16745 SE Division St #298 · Portland, OR 97236

$55,000

2 bd · 1.0 ba · 672 sqft · Manufactured public records · 8 Days on market

Built 1968 Est $47k · 17% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Schools +3.5/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Stunning two bedroom one bathroom 672 sq ft 55+ manufactured home that is move in ready and very affordable, with a lot rent of $995. Completely redone from inside and out offering you that peace of mind. On the outside you'll find newer windows, fresh paint, new fully enclosed fenced yard, tasteful mature landscaping and great for gardening. The deep driveway and two sheds provide great convenience. The interior showcases new flooring, trim, paint, and an updated kitchen with gorgeous tile backsplash, bar seating, stainless steel appliances, a pantry and tasteful finishes. The bathroom was also completely redone and comes with stackable washer and dryer for extra convenience. The home also

Key facts

• Fresh paint
• Newer windows
• Mature landscaping

Tags

• NEWER WINDOWS
• FRESH PAINT
• FULLY ENCLOSED FENCED YARD
• MATURE LANDSCAPING
• DEEP DRIVEWAY
• TWO SHEDS

Property features AI

Finance

• Other: Corner, level and secluded lot on paved/concrete roads
• Financial info: Land lease (lot rent $995 monthly); land lease ends July 31, 2026
• HOA & community: Community amenities include lap pool, laundry facilities, meeting room and party room; Not a senior-only community

Exterior

• Utilities: Public water; Public sewer; Electric service
• Home design: Manufactured home in a park; Updated/remodeled; Single-story entry (one-level living); No significant view
• Construction: Built in 1968; Public building area 672; Foundation and structural details not specified
• Exterior features: Aluminum siding; Lap siding; Metal siding; Wood siding

Interior

• Kitchen: Built-in oven; Built-in range; Cook island; Free-standing range; Built-in refrigerator; Microwave; Pantry; Double sinks; Eating area; Island; Stainless steel appliances
• Bedrooms: Primary bedroom (lower level); Second bedroom (main level)
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Heat pump; Mini-split heating; Central air conditioning
• Interior features: Accessible, one-level living; Vinyl-framed windows
• Laundry & utility: Electric hot water

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $55k.

Deal economics

• At list price, monthly cash flow is $649 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Cap rate 20.4% 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.
• Centennial SD 28J (suburban): math 31% / reading 43% proficiency, ranked #125 of 183 in OR (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Oliver Middle (457 students, 69% FRL); Centennial High School (1,756 students, 65% FRL).
• Market conditions: Rents rising (+1.6%/yr); 204 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $380 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $55,000

Questions for the listing agent

1. Built in 1968 — 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 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: 2.37% ✓
• Cap rate: 20.44%
• Cash-on-cash: 50.54%
• DSCR: 3.25
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $47,040
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16901 SE Division St #74	0.05mi	1/1.0 (-1)	688 (+2%)	2mo	$29,500	$43	87
16901 SE Division St #56	0.05mi	1/1.0 (-1)	640 (-5%)	1mo	$45,000	$70	84
16901 SE Division St	0.06mi	1/1.0 (-1)	640 (-5%)	1mo	$45,000	$70	83
16745 SE Division St	0.07mi	2/1.0	672 (0%)	22mo	$35,000	$52	78
16901 SE Division St #43	0.05mi	2/1.0	756 (+12%)	5mo	$85,000	$112	73
16901 SE Division St #50	0.05mi	2/1.0	576 (-14%)	5mo	$34,000	$59	70
16901 SE Division St #60	0.05mi	2/1.0	768 (+14%)	8mo	$63,000	$82	67
16901 SE Division St #34	0.06mi	2/1.0	750 (+12%)	19mo	$44,500	$59	62

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 · 1.64% rent growth · sell at horizon

5-year hold

• IRR: 46.8%
• Equity multiple: 2.99×
• Total profit: $30,656
• Equity at exit: $8,201

10-year hold

• IRR: 51.9%
• Equity multiple: 5.74×
• Total profit: $72,944
• Equity at exit: $4,755

Cash invested: $15,400 (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 97236

• Rents YoY: 1.6%
• Active inventory: 204
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,302 high
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $825/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $649

Break-even live

Break-even rent $481

Max offer price $55,000

Occupancy floor 45%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16804 SE Division St Unit 3 Portland, OR	1.0	1.0	475	$1,200	$2.53	4d	1	0.20mi
2675 SE 162nd Ave Portland, OR	1.0–2.0	1.0	689	$1,495	$2.17	12d	1	0.42mi
17726 SE Division St Portland, OR	1.0–2.0	1.0–1.5	788	$1,575	$2.00	11d	3	0.57mi
17924 SE Division St Portland, OR	2.0–3.0	1.0	770	$1,349	$1.75	43d	3	0.65mi
15301-15353 SE Division St Unit 15335 Portland, OR	1.0	1.0	600	$1,150	$1.92	23d	1	0.72mi
16124 SE Alder St Apt 4 Portland, OR	1.0	1.0	750	$1,100	$1.47	43d	1	0.76mi
16124 SE Alder St Unit 19-B Portland, OR	1.0	1.0	500	$1,050	$2.10	23d	1	0.76mi
650 SE 162nd Ave Portland, OR	1.0–2.0	1.0	745	$1,349	$1.81	2d	9	0.79mi
17455 SE Washington Ct Portland, OR	1.0	1.0	681	$1,295	$1.90	7d	2	0.83mi
14992 SE Division St Unit 1 Bedroom Portland, OR	1.0	1.0	543	$999	$1.84	43d	1	0.93mi
14992 SE Division St Portland, OR	1.0–3.0	1.0	726	$1,174	$1.62	16d	3	0.93mi
16025 SE Stark St Portland, OR	1.0	1.0	629	$1,034	$1.64	43d	1	0.94mi
15847 SE Stark St Portland, OR	1.0–2.0	1.0	750	$1,295	$1.73	43d	4	0.97mi
17920 SE Stark St Unit 4 Portland, OR	1.0	1.0	560	$1,150	$2.05	43d	1	1.01mi
635 SE 182nd Ave Unit 669 Portland, OR	1.0	1.0	600	$1,150	$1.92	23d	1	1.05mi
16503 E Burnside St Portland, OR	1.0–3.0	1.0	797	$1,195	$1.50	43d	1	1.06mi
15340 SE Stark St Unit 15370 Portland, OR	1.0	1.0	550	$1,200	$2.18	43d	1	1.07mi
17528 E Burnside St Portland, OR	2.0	1.0–1.5	655	$1,749	$2.67	16d	5	1.09mi
17376 NE Couch St Portland, OR	1.0	1.0	724	$1,150	$1.59	43d	1	1.11mi
10 NE 162nd Ave Portland, OR	1.0–2.0	1.0	950	$1,325	$1.39	11d	5	1.11mi
123 NE 172nd Ave Portland, OR	1.0	1.0	600	$1,095	$1.82	43d	1	1.11mi
783 SE 185th Ave Portland, OR	1.0–3.0	1.0–2.0	861	$1,634	$1.90	2d	10	1.11mi
17442 SE Powell Blvd Portland, OR	2.0	1.0	729	$1,075	$1.47	10d	1	1.12mi
17450 SE Powell Blvd Portland, OR	2.0	1.0	729	$1,075	$1.47	20d	1	1.12mi
17468 SE Powell Blvd Portland, OR	2.0	1.0	729	$1,075	$1.47	20d	1	1.12mi
2629 SE 145th Ave Portland, OR	1.0	1.0	700	$1,150	$1.64	43d	1	1.14mi
16047 E Burnside St Unit 16 Portland, OR	1.0	1.0	750	$1,200	$1.60	4d	1	1.14mi
2633 SE 145th Ave Portland, OR	1.0	1.0	675	$1,150	$1.70	43d	1	1.16mi
2609 SE 145th Ave Unit E-39 Portland, OR	2.0	1.0	750	$1,299	$1.73	43d	1	1.22mi
2609 SE 145th Ave Unit F-51 Portland, OR	1.0	1.0	642	$1,222	$1.90	12d	1	1.22mi
2609 SE 145th Ave Unit D-27 Portland, OR	1.0	1.0	642	$1,099	$1.71	12d	1	1.22mi
2609 SE 145th Ave Unit A-09 Portland, OR	2.0	1.0	750	$1,299	$1.73	23d	1	1.22mi
878 SE 187th Ave Unit 131 Portland, OR	1.0	1.0	435	$1,175	$2.70	14d	1	1.22mi
878 SE 187th Ave Unit 107 Portland, OR	1.0	1.0	435	$1,100	$2.53	43d	1	1.22mi
15075 SE Stark St Unit 214 Portland, OR	1.0	1.0	597	$1,095	$1.83	43d	1	1.22mi
746 SE 187th Ave Unit 101 Portland, OR	1.0	1.0	500	$1,195	$2.39	43d	1	1.22mi
17925 E Burnside St Unit 105 Portland, OR	1.0	1.0	640	$1,300	$2.03	43d	1	1.26mi
9700 NE Everett Ct Portland, OR	1.0	1.0	494	$1,250	$2.53	2d	4	1.27mi
125 SE 151st Ave Unit 105 Portland, OR	1.0	1.0	518	$1,095	$2.11	2d	1	1.31mi
18245 E Burnside St Unit 111 Portland, OR	2.0	1.0	750	$1,395	$1.86	16d	1	1.31mi

Listing history 7 events

1. 2026-06-18
   days on market $55,000 Active 8 DOM
2. 2026-06-17
   days on market $55,000 Active 7 DOM
3. 2026-06-16
   days on market $55,000 Active 6 DOM
4. 2026-06-15
   days on market $55,000 Active 5 DOM
5. 2026-06-13
   days on market $55,000 Active 3 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $55,000 Active 2 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 23 unhealthy d/yr today · 27 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,625
• − Mortgage interest: −$3,081
• − Property taxes: −$825
• − Insurance: −$275
• − Repairs & maintenance: −$1,250
• − Management: −$1,250
• − Depreciation: −$1,600
• Taxable income: $7,344
• Est. tax owed @ 24.0%: −$1,763
• After-tax cash flow: $6,020/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: Centennial SD 28J
• NCES district ID: 4102800
• Math proficiency: 31% ▼ -2.00%
• Reading proficiency: 43% ▼ -2.00%
• Median HH income: $49,619
• Composite: 34.5/100
• National rank: #10133
• State rank: #125 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): 37,558
• Household income: $75,090
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 1744.0

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 0.67)
• Race & ethnicity: White 51% Hispanic / Latino 21% Asian 13% Two or more races 12% Black 9% Pacific Islander 1%
• Hispanic origin (detail): Mexican 15% Cuban 1%
• Common ancestry: Italian 3% Scotch-Irish 2% Subsaharan African 2%
• Foreign-born: 25% · Canada, Vietnam, China
• Languages at home: 63% English-only · Spanish 16% Vietnamese 6% Russian/Polish/Slavic 5%

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: ▼ -334.44%
• Current HPI: 289.931
• Rent YoY: ▲ 1.64%
• 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

1 event — show timeline

• 2026-06-10 Listed $55,000 RMLS

Property tax history

-31.6%/yr

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