17234 SW Eldorado Dr · King City, OR 97224

$118,900

2 bd · 1.0 ba · 960 sqft · Manufactured · 278 Days on market

Built 2019 $124/sqft · 81% above area ↓ 10% since listing

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Why this score? — see what drove the B 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
• ARV discount +7.5/15.0
• Schools +4.9/10.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

TURN KEY! This 2019 home offers the peace of mind that comes with recent construction, allowing you to move in and start enjoying the lifestyle immediately. Located within the ElDorado Villas 55+ community, this property combines the ease of a newer build with a location that puts everything you need within reach.The 960 square foot interior is defined by an open, light filled atmosphere that feels both spacious and inviting. With two bedrooms and a layout designed for flow, the home is as functional as it is bright. A standout feature is the private, fenced backyard, which is a rare find that provides a dedicated space for pets or a personal garden. You can enjoy your morning coffee on the covered patio or take advantage of the convenience provided by the attached covered carport.Living in ElDorado Villas means more than just a home, it is about the amenities. The community features scenic walking paths, a refreshing pool, a fitness center, and social spaces for billiards and activities. The monthly space rent is $1,257 (water is billed separately and sewer is bi-monthly), which includes access to all community facilities. You are also perfectly positioned near Trader Joe's, major shopping hubs, and easy freeway access for effortless commuting.This is a rare opportunity to secure a nearly new residence in an active, welcoming environment.

Key facts

• Fitness center
• Covered carport
• Scenic walking paths

Tags

• PRIVATE FENCED BACKYARD
• COVERED PATIO
• COVERED CARPORT
• SCENIC WALKING PATHS
• FITNESS CENTER
• COMMUNAL SPACES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $119k.

Deal economics

• At list price, monthly cash flow is $591 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $119k).
• Recommended offer: $105k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.3% vs local median 2.7% in King City — 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 85/100 on livability (#24 in OR, #539 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, housing A+.
• 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.
• Market conditions: Rents soft (-0.4%/yr); 412 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 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 $822 of loan paydown is wiped out by about $4k 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 $33k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 278 days — a 12% lower offer ($105k) is reasonable based on typical stale-listing flexibility.

Recommended offer $104,632 (12.0% below list)

Questions for the listing agent

1. It's been on market 278 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.50% ✓
• Cap rate: 12.26%
• Cash-on-cash: 21.29%
• DSCR: 1.95
• GRM: 5.5

CMA / ARV

• ARV (median comp): $65,696
• List price: $118,900
• Delta: 80.99%
• Verdict: OVERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17003 SW Eldorado Dr	0.10mi	2/2.0	960 (0%)	10mo	$65,000	$68	83
17156 SW Eldorado Dr #90	0.21mi	2/1.0	960 (0%)	19mo	$30,000	$31	74
12450 SW Fischer Rd #143	0.24mi	2/1.0	960 (0%)	18mo	$60,000	$63	74
18485 SW Pacific Dr #44	0.58mi	2/1.0	972 (+1%)	3mo	$91,000	$94	68
17181 SW Eldorado Dr	0.17mi	2/1.0	864 (-10%)	10mo	$14,500	$17	67
17175 SW Eldorado Dr #99	0.15mi	2/1.0	888 (-8%)	18mo	$25,000	$28	65
11526 SW Royal Villa Dr	0.71mi	2/2.0	960 (0%)	2mo	$25,000	$26	61
11550 SW Royal Villa Dr	0.71mi	2/2.0	968 (+1%)	11mo	$145,000	$150	52
11552 SW Royal Villa Dr	0.73mi	2/2.0	960 (0%)	21mo	$22,000	$23	44
18485 SW Pacific Dr #69	0.61mi	2/2.0	1,104 (+15%)	1mo	$68,000	$62	42
11489 SW Royal Villa Dr #196	0.71mi	2/2.0	1,080 (+12%)	10mo	$73,000	$68	34
11449 SW Royal Villa Dr	0.71mi	2/2.0	1,088 (+13%)	20mo	$99,500	$91	24

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: 10.4%
• Equity multiple: 1.39×
• Total profit: $13,146
• Equity at exit: $17,728

10-year hold

• IRR: 16.9%
• Equity multiple: 2.19×
• Total profit: $39,756
• Equity at exit: $10,280

Cash invested: $33,292 (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: 5.5×

Monthly cashflow live

• Estimated rent: $1,788 high
• Mortgage (P&I): −$624
• Tax est. 1.5%: −$149 /mo · $1,784/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $591

Break-even live

Break-even rent $1,040

Max offer price $118,900

Occupancy floor 62%

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: $29,725
• Closing costs: $3,567
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16849 SW 131st Ave Portland, OR	2.0	2.0	1029	$1,950	$1.90	14d	1	0.21mi
16901 SW 132nd Ter Unit 16915 B Tigard, OR	1.0	1.0	714	$1,695	$2.37	4d	1	0.21mi
13060 SW Dickson St Portland, OR	2.0	2.0	1108	$1,850	$1.67	43d	1	0.30mi
16444 SW 130th Ter King City, OR	2.0	2.0	1002	$1,695	$1.69	43d	1	0.34mi
17865 SW Pacific Hwy Tualatin, OR	1.0–3.0	1.0–2.0	970	$1,970	$2.03	1d	13	0.37mi
12070 SW Fischer Rd Portland, OR	1.0–3.0	1.0–2.0	925	$1,812	$1.96	1d	9	0.40mi
17000 SW Pacific Hwy Portland, OR	1.0–2.0	1.0–2.0	684	$1,575	$2.30	43d	3	0.58mi
11865 SW Tualatin Rd Tualatin, OR	2.0–3.0	2.0–2.5	1154	$1,697	$1.47	1d	19	0.60mi
10900 SW Gaarde St Portland, OR	2.0	1.0	825	$1,525	$1.85	7d	4	0.64mi
10900 SW Gaarde St Unit 273-16 Tigard, OR	2.0	1.0	900	$1,575	$1.75	23d	1	0.64mi
17979 SW 115th Ave Unit 6 Tualatin, OR	2.0	1.5	1064	$1,625	$1.53	23d	1	0.69mi
17987 SW 115th Ave Unit 1 Tualatin, OR	2.0	1.0	900	$1,475	$1.64	23d	1	0.74mi
17989 SW 115th Ave Tualatin, OR	2.0	1.0–1.5	982	$1,550	$1.58	23d	2	0.76mi
13830 SW Chinn Ln Portland, OR	1.0–3.0	1.0–2.0	839	$1,724	$2.05	3d	11	0.78mi
14495 SW Beef Bend Rd Portland, OR	1.0–2.0	1.0–2.0	845	$1,925	$2.28	4d	12	0.89mi
11773 SW King George Dr King City, OR	1.0–2.0	1.0–2.0	826	$2,500	$3.03	11d	7	1.10mi
16055 SW 108th Ave Tigard, OR	1.0–2.0	1.0–2.0	852	$1,940	$2.28	7d	9	1.17mi
11545 SW Beef Bend Rd Portland, OR	2.0	2.0	935	$1,514	$1.62	2d	1	1.30mi
11390 SW Naeve St Tigard, OR	1.0–2.0	1.0–2.0	893	$2,119	$2.37	3d	5	1.31mi
15199 SW Royalty Pkwy Portland, OR	1.0–3.0	1.0–2.0	884	$1,805	$2.04	1d	12	1.36mi
11430 SW Bull Mountain Rd Tigard, OR	2.0	2.0	986	$1,970	$2.00	3d	6	1.42mi

Listing history 18 events

1. 2026-06-18
   days on market $118,900 Active 278 DOM
2. 2026-06-17
   days on market $118,900 Active 277 DOM
3. 2026-06-16
   days on market $118,900 Active 276 DOM
4. 2026-06-15
   days on market $118,900 Active 275 DOM
5. 2026-06-13
   days on market $118,900 Active 273 DOM
6. 2026-06-09
   days on market $118,900 Active 269 DOM
7. 2026-06-08
   pricedays on market $118,900 Active 268 DOM
8. 2026-06-07
   days on market $119,900 Active 267 DOM
9. 2026-06-05
   days on market $119,900 Active 264 DOM
10. 2026-06-03
    days on market $119,900 Active 263 DOM
11. 2026-06-02
    days on market $119,900 Active 262 DOM
12. 2026-06-01
    days on market $119,900 Active 261 DOM
13. 2026-05-31
    days on market $119,900 Active 260 DOM
14. 2026-04-09
    price $119,900 1361-char remark

    Show marketing remark (1361 chars)

    TURN KEY! This 2019 home offers the peace of mind that comes with recent construction, allowing you to move in and start enjoying the lifestyle immediately. Located within the ElDorado Villas 55+ community, this property combines the ease of a newer build with a location that puts everything you need within reach.The 960 square foot interior is defined by an open, light filled atmosphere that feels both spacious and inviting. With two bedrooms and a layout designed for flow, the home is as functional as it is bright. A standout feature is the private, fenced backyard, which is a rare find that provides a dedicated space for pets or a personal garden. You can enjoy your morning coffee on the covered patio or take advantage of the convenience provided by the attached covered carport.Living in ElDorado Villas means more than just a home, it is about the amenities. The community features scenic walking paths, a refreshing pool, a fitness center, and social spaces for billiards and activities. The monthly space rent is $1,257 (water is billed separately and sewer is bi-monthly), which includes access to all community facilities. You are also perfectly positioned near Trader Joe's, major shopping hubs, and easy freeway access for effortless commuting.This is a rare opportunity to secure a nearly new residence in an active, welcoming environment.

15. 2026-02-19
    price $123,900 1361-char remark

    Show marketing remark (1361 chars)

    TURN KEY! This 2019 home offers the peace of mind that comes with recent construction, allowing you to move in and start enjoying the lifestyle immediately. Located within the ElDorado Villas 55+ community, this property combines the ease of a newer build with a location that puts everything you need within reach.The 960 square foot interior is defined by an open, light filled atmosphere that feels both spacious and inviting. With two bedrooms and a layout designed for flow, the home is as functional as it is bright. A standout feature is the private, fenced backyard, which is a rare find that provides a dedicated space for pets or a personal garden. You can enjoy your morning coffee on the covered patio or take advantage of the convenience provided by the attached covered carport.Living in ElDorado Villas means more than just a home, it is about the amenities. The community features scenic walking paths, a refreshing pool, a fitness center, and social spaces for billiards and activities. The monthly space rent is $1,257 (water is billed separately and sewer is bi-monthly), which includes access to all community facilities. You are also perfectly positioned near Trader Joe's, major shopping hubs, and easy freeway access for effortless commuting.This is a rare opportunity to secure a nearly new residence in an active, welcoming environment.

16. 2026-01-03
    price $124,900 1361-char remark

    Show marketing remark (1361 chars)

    TURN KEY! This 2019 home offers the peace of mind that comes with recent construction, allowing you to move in and start enjoying the lifestyle immediately. Located within the ElDorado Villas 55+ community, this property combines the ease of a newer build with a location that puts everything you need within reach.The 960 square foot interior is defined by an open, light filled atmosphere that feels both spacious and inviting. With two bedrooms and a layout designed for flow, the home is as functional as it is bright. A standout feature is the private, fenced backyard, which is a rare find that provides a dedicated space for pets or a personal garden. You can enjoy your morning coffee on the covered patio or take advantage of the convenience provided by the attached covered carport.Living in ElDorado Villas means more than just a home, it is about the amenities. The community features scenic walking paths, a refreshing pool, a fitness center, and social spaces for billiards and activities. The monthly space rent is $1,257 (water is billed separately and sewer is bi-monthly), which includes access to all community facilities. You are also perfectly positioned near Trader Joe's, major shopping hubs, and easy freeway access for effortless commuting.This is a rare opportunity to secure a nearly new residence in an active, welcoming environment.

17. 2025-10-12
    price $129,900 1361-char remark

    Show marketing remark (1361 chars)

    TURN KEY! This 2019 home offers the peace of mind that comes with recent construction, allowing you to move in and start enjoying the lifestyle immediately. Located within the ElDorado Villas 55+ community, this property combines the ease of a newer build with a location that puts everything you need within reach.The 960 square foot interior is defined by an open, light filled atmosphere that feels both spacious and inviting. With two bedrooms and a layout designed for flow, the home is as functional as it is bright. A standout feature is the private, fenced backyard, which is a rare find that provides a dedicated space for pets or a personal garden. You can enjoy your morning coffee on the covered patio or take advantage of the convenience provided by the attached covered carport.Living in ElDorado Villas means more than just a home, it is about the amenities. The community features scenic walking paths, a refreshing pool, a fitness center, and social spaces for billiards and activities. The monthly space rent is $1,257 (water is billed separately and sewer is bi-monthly), which includes access to all community facilities. You are also perfectly positioned near Trader Joe's, major shopping hubs, and easy freeway access for effortless commuting.This is a rare opportunity to secure a nearly new residence in an active, welcoming environment.

18. 2025-09-13
    listed $133,000 Active 1361-char remark

    Show marketing remark (1361 chars)

    TURN KEY! This 2019 home offers the peace of mind that comes with recent construction, allowing you to move in and start enjoying the lifestyle immediately. Located within the ElDorado Villas 55+ community, this property combines the ease of a newer build with a location that puts everything you need within reach.The 960 square foot interior is defined by an open, light filled atmosphere that feels both spacious and inviting. With two bedrooms and a layout designed for flow, the home is as functional as it is bright. A standout feature is the private, fenced backyard, which is a rare find that provides a dedicated space for pets or a personal garden. You can enjoy your morning coffee on the covered patio or take advantage of the convenience provided by the attached covered carport.Living in ElDorado Villas means more than just a home, it is about the amenities. The community features scenic walking paths, a refreshing pool, a fitness center, and social spaces for billiards and activities. The monthly space rent is $1,257 (water is billed separately and sewer is bi-monthly), which includes access to all community facilities. You are also perfectly positioned near Trader Joe's, major shopping hubs, and easy freeway access for effortless commuting.This is a rare opportunity to secure a nearly new residence in an active, welcoming environment.

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 14 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: $21,455
• − Mortgage interest: −$6,660
• − Property taxes: −$1,784
• − Insurance: −$594
• − Repairs & maintenance: −$1,716
• − Management: −$1,716
• − Depreciation: −$3,459
• Taxable income: $5,525
• Est. tax owed @ 24.0%: −$1,326
• After-tax cash flow: $5,763/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: 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 — King City

• Score: 85/100
• State rank: #24
• US rank: #539

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Washington County · 583,254 people
• 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

-9.8% since first listed

5 events — show timeline

• 2026-04-09 Price Changed $119,900 RMLS
• 2026-02-19 Price Changed $123,900 RMLS
• 2026-01-03 Price Changed $124,900 RMLS
• 2025-10-12 Price Changed $129,900 RMLS
• 2025-09-13 Listed $133,000 RMLS

Property tax history

-29.0%/yr

Latest (2015): $15 · +150.0% YoY. Source: county tax records.