32938 SW Acacia Ct #72 · Cornelius, OR 97113

$209,950

2 bd · 2.0 ba · 854 sqft · Manufactured public records · 2 Days on market

Built 2001

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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).

• Cash flow +8.3/30.0
• ARV discount +7.5/15.0
• Livability +4.1/5.0
• Schools +3.7/10.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Rare opportunity to own a beautifully updated 3-bedroom, 2-bath double-wide manufactured home in a quiet ALL-AGES community in Cornelius with incredibly low space rent of just $588/month — including water, sewer, and garbage. With 1,512 sq ft of move-in-ready living space, this 2001 home offers an exceptional combination of affordability, comfort, and major upgrades already completed. Inside, you’ll love the spacious open floor plan with vaulted ceilings, creating a bright and airy feel throughout the main living areas. The kitchen is a true highlight, featuring all new stainless steel appliances, stylish subway tile backsplash, under-cabinet lighting, brushed brass accents, and

Key facts

• Low space rent
• Garage
• Built 2001

Tags

• UPDATED MANUFACTURED HOME
• QUIET ALL-AGES COMMUNITY
• LOW SPACE RENT
• MOVE-IN-READY LIVING SPACE
• SPACIOUS OPEN FLOOR PLAN
• NEW STAINLESS STEEL APPLIANCES

Property features AI

Finance

• Other: Lot rent amount charged monthly
• HOA & community: Located in Westview Trailer Park; Monthly lot rent

Exterior

• Parking: Driveway parking; One-space carport
• Utilities: Electric hot water; Electric fuel; Well water; Cesspool sewer
• Home design: Manufactured home in a park (residential); Single-story / main living on one level; Built in 2001; No notable view
• Construction: Composition roof; Manufactured construction; Crawl space foundation
• Exterior features: Deck; Fenced yard; Porch; Raised garden beds; Tool shed; Yard; T-111 siding

Interior

• Kitchen: Dishwasher; Free-standing range; Range hood; Kitchen island; Pantry
• Bedrooms: Primary bedroom on main level with en suite bathroom, double sinks and walk-in closet; Second bedroom on main level with closet; Third bedroom on main level with closet
• Flooring: Laminate flooring throughout main living areas and bedrooms
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Forced-air heating; No central cooling
• Interior features: One-level accessibility; Vaulted ceilings; Storm windows; Laundry area with exterior entry
• Laundry & utility: Main-level laundry (exterior entry)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $210k.

Deal economics

• At list price, monthly cash flow is $-191 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $182k (13.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $160k (24.0% below list).
• Recommended offer: $160k (24.0% below list) — sets the bar for 1% rule.
• Cap rate 5.2% vs local median 2.9% in Cornelius — 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 82/100 on livability (#47 in OR, #1,193 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: amenities C-, cost of living C-.
• Hillsboro SD 1J (urban): math 35% / reading 46% proficiency, ranked #13 of 58 in OR (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Farmington View Elementary School (math 30% / reading 47%, grade F, #195 of 412 statewide, top 47%, 245 students, 35% FRL); South Meadows Middle School (math 22% / reading 47%, grade F, #61 of 128 statewide, top 54%, 709 students, 68% FRL); Hillsboro High School (math 50% / reading 70%, grade C+, #23 of 143 statewide, top 19%, 1,359 students, 68% FRL) — zoned schools average 57% FRL vs 40% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 113 active listings in the ZIP; 2,224 units permitted in Washington County in 2024 (242 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 $6k of value loss. Plan a longer hold.
• Washington County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $159,532 (24.0% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
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: 0.76% ✗
• Cap rate: 5.20%
• Cash-on-cash: -3.89%
• DSCR: 0.83
• GRM: 11.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -22.8%
• Equity multiple: 0.22×
• Total profit: $-46,137
• Equity at exit: $31,304

10-year hold

• IRR: -17.2%
• Equity multiple: 0.05×
• Total profit: $-55,710
• Equity at exit: $18,153

Cash invested: $58,786 (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 97113

• Active inventory: 113
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,595 medium
• Mortgage (P&I): −$1,101
• Tax est. 1.5%: −$262 /mo · $3,149/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $-191

Break-even live

Break-even rent $1,837

Max offer price $182,368

Occupancy floor —

Sensitivity live

Price	-10% $-46	-5% $-118	+0% $-191	+5% $-263	+10% $-336
Rent	-10% $-317	-5% $-254	+0% $-191	+5% $-128	+10% $-65
Rate	-1.0pp $-85	-0.5pp $-137	base $-191	+0.5pp $-245	+1.0pp $-300

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: $52,488
• Closing costs: $6,298
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-04-11
   status Pending
2. 2026-04-09
   listed $209,950 Active

ⓘ 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 8/10 Severe 11 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,144
• − Mortgage interest: −$11,760
• − Property taxes: −$3,149
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,532
• − Management: −$1,532
• − Depreciation: −$6,108
• Taxable loss: −$5,986
• Est. tax savings @ 24.0%: +$1,437
• After-tax cash flow: $-851/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: Hillsboro SD 1J
• NCES district ID: 4100023
• Math proficiency: 35% ▼ -4.00%
• Reading proficiency: 46% ▼ -7.00%
• Median HH income: $68,587
• Composite: 36.64/100
• National rank: #4617
• State rank: #13 of 58 in OR

Livability — Cornelius

• Score: 82/100
• State rank: #47
• US rank: #1193

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 15,621

Population outlook (Washington County) Hauer SSP2

• Today (2025): 674,042 people
• By 2030: 721,804 · +7.1%
• By 2040: 812,732 · +20.6%
• By 2050: 895,143 · +32.8%
• By 2075: 1,058,806 · +57.1%
• By 2100: 1,131,692 · +67.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Hispanic / Latino 47% White 46% Two or more races 13% Native American 4% Asian 2%
• Hispanic origin (detail): Mexican 42%
• Common ancestry: Iranian 3% Italian 2% Portuguese 2%
• Foreign-born: 24% · Canada, China, Vietnam
• Languages at home: 55% English-only · Spanish 42% Other Indo-European 1% Chinese 1%

Political lean MEDSL · Washington

• 2024 margin: Solid D (+34.0) · D 65.3% · R 31.3% · Other 3.4%
• 2008→2024 swing: +11.8pp toward D · 2008: 22.1pp · 2024: 34.0pp
• All cycles: 2024: D+34.0 2020: D+34.6 2016: D+26.7 2012: D+17.5 2008: D+22.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -171.16%
• Current HPI: 285.7514
• Rent YoY: —
• Metro: —
• 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

2 events — show timeline

• 2026-04-11 Pending — RMLS
• 2026-04-09 Listed $209,950 RMLS

Property tax history

-40.2%/yr

Latest (2015): $6 · +0.0% YoY. Source: county tax records.