15768 SE Powell Blvd #12 · Portland, OR 97236

$99,000

2 bd · 2.0 ba · 1,232 sqft · Manufactured public records · 155 Days on market

Built 1992 $80/sqft · 17% below area Est $119k · 17% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Schools +3.5/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Best value found here! Welcome home to this beautifully updated manufactured home, perfectly situated at the base of Powell Butte Nature Park. This inviting two-bedroom, two-bathroom retreat features an open layout enhanced by vaulted ceilings, creating a spacious and airy atmosphere. Modern updates throughout ensure a seamless blend of comfort and style, making it ideal for both relaxation and entertaining. Enjoy peace of mind with a newer roof, plumbing, HVAC system, appliances, fresh paint, contemporary lighting, and stylish flooring refreshed kitchen and baths—all ready for you to move right in! Bright, clean, and well maintained, this home was a well kept secret until now! Don’t miss your chance to make it your own. Parkway Estates is a peaceful park with no age restrictions. Ask about financing!!

Key facts

• New plumbing
• Fresh paint
• Newer roof

Tags

• UPDATED MANUFACTURED HOME
• NEWER ROOF
• NEW PLUMBING
• NEW HVAC SYSTEM
• NEW APPLIANCES
• FRESH PAINT

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $99k.

Deal economics

• At list price, monthly cash flow is $703 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $87k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.8% 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.
• Centennial SD 28J (suburban): math 31% / reading 43% proficiency, ranked #125 of 183 in OR (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.6%/yr); 204 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 155 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 28y ago; this cycle's ask has dropped $36k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $66k; list at $99k implies a 51% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 155 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.65% ✓
• Cap rate: 14.81%
• Cash-on-cash: 30.44%
• DSCR: 2.35
• GRM: 5.0

CMA / ARV

• ARV (median comp): $118,981
• List price: $99,000
• Delta: -16.79%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15768 SE Powell Blvd #45	0.04mi	3/2.0 (+1)	1,232 (0%)	14mo	$93,000	$75	81
16000 SE Powell Blvd #12	0.08mi	3/2.0 (+1)	1,152 (-6%)	11mo	$124,000	$108	71
16000 SE Powell Blvd #16	0.07mi	3/2.0 (+1)	1,404 (+14%)	8mo	$69,985	$50	62

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 · 1.64% rent growth · sell at horizon

5-year hold

• IRR: 23.6%
• Equity multiple: 1.96×
• Total profit: $26,493
• Equity at exit: $14,761

10-year hold

• IRR: 30.7%
• Equity multiple: 3.59×
• Total profit: $71,771
• Equity at exit: $8,560

Cash invested: $27,720 (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 97236

• Rents YoY: 1.6%
• Active inventory: 204
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,636 high
• Mortgage (P&I): −$519
• Tax from tax record: −$29 /mo · $352/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $703

Break-even live

Break-even rent $747

Max offer price $99,000

Occupancy floor 52%

Sensitivity live

Price	-10% $759	-5% $731	+0% $703	+5% $675	+10% $647
Rent	-10% $574	-5% $638	+0% $703	+5% $768	+10% $832
Rate	-1.0pp $753	-0.5pp $728	base $703	+0.5pp $677	+1.0pp $651

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3332 SE 157th Ave Portland, OR	3.0	1.0	1000	$2,495	$2.50	44d	1	0.30mi
15139 SE Powell Blvd Unit 08 Portland, OR	2.0	1.5	780	$1,450	$1.86	5d	1	0.40mi
15139 SE Powell Blvd Unit 23 Portland, OR	2.0	1.5	780	$1,500	$1.92	44d	1	0.40mi
15075 SE Powell Blvd Apt 4 Portland, OR	3.0	3.5	1500	$2,395	$1.60	44d	1	0.45mi
15075 SE Powell Blvd Portland, OR	3.0	3.5	1500	$2,295	$1.53	5d	3	0.45mi
15007 SE Powell Blvd Apt 11 Portland, OR	2.0	1.0	864	$1,475	$1.71	44d	1	0.46mi
15007 SE Powell Blvd Unit 01 Portland, OR	2.0	1.0	806	$1,450	$1.80	8d	1	0.46mi
14919 SE Powell Blvd Unit 14919 Portland, OR	2.0	1.0	823	$1,595	$1.94	8d	1	0.49mi
16804 SE Powell Blvd Portland, OR	2.0	2.0	1101	$1,625	$1.48	11d	1	0.53mi
16804 SE Powell Blvd Portland, OR	1.0	1.0	813	$1,325	$1.63	13d	1	0.53mi
16804 SE Powell Blvd Portland, OR	2.0	2.0	1070	$1,675	$1.57	15d	1	0.53mi
16804 SE Powell Blvd Unit 18-201 Portland, OR	2.0	2.0	1070	$1,675	$1.57	22d	1	0.54mi
16804 SE Powell Blvd Unit 08-202 Portland, OR	2.0	2.0	1070	$1,395	$1.30	22d	1	0.54mi
16804 SE Powell Blvd Unit 12-102 Portland, OR	2.0	2.0	1070	$1,725	$1.61	22d	1	0.54mi
3318 SE 148th Ave Portland, OR	2.0	1.5	950	$1,750	$1.84	18d	1	0.55mi
16824 SE Powell Blvd Portland, OR	2.0	2.0	1070	$1,720	$1.61	5d	5	0.55mi
16811 SE Francis St Portland, OR	3.0	1.0	1488	$2,600	$1.75	15d	1	0.57mi
16916 SE Powell Blvd Portland, OR	2.0	2.0	1070	$1,695	$1.58	44d	1	0.58mi
2675 SE 162nd Ave Portland, OR	1.0–2.0	1.0	689	$1,495	$2.17	13d	1	0.66mi
15812 SE Division St Portland, OR	2.0	1.0	836	$1,095	$1.31	44d	1	0.69mi
15790 SE Division St Portland, OR	2.0	1.0	836	$1,095	$1.31	11d	1	0.71mi
15774 SE Division St Portland, OR	2.0	1.0	836	$1,095	$1.31	11d	1	0.72mi
14992 SE Division St Unit 3 Bedroom Portland, OR	3.0	1.0	909	$1,350	$1.49	44d	1	0.76mi
14992 SE Division St Unit 2 Bedroom Portland, OR	2.0	1.0	768	$1,300	$1.69	44d	1	0.76mi
14992 SE Division St Portland, OR	1.0–3.0	1.0	726	$1,174	$1.62	17d	3	0.76mi
3414 SE 143rd Ave Portland, OR	2.0	2.0	1000	$1,650	$1.65	8d	2	0.76mi
15301-15353 SE Division St Unit 15301 Portland, OR	2.0	1.5	1000	$1,500	$1.50	44d	1	0.77mi
17310 SE Naegeli Dr Portland, OR	2.0	2.0	990	$1,562	$1.58	2d	5	0.81mi
2641 SE 168th Ave Portland, OR	3.0	1.5	1144	$2,700	$2.36	44d	1	0.83mi
17442 SE Powell Blvd Portland, OR	2.0	1.0	729	$1,075	$1.47	11d	1	0.86mi
17450 SE Powell Blvd Portland, OR	2.0	1.0	729	$1,075	$1.47	21d	1	0.86mi
17468 SE Powell Blvd Portland, OR	2.0	1.0	729	$1,075	$1.47	21d	1	0.87mi
2645 SE 145th Ave Portland, OR	2.0	1.0	780	$1,250	$1.60	8d	1	0.90mi
2629 SE 145th Ave Portland, OR	1.0	1.0	700	$1,150	$1.64	44d	1	0.91mi
2609 SE 145th Ave Unit A-09 Portland, OR	2.0	1.0	750	$1,299	$1.73	24d	1	0.91mi
2609 SE 145th Ave Unit E-39 Portland, OR	2.0	1.0	750	$1,299	$1.73	44d	1	0.91mi
2609 SE 145th Ave Unit C-19 Portland, OR	3.0	1.5	1117	$1,499	$1.34	18d	1	0.91mi
2609 SE 145th Ave Unit H-77 Portland, OR	3.0	1.5	1117	$1,504	$1.35	18d	1	0.91mi
13938 SE Powell Blvd Unit 2 Portland, OR	2.0	1.0	900	$1,535	$1.71	44d	1	0.94mi
2541-2545 SE 170th Ave Unit 2543 Portland, OR	2.0	1.5	832	$1,695	$2.04	24d	1	0.94mi

Listing history 17 events

1. 2026-06-13
   statusdays on market $99,000 Pending 155 DOM
2. 2026-06-09
   days on market $99,000 Active 152 DOM
3. 2026-06-07
   days on market $99,000 Active 150 DOM
4. 2026-06-05
   days on market $99,000 Active 147 DOM
5. 2026-06-03
   days on market $99,000 Active 146 DOM
6. 2026-06-02
   days on market $99,000 Active 145 DOM
7. 2026-06-01
   days on market $99,000 Active 144 DOM
8. 2026-05-31
   days on market $99,000 Active 143 DOM
9. 2026-04-20
   price $109,000 827-char remark

   Show marketing remark (827 chars)

   Best value found here! Welcome home to this beautifully updated manufactured home, perfectly situated at the base of Powell Butte Nature Park. This inviting two-bedroom, two-bathroom retreat features an open layout enhanced by vaulted ceilings, creating a spacious and airy atmosphere. Modern updates throughout ensure a seamless blend of comfort and style, making it ideal for both relaxation and entertaining. Enjoy peace of mind with a newer roof, plumbing, HVAC system, appliances, fresh paint, contemporary lighting, and stylish flooring refreshed kitchen and baths—all ready for you to move right in! Bright, clean, and well maintained, this home was a well kept secret until now! Don’t miss your chance to make it your own. Parkway Estates is a peaceful park with no age restrictions. Ask about financing!!

10. 2026-03-04
    price $119,000 827-char remark

    Show marketing remark (827 chars)

    Best value found here! Welcome home to this beautifully updated manufactured home, perfectly situated at the base of Powell Butte Nature Park. This inviting two-bedroom, two-bathroom retreat features an open layout enhanced by vaulted ceilings, creating a spacious and airy atmosphere. Modern updates throughout ensure a seamless blend of comfort and style, making it ideal for both relaxation and entertaining. Enjoy peace of mind with a newer roof, plumbing, HVAC system, appliances, fresh paint, contemporary lighting, and stylish flooring refreshed kitchen and baths—all ready for you to move right in! Bright, clean, and well maintained, this home was a well kept secret until now! Don’t miss your chance to make it your own. Parkway Estates is a peaceful park with no age restrictions. Ask about financing!!

11. 2026-02-14
    price $130,000 827-char remark

    Show marketing remark (827 chars)

    Best value found here! Welcome home to this beautifully updated manufactured home, perfectly situated at the base of Powell Butte Nature Park. This inviting two-bedroom, two-bathroom retreat features an open layout enhanced by vaulted ceilings, creating a spacious and airy atmosphere. Modern updates throughout ensure a seamless blend of comfort and style, making it ideal for both relaxation and entertaining. Enjoy peace of mind with a newer roof, plumbing, HVAC system, appliances, fresh paint, contemporary lighting, and stylish flooring refreshed kitchen and baths—all ready for you to move right in! Bright, clean, and well maintained, this home was a well kept secret until now! Don’t miss your chance to make it your own. Parkway Estates is a peaceful park with no age restrictions. Ask about financing!!

12. 2026-01-07
    listed $135,000 Active 827-char remark

    Show marketing remark (827 chars)

    Best value found here! Welcome home to this beautifully updated manufactured home, perfectly situated at the base of Powell Butte Nature Park. This inviting two-bedroom, two-bathroom retreat features an open layout enhanced by vaulted ceilings, creating a spacious and airy atmosphere. Modern updates throughout ensure a seamless blend of comfort and style, making it ideal for both relaxation and entertaining. Enjoy peace of mind with a newer roof, plumbing, HVAC system, appliances, fresh paint, contemporary lighting, and stylish flooring refreshed kitchen and baths—all ready for you to move right in! Bright, clean, and well maintained, this home was a well kept secret until now! Don’t miss your chance to make it your own. Parkway Estates is a peaceful park with no age restrictions. Ask about financing!!

13. 2021-10-27
    soldstatus $65,500 Sold 402-char remark

    Show marketing remark (402 chars)

    Come enjoy this spacious double wide, perfectly positioned and backing up to Powell Butte. Large backyard area for entertaining and play! 2 bedroom, 2 bathroom, spacious primary suite with walk in closet. Wall to wall carpet in the spacious living and dining room area. This floorplan is roomy and spacious and ample room for entertaining! Home to be sold as-is. Space rent $765 buyer to verify.

14. 2021-09-16
    status Pending 402-char remark

    Show marketing remark (402 chars)

    Come enjoy this spacious double wide, perfectly positioned and backing up to Powell Butte. Large backyard area for entertaining and play! 2 bedroom, 2 bathroom, spacious primary suite with walk in closet. Wall to wall carpet in the spacious living and dining room area. This floorplan is roomy and spacious and ample room for entertaining! Home to be sold as-is. Space rent $765 buyer to verify.

15. 2021-09-09
    listed $70,000 Active 402-char remark

    Show marketing remark (402 chars)

    Come enjoy this spacious double wide, perfectly positioned and backing up to Powell Butte. Large backyard area for entertaining and play! 2 bedroom, 2 bathroom, spacious primary suite with walk in closet. Wall to wall carpet in the spacious living and dining room area. This floorplan is roomy and spacious and ample room for entertaining! Home to be sold as-is. Space rent $765 buyer to verify.

16. 1998-06-04
    soldstatus $49,500
17. 1998-03-27
    listed $49,500

ⓘ 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: $352 · $29/mo
• Projected year-2 tax: $960 · $80/mo
• Expected delta: +$608/yr (+$51/mo · 172.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 23 unhealthy d/yr today · 27 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,638
• − Mortgage interest: −$5,546
• − Property taxes: −$352
• − Insurance: −$495
• − Repairs & maintenance: −$1,571
• − Management: −$1,571
• − Depreciation: −$2,880
• Taxable income: $7,223
• Est. tax owed @ 24.0%: −$1,734
• After-tax cash flow: $6,703/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: Centennial SD 28J
• NCES district ID: 4102800
• Math proficiency: 31% ▼ -2.00%
• Reading proficiency: 43% ▼ -2.00%
• Median HH income: $49,619
• Composite: 34.5/100
• National rank: #10133
• State rank: #125 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): 37,558
• Household income: $75,090
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 1744.0

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: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 51% Hispanic / Latino 21% Asian 13% Two or more races 12% Black 9% Pacific Islander 1%
• Hispanic origin (detail): Mexican 15% Cuban 1%
• Common ancestry: Italian 3% Scotch-Irish 2% Subsaharan African 2%
• Foreign-born: 25% · Canada, Vietnam, China
• Languages at home: 63% English-only · Spanish 16% Vietnamese 6% Russian/Polish/Slavic 5%

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: ▼ -334.44%
• Current HPI: 289.931
• Rent YoY: ▲ 1.64%
• 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

+120.2% since first listed

9 events — show timeline

• 2026-04-20 Price Changed $109,000 RMLS
• 2026-03-04 Price Changed $119,000 RMLS
• 2026-02-14 Price Changed $130,000 RMLS
• 2026-01-07 Listed $135,000 RMLS
• 2021-10-27 Sold (MLS) $65,500 RMLS
• 2021-09-16 Pending — RMLS
• 2021-09-09 Listed $70,000 RMLS
• 1998-06-04 Sold (MLS) $49,500 RMLS
• 1998-03-27 Listed $49,500 RMLS

Property tax history

-1.8%/yr

Latest (2025): $352 · +15.5% YoY. Source: county tax records.