12450 SW Fischer Rd #146 · King City, OR 97224

$40,000

2 bd · 1.0 ba · 803 sqft · Manufactured public records · 6 Days on market

Built 1965 Est $35k · 13% over

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Why this score? — see what drove the D 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 +15.0/30.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.9/10.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• ARV discount +1.6/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this charming 2-bedroom, 1-bath manufactured home located in the desirable King Village community. Offering comfortable, low-maintenance living, this home features a bright and inviting layout designed for everyday convenience. The living and dining areas showcase attractive laminate flooring, creating a warm and welcoming atmosphere. The kitchen is thoughtfully designed with a built-in dishwasher, microwave, convenient eat bar, and ample cabinet space, making meal preparation and entertaining a breeze. The spacious primary bedroom includes a walk-in closet, providing plenty of storage and organization space. A second bedroom offers flexibility for guests, a home office, or hobbi

Key facts

• Laminate flooring
• Manufactured home
• Walk-in closet

Tags

• MANUFACTURED HOME
• LAMINATE FLOORING
• BUILT-IN DISHWASHER
• AMPLE CABINET SPACE
• WALK-IN CLOSET
• COMMUNITY AMENITIES

Property features AI

Finance

• Other: Property listed as residential, not attached; Total main level area reported as 803 (tax/building area)
• Financial info: Land lease in place (monthly lot rent)
• HOA & community: Community amenities include commons, gym, pool, meeting room, recreation facilities, maintenance of grounds and management

Exterior

• Parking: Carport; Off-street parking
• Utilities: Public water; Public sewer; Electric hot water; Electric fuel/power
• Home design: Manufactured home in a park; Single-story (main level living); No notable view
• Construction: Built in 1965; Aluminum and vinyl siding; Metal roof; Concrete perimeter foundation
• Exterior features: Fenced yard; Raised garden beds; Tool shed; Yard area; Paved road access

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Free-standing range; Free-standing refrigerator; Eat bar and L-shaped layout
• Bedrooms: Primary bedroom on main level with walk-in closet and laminate flooring; Second bedroom on main level with closet and laminate flooring
• Flooring: Laminate flooring
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Forced-air heating; No central cooling
• Interior features: Laminate flooring throughout main living areas; Laundry area on main level
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $40k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Cap rate 39.9% 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.
• Zoned schools: Alberta Rider Elementary School (math 24% / reading 75%, grade D+, #100 of 412 statewide, top 26%, 504 students, 22% FRL); Twality Middle School (math 54% / reading 64%, grade B, #17 of 128 statewide, top 14%, 918 students, 31% FRL); Tualatin High School (math 75% / reading 75%, grade A-, #2 of 143 statewide, top 6%, 1,747 students, 25% FRL) — zoned schools at 26% FRL track the district average.
• Market conditions: Rents soft (-0.4%/yr); 424 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals leasing fast (median 13d 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 $277 of loan paydown is wiped out by about $1k 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 $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $40,000

Questions for the listing agent

1. Built in 1965 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 4.42% ✓
• Cap rate: 39.93%
• Cash-on-cash: 120.12%
• DSCR: 6.34
• GRM: 1.9

CMA / ARV

• ARV (on-the-fly): $35,332
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17181 SW Eldorado Dr	0.26mi	2/1.0	864 (+8%)	10mo	$14,500	$17	67
11712 SW Royal Villa Dr #96	0.44mi	2/1.0	760 (-5%)	8mo	$45,000	$59	64
11544 SW Royal Villa Dr	0.50mi	2/1.0	800 (-0%)	20mo	$22,500	$28	59
11544 SW Royal Villa Dr #15	0.55mi	2/1.0	800 (-0%)	18mo	$59,500	$74	59
11736 SW Royal Villa Dr	0.37mi	1/1.0 (-1)	732 (-9%)	7mo	$32,000	$44	57
17175 SW Eldorado Dr #99	0.29mi	2/1.0	888 (+11%)	18mo	$25,000	$28	54
11626 SW Royal Villa Dr	0.43mi	2/2.0	840 (+5%)	24mo	$39,500	$47	48

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: —
• Equity multiple: 6.34×
• Total profit: $59,768
• Equity at exit: $5,964

10-year hold

• IRR: —
• Equity multiple: 12.08×
• Total profit: $124,066
• Equity at exit: $3,458

Cash invested: $11,200 (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: 424
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,769 high
• Mortgage (P&I): −$210
• Tax est. 1.5%: −$50 /mo · $600/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $1,121

Break-even live

Break-even rent $350

Max offer price $40,000

Occupancy floor 32%

Sensitivity live

Price	-10% $1,149	-5% $1,135	+0% $1,121	+5% $1,107	+10% $1,094
Rent	-10% $981	-5% $1,051	+0% $1,121	+5% $1,191	+10% $1,261
Rate	-1.0pp $1,141	-0.5pp $1,131	base $1,121	+0.5pp $1,111	+1.0pp $1,100

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12070 SW Fischer Rd Portland, OR	1.0–3.0	1.0–2.0	925	$1,812	$1.96	3d	9	0.15mi
17000 SW Pacific Hwy Portland, OR	1.0–2.0	1.0–2.0	684	$1,575	$2.30	45d	3	0.34mi
17865 SW Pacific Hwy Tualatin, OR	1.0–3.0	1.0–2.0	970	$1,970	$2.03	3d	13	0.38mi
16444 SW 130th Ter King City, OR	2.0	2.0	1002	$1,695	$1.69	45d	1	0.41mi
16849 SW 131st Ave Portland, OR	2.0	2.0	1029	$1,950	$1.90	16d	1	0.41mi
13060 SW Dickson St Portland, OR	2.0	2.0	1108	$1,850	$1.67	45d	1	0.42mi
16901 SW 132nd Ter Unit 16915 B Tigard, OR	1.0	1.0	714	$1,695	$2.37	6d	1	0.43mi
11865 SW Tualatin Rd Tualatin, OR	2.0–3.0	2.0–2.5	1154	$1,659	$1.44	0d	18	0.45mi
10900 SW Gaarde St Portland, OR	2.0	1.0	825	$1,525	$1.85	9d	4	0.47mi
10900 SW Gaarde St Unit 273-16 Tigard, OR	2.0	1.0	900	$1,575	$1.75	25d	1	0.47mi
17979 SW 115th Ave Unit 6 Tualatin, OR	2.0	1.5	1064	$1,625	$1.53	25d	1	0.56mi
17987 SW 115th Ave Unit 1 Tualatin, OR	2.0	1.0	900	$1,475	$1.64	25d	1	0.61mi
17989 SW 115th Ave Tualatin, OR	2.0	1.0–1.5	982	$1,550	$1.58	25d	2	0.62mi
16055 SW 108th Ave Tigard, OR	1.0–2.0	1.0–2.0	852	$1,940	$2.28	9d	9	0.92mi
13830 SW Chinn Ln Portland, OR	1.0–3.0	1.0–2.0	839	$1,724	$2.05	5d	11	0.93mi
11773 SW King George Dr King City, OR	1.0–2.0	1.0–2.0	826	$2,500	$3.03	13d	7	0.94mi
14495 SW Beef Bend Rd Portland, OR	1.0–2.0	1.0–2.0	845	$1,925	$2.28	6d	12	1.08mi
11390 SW Naeve St Tigard, OR	1.0–2.0	1.0–2.0	893	$2,119	$2.37	5d	5	1.11mi
11545 SW Beef Bend Rd Portland, OR	2.0	2.0	935	$1,514	$1.62	4d	1	1.13mi
15199 SW Royalty Pkwy Portland, OR	1.0–3.0	1.0–2.0	884	$1,805	$2.04	3d	12	1.15mi
11430 SW Bull Mountain Rd Tigard, OR	2.0	2.0	986	$1,970	$2.00	5d	6	1.26mi
14799 SW 109th Ave Unit 2502 Tigard, OR	2.0	2.0	986	$1,645	$1.67	45d	1	1.31mi
14799 SW 109th Ave Unit 7504 Tigard, OR	2.0	2.0	986	$1,575	$1.60	25d	1	1.31mi
14799 SW 109th Ave Unit 5702 Tigard, OR	2.0	2.0	986	$1,745	$1.77	23d	1	1.31mi
14799 SW 109th Ave Unit 3102 Tigard, OR	2.0	2.0	986	$1,695	$1.72	9d	1	1.31mi
14844 SW 109th Ave Portland, OR	2.0	1.5	1024	$1,950	$1.90	45d	1	1.32mi
10695 SW Murdock St Tigard, OR	2.0	1.0	793	$1,806	$2.28	3d	13	1.39mi
9720 SW Tualatin Rd Tualatin, OR	2.0	2.0	1100	$1,750	$1.59	45d	1	1.40mi

Listing history 6 events

1. 2026-06-18
   status $40,000 Pending 6 DOM
2. 2026-06-17
   days on market $40,000 Active 6 DOM
3. 2026-06-16
   days on market $40,000 Active 5 DOM
4. 2026-06-15
   days on market $40,000 Active 4 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $40,000 Active 2 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 15 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: $21,229
• − Mortgage interest: −$2,241
• − Property taxes: −$600
• − Insurance: −$200
• − Repairs & maintenance: −$1,698
• − Management: −$1,698
• − Depreciation: −$1,164
• Taxable income: $13,628
• Est. tax owed @ 24.0%: −$3,271
• After-tax cash flow: $10,183/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

1 event — show timeline

• 2026-06-11 Listed $40,000 RMLS

Property tax history

-28.8%/yr

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