737/741 NE Skidmore St · Portland, OR 97211

$725,000

5 bd · 2.0 ba · 3,052 sqft · SingleFamily · 104 Days on market

Built 1902 Good condition 5,227 sqft lot $238/sqft · 10% below area Est $802k · 10% under ↓ 3% since listing

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Why this score? — see what drove the F 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).

• ARV discount +11.8/15.0
• Schools +4.7/10.0
• Cash flow +4.3/30.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Rent growth +2.6/5.0
• 1% rule +0.4/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Legitimate opportunity in the heart of NE Portland. Whether you're an investor, owner-occupant, or drawn to classic homes with flexibility, this well-configured duplex delivers. Thoughtfully laid out with a streamlined floor plan that simply works, this property offers strong potential for rental income, multi-generational living, or living in one unit while offsetting your mortgage. Each unit features a private entrance, functional layout, abundant natural light, and hardwood floors throughout.The upstairs unit (741) includes two bedrooms plus two expansive loft spaces—ideal for offices, creative use, or additional living areas. The home also lends itself to a straightforward conversion back to a single-family residence, with multiple living spaces and a large unfinished basement (high ceilings and ingress/egress) offering excellent storage or future potential. Located in a sweet pocket with easy access to Alberta Arts, Irving Park, and some of NE Portland’s favorite restaurants. A versatile property with immediate usability and long-term upside.

Key facts

• Great natural light
• Private entrance
• Functional layouts

Tags

• PRIVATE ENTRANCE
• FUNCTIONAL LAYOUTS
• GREAT NATURAL LIGHT
• EXPANSIVE LOFT SPACES
• HUGE UNFINISHED BASEMENT
• HIGHLY DESIRABLE LOCATION

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $725k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-2k ($-23k/yr) — negative.
• To cash-flow at today's rent, offer at most $443k (38.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $388k (46.5% below list).
• Recommended offer: $388k (46.5% below list) — sets the bar for 1% rule.
• Cap rate 3.1% vs local median 2.3% 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.
• Zoned schools: Sabin Elementary School (312 students, 25% FRL); Harriet Tubman Middle School (360 students, 65% FRL); Grant High School (2,156 students, 14% FRL) — zoned schools at 35% FRL track the district average.
• Market conditions: Rents flat; 247 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 37d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 69% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 2,041 units permitted in Multnomah County in 2024 (905 in 5+ unit buildings).
• This rent runs 41% of the median local income ($113k/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 $5k of loan paydown is wiped out by about $22k 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 104 days — a 9% lower offer ($660k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $74k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1902 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $387,892 (46.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 46% concession, seller financing, or rate buy-down credit?
3. Built in 1902 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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 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: 0.54% ✗
• Cap rate: 3.07%
• Cash-on-cash: -11.50%
• DSCR: 0.49
• GRM: 15.6

CMA / ARV

• ARV (median comp): $802,053
• List price: $725,000
• Delta: -9.61%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4607 NE Garfield Ave	0.28mi	4/4.0 (-1)	2,974 (-3%)	2mo	$849,000	$285	69
4116 NE 17th Ave	0.49mi	4/3.0 (-1)	3,048 (-0%)	2mo	$1,071,000	$351	66
3302 NE 14th Ave	0.63mi	5/3.0	3,047 (-0%)	1mo	$950,000	$312	66
3344 NE 18th Ave	0.73mi	4/2.0 (-1)	3,069 (+1%)	2mo	$850,000	$277	58
5116 NE 15th Ave	0.54mi	5/3.0	3,251 (+6%)	3mo	$667,500	$205	58
5335 NE Mallory Ave	0.60mi	4/3.0 (-1)	2,922 (-4%)	2mo	$885,000	$303	55
3622 NE 11th Ave	0.42mi	4/3.0 (-1)	2,733 (-10%)	2mo	$995,000	$364	53
3831 NE 21st Ave	0.70mi	5/4.0	2,953 (-3%)	2mo	$1,235,000	$418	52
5275 NE 18th Ave	0.70mi	4/2.0 (-1)	3,292 (+8%)	1mo	$837,650	$254	49
5216 NE Cleveland Ave	0.56mi	5/4.0	3,341 (+10%)	2mo	$866,041	$259	48
5421 NE 18th Ave	0.74mi	5/4.0	2,803 (-8%)	3mo	$950,000	$339	41
2014 NE Crane St	0.65mi	4/3.0 (-1)	2,617 (-14%)	2mo	$840,000	$321	35

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 · 0.52% rent growth · sell at horizon

5-year hold

• IRR: -40.0%
• Equity multiple: -0.24×
• Total profit: $-250,808
• Equity at exit: $108,100

10-year hold

• IRR: -82.2%
• Equity multiple: -1.04×
• Total profit: $-414,633
• Equity at exit: $62,685

Cash invested: $203,000 (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 →

Seller's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 15 active · 32 under contract
• Months of supply: 1.8 mo (54%/mo absorbed)
• Median asking: $738,900 ($252/sqft)
• Median days on market: 57 d
• This list price: 47% of active listings are priced below it
• ARV vs active asking: +4.5% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 97211

• Rents YoY: 0.5%
• Active inventory: 247
• Price-to-rent: 15.6×

Monthly cashflow live

• Estimated rent: $3,879 high
• Mortgage (P&I): −$3,802
• Tax est. 1.5%: −$906 /mo · $10,875/yr
• Insurance: −$302
• HOA: −$0
• Vacancy / Maint / Mgmt: −$815
• Net cashflow: $-1,946

Break-even live

Break-even rent $6,342

Max offer price $443,416

Occupancy floor —

Sensitivity live

Price	-10% $-1,445	-5% $-1,695	+0% $-1,946	+5% $-2,196	+10% $-2,447
Rent	-10% $-2,252	-5% $-2,099	+0% $-1,946	+5% $-1,793	+10% $-1,640
Rate	-1.0pp $-1,581	-0.5pp $-1,762	base $-1,946	+0.5pp $-2,134	+1.0pp $-2,325

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: $181,250
• Closing costs: $21,750
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4853 NE 6th Ave Portland, OR	4.0	2.0	2982	$3,295	$1.10	9d	1	0.23mi
4622 NE Garfield Ave Unit 1309897P Portland, OR	4.0	3.0	2497	$13,231	$5.30	93d	1	0.24mi
4513 NE 13th Ave Portland, OR	4.0	2.0	2330	$3,595	$1.54	37d	1	0.25mi
5177 NE 14th Pl Unit 1271934P Portland, OR	2.0–4.0	1.0–2.5	1764	$11,904	$6.75	59d	2	0.50mi
5403 NE 11th Ave Portland, OR	4.0	3.0	3725	$4,200	$1.13	93d	1	0.53mi
2446 NE 7th Ave Portland, OR	4.0	3.0	3346	$5,495	$1.64	13d	1	1.02mi
140 NE Sacramento St Portland, OR	3.0–5.0	3.5–5.0	2223	$4,250	$1.91	69d	2	1.08mi
4412 N Maryland Ave Portland, OR	5.0	2.0	2992	$3,500	$1.17	53d	1	1.10mi
6445 N Williams Ave Portland, OR	4.0	3.0	2776	$3,995	$1.44	30d	1	1.11mi
5016 NE 29th Ave Unit 1309850P Portland, OR	4.0	1.0	2325	$7,622	$3.28	51d	1	1.12mi
7114 NE 8th Ave Unit A Portland, OR	4.0	3.5	2471	$4,075	$1.65	37d	1	1.37mi
1827 N Skidmore St Portland, OR	4.0	2.0	2229	$3,800	$1.70	19d	1	1.39mi
6711 N Albina Ave Portland, OR	4.0	1.5	2132	$2,995	$1.40	24d	1	1.40mi

Property features AI

Exterior

• Parking: Driveway parkingOff-street parking
• Utilities: Gas fuelPublic waterPublic sewer
• Home design: Single-family residenceResidential property (resale)No attached units
• Construction: Built in 1902Composition roofOther foundation
• Exterior features: Wood sidingLot roughly 5,000–6,999 sq ft

Interior

• Kitchen: Main kitchen on main level (approx. 14 x 11)Second kitchen on upper level (approx. 11 x 8)
• Bedrooms: Primary bedroom on main level (approx. 12 x 10)Second bedroom on main level (approx. 10 x 8)Third bedroom on main level (approx. 13 x 9)Fourth bedroom on upper level (approx. 14 x 12)Fifth bedroom on upper level (approx. 10 x 10)
• Bathrooms: Two full bathrooms (one on main level, one on upper level)
• Heating & cooling: Forced air heatingMini split heating and cooling
• Interior features: Full basement with storage spaceDining roomGreat roomFamily roomLiving room
• Laundry & utility: Basement storage and utility space

Listing history 50 events

1. 2026-08-08
   days on market $725,000 Active 104 DOM
2. 2026-08-06
   days on market $725,000 Active 102 DOM
3. 2026-08-05
   days on market $725,000 Active 101 DOM
4. 2026-08-04
   days on market $725,000 Active 100 DOM
5. 2026-08-03
   pricedays on market $725,000 Active 99 DOM
6. 2026-07-31
   days on market $775,000 Active 96 DOM
7. 2026-07-30
   days on market $775,000 Active 95 DOM
8. 2026-07-30
   days on market $775,000 Active 94 DOM
9. 2026-07-28
   days on market $775,000 Active 93 DOM
10. 2026-07-26
    days on market $775,000 Active 91 DOM
11. 2026-07-24
    days on market $775,000 Active 89 DOM
12. 2026-07-23
    days on market $775,000 Active 88 DOM
13. 2026-07-22
    days on market $775,000 Active 87 DOM
14. 2026-07-21
    days on market $775,000 Active 86 DOM
15. 2026-07-20
    days on market $775,000 Active 85 DOM
16. 2026-07-18
    days on market $775,000 Active 83 DOM
17. 2026-07-18
    days on market $775,000 Active 82 DOM
18. 2026-07-16
    days on market $775,000 Active 81 DOM
19. 2026-07-15
    days on market $775,000 Active 80 DOM
20. 2026-07-14
    days on market $775,000 Active 79 DOM
21. 2026-07-13
    days on market $775,000 Active 78 DOM
22. 2026-07-13
    days on market $775,000 Active 77 DOM
23. 2026-07-11
    days on market $775,000 Active 76 DOM
24. 2026-07-10
    days on market $775,000 Active 75 DOM
25. 2026-07-09
    days on market $775,000 Active 74 DOM
26. 2026-07-07
    days on market $775,000 Active 72 DOM
27. 2026-07-06
    days on market $775,000 Active 71 DOM
28. 2026-07-05
    days on market $775,000 Active 70 DOM
29. 2026-07-03
    days on market $775,000 Active 68 DOM
30. 2026-07-02
    days on market $775,000 Active 67 DOM
31. 2026-07-01
    days on market $775,000 Active 66 DOM
32. 2026-06-30
    days on market $775,000 Active 65 DOM
33. 2026-06-29
    days on market $775,000 Active 64 DOM
34. 2026-06-28
    days on market $775,000 Active 63 DOM
35. 2026-06-27
    days on market $775,000 Active 62 DOM
36. 2026-06-26
    days on market $775,000 Active 61 DOM
37. 2026-06-24
    days on market $775,000 Active 59 DOM
38. 2026-06-22
    days on market $775,000 Active 57 DOM
39. 2026-06-21
    days on market $775,000 Active 56 DOM
40. 2026-06-18
    days on market $775,000 Active 53 DOM
41. 2026-06-17
    days on market $775,000 Active 52 DOM
42. 2026-06-16
    days on market $775,000 Active 51 DOM
43. 2026-06-15
    days on market $775,000 Active 50 DOM
44. 2026-06-13
    days on market $775,000 Active 48 DOM
45. 2026-06-09
    days on market $775,000 Active 44 DOM
46. 2026-06-08
    days on market $775,000 Active 43 DOM
47. 2026-06-07
    days on market $775,000 Active 42 DOM
48. 2026-06-03
    days on market $775,000 Active 38 DOM
49. 2026-06-02
    days on market $775,000 Active 37 DOM
50. 2026-06-01
    days on market $775,000 Active 36 DOM

ⓘ 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 1/10 Low
• 🌡 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 · 20 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,547
• − Mortgage interest: −$40,611
• − Property taxes: −$10,875
• − Insurance: −$3,625
• − Repairs & maintenance: −$3,724
• − Management: −$3,724
• − Depreciation: −$21,091
• Taxable loss: −$37,103
• Est. tax savings @ 24.0%: +$8,905
• After-tax cash flow: $-14,447/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab Est. rehab $15,260–$45,780 screening

This well-maintained and thoughtfully designed duplex in NE Portland is move-in ready with minimal updates needed to enhance its resale and rental value.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Reorganizing furniture for better flow in living room — Improved layout maximizes space and enhances comfort ↑
• Both Upgrading light fixtures in dining area — Modern lighting enhances ambiance and value ↑
• Both Adding smart home features — Enhances convenience and adds modern appeal ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

Zoned Schools

Elementary Sabin Elementary School Middle Harriet Tubman Middle School High Grant High School

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

B Composite livability gradescore 77/100

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 · 930,825 people
• City population: 774,334
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 33,769
• Household income: $112,586
• Rent vs Own: 37.6% rent · 62.4% own
• Severe rent burden: 15% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Two or more races 12% Black 10% Hispanic / Latino 9% Asian 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 3% Lithuanian 3% Slovak 3%
• Foreign-born: 7% · Canada, Vietnam, China
• Languages at home: 88% English-only · Spanish 6% French/Haitian/Cajun 1% Vietnamese 1%

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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: ▼ -813.54%
• Current HPI: 372.7719
• Rent YoY: ▲ 0.52%
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• State GDP YoY: ▲ 2.05%
• F500 in state: 2

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Industry mix (Fortune 500 HQ in OR)

Industry	F500 HQs	Revenue
▸Consumer Goods	1	$51B

Property features AI

Exterior

• Parking: Driveway parkingOff-street parking
• Utilities: Gas fuelPublic waterPublic sewer
• Home design: Single-family residenceResidential property (resale)No attached units
• Construction: Built in 1902Composition roofOther foundation
• Exterior features: Wood sidingLot roughly 5,000–6,999 sq ft

Interior

• Kitchen: Main kitchen on main level (approx. 14 x 11)Second kitchen on upper level (approx. 11 x 8)
• Bedrooms: Primary bedroom on main level (approx. 12 x 10)Second bedroom on main level (approx. 10 x 8)Third bedroom on main level (approx. 13 x 9)Fourth bedroom on upper level (approx. 14 x 12)Fifth bedroom on upper level (approx. 10 x 10)
• Bathrooms: Two full bathrooms (one on main level, one on upper level)
• Heating & cooling: Forced air heatingMini split heating and cooling
• Interior features: Full basement with storage spaceDining roomGreat roomFamily roomLiving room
• Laundry & utility: Basement storage and utility space

Price history

-3.0% since first listed

8 events — show timeline

• 2026-05-20 Price Changed $775,000 RMLS
• 2026-05-20 Price Changed $775,000 RMLS
• 2026-05-01 Relisted — RMLS
• 2026-05-01 Relisted — RMLS
• 2026-04-16 Pending — RMLS
• 2026-04-16 Pending — RMLS
• 2026-04-10 Listed $799,000 RMLS
• 2026-04-10 Listed $799,000 RMLS