8420 SE Lafayette St · Portland, OR 97266

$150,000

3 bd · 1.0 ba · 989 sqft · SingleFamily public records · 47 Days on market

Built 1946 5,662 sqft lot $152/sqft · 60% below area ↓ 11% since listing

---

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 +23.9/30.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• 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

Listing remarks MLS

66.5’ x 100’ lot zoned RM1. Value is in the land due to the condition of the home—cash only. Excellent opportunity for development with potential for duplexes, triplexes, fourplexes, rowhouses, courtyard housing, or small apartment buildings (buyer to verify). Buyer to perform all due diligence.

Key facts

• Zoned rm1
• 5,662 sq ft lot
• Garage

Tags

• ZONED RM1
• OPPORTUNITY FOR DEVELOPMENT
• POTENTIAL FOR DUPLEXES
• POTENTIAL FOR TRIPLEXES
• POTENTIAL FOR FOURPLEXES
• POTENTIAL FOR ROWHOUSES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $291 ($3k/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: $146k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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.
• Market conditions: Rents soft (-0.1%/yr); 205 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 2,041 units permitted in Multnomah County in 2024 (905 in 5+ unit buildings).
• This rent runs 31% of the median local income ($73k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 47 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $75k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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: 1.23% ✓
• Cap rate: 8.62%
• Cash-on-cash: 8.32%
• DSCR: 1.37
• GRM: 6.8

CMA / ARV

• ARV (median comp): $376,561
• List price: $150,000
• Delta: -60.17%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8420 SE Lafayette St	0.00mi	3/1.0	989 (0%)	0mo	$195,000	$197	100
8451 SE Bush St	0.07mi	3/1.0	1,062 (+7%)	4mo	$312,500	$294	81
8241 SE Raymond Ct	0.70mi	3/1.0	984 (-0%)	3mo	$270,000	$274	64
3314 SE 85th Ave	0.17mi	2/2.0 (-1)	912 (-8%)	11mo	$325,000	$356	61
4230 SE 73rd Ave	0.64mi	2/1.0 (-1)	1,010 (+2%)	6mo	$427,500	$423	57
3117 SE 81st Ave	0.33mi	2/1.0 (-1)	853 (-14%)	2mo	$365,000	$428	55
7135 SE Gladstone St	0.68mi	2/1.0 (-1)	929 (-6%)	1mo	$400,000	$431	52
3815 SE 76th Ave Unit B	0.47mi	2/2.0 (-1)	910 (-8%)	6mo	$454,900	$500	51
4828 SE 84th Ave	0.59mi	3/1.0	888 (-10%)	6mo	$270,000	$304	50
7602 SE Long St	0.68mi	2/1.0 (-1)	1,023 (+3%)	9mo	$455,000	$445	50
4607 SE 88th Ave	0.52mi	3/2.0	1,104 (+12%)	12mo	$449,000	$407	43
4136 SE 72nd Ave	0.67mi	2/1.0 (-1)	909 (-8%)	13mo	$455,000	$501	40

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -7.4%
• Equity multiple: 0.74×
• Total profit: $-11,062
• Equity at exit: $22,365

10-year hold

• IRR: -2.6%
• Equity multiple: 0.85×
• Total profit: $-6,231
• Equity at exit: $12,969

Cash invested: $42,000 (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: 205
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,848 high
• Mortgage (P&I): −$787
• Tax from tax record: −$319 /mo · $3,833/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $291

Break-even live

Break-even rent $1,479

Max offer price $150,000

Occupancy floor 79%

Sensitivity live

Price	-10% $376	-5% $334	+0% $291	+5% $249	+10% $206
Rent	-10% $145	-5% $218	+0% $291	+5% $364	+10% $437
Rate	-1.0pp $367	-0.5pp $329	base $291	+0.5pp $252	+1.0pp $213

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8324 SE Rhine St Unit 20001--11 Portland, OR	2.0	2.0	912	$1,495	$1.64	18d	1	0.07mi
8324 SE Rhine St Apt 1 Portland, OR	2.0	2.0	912	$1,695	$1.86	15d	1	0.07mi
8310 SE Rhine St Portland, OR	2.0	2.0	912	$1,695	$1.86	15d	1	0.09mi
3323 SE 87th Ave Apt 9 Portland, OR	2.0	1.5	975	$1,855	$1.90	3d	1	0.19mi
3323 SE 87th Ave Unit 3 Portland, OR	2.0	1.5	975	$1,855	$1.90	22d	1	0.20mi
8105 SE Powell Blvd Portland, OR	1.0–2.0	1.0	675	$1,495	$2.21	3d	5	0.22mi
3105 SE 89th Ave Unit 4 Portland, OR	2.0	1.5	1024	$1,695	$1.66	44d	1	0.32mi
3240 SE 90th Pl Portland, OR	2.0	1.0	800	$1,695	$2.12	24d	1	0.33mi
2835 SE 90th Pl Portland, OR	2.0	1.5	800	$1,845	$2.31	5d	1	0.43mi
2827 SE 90th Pl Apt A Portland, OR	2.0	1.5	800	$1,845	$2.31	44d	1	0.45mi
8527 SE Clinton St Unit 8535 Portland, OR	3.0	1.5	962	$1,450	$1.51	11d	1	0.53mi
2806 SE 78th Ave Portland, OR	2.0	1.0	870	$2,595	$2.98	18d	1	0.55mi
7301 SE Powell Blvd Portland, OR	1.0–2.0	1.0–1.5	710	$1,495	$2.11	44d	4	0.60mi
4650 SE 77th Ave Portland, OR	3.0	1.0	960	$2,395	$2.49	15d	1	0.63mi
2338 SE 89th Ave Portland, OR	2.0	1.5	800	$1,645	$2.06	8d	1	0.70mi
2338 SE 89th Ave Unit A Portland, OR	2.0	1.5	800	$1,645	$2.06	44d	1	0.70mi
9757 SE Holgate Blvd Unit 226-204 Portland, OR	3.0	2.0	1008	$1,975	$1.96	16d	1	0.73mi
9326 SE Schiller St Unit 9326G Portland, OR	2.0	1.0	800	$1,446	$1.81	44d	1	0.76mi
9641 SE Schiller St Portland, OR	3.0	2.0	1056	$2,250	$2.13	44d	1	0.79mi
8435 SE Insley St Portland, OR	2.0	1.0–1.5	980	$1,622	$1.66	8d	4	0.81mi
4518 SE 99th Ave Unit A Portland, OR	2.0	1.5	850	$1,995	$2.35	3d	1	0.82mi
8631 SE Insley St Unit 8631 Portland, OR	2.0	1.0	806	$1,395	$1.73	18d	1	0.85mi
4539 SE 100th Ave Unit A Portland, OR	3.0	1.0	912	$1,995	$2.19	5d	1	0.86mi
2118 SE 92nd Ave Portland, OR	2.0	1.0	762	$1,500	$1.97	44d	1	0.88mi
7215 SE Division St Unit 7215 Portland, OR	2.0	1.0	700	$1,595	$2.28	15d	1	0.89mi
2211 SE 96th Dr Portland, OR	2.0	1.0	862	$1,395	$1.62	8d	1	0.91mi
9827 SE Division St Portland, OR	2.0	2.0	900	$1,495	$1.66	44d	1	0.91mi
3408 SE 67th Ave Unit 3408 Portland, OR	2.0	1.0	800	$1,550	$1.94	44d	1	0.91mi
1940 SE 80th Ave Portland, OR	2.0	1.0	945	$1,350	$1.43	44d	1	0.91mi
6940 SE Long St Unit 9 Portland, OR	2.0	1.0	642	$1,350	$2.10	44d	1	0.92mi
7315 SE Mitchell Ct Portland, OR	2.0	1.0	750	$1,645	$2.19	8d	3	0.93mi
7315 SE Mitchell Ct Portland, OR	2.0	1.0	750	$1,670	$2.23	44d	5	0.93mi
1924 SE 80th Ave Portland, OR	2.0	1.0	800	$1,595	$1.99	24d	1	0.93mi
7512 SE Steele St Portland, OR	2.0	1.0	794	$1,395	$1.76	8d	1	0.94mi
10038 SE Division St Portland, OR	2.0	2.0	905	$1,622	$1.79	2d	4	0.94mi
5537 SE 86th Ave Portland, OR	2.0	1.0	800	$1,595	$1.99	8d	1	0.94mi
2160 SE 96th Ave Portland, OR	2.0	2.0	970	$1,550	$1.60	44d	1	0.96mi
2160 SE 96th Ave Portland, OR	2.0	2.0	970	$1,550	$1.60	24d	1	0.96mi
7030 SE Raymond Ct Portland, OR	3.0	1.0	922	$2,395	$2.60	20d	1	0.98mi
7718 SE Harold St Unit 7718 Portland, OR	2.0	1.0	785	$1,575	$2.01	2d	1	0.99mi

Listing history 10 events

1. 2026-06-07
   remarks 326-char remark
2. 2026-06-07
   pricestatusdays on market $150,000 Pending 47 DOM
3. 2026-06-03
   days on market $200,000 Active 44 DOM
4. 2026-06-02
   days on market $200,000 Active 43 DOM
5. 2026-06-01
   days on market $200,000 Active 42 DOM
6. 2026-05-31
   days on market $200,000 Active 41 DOM
7. 2026-05-19
   status Active 314-char remark

   Show marketing remark (314 chars)

   66.5’ x 100’ lot zoned RM1. Value is in the land due to the condition of the home—cash only. Excellent opportunity for development with potential for duplexes, triplexes, fourplexes, rowhouses, courtyard housing, or small apartment buildings (buyer to verify). Buyer to perform all due diligence.

8. 2026-05-15
   status Pending 314-char remark

   Show marketing remark (314 chars)

   66.5’ x 100’ lot zoned RM1. Value is in the land due to the condition of the home—cash only. Excellent opportunity for development with potential for duplexes, triplexes, fourplexes, rowhouses, courtyard housing, or small apartment buildings (buyer to verify). Buyer to perform all due diligence.

9. 2026-05-05
   price $200,000 314-char remark

   Show marketing remark (314 chars)

   66.5’ x 100’ lot zoned RM1. Value is in the land due to the condition of the home—cash only. Excellent opportunity for development with potential for duplexes, triplexes, fourplexes, rowhouses, courtyard housing, or small apartment buildings (buyer to verify). Buyer to perform all due diligence.

10. 2026-04-15
    listed $225,000 Active 314-char remark

    Show marketing remark (314 chars)

    66.5’ x 100’ lot zoned RM1. Value is in the land due to the condition of the home—cash only. Excellent opportunity for development with potential for duplexes, triplexes, fourplexes, rowhouses, courtyard housing, or small apartment buildings (buyer to verify). Buyer to perform all due diligence.

ⓘ 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: $3,833 · $319/mo
• Projected year-2 tax: $3,833 · $319/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 · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 19 unhealthy d/yr today · 21 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,174
• − Mortgage interest: −$8,402
• − Property taxes: −$3,833
• − Insurance: −$750
• − Repairs & maintenance: −$1,774
• − Management: −$1,774
• − Depreciation: −$4,364
• Taxable income: $1,277
• Est. tax owed @ 24.0%: −$307
• After-tax cash flow: $3,189/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

-11.1% since first listed

4 events — show timeline

• 2026-05-19 Relisted — RMLS
• 2026-05-15 Pending — RMLS
• 2026-05-05 Price Changed $200,000 RMLS
• 2026-04-15 Listed $225,000 RMLS

Property tax history

+4.8%/yr

Latest (2021): $3,833 · +9.0% YoY. Source: county tax records.