OR	3.0	1.0	2012	$5,376	$2.67	7d	1	0.98mi
875 NE 27th Ave Portland, OR	3.0	1.0–2.0	1462	$4,900	$3.35	1d	13	0.99mi
3523 SE Alder St Portland, OR	4.0	2.5	2200	$4,600	$2.09	14d	1	1.04mi
3005 SE 25th Ave Portland, OR	4.0	2.0	1700	$3,200	$1.88	17d	1	1.11mi
3260 SE Milwaukie Ave Portland, OR	3.0	1.0–2.0	983	$4,032	$4.10	7d	13	1.15mi
3736 SE Belmont St Portland, OR	3.0	1.0	1440	$3,149	$2.19	43d	1	1.16mi
3820 SE Belmont St Unit 1309865P Portland, OR	4.0	2.0	1679	$11,567	$6.89	43d	1	1.22mi
514 SE 42nd Ave Portland, OR	3.0	2.0	2176	$6,500	$2.99	7d	1	1.45mi

Listing history 24 events

1. 2026-06-18
   days on market $660,000 Active 108 DOM
2. 2026-06-17
   days on market $660,000 Active 107 DOM
3. 2026-06-16
   days on market $660,000 Active 106 DOM
4. 2026-06-15
   days on market $660,000 Active 105 DOM
5. 2026-06-13
   days on market $660,000 Active 103 DOM
6. 2026-06-09
   days on market $660,000 Active 99 DOM
7. 2026-06-08
   days on market $660,000 Active 98 DOM
8. 2026-06-07
   days on market $660,000 Active 97 DOM
9. 2026-06-03
   days on market $660,000 Active 93 DOM
10. 2026-06-02
    days on market $660,000 Active 92 DOM
11. 2026-06-01
    days on market $660,000 Active 91 DOM
12. 2026-05-31
    days on market $660,000 Active 90 DOM
13. 2026-02-26
    listed $695,000 Active 1491-char remark

    Show marketing remark (1491 chars)

    The Buckman Fourplex is a well-located 1904 vintage asset in the heart of Southeast Portland’s highly desirable Buckman neighborhood. Positioned on a quiet residential street just minutes from Hawthorne, Belmont, and Division corridors, the property offers residents immediate access to some of Portland’s best dining, retail, and entertainment options. The neighborhood’s strong walkability, bike infrastructure, and proximity to downtown Portland continue to support long-term rental demand.The property consists of four residential units totaling approximately 2,454 rentable square feet on a 4,600 SF lot. The unit mix includes two spacious studio apartments and two one-bedroom units, all featuring efficient layouts with above-average square footage for the area. Built in 1904, the building retains classic early-20th-century charm while offering functional living spaces attractive to today’s renters. Amenities include shared laundry in the basement and a partial utility bill-back system. Parking is street-only.This offering presents a compelling opportunity to acquire a character fourplex in one of Portland’s most established and supply-constrained eastside neighborhoods. With strong in-place tenancy and clear upside potential through future rent adjustments and operational optimization, the Buckman Fourplex is well-suited for investors seeking stable, long-term performance with value-add opportunity in a premier Southeast Portland location.

14. 2024-03-14
    historical $1,295
15. 2024-02-20
    listed $1,295
16. 2024-02-07
    historical $1,295
17. 2024-01-30
    listed $1,295
18. 2023-10-20
    soldstatus $405,000 Closed 259-char remark

    Show marketing remark (259 chars)

    Cash only sale. Perfect opportunity to make this 4plex yours! Priced to SELL. Great income potential and instant equity with your cosmetic updates and touches. Live in one unit and rent the other three units? Ideal location to eatery, shops and transporation.

19. 2023-10-20
    soldstatus $405,000 Closed

    Show marketing remark (259 chars)

    Cash only sale. Perfect opportunity to make this 4plex yours! Priced to SELL. Great income potential and instant equity with your cosmetic updates and touches. Live in one unit and rent the other three units? Ideal location to eatery, shops and transporation.

20. 2023-10-20
    soldstatus $405,000

    Show marketing remark (259 chars)

    Cash only sale. Perfect opportunity to make this 4plex yours! Priced to SELL. Great income potential and instant equity with your cosmetic updates and touches. Live in one unit and rent the other three units? Ideal location to eatery, shops and transporation.

21. 2023-09-25
    status Pending 259-char remark

    Show marketing remark (259 chars)

    Cash only sale. Perfect opportunity to make this 4plex yours! Priced to SELL. Great income potential and instant equity with your cosmetic updates and touches. Live in one unit and rent the other three units? Ideal location to eatery, shops and transporation.

22. 2023-09-25
    status Pending

    Show marketing remark (259 chars)

    Cash only sale. Perfect opportunity to make this 4plex yours! Priced to SELL. Great income potential and instant equity with your cosmetic updates and touches. Live in one unit and rent the other three units? Ideal location to eatery, shops and transporation.

23. 2023-09-17
    listed $499,900 Active 259-char remark

    Show marketing remark (259 chars)

    Cash only sale. Perfect opportunity to make this 4plex yours! Priced to SELL. Great income potential and instant equity with your cosmetic updates and touches. Live in one unit and rent the other three units? Ideal location to eatery, shops and transporation.

24. 2023-09-17
    listed $499,900 Active

    Show marketing remark (259 chars)

    Cash only sale. Perfect opportunity to make this 4plex yours! Priced to SELL. Great income potential and instant equity with your cosmetic updates and touches. Live in one unit and rent the other three units? Ideal location to eatery, shops and transporation.

ⓘ 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: $8,762 · $730/mo
• Projected year-2 tax: $8,762 · $730/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 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 10/10 Extreme 19 unhealthy d/yr today · 21 by 30 yrs out

Taxation est. · year 1

• Rental income: $78,924
• − Mortgage interest: −$36,970
• − Property taxes: −$8,762
• − Insurance: −$3,300
• − Repairs & maintenance: −$6,314
• − Management: −$6,314
• − Depreciation: −$19,200
• Taxable loss: −$1,936
• Est. tax savings @ 24.0%: +$465
• After-tax cash flow: $9,219/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

+39.0% since first listed

12 events — show timeline

• 2026-02-26 Listed $695,000 RMLS
• 2024-03-14 Rental Removed $1,295 APPFOLIO
• 2024-02-20 Listed for Rent $1,295 APPFOLIO
• 2024-02-07 Rental Removed $1,295 APPFOLIO
• 2024-01-30 Listed for Rent $1,295 APPFOLIO
• 2023-10-20 Sold (Public Records) $405,000 Public Records
• 2023-10-20 Sold (MLS) $405,000 RMLS
• 2023-10-20 Sold (MLS) $405,000 RMLS
• 2023-09-25 Pending — RMLS
• 2023-09-25 Pending — RMLS
• 2023-09-17 Listed $499,900 RMLS
• 2023-09-17 Listed $499,900 RMLS

Property tax history

+4.9%/yr

Latest (2025): $8,762 · +3.7% YoY. Source: county tax records.