11524 SW Royal Villa Dr · Tigard, OR 97224

$59,900

2 bd · 2.0 ba · 1,140 sqft · Manufactured · 12 Days on market

Built 1971 Good condition Est $95k · 37% under

---

Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.9/10.0
• Livability +4.4/5.0
• Condition / age +3.8/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

55+ APPROVED PARK, TERRIFIC 2BD, 2BA, 1140SF, COVERED PATIO, TWO CAR PARKING, STORAGE SHED, GREAT PARK LOCATION, GREAT REC. FACILITIES, CLUB HOUSE, POOL, ETC. NEW WINDOWS. WASHER/DRYER INCLUDED.

Key facts

• Large windows
• Pantry
• Built-in cabinets

Tags

• UPDATED FLOORING
• REMODELED BATHROOMS
• NEW INTERIOR PAINT
• LARGE WINDOWS
• BUILT-IN CABINETS
• PANTRY

Property features AI

Finance

• Other: Property type: Manufactured home in park; Main level area reported as 1,140; Year built: 1971
• Financial info: Home is land-leased (monthly lot rent); Land lease in effect through December 31, 2099
• HOA & community: Community amenities include library, management office, meeting room, party room, pool, recreation facilities, and weight room; Senior community; Park name: Royal Villas; Pet restrictions apply (see rules)

Exterior

• Parking: Carport (2 parking spaces)
• Security: Senior community park with on-site management and community amenities
• Utilities: Public water; Public sewer; Electric power
• Home design: Manufactured home in a park (residential); Single-level living; Not attached to another property; Built in 1971; Manufacturer: Golden Mansion
• Construction: Skirting foundation
• Exterior features: Covered patio; Fenced yard; Fire pit; Tool shed; Workshop; Yard; Vinyl siding; Level lot; Paved road access

Interior

• Kitchen: Built-in oven; Cooktop; Dishwasher; Free-standing refrigerator; Stainless steel appliances
• Bedrooms: Primary bedroom on main level with attached bathroom and closet; Second bedroom on main level with closet
• Flooring: Laminate flooring in living areas, kitchen, dining, and bedrooms
• Bathrooms: Two full bathrooms, both on the main level; Primary bathroom features a walk-in shower
• Heating & cooling: Forced air heating; Central air conditioning; Electric fuel
• Interior features: Main-floor living with accessibility features; Walk-in shower; Laundry area with exterior entry; Laminate flooring throughout main rooms; Washer/Dryer included
• Laundry & utility: Main-level laundry with washer and dryer and exterior entry; Electric tank water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $60k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $968 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Cap rate 25.7% vs local median 2.5% in Tigard — 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 87/100 on livability (#14 in OR, #311 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: crime D-, cost of living F.
• Tigard-Tualatin SD 23J (suburban): math 47% / reading 65% proficiency, ranked #6 of 58 in OR (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: James Templeton Elementary School (reading 24%, 514 students, 47% FRL); Twality Middle School (math 54% / reading 64%, grade B, #17 of 128 statewide, top 14%, 918 students, 31% FRL); Tigard High School (math 24% / reading 75%, grade D+, #32 of 143 statewide, top 34%, 1,799 students, 31% FRL).
• Market conditions: Rents soft (-0.4%/yr); 412 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,224 units permitted in Washington County in 2024 (242 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Washington County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 27y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $16k; list at $60k implies a 274% gain — meaningful room to come down on a strong offer.

Recommended offer $59,900

Questions for the listing agent

1. Built in 1971 — 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 B-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. Crime grade is D 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?
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: 2.92% ✓
• Cap rate: 25.68%
• Cash-on-cash: 69.25%
• DSCR: 4.08
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $94,620
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11568 SW Royal Villa Dr	0.17mi	2/2.0	1,152 (+1%)	9mo	$155,000	$135	83
11491 SW Royal Villa Dr	0.20mi	2/2.0	1,152 (+1%)	10mo	$129,000	$112	81
11489 SW Royal Villa Dr #196	0.09mi	2/2.0	1,080 (-5%)	10mo	$73,000	$68	79
11768 SW Royal Villa Dr #124	0.20mi	2/2.0	1,248 (+10%)	2mo	$28,000	$22	73
11460 SW Royal Villa Dr	0.12mi	2/2.0	1,248 (+10%)	9mo	$72,500	$58	71
11714 SW Royal Villa Dr #97	0.18mi	2/2.0	1,248 (+10%)	12mo	$132,400	$106	65
17009 SW Eldorado Dr #5	0.71mi	2/2.0	1,152 (+1%)	1mo	$60,000	$52	64
11501 SW Royal Villa Dr #202	0.12mi	3/2.0 (+1)	1,237 (+8%)	14mo	$162,500	$131	64
17041 SW Eldorado Dr	0.71mi	2/2.0	1,152 (+1%)	3mo	$81,500	$71	63
17084 SW Eldorado Dr	0.68mi	2/2.0	1,152 (+1%)	7mo	$42,000	$36	61
12450 SW Fischer Rd #147	0.60mi	2/2.0	1,204 (+6%)	12mo	$100,000	$83	52
12450 SW Fischer Rd #260	0.60mi	3/2.0 (+1)	1,296 (+14%)	12mo	$149,083	$115	34

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: 65.3%
• Equity multiple: 3.79×
• Total profit: $46,840
• Equity at exit: $8,931

10-year hold

• IRR: 68.7%
• Equity multiple: 6.99×
• Total profit: $100,464
• Equity at exit: $5,179

Cash invested: $16,772 (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 97224

• Rents YoY: -0.4%
• Active inventory: 412
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,749 high
• Mortgage (P&I): −$314
• Tax est. 1.5%: −$75 /mo · $898/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $968

Break-even live

Break-even rent $524

Max offer price $59,900

Occupancy floor 40%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17000 SW Pacific Hwy Portland, OR	1.0–2.0	1.0–2.0	684	$1,575	$2.30	43d	3	0.28mi
12070 SW Fischer Rd Portland, OR	1.0–3.0	1.0–2.0	925	$1,812	$1.96	1d	9	0.41mi
16055 SW 108th Ave Tigard, OR	1.0–2.0	1.0–2.0	852	$1,940	$2.28	7d	9	0.43mi
10900 SW Gaarde St Portland, OR	2.0	1.0	825	$1,525	$1.85	7d	4	0.49mi
10900 SW Gaarde St Unit 273-16 Tigard, OR	2.0	1.0	900	$1,575	$1.75	23d	1	0.49mi
11865 SW Tualatin Rd Tualatin, OR	2.0–3.0	2.0–2.5	1154	$1,697	$1.47	1d	19	0.55mi
17989 SW 115th Ave Tualatin, OR	2.0	1.0–1.5	982	$1,550	$1.58	23d	2	0.63mi
17979 SW 115th Ave Unit 6 Tualatin, OR	2.0	1.5	1064	$1,625	$1.53	23d	1	0.63mi
17987 SW 115th Ave Unit 1 Tualatin, OR	2.0	1.0	900	$1,475	$1.64	23d	1	0.64mi
17865 SW Pacific Hwy Tualatin, OR	1.0–3.0	1.0–2.0	970	$1,970	$2.03	1d	13	0.78mi
11773 SW King George Dr King City, OR	1.0–2.0	1.0–2.0	826	$2,500	$3.03	11d	7	0.80mi
11390 SW Naeve St Tigard, OR	1.0–2.0	1.0–2.0	893	$2,119	$2.37	3d	5	0.83mi
15199 SW Royalty Pkwy Portland, OR	1.0–3.0	1.0–2.0	884	$1,805	$2.04	1d	12	0.83mi
16444 SW 130th Ter King City, OR	2.0	2.0	1002	$1,695	$1.69	43d	1	0.86mi
13060 SW Dickson St Portland, OR	2.0	2.0	1108	$1,850	$1.67	43d	1	0.90mi
11545 SW Beef Bend Rd Portland, OR	2.0	2.0	935	$1,514	$1.62	3d	1	0.91mi
16849 SW 131st Ave Portland, OR	2.0	2.0	1029	$1,950	$1.90	14d	1	0.95mi
14844 SW 109th Ave Portland, OR	2.0	1.5	1024	$1,950	$1.90	43d	1	0.96mi
16901 SW 132nd Ter Unit 16915 B Tigard, OR	1.0	1.0	714	$1,695	$2.37	4d	1	0.97mi
14799 SW 109th Ave Unit 5702 Tigard, OR	2.0	2.0	986	$1,745	$1.77	22d	1	1.00mi
14799 SW 109th Ave Unit 2502 Tigard, OR	2.0	2.0	986	$1,645	$1.67	43d	1	1.00mi
14799 SW 109th Ave Unit 7504 Tigard, OR	2.0	2.0	986	$1,575	$1.60	23d	1	1.00mi
14799 SW 109th Ave Unit 3102 Tigard, OR	2.0	2.0	986	$1,695	$1.72	7d	1	1.00mi
10695 SW Murdock St Tigard, OR	2.0	1.0	793	$1,806	$2.28	1d	13	1.03mi
11430 SW Bull Mountain Rd Tigard, OR	2.0	2.0	986	$1,970	$2.00	3d	6	1.03mi
9720 SW Tualatin Rd Tualatin, OR	2.0	2.0	1100	$1,750	$1.59	43d	1	1.04mi
10779 SW Canterbury Ln Tigard, OR	3.0	2.5	1350	$2,275	$1.69	14d	1	1.20mi
10775 SW Canterbury Ln #102 Portland, OR	3.0	3.0	1373	$2,495	$1.82	23d	1	1.22mi
14100 SW 112th Ave Unit A03 Portland, OR	1.0	1.0	840	$1,550	$1.85	43d	1	1.28mi
14100 SW 112th Ave Unit F06 Portland, OR	2.0	1.0	840	$1,614	$1.92	43d	1	1.28mi
14100 SW 112th Ave Unit I08 Portland, OR	2.0	1.0	1084	$1,614	$1.49	12d	1	1.28mi
15870 SW 88th Ave Unit A Tigard, OR	2.0	1.0	1013	$1,745	$1.72	43d	1	1.30mi
11050 SW Gaarde St Portland, OR	2.0	1.0	776	$1,400	$1.80	43d	1	1.30mi
10900 SW Gaarde St Unit 273-04 Tigard, OR	2.0	1.0	750	$1,350	$1.80	23d	1	1.31mi
14130 SW 105th Ave Portland, OR	2.0	1.0	900	$1,495	$1.66	23d	1	1.33mi
14070 SW 112th Ave Portland, OR	1.0	1.0	700	$1,250	$1.79	43d	1	1.34mi
10450 SW McDonald St Unit 46 Portland, OR	2.0	1.0	800	$1,475	$1.84	43d	1	1.38mi
13830 SW Chinn Ln Portland, OR	1.0–3.0	1.0–2.0	839	$1,724	$2.05	3d	11	1.38mi
10450 SW McDonald St Unit 51 Portland, OR	1.0	1.0	700	$1,325	$1.89	43d	1	1.39mi
10450 SW McDonald St Unit 5 Tigard, OR	2.0	1.0	800	$1,475	$1.84	20d	1	1.40mi

Listing history 9 events

1. 2026-06-18
   days on market $59,900 Active 12 DOM
2. 2026-06-17
   days on market $59,900 Active 11 DOM
3. 2026-06-16
   days on market $59,900 Active 10 DOM
4. 2026-06-15
   days on market $59,900 Active 9 DOM
5. 2026-06-13
   days on market $59,900 Active 7 DOM
6. 2026-06-09
   days on market $59,900 Active 3 DOM
7. 2026-06-08
   days on market $59,900 Active 2 DOM
8. 2026-06-07
   remarks 699-char remark
9. 2026-06-07
   listed $59,900 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 ≥92°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 12 unhealthy d/yr today · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,990
• − Mortgage interest: −$3,355
• − Property taxes: −$898
• − Insurance: −$300
• − Repairs & maintenance: −$1,679
• − Management: −$1,679
• − Depreciation: −$1,743
• Taxable income: $11,336
• Est. tax owed @ 24.0%: −$2,721
• After-tax cash flow: $8,894/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 · 12 photos

Good 75/100 Cosmetic rehab

This 1140 square foot, 2-bedroom, 2-bath home in a 55+ community is in good condition with recent updates and improvements.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value
• Both exterior paint — refreshes the home's appearance
• Both newer appliances — improves functionality and appeal

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — enhances curb appeal and adds value ↑
• Both exterior paint — refreshes the home's appearance ↑
• Both newer appliances — improves functionality and appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Tigard-Tualatin SD 23J
• NCES district ID: 4112240
• Math proficiency: 47% ▼ -3.00%
• Reading proficiency: 65% ▲ 3.00%
• Median HH income: $60,739
• Composite: 48.72/100
• National rank: #2100
• State rank: #6 of 58 in OR

Livability — Tigard

• Score: 87/100
• State rank: #14
• US rank: #311

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Washington County · 583,254 people
• City population: 87,096
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 36,569
• Household income: $98,125
• Rent vs Own: 30.0% rent · 70.0% own
• Severe rent burden: 1468.0

Population outlook (Washington County) Hauer SSP2

• Today (2025): 674,042 people
• By 2030: 721,804 · +7.1%
• By 2040: 812,732 · +20.6%
• By 2050: 895,143 · +32.8%
• By 2075: 1,058,806 · +57.1%
• By 2100: 1,131,692 · +67.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 10% Two or more races 8% Asian 8% Black 3%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 4% Lithuanian 4% Slovak 3%
• Foreign-born: 13% · Canada, Vietnam, China
• Languages at home: 83% English-only · Spanish 7% Other Indo-European 3% Vietnamese 2%

Political lean MEDSL · Washington

• 2024 margin: Solid D (+34.0) · D 65.3% · R 31.3% · Other 3.4%
• 2008→2024 swing: +11.8pp toward D · 2008: 22.1pp · 2024: 34.0pp
• All cycles: 2024: D+34.0 2020: D+34.6 2016: D+26.7 2012: D+17.5 2008: D+22.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -287.40%
• Current HPI: 277.57
• Rent YoY: ▼ -0.38%
• 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

+216.9% since first listed

3 events — show timeline

• 2026-06-06 Listed $59,900 RMLS
• 1999-09-02 Sold (MLS) $16,000 RMLS
• 1999-06-29 Listed $18,900 RMLS