507 N 19th Ave #30 · Cornelius, OR 97113

$59,500

3 bd · 2.0 ba · 1,248 sqft · Manufactured public records · 19 Days on market

Built 1984 $48/sqft · 44% below area Est $106k · 44% under

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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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.1/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MOUNTAIN RETREAT ATMOSPHERE W/VIEW! 3BR/2BA! GREAT 55+APRVD PARK ON WEST SIDE! NESTLED IN THE WOODS&ONLY 3 MIN TO SHOPPING! 1248SF! NEW COMP ROOF IN 1999! COZY WOOD STOVE! HEAT PUMP! GREAT OPPORTUNITY! ONLY $24850!

Key facts

• Private back deck
• Walking paths
• Nearby shopping

Tags

• PRIVATE BACK DECK
• LUSH NATURAL GREEN SPACE
• CLUBHOUSE WITH SOCIAL EVENTS
• WALKING PATHS
• NEARBY SHOPPING

Property features AI

Finance

• Other: Unit dimensions approximately 24 ft by 52 ft; Main level area approximately 1,248 (building area)
• Financial info: Monthly lot rent listed (landlord/park fee)
• HOA & community: 55+ (senior) community; Smoke Tree Mobile Home Park; Commons and meeting room amenities; Pet policy: small dogs only; Monthly lot rent

Exterior

• Parking: Carport; Driveway; One covered parking space
• Security: Security lights
• Utilities: Public water; Public sewer; Electric service; Cable internet available
• Home design: Manufactured home in a park (model: Greenleaf by Skyline); Single-story/main level entry; Main level living; Creek/stream, park/greenbelt and trees/woods views
• Construction: Built in 1984; Composition/shingle roof; Concrete perimeter foundation
• Exterior features: Covered deck; Porch; Garden; Yard; Security lights; Creek frontage / creek on property; Private, level lot with trees; Paved road access; T-111 siding and wood composite exterior

Interior

• Kitchen: Dishwasher; Disposal; Free-standing refrigerator; Built-in oven; Kitchen open to family room
• Bedrooms: Primary bedroom on main level with attached bathroom; Second bedroom on main level; Third bedroom on main level
• Flooring: Wall-to-wall carpet
• Bathrooms: Two full bathrooms (both on main level)
• Heating & cooling: Forced air heating; Window cooling unit(s); Electric hot water
• Interior features: Ceiling fan(s); Laundry area; Washer and dryer included; Double pane windows; Accessible approach with ramp; Wood burning fireplace; Vaulted ceiling(s)
• Laundry & utility: Laundry area with washer and dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $60k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• Cap rate 31.2% vs local median 2.9% in Cornelius — 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 (#47 in OR, #1,193 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: amenities C-, cost of living C-.
• Forest Grove SD 15 (suburban): math 32% / reading 46% proficiency, ranked #111 of 183 in OR (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cornelius Elementary School (371 students, 93% FRL); Neil Armstrong Middle School (math 24% / reading 75%, grade C, #26 of 128 statewide, top 21%, 826 students, 48% FRL); Forest Grove High School (1,977 students, 41% FRL).
• Market conditions: 113 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $411 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 + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 24y 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.
• Current owner paid $22k; list at $60k implies a 170% gain — meaningful room to come down on a strong offer.

Recommended offer $58,607 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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.
4. 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.
5. 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: 3.43% ✓
• Cap rate: 31.25%
• Cash-on-cash: 89.12%
• DSCR: 4.97
• GRM: 2.4

CMA / ARV

• ARV (median comp): $105,529
• List price: $59,500
• Delta: -43.62%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
507 N 19th Ave #37	0.00mi	3/2.0	1,344 (+8%)	13mo	$120,000	$89	77
2329 N Gray St	0.33mi	3/2.0	1,296 (+4%)	2mo	$375,000	$289	76
570 N 10th Ave #10	0.35mi	3/2.0	1,188 (-5%)	5mo	$45,000	$38	72
507 N 19th Ave #68	0.00mi	3/2.0	1,344 (+8%)	20mo	$95,000	$71	71
893 N 14th Pl #32	0.23mi	3/2.0	1,296 (+4%)	16mo	$160,000	$123	70
570 N 10th Ave #56	0.35mi	3/2.0	1,404 (+12%)	8mo	$65,000	$46	56

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 89.7%
• Equity multiple: 5.15×
• Total profit: $69,165
• Equity at exit: $8,872

10-year hold

• IRR: 92.7%
• Equity multiple: 10.71×
• Total profit: $161,726
• Equity at exit: $5,144

Cash invested: $16,660 (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 97113

• Active inventory: 113
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $2,039 high
• Mortgage (P&I): −$312
• Tax from tax record: −$37 /mo · $445/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $1,237

Break-even live

Break-even rent $473

Max offer price $59,500

Occupancy floor 34%

Sensitivity live

Price	-10% $1,271	-5% $1,254	+0% $1,237	+5% $1,220	+10% $1,204
Rent	-10% $1,076	-5% $1,157	+0% $1,237	+5% $1,318	+10% $1,398
Rate	-1.0pp $1,267	-0.5pp $1,252	base $1,237	+0.5pp $1,222	+1.0pp $1,206

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: $14,875
• Closing costs: $1,785
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
889 N 18th Ave Cornelius, OR	3.0	2.5	1492	$2,395	$1.61	2d	1	0.08mi
898 N 18th Ave Cornelius, OR	3.0	2.5	1417	$2,195	$1.55	2d	1	0.10mi
873 N 19th Ave Cornelius, OR	3.0	2.5	1396	$2,245	$1.61	2d	1	0.11mi
1100 N Davis St Cornelius, OR	2.0	1.0	750	$1,645	$2.19	2d	2	0.41mi
1250 E Baseline St Unit 4 Cornelius, OR	2.0	1.0	700	$1,280	$1.83	5d	1	0.50mi
110 N 7th Ave Apt A Cornelius, OR	2.0	2.0	1015	$1,609	$1.59	8d	1	0.68mi
120 N 7th Ave Unit D Cornelius, OR	2.0	2.0	1015	$1,699	$1.67	44d	1	0.68mi
110 N 7th Ave Apt C Cornelius, OR	2.0	2.0	1015	$1,749	$1.72	44d	1	0.68mi
2795 N Clark Ct Cornelius, OR	3.0	2.0	1100	$2,295	$2.09	18d	1	0.68mi
100 N 7th Ave Apt B Cornelius, OR	2.0	2.0	1015	$1,599	$1.58	16d	1	0.69mi
100 N 7th Ave Unit A Cornelius, OR	2.0	2.0	1015	$1,595	$1.57	21d	1	0.69mi
101 N 7th Ave Apt D Cornelius, OR	2.0	1.5	936	$1,545	$1.65	16d	1	0.71mi
101 N 7th Ave Unit C Cornelius, OR	2.0	1.5	936	$1,499	$1.60	23d	1	0.71mi
299 N 5th Pl Cornelius, OR	2.0	2.0	956	$1,900	$1.99	44d	1	0.79mi
184 S 5th Ave Unit 164 Cornelius, OR	2.0	1.5	1114	$1,795	$1.61	16d	1	0.87mi
1318 S Ivy St Cornelius, OR	2.0	1.0	816	$1,795	$2.20	25d	1	0.90mi
1330 S Ivy St Cornelius, OR	2.0	1.0	816	$1,745	$2.14	25d	1	0.90mi
1367 S Ivy St Apt B Cornelius, OR	2.0	1.0	800	$1,550	$1.94	44d	1	0.93mi
4300 Pacific Ave Forest Grove, OR	2.0	1.5	950	$1,645	$1.73	2d	5	1.16mi
4204 Pacific Ave Forest Grove, OR	2.0	1.0	900	$1,500	$1.67	2d	1	1.23mi
313 S Nectarine St Cornelius, OR	3.0	2.0	1114	$2,295	$2.06	21d	1	1.41mi

Listing history 8 events

1. 2026-06-21
   days on market $59,500 Active 19 DOM
2. 2026-06-18
   days on market $59,500 Active 16 DOM
3. 2026-06-17
   days on market $59,500 Active 15 DOM
4. 2026-06-16
   days on market $59,500 Active 14 DOM
5. 2026-06-16
   status $59,500 Active 13 DOM
6. 2026-05-12
   listed $59,500 Active 850-char remark
7. 2002-12-19
   soldstatus $22,000 218-char remark

   Show marketing remark (218 chars)

   MOUNTAIN RETREAT ATMOSPHERE W/VIEW! 3BR/2BA! GREAT 55+APRVD PARK ON WEST SIDE! NESTLED IN THE WOODS&ONLY 3 MIN TO SHOPPING! 1248SF! NEW COMP ROOF IN 1999! COZY WOOD STOVE! HEAT PUMP! GREAT OPPORTUNITY! ONLY $24850!

8. 2002-10-09
   listed $24,850 218-char remark

   Show marketing remark (218 chars)

   MOUNTAIN RETREAT ATMOSPHERE W/VIEW! 3BR/2BA! GREAT 55+APRVD PARK ON WEST SIDE! NESTLED IN THE WOODS&ONLY 3 MIN TO SHOPPING! 1248SF! NEW COMP ROOF IN 1999! COZY WOOD STOVE! HEAT PUMP! GREAT OPPORTUNITY! ONLY $24850!

ⓘ 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: $445 · $37/mo
• Projected year-2 tax: $577 · $48/mo
• Expected delta: +$132/yr (+$11/mo · 29.7%)

ⓘ 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: $24,473
• − Mortgage interest: −$3,333
• − Property taxes: −$445
• − Insurance: −$298
• − Repairs & maintenance: −$1,958
• − Management: −$1,958
• − Depreciation: −$1,731
• Taxable income: $14,751
• Est. tax owed @ 24.0%: −$3,540
• After-tax cash flow: $11,306/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: Forest Grove SD 15
• NCES district ID: 4105160
• Math proficiency: 32% ▼ -4.00%
• Reading proficiency: 46% ▼ -4.00%
• Median HH income: $52,159
• Composite: 36.31/100
• National rank: #9395
• State rank: #111 of 183 in OR

Livability — Cornelius

• Score: 82/100
• State rank: #47
• US rank: #1193

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cornelius, OR
• Population (ZIP): 15,621

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 0.57)
• Race & ethnicity: Hispanic / Latino 47% White 46% Two or more races 13% Native American 4% Asian 2%
• Hispanic origin (detail): Mexican 42%
• Common ancestry: Iranian 3% Italian 2% Portuguese 2%
• Foreign-born: 24% · Canada, China, Vietnam
• Languages at home: 55% English-only · Spanish 42% Other Indo-European 1% Chinese 1%

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: ▼ -171.16%
• Current HPI: 285.7514
• Rent YoY: —
• Metro: —
• 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

+139.4% since first listed

5 events — show timeline

• 2026-06-16 Relisted — RMLS
• 2026-05-26 Pending — RMLS
• 2026-05-12 Listed $59,500 RMLS
• 2002-12-19 Sold (MLS) $22,000 RMLS
• 2002-10-09 Listed $24,850 RMLS

Property tax history

+1.0%/yr

Latest (2016): $445 · +7.0% YoY. Source: county tax records.