2681 SE River Rd #51 · Hillsboro, OR 97123

$64,900

2 bd · 1.0 ba · 800 sqft · Manufactured public records · 254 Days on market

Built 1970 $81/sqft · 88% above area

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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 +4.4/5.0
• Schools +3.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this 2-bedroom, 1 bath double-wide manufactured home offering approximately 800 sq. ft. of comfortable living space. Step inside to find an open and spacious living room that flows seamlessly into the dining area, complete with a built in shelf and wall to-wall carpeting that adds warmth and comfort. Kitchen features recently updated countertops, a fresh white tile backsplash, and newly painted cabinets, creating a bright and inviting space to cook and gather. The bathroom was updated in 2019 with new cabinetry, tile flooring, paint, and a modern shower insert. Additional updates include a roof replacement in 2021, new carpet in 2018, a newly installed durable deck, and a brand-new awning providing extra shade and outdoor comfort. A newer carport with deep space offers convenient covered parking. The washer and dryer (purchased last year) are included for added value. This home also features a heat pump for efficient heating and cooling and sits on a spacious, low-maintenance lot. With its combination of comfort, thoughtful updates, and original charm, this home is move-in ready and ideal for those seeking an easy, relaxed lifestyle in a welcoming 55+ community. Schedule your tour TODAY!

Key facts

• Built in shelf
• Updated countertops
• Built 1970

Tags

• DOUBLE-WIDE MANUFACTURED HOME
• OPEN AND SPACIOUS LIVING ROOM
• BUILT IN SHELF
• UPDATED COUNTERTOPS
• WHITE TILE BACKSPLASH
• NEWLY PAINTED CABINETS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $65k.

Deal economics

• At list price, monthly cash flow is $944 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• Cap rate 23.7% vs local median 3.0% in Hillsboro — 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 87/100 on livability (#13 in OR, #282 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: crime D+, cost of living F.
• Hillsboro SD 1J (urban): math 35% / reading 46% proficiency, ranked #13 of 58 in OR (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-1.4%/yr); 426 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 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 $449 of loan paydown is wiped out by about $2k 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 $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 254 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $21k; list at $65k implies a 209% gain — meaningful room to come down on a strong offer.

Recommended offer $57,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 254 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — 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. 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?
6. 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.
7. 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.
8. 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: 2.72% ✓
• Cap rate: 23.75%
• Cash-on-cash: 62.33%
• DSCR: 3.77
• GRM: 3.1

CMA / ARV

• ARV (median comp): $34,519
• List price: $64,900
• Delta: 88.01%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2681 SE River Rd #27	0.06mi	2/1.0	782 (-2%)	12mo	$35,000	$45	84
2681 SE River Rd #48	0.03mi	2/1.0	784 (-2%)	23mo	$68,000	$87	76
1901 SE Minter Bridge Rd #10	0.55mi	2/2.0	840 (+5%)	5mo	$53,500	$64	58
1901 SE Minter Bridge Rd #11	0.55mi	2/1.0	720 (-10%)	9mo	$20,000	$28	50
1901 SE Minter Bridge Rd #71	0.63mi	2/1.0	792 (-1%)	23mo	$15,000	$19	50
1901 SE Minter Bridge Rd #18	0.60mi	2/1.0	896 (+12%)	9mo	$10,500	$12	45

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: 57.8%
• Equity multiple: 3.45×
• Total profit: $44,464
• Equity at exit: $9,677

10-year hold

• IRR: 61.6%
• Equity multiple: 6.30×
• Total profit: $96,278
• Equity at exit: $5,611

Cash invested: $18,172 (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 97123

• Rents YoY: -1.4%
• Active inventory: 426
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,763 high
• Mortgage (P&I): −$340
• Tax est. 1.5%: −$81 /mo · $974/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $944

Break-even live

Break-even rent $568

Max offer price $64,900

Occupancy floor 41%

Sensitivity live

Price	-10% $989	-5% $966	+0% $944	+5% $922	+10% $899
Rent	-10% $805	-5% $874	+0% $944	+5% $1,014	+10% $1,083
Rate	-1.0pp $977	-0.5pp $960	base $944	+0.5pp $927	+1.0pp $910

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1821 SE Minter Bridge Rd Hillsboro, OR	1.0	1.0	626	$1,295	$2.07	44d	1	0.51mi
2933 SE 38th Ct Hillsboro, OR	3.0	1.5	1088	$1,950	$1.79	44d	1	0.60mi
2725 SE 44th Ct Hillsboro, OR	3.0	2.0	1050	$2,245	$2.14	44d	1	0.80mi
1535 SE Maple St Hillsboro, OR	2.0	1.0	766	$1,485	$1.94	8d	1	1.14mi
2400 SE Brookwood Ave Hillsboro, OR	2.0	1.0	864	$1,449	$1.68	18d	2	1.18mi
1374 SE Cedar St Unit 1 Hillsboro, OR	2.0	1.0	672	$1,395	$2.08	4d	1	1.19mi
800 SE 10th Ave Hillsboro, OR	1.0–3.0	1.0	750	$1,595	$2.13	4d	4	1.24mi
760 SE 10th Ave Unit 10 Hillsboro, OR	2.0	1.0	717	$1,525	$2.13	24d	1	1.27mi
760 SE 10th Ave Unit 31 Hillsboro, OR	1.0	1.0	594	$1,395	$2.35	8d	1	1.28mi
4264 SE Oak St Hillsboro, OR	3.0	1.5	1025	$2,300	$2.24	5d	1	1.30mi
117 NE 25th Ave Hillsboro, OR	1.0	1.0	751	$1,459	$1.94	24d	1	1.33mi
117 NE 25th Ave Hillsboro, OR	1.0–2.0	1.0–2.0	893	$1,659	$1.86	12d	7	1.33mi
470 SE 12th Ave Hillsboro, OR	1.0	1.0	725	$1,400	$1.93	24d	1	1.33mi
148 NE 24th Ave Hillsboro, OR	3.0	2.0	1100	$1,950	$1.77	22d	2	1.37mi
1049 SE Walnut St Unit 7 Hillsboro, OR	2.0	1.0	800	$1,495	$1.87	44d	1	1.42mi
1120 SE Baseline St Apt 4 Hillsboro, OR	2.0	1.5	907	$1,950	$2.15	18d	1	1.48mi
2520 NE Parkwood St Hillsboro, OR	2.0–3.0	1.0	800	$1,595	$1.99	24d	4	1.48mi

Listing history 22 events

1. 2026-06-21
   days on market $64,900 Active 254 DOM
2. 2026-06-18
   days on market $64,900 Active 251 DOM
3. 2026-06-17
   days on market $64,900 Active 250 DOM
4. 2026-06-16
   days on market $64,900 Active 249 DOM
5. 2026-06-15
   days on market $64,900 Active 248 DOM
6. 2026-06-13
   days on market $64,900 Active 246 DOM
7. 2026-06-09
   days on market $64,900 Active 242 DOM
8. 2026-06-08
   days on market $64,900 Active 241 DOM
9. 2026-06-07
   days on market $64,900 Active 240 DOM
10. 2026-06-05
    days on market $64,900 Active 237 DOM
11. 2026-06-03
    days on market $64,900 Active 236 DOM
12. 2026-06-02
    days on market $64,900 Active 235 DOM
13. 2026-06-02
    price $64,900 Active 234 DOM
14. 2026-06-01
    days on market $69,900 Active 234 DOM
15. 2026-05-31
    days on market $69,900 Active 233 DOM
16. 2026-04-13
    price $69,900 1217-char remark

    Show marketing remark (1217 chars)

    Welcome to this 2-bedroom, 1 bath double-wide manufactured home offering approximately 800 sq. ft. of comfortable living space. Step inside to find an open and spacious living room that flows seamlessly into the dining area, complete with a built in shelf and wall to-wall carpeting that adds warmth and comfort. Kitchen features recently updated countertops, a fresh white tile backsplash, and newly painted cabinets, creating a bright and inviting space to cook and gather. The bathroom was updated in 2019 with new cabinetry, tile flooring, paint, and a modern shower insert. Additional updates include a roof replacement in 2021, new carpet in 2018, a newly installed durable deck, and a brand-new awning providing extra shade and outdoor comfort. A newer carport with deep space offers convenient covered parking. The washer and dryer (purchased last year) are included for added value. This home also features a heat pump for efficient heating and cooling and sits on a spacious, low-maintenance lot. With its combination of comfort, thoughtful updates, and original charm, this home is move-in ready and ideal for those seeking an easy, relaxed lifestyle in a welcoming 55+ community. Schedule your tour TODAY!

17. 2026-04-06
    price $64,900 1217-char remark

    Show marketing remark (1217 chars)

    Welcome to this 2-bedroom, 1 bath double-wide manufactured home offering approximately 800 sq. ft. of comfortable living space. Step inside to find an open and spacious living room that flows seamlessly into the dining area, complete with a built in shelf and wall to-wall carpeting that adds warmth and comfort. Kitchen features recently updated countertops, a fresh white tile backsplash, and newly painted cabinets, creating a bright and inviting space to cook and gather. The bathroom was updated in 2019 with new cabinetry, tile flooring, paint, and a modern shower insert. Additional updates include a roof replacement in 2021, new carpet in 2018, a newly installed durable deck, and a brand-new awning providing extra shade and outdoor comfort. A newer carport with deep space offers convenient covered parking. The washer and dryer (purchased last year) are included for added value. This home also features a heat pump for efficient heating and cooling and sits on a spacious, low-maintenance lot. With its combination of comfort, thoughtful updates, and original charm, this home is move-in ready and ideal for those seeking an easy, relaxed lifestyle in a welcoming 55+ community. Schedule your tour TODAY!

18. 2026-03-06
    price $74,900 1217-char remark

    Show marketing remark (1217 chars)

    Welcome to this 2-bedroom, 1 bath double-wide manufactured home offering approximately 800 sq. ft. of comfortable living space. Step inside to find an open and spacious living room that flows seamlessly into the dining area, complete with a built in shelf and wall to-wall carpeting that adds warmth and comfort. Kitchen features recently updated countertops, a fresh white tile backsplash, and newly painted cabinets, creating a bright and inviting space to cook and gather. The bathroom was updated in 2019 with new cabinetry, tile flooring, paint, and a modern shower insert. Additional updates include a roof replacement in 2021, new carpet in 2018, a newly installed durable deck, and a brand-new awning providing extra shade and outdoor comfort. A newer carport with deep space offers convenient covered parking. The washer and dryer (purchased last year) are included for added value. This home also features a heat pump for efficient heating and cooling and sits on a spacious, low-maintenance lot. With its combination of comfort, thoughtful updates, and original charm, this home is move-in ready and ideal for those seeking an easy, relaxed lifestyle in a welcoming 55+ community. Schedule your tour TODAY!

19. 2025-12-29
    price $79,999 1217-char remark

    Show marketing remark (1217 chars)

    Welcome to this 2-bedroom, 1 bath double-wide manufactured home offering approximately 800 sq. ft. of comfortable living space. Step inside to find an open and spacious living room that flows seamlessly into the dining area, complete with a built in shelf and wall to-wall carpeting that adds warmth and comfort. Kitchen features recently updated countertops, a fresh white tile backsplash, and newly painted cabinets, creating a bright and inviting space to cook and gather. The bathroom was updated in 2019 with new cabinetry, tile flooring, paint, and a modern shower insert. Additional updates include a roof replacement in 2021, new carpet in 2018, a newly installed durable deck, and a brand-new awning providing extra shade and outdoor comfort. A newer carport with deep space offers convenient covered parking. The washer and dryer (purchased last year) are included for added value. This home also features a heat pump for efficient heating and cooling and sits on a spacious, low-maintenance lot. With its combination of comfort, thoughtful updates, and original charm, this home is move-in ready and ideal for those seeking an easy, relaxed lifestyle in a welcoming 55+ community. Schedule your tour TODAY!

20. 2025-10-10
    listed $85,000 Active 1217-char remark

    Show marketing remark (1217 chars)

    Welcome to this 2-bedroom, 1 bath double-wide manufactured home offering approximately 800 sq. ft. of comfortable living space. Step inside to find an open and spacious living room that flows seamlessly into the dining area, complete with a built in shelf and wall to-wall carpeting that adds warmth and comfort. Kitchen features recently updated countertops, a fresh white tile backsplash, and newly painted cabinets, creating a bright and inviting space to cook and gather. The bathroom was updated in 2019 with new cabinetry, tile flooring, paint, and a modern shower insert. Additional updates include a roof replacement in 2021, new carpet in 2018, a newly installed durable deck, and a brand-new awning providing extra shade and outdoor comfort. A newer carport with deep space offers convenient covered parking. The washer and dryer (purchased last year) are included for added value. This home also features a heat pump for efficient heating and cooling and sits on a spacious, low-maintenance lot. With its combination of comfort, thoughtful updates, and original charm, this home is move-in ready and ideal for those seeking an easy, relaxed lifestyle in a welcoming 55+ community. Schedule your tour TODAY!

21. 1994-05-23
    soldstatus $20,995
22. 1989-03-01
    soldstatus $17,000

ⓘ 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 · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 11 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,151
• − Mortgage interest: −$3,635
• − Property taxes: −$974
• − Insurance: −$324
• − Repairs & maintenance: −$1,692
• − Management: −$1,692
• − Depreciation: −$1,888
• Taxable income: $10,945
• Est. tax owed @ 24.0%: −$2,627
• After-tax cash flow: $8,700/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: Hillsboro SD 1J
• NCES district ID: 4100023
• Math proficiency: 35% ▼ -4.00%
• Reading proficiency: 46% ▼ -7.00%
• Median HH income: $68,587
• Composite: 36.64/100
• National rank: #4617
• State rank: #13 of 58 in OR

Livability — Hillsboro

• Score: 87/100
• State rank: #13
• US rank: #282

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hillsboro, OR
• County: Washington County · 583,254 people
• City population: 102,767
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 48,410
• Household income: $109,985
• Rent vs Own: 30.2% rent · 69.8% own
• Severe rent burden: 929.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 54% Hispanic / Latino 29% Two or more races 17% Asian 9% Native American 2% Black 2%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Portuguese 3% Italian 3% Lithuanian 2%
• Foreign-born: 20% · Canada, Vietnam, China
• Languages at home: 70% English-only · Spanish 22% Vietnamese 2% Other Indo-European 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: ▼ -419.54%
• Current HPI: 297.1522
• Rent YoY: ▼ -1.44%
• 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

+311.2% since first listed

7 events — show timeline

• 2026-04-13 Price Changed $69,900 RMLS
• 2026-04-06 Price Changed $64,900 RMLS
• 2026-03-06 Price Changed $74,900 RMLS
• 2025-12-29 Price Changed $79,999 RMLS
• 2025-10-10 Listed $85,000 RMLS
• 1994-05-23 Sold (Public Records) $20,995 Public Records
• 1989-03-01 Sold (Public Records) $17,000 Public Records