23508 NW Saint Helens Rd Unit S16 · Portland, OR 97231

$95,000

1 bd · 1.0 ba · 605 sqft · SingleFamily · 148 Days on market

Built 1940 Fair condition $157/sqft · 49% below area Est $188k · 49% under $775/mo HOA · 46% of rent ↓ 4% since listing

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• Cash flow +7.6/30.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• DSCR +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking to relax and enjoy river life! Great opportunity awaits you to go on adventures! Main floor living room, full bath, kitchen has undermount sink with quartz counters, new fridge, full size washer & dryer, upstairs 1 bedroom with 200 SQ ft deck balcony area has river views, and attached 18 foot boat well, with glass garage door and opener. Bring your watercraft toys, kayak's, paddle boards. Buyer's need to be approved by Blue Flag Realty. Owner is licensed real estate broker in Oregon. Cash only.

Key facts

• 200 sq ft deck
• Garage
• Built 1940

Tags

• 200 SQ FT DECK
• ATTACHED 18 FOOT BOAT WELL

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $95k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-114 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $78k (17.4% below list).
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $78k (17.4% below list) — sets the bar for cash-flow.
• Cap rate 4.9% vs local median 2.3% 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.
• Zoned schools: Richmond Elementary School (539 students, 5% FRL); Da Vinci Middle School (434 students, 34% FRL); Benson Polytechnic High School (824 students, 65% FRL) — zoned schools at 35% FRL track the district average.
• Market conditions: 94 active listings in the ZIP; high-income renter base; 2,041 units permitted in Multnomah County in 2024 (905 in 5+ unit buildings).
• This rent is only 16% of the median local income ($122k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k 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 148 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 9y ago; this cycle's ask has dropped $55k (37%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $32k; list at $95k implies a 192% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 46% of rent; built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $78,496 (17.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 148 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. 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: 1.76% ✓
• Cap rate: 4.85%
• Cash-on-cash: -5.15%
• DSCR: 0.77
• GRM: 4.7

CMA / ARV

• ARV (median comp): $188,080
• List price: $95,000
• Delta: -49.49%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23586 NW St Helens Rd Unit U-62	0.31mi	1/1.0	759 (+26%)	41mo	$329,000	$433	41
26400 NW St Helens Rd #60	1.62mi	1/1.0	550 (-9%)	19mo	$415,000	$755	34
25200 NW Saint Helens Rd #22	0.96mi	2/1.0 (+1)	700 (+16%)	25mo	$40,000	$57	15

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -24.3%
• Equity multiple: 0.17×
• Total profit: $-22,157
• Equity at exit: $14,165

10-year hold

• IRR: -17.8%
• Equity multiple: -0.00×
• Total profit: $-26,611
• Equity at exit: $8,214

Cash invested: $26,600 (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 →

Active competition Active MLS

• For sale now: 2 active
• Median asking: $247,450 ($365/sqft)
• Median days on market: 99 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -14.8% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 97231

• Home prices YoY: -31.9%
• Active inventory: 94
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,668 medium
• Mortgage (P&I): −$498
• Tax est. 1.5%: −$119 /mo · $1,425/yr
• Insurance: −$40
• HOA: −$775
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $-114

Break-even live

Break-even rent $1,812

Max offer price $78,496

Occupancy floor —

Sensitivity live

Price	-10% $-48	-5% $-81	+0% $-114	+5% $-147	+10% $-180
Rent	-10% $-246	-5% $-180	+0% $-114	+5% $-48	+10% $18
Rate	-1.0pp $-66	-0.5pp $-90	base $-114	+0.5pp $-139	+1.0pp $-164

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: $23,750
• Closing costs: $2,850
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

HOA detail $775/mo · $9,300/yr

• Likely covers: water

Listing history 50 events

1. 2026-08-08
   days on market $95,000 Active 148 DOM
2. 2026-08-06
   days on market $95,000 Active 146 DOM
3. 2026-08-05
   days on market $95,000 Active 145 DOM
4. 2026-08-04
   days on market $95,000 Active 144 DOM
5. 2026-08-03
   pricedays on market $95,000 Active 143 DOM
6. 2026-07-31
   days on market $98,000 Active 140 DOM
7. 2026-07-30
   days on market $98,000 Active 139 DOM
8. 2026-07-30
   days on market $98,000 Active 138 DOM
9. 2026-07-28
   days on market $98,000 Active 137 DOM
10. 2026-07-26
    days on market $98,000 Active 135 DOM
11. 2026-07-24
    days on market $98,000 Active 133 DOM
12. 2026-07-23
    price $98,000 Active 132 DOM
13. 2026-07-23
    days on market $100,000 Active 132 DOM
14. 2026-07-22
    days on market $100,000 Active 131 DOM
15. 2026-07-21
    days on market $100,000 Active 130 DOM
16. 2026-07-20
    days on market $100,000 Active 129 DOM
17. 2026-07-18
    days on market $100,000 Active 127 DOM
18. 2026-07-18
    days on market $100,000 Active 126 DOM
19. 2026-07-16
    days on market $100,000 Active 125 DOM
20. 2026-07-15
    days on market $100,000 Active 124 DOM
21. 2026-07-14
    days on market $100,000 Active 123 DOM
22. 2026-07-13
    days on market $100,000 Active 122 DOM
23. 2026-07-13
    days on market $100,000 Active 121 DOM
24. 2026-07-11
    days on market $100,000 Active 120 DOM
25. 2026-07-10
    days on market $100,000 Active 119 DOM
26. 2026-07-09
    days on market $100,000 Active 118 DOM
27. 2026-07-07
    days on market $100,000 Active 116 DOM
28. 2026-07-06
    days on market $100,000 Active 115 DOM
29. 2026-07-05
    pricedays on market $100,000 Active 114 DOM
30. 2026-07-03
    days on market $104,500 Active 112 DOM
31. 2026-07-02
    days on market $104,500 Active 111 DOM
32. 2026-07-01
    days on market $104,500 Active 110 DOM
33. 2026-06-30
    days on market $104,500 Active 109 DOM
34. 2026-06-29
    days on market $104,500 Active 108 DOM
35. 2026-06-28
    pricedays on market $104,500 Active 107 DOM
36. 2026-06-27
    days on market $105,000 Active 106 DOM
37. 2026-06-26
    days on market $105,000 Active 105 DOM
38. 2026-06-24
    days on market $105,000 Active 103 DOM
39. 2026-06-22
    days on market $105,000 Active 101 DOM
40. 2026-06-21
    pricedays on market $105,000 Active 100 DOM
41. 2026-06-18
    days on market $105,900 Active 97 DOM
42. 2026-06-17
    days on market $105,900 Active 96 DOM
43. 2026-06-16
    days on market $105,900 Active 95 DOM
44. 2026-06-15
    days on market $105,900 Active 94 DOM
45. 2026-06-13
    days on market $105,900 Active 92 DOM
46. 2026-06-09
    days on market $105,900 Active 88 DOM
47. 2026-06-08
    days on market $105,900 Active 87 DOM
48. 2026-06-07
    remarks 530-char remark
49. 2026-06-07
    days on market $105,900 Active 86 DOM
50. 2026-06-03
    days on market $105,900 Active 82 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $20,012
• − Mortgage interest: −$5,321
• − Property taxes: −$1,425
• − Insurance: −$475
• − Repairs & maintenance: −$1,601
• − Management: −$1,601
• − HOA: −$9,300
• − Depreciation: −$2,764
• Taxable loss: −$2,475
• Est. tax savings @ 24.0%: +$594
• After-tax cash flow: $-775/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.

Condition & rehab AI · 11 photos

Fair 45/100 Moderate rehab Est. rehab $15,125–$27,225 screening

This property requires moderate repairs and maintenance, with average condition overall. It has potential for increased value with updates to the interior and exterior.

Repairs flagged

• Minor Deck — Some wear and tear
• Minor Outdoor furniture — Worn cushions

Value-add opportunities

• Resale Paint interior walls — Fresh paint enhances curb appeal ↑
• Resale Replace checkered carpet — New carpet improves comfort and appearance ↑
• Rental Replace outdoor cushions — Fresh cushions attract renters ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

Zoned Schools

Elementary Winterhaven School Middle Da Vinci Middle School High Lincoln High School

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

B Composite livability gradescore 77/100

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

• County: Multnomah · 930,825 people
• City population: 774,334
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 4,304
• Household income: $122,063
• Rent vs Own: 12.7% rent · 87.3% own
• Severe rent burden: 14% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Two or more races 9% Hispanic / Latino 8% Asian 7%
• Hispanic origin (detail): Mexican 2% Salvadoran 2%
• Common ancestry: Lithuanian 6% Slovak 4% Italian 3%
• Foreign-born: 5% · Canada, Dominican Republic
• Languages at home: 90% English-only · Spanish 5% French/Haitian/Cajun 2% Other Indo-European 2%

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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: ▼ -120.95%
• Current HPI: 257.6546
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.05%
• F500 in state: 2

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Industry mix (Fortune 500 HQ in OR)

Industry	F500 HQs	Revenue
▸Consumer Goods	1	$51B

Price history

-3.7% since first listed

22 events — show timeline

• 2026-05-06 Price Changed $105,900 RMLS
• 2026-04-28 Price Changed $114,900 RMLS
• 2026-04-23 Price Changed $120,000 RMLS
• 2026-04-17 Price Changed $122,495 RMLS
• 2026-04-05 Price Changed $124,900 RMLS
• 2026-03-28 Price Changed $129,900 RMLS
• 2026-03-21 Price Changed $140,000 RMLS
• 2026-03-13 Listed $150,000 RMLS
• 2019-07-02 Sold (MLS) $32,500 RMLS
• 2019-05-13 Pending — RMLS
• 2018-11-30 Relisted — RMLS
• 2018-11-30 Price Changed $65,000 RMLS
• 2018-11-30 Delisted — RMLS
• 2018-08-16 Price Changed $79,000 RMLS
• 2018-07-10 Price Changed $85,000 RMLS
• 2018-05-30 Relisted — RMLS
• 2018-05-30 Price Changed $95,000 RMLS
• 2018-05-30 Delisted — RMLS
• 2017-11-22 Pending — RMLS
• 2017-08-09 Price Changed $100,000 RMLS
• 2017-06-02 Listed $110,000 RMLS
• 2017-05-29 Relisted — RMLS