2681 SE River Rd #10 · Hillsboro, OR 97123

$79,900

2 bd · 2.0 ba · 1,368 sqft · Manufactured public records · 187 Days on market

Built 1970 Est $89k · 10% under ↓ 38% since listing

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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
• ARV discount +12.1/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Ready to retire the “I’ll get to it next weekend” list? This bright, updated double-wide is here to steal your toolbox and give you your Saturdays back. With new flooring, fresh paint inside and out, and a kitchen that finally looks like it belongs in this decade (plus a brand-new dishwasher doing the thankless work), the big stuff is already handled. Both bathrooms have been fully refreshed with clean finishes and a little spa-energy, because you deserve at least one room that feels put together at all times. Out front, a brand-new porch is waiting for morning coffee, evening unwinds, and casual neighbor hellos. Need storage for hobbies, seasonal décor, or your &ld

Key facts

• New floors
• Fresh paint
• Brand new dishwasher

Tags

• NEW FLOORS
• FRESH PAINT
• BRAND NEW DISHWASHER
• FULL MAKEOVER BATHROOMS
• BRAND NEW FRONT PORCH
• SPACIOUS SHED

Property features AI

Finance

• Other: Zoning: MR-1
• HOA & community: Park amenities include commons, maintained grounds, management, meeting room, party room; utilities/services provided: water, sewer, trash; Park allows up to 2 pets under 25 lbs; Senior community; Park name: River Road Mobile Estates; Park space rent $940 monthly (park rental requirement mentioned)

Exterior

• Parking: Carport (1 space); Driveway
• Utilities: Public water; Public sewer; Electric service (electric hot water and fuel)
• Home design: Manufactured home in a park (residential, not attached); Single-level living; Model: Lancer; No notable view
• Construction: Built in 1970; Metal roof; Pillar/post/pier foundation
• Exterior features: Metal siding; Porch; Tool shed; Yard; Level lot; Paved road access

Interior

• Kitchen: Built-in oven; Built-in range; Cooktop; Double oven; Dishwasher; Free-standing refrigerator; Eat bar
• Bedrooms: Primary bedroom on the main level with closet and wall-to-wall carpet; Second bedroom on the main level with closet and wall-to-wall carpet
• Flooring: Laminate flooring in main living areas and kitchen; Wall-to-wall carpet in bedrooms
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Main-floor laundry; Accessible features including main floor bedroom with bath and single-level living; Laundry area; Laminate flooring; Wall-to-wall carpet; Crawl space basement
• Laundry & utility: Main-level laundry / utility room; Electric hot water

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $80k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 27.2% vs local median 2.9% 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.
• Zoned schools: Witch Hazel Elementary School (math 24% / reading 37%, grade F, #251 of 412 statewide, top 62%, 433 students, 68% FRL); South Meadows Middle School (math 22% / reading 47%, grade F, #61 of 128 statewide, top 54%, 709 students, 68% FRL); Hillsboro High School (math 50% / reading 70%, grade C+, #23 of 143 statewide, top 19%, 1,359 students, 68% FRL) — zoned schools average 68% FRL vs 40% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-1.4%/yr); 425 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $552 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 $22k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 187 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $50k (38%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $70,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 187 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: 2.97% ✓
• Cap rate: 27.17%
• Cash-on-cash: 74.54%
• DSCR: 4.32
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $88,920
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2511 SE River Rd #86	0.07mi	2/2.0	1,344 (-2%)	5mo	$86,500	$64	90
2681 SE River Rd #22	0.12mi	3/2.0 (+1)	1,368 (0%)	6mo	$31,000	$23	85
2681 SE River Rd #9	0.01mi	2/2.0	1,200 (-12%)	6mo	$88,000	$73	74
2681 SE River Rd #5	0.07mi	2/2.0	1,188 (-13%)	21mo	$109,000	$92	57
1901 SE Minter Bridge Rd #32	0.66mi	3/2.0 (+1)	1,382 (+1%)	21mo	$45,500	$33	45
1901 SE Minter Bridge Rd	0.43mi	2/2.0	1,232 (-10%)	23mo	$80,000	$65	44

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: 71.1%
• Equity multiple: 4.07×
• Total profit: $68,610
• Equity at exit: $11,913

10-year hold

• IRR: 74.2%
• Equity multiple: 7.56×
• Total profit: $146,834
• Equity at exit: $6,908

Cash invested: $22,372 (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: 425
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $2,372 high
• Mortgage (P&I): −$419
• Tax from tax record: −$32 /mo · $380/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$498
• Net cashflow: $1,390

Break-even live

Break-even rent $613

Max offer price $79,900

Occupancy floor 36%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3041 SE Timberlake Dr Hillsboro, OR	3.0	2.0	1269	$2,395	$1.89	24d	1	0.44mi
2933 SE 38th Ct Hillsboro, OR	3.0	1.5	1088	$1,950	$1.79	44d	1	0.64mi
1467 SE Blanchard St Hillsboro, OR	3.0	2.5	1577	$2,595	$1.65	24d	1	0.76mi
2725 SE 44th Ct Hillsboro, OR	3.0	2.0	1050	$2,245	$2.14	44d	1	0.85mi
1177 SE Fir Grove Loop Hillsboro, OR	3.0	2.0	1200	$2,499	$2.08	44d	1	0.91mi
1146 SE Westerland St Hillsboro, OR	3.0	2.5	1732	$2,495	$1.44	24d	1	0.97mi
1410 SE Alder St Hillsboro, OR	3.0	2.0	1332	$2,495	$1.87	44d	1	1.02mi
4616 SE Lone Oak St Hillsboro, OR	3.0	2.5	1613	$2,695	$1.67	16d	1	1.07mi
1052 SE Portlandia Ave Hillsboro, OR	3.0	2.5	1740	$2,395	$1.38	44d	1	1.12mi
948 SE Elina Ave Hillsboro, OR	3.0	2.5	1568	$2,425	$1.55	3d	1	1.13mi
936 SE Elina Ave Hillsboro, OR	3.0	2.5	1568	$2,385	$1.52	16d	1	1.13mi
3461 SE Ironwood Ave Hillsboro, OR	3.0	2.5	1852	$2,799	$1.51	24d	1	1.13mi
4787 SE Sandalwood St Hillsboro, OR	2.0	3.0	1537	$2,500	$1.63	44d	1	1.14mi
3456 SE Ironwood Ave Hillsboro, OR	3.0	2.5	1786	$2,799	$1.57	24d	1	1.16mi
1048 SE Tamora Ave Hillsboro, OR	3.0	2.5	1662	$2,600	$1.56	17d	1	1.18mi
530 SE 12th Ave Hillsboro, OR	3.0	1.5	1287	$2,800	$2.18	44d	1	1.27mi
2314 SE 53rd Ave Hillsboro, OR	3.0	2.0	1462	$2,500	$1.71	24d	1	1.32mi
117 NE 25th Ave Hillsboro, OR	1.0–2.0	1.0–2.0	893	$1,659	$1.86	11d	7	1.33mi
4264 SE Oak St Hillsboro, OR	3.0	1.5	1025	$2,300	$2.24	4d	1	1.33mi
148 NE 24th Ave Hillsboro, OR	3.0	2.0	1100	$1,950	$1.77	22d	2	1.37mi
1158 SE Oak St Hillsboro, OR	3.0	2.5	1550	$2,295	$1.48	8d	1	1.37mi
1120 SE Baseline St Apt 4 Hillsboro, OR	2.0	1.5	907	$1,950	$2.15	17d	1	1.45mi
740 SE Cedar St Hillsboro, OR	3.0	1.5	1197	$2,295	$1.92	44d	1	1.49mi

Listing history 3 events

1. 2026-06-13
   statusdays on market $79,900 Pending 187 DOM
2. 2026-06-10
   remarks 674-char remark
3. 2026-06-10
   listed $79,900 Active 185 DOM

ⓘ 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: $380 · $32/mo
• Projected year-2 tax: $775 · $65/mo
• Expected delta: +$395/yr (+$33/mo · 104.0%)

ⓘ 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 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: $28,462
• − Mortgage interest: −$4,476
• − Property taxes: −$380
• − Insurance: −$400
• − Repairs & maintenance: −$2,277
• − Management: −$2,277
• − Depreciation: −$2,324
• Taxable income: $16,328
• Est. tax owed @ 24.0%: −$3,919
• After-tax cash flow: $12,758/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

-38.5% since first listed

7 events — show timeline

• 2026-05-02 Price Changed $79,900 RMLS
• 2026-04-14 Relisted — RMLS
• 2026-02-21 Relisted — RMLS
• 2026-02-21 Price Changed $90,000 RMLS
• 2025-12-03 Pending — RMLS
• 2025-09-13 Relisted — RMLS
• 2025-04-10 Listed $129,900 RMLS

Property tax history

+20.1%/yr

Latest (2016): $380 · +20.3% YoY. Source: county tax records.