13425 SE Foster Rd #40 · Portland, OR 97236

$275,460

4 bd · 2.0 ba · 1,361 sqft · Condo · 284 Days on market

Built 2023 Good condition $202/sqft · 25% below area Est $365k · 25% under $328/mo HOA · 14% of rent ↓ 8% since listing

---

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).

• ARV discount +15.0/15.0
• Cash flow +7.4/30.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• 1% rule +3.6/10.0
• Rent growth +2.9/5.0
• DSCR +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautifully crafted, newly built townhome in the heart of SE Portland. Offering 4 spacious bedrooms and 2 baths across two well designed floors, this home maximizes natural light through thoughtfully placed windows, creating a bright and inviting atmosphere throughout. With energy-efficient features like a heat pump for both heating and cooling, this home is as eco-friendly as it is comfortable. Enjoy the convenience of brand-new, high-quality appliances including a washer/dryer, refrigerator, range, and dishwasher. Plus, the HOA fee covers water and garbage, making this an even more hassle-free living experience. Take advantage of large grants to make homeownership more affordable! This Proud Ground home offers lasting affordability with resale, owner-occupancy, and other guidelines to maintain value for future buyers. Apply to Proud Ground and receive an invitation before submitting an offer. Buyers must work with a Proud Ground preferred lender. Don’t miss this incredible opportunity!

Key facts

• Newly built townhome
• $328 HOA
• Built 2023

Tags

• NEWLY BUILT TOWNHOME
• ENERGY EFFICIENT FEATURES
• HIGH QUALITY APPLIANCES

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath condo listed at $275k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-360 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $223k (18.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $237k (14.0% below list).
• Recommended offer: $223k (18.9% below list) — sets the bar for cash-flow.
• Cap rate 4.7% 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: Gilbert Park Elementary School (462 students, 76% FRL); Alice Ott Middle School (582 students, 77% FRL); David Douglas High School (2,698 students, 73% FRL).
• Market conditions: Rents rising (+1.6%/yr); 207 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,041 units permitted in Multnomah County in 2024 (905 in 5+ unit buildings).
• This rent runs 38% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• It's been on market 284 days — a 12% lower offer ($242k) is reasonable based on typical stale-listing flexibility.

Recommended offer $223,328 (18.9% below list)

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. It's been on market 284 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.86% ✗
• Cap rate: 4.72%
• Cash-on-cash: -5.61%
• DSCR: 0.75
• GRM: 9.7

CMA / ARV

• ARV (median comp): $364,979
• List price: $275,460
• Delta: -24.53%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.64% rent growth · sell at horizon

5-year hold

• IRR: -27.6%
• Equity multiple: 0.09×
• Total profit: $-70,543
• Equity at exit: $41,072

10-year hold

• IRR: -32.7%
• Equity multiple: -0.33×
• Total profit: $-102,780
• Equity at exit: $23,817

Cash invested: $77,129 (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 97236

• Rents YoY: 1.6%
• Active inventory: 207
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,369 high
• Mortgage (P&I): −$1,445
• Tax est. 1.5%: −$344 /mo · $4,132/yr
• Insurance: −$115
• HOA: −$328
• Vacancy / Maint / Mgmt: −$497
• Net cashflow: $-360

Break-even live

Break-even rent $2,825

Max offer price $223,328

Occupancy floor —

Sensitivity live

Price	-10% $-170	-5% $-265	+0% $-360	+5% $-455	+10% $-551
Rent	-10% $-547	-5% $-454	+0% $-360	+5% $-267	+10% $-173
Rate	-1.0pp $-222	-0.5pp $-290	base $-360	+0.5pp $-432	+1.0pp $-504

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: $68,865
• Closing costs: $8,264
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12941 SE Foster Rd Portland, OR	1.0–3.0	1.0–2.0	1000	$1,825	$1.82	0d	3	0.21mi
12923 SE Foster Rd Portland, OR	2.0–3.0	2.0	1037	$2,100	$2.03	16d	3	0.23mi
6416 SE 139th Ave Portland, OR	3.0	2.0	1200	$2,395	$2.00	0d	1	0.26mi
6130 SE 128th Ave Apt B Portland, OR	3.0	2.0	1500	$1,999	$1.33	9d	1	0.30mi
13726 SE Reedway St Portland, OR	3.0	2.5	1817	$2,295	$1.26	45d	1	0.35mi
6439 SE 143rd Ct #1 Portland, OR	3.0	2.5	1545	$2,395	$1.55	45d	1	0.49mi
5329 SE 137th Ave Portland, OR	3.0	2.5	1559	$2,250	$1.44	25d	1	0.53mi
5344 SE 137th Ave Portland, OR	3.0	2.5	1600	$2,395	$1.50	19d	1	0.54mi
5524 SE 140th Pl Portland, OR	4.0	3.0	1584	$3,050	$1.93	19d	1	0.54mi
12200 SE Ramona St Portland, OR	3.0–4.0	2.0–2.5	1435	$2,498	$1.74	0d	3	0.55mi
11908 SE Foster Rd Portland, OR	3.0	2.0	1300	$2,595	$2.00	45d	1	0.71mi
12086 SE Harold St Portland, OR	3.0	2.5	1425	$2,595	$1.82	0d	1	0.74mi
4904 SE 122nd Ave Portland, OR	3.0	3.0	1504	$4,400	$2.93	45d	1	0.86mi
15110 SE Evergreen Dr Portland, OR	4.0	2.0	1650	$3,400	$2.06	13d	1	0.95mi
3883 SE 136th Ave Portland, OR	4.0	2.5	1660	$2,400	$1.45	45d	1	1.18mi
13436 SE Bush St Portland, OR	2.0–3.0	1.5–2.0	1075	$1,995	$1.86	45d	1	1.24mi
3745-3749 SE 127th Pl Unit 3749 Portland, OR	3.0	2.5	1467	$2,195	$1.50	9d	1	1.27mi
5010 SE 108th Ave Portland, OR	3.0	2.0	1400	$2,350	$1.68	45d	1	1.41mi
3810 SE 117th Pl Portland, OR	3.0	2.5	1378	$2,445	$1.77	25d	1	1.41mi
12550 SE Powell Blvd Portland, OR	1.0–3.0	1.0–2.0	1075	$2,300	$2.14	4d	2	1.42mi
13746 SE Powell Blvd Portland, OR	2.0–3.0	1.0	763	$1,225	$1.60	0d	2	1.44mi

HOA detail condo

• Monthly dues: $328 · $3,936/yr
• Likely covers: watertrash
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-21
   days on market $275,460 Active 284 DOM
2. 2026-06-18
   days on market $275,460 Active 281 DOM
3. 2026-06-17
   days on market $275,460 Active 280 DOM
4. 2026-06-16
   days on market $275,460 Active 279 DOM
5. 2026-06-15
   days on market $275,460 Active 278 DOM
6. 2026-06-13
   days on market $275,460 Active 276 DOM
7. 2026-06-09
   days on market $275,460 Active 272 DOM
8. 2026-06-08
   days on market $275,460 Active 271 DOM
9. 2026-06-07
   days on market $275,460 Active 270 DOM
10. 2026-06-05
    days on market $275,460 Active 267 DOM
11. 2026-06-03
    days on market $275,460 Active 266 DOM
12. 2026-06-02
    days on market $275,460 Active 265 DOM
13. 2026-06-01
    days on market $275,460 Active 264 DOM
14. 2026-05-31
    days on market $275,460 Active 263 DOM
15. 2026-01-30
    price $275,460 1024-char remark

    Show marketing remark (1024 chars)

    Welcome to this beautifully crafted, newly built townhome in the heart of SE Portland. Offering 4 spacious bedrooms and 2 baths across two well designed floors, this home maximizes natural light through thoughtfully placed windows, creating a bright and inviting atmosphere throughout. With energy-efficient features like a heat pump for both heating and cooling, this home is as eco-friendly as it is comfortable. Enjoy the convenience of brand-new, high-quality appliances including a washer/dryer, refrigerator, range, and dishwasher. Plus, the HOA fee covers water and garbage, making this an even more hassle-free living experience. Take advantage of large grants to make homeownership more affordable! This Proud Ground home offers lasting affordability with resale, owner-occupancy, and other guidelines to maintain value for future buyers. Apply to Proud Ground and receive an invitation before submitting an offer. Buyers must work with a Proud Ground preferred lender. Don’t miss this incredible opportunity!

16. 2025-09-10
    listed $300,460 Active 1024-char remark

    Show marketing remark (1024 chars)

    Welcome to this beautifully crafted, newly built townhome in the heart of SE Portland. Offering 4 spacious bedrooms and 2 baths across two well designed floors, this home maximizes natural light through thoughtfully placed windows, creating a bright and inviting atmosphere throughout. With energy-efficient features like a heat pump for both heating and cooling, this home is as eco-friendly as it is comfortable. Enjoy the convenience of brand-new, high-quality appliances including a washer/dryer, refrigerator, range, and dishwasher. Plus, the HOA fee covers water and garbage, making this an even more hassle-free living experience. Take advantage of large grants to make homeownership more affordable! This Proud Ground home offers lasting affordability with resale, owner-occupancy, and other guidelines to maintain value for future buyers. Apply to Proud Ground and receive an invitation before submitting an offer. Buyers must work with a Proud Ground preferred lender. Don’t miss this incredible opportunity!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $28,426
• − Mortgage interest: −$15,430
• − Property taxes: −$4,132
• − Insurance: −$1,377
• − Repairs & maintenance: −$2,274
• − Management: −$2,274
• − HOA: −$3,936
• − Depreciation: −$8,013
• Taxable loss: −$9,011
• Est. tax savings @ 24.0%: +$2,163
• After-tax cash flow: $-2,161/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.

Condition & rehab AI · 3 photos

Good 80/100 Cosmetic rehab

This newly built townhome in SE Portland is in good condition with minimal repairs needed. It offers a bright and inviting atmosphere with energy-efficient features and a hassle-free living experience.

Value-add opportunities

• Both Painting the exterior siding — Fresh paint can enhance the curb appeal and increase the home's value.
• Both Landscaping improvements — Well-maintained landscaping can increase the home's curb appeal and attract more potential buyers.
• Both Interior touch-ups — Fresh paint and minor touch-ups can make the interior look more inviting and increase the home's value.
• Rental HVAC maintenance — A well-maintained HVAC system can attract more renters and reduce utility costs.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior siding — Fresh paint can enhance the curb appeal and increase the home's value. ↑
• Both Landscaping improvements — Well-maintained landscaping can increase the home's curb appeal and attract more potential buyers. ↑
• Both Interior touch-ups — Fresh paint and minor touch-ups can make the interior look more inviting and increase the home's value. ↑
• Rental HVAC maintenance — A well-maintained HVAC system can attract more renters and reduce utility costs. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 37,558
• Household income: $75,090
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 1744.0

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 21% Asian 13% Two or more races 12% Black 9% Pacific Islander 1%
• Hispanic origin (detail): Mexican 15% Cuban 1%
• Common ancestry: Italian 3% Scotch-Irish 2% Subsaharan African 2%
• Foreign-born: 25% · Canada, Vietnam, China
• Languages at home: 63% English-only · Spanish 16% Vietnamese 6% Russian/Polish/Slavic 5%

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: ▼ -334.44%
• Current HPI: 289.931
• Rent YoY: ▲ 1.64%
• 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

-8.3% since first listed

2 events — show timeline

• 2026-01-30 Price Changed $275,460 RMLS
• 2025-09-10 Listed $300,460 RMLS