21100 NE Sandy Blvd #18 · Fairview, OR 97024

$79,999

2 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 661 Days on market

Built 1977 $60/sqft · 10% below area Est $89k · 10% under ↓ 32% since listing

---

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 +12.2/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located on a dead end and beautifully updated manufactured home in 55+ community. The kitchen was thoughtfully redone with class in mind, the cabinets are bountiful, and it has a newer oven and cooktop. The newer roof will give you peace of mind and the updated plumbing will help keep maintenance, minimal. There is addition living space in the sunroom and the two sheds offer plenty of storage for tools and outdoor furniture; power is in one of them already, allowing for shop tools. There is also a ramp for accessibility and a large, newly done, walk in shower. Don't miss this opportunity!

Key facts

• Four-year-old roof
• Large walk-in shower
• Updated plumbing

Tags

• FOUR-YEAR-OLD ROOF
• UPDATED PLUMBING
• TWO SHEDS FOR STORAGE
• RAMP FOR ACCESSIBILITY
• LARGE WALK-IN SHOWER

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 $991 ($12k/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 21.2% vs local median 2.8% in Fairview — 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 75/100 on livability (#85 in OR, #4,103 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A-; Watch: cost of living D, amenities F.
• Reynolds SD 7 (suburban): math 21% / reading 36% proficiency, ranked #162 of 183 in OR (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Fairview Elementary School (299 students, 98% FRL); Reynolds Middle School (837 students, 98% FRL); Reynolds High School (2,474 students, 67% FRL) — zoned schools average 88% FRL vs 66% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-1.0%/yr); 54 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 2,041 units permitted in Multnomah County in 2024 (905 in 5+ unit buildings).
• This rent runs 32% of the median local income ($70k/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 $553 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 661 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $38k (32%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $70,399 (12.0% below list)

Questions for the listing agent

1. It's been on market 661 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 1977 — 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. 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?
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: 2.33% ✓
• Cap rate: 21.16%
• Cash-on-cash: 53.10%
• DSCR: 3.36
• GRM: 3.6

CMA / ARV

• ARV (median comp): $89,365
• List price: $79,999
• Delta: -10.48%
• Verdict: UNDERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21100 NE Sandy Blvd #127	0.01mi	2/2.0	1,344 (0%)	13mo	$84,500	$63	89
21100 NE Sandy Blvd #39	0.08mi	2/2.0	1,224 (-9%)	2mo	$75,000	$61	80
21100 NE Sandy Blvd	0.11mi	2/2.0	1,248 (-7%)	11mo	$90,000	$72	74
21100 NE Sandy Blvd #2	0.18mi	2/2.0	1,236 (-8%)	10mo	$49,000	$40	70
21100 NE Sandy Blvd #137	0.15mi	2/2.0	1,440 (+7%)	15mo	$43,000	$30	69
21100 NE Sandy Blvd #79	0.16mi	3/2.0 (+1)	1,432 (+6%)	10mo	$83,000	$58	68
2500 NE 201st Ave #26	0.44mi	3/2.0 (+1)	1,404 (+4%)	2mo	$67,000	$48	65
2600 NE 205th Ave #20	0.29mi	3/2.0 (+1)	1,456 (+8%)	8mo	$164,518	$113	61
3201 NE 223rd Ave #7	0.65mi	3/2.0 (+1)	1,344 (0%)	9mo	$117,320	$87	57
2632 NE 201st Ave #30	0.45mi	3/2.0 (+1)	1,404 (+4%)	13mo	$120,000	$85	56
3201 NE 223rd Ave #41	0.69mi	3/2.0 (+1)	1,296 (-4%)	15mo	$153,000	$118	44
3150 NE 206th Pl	0.46mi	3/2.0 (+1)	1,533 (+14%)	9mo	$355,000	$232	43

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: 47.9%
• Equity multiple: 3.00×
• Total profit: $44,690
• Equity at exit: $11,928

10-year hold

• IRR: 52.3%
• Equity multiple: 5.42×
• Total profit: $99,041
• Equity at exit: $6,917

Cash invested: $22,400 (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 97024

• Home prices YoY: -20.3%
• Rents YoY: -1.0%
• Active inventory: 54
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,863 high
• Mortgage (P&I): −$420
• Tax from tax record: −$27 /mo · $329/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$391
• Net cashflow: $991

Break-even live

Break-even rent $608

Max offer price $79,999

Occupancy floor 42%

Sensitivity live

Price	-10% $1,036	-5% $1,014	+0% $991	+5% $969	+10% $946
Rent	-10% $844	-5% $918	+0% $991	+5% $1,065	+10% $1,138
Rate	-1.0pp $1,031	-0.5pp $1,012	base $991	+0.5pp $970	+1.0pp $949

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2667 NE 205th Ave Fairview, OR	3.0	2.0	1115	$1,950	$1.75	25d	1	0.35mi
20454 NE Sandy Blvd Fairview, OR	2.0	2.0	950	$1,450	$1.53	5d	4	0.38mi
20454 NE Sandy Blvd Apt B26 Fairview, OR	2.0	2.0	950	$1,722	$1.81	22d	7	0.39mi
21123 NE Osburn Loop Unit 21123 Fairview, OR	3.0	2.5	1586	$2,595	$1.64	6d	1	0.46mi
609 Lincoln St Unit 609 Fairview, OR	3.0	2.5	1100	$2,250	$2.05	45d	1	0.47mi
22199 NE Sandy Blvd Fairview, OR	2.0	1.0–2.0	707	$2,200	$3.11	5d	27	0.53mi
20347 NE Halsey St Fairview, OR	2.0	2.0	985	$1,614	$1.64	5d	2	0.55mi
320 Lincoln St Fairview, OR	2.0	1.0	950	$1,395	$1.47	45d	1	0.59mi
22100 NE Halsey St Fairview, OR	1.0–3.0	1.0–2.0	1003	$1,947	$1.94	5d	10	0.63mi
1497 NE Market Dr Fairview, OR	2.0	2.0	1136	$1,750	$1.54	45d	1	0.64mi
21933 NE Chinook Way Fairview, OR	1.0–3.0	1.0–2.5	874	$1,802	$2.06	3d	8	0.65mi
22025 NE Halsey St Fairview, OR	1.0–2.0	1.0–2.0	841	$1,795	$2.13	12d	1	0.66mi
21958 NE Chinook Way Apt C Fairview, OR	1.0	1.0	950	$1,250	$1.32	45d	1	0.70mi
19927 NE Halsey St Unit 103 Portland, OR	3.0	2.5	1225	$1,895	$1.55	45d	1	0.70mi
22032 NE Chinook Way Apt A Fairview, OR	2.0	2.5	1150	$1,995	$1.73	45d	1	0.74mi
22032 NE Chinook Way Unit B Fairview, OR	2.0	2.5	1150	$2,045	$1.78	9d	1	0.74mi
19849 NE Halsey St Unit 110 Portland, OR	3.0	2.0	895	$1,870	$2.09	19d	1	0.74mi
3794 NE Fairview Lake Way Fairview, OR	3.0	2.0	1611	$2,795	$1.73	23d	1	0.75mi
22620 NE Hancock St Fairview, OR	2.0	2.0	1196	$1,995	$1.67	23d	1	0.80mi
19511 NE Halsey St Portland, OR	2.0	1.0	917	$1,395	$1.52	5d	1	0.88mi
22701 NE Halsey St Unit FO1101 Fairview, OR	2.0	2.0	965	$1,511	$1.57	25d	1	0.91mi
22701 NE Halsey St Unit FO222 Fairview, OR	2.0	2.0	965	$1,511	$1.57	45d	1	0.91mi
20121 SE Stark St Portland, OR	1.0–3.0	1.0–2.0	873	$1,714	$1.96	4d	5	1.39mi
23901 NE Halsey St Wood Village, OR	2.0–3.0	1.0–2.0	1012	$1,395	$1.38	16d	4	1.42mi
23801 NE Treehill Dr Wood Village, OR	3.0	2.0	1800	$2,200	$1.22	45d	1	1.43mi
19316 NE Couch St Portland, OR	3.0	2.0	1325	$2,495	$1.88	0d	1	1.44mi

Listing history 22 events

1. 2026-06-21
   days on market $79,999 Active 661 DOM
2. 2026-06-18
   days on market $79,999 Active 658 DOM
3. 2026-06-17
   days on market $79,999 Active 657 DOM
4. 2026-06-16
   days on market $79,999 Active 656 DOM
5. 2026-06-15
   days on market $79,999 Active 655 DOM
6. 2026-06-13
   days on market $79,999 Active 653 DOM
7. 2026-06-13
   days on market $79,999 Active 652 DOM
8. 2026-06-09
   days on market $79,999 Active 649 DOM
9. 2026-06-08
   days on market $79,999 Active 648 DOM
10. 2026-06-07
    remarks 678-char remark
11. 2026-06-07
    statusdays on market $79,999 Active 647 DOM
12. 2026-06-02
    statusdays on market $79,999 Pending 646 DOM
13. 2026-06-01
    days on market $79,999 Active 645 DOM
14. 2026-05-31
    days on market $79,999 Active 644 DOM
15. 2026-01-16
    price $79,999 595-char remark

    Show marketing remark (595 chars)

    Located on a dead end and beautifully updated manufactured home in 55+ community. The kitchen was thoughtfully redone with class in mind, the cabinets are bountiful, and it has a newer oven and cooktop. The newer roof will give you peace of mind and the updated plumbing will help keep maintenance, minimal. There is addition living space in the sunroom and the two sheds offer plenty of storage for tools and outdoor furniture; power is in one of them already, allowing for shop tools. There is also a ramp for accessibility and a large, newly done, walk in shower. Don't miss this opportunity!

16. 2025-08-22
    status Active 595-char remark

    Show marketing remark (595 chars)

    Located on a dead end and beautifully updated manufactured home in 55+ community. The kitchen was thoughtfully redone with class in mind, the cabinets are bountiful, and it has a newer oven and cooktop. The newer roof will give you peace of mind and the updated plumbing will help keep maintenance, minimal. There is addition living space in the sunroom and the two sheds offer plenty of storage for tools and outdoor furniture; power is in one of them already, allowing for shop tools. There is also a ramp for accessibility and a large, newly done, walk in shower. Don't miss this opportunity!

17. 2025-07-03
    price $89,999 595-char remark

    Show marketing remark (595 chars)

    Located on a dead end and beautifully updated manufactured home in 55+ community. The kitchen was thoughtfully redone with class in mind, the cabinets are bountiful, and it has a newer oven and cooktop. The newer roof will give you peace of mind and the updated plumbing will help keep maintenance, minimal. There is addition living space in the sunroom and the two sheds offer plenty of storage for tools and outdoor furniture; power is in one of them already, allowing for shop tools. There is also a ramp for accessibility and a large, newly done, walk in shower. Don't miss this opportunity!

18. 2025-05-08
    price $99,999 595-char remark

    Show marketing remark (595 chars)

    Located on a dead end and beautifully updated manufactured home in 55+ community. The kitchen was thoughtfully redone with class in mind, the cabinets are bountiful, and it has a newer oven and cooktop. The newer roof will give you peace of mind and the updated plumbing will help keep maintenance, minimal. There is addition living space in the sunroom and the two sheds offer plenty of storage for tools and outdoor furniture; power is in one of them already, allowing for shop tools. There is also a ramp for accessibility and a large, newly done, walk in shower. Don't miss this opportunity!

19. 2025-02-01
    price $105,999 595-char remark

    Show marketing remark (595 chars)

    Located on a dead end and beautifully updated manufactured home in 55+ community. The kitchen was thoughtfully redone with class in mind, the cabinets are bountiful, and it has a newer oven and cooktop. The newer roof will give you peace of mind and the updated plumbing will help keep maintenance, minimal. There is addition living space in the sunroom and the two sheds offer plenty of storage for tools and outdoor furniture; power is in one of them already, allowing for shop tools. There is also a ramp for accessibility and a large, newly done, walk in shower. Don't miss this opportunity!

20. 2024-11-14
    price $116,499 595-char remark

    Show marketing remark (595 chars)

    Located on a dead end and beautifully updated manufactured home in 55+ community. The kitchen was thoughtfully redone with class in mind, the cabinets are bountiful, and it has a newer oven and cooktop. The newer roof will give you peace of mind and the updated plumbing will help keep maintenance, minimal. There is addition living space in the sunroom and the two sheds offer plenty of storage for tools and outdoor furniture; power is in one of them already, allowing for shop tools. There is also a ramp for accessibility and a large, newly done, walk in shower. Don't miss this opportunity!

21. 2024-09-26
    price $116,999 595-char remark

    Show marketing remark (595 chars)

    Located on a dead end and beautifully updated manufactured home in 55+ community. The kitchen was thoughtfully redone with class in mind, the cabinets are bountiful, and it has a newer oven and cooktop. The newer roof will give you peace of mind and the updated plumbing will help keep maintenance, minimal. There is addition living space in the sunroom and the two sheds offer plenty of storage for tools and outdoor furniture; power is in one of them already, allowing for shop tools. There is also a ramp for accessibility and a large, newly done, walk in shower. Don't miss this opportunity!

22. 2024-08-17
    listed $117,500 Active 595-char remark

    Show marketing remark (595 chars)

    Located on a dead end and beautifully updated manufactured home in 55+ community. The kitchen was thoughtfully redone with class in mind, the cabinets are bountiful, and it has a newer oven and cooktop. The newer roof will give you peace of mind and the updated plumbing will help keep maintenance, minimal. There is addition living space in the sunroom and the two sheds offer plenty of storage for tools and outdoor furniture; power is in one of them already, allowing for shop tools. There is also a ramp for accessibility and a large, newly done, walk in shower. Don't miss this opportunity!

ⓘ 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: $329 · $27/mo
• Projected year-2 tax: $776 · $65/mo
• Expected delta: +$447/yr (+$37/mo · 135.9%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 14 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,351
• − Mortgage interest: −$4,481
• − Property taxes: −$329
• − Insurance: −$400
• − Repairs & maintenance: −$1,788
• − Management: −$1,788
• − Depreciation: −$2,327
• Taxable income: $11,237
• Est. tax owed @ 24.0%: −$2,697
• After-tax cash flow: $9,197/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: Reynolds SD 7
• NCES district ID: 4110520
• Math proficiency: 21% ▬ 0.00%
• Reading proficiency: 36% ▬ 0.00%
• Median HH income: $45,502
• Composite: 27.4/100
• National rank: #12399
• State rank: #162 of 183 in OR

Livability — Fairview

• Score: 75/100
• State rank: #85
• US rank: #4103

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fairview, OR
• County: Multnomah County · 786,692 people
• City population: 12,007
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 12,007
• Household income: $69,679
• Rent vs Own: 53.9% rent · 46.1% own
• Severe rent burden: 552.0

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 0.68)
• Race & ethnicity: White 48% Hispanic / Latino 27% Two or more races 15% Black 12% Pacific Islander 3% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 24%
• Common ancestry: Portuguese 3% Italian 3% Lithuanian 3%
• Foreign-born: 16% · Canada, Guatemala, Vietnam
• Languages at home: 69% English-only · Spanish 23% Other Asian/Pacific 3% Russian/Polish/Slavic 1%

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: ▼ -72.88%
• Current HPI: 286.4915
• Rent YoY: ▼ -0.99%
• 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

-31.9% since first listed

8 events — show timeline

• 2026-01-16 Price Changed $79,999 RMLS
• 2025-08-22 Relisted — RMLS
• 2025-07-03 Price Changed $89,999 RMLS
• 2025-05-08 Price Changed $99,999 RMLS
• 2025-02-01 Price Changed $105,999 RMLS
• 2024-11-14 Price Changed $116,499 RMLS
• 2024-09-26 Price Changed $116,999 RMLS
• 2024-08-17 Listed $117,500 RMLS

Property tax history

-1.8%/yr

Latest (2016): $329 · +11.9% YoY. Source: county tax records.