15758 SE Highway 224 #85 · Damascus, OR 97089

$150,900

3 bd · 2.0 ba · 1,368 sqft · Other · 77 Days on market

Built 1971 $110/sqft · 34% above area Est $112k · 34% over

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Why this score? — see what drove the C+ 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
• Livability +3.5/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

A completely turn-key, renovated home in Damascus's Riverview Community. This all all ages park is perfect for anyone looking for ease of living, friendly neighbors and a private walking trail to the Clackamas river. Remodeled in 2021, this home features 3 bedrooms and two bathrooms. The primary suite is spacious and the attached bathroom is the perfect place to start your day. The kitchen boasts ample cabinetry, quartz counter tops and an oversized pantry. Outside you'll find refreshed decks on the front and back of the home, a covered carport, tool shed/storage and a completely fenced yard, perfect for your pups. The park is well maintained and management is friendly. Space rent is $890.00 per month.

Key facts

• Covered carport
• Renovated kitchen
• Updated bathrooms

Tags

• RENOVATED KITCHEN
• UPDATED BATHROOMS
• BACKYARD UPGRADE
• TRAIL ACCESS
• COVERED CARPORT
• LOW-MAINTENANCE LIVING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $151k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $151k).
• Recommended offer: $142k (6.0% below list) — sets the bar for market timing.
• Cap rate 17.6% vs local median 2.6% in Damascus — 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 69/100 on livability (#150 in OR) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute 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.
• Market conditions: 51 active listings in the ZIP; 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 $1k of loan paydown is wiped out by about $5k 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 + 3.0% rent growth), your $42k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($142k) is reasonable based on typical stale-listing flexibility.

Recommended offer $141,846 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.07% ✓
• Cap rate: 17.59%
• Cash-on-cash: 40.35%
• DSCR: 2.80
• GRM: 4.0

CMA / ARV

• ARV (median comp): $112,296
• List price: $150,900
• Delta: 34.38%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 36.8%
• Equity multiple: 2.56×
• Total profit: $66,076
• Equity at exit: $22,500

10-year hold

• IRR: 43.4%
• Equity multiple: 5.12×
• Total profit: $174,239
• Equity at exit: $13,047

Cash invested: $42,252 (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 97089

• Active inventory: 51
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $3,118 medium
• Mortgage (P&I): −$791
• Tax est. 1.5%: −$189 /mo · $2,264/yr
• Insurance: −$63
• HOA: −$0
• Vacancy / Maint / Mgmt: −$655
• Net cashflow: $1,421

Break-even live

Break-even rent $1,320

Max offer price $150,900

Occupancy floor 49%

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: $37,725
• Closing costs: $4,527
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $150,900 Active 77 DOM
2. 2026-06-17
   days on market $150,900 Active 76 DOM
3. 2026-06-16
   days on market $150,900 Active 75 DOM
4. 2026-06-15
   days on market $150,900 Active 74 DOM
5. 2026-06-13
   days on market $150,900 Active 72 DOM
6. 2026-06-09
   days on market $150,900 Active 68 DOM
7. 2026-06-08
   days on market $150,900 Active 67 DOM
8. 2026-06-07
   days on market $150,900 Active 66 DOM
9. 2026-06-05
   days on market $150,900 Active 63 DOM
10. 2026-06-03
    days on market $150,900 Active 62 DOM
11. 2026-06-02
    days on market $150,900 Active 61 DOM
12. 2026-06-01
    days on market $150,900 Active 60 DOM
13. 2026-05-31
    days on market $150,900 Active 59 DOM
14. 2026-04-02
    listed $150,900 Active 711-char remark

    Show marketing remark (711 chars)

    A completely turn-key, renovated home in Damascus's Riverview Community. This all all ages park is perfect for anyone looking for ease of living, friendly neighbors and a private walking trail to the Clackamas river. Remodeled in 2021, this home features 3 bedrooms and two bathrooms. The primary suite is spacious and the attached bathroom is the perfect place to start your day. The kitchen boasts ample cabinetry, quartz counter tops and an oversized pantry. Outside you'll find refreshed decks on the front and back of the home, a covered carport, tool shed/storage and a completely fenced yard, perfect for your pups. The park is well maintained and management is friendly. Space rent is $890.00 per month.

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 16 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: $37,420
• − Mortgage interest: −$8,453
• − Property taxes: −$2,264
• − Insurance: −$754
• − Repairs & maintenance: −$2,994
• − Management: −$2,994
• − Depreciation: −$4,390
• Taxable income: $15,572
• Est. tax owed @ 24.0%: −$3,737
• After-tax cash flow: $13,310/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 — Damascus

• Score: 69/100
• State rank: #150
• US rank: #8770

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Damascus, OR
• City population: 14,906
• Population (ZIP): 14,906

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 (82%)
• Race & ethnicity: White 82% Hispanic / Latino 7% Asian 6% Two or more races 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 5% Portuguese 3% Italian 2%
• Foreign-born: 7% · Canada, Vietnam, China
• Languages at home: 90% English-only · Russian/Polish/Slavic 3% Spanish 3% Other Indo-European 1%

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: ▼ -206.70%
• Current HPI: 274.0579
• Rent YoY: —
• Metro: —
• 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

• 2026-04-02 Listed $150,900 RMLS

Property tax history

-2.8%/yr

Latest (2018): $155 · -5.4% YoY. Source: county tax records.