10550 SE 70th Ave #18 · Milwaukie, OR 97222

$93,500

3 bd · 2.0 ba · 1,080 sqft · Condo · 70 Days on market

Built 1986

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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
• Livability +4.5/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this beautifully updated and truly charming property filled with warmth and style. From the moment you step inside, you’ll appreciate the inviting living area featuring a stunning shiplap décor wall and a cozy electric fireplace that adds both ambiance and comforting warmth—perfect for relaxing evenings at home. The light and bright kitchen is a standout, complete with a skylight that fills the space with natural light, newer Edison lighting, and appliances that are just three years old. Whether you're cooking, entertaining, or enjoying your morning coffee, this kitchen offers both function and charm. The spacious primary suite provides a private retreat w

Key facts

• Shiplap décor wall
• Walk-in closet
• Skylight in kitchen

Tags

• SHIPLAP DÉCOR WALL
• COZY ELECTRIC FIREPLACE
• SKYLIGHT IN KITCHEN
• NEWER EDISON LIGHTING
• THREE YEAR OLD APPLIANCES
• WALK-IN CLOSET

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $94k.

Deal economics

• At list price, monthly cash flow is $916 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $94k).
• Recommended offer: $88k (6.0% below list) — sets the bar for market timing.
• Cap rate 18.0% vs local median 2.9% in Milwaukie — 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 90/100 on livability (#4 in OR, #108 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: cost of living D.
• 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.
• Zoned schools: Lewelling Elementary School (math 30% / reading 30%, grade F, #256 of 412 statewide, top 63%, 298 students, 74% FRL); Rowe Middle School (math 12% / reading 27%, grade F, #124 of 128 statewide, top 98%, 722 students, 70% FRL); Milwaukie High School (904 students, 93% FRL) — zoned schools average 79% FRL vs 34% district-wide (44 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.8%/yr); 139 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $646 of loan paydown is wiped out by about $3k 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 + 0.0% rent growth), your $26k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $87,890 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 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: 2.03% ✓
• Cap rate: 18.05%
• Cash-on-cash: 41.99%
• DSCR: 2.87
• GRM: 4.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 35.3%
• Equity multiple: 2.44×
• Total profit: $37,621
• Equity at exit: $13,941

10-year hold

• IRR: 40.6%
• Equity multiple: 4.30×
• Total profit: $86,354
• Equity at exit: $8,084

Cash invested: $26,180 (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 97222

• Rents YoY: -0.8%
• Active inventory: 139
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,898 high
• Mortgage (P&I): −$490
• Tax from tax record: −$54 /mo · $646/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $916

Break-even live

Break-even rent $738

Max offer price $93,500

Occupancy floor 47%

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: $23,375
• Closing costs: $2,805
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10411 SE Cook Ct Portland, OR	2.0	2.0	893	$1,765	$1.98	43d	1	0.15mi
10411 SE Cook Ct Portland, OR	2.0	2.0	893	$1,885	$2.11	15d	1	0.15mi
7911 SE King Rd Unit 38 Milwaukie, OR	2.0	1.5	920	$1,495	$1.62	24d	1	0.40mi
7400 SE Otty St Portland, OR	2.0	1.0	1406	$2,000	$1.42	20d	1	0.41mi
7911 SE King Rd Portland, OR	2.0	1.5	920	$1,700	$1.85	43d	1	0.42mi
7911 SE King Rd Portland, OR	2.0	1.5	920	$1,700	$1.85	22d	1	0.42mi
7915 SE King Rd Portland, OR	2.0	1.0	925	$1,800	$1.95	4d	2	0.42mi
7911 SE King Rd Unit 42 Milwaukie, OR	2.0	1.5	920	$1,595	$1.73	16d	1	0.42mi
9985 SE 65th Ave Portland, OR	2.0	1.0	925	$1,822	$1.97	10d	2	0.42mi
7911 SE King Rd Unit 50 Milwaukie, OR	2.0	1.5	920	$1,595	$1.73	20d	1	0.42mi
8057 SE Monroe St Portland, OR	2.0	2.0	900	$1,799	$2.00	2d	1	0.43mi
7946 SE Monroe St Unit 7958 Milwaukie, OR	2.0	1.0	775	$1,499	$1.93	43d	1	0.44mi
7707 SE Otty St Portland, OR	3.0	1.0	828	$2,245	$2.71	17d	1	0.50mi
11444 SE Fuller Rd Milwaukie, OR	2.0	1.0	836	$1,550	$1.85	24d	2	0.57mi
11556 SE Fuller Rd Portland, OR	2.0	1.0	870	$1,550	$1.78	12d	5	0.65mi
5733 SE King Rd Unit 5753 Milwaukie, OR	2.0	1.0	1000	$1,699	$1.70	43d	1	0.69mi
11259 SE Causey Cir Happy Valley, OR	2.0	2.5	1152	$2,070	$1.80	22d	1	0.73mi
8366 SE Causey Ave Happy Valley, OR	2.0	1.0	828	$1,800	$2.17	15d	10	0.77mi
8366 SE Causey Ave Happy Valley, OR	2.0	1.0	828	$1,800	$2.17	2d	9	0.77mi
8495 SE Otty Rd Unit duplex Happy Valley, OR	3.0	1.0	924	$2,100	$2.27	43d	1	0.79mi
6515 SE Aspen St Portland, OR	3.0	1.0	1100	$2,325	$2.11	7d	1	0.83mi
8640 SE Causey Ave Happy Valley, OR	1.0–3.0	1.0–2.0	925	$1,899	$2.05	2d	12	0.85mi
8950 SE 79th Pl Portland, OR	2.0	1.0	1000	$1,472	$1.47	24d	4	0.92mi
8950 SE 79th Pl Portland, OR	2.0	1.0	1000	$1,495	$1.50	22d	1	0.92mi
8942 SE 79th Pl Unit 8942 Portland, OR	2.0	1.0	1000	$1,395	$1.40	2d	1	0.93mi
9009 SE Causey Ave Happy Valley, OR	1.0–2.0	1.0–2.0	863	$1,535	$1.78	43d	1	0.95mi
12435 SE Linwood Ave Milwaukie, OR	2.0	1.0	578	$1,749	$3.03	3d	8	0.96mi
8800 SE Causey Loop Happy Valley, OR	2.0	1.0–2.0	680	$1,866	$2.74	2d	22	0.99mi
12444 SE 60th Ct Unit A Milwaukie, OR	2.0	1.5	900	$1,800	$2.00	43d	1	1.00mi
11408 SE 90th Ave Unit 1033 Happy Valley, OR	2.0	1.0	880	$1,525	$1.73	24d	1	1.02mi
11408 SE 90th Ave Unit 1214 Happy Valley, OR	2.0	1.0	880	$1,625	$1.85	20d	1	1.02mi
11408 SE 90th Ave Happy Valley, OR	1.0–2.0	1.0	850	$1,625	$1.91	7d	5	1.02mi
11408 SE 90th Ave Happy Valley, OR	2.0	1.0	880	$1,625	$1.85	24d	1	1.02mi
12582 SE Linwood Ave Portland, OR	1.0–2.0	1.0	707	$1,325	$1.87	12d	3	1.02mi
5041 SE King Rd Unit B Milwaukie, OR	3.0	2.5	1220	$2,750	$2.25	24d	1	1.04mi
10851 SE Garrett Dr Portland, OR	3.0	1.0	996	$2,295	$2.30	15d	1	1.21mi
7240 SE Umatilla St Portland, OR	3.0	2.5	1310	$2,850	$2.18	4d	1	1.21mi
6170 SE Lake Rd Portland, OR	2.0	2.5	1381	$2,250	$1.63	7d	1	1.22mi
4815 SE Railroad Ave Unit 4935 Milwaukie, OR	2.0	1.5	1100	$1,849	$1.68	43d	1	1.24mi
4815 SE Railroad Ave Unit 11822 Milwaukie, OR	2.0	1.5	1100	$1,849	$1.68	15d	1	1.24mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: electric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-18
   days on market $93,500 Active 70 DOM
2. 2026-06-17
   days on market $93,500 Active 69 DOM
3. 2026-06-16
   days on market $93,500 Active 68 DOM
4. 2026-06-15
   days on market $93,500 Active 67 DOM
5. 2026-06-13
   days on market $93,500 Active 65 DOM
6. 2026-06-09
   days on market $93,500 Active 61 DOM
7. 2026-06-08
   days on market $93,500 Active 60 DOM
8. 2026-06-07
   statusdays on market $93,500 Active 59 DOM
9. 2026-04-22
   status Pending
10. 2026-03-05
    status Active
11. 2026-02-22
    status Pending
12. 2026-02-11
    listed $93,500 Active

ⓘ 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: $646 · $54/mo
• Projected year-2 tax: $907 · $76/mo
• Expected delta: +$261/yr (+$22/mo · 40.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 18 unhealthy d/yr today · 20 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,773
• − Mortgage interest: −$5,237
• − Property taxes: −$646
• − Insurance: −$468
• − Repairs & maintenance: −$1,822
• − Management: −$1,822
• − Depreciation: −$2,720
• Taxable income: $10,058
• Est. tax owed @ 24.0%: −$2,414
• After-tax cash flow: $8,579/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 — Milwaukie

• Score: 90/100
• State rank: #4
• US rank: #108

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Clackamas County · 361,406 people
• City population: 36,398
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 36,398
• Household income: $83,119
• Rent vs Own: 43.7% rent · 56.3% own
• Severe rent burden: 1823.0

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 (75%)
• Race & ethnicity: White 75% Hispanic / Latino 13% Two or more races 12% Asian 3% Black 1%
• Hispanic origin (detail): Mexican 8% Puerto Rican 1%
• Common ancestry: Slovak 3% Italian 3% Portuguese 3%
• Foreign-born: 7% · Canada
• Languages at home: 89% English-only · Spanish 6% Russian/Polish/Slavic 2% Arabic 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: ▼ -447.07%
• Current HPI: 306.8458
• Rent YoY: ▼ -0.82%
• 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

4 events — show timeline

• 2026-04-22 Pending — RMLS
• 2026-03-05 Relisted — RMLS
• 2026-02-22 Pending — RMLS
• 2026-02-11 Listed $93,500 RMLS

Property tax history

+4.9%/yr

Latest (2025): $646 · +6.1% YoY. Source: county tax records.