1104 SW Columbia St · Portland, OR 97201

$155,000

1 bd · 1.0 ba · 504 sqft · Townhouse · 10 Days on market

Built 1903 Good condition Garage $308/sqft · 22% below area Est $200k · 22% under $448/mo HOA · 34% of rent

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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
• Schools +4.7/10.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• 1% rule +3.4/10.0
• Cash flow +3.1/30.0
• Rent growth +2.7/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Super charming one bedroom condo located in the Eleventh Avenue Lofts. This charmer features wood floors, golden honey shaker cabinets, SS appliances, pocket doors, and a fully equipped kitchen too. Combine this with a delightful gas fired pot stove adding to the charm of the unit for sure and a bathroom that is fully equipped with plumbing capable W/ D hookup; altogether you have downtown living at it's finest. The building also features common area laundry machines, dedicated storage area plus bike storage as well. Outside you'll find EZ parking directly across the street, walk to Safeway, PSU, and a ton of bus lines all around.

Key facts

• Pocket doors
• Wood floors
• Ss appliances

Tags

• WOOD FLOORS
• GOLDEN HONEY SHAKER CABINETS
• SS APPLIANCES
• POCKET DOORS
• FULLY EQUIPPED KITCHEN
• GAS FIRED POT STOVE

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath townhouse listed at $155k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-493 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $84k (46.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $130k (16.2% below list).
• Recommended offer: $84k (46.0% below list) — sets the bar for cash-flow.

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: Ainsworth Elementary School (563 students, 9% FRL); West Sylvan Middle School (757 students, 13% FRL); Lincoln High School (1,525 students, 11% FRL) — zoned schools average 11% FRL vs 37% district-wide (26 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents flat; 290 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 80d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 65% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $1k of loan paydown is wiped out by about $5k 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

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: HOA is 34% of rent; built in 1903 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $83,652 (46.0% 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. Built in 1903 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
7. 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.
8. 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.
9. 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: 0.84% ✗
• Cap rate: 2.48%
• Cash-on-cash: -13.63%
• DSCR: 0.39
• GRM: 9.9

CMA / ARV

• ARV (median comp): $199,558
• List price: $155,000
• Delta: -22.33%
• 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
1500 SW 11th Ave #1005	0.06mi	1/1.0	505 (+0%)	6mo	$246,500	$488	91
1500 SW 11th Ave #403	0.06mi	1/1.0	536 (+6%)	6mo	$225,000	$420	82
1005 SW Park Ave #203	0.23mi	1/1.0	452 (-10%)	2mo	$140,000	$310	70
2020 SW Main St #405	0.50mi	1/1.0	488 (-3%)	4mo	$159,200	$326	68
1811 NW Couch St #210	0.59mi	1/1.0	519 (+3%)	1mo	$129,900	$250	66
1631 NW Everett St #403	0.67mi	1/1.0	506 (+0%)	7mo	$208,000	$411	63
1811 NW Couch St #410	0.59mi	1/1.0	519 (+3%)	7mo	$155,500	$300	62
20 NW 16th Ave #8	0.53mi	1/1.0	558 (+11%)	3mo	$75,075	$135	54
1811 NW Couch St #202	0.59mi	1/1.0	548 (+9%)	4mo	$160,000	$292	54
255 SW Harrison St Unit 8 E	0.50mi	1/1.0	579 (+15%)	3mo	$172,000	$297	49
255 SW Harrison St Unit 11A	0.50mi	1/1.0	579 (+15%)	5mo	$175,000	$302	48
118 NW King Ave #52	0.74mi	1/1.0	576 (+14%)	1mo	$208,000	$361	41

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 · 0.87% rent growth · sell at horizon

5-year hold

• IRR: -45.6%
• Equity multiple: -0.36×
• Total profit: $-58,952
• Equity at exit: $23,111

10-year hold

• IRR: —
• Equity multiple: -1.33×
• Total profit: $-101,291
• Equity at exit: $13,402

Cash invested: $43,400 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 37 active · 13 under contract
• Months of supply: 11.1 mo (9%/mo absorbed)
• Median asking: $190,000 ($346/sqft)
• Median days on market: 103 d
• This list price: 22% of active listings are priced below it
• ARV vs active asking: +14.5% above current asking $/sqft

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

ZIP-level market 97201

• Rents YoY: 0.9%
• Active inventory: 290
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,299 high
• Mortgage (P&I): −$813
• Tax est. 1.5%: −$194 /mo · $2,325/yr
• Insurance: −$65
• HOA: −$448
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $-493

Break-even live

Break-even rent $1,923

Max offer price $83,652

Occupancy floor —

Sensitivity live

Price	-10% $-386	-5% $-440	+0% $-493	+5% $-547	+10% $-600
Rent	-10% $-596	-5% $-544	+0% $-493	+5% $-442	+10% $-390
Rate	-1.0pp $-415	-0.5pp $-454	base $-493	+0.5pp $-533	+1.0pp $-574

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: $38,750
• Closing costs: $4,650
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1129 SW Columbia St Portland, OR	1.0	1.0	412	$1,195	$2.90	0d	6	0.01mi
1104 SW Columbia St #302 Portland, OR	1.0	1.0	623	$1,800	$2.89	113d	1	0.03mi
1402-1406 SW 12th Ave Unit 8 Portland, OR	1.0	1.0	500	$1,125	$2.25	9d	1	0.03mi
1402-1406 SW 12th Ave Unit 9 Portland, OR	1.0	1.0	400	$999	$2.50	94d	1	0.03mi
1402 SW 12th Ave Unit 2 Portland, OR	1.0	1.0	725	$1,225	$1.69	9d	1	0.03mi
1415 SW 11th Ave Portland, OR	2.0	1.0	700	$1,495	$2.14	0d	1	0.04mi
1030 SW Jefferson St Portland, OR	1.0	1.0	667	$1,476	$2.21	2d	5	0.04mi
1221 SW 11th Ave Portland, OR	2.0	1.0–2.0	801	$1,920	$2.40	0d	15	0.05mi
1410 SW 11th Ave #201 Portland, OR	—	1.0	490	$1,350	$2.76	80d	1	0.05mi
1410 SW 11th Ave Unit MOS201 Portland, OR	—	1.0	490	$1,300	$2.65	70d	1	0.05mi
1217 SW 11th Ave Unit 108 Portland, OR	1.0	1.0	552	$995	$1.80	100d	1	0.06mi
1417 SW 10th Ave Portland, OR	—	1.0	453	$1,075	$2.37	139d	1	0.07mi
1240 SW Columbia St Portland, OR	1.0	1.0	464	$1,100	$2.37	76d	1	0.07mi
1240 SW Columbia St Apt 405 Portland, OR	1.0	1.0	464	$1,100	$2.37	94d	1	0.07mi
1240 SW Columbia St Portland, OR	1.0	1.0	464	$1,100	$2.37	119d	1	0.07mi
1500 SW 12th Ave Portland, OR	1.0	1.0	667	$1,503	$2.25	4d	4	0.08mi
1515 SW 11th Ave Portland, OR	1.0	1.0	437	$1,350	$3.09	4d	7	0.09mi
1500 SW 11th Ave #506 Portland, OR	1.0	1.0	603	$1,550	$2.57	113d	1	0.09mi
1312 SW 10th Ave Portland, OR	1.0	1.0	402	$1,170	$2.91	0d	9	0.10mi
1126 SW 12th Ave Apt 306 Portland, OR	—	1.0	400	$1,050	$2.62	106d	1	0.10mi
1126 SW 12th Ave Portland, OR	—	1.0	307	$975	$3.17	80d	3	0.10mi
1126 SW 12th Ave Apt 102 Portland, OR	—	1.0	400	$1,000	$2.50	139d	1	0.10mi
1177 SW Market St Portland, OR	2.0	1.0–2.0	749	$2,050	$2.74	0d	16	0.10mi
1405 SW Park Ave Portland, OR	—	1.0	450	$1,100	$2.44	69d	1	0.12mi
1431 SW Park Ave Unit 505 Portland, OR	1.0	1.0	550	$1,350	$2.45	97d	1	0.13mi
1431 SW Park Ave Unit 305 Portland, OR	1.0	1.0	550	$1,300	$2.36	4d	1	0.13mi
1431 SW Park Ave Apt 407 Portland, OR	1.0	1.0	550	$1,350	$2.45	119d	1	0.13mi
1431 SW Park Ave Unit 102 Portland, OR	—	1.0	370	$1,125	$3.04	4d	1	0.13mi
1431 SW Park Ave Unit 509 Portland, OR	—	1.0	400	$1,200	$3.00	4d	1	0.13mi
1431 SW Park Ave Apt 309 Portland, OR	—	1.0	400	$1,200	$3.00	119d	1	0.13mi
1431 SW Park Ave Portland, OR	1.0	1.0	550	$1,350	$2.45	117d	1	0.13mi
1431 SW Park Ave Unit 605 Portland, OR	1.0	1.0	550	$1,375	$2.50	88d	1	0.13mi
1431 SW Park Ave Unit 706 Portland, OR	—	1.0	400	$1,250	$3.12	70d	1	0.13mi
1431 SW Park Ave Unit 704 Portland, OR	1.0	1.0	550	$1,400	$2.55	62d	1	0.13mi
1431 SW Park Ave Unit 405 Portland, OR	1.0	1.0	550	$1,250	$2.27	119d	1	0.13mi
1431 SW Park Ave Portland, OR	1.0	1.0	550	$1,525	$2.77	59d	1	0.13mi
1431 SW Park Ave Unit 101 Portland, OR	1.0	1.0	650	$1,250	$1.92	97d	1	0.13mi
1431 SW Park Ave Unit 507 Portland, OR	1.0	1.0	550	$1,400	$2.55	97d	1	0.13mi
1431 SW Park Ave Portland, OR	2.0	1.0	597	$1,562	$2.62	6d	9	0.13mi
1431 SW Park Ave Portland, OR	1.0	1.0	550	$1,550	$2.82	97d	1	0.13mi

Property features AI

Finance

• Other: Condo complex has 25 units and one common elevatorNo assigned or deeded storageNo garage; unit does not include private garage
• Financial info: Monthly HOA fee of $448Rent policy allows rentals of 30 days or longer
• HOA & community: HOA with exterior maintenance, laundry, management, sewer, trash, water and utilities includedMonthly HOA feeMove-in/move-out fee applies

Exterior

• Parking: No deeded or assigned garage parkingNo tandem parking
• Security: Entry security
• Utilities: Public waterPublic sewerElectricity and gas serviceCable internet available
• Home design: Residential condominiumOne-level floor planUpper floor unit (level 3 of 5)Conversion buildingEntry security
• Construction: Built in 1903Concrete perimeter foundation
• Exterior features: Stucco exteriorPaved road accessCity view

Interior

• Kitchen: DishwasherFree-standing rangeFree-standing refrigeratorStainless steel appliances
• Bedrooms: Primary bedroom (main level)
• Flooring: Wood floors
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Gas stove heatingZoned heatingNo central cooling
• Interior features: Wood floorsFinished basementVinyl window framesGas stove fireplace
• Laundry & utility: Laundry available (HOA amenity)

HOA detail $448/mo · $5,376/yr

• Likely covers: gas

Listing history 7 events

1. 2026-06-18
   days on market $155,000 Active 10 DOM
2. 2026-06-17
   days on market $155,000 Active 9 DOM
3. 2026-06-16
   days on market $155,000 Active 8 DOM
4. 2026-06-15
   days on market $155,000 Active 7 DOM
5. 2026-06-13
   days on market $155,000 Active 5 DOM
6. 2026-06-09
   remarks 699-char remark
7. 2026-06-09
   listed $155,000 Active 1 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥91°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 19 unhealthy d/yr today · 20 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,586
• − Mortgage interest: −$8,682
• − Property taxes: −$2,325
• − Insurance: −$775
• − Repairs & maintenance: −$1,247
• − Management: −$1,247
• − HOA: −$5,376
• − Depreciation: −$4,509
• Taxable loss: −$8,575
• Est. tax savings @ 24.0%: +$2,058
• After-tax cash flow: $-3,859/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 · 9 photos

Good 75/100 Cosmetic rehab Est. rehab $2,520–$7,560 screening

This charming one-bedroom condo in the Eleventh Avenue Lofts is in good condition with modern amenities and a well-maintained exterior. It's a great opportunity for an owner-occupant or investor.

Value-add opportunities

• Both painting — Fresh paint can make a significant difference in curb appeal and interior aesthetics ↑
• Both landscaping — A well-maintained garden can enhance curb appeal and attract potential buyers ↑
• Both minor repairs — Small fixes can improve the home's condition and make it more attractive to buyers ↑

ⓘ Rehab cost is a screening estimate — Cosmetic 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 Ainsworth Elementary School Middle West Sylvan 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

• Census place: Portland, OR
• County: Multnomah County · 930,825 people
• City population: 774,334
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 16,887
• Household income: $63,250
• Rent vs Own: 72.8% rent · 27.2% own
• Severe rent burden: 10% 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 (68%)
• Race & ethnicity: White 68% Asian 12% Two or more races 9% Hispanic / Latino 9% Black 4% Native American 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 5% Portuguese 3% Romanian 3%
• Foreign-born: 16% · China, Canada, Vietnam
• Languages at home: 83% English-only · Spanish 6% Chinese 4% Other Asian/Pacific 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: ▼ -258.86%
• Current HPI: 187.3846
• Rent YoY: ▲ 0.87%
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• 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

Property features AI

Finance

• Other: Condo complex has 25 units and one common elevatorNo assigned or deeded storageNo garage; unit does not include private garage
• Financial info: Monthly HOA fee of $448Rent policy allows rentals of 30 days or longer
• HOA & community: HOA with exterior maintenance, laundry, management, sewer, trash, water and utilities includedMonthly HOA feeMove-in/move-out fee applies

Exterior

• Parking: No deeded or assigned garage parkingNo tandem parking
• Security: Entry security
• Utilities: Public waterPublic sewerElectricity and gas serviceCable internet available
• Home design: Residential condominiumOne-level floor planUpper floor unit (level 3 of 5)Conversion buildingEntry security
• Construction: Built in 1903Concrete perimeter foundation
• Exterior features: Stucco exteriorPaved road accessCity view

Interior

• Kitchen: DishwasherFree-standing rangeFree-standing refrigeratorStainless steel appliances
• Bedrooms: Primary bedroom (main level)
• Flooring: Wood floors
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Gas stove heatingZoned heatingNo central cooling
• Interior features: Wood floorsFinished basementVinyl window framesGas stove fireplace
• Laundry & utility: Laundry available (HOA amenity)