13900 SE Highway 212 #78 · Happy Valley, OR 97015

$80,000

2 bd · 1.0 ba · 960 sqft · Other · 25 Days on market

Built 1972

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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 +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Affordable opportunity in the Riverbend community! This 2 bedroom, 1 bathroom double wide offers comfortable single level living in a convenient Clackamas location close to shopping, restaurants, and quick access to Highway 212 and I 205. Inside, the functional layout includes laminate and vinyl flooring, bright living spaces, and walk in closets that add valuable storage and functionality. Outside, the spacious backyard offers more room to enjoy than you typically find at this price point, complete with a walk around sidewalk path, mature azaleas, and two apple trees that add charm and character to the setting. Deck space, covered porch area, fenced yard, and tool shed create flexible outd

Key facts

• Spacious backyard
• Single level living
• Walk in closets

Tags

• SINGLE LEVEL LIVING
• FUNCTIONAL LAYOUT
• WALK IN CLOSETS
• SPACIOUS BACKYARD
• WALK AROUND SIDEWALK PATH
• DECK SPACE

Property features AI

Finance

• Other: View of park/greenbelt
• Financial info: Property is in a land-lease community (monthly lot rent); Land lease expires June 30, 2030
• HOA & community: Community amenities: pool, gym, basketball court, commons, party room, recreation facilities; Community maintenance includes grounds, road maintenance, and water

Exterior

• Parking: Carport; Driveway (total parking for 1 vehicle)
• Utilities: Electricity for heat and hot water; Shared well water; Public sewer
• Home design: Manufactured home in a park; Single-story (one level); Unattached
• Construction: Built in 1972; Composition roof; Skirting foundation
• Exterior features: Deck; Fenced yard; Porch; Tool shed; Aluminum exterior; Park/greenbelt view; Level lot; Paved road access

Interior

• Kitchen: Free-standing range; Free-standing refrigerator
• Bedrooms: Primary bedroom on main level; Second bedroom on main level
• Flooring: Laminate flooring; Vinyl flooring
• Bathrooms: One full bathroom on main level
• Heating & cooling: Forced-air heating (90%); No central air
• Interior features: Main-floor living with accessible features; Walk-in shower; Washer and dryer included; Laminate and vinyl flooring; Double-pane windows with vinyl frames; Crawl space
• Laundry & utility: Washer and dryer (in-unit); Electric hot water

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $80k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• Cap rate 21.4% vs local median 2.4% 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.
• Zoned schools: Clackamas High School (math 52% / reading 67%, grade C+, #23 of 143 statewide, top 19%, 1,224 students, 27% FRL).
• Zoned-school proficiency averages 60% at this address vs 36% district-wide (+24 pts) — the actual schools serving this property are materially stronger than the North Clackamas SD 12 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+2.5%/yr); 124 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $553 of loan paydown is wiped out by about $2k 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 + 2.5% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.

Recommended offer $78,800 (1.5% below list)

Questions for the listing agent

1. Built in 1972 — 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. 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?
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: 21.39%
• Cash-on-cash: 53.93%
• DSCR: 3.40
• GRM: 3.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.48% rent growth · sell at horizon

5-year hold

• IRR: 51.5%
• Equity multiple: 3.24×
• Total profit: $50,153
• Equity at exit: $11,928

10-year hold

• IRR: 56.6%
• Equity multiple: 6.45×
• Total profit: $122,182
• Equity at exit: $6,917

Cash invested: $22,400 (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 97015

• Rents YoY: 2.5%
• Active inventory: 124
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,897 high
• Mortgage (P&I): −$420
• Tax from tax record: −$39 /mo · $471/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $1,007

Break-even live

Break-even rent $623

Max offer price $80,000

Occupancy floor 42%

Sensitivity live

Price	-10% $1,052	-5% $1,029	+0% $1,007	+5% $984	+10% $961
Rent	-10% $857	-5% $932	+0% $1,007	+5% $1,082	+10% $1,157
Rate	-1.0pp $1,047	-0.5pp $1,027	base $1,007	+0.5pp $986	+1.0pp $965

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13300 SE Hubbard Rd Clackamas, OR	3.0	1.0–2.0	818	$1,987	$2.43	3d	6	0.52mi
14553 SE Lone Pine Dr Unit 14553 Clackamas, OR	2.0	1.0	800	$1,695	$2.12	45d	1	0.82mi
12301 SE Hubbard Rd Clackamas, OR	2.0–3.0	1.0–2.0	936	$1,523	$1.63	11d	4	0.94mi
14712 SE Misty Dr Happy Valley, OR	2.0	1.0–2.0	955	$1,988	$2.08	3d	13	1.18mi
14194 SE Summerfield Loop Happy Valley, OR	3.0	2.5	1125	$2,250	$2.00	25d	1	1.27mi
14154 SE Summerfield Loop Unit 14194 Happy Valley, OR	3.0	2.5	1125	$2,250	$2.00	25d	1	1.27mi

Listing history 15 events

1. 2026-06-21
   days on market $80,000 Active 25 DOM
2. 2026-06-18
   days on market $80,000 Active 22 DOM
3. 2026-06-17
   days on market $80,000 Active 21 DOM
4. 2026-06-16
   days on market $80,000 Active 20 DOM
5. 2026-06-15
   days on market $80,000 Active 19 DOM
6. 2026-06-13
   days on market $80,000 Active 17 DOM
7. 2026-06-09
   days on market $80,000 Active 13 DOM
8. 2026-06-08
   days on market $80,000 Active 12 DOM
9. 2026-06-07
   days on market $80,000 Active 11 DOM
10. 2026-06-05
    days on market $80,000 Active 8 DOM
11. 2026-06-03
    days on market $80,000 Active 7 DOM
12. 2026-06-02
    days on market $80,000 Active 6 DOM
13. 2026-06-01
    days on market $80,000 Active 5 DOM
14. 2026-05-31
    days on market $80,000 Active 4 DOM
15. 2026-05-27
    listed $80,000 Active

ⓘ 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: $471 · $39/mo
• Projected year-2 tax: $776 · $65/mo
• Expected delta: +$305/yr (+$25/mo · 64.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 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: $22,766
• − Mortgage interest: −$4,481
• − Property taxes: −$471
• − Insurance: −$400
• − Repairs & maintenance: −$1,821
• − Management: −$1,821
• − Depreciation: −$2,327
• Taxable income: $11,444
• Est. tax owed @ 24.0%: −$2,746
• After-tax cash flow: $9,333/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

• County: Clackamas County · 361,406 people
• City population: 34,567
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 24,433
• Household income: $87,333
• Rent vs Own: 36.0% rent · 64.0% own
• Severe rent burden: 1166.0

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 (66%)
• Race & ethnicity: White 66% Hispanic / Latino 15% Two or more races 12% Asian 11% Black 2%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Italian 4% Scotch-Irish 4% Lithuanian 3%
• Foreign-born: 15% · Canada, China, Vietnam
• Languages at home: 74% English-only · Spanish 11% Chinese 5% Russian/Polish/Slavic 3%

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: ▼ -170.50%
• Current HPI: 295.7295
• Rent YoY: ▲ 2.48%
• 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

• 2026-05-27 Listed $80,000 RMLS

Property tax history

+4.2%/yr

Latest (2025): $471 · +3.6% YoY. Source: county tax records.