8325 SE Division St · Portland, OR 97266

$645,000

5 bd · 6.0 ba · 5,500 sqft · MultiFamily · 5 Days on market

Built 1930 6,534 sqft lot $117/sqft · 42% below area Est $906k · 29% under

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Why this score? — see what drove the C 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 +18.6/30.0
• ARV discount +15.0/15.0
• DSCR +5.8/10.0
• 1% rule +5.0/10.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Mixed use property with 4 apts and approx 1300 SF retail space available. Great location for business venture right on Division. 2 rear units may be converted back to approx 1700 SF home. To be sold "as is".

Key facts

• 6,534 sq ft lot
• 6 parking spots
• Built 1930

Property features AI

Finance

• Other: Building total area approximately 5,500
• Financial info: Five total units; Unit mix: one larger unit (~1,431 area) plus four smaller units (approximately 504–773 area); Current rents reported for four units: $1,067; $1,413; $1,400; $1,200; Rent covers water, sewer, and trash for tenants; Cap rate: 7.85; Gross rent multiplier: 10.58
• HOA & community: Zoned CM2

Exterior

• Parking: Driveway parking; Parking for 6 vehicles
• Utilities: Public water; Public sewer; Electric-powered systems
• Home design: Multi-family property; Detached building; Built in 1930
• Construction: Wood siding construction; Year built: 1930
• Exterior features: Wood siding; Level lot; Paved road access

Interior

• Kitchen: Electric hot water
• Bedrooms: One 2-bedroom unit; Three 1-bedroom units
• Bathrooms: One 2-bath unit; Four 1-bath units
• Heating & cooling: Forced air heating; Wall heaters; No central cooling
• Interior features: Storage in basement; Unfinished basement
• Laundry & utility: Electric utility service

What this means for you Summary

Snapshot

• This is a 5-bed/6.0-bath multifamily listed at $645k.

Deal economics

• At list price, monthly cash flow is $623 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $643k (0.3% below list).
• Recommended offer: $643k (0.3% below list) — sets the bar for 1% rule.
• Cap rate 7.5% 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: Harrison Park School (573 students, 66% FRL); Leodis V. Mcdaniel High School (1,440 students, 65% FRL) — zoned schools average 65% FRL vs 37% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.1%/yr); 210 active listings in the ZIP; 2,041 units permitted in Multnomah County in 2024 (905 in 5+ unit buildings).
• At $6,431/mo this rent would consume 106% of the median local household income ($73k/yr) (locally 2167% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $19k 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

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 19y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $505k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $643,100 (0.3% below list)

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.00% ✗
• Cap rate: 7.45%
• Cash-on-cash: 4.14%
• DSCR: 1.18
• GRM: 8.4

CMA / ARV

• ARV (median comp): $905,665
• List price: $645,000
• Delta: -22.93%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -13.2%
• Equity multiple: 0.54×
• Total profit: $-83,586
• Equity at exit: $96,172

10-year hold

• IRR: -9.8%
• Equity multiple: 0.48×
• Total profit: $-94,129
• Equity at exit: $55,768

Cash invested: $180,600 (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 97266

• Rents YoY: -0.1%
• Active inventory: 210
• Price-to-rent: 33.4×

Monthly cashflow live

• Estimated rent: $6,431 high
• Mortgage (P&I): −$3,382
• Tax est. 1.5%: −$806 /mo · $9,675/yr
• Insurance: −$269
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,351
• Net cashflow: $623

Break-even live

Break-even rent $5,642

Max offer price $645,000

Occupancy floor 85%

Sensitivity live

Price	-10% $1,069	-5% $846	+0% $623	+5% $400	+10% $177
Rent	-10% $115	-5% $369	+0% $623	+5% $877	+10% $1,131
Rate	-1.0pp $948	-0.5pp $787	base $623	+0.5pp $456	+1.0pp $286

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$6,432
Total (4 units)			$6,431

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: $161,250
• Closing costs: $19,350
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-21
   days on market $645,000 Active 5 DOM
2. 2026-06-18
   days on market $645,000 Active 2 DOM
3. 2026-06-17
   pricedays on marketlisting id $645,000 Active 1 DOM
4. 2026-01-20
   price $698,000 695-char remark
5. 2026-01-20
   price $689,000 695-char remark
6. 2025-11-13
   price $725,000 695-char remark
7. 2025-10-14
   price $748,000 695-char remark
8. 2025-09-04
   price $795,000 695-char remark
9. 2025-07-22
   price $848,000 695-char remark
10. 2025-06-23
    price $875,000 695-char remark
11. 2025-05-06
    price $950,000 695-char remark
12. 2025-04-03
    listed $1,050,000 Active 695-char remark
13. 2007-06-07
    soldstatus $505,000 220-char remark

    Show marketing remark (220 chars)

    Mixed use property with 4 apts and approx 1300 SF retail space available. Great location for business venture right on Division. 2 rear units may be converted back to approx 1700 SF home. To be sold "as is".

14. 2007-05-29
    historical 220-char remark

    Show marketing remark (220 chars)

    Mixed use property with 4 apts and approx 1300 SF retail space available. Great location for business venture right on Division. 2 rear units may be converted back to approx 1700 SF home. To be sold "as is".

15. 2007-04-23
    listed $625,000 220-char remark

    Show marketing remark (220 chars)

    Mixed use property with 4 apts and approx 1300 SF retail space available. Great location for business venture right on Division. 2 rear units may be converted back to approx 1700 SF home. To be sold "as is".

ⓘ 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

• 🌡 Heat 3/10 Moderate
• 🫁 Air quality 10/10 Extreme 19 unhealthy d/yr today · 21 by 30 yrs out

Taxation est. · year 1

• Rental income: $77,172
• − Mortgage interest: −$36,130
• − Property taxes: −$9,675
• − Insurance: −$3,225
• − Repairs & maintenance: −$6,174
• − Management: −$6,174
• − Depreciation: −$18,764
• Taxable loss: −$2,969
• Est. tax savings @ 24.0%: +$713
• After-tax cash flow: $8,189/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): 35,423
• Household income: $72,577
• Rent vs Own: 45.9% rent · 54.1% own
• Severe rent burden: 2167.0

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 54% Asian 16% Hispanic / Latino 14% Two or more races 11% Black 7% Native American 2%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Italian 3% Slovak 2% Portuguese 2%
• Foreign-born: 21% · China, Vietnam, Canada
• Languages at home: 70% English-only · Spanish 9% Vietnamese 6% Chinese 6%

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: ▼ -300.41%
• Current HPI: 308.6145
• Rent YoY: ▼ -0.09%
• 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

+3.2% since first listed

4 events — show timeline

• 2026-06-16 Listed $645,000 RMLS
• 2007-06-07 Sold (MLS) $505,000 RMLS
• 2007-05-29 Delisted — RMLS
• 2007-04-23 Listed $625,000 RMLS