8309 8315 N Dwight Ave · Portland, OR 97203

$859,000

8 bd · 4.0 ba · 3,185 sqft · MultiFamily public records · 105 Days on market

Built 1955 0.29 ac lot $270/sqft · 11% above area Est $773k · 11% over

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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).

• Cash flow +15.6/30.0
• DSCR +4.8/10.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• 1% rule +3.6/10.0
• Rent growth +3.0/5.0
• ARV discount +2.5/15.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

PRIME INVESTMENT OPPORTUNITY- 8 Plex in a highly walkable Portsmouth Neighborhood on two separate lots, with a 9% rent increase coming August of 2026. Rare opportunity to acquire a well-located 8-unit multifamily property. Situated on 0.58 acers in the desirable and highly walkable Portsmouth neighborhood. This well maintained property has a newer 50 year roof and features eight 2 bedroom, 1 bath units, each equipped with a refrigerator and range, filled with natural light, large common front yard offering open green space. On site coin laundry and assigned parking located at the rear of the property. An excellent opportunity for investors seeking steady rental income in a strong location, or for owner-operators looking for solid long term assets in a sought after neighborhood.

Key facts

• Common front yard
• Open green space
• Newer 50 year roof

Tags

• 0.29 ACRES
• NEWER 50 YEAR ROOF
• COMMON FRONT YARD
• OPEN GREEN SPACE
• ON SITE COIN LAUNDRY
• ASSIGNED PARKING

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $859k.

Deal economics

• At list price, monthly cash flow is $354 ($4k/yr) — positive. Per door: $89/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $740k (13.9% below list).
• Recommended offer: $740k (13.9% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 2.2% 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.
• Market conditions: Rents rising (+2.1%/yr); 205 active listings in the ZIP; solid renter incomes; 2,041 units permitted in Multnomah County in 2024 (905 in 5+ unit buildings).
• At $7,396/mo this rent would consume 113% of the median local household income ($79k/yr) (locally 1401% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $26k 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 105 days — a 9% lower offer ($782k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $66k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $173k; list at $859k implies a 397% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $739,600 (13.9% below list)

Questions for the listing agent

1. It's been on market 105 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.86% ✗
• Cap rate: 6.79%
• Cash-on-cash: 1.77%
• DSCR: 1.08
• GRM: 9.7

CMA / ARV

• ARV (median comp): $772,815
• List price: $859,000
• Delta: 11.15%
• Verdict: OVERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7450 N Portsmouth Ave	0.46mi	8/4.0	3,152 (-1%)	10mo	$808,000	$256	69

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 · 2.11% rent growth · sell at horizon

5-year hold

• IRR: -14.4%
• Equity multiple: 0.49×
• Total profit: $-123,367
• Equity at exit: $128,080

10-year hold

• IRR: -7.2%
• Equity multiple: 0.56×
• Total profit: $-105,504
• Equity at exit: $74,271

Cash invested: $240,520 (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 →

ZIP-level market 97203

• Rents YoY: 2.1%
• Active inventory: 205
• Price-to-rent: 38.7×

Monthly cashflow live

• Estimated rent: $7,396 high
• Mortgage (P&I): −$4,505
• Tax from tax record: −$626 /mo · $7,513/yr
• Insurance: −$358
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,553
• Net cashflow: $354

Break-even live

Break-even rent $6,948

Max offer price $859,000

Occupancy floor 90%

Sensitivity live

Price	-10% $840	-5% $597	+0% $354	+5% $111	+10% $-132
Rent	-10% $-230	-5% $62	+0% $354	+5% $646	+10% $938
Rate	-1.0pp $787	-0.5pp $573	base $354	+0.5pp $132	+1.0pp $-95

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$7,396
Total (4 units)			$7,396

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: $214,750
• Closing costs: $25,770
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $859,000 Active 105 DOM
2. 2026-06-17
   days on market $859,000 Active 104 DOM
3. 2026-06-16
   days on market $859,000 Active 103 DOM
4. 2026-06-15
   days on market $859,000 Active 102 DOM
5. 2026-06-13
   days on market $859,000 Active 100 DOM
6. 2026-06-09
   days on market $859,000 Active 96 DOM
7. 2026-06-08
   days on market $859,000 Active 95 DOM
8. 2026-06-07
   days on market $859,000 Active 94 DOM
9. 2026-06-03
   days on market $859,000 Active 90 DOM
10. 2026-06-02
    pricedays on market $859,000 Active 89 DOM
11. 2026-06-01
    days on market $875,000 Active 88 DOM
12. 2026-05-31
    days on market $875,000 Active 87 DOM
13. 2026-04-20
    price $1,750,000 789-char remark

    Show marketing remark (822 chars)

    PRIME INVESTMENT OPPORTUNITY- 4 Plex in a highly walkable Portsmouth Neighborhood with a 9% rent increase coming August of 2026. Rare opportunity to acquire a well-located 4-unit multifamily property. Situated on 0.29 acers in the desirable and highly walkable Portsmouth neighborhood. This well maintained property has a newer 50 year roof and features four 2 bedroom, 1 bath units, each equipped with a refrigerator and range, filled with natural light, large common front yard offering open green space. On site coin laundry and assigned parking located at the rear of the property. An excellent opportunity for investors seeking steady rental income in a strong location, or for owner-occupied looking for solid long term assets in a sought after neighborhood. Property is part of a two-lot offering, call for details!

14. 2026-04-20
    price $875,000 822-char remark

    Show marketing remark (822 chars)

    PRIME INVESTMENT OPPORTUNITY- 4 Plex in a highly walkable Portsmouth Neighborhood with a 9% rent increase coming August of 2026. Rare opportunity to acquire a well-located 4-unit multifamily property. Situated on 0.29 acers in the desirable and highly walkable Portsmouth neighborhood. This well maintained property has a newer 50 year roof and features four 2 bedroom, 1 bath units, each equipped with a refrigerator and range, filled with natural light, large common front yard offering open green space. On site coin laundry and assigned parking located at the rear of the property. An excellent opportunity for investors seeking steady rental income in a strong location, or for owner-occupied looking for solid long term assets in a sought after neighborhood. Property is part of a two-lot offering, call for details!

15. 2026-03-25
    price $895,000 822-char remark

    Show marketing remark (822 chars)

    PRIME INVESTMENT OPPORTUNITY- 4 Plex in a highly walkable Portsmouth Neighborhood with a 9% rent increase coming August of 2026. Rare opportunity to acquire a well-located 4-unit multifamily property. Situated on 0.29 acers in the desirable and highly walkable Portsmouth neighborhood. This well maintained property has a newer 50 year roof and features four 2 bedroom, 1 bath units, each equipped with a refrigerator and range, filled with natural light, large common front yard offering open green space. On site coin laundry and assigned parking located at the rear of the property. An excellent opportunity for investors seeking steady rental income in a strong location, or for owner-occupied looking for solid long term assets in a sought after neighborhood. Property is part of a two-lot offering, call for details!

16. 2026-03-24
    price $1,790,000 789-char remark

    Show marketing remark (789 chars)

    PRIME INVESTMENT OPPORTUNITY- 8 Plex in a highly walkable Portsmouth Neighborhood on two separate lots, with a 9% rent increase coming August of 2026. Rare opportunity to acquire a well-located 8-unit multifamily property. Situated on 0.58 acers in the desirable and highly walkable Portsmouth neighborhood. This well maintained property has a newer 50 year roof and features eight 2 bedroom, 1 bath units, each equipped with a refrigerator and range, filled with natural light, large common front yard offering open green space. On site coin laundry and assigned parking located at the rear of the property. An excellent opportunity for investors seeking steady rental income in a strong location, or for owner-operators looking for solid long term assets in a sought after neighborhood.

17. 2026-03-05
    listed $924,500 Active 822-char remark

    Show marketing remark (822 chars)

    PRIME INVESTMENT OPPORTUNITY- 4 Plex in a highly walkable Portsmouth Neighborhood with a 9% rent increase coming August of 2026. Rare opportunity to acquire a well-located 4-unit multifamily property. Situated on 0.29 acers in the desirable and highly walkable Portsmouth neighborhood. This well maintained property has a newer 50 year roof and features four 2 bedroom, 1 bath units, each equipped with a refrigerator and range, filled with natural light, large common front yard offering open green space. On site coin laundry and assigned parking located at the rear of the property. An excellent opportunity for investors seeking steady rental income in a strong location, or for owner-occupied looking for solid long term assets in a sought after neighborhood. Property is part of a two-lot offering, call for details!

18. 2026-02-12
    price $1,849,000 789-char remark

    Show marketing remark (789 chars)

    PRIME INVESTMENT OPPORTUNITY- 8 Plex in a highly walkable Portsmouth Neighborhood on two separate lots, with a 9% rent increase coming August of 2026. Rare opportunity to acquire a well-located 8-unit multifamily property. Situated on 0.58 acers in the desirable and highly walkable Portsmouth neighborhood. This well maintained property has a newer 50 year roof and features eight 2 bedroom, 1 bath units, each equipped with a refrigerator and range, filled with natural light, large common front yard offering open green space. On site coin laundry and assigned parking located at the rear of the property. An excellent opportunity for investors seeking steady rental income in a strong location, or for owner-operators looking for solid long term assets in a sought after neighborhood.

19. 2026-01-26
    listed $1,999,000 Active 789-char remark

    Show marketing remark (789 chars)

    PRIME INVESTMENT OPPORTUNITY- 8 Plex in a highly walkable Portsmouth Neighborhood on two separate lots, with a 9% rent increase coming August of 2026. Rare opportunity to acquire a well-located 8-unit multifamily property. Situated on 0.58 acers in the desirable and highly walkable Portsmouth neighborhood. This well maintained property has a newer 50 year roof and features eight 2 bedroom, 1 bath units, each equipped with a refrigerator and range, filled with natural light, large common front yard offering open green space. On site coin laundry and assigned parking located at the rear of the property. An excellent opportunity for investors seeking steady rental income in a strong location, or for owner-operators looking for solid long term assets in a sought after neighborhood.

20. 1995-05-22
    soldstatus $173,000
21. 1995-05-22
    soldstatus $173,000
22. 1993-10-21
    soldstatus $150,000
23. 1993-10-21
    soldstatus $150,000
24. 1993-02-22
    soldstatus $80,000

ⓘ 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: $7,513 · $626/mo
• Projected year-2 tax: $8,332 · $694/mo
• Expected delta: +$820/yr (+$68/mo · 10.9%)

ⓘ 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 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: $88,752
• − Mortgage interest: −$48,117
• − Property taxes: −$7,513
• − Insurance: −$4,295
• − Repairs & maintenance: −$7,100
• − Management: −$7,100
• − Depreciation: −$24,989
• Taxable loss: −$10,363
• Est. tax savings @ 24.0%: +$2,487
• After-tax cash flow: $6,737/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: 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

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 · 786,692 people
• City population: 774,334
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 33,116
• Household income: $78,660
• Rent vs Own: 43.0% rent · 57.0% own
• Severe rent burden: 1401.0

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 55% Hispanic / Latino 17% Two or more races 16% Black 12% Asian 6% Native American 1% Pacific Islander 1%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Italian 3% Portuguese 3% Slovak 3%
• Foreign-born: 10% · Canada, China
• Languages at home: 81% English-only · Spanish 11% Other Asian/Pacific 3% Other Indo-European 1%

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: ▼ -356.36%
• Current HPI: 348.4979
• Rent YoY: ▲ 2.11%
• 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

+2087.5% since first listed

12 events — show timeline

• 2026-04-20 Price Changed $1,750,000 RMLS
• 2026-04-20 Price Changed $875,000 RMLS
• 2026-03-25 Price Changed $895,000 RMLS
• 2026-03-24 Price Changed $1,790,000 RMLS
• 2026-03-05 Listed $924,500 RMLS
• 2026-02-12 Price Changed $1,849,000 RMLS
• 2026-01-26 Listed $1,999,000 RMLS
• 1995-05-22 Sold (Public Records) $173,000 Public Records
• 1995-05-22 Sold (Public Records) $173,000 Public Records
• 1993-10-21 Sold (Public Records) $150,000 Public Records
• 1993-10-21 Sold (Public Records) $150,000 Public Records
• 1993-02-22 Sold (Public Records) $80,000 Public Records

Property tax history

+4.4%/yr

Latest (2025): $7,513 · +3.7% YoY. Source: county tax records.