32700 SE Leewood Ln #32 · Boring, OR 97009

$174,000

3 bd · 1.0 ba · 1,333 sqft · Other public records · 131 Days on market

Built 2016 $131/sqft · 36% above area Est $128k · 36% over $1295/mo HOA · 43% of rent ↓ 3% 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).

• Cash flow +13.5/30.0
• 1% rule +10.0/10.0
• Schools +5.0/10.0
• DSCR +4.1/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Big Valley Woods Manufactured Home Community with acres of walking trails through nature, 2 ponds, Deep Creek, trees, recreation facility includes club house w/full kitchen, a fitness center w/treadmill and weights room, pool tables, ping pong table, gated RV parking area is $45.00 month. Move in ready 2016 Fleetwood nicely remodeled in the last year, 3bdrm, 2ba, large open kitchen w/island, maple cabinets, new refrigerator included, built-in microwave, stove, dish washer, master has full bath w/walk-in shower, utility room washer/dryer stay, 2 car attached carport, 2 storage sheds, nice back patio area. All the new upgrades in the last year include 2 new mini splits, new gutters, new paint inside, new laminate flooring, new faucets and toilets, new front porch, serviced heat pump for back up heating, park rent includes water, sewer, garbage.

Key facts

• Recreation facility
• Remodeled
• Fitness center

Tags

• WALKING TRAILS
• RECREATION FACILITY
• CLUB HOUSE
• FITNESS CENTER
• REMODELED
• LARGE OPEN KITCHEN

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $174k.

Deal economics

• At list price, monthly cash flow is $7 ($89/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $174k).
• Recommended offer: $153k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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.
• Zoned schools: Sandy High School (1,440 students, 32% FRL) — zoned schools at 32% FRL track the district average.
• Market conditions: 38 active listings in the ZIP; 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 131 days — a 12% lower offer ($153k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 43% of rent.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $153,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 131 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. 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?
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: 1.74% ✓
• Cap rate: 6.34%
• Cash-on-cash: 0.18%
• DSCR: 1.01
• GRM: 4.8

CMA / ARV

• ARV (median comp): $128,247
• List price: $174,000
• Delta: 35.68%
• Verdict: OVERPRICED
• Comps: 10 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -15.5%
• Equity multiple: 0.45×
• Total profit: $-26,955
• Equity at exit: $25,944

10-year hold

• IRR: -6.2%
• Equity multiple: 0.59×
• Total profit: $-19,740
• Equity at exit: $15,044

Cash invested: $48,720 (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 97009

• Active inventory: 38
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $3,023 medium
• Mortgage (P&I): −$912
• Tax from tax record: −$101 /mo · $1,210/yr
• Insurance: −$72
• HOA: −$1,295
• Vacancy / Maint / Mgmt: −$635
• Net cashflow: $7

Break-even live

Break-even rent $3,014

Max offer price $174,000

Occupancy floor 95%

Sensitivity live

Price	-10% $106	-5% $57	+0% $7	+5% $-42	+10% $-91
Rent	-10% $-231	-5% $-112	+0% $7	+5% $127	+10% $246
Rate	-1.0pp $95	-0.5pp $52	base $7	+0.5pp $-38	+1.0pp $-84

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: $43,500
• Closing costs: $5,220
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $1,295 · $15,540/yr
• Likely covers: watersewertrashpoolgymsecurity

Listing history 16 events

1. 2026-06-21
   days on market $174,000 Active 131 DOM
2. 2026-06-18
   days on market $174,000 Active 128 DOM
3. 2026-06-17
   days on market $174,000 Active 127 DOM
4. 2026-06-16
   days on market $174,000 Active 126 DOM
5. 2026-06-15
   days on market $174,000 Active 125 DOM
6. 2026-06-13
   days on market $174,000 Active 123 DOM
7. 2026-06-13
   days on market $174,000 Active 122 DOM
8. 2026-06-09
   days on market $174,000 Active 119 DOM
9. 2026-06-08
   days on market $174,000 Active 118 DOM
10. 2026-06-07
    days on market $174,000 Active 117 DOM
11. 2026-06-03
    days on market $174,000 Active 113 DOM
12. 2026-06-02
    days on market $174,000 Active 112 DOM
13. 2026-06-01
    days on market $174,000 Active 111 DOM
14. 2026-05-31
    days on market $174,000 Active 110 DOM
15. 2026-04-25
    price $174,000 854-char remark

    Show marketing remark (854 chars)

    Big Valley Woods Manufactured Home Community with acres of walking trails through nature, 2 ponds, Deep Creek, trees, recreation facility includes club house w/full kitchen, a fitness center w/treadmill and weights room, pool tables, ping pong table, gated RV parking area is $45.00 month. Move in ready 2016 Fleetwood nicely remodeled in the last year, 3bdrm, 2ba, large open kitchen w/island, maple cabinets, new refrigerator included, built-in microwave, stove, dish washer, master has full bath w/walk-in shower, utility room washer/dryer stay, 2 car attached carport, 2 storage sheds, nice back patio area. All the new upgrades in the last year include 2 new mini splits, new gutters, new paint inside, new laminate flooring, new faucets and toilets, new front porch, serviced heat pump for back up heating, park rent includes water, sewer, garbage.

16. 2026-02-10
    listed $179,000 Active 854-char remark

    Show marketing remark (854 chars)

    Big Valley Woods Manufactured Home Community with acres of walking trails through nature, 2 ponds, Deep Creek, trees, recreation facility includes club house w/full kitchen, a fitness center w/treadmill and weights room, pool tables, ping pong table, gated RV parking area is $45.00 month. Move in ready 2016 Fleetwood nicely remodeled in the last year, 3bdrm, 2ba, large open kitchen w/island, maple cabinets, new refrigerator included, built-in microwave, stove, dish washer, master has full bath w/walk-in shower, utility room washer/dryer stay, 2 car attached carport, 2 storage sheds, nice back patio area. All the new upgrades in the last year include 2 new mini splits, new gutters, new paint inside, new laminate flooring, new faucets and toilets, new front porch, serviced heat pump for back up heating, park rent includes water, sewer, garbage.

ⓘ 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: $1,210 · $101/mo
• Projected year-2 tax: $1,688 · $141/mo
• Expected delta: +$478/yr (+$40/mo · 39.5%)

ⓘ 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 5/10 Major
• 🌡 Heat 2/10 Low 7 d/yr ≥90°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: $36,276
• − Mortgage interest: −$9,747
• − Property taxes: −$1,210
• − Insurance: −$870
• − Repairs & maintenance: −$2,902
• − Management: −$2,902
• − HOA: −$15,540
• − Depreciation: −$5,062
• Taxable loss: −$1,956
• Est. tax savings @ 24.0%: +$470
• After-tax cash flow: $558/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 — Boring

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 7,877

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 (73%)
• Race & ethnicity: White 73% Hispanic / Latino 18% Two or more races 14% Asian 1%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Portuguese 3% Slovak 3% Iranian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 91% English-only · Spanish 7% Other Indo-European 2%

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: ▼ -238.15%
• Current HPI: 307.0405
• Rent YoY: —
• Metro: —
• 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

-2.8% since first listed

2 events — show timeline

• 2026-04-25 Price Changed $174,000 RMLS
• 2026-02-10 Listed $179,000 RMLS

Property tax history

+3.2%/yr

Latest (2025): $1,210 · +4.6% YoY. Source: county tax records.