16300 SE Highway 224 #21 · Happy Valley, OR 97089

$85,000

2 bd · 2.0 ba · 1,080 sqft · Other · 182 Days on market

Built 1966 $79/sqft · 72% above area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

An affordable way to live near the river. Just look out the window for a beautiful view within walking distance. Come walkthrough this 2 bedroom, 2 bath, 1080 square feet home. Freshly painted exterior 1966 mobile home fully fenced, front and back deck, porch sunroom, tool shed and carport. All the flowers you will want to bloom in the yard from spring to late fall. Seller to do no repairs. All buyers need approval from park and confirm rent space.

Key facts

• Tool shed
• Fully fenced
• Carport

Tags

• FRESHLY PAINTED EXTERIOR
• FULLY FENCED
• FRONT AND BACK DECK
• PORCH SUNROOM
• TOOL SHED
• CARPORT

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $85k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 28.6% vs local median 2.5% in Happy Valley — 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 76/100 on livability (#76 in OR, #3,386 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, cost of living F.
• North Clackamas SD 12 (suburban): math 29% / reading 43% proficiency, ranked #22 of 58 in OR (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 51 active listings in the ZIP; 946 units permitted in Clackamas County in 2024 (188 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Clackamas County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 182 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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 $60k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 182 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 1966 — 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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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.
7. 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.
8. 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: 3.23% ✓
• Cap rate: 28.58%
• Cash-on-cash: 79.58%
• DSCR: 4.54
• GRM: 2.6

CMA / ARV

• ARV (median comp): $49,305
• List price: $85,000
• Delta: 72.40%
• Verdict: OVERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 79.7%
• Equity multiple: 4.65×
• Total profit: $86,797
• Equity at exit: $12,674

10-year hold

• IRR: 83.2%
• Equity multiple: 9.62×
• Total profit: $205,197
• Equity at exit: $7,349

Cash invested: $23,800 (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 97089

• Active inventory: 51
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $2,742 medium
• Mortgage (P&I): −$446
• Tax est. 1.5%: −$106 /mo · $1,275/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$576
• Net cashflow: $1,578

Break-even live

Break-even rent $744

Max offer price $85,000

Occupancy floor 37%

Sensitivity live

Price	-10% $1,637	-5% $1,608	+0% $1,578	+5% $1,549	+10% $1,520
Rent	-10% $1,362	-5% $1,470	+0% $1,578	+5% $1,687	+10% $1,795
Rate	-1.0pp $1,621	-0.5pp $1,600	base $1,578	+0.5pp $1,556	+1.0pp $1,534

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-15
   days on market $85,000 Active 182 DOM
2. 2026-06-13
   days on market $85,000 Active 180 DOM
3. 2026-06-09
   days on market $85,000 Active 176 DOM
4. 2026-06-08
   days on market $85,000 Active 175 DOM
5. 2026-06-07
   days on market $85,000 Active 174 DOM
6. 2026-06-05
   days on market $85,000 Active 171 DOM
7. 2026-06-03
   days on market $85,000 Active 170 DOM
8. 2026-06-02
   days on market $85,000 Active 169 DOM
9. 2026-06-01
   days on market $85,000 Active 168 DOM
10. 2026-05-31
    days on market $85,000 Active 167 DOM
11. 2025-12-15
    listed $85,000 Active 452-char remark

    Show marketing remark (452 chars)

    An affordable way to live near the river. Just look out the window for a beautiful view within walking distance. Come walkthrough this 2 bedroom, 2 bath, 1080 square feet home. Freshly painted exterior 1966 mobile home fully fenced, front and back deck, porch sunroom, tool shed and carport. All the flowers you will want to bloom in the yard from spring to late fall. Seller to do no repairs. All buyers need approval from park and confirm rent space.

12. 2024-02-28
    soldstatus $59,500 Closed 799-char remark

    Show marketing remark (799 chars)

    Nicely cared for home near beautiful Carver Park. Carver Mobile Ranch is all ages and pet friendly! This 2 bedroom, 2 bath doublewide is located on a large corner lot with plentiful deck space, mature trees, landscaping, underground sprinkler system in the front yard, tool shed and a beautiful view of the Clackamas River. The covered front porch welcomes you into the large living room with ceiling fan and freestanding gas fireplace. Living room is open to the kitchen and dining room. Off of the kitchen there is a sunroom which leads out to the back deck, tool shed and spacious carport. Oversized primary bedroom offers built-ins and full bathroom. Great opportunity to live near town while being surrounded by nature. This home has tons of potential. And for less than the price of most rent!

13. 2024-01-19
    status Pending 799-char remark

    Show marketing remark (799 chars)

    Nicely cared for home near beautiful Carver Park. Carver Mobile Ranch is all ages and pet friendly! This 2 bedroom, 2 bath doublewide is located on a large corner lot with plentiful deck space, mature trees, landscaping, underground sprinkler system in the front yard, tool shed and a beautiful view of the Clackamas River. The covered front porch welcomes you into the large living room with ceiling fan and freestanding gas fireplace. Living room is open to the kitchen and dining room. Off of the kitchen there is a sunroom which leads out to the back deck, tool shed and spacious carport. Oversized primary bedroom offers built-ins and full bathroom. Great opportunity to live near town while being surrounded by nature. This home has tons of potential. And for less than the price of most rent!

14. 2024-01-16
    price $64,500 799-char remark

    Show marketing remark (799 chars)

    Nicely cared for home near beautiful Carver Park. Carver Mobile Ranch is all ages and pet friendly! This 2 bedroom, 2 bath doublewide is located on a large corner lot with plentiful deck space, mature trees, landscaping, underground sprinkler system in the front yard, tool shed and a beautiful view of the Clackamas River. The covered front porch welcomes you into the large living room with ceiling fan and freestanding gas fireplace. Living room is open to the kitchen and dining room. Off of the kitchen there is a sunroom which leads out to the back deck, tool shed and spacious carport. Oversized primary bedroom offers built-ins and full bathroom. Great opportunity to live near town while being surrounded by nature. This home has tons of potential. And for less than the price of most rent!

15. 2023-12-15
    listed $69,500 Active 799-char remark

    Show marketing remark (799 chars)

    Nicely cared for home near beautiful Carver Park. Carver Mobile Ranch is all ages and pet friendly! This 2 bedroom, 2 bath doublewide is located on a large corner lot with plentiful deck space, mature trees, landscaping, underground sprinkler system in the front yard, tool shed and a beautiful view of the Clackamas River. The covered front porch welcomes you into the large living room with ceiling fan and freestanding gas fireplace. Living room is open to the kitchen and dining room. Off of the kitchen there is a sunroom which leads out to the back deck, tool shed and spacious carport. Oversized primary bedroom offers built-ins and full bathroom. Great opportunity to live near town while being surrounded by nature. This home has tons of potential. And for less than the price of most rent!

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 14 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,898
• − Mortgage interest: −$4,761
• − Property taxes: −$1,275
• − Insurance: −$425
• − Repairs & maintenance: −$2,632
• − Management: −$2,632
• − Depreciation: −$2,473
• Taxable income: $18,701
• Est. tax owed @ 24.0%: −$4,488
• After-tax cash flow: $14,453/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: North Clackamas SD 12
• NCES district ID: 4108830
• Math proficiency: 29% ▼ -14.00%
• Reading proficiency: 43% ▼ -13.00%
• Median HH income: $60,217
• Composite: 32.1/100
• National rank: #5807
• State rank: #22 of 58 in OR

Livability — Happy Valley

• Score: 76/100
• State rank: #76
• US rank: #3386

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Happy Valley, OR
• City population: 34,567
• Population (ZIP): 14,906

Population outlook (Clackamas County) Hauer SSP2

• Today (2025): 458,456 people
• By 2030: 485,185 · +5.8%
• By 2040: 532,932 · +16.2%
• By 2050: 574,445 · +25.3%
• By 2075: 665,497 · +45.2%
• By 2100: 697,488 · +52.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 7% Asian 6% Two or more races 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 5% Portuguese 3% Italian 2%
• Foreign-born: 7% · Canada, Vietnam, China
• Languages at home: 90% English-only · Russian/Polish/Slavic 3% Spanish 3% Other Indo-European 1%

Political lean MEDSL · Clackamas

• 2024 margin: Lean D (+9.7) · D 53.4% · R 43.6% · Other 3.0%
• 2008→2024 swing: -0.6pp no change · 2008: 10.4pp · 2024: 9.7pp
• All cycles: 2024: D+9.7 2020: D+11.1 2016: D+6.1 2012: D+3.5 2008: D+10.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -206.70%
• Current HPI: 274.0579
• 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

+22.3% since first listed

5 events — show timeline

• 2025-12-15 Listed $85,000 RMLS
• 2024-02-28 Sold (MLS) $59,500 RMLS
• 2024-01-19 Pending — RMLS
• 2024-01-16 Price Changed $64,500 RMLS
• 2023-12-15 Listed $69,500 RMLS

Property tax history

-9.9%/yr

Latest (2016): $75 · +1150.0% YoY. Source: county tax records.