6636 N Richmond Ave · Portland, OR 97203

$149,950

2 bd · 1.0 ba · 698 sqft · SingleFamily public records · 184 Days on market

Built 1897 9,583 sqft lot $215/sqft · 63% 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 +16.5/30.0
• ARV discount +7.5/15.0
• 1% rule +5.1/10.0
• DSCR +5.1/10.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Showings subject to accepted offer. Investor opportunity in Cathedral Park on a nearly 10,000 sq ft CM3-zoned lot. Property is located within the Richmond/Crawford Improvement Project area; planned improvements, timelines, and associated costs apply e City of Portland link buyer to perform all due diligence. Convenient location near downtown St. Johns, shops, and parks. No sign on property. Do not disturb tenant.

Key facts

• Cm3 zoned lot
• Parks
• Local shops

Tags

• CM3 ZONED LOT
• MINUTES FROM DOWNTOWN ST JOHNS
• LOCAL SHOPS
• PARKS

🏷️ Possibly a rental listed for sale. The $149,950 price doesn't fit this home's estimated sale value (~$408,071) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $89 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.0% 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.
• Zoned schools: Richmond Elementary School (539 students, 5% FRL); Da Vinci Middle School (434 students, 34% FRL); Roosevelt High School (1,484 students, 65% FRL) — zoned schools at 35% FRL track the district average.
• Market conditions: Rents rising (+2.1%/yr); 207 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $1k of loan paydown is wiped out by about $4k 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 184 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $50k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1897 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $131,956 (12.0% below list)

Questions for the listing agent

1. It's been on market 184 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1897 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.01% ✓
• Cap rate: 7.00%
• Cash-on-cash: 2.54%
• DSCR: 1.11
• GRM: 8.2

CMA / ARV

• ARV (median comp): $408,071
• List price: $149,950
• Delta: -63.25%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6636 N Richmond Ave	0.00mi	2/1.0	698 (0%)	0mo	$149,950	$215	100
7609 N Leonard St	0.58mi	2/1.0	757 (+8%)	13mo	$425,000	$561	48
7400 N Syracuse St	0.47mi	2/1.0	786 (+13%)	18mo	$390,000	$496	42
9126 N Leonard St	0.70mi	2/1.0	768 (+10%)	15mo	$420,000	$547	39
7037 N Saint Louis Ave	0.61mi	2/1.0	792 (+14%)	13mo	$377,500	$477	38

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 · 2.11% rent growth · sell at horizon

5-year hold

• IRR: -13.3%
• Equity multiple: 0.53×
• Total profit: $-19,925
• Equity at exit: $22,358

10-year hold

• IRR: -5.8%
• Equity multiple: 0.64×
• Total profit: $-15,223
• Equity at exit: $12,965

Cash invested: $41,986 (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 97203

• Rents YoY: 2.1%
• Active inventory: 207
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,517 high
• Mortgage (P&I): −$786
• Tax from tax record: −$261 /mo · $3,129/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $89

Break-even live

Break-even rent $1,405

Max offer price $149,950

Occupancy floor 89%

Sensitivity live

Price	-10% $174	-5% $131	+0% $89	+5% $46	+10% $4
Rent	-10% $-31	-5% $29	+0% $89	+5% $149	+10% $209
Rate	-1.0pp $164	-0.5pp $127	base $89	+0.5pp $50	+1.0pp $10

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: $37,488
• Closing costs: $4,498
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6804-6838 N Richmond Ave Unit 6830 Portland, OR	1.0	1.0	600	$1,195	$1.99	45d	1	0.10mi
6830 N Richmond Ave Portland, OR	1.0	1.0	600	$1,195	$1.99	45d	1	0.11mi
8222 N Edison St Portland, OR	2.0	1.0	750	$1,400	$1.87	0d	1	0.12mi
8230 N Edison St Portland, OR	2.0	1.0	750	$1,425	$1.90	3d	1	0.12mi
7045 N Mohawk Ave Portland, OR	1.0–2.0	1.0–1.5	637	$1,600	$2.51	6d	3	0.23mi
6855 N Burlington Ave Portland, OR	1.0	1.0	504	$1,355	$2.69	25d	1	0.25mi
6855 N Burlington Ave Portland, OR	1.0	1.0	525	$1,360	$2.59	45d	1	0.25mi
6520 N Salem Ave Portland, OR	2.0	1.0	571	$1,505	$2.63	45d	1	0.27mi
7032 N Burlington Ave Portland, OR	2.0	1.0	750	$1,749	$2.33	22d	1	0.29mi
7037 N Burlington Ave #3 Portland, OR	2.0	1.0	683	$1,975	$2.89	45d	1	0.31mi
7102 N Alta Ave Unit BRI-7102 Portland, OR	1.0	1.0	675	$1,385	$2.05	19d	1	0.39mi
7227 N Philadelphia Ave Portland, OR	2.0	1.0–2.0	620	$1,835	$2.96	0d	17	0.41mi
7112 N Alta Ave Unit BRI-7112 Portland, OR	1.0	1.0	675	$1,385	$2.05	19d	1	0.41mi
7428 N Charleston Ave Portland, OR	1.0	1.0	553	$1,695	$3.07	0d	4	0.41mi
7373 N Philadelphia Ave Portland, OR	1.0	1.0	529	$1,515	$2.86	25d	6	0.42mi
8015 N Oswego Ave Unit 3 Portland, OR	3.0	1.0	725	$1,795	$2.48	9d	1	0.51mi
8015 N Oswego Ave Unit 2 Portland, OR	2.0	1.0	580	$1,495	$2.58	16d	1	0.51mi
8015 N Oswego Ave Unit 4 Portland, OR	2.0	1.0	720	$1,650	$2.29	16d	1	0.51mi
7676 N Lombard St Portland, OR	1.0	1.0	550	$1,319	$2.40	25d	1	0.52mi
7686 N Lombard St Portland, OR	1.0	1.0	550	$1,399	$2.54	25d	1	0.53mi
7550 N Lombard St Portland, OR	1.0	1.0	541	$1,515	$2.80	25d	1	0.55mi
8922 N Kellogg St Portland, OR	1.0–2.0	1.0–1.5	780	$1,899	$2.43	0d	5	0.57mi
7016 N Amherst St Apt 2 Portland, OR	1.0	1.0	520	$1,095	$2.11	0d	1	0.60mi
9000 N Ivanhoe St Portland, OR	1.0	1.0	432	$1,299	$3.00	25d	4	0.60mi
6816 N Trumbull Ave Portland, OR	1.0	1.0	692	$1,163	$1.68	45d	1	0.65mi
9426 N Edison St Apt 1 Portland, OR	1.0	1.0	550	$1,800	$3.27	45d	1	0.76mi
8415 N Fessenden St Unit 10 Portland, OR	1.0	1.0	700	$1,125	$1.61	19d	1	0.93mi
8353 N Fox St Unit 1 Portland, OR	1.0	1.0	400	$1,195	$2.99	18d	1	0.98mi
7515 N Westanna Ave Unit 1 Portland, OR	1.0	1.0	725	$1,495	$2.06	45d	1	1.05mi
7515 N Westanna Ave Unit 14 Portland, OR	1.0	1.0	725	$1,525	$2.10	0d	1	1.05mi
7515 N Westanna Ave Unit 2 Portland, OR	1.0	1.0	725	$1,495	$2.06	25d	1	1.05mi
7515 N Westanna Ave Unit 9 Portland, OR	1.0	1.0	725	$1,495	$2.06	0d	1	1.05mi
7515 N Westanna Ave Portland, OR	1.0–2.0	1.0	787	$1,795	$2.28	9d	3	1.05mi
6375 N Lombard St Portland, OR	1.0	1.0	574	$1,495	$2.60	9d	1	1.08mi
8937 N Westanna Ave Portland, OR	1.0–2.0	1.0	677	$1,675	$2.47	4d	9	1.10mi
6734 N Fessenden St Portland, OR	1.0–2.0	1.0	700	$1,499	$2.14	22d	8	1.19mi
5929 N Lombard St Unit 3 Portland, OR	2.0	1.0	600	$1,100	$1.83	25d	1	1.23mi
5515 N Syracuse St Portland, OR	2.0	1.0	750	$2,573	$3.43	19d	1	1.29mi
6347 N Fessenden St Portland, OR	1.0	1.0	600	$1,249	$2.08	15d	1	1.30mi
6347 N Fessenden St Portland, OR	1.0	1.0	600	$1,582	$2.64	45d	1	1.30mi

Listing history 10 events

1. 2026-05-18
   status Pending 417-char remark

   Show marketing remark (417 chars)

   Showings subject to accepted offer. Investor opportunity in Cathedral Park on a nearly 10,000 sq ft CM3-zoned lot. Property is located within the Richmond/Crawford Improvement Project area; planned improvements, timelines, and associated costs apply e City of Portland link buyer to perform all due diligence. Convenient location near downtown St. Johns, shops, and parks. No sign on property. Do not disturb tenant.

2. 2026-05-01
   status Active 417-char remark

   Show marketing remark (417 chars)

   Showings subject to accepted offer. Investor opportunity in Cathedral Park on a nearly 10,000 sq ft CM3-zoned lot. Property is located within the Richmond/Crawford Improvement Project area; planned improvements, timelines, and associated costs apply e City of Portland link buyer to perform all due diligence. Convenient location near downtown St. Johns, shops, and parks. No sign on property. Do not disturb tenant.

3. 2026-01-09
   price $179,950 417-char remark

   Show marketing remark (417 chars)

   Showings subject to accepted offer. Investor opportunity in Cathedral Park on a nearly 10,000 sq ft CM3-zoned lot. Property is located within the Richmond/Crawford Improvement Project area; planned improvements, timelines, and associated costs apply e City of Portland link buyer to perform all due diligence. Convenient location near downtown St. Johns, shops, and parks. No sign on property. Do not disturb tenant.

4. 2026-01-09
   status Active 417-char remark

   Show marketing remark (417 chars)

   Showings subject to accepted offer. Investor opportunity in Cathedral Park on a nearly 10,000 sq ft CM3-zoned lot. Property is located within the Richmond/Crawford Improvement Project area; planned improvements, timelines, and associated costs apply e City of Portland link buyer to perform all due diligence. Convenient location near downtown St. Johns, shops, and parks. No sign on property. Do not disturb tenant.

5. 2025-12-31
   status Pending 417-char remark

   Show marketing remark (417 chars)

   Showings subject to accepted offer. Investor opportunity in Cathedral Park on a nearly 10,000 sq ft CM3-zoned lot. Property is located within the Richmond/Crawford Improvement Project area; planned improvements, timelines, and associated costs apply e City of Portland link buyer to perform all due diligence. Convenient location near downtown St. Johns, shops, and parks. No sign on property. Do not disturb tenant.

6. 2025-11-12
   status Active 417-char remark

   Show marketing remark (417 chars)

   Showings subject to accepted offer. Investor opportunity in Cathedral Park on a nearly 10,000 sq ft CM3-zoned lot. Property is located within the Richmond/Crawford Improvement Project area; planned improvements, timelines, and associated costs apply e City of Portland link buyer to perform all due diligence. Convenient location near downtown St. Johns, shops, and parks. No sign on property. Do not disturb tenant.

7. 2025-11-04
   status Pending 417-char remark

   Show marketing remark (417 chars)

   Showings subject to accepted offer. Investor opportunity in Cathedral Park on a nearly 10,000 sq ft CM3-zoned lot. Property is located within the Richmond/Crawford Improvement Project area; planned improvements, timelines, and associated costs apply e City of Portland link buyer to perform all due diligence. Convenient location near downtown St. Johns, shops, and parks. No sign on property. Do not disturb tenant.

8. 2025-10-29
   listed $199,950 Active 417-char remark

   Show marketing remark (417 chars)

   Showings subject to accepted offer. Investor opportunity in Cathedral Park on a nearly 10,000 sq ft CM3-zoned lot. Property is located within the Richmond/Crawford Improvement Project area; planned improvements, timelines, and associated costs apply e City of Portland link buyer to perform all due diligence. Convenient location near downtown St. Johns, shops, and parks. No sign on property. Do not disturb tenant.

9. 2006-10-04
   soldstatus $215,000
10. 1994-04-15
    soldstatus $44,999

ⓘ 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: $3,129 · $261/mo
• Projected year-2 tax: $3,129 · $261/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 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 9/10 Extreme 12 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,202
• − Mortgage interest: −$8,400
• − Property taxes: −$3,129
• − Insurance: −$750
• − Repairs & maintenance: −$1,456
• − Management: −$1,456
• − Depreciation: −$4,362
• Taxable loss: −$1,350
• Est. tax savings @ 24.0%: +$324
• After-tax cash flow: $1,389/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): 33,116
• Household income: $78,660
• Rent vs Own: 43.0% rent · 57.0% own
• Severe rent burden: 1401.0

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 0.65)
• Race & ethnicity: White 55% Hispanic / Latino 17% Two or more races 16% Black 12% Asian 6% Native American 1% Pacific Islander 1%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Italian 3% Portuguese 3% Slovak 3%
• Foreign-born: 10% · Canada, China
• Languages at home: 81% English-only · Spanish 11% Other Asian/Pacific 3% Other Indo-European 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: ▼ -356.36%
• Current HPI: 348.4979
• Rent YoY: ▲ 2.11%
• 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

+299.9% since first listed

10 events — show timeline

• 2026-05-18 Pending — RMLS
• 2026-05-01 Relisted — RMLS
• 2026-01-09 Price Changed $179,950 RMLS
• 2026-01-09 Relisted — RMLS
• 2025-12-31 Pending — RMLS
• 2025-11-12 Relisted — RMLS
• 2025-11-04 Pending — RMLS
• 2025-10-29 Listed $199,950 RMLS
• 2006-10-04 Sold (Public Records) $215,000 Public Records
• 1994-04-15 Sold (Public Records) $44,999 Public Records

Property tax history

+4.4%/yr

Latest (2025): $3,129 · +3.7% YoY. Source: county tax records.