13045 SE Stark St #109 · Portland, OR 97233

$55,000

2 bd · 2.0 ba · 820 sqft · Manufactured public records · 15 Days on market

Built 1970

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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 +3.9/5.0
• Schools +3.7/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

GREAT PRICE! OWNER SAYS SELL NOW! HUGE PRICE REDUCTION! Double wide in great condition! Rubber roof! Newer central air conditioning and water heater. Spacious living room with large windows for lots of light. Dining room with beautiful built-in hutch. Kitchen with all appliances. Utility room with washer & dryer. Large master bedroom with huge walk-in closet. Good sized 2nd bedroom. Bathroom has updated tub enclosure. Relaxing deck. Grape vine in ez care yard. Space rent includes: Water, sewer & garbage.

Key facts

• Covered carport
• Spacious kitchen
• In-unit laundry

Tags

• SPACIOUS KITCHEN
• DEDICATED DINING AREA
• IN-UNIT LAUNDRY
• COVERED CARPORT
• YARD SPACE

Property features AI

Finance

• Other: Property is resale and not land-lease; Parcel number M354361
• HOA & community: Located in a manufactured home park; monthly lot rent applies ($1,150/month)

Exterior

• Parking: Carport providing parking for 2 vehicles
• Utilities: Electric fuel; Well water; Public sewer
• Home design: Manufactured home in a park (residential); Single-story (main level living); No notable view
• Construction: Built in 1970; Rubber roof
• Exterior features: Deck; Garden; Metal siding

Interior

• Kitchen: Free-standing range; Free-standing refrigerator; Range hood
• Bedrooms: Primary bedroom on main level with walk-in closet; Second bedroom on main level
• Flooring: Vinyl flooring in living areas and some rooms; Wall-to-wall carpet in primary bedroom
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Heat pump for heating and cooling
• Interior features: Vinyl and wall-to-wall carpet flooring; Washer and dryer present; Water softener; Crawl space basement
• Laundry & utility: Washer and dryer in unit; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $55k.

Deal economics

• At list price, monthly cash flow is $723 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $54k (1.5% below list) — sets the bar for market timing.
• Cap rate 22.1% vs local median 2.2% in Portland — 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 77/100 on livability (#72 in OR, #3,256 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: crime F, cost of living F.
• David Douglas SD 40 (urban): math 34% / reading 49% proficiency, ranked #99 of 183 in OR (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Mill Park Elementary School (446 students, 84% FRL); David Douglas High School (2,698 students, 73% FRL).
• Market conditions: Rents flat; 153 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $380 of loan paydown is wiped out by about $2k 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 $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($54k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $5k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $40k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $54,175 (1.5% below list)

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is F 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?
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: 2.54% ✓
• Cap rate: 22.07%
• Cash-on-cash: 56.34%
• DSCR: 3.51
• GRM: 3.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.96% rent growth · sell at horizon

5-year hold

• IRR: 52.4%
• Equity multiple: 3.23×
• Total profit: $34,352
• Equity at exit: $8,201

10-year hold

• IRR: 56.9%
• Equity multiple: 6.08×
• Total profit: $78,234
• Equity at exit: $4,755

Cash invested: $15,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State Oregon: 28 Tenant-Leaning · D+6
• County: — inherits STATE
• City Portland: 0 Strongly Tenant-Friendly · D+39

Mandatory relocation for no-cause evictions; rent increase notice 90 days.

Methodology + full state rankings →

ZIP-level market 97233

• Rents YoY: 1.0%
• Active inventory: 153
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,396 high
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $825/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $723

Break-even live

Break-even rent $481

Max offer price $55,000

Occupancy floor 43%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13110 SE Stark St Unit 02 Portland, OR	2.0	1.0	750	$1,450	$1.93	44d	1	0.08mi
13110 SE Stark St Unit 13 Portland, OR	2.0	1.0	750	$1,375	$1.83	4d	1	0.08mi
450 SE 127th Ave Unit 316 Portland, OR	1.0	1.0	605	$1,100	$1.82	8d	1	0.11mi
450 SE 127th Ave Unit 319 Portland, OR	1.0	1.0	605	$1,300	$2.15	44d	1	0.11mi
450 SE 127th Ave Unit 216 Portland, OR	1.0	1.0	605	$1,100	$1.82	10d	1	0.11mi
450 SE 127th Ave Unit 314 Portland, OR	1.0	1.0	605	$1,175	$1.94	4d	1	0.11mi
12621 SE Stark St Portland, OR	1.0–2.0	1.0	564	$1,131	$2.01	44d	1	0.16mi
303 SE 126th Ave Unit 20 Portland, OR	1.0	1.0	550	$1,200	$2.18	2d	1	0.20mi
12520 SE Stark St Unit 01 Portland, OR	2.0	1.0	915	$1,499	$1.64	2d	1	0.21mi
12520 SE Stark St Unit 06 Portland, OR	2.0	1.0	915	$1,499	$1.64	44d	1	0.21mi
12636 SE Alder St Portland, OR	1.0–2.0	1.0–2.0	840	$1,550	$1.85	3d	3	0.22mi
13400 SE Stark St Unit 08 Portland, OR	1.0	1.0	600	$1,150	$1.92	44d	1	0.24mi
13441 SE Stark St Portland, OR	2.0	1.0	850	$1,125	$1.32	44d	1	0.24mi
13437 SE Stark St Portland, OR	2.0	1.0	850	$1,125	$1.32	44d	1	0.24mi
13210 E Burnside St Unit 13210 Portland, OR	1.0	1.0	589	$995	$1.69	22d	1	0.26mi
13202 NE Couch St Portland, OR	3.0	1.0	1053	$2,500	$2.37	44d	1	0.33mi
515 SE 137th Ave Portland, OR	2.0	1.0	929	$1,325	$1.43	44d	1	0.33mi
13625 SE Stark St Unit 35 Portland, OR	2.0	1.5	900	$1,500	$1.67	18d	1	0.34mi
13625 SE Stark St Portland, OR	2.0	1.0	900	$1,500	$1.67	3d	1	0.35mi
13625 SE Stark St Portland, OR	1.0	1.0	675	$1,150	$1.70	3d	1	0.35mi
13625 SE Stark St Portland, OR	1.0	1.0	675	$1,150	$1.70	24d	1	0.35mi
13625 SE Stark St Portland, OR	1.0–2.0	1.0–1.5	787	$1,500	$1.90	8d	5	0.35mi
611 SE 139th Ave Unit 11 Portland, OR	2.0	1.0	820	$1,495	$1.82	44d	1	0.39mi
1010 SE 122nd Ave Portland, OR	2.0	1.0	865	$1,350	$1.56	16d	1	0.39mi
1403 SE 130th Ave Unit 1403 Portland, OR	2.0	1.0	925	$1,565	$1.69	44d	1	0.40mi
333 SE 139th Ave Portland, OR	2.0	1.0	850	$1,575	$1.85	44d	1	0.40mi
1411 SE 130th Ave Unit 1411 Portland, OR	2.0	1.0	925	$1,565	$1.69	44d	1	0.42mi
13801 SE Stark St Unit 13853 Portland, OR	2.0	1.0	820	$1,350	$1.65	24d	1	0.42mi
13801 SE Stark St Unit 13843 Portland, OR	2.0	1.0	820	$1,400	$1.71	44d	1	0.42mi
13801 SE Stark St Unit 13829 Portland, OR	2.0	1.0	820	$1,375	$1.68	2d	1	0.42mi
13801 SE Stark St Unit 13837 Portland, OR	2.0	1.0	820	$1,375	$1.68	10d	1	0.42mi
12102 SE Pine St Portland, OR	2.0	1.5	814	$1,895	$2.33	24d	1	0.43mi
336 NE 128th Ave Portland, OR	3.0	1.0	1020	$2,445	$2.40	24d	1	0.44mi
12026 SE Ash St Unit 214 Portland, OR	2.0	1.0	700	$1,300	$1.86	44d	1	0.46mi
12026 SE Ash St Unit 105 Portland, OR	1.0	1.0	615	$1,100	$1.79	22d	1	0.46mi
12026 SE Ash St Unit 207 Portland, OR	2.0	1.0	700	$1,200	$1.71	24d	1	0.46mi
12026 SE Ash St Apt 213 Portland, OR	2.0	1.0	700	$1,350	$1.93	12d	1	0.46mi
12110 E Burnside St Portland, OR	2.0	1.0	907	$1,372	$1.51	3d	3	0.47mi
11940 SE Ash St Unit 204 Portland, OR	2.0	1.0	860	$1,399	$1.63	24d	1	0.48mi
1021 SE 122nd Ave Portland, OR	2.0	1.0	875	$1,495	$1.71	12d	1	0.49mi

Listing history 10 events

1. 2026-06-18
   days on market $55,000 Active 15 DOM
2. 2026-06-17
   pricedays on market $55,000 Active 14 DOM
3. 2026-06-16
   days on market $60,000 Active 13 DOM
4. 2026-06-15
   days on market $60,000 Active 12 DOM
5. 2026-06-13
   days on market $60,000 Active 10 DOM
6. 2026-06-09
   days on market $60,000 Active 6 DOM
7. 2026-06-08
   days on market $60,000 Active 5 DOM
8. 2026-06-07
   days on market $60,000 Active 4 DOM
9. 2026-06-05
   remarks 547-char remark
10. 2026-06-05
    listed $60,000 Active 1 DOM

ⓘ 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 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 23 unhealthy d/yr today · 27 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,757
• − Mortgage interest: −$3,081
• − Property taxes: −$825
• − Insurance: −$275
• − Repairs & maintenance: −$1,341
• − Management: −$1,341
• − Depreciation: −$1,600
• Taxable income: $8,295
• Est. tax owed @ 24.0%: −$1,991
• After-tax cash flow: $6,686/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: David Douglas SD 40
• NCES district ID: 4103940
• Math proficiency: 34% ▲ 1.00%
• Reading proficiency: 49% ▲ 1.00%
• Median HH income: $42,781
• Composite: 37.38/100
• National rank: #8926
• State rank: #99 of 183 in OR

Livability — Portland

• Score: 77/100
• State rank: #72
• US rank: #3256

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Portland, OR
• County: Multnomah County · 786,692 people
• City population: 774,334
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 36,236
• Household income: $60,198
• Rent vs Own: 53.0% rent · 47.0% own
• Severe rent burden: 2541.0

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 0.67)
• Race & ethnicity: White 51% Hispanic / Latino 23% Two or more races 13% Asian 9% Black 9% Native American 2%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Scotch-Irish 4% Portuguese 3% Subsaharan African 3%
• Foreign-born: 25% · Canada, Vietnam, China
• Languages at home: 61% English-only · Spanish 18% Russian/Polish/Slavic 7% 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: ▼ -493.14%
• Current HPI: 302.1015
• Rent YoY: ▲ 0.96%
• 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

+20.0% since first listed

5 events — show timeline

• 2026-06-03 Listed $60,000 RMLS
• 2023-09-27 Sold (MLS) $39,985 RMLS
• 2023-09-02 Pending — RMLS
• 2023-08-25 Price Changed $39,985 RMLS
• 2023-08-11 Listed $49,985 RMLS

Property tax history

-41.1%/yr

Latest (2015): $6 · +0.0% YoY. Source: county tax records.