13640 SE Highway 212 #95 · Happy Valley, OR 97015

$45,000

3 bd · 2.0 ba · 1,440 sqft · Other · 40 Days on market

Built 1977 $31/sqft · 56% 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 +3.8/5.0
• Schools +3.2/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

NICE 3BD 2 BA FAMILY ROOM HOME IN 55+ PARK. BUILT IN HUTCH, GOOD FLOOR PLAN & STORAGE. 9X10 INSULATED SHED. POSSIBLE CONTRACT. MUST SELL!

Key facts

• Community pool
• Built 1977
• Listed 40 days

Property features AI

Finance

• Other: No land lease; Listing status: Active
• Financial info: Monthly lot rent: $1,370
• HOA & community: Community pool; Community recreation facilities; Community meeting room; Party room; Library; Shadowbrook park with community center; Senior community

Exterior

• Parking: Driveway; Parking pad; RV parking
• Security: Entry security feature
• Utilities: Community water; Community sewer; Electric fuel/power
• Home design: Manufactured home in park; Residential property, not attached; Updated/remodeled; Owner-occupied main level; Built in 1977; Facing information not provided
• Construction: Vinyl siding; Membrane roof; Skirting foundation
• Exterior features: Covered deck; Porch; Yard; Level lot; Paved road access

Interior

• Kitchen: Built-in oven; Cooktop; Range hood; Dishwasher; Stainless steel appliances
• Bedrooms: Primary bedroom (Main level); 2nd bedroom (Main level); 3rd bedroom (Main level)
• Flooring: Engineered hardwood
• Bathrooms: 2 full bathrooms; Primary bathroom includes bathtub with shower
• Heating & cooling: Forced air heating; Heat pump (heating and cooling); Central air conditioning
• Interior features: Engineered hardwood floors; Vinyl window frames; Accessible approach with ramp
• Laundry & utility: Electric hot water

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $45k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $45k).
• Recommended offer: $44k (3.0% below list) — sets the bar for market timing.
• Cap rate 49.1% vs local median 2.5% in Happy Valley — 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 76/100 on livability (#76 in OR, #3,386 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, cost of living F.
• North Clackamas SD 12 (suburban): math 29% / reading 43% proficiency, ranked #22 of 58 in OR (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Whitcomb Elementary School (math 10% / reading 10%, grade F, #404 of 412 statewide, top 100%, 403 students, 71% FRL); Clackamas High School (math 52% / reading 67%, grade C+, #23 of 143 statewide, top 19%, 1,224 students, 27% FRL).
• Market conditions: Rents rising (+2.5%/yr); 120 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 946 units permitted in Clackamas County in 2024 (188 in 5+ unit buildings).
• This rent runs 33% of the median local income ($87k/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 $311 of loan paydown is wiped out by about $1k 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 + 2.5% rent growth), your $13k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 28y ago; this cycle's ask has dropped $19k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $15k; list at $45k implies a 200% gain — meaningful room to come down on a strong offer.

Recommended offer $43,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
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: 5.33% ✓
• Cap rate: 49.10%
• Cash-on-cash: 152.89%
• DSCR: 7.80
• GRM: 1.6

CMA / ARV

• ARV (median comp): $102,500
• List price: $45,000
• Delta: -56.10%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.48% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.44×
• Total profit: $93,729
• Equity at exit: $6,710

10-year hold

• IRR: —
• Equity multiple: 17.53×
• Total profit: $208,301
• Equity at exit: $3,891

Cash invested: $12,600 (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 97015

• Rents YoY: 2.5%
• Active inventory: 120
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $2,400 high
• Mortgage (P&I): −$236
• Tax from tax record: −$36 /mo · $431/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$504
• Net cashflow: $1,605

Break-even live

Break-even rent $368

Max offer price $45,000

Occupancy floor 28%

Sensitivity live

Price	-10% $1,631	-5% $1,618	+0% $1,605	+5% $1,593	+10% $1,580
Rent	-10% $1,416	-5% $1,511	+0% $1,605	+5% $1,700	+10% $1,795
Rate	-1.0pp $1,628	-0.5pp $1,617	base $1,605	+0.5pp $1,594	+1.0pp $1,582

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13300 SE Hubbard Rd Clackamas, OR	3.0	1.0–2.0	818	$2,290	$2.80	2d	6	0.32mi
12301 SE Hubbard Rd Clackamas, OR	2.0–3.0	1.0–2.0	936	$2,063	$2.20	11d	4	0.73mi
13898 SE Rogers Ln Clackamas, OR	3.0	2.0	1488	$2,599	$1.75	44d	1	0.84mi
14439 SE Oregon Trail Dr Clackamas, OR	3.0	2.0	1650	$2,615	$1.58	2d	1	0.93mi
14095 SE Summerfield Loop Happy Valley, OR	3.0	2.5	1453	$2,695	$1.85	44d	1	1.09mi
14712 SE Misty Dr Happy Valley, OR	2.0	1.0–2.0	955	$1,988	$2.08	2d	13	1.19mi
14154 SE Summerfield Loop Unit 14194 Happy Valley, OR	3.0	2.5	1125	$2,250	$2.00	24d	1	1.22mi
14194 SE Summerfield Loop Happy Valley, OR	3.0	2.5	1125	$2,250	$2.00	24d	1	1.22mi
13120 SE 128th Ave Happy Valley, OR	3.0	2.5	1861	$2,900	$1.56	44d	1	1.29mi

Listing history 17 events

1. 2026-06-17
   status $45,000 Pending 40 DOM
2. 2026-06-16
   days on market $45,000 Active 40 DOM
3. 2026-06-15
   days on market $45,000 Active 39 DOM
4. 2026-06-13
   days on market $45,000 Active 37 DOM
5. 2026-06-09
   days on market $45,000 Active 33 DOM
6. 2026-06-08
   days on market $45,000 Active 32 DOM
7. 2026-06-07
   days on market $45,000 Active 31 DOM
8. 2026-06-05
   remarks 439-char remark
9. 2026-06-05
   days on market $45,000 Active 28 DOM
10. 2026-06-03
    days on market $45,000 Active 27 DOM
11. 2026-06-02
    days on market $45,000 Active 26 DOM
12. 2026-06-01
    days on market $45,000 Active 25 DOM
13. 2026-05-31
    pricedays on market $45,000 Active 24 DOM
14. 2026-05-12
    price $55,000 375-char remark
15. 2026-05-07
    listed $64,000 Active 375-char remark
16. 1999-04-26
    soldstatus $15,000 141-char remark

    Show marketing remark (141 chars)

    NICE 3BD 2 BA FAMILY ROOM HOME IN 55+ PARK. BUILT IN HUTCH, GOOD FLOOR PLAN & STORAGE. 9X10 INSULATED SHED. POSSIBLE CONTRACT. MUST SELL!

17. 1998-11-13
    listed $29,995 141-char remark

    Show marketing remark (141 chars)

    NICE 3BD 2 BA FAMILY ROOM HOME IN 55+ PARK. BUILT IN HUTCH, GOOD FLOOR PLAN & STORAGE. 9X10 INSULATED SHED. POSSIBLE CONTRACT. MUST SELL!

ⓘ 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: $431 · $36/mo
• Projected year-2 tax: $436 · $36/mo
• Expected delta: +$6/yr ($0/mo · 1.3%)

ⓘ 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 ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 14 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,800
• − Mortgage interest: −$2,521
• − Property taxes: −$431
• − Insurance: −$225
• − Repairs & maintenance: −$2,304
• − Management: −$2,304
• − Depreciation: −$1,309
• Taxable income: $19,706
• Est. tax owed @ 24.0%: −$4,730
• After-tax cash flow: $14,535/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: North Clackamas SD 12
• NCES district ID: 4108830
• Math proficiency: 29% ▼ -14.00%
• Reading proficiency: 43% ▼ -13.00%
• Median HH income: $60,217
• Composite: 32.1/100
• National rank: #5807
• State rank: #22 of 58 in OR

Livability — Happy Valley

• Score: 76/100
• State rank: #76
• US rank: #3386

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Clackamas County · 361,406 people
• City population: 34,567
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 24,433
• Household income: $87,333
• Rent vs Own: 36.0% rent · 64.0% own
• Severe rent burden: 1166.0

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 (66%)
• Race & ethnicity: White 66% Hispanic / Latino 15% Two or more races 12% Asian 11% Black 2%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Italian 4% Scotch-Irish 4% Lithuanian 3%
• Foreign-born: 15% · Canada, China, Vietnam
• Languages at home: 74% English-only · Spanish 11% Chinese 5% Russian/Polish/Slavic 3%

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: ▼ -170.50%
• Current HPI: 295.7295
• Rent YoY: ▲ 2.48%
• 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

+50.0% since first listed

7 events — show timeline

• 2026-06-16 Pending — RMLS
• 2026-05-30 Price Changed $45,000 RMLS
• 2026-05-20 Price Changed $49,000 RMLS
• 2026-05-12 Price Changed $55,000 RMLS
• 2026-05-07 Listed $64,000 RMLS
• 1999-04-26 Sold (MLS) $15,000 RMLS
• 1998-11-13 Listed $29,995 RMLS

Property tax history

+60.8%/yr

Latest (2024): $431 · -4.3% YoY. Source: county tax records.