4424 SE Roethe Rd #3 · Jennings Lodge, OR 97267

$129,900

3 bd · 2.0 ba · 1,080 sqft · Other · 137 Days on market

Built 1967 $120/sqft · 64% above area ↓ 10% since listing

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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
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Schools +3.2/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this move-in ready 3-bedroom, 1.5-bath double-wide home located in a quiet 55+ community. This home features a new roof and siding, fresh ext/interior paint, a fully updated kitchen with new cabinets, SS appliances, butcher block countertops, and all new flooring. Spacious living & dining areas offer abundant natural light. A large deck off the entry provides great outdoor living space. Park rent is $755 a month & includes w/s/g. Conveniently located near shopping, dining, and local amenities.

Key facts

• Built 1967
• Listed 137 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $130k.

Deal economics

• At list price, monthly cash flow is $622 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.0% vs local median 2.9% in Jennings Lodge — 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 84/100 on livability (#34 in OR, #808 nationally) — a professional / high-income tenant draw. Strengths: commute A+, health & safety A+, housing A-; Watch: cost of living D+.
• 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: Rents flat; 170 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $898 of loan paydown is wiped out by about $4k 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 + 0.8% rent growth), your $36k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 137 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $114,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 137 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 1967 — 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. 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: 1.48% ✓
• Cap rate: 12.04%
• Cash-on-cash: 20.52%
• DSCR: 1.91
• GRM: 5.6

CMA / ARV

• ARV (median comp): $79,165
• List price: $129,900
• Delta: 64.09%
• Verdict: OVERPRICED
• Comps: 10 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.81% rent growth · sell at horizon

5-year hold

• IRR: 10.3%
• Equity multiple: 1.40×
• Total profit: $14,443
• Equity at exit: $19,369

10-year hold

• IRR: 17.6%
• Equity multiple: 2.30×
• Total profit: $47,410
• Equity at exit: $11,231

Cash invested: $36,372 (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 97267

• Rents YoY: 0.8%
• Active inventory: 170
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,924 high
• Mortgage (P&I): −$681
• Tax est. 1.5%: −$162 /mo · $1,948/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $622

Break-even live

Break-even rent $1,136

Max offer price $129,900

Occupancy floor 63%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4545 SE Ina Ave Portland, OR	2.0	1.0	900	$1,495	$1.66	2d	1	0.05mi
4713 SE Ina Ave Portland, OR	3.0	1.5	1300	$2,395	$1.84	7d	1	0.10mi
4807 SE Boardman Ave Unit 2 Portland, OR	3.0	1.0	986	$1,895	$1.92	43d	1	0.15mi
4803 SE Boardman Ave Unit 0702 Milwaukie, OR	3.0	1.0	986	$1,895	$1.92	24d	1	0.18mi
4803 SE Boardman Ave Milwaukie, OR	3.0	1.0	986	$1,895	$1.92	43d	1	0.18mi
4800 SE Boardman Ave Apt 6 Milwaukie, OR	2.0	1.0	830	$1,595	$1.92	4d	1	0.21mi
4400 SE Naef Rd Unit F30 Milwaukie, OR	2.0	2.0	1010	$1,620	$1.60	24d	1	0.30mi
4400 SE Naef Rd Portland, OR	1.0–2.0	1.0–2.0	863	$1,620	$1.88	7d	9	0.31mi
17966 SE Addie St Portland, OR	2.0	1.0	850	$1,500	$1.76	43d	1	0.41mi
18101 SE Arista Dr Apt 5 Milwaukie, OR	2.0	1.0	800	$1,695	$2.12	15d	1	0.42mi
3412 SE Vineyard Rd Unit 1 Milwaukie, OR	2.0	2.0	1400	$1,950	$1.39	17d	1	0.64mi
18484 SE Abernethy Ln Portland, OR	2.0	1.5	1100	$1,440	$1.31	1d	1	0.67mi
3624 SE Westview Ave Portland, OR	3.0	2.0	1052	$1,950	$1.85	15d	2	0.76mi
18766 SE River Rd Portland, OR	2.0	1.0	895	$1,424	$1.59	15d	3	0.77mi
15607 SE Meadowlark Ln Portland, OR	3.0	2.5	1336	$2,695	$2.02	22d	1	0.84mi
5832 Glen Echo Ave Unit 5830 Gladstone, OR	3.0	2.5	1340	$2,195	$1.64	24d	1	0.93mi
19300 River Rd Unit 19300 Gladstone, OR	2.0	1.5	1064	$1,890	$1.78	15d	1	1.10mi
15318 SE Risley Ct Milwaukie, OR	2.0	1.0	1100	$2,395	$2.18	12d	1	1.16mi
15500 SE East Ave Unit 15530 Oak Grove, OR	2.0	1.5	900	$1,450	$1.61	22d	1	1.17mi
19416 SE River Rd Portland, OR	3.0	2.5	1350	$2,500	$1.85	22d	1	1.18mi
847 Risley Ave Gladstone, OR	2.0	1.0	775	$1,565	$2.02	2d	6	1.32mi
19565 River Rd Gladstone, OR	1.0–2.0	1.0–2.0	860	$1,725	$2.01	43d	2	1.34mi
3708 Kenthorpe Way West Linn, OR	4.0	1.0	1436	$2,775	$1.93	2d	1	1.36mi
127 E Jersey St Unit 129 Gladstone, OR	2.0	1.0	938	$1,895	$2.02	16d	1	1.37mi
3190 Furman Dr Lake Oswego, OR	1.0–2.0	1.0	648	$1,554	$2.40	43d	1	1.38mi
725 Riverdale Dr Gladstone, OR	2.0	1.0	864	$2,300	$2.66	20d	1	1.43mi
105 W Hereford St Gladstone, OR	2.0	1.0	981	$1,799	$1.83	24d	1	1.43mi
461 W Gloucester St Unit 483 Gladstone, OR	2.0	1.0	780	$1,625	$2.08	22d	1	1.45mi

Listing history 22 events

1. 2026-06-18
   days on market $129,900 Active 137 DOM
2. 2026-06-17
   days on market $129,900 Active 136 DOM
3. 2026-06-16
   days on market $129,900 Active 135 DOM
4. 2026-06-15
   days on market $129,900 Active 134 DOM
5. 2026-06-13
   days on market $129,900 Active 132 DOM
6. 2026-06-09
   days on market $129,900 Active 128 DOM
7. 2026-06-08
   days on market $129,900 Active 127 DOM
8. 2026-06-07
   days on market $129,900 Active 126 DOM
9. 2026-06-05
   days on market $129,900 Active 123 DOM
10. 2026-06-03
    days on market $129,900 Active 122 DOM
11. 2026-06-02
    days on market $129,900 Active 121 DOM
12. 2026-06-01
    days on market $129,900 Active 120 DOM
13. 2026-06-01
    remarks 526-char remark
14. 2026-05-31
    days on market $129,900 Active 119 DOM
15. 2026-04-28
    price $129,900 517-char remark

    Show marketing remark (517 chars)

    Welcome to this move-in ready 3-bedroom, 1.5-bath double-wide home located in a quiet 55+ community. This home features a new roof and siding, fresh ext/interior paint, a fully updated kitchen with new cabinets, SS appliances, butcher block countertops, and all new flooring. Spacious living & dining areas offer abundant natural light. A large deck off the entry provides great outdoor living space. Park rent is $755 a month & includes w/s/g. Conveniently located near shopping, dining, and local amenities.

16. 2026-04-27
    price $129,900 496-char remark

    Show marketing remark (496 chars)

    Move-in ready 3-bedroom, 1.5-bath double-wide located in a quiet 55+ community. This home features a new roof and siding, fresh ext/interior paint, a fully updated kitchen with new cabinets, SS appliances, butcher block countertops, and all new flooring. Spacious living & dining areas offer abundant natural light. A large deck off the entry provides great outdoor living space. Park rent is $755 a month & includes w/s/g. Conveniently located near shopping, dining, and local amenities.

17. 2026-03-28
    price $135,000 517-char remark

    Show marketing remark (496 chars)

    Move-in ready 3-bedroom, 1.5-bath double-wide located in a quiet 55+ community. This home features a new roof and siding, fresh ext/interior paint, a fully updated kitchen with new cabinets, SS appliances, butcher block countertops, and all new flooring. Spacious living & dining areas offer abundant natural light. A large deck off the entry provides great outdoor living space. Park rent is $755 a month & includes w/s/g. Conveniently located near shopping, dining, and local amenities.

18. 2026-03-28
    price $135,000 496-char remark

    Show marketing remark (496 chars)

    Move-in ready 3-bedroom, 1.5-bath double-wide located in a quiet 55+ community. This home features a new roof and siding, fresh ext/interior paint, a fully updated kitchen with new cabinets, SS appliances, butcher block countertops, and all new flooring. Spacious living & dining areas offer abundant natural light. A large deck off the entry provides great outdoor living space. Park rent is $755 a month & includes w/s/g. Conveniently located near shopping, dining, and local amenities.

19. 2026-03-05
    price $139,900 517-char remark

    Show marketing remark (517 chars)

    Welcome to this move-in ready 3-bedroom, 1.5-bath double-wide home located in a quiet 55+ community. This home features a new roof and siding, fresh ext/interior paint, a fully updated kitchen with new cabinets, SS appliances, butcher block countertops, and all new flooring. Spacious living & dining areas offer abundant natural light. A large deck off the entry provides great outdoor living space. Park rent is $755 a month & includes w/s/g. Conveniently located near shopping, dining, and local amenities.

20. 2026-03-04
    price $139,900 496-char remark

    Show marketing remark (496 chars)

    Move-in ready 3-bedroom, 1.5-bath double-wide located in a quiet 55+ community. This home features a new roof and siding, fresh ext/interior paint, a fully updated kitchen with new cabinets, SS appliances, butcher block countertops, and all new flooring. Spacious living & dining areas offer abundant natural light. A large deck off the entry provides great outdoor living space. Park rent is $755 a month & includes w/s/g. Conveniently located near shopping, dining, and local amenities.

21. 2026-02-02
    listed $145,000 Active 517-char remark

    Show marketing remark (517 chars)

    Welcome to this move-in ready 3-bedroom, 1.5-bath double-wide home located in a quiet 55+ community. This home features a new roof and siding, fresh ext/interior paint, a fully updated kitchen with new cabinets, SS appliances, butcher block countertops, and all new flooring. Spacious living & dining areas offer abundant natural light. A large deck off the entry provides great outdoor living space. Park rent is $755 a month & includes w/s/g. Conveniently located near shopping, dining, and local amenities.

22. 2026-02-01
    status Active 496-char remark

    Show marketing remark (496 chars)

    Move-in ready 3-bedroom, 1.5-bath double-wide located in a quiet 55+ community. This home features a new roof and siding, fresh ext/interior paint, a fully updated kitchen with new cabinets, SS appliances, butcher block countertops, and all new flooring. Spacious living & dining areas offer abundant natural light. A large deck off the entry provides great outdoor living space. Park rent is $755 a month & includes w/s/g. Conveniently located near shopping, dining, and local amenities.

ⓘ 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 ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 18 unhealthy d/yr today · 20 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,083
• − Mortgage interest: −$7,276
• − Property taxes: −$1,948
• − Insurance: −$650
• − Repairs & maintenance: −$1,847
• − Management: −$1,847
• − Depreciation: −$3,779
• Taxable income: $5,737
• Est. tax owed @ 24.0%: −$1,377
• After-tax cash flow: $6,086/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 — Jennings Lodge

• Score: 84/100
• State rank: #34
• US rank: #808

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jennings Lodge, OR
• County: Clackamas County · 361,406 people
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 31,311
• Household income: $87,418
• Rent vs Own: 28.2% rent · 71.8% own
• Severe rent burden: 1226.0

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 (78%)
• Race & ethnicity: White 78% Hispanic / Latino 12% Two or more races 10% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Portuguese 5% Lithuanian 4% Italian 3%
• Foreign-born: 8% · Canada
• Languages at home: 88% English-only · Spanish 7% Russian/Polish/Slavic 2% 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: ▼ -526.38%
• Current HPI: 292.1818
• Rent YoY: ▲ 0.81%
• 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

-10.4% since first listed

8 events — show timeline

• 2026-04-28 Price Changed $129,900 WVMLS
• 2026-04-27 Price Changed $129,900 RMLS
• 2026-03-28 Price Changed $135,000 WVMLS
• 2026-03-28 Price Changed $135,000 RMLS
• 2026-03-05 Price Changed $139,900 WVMLS
• 2026-03-04 Price Changed $139,900 RMLS
• 2026-02-02 Listed $145,000 WVMLS
• 2026-02-01 Relisted — RMLS

Property tax history

-6.5%/yr

Latest (2018): $70 · +15.7% YoY. Source: county tax records.