1111 SE 3rd Ave #61 · Canby, OR 97013

$178,000

3 bd · 2.0 ba · 1,456 sqft · Condo · 6 Days on market

Built 1997 $122/sqft · 84% above area

---

Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Cash flow +4.3/30.0
• Livability +4.1/5.0
• Schools +3.6/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lovely home has beautiful 30 year laminate flooring and nice carpets, this has been a non-smoker and no pet home. Roof, heat pump and hot water heater are all 2 yrs old. Very private fenced back yard, with patio and gazebo awning included. Very charming, lots of upgrades. Financing available.

Key facts

• Double sink
• Private fenced yard
• Ample storage area

Tags

• PRIVATE FENCED YARD
• ENSUITE BATHROOM
• JETTED BATHTUB
• DOUBLE SINK
• KITCHEN WITH CABINETS
• AMPLE STORAGE AREA

Property features AI

Finance

• Other: Parcel number 01757263
• Financial info: Monthly lot rent of $1,161 (land lease); lease expires December 31, 2026
• HOA & community: Monthly association/park fee (land lease) with pet restrictions: indoor pets less than 20 lbs; Located in Pine Crossing Estates (park name); Land lease in effect (monthly lot rent)

Exterior

• Parking: Driveway parking (2 spaces); Attached 2-car garage
• Utilities: Public water; Public sewer; Electric service (fuel: electricity)
• Home design: Manufactured home in a park (residential); Single-story / main-level living; No notable view
• Construction: Built in 1997; Composition roof; Block foundation
• Exterior features: Fenced yard; Patio; Wood composite exterior

Interior

• Kitchen: Skylight in kitchen; Dishwasher; Garbage disposal; Free-standing range; Free-standing refrigerator
• Bedrooms: Primary bedroom on the main level with ensuite; Second bedroom on the main level; Third bedroom on the main level
• Flooring: Wood floors
• Bathrooms: One full bathroom on the main level; One partial bathroom on the main level (total 2 bathrooms: 1 full, 1 partial)
• Heating & cooling: Forced air heating; Central air conditioning; Heat pump
• Interior features: Ceiling fans; High ceilings; Jetted tub; Skylights; Washer and dryer present; Wood floors; Double-pane windows; Accessible features (minimal steps, walk-in shower, utility room on main, kitchen cabinets adapted)
• Laundry & utility: Washer and dryer on main level; Electric hot water

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $178k.

Deal economics

• At list price, monthly cash flow is $-473 ($-6k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $178k).
• Cap rate 3.1% vs local median 2.1% in Canby — 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 82/100 on livability (#43 in OR, #1,056 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: cost of living D-.
• Canby SD 86 (town): math 36% / reading 45% proficiency, ranked #14 of 58 in OR (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Philander Lee Elementary School (math 10% / reading 44%, grade F, #288 of 412 statewide, top 73%, 316 students, 37% FRL); Baker Prairie Middle School (math 42% / reading 54%, grade C-, #30 of 128 statewide, top 23%, 557 students, 33% FRL); Canby High School (math 75% / reading 75%, grade A-, #2 of 143 statewide, top 6%, 1,393 students, 27% FRL).
• Market conditions: Rents rising (+1.9%/yr); 166 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y ago 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.

Risks & watch-outs

• Watch-outs: HOA is 49% of rent.

Recommended offer $178,000

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.15% ✓
• Cap rate: 3.10%
• Cash-on-cash: -11.40%
• DSCR: 0.49
• GRM: 7.3

CMA / ARV

• ARV (median comp): $97,000
• List price: $178,000
• Delta: 83.51%
• Verdict: OVERPRICED
• Comps: 11 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.89% rent growth · sell at horizon

5-year hold

• IRR: -39.1%
• Equity multiple: -0.22×
• Total profit: $-60,696
• Equity at exit: $26,540

10-year hold

• IRR: -74.2%
• Equity multiple: -0.98×
• Total profit: $-98,472
• Equity at exit: $15,390

Cash invested: $49,840 (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 97013

• Rents YoY: 1.9%
• Active inventory: 166
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,044 high
• Mortgage (P&I): −$933
• Tax from tax record: −$82 /mo · $989/yr
• Insurance: −$74
• HOA est. from 2 same-building comps: −$998
• Vacancy / Maint / Mgmt: −$429
• Net cashflow: $-473

Break-even live

Break-even rent $2,643

Max offer price $94,368

Occupancy floor —

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: $44,500
• Closing costs: $5,340
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
700 SE 5th Ave Canby, OR	2.0–3.0	2.0	1066	$1,840	$1.73	2d	2	0.13mi
259 S Sequoia Pkwy Canby, OR	1.0–3.0	1.0–2.0	1013	$2,330	$2.30	2d	12	0.32mi
575 N Pine St Unit 575 Canby, OR	2.0	1.0	1100	$1,550	$1.41	4d	1	0.39mi
645 N Pine St Canby, OR	2.0	1.0	1100	$1,550	$1.41	2d	1	0.39mi
625 N Pine St Unit 639 Canby, OR	2.0	1.0	1100	$1,550	$1.41	44d	1	0.41mi
190 SE 3rd Ave Canby, OR	3.0	2.0	1196	$2,450	$2.05	44d	1	0.44mi
499 SW 5th Ave Canby, OR	3.0	1.0	942	$2,195	$2.33	44d	1	0.76mi
259 N Cedar St Canby, OR	3.0	2.5	1453	$2,399	$1.65	8d	1	1.00mi
1802 N Pine St Canby, OR	2.0	2.0	1002	$1,499	$1.50	4d	1	1.05mi
267 N Aspen St Canby, OR	3.0	2.5	1252	$2,100	$1.68	20d	1	1.10mi
2040 N Redwood St Canby, OR	1.0–2.0	1.0	910	$1,599	$1.76	2d	2	1.20mi

HOA detail condo

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

Listing history 6 events

1. 2026-05-07
   status Pending 325-char remark
2. 2026-05-07
   price $178,000 325-char remark
3. 2026-04-30
   listed $175,000 Active 325-char remark
4. 2021-09-03
   soldstatus $160,000 Sold 293-char remark

   Show marketing remark (293 chars)

   Lovely home has beautiful 30 year laminate flooring and nice carpets, this has been a non-smoker and no pet home. Roof, heat pump and hot water heater are all 2 yrs old. Very private fenced back yard, with patio and gazebo awning included. Very charming, lots of upgrades. Financing available.

5. 2021-07-21
   status Pending 293-char remark

   Show marketing remark (293 chars)

   Lovely home has beautiful 30 year laminate flooring and nice carpets, this has been a non-smoker and no pet home. Roof, heat pump and hot water heater are all 2 yrs old. Very private fenced back yard, with patio and gazebo awning included. Very charming, lots of upgrades. Financing available.

6. 2021-07-19
   listed $160,000 Active 293-char remark

   Show marketing remark (293 chars)

   Lovely home has beautiful 30 year laminate flooring and nice carpets, this has been a non-smoker and no pet home. Roof, heat pump and hot water heater are all 2 yrs old. Very private fenced back yard, with patio and gazebo awning included. Very charming, lots of upgrades. Financing available.

ⓘ 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: $989 · $82/mo
• Projected year-2 tax: $1,727 · $144/mo
• Expected delta: +$737/yr (+$61/mo · 74.5%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 16 unhealthy d/yr today · 18 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,526
• − Mortgage interest: −$9,971
• − Property taxes: −$989
• − Insurance: −$890
• − Repairs & maintenance: −$1,962
• − Management: −$1,962
• − HOA: −$11,976
• − Depreciation: −$5,178
• Taxable loss: −$8,402
• Est. tax savings @ 24.0%: +$2,017
• After-tax cash flow: $-3,665/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: Canby SD 86
• NCES district ID: 4102640
• Math proficiency: 36% ▼ -4.00%
• Reading proficiency: 45% ▼ -5.00%
• Median HH income: $64,246
• Composite: 36.24/100
• National rank: #4717
• State rank: #14 of 58 in OR

Livability — Canby

• Score: 82/100
• State rank: #43
• US rank: #1056

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Canby, OR
• County: Clackamas County · 361,406 people
• City population: 24,293
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 24,293
• Household income: $101,832
• Rent vs Own: 27.2% rent · 72.8% own
• Severe rent burden: 575.0

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 18% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Portuguese 4% Lithuanian 3% Italian 2%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 83% English-only · Spanish 14% Russian/Polish/Slavic 1% Vietnamese 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: ▼ -427.87%
• Current HPI: 287.758
• Rent YoY: ▲ 1.89%
• 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

+11.2% since first listed

6 events — show timeline

• 2026-05-07 Pending — RMLS
• 2026-05-07 Price Changed $178,000 RMLS
• 2026-04-30 Listed $175,000 RMLS
• 2021-09-03 Sold (MLS) $160,000 RMLS
• 2021-07-21 Pending — RMLS
• 2021-07-19 Listed $160,000 RMLS

Property tax history

+3.1%/yr

Latest (2025): $989 · +2.9% YoY. Source: county tax records.