700 NE 183rd Ave #7 · Gresham, OR 97230

$117,800

3 bd · 2.0 ba · 1,456 sqft · Manufactured public records · 97 Days on market

Built 1989 Est $111k · 6% over

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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 +4.6/15.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Back on the market, due to no fault of sellers! Beautifully remodeled 3-bedroom, 2-bath home located in the all-ages park community. This move-in ready residence features a modern kitchen, updated bathrooms, and spacious living areas. Enjoy the comfort of a fully updated interior, designed for contemporary living. Perfect for anyone seeking a stylish and affordable home in a convenient location.

Key facts

• Built 1989
• Listed 97 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $118k.

Deal economics

• At list price, monthly cash flow is $747 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $118k).
• Recommended offer: $107k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.9% vs local median 2.8% in Gresham — 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 81/100 on livability (#51 in OR, #1,537 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: cost of living D, crime D-.
• Reynolds SD 7 (suburban): math 21% / reading 36% proficiency, ranked #162 of 183 in OR (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Hartley Elementary School (325 students, 98% FRL); Reynolds High School (2,474 students, 67% FRL) — zoned schools average 82% FRL vs 66% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 213 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,041 units permitted in Multnomah County in 2024 (905 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $814 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 1.0% rent growth), your $33k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($107k) 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 $107,198 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% 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. 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: 1.55% ✓
• Cap rate: 13.90%
• Cash-on-cash: 27.19%
• DSCR: 2.21
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $110,656
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18345 NE Glisan St #2	0.05mi	3/2.0	1,296 (-11%)	6mo	$99,000	$76	74
18345 NE Glisan St #6	0.05mi	3/2.0	1,296 (-11%)	19mo	$80,000	$62	64
18345 NE Glisan St #3	0.05mi	3/2.0	1,296 (-11%)	24mo	$99,900	$77	60

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 · 0.99% rent growth · sell at horizon

5-year hold

• IRR: 19.0%
• Equity multiple: 1.75×
• Total profit: $24,830
• Equity at exit: $17,564

10-year hold

• IRR: 26.0%
• Equity multiple: 3.07×
• Total profit: $68,424
• Equity at exit: $10,185

Cash invested: $32,984 (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 97230

• Rents YoY: 1.0%
• Active inventory: 213
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,831 high
• Mortgage (P&I): −$618
• Tax from tax record: −$32 /mo · $386/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $747

Break-even live

Break-even rent $885

Max offer price $117,800

Occupancy floor 54%

Sensitivity live

Price	-10% $814	-5% $781	+0% $747	+5% $714	+10% $681
Rent	-10% $603	-5% $675	+0% $747	+5% $820	+10% $892
Rate	-1.0pp $807	-0.5pp $777	base $747	+0.5pp $717	+1.0pp $686

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: $29,450
• Closing costs: $3,534
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1136 NE 181st Ave Portland, OR	1.0–2.0	1.0	762	$1,475	$1.93	8d	2	0.26mi
18641 NE Everett Ct Portland, OR	4.0	1.0	1450	$2,500	$1.72	17d	1	0.27mi
1210 NE 181st Ave Portland, OR	2.0	1.5	945	$1,250	$1.32	44d	1	0.27mi
665 NE 178th Ave Portland, OR	1.0–3.0	1.0–2.0	855	$1,825	$2.13	3d	16	0.30mi
17838 NE Multnomah Dr Unit 16 Portland, OR	2.0	1.0	950	$1,200	$1.26	5d	1	0.38mi
434 NE 176th Ave Portland, OR	2.0	2.0	1195	$2,195	$1.84	44d	1	0.43mi
430 NE 176th Ave Portland, OR	2.0	2.0	1195	$2,295	$1.92	44d	1	0.43mi
18618 E Burnside St Portland, OR	2.0	1.0–2.0	803	$2,375	$2.96	3d	25	0.56mi
17782 E Burnside St Portland, OR	2.0–3.0	1.0	960	$1,795	$1.87	5d	4	0.57mi
17420 NE Halsey St Portland, OR	2.0	1.5	1250	$1,699	$1.36	8d	1	0.61mi
203 SE 176th Pl Portland, OR	2.0	1.0	1088	$1,495	$1.37	22d	1	0.61mi
17366 NE Halsey St Apt 112 Portland, OR	2.0	2.0	956	$1,795	$1.88	44d	1	0.65mi
17366 NE Halsey St Unit 123 Portland, OR	2.0	2.0	956	$1,650	$1.73	44d	1	0.65mi
17316 E Burnside St Apt 19 Portland, OR	2.0	2.0	945	$1,455	$1.54	44d	1	0.69mi
459 SE 192nd Ave Portland, OR	2.0–3.0	1.0–2.0	1065	$1,975	$1.85	4d	7	0.71mi
19511 NE Halsey St Portland, OR	2.0	1.0	917	$1,395	$1.52	4d	1	0.72mi
16863 NE Glisan St Portland, OR	2.0	1.0	882	$1,400	$1.59	8d	2	0.73mi
19100 E Burnside St Portland, OR	1.0–2.0	1.0–2.0	863	$1,538	$1.78	44d	1	0.73mi
783 SE 185th Ave Portland, OR	1.0–3.0	1.0–2.0	861	$2,272	$2.64	3d	10	0.80mi
17062 NE Halsey St Portland, OR	2.0	1.0	880	$1,250	$1.42	5d	5	0.80mi
19849 NE Halsey St Unit 110 Portland, OR	3.0	2.0	895	$1,870	$2.09	18d	1	0.85mi
16913 NE Halsey St Portland, OR	2.0	2.5	1528	$1,895	$1.24	24d	1	0.86mi
18837 SE Yamhill St Portland, OR	2.0	2.0	1051	$1,422	$1.35	4d	5	0.86mi
16775 NE Halsey St Unit 16775 Portland, OR	2.0	1.5	1080	$2,100	$1.94	11d	1	0.89mi
19927 NE Halsey St Unit 103 Portland, OR	3.0	2.5	1225	$1,895	$1.55	44d	1	0.89mi
400 SE 169th Ave Unit 402 Portland, OR	2.0	1.0	1000	$1,695	$1.70	44d	1	0.91mi
16733 NE Halsey St Unit 16733 Portland, OR	3.0	2.5	1180	$2,300	$1.95	18d	1	0.92mi
16705 NE Halsey St Unit 103 Portland, OR	2.0	1.0	960	$1,395	$1.45	44d	1	0.93mi
16548 NE Halsey St Portland, OR	2.0	1.5	980	$1,625	$1.66	15d	3	0.96mi
473 SE 169th Ave Portland, OR	2.0–3.0	2.0	1006	$1,995	$1.98	15d	5	0.97mi
16964 SE Stark St Portland, OR	2.0	1.5	945	$1,250	$1.32	44d	1	0.97mi
20121 SE Stark St Portland, OR	1.0–3.0	1.0–2.0	873	$2,150	$2.46	3d	5	0.98mi
16503 E Burnside St Portland, OR	1.0–3.0	1.0	797	$1,440	$1.81	44d	1	0.98mi
16836 SE Stark St Unit 104 Portland, OR	2.0	1.0	900	$1,300	$1.44	24d	1	0.99mi
16836 SE Stark St Unit 102 Portland, OR	2.0	1.5	900	$1,375	$1.53	15d	1	0.99mi
16836 SE Stark St Apt 107 Portland, OR	2.0	1.0	900	$1,350	$1.50	12d	1	0.99mi
16533 NE Halsey St Unit B-212 Portland, OR	2.0	1.0	961	$1,895	$1.97	44d	1	1.00mi
16533 NE Halsey St Unit A-102 Portland, OR	2.0	1.0	928	$1,850	$1.99	44d	1	1.00mi
16533 NE Halsey St Unit B-414 (ADA) Portland, OR	3.0	2.0	1176	$2,300	$1.96	24d	1	1.00mi
16533 NE Halsey St Unit A-408 Portland, OR	3.0	2.0	1176	$2,250	$1.91	24d	1	1.01mi

Listing history 4 events

1. 2026-02-24
   status Pending
2. 2025-11-28
   status Active
3. 2025-11-10
   status Pending
4. 2025-10-31
   listed $117,800 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: $386 · $32/mo
• Projected year-2 tax: $1,143 · $95/mo
• Expected delta: +$757/yr (+$63/mo · 196.0%)

ⓘ 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 ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 23 unhealthy d/yr today · 27 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,968
• − Mortgage interest: −$6,599
• − Property taxes: −$386
• − Insurance: −$589
• − Repairs & maintenance: −$1,757
• − Management: −$1,757
• − Depreciation: −$3,427
• Taxable income: $7,453
• Est. tax owed @ 24.0%: −$1,789
• After-tax cash flow: $7,178/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: Reynolds SD 7
• NCES district ID: 4110520
• Math proficiency: 21% ▬ 0.00%
• Reading proficiency: 36% ▬ 0.00%
• Median HH income: $45,502
• Composite: 27.4/100
• National rank: #12399
• State rank: #162 of 183 in OR

Livability — Gresham

• Score: 81/100
• State rank: #51
• US rank: #1537

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gresham, OR
• County: Multnomah County · 786,692 people
• City population: 86,119
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 43,553
• Household income: $75,572
• Rent vs Own: 39.0% rent · 61.0% own
• Severe rent burden: 2200.0

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 0.69)
• Race & ethnicity: White 49% Hispanic / Latino 20% Two or more races 15% Asian 11% Black 10% Pacific Islander 2%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Portuguese 3% Slovak 2% Italian 2%
• Foreign-born: 21% · Canada, Vietnam, China
• Languages at home: 70% English-only · Spanish 15% Vietnamese 3% Other Asian/Pacific 3%

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: ▼ -409.12%
• Current HPI: 287.2227
• Rent YoY: ▲ 0.99%
• 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

• 2026-02-24 Pending — RMLS
• 2025-11-28 Relisted — RMLS
• 2025-11-10 Pending — RMLS
• 2025-10-31 Listed $117,800 RMLS

Property tax history

-0.9%/yr

Latest (2016): $386 · +16.3% YoY. Source: county tax records.