2710 SE Courtney Ave #27 · Oak Grove, OR 97222

$25,000

2 bd · 1.0 ba · 670 sqft · Other · 3 Days on market

Built 1995 $680/mo HOA · 44% of rent

---

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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.2/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Looking for your next project? This 2 bedroom, 1 bath manufactured home in Milwaukie is packed with potential. The home needs cosmetic updates and provides a great opportunity to build sweat equity or complete a profitable renovation. Whether you're an investor searching for your next flip or a buyer looking for an affordable project, this property is worth a look.

Key facts

• Built 1995
• Listed 3 days

Property features AI

Finance

• Other: Unit size approximately 48 ft by 14 ft; Lot rent $680 per month; Located at 2710 SE Courtney Ave #27, Portland, OR 97222
• HOA & community: Park management provides water, sewer, trash, road maintenance; Monthly park/association fee of $680; Located in a senior community (Flamingo Mobile Manor)

Exterior

• Parking: Carport
• Utilities: Electricity; Public water; Public sewer
• Home design: Manufactured home in a park; Residential property; Single-story; No significant view
• Construction: Built in 1995; Composition roof; Seller-provided building area information
• Exterior features: Aluminum exterior

Interior

• Kitchen: Kitchen
• Bedrooms: Primary bedroom (main level); Second bedroom
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Washer and dryer included; Living room; Family room; Great room; Dining room
• Laundry & utility: Washer/Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $25k.

Deal economics

• At list price, monthly cash flow is $383 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $25k).
• Cap rate 24.7% vs local median 2.7% in Oak Grove — 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 84/100 on livability (#37 in OR, #832 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: cost of living F.
• North Clackamas SD 12 (suburban): math 29% / reading 43% proficiency, ranked #22 of 58 in OR (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Oak Grove Elementary (math 10% / reading 30%, grade F, #358 of 412 statewide, top 89%, 283 students, 76% FRL); Alder Creek Middle School (math 13% / reading 36%, grade F, #108 of 128 statewide, top 89%, 846 students, 49% FRL); Putnam High School (math 34% / reading 74%, grade C-, #30 of 143 statewide, top 20%, 1,106 students, 38% FRL) — zoned schools average 54% FRL vs 34% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.8%/yr); 139 active listings in the ZIP; 21 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; 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 $173 of loan paydown is wiped out by about $750 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $7k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: HOA is 44% of rent.

Recommended offer $25,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 6.21% ✓
• Cap rate: 24.67%
• Cash-on-cash: 65.63%
• DSCR: 3.92
• GRM: 1.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 57.7%
• Equity multiple: 3.32×
• Total profit: $16,221
• Equity at exit: $3,728

10-year hold

• IRR: 60.2%
• Equity multiple: 5.25×
• Total profit: $29,719
• Equity at exit: $2,162

Cash invested: $7,000 (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 97222

• Rents YoY: -0.8%
• Active inventory: 139
• Price-to-rent: 1.3×

Monthly cashflow live

• Estimated rent: $1,552 high
• Mortgage (P&I): −$131
• Tax from tax record: −$21 /mo · $257/yr
• Insurance: −$10
• HOA: −$680
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $383

Break-even live

Break-even rent $1,067

Max offer price $25,000

Occupancy floor 70%

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2600 SE Courtney Ave Portland, OR	1.0	1.0	600	$1,378	$2.30	23d	3	0.11mi
2295 SE Courtney Ave Portland, OR	1.0	1.0	727	$1,195	$1.64	3d	1	0.27mi
13500 SE Linden Ln Portland, OR	2.0	1.0	750	$1,500	$2.00	23d	1	0.32mi
12601 SE River Rd Portland, OR	2.0	1.0	697	$1,870	$2.68	1d	4	0.85mi
12200 SE McLoughlin Blvd Portland, OR	2.0	1.0–2.0	708	$2,145	$3.03	1d	9	0.88mi
12425 SE River Rd Portland, OR	1.0–2.0	1.0	803	$1,550	$1.93	3d	2	0.90mi
11850 SE 26th Ave Unit 110 Milwaukie, OR	2.0	1.0	740	$1,525	$2.06	17d	1	1.12mi
11850 SE 26th Ave Unit 217 Milwaukie, OR	2.0	1.0	740	$1,425	$1.93	43d	1	1.12mi
11850 SE 26th Ave Unit 315 Milwaukie, OR	2.0	1.0	740	$1,475	$1.99	43d	1	1.12mi
11363 SE 27th Ave Milwaukie, OR	1.0	1.0	580	$1,300	$2.24	23d	1	1.36mi
11345 SE 27th Ave Unit 11349 Milwaukie, OR	1.0	1.0	580	$1,300	$2.24	10d	1	1.38mi
11345 SE 27th Ave Unit 11363 Milwaukie, OR	1.0	1.0	580	$1,300	$2.24	23d	1	1.38mi
11349 SE 27th Ave Milwaukie, OR	1.0	1.0	580	$1,300	$2.24	12d	1	1.38mi
199 E Ave Lake Oswego, OR	1.0	1.0	685	$1,550	$2.26	23d	3	1.44mi
11233 SE 27th Ave Unit 121-102 Milwaukie, OR	1.0	1.0	680	$1,295	$1.90	23d	1	1.45mi
11233 SE 27th Ave Unit 12101-A Milwaukie, OR	1.0	1.0	576	$1,195	$2.07	23d	1	1.45mi
130 A Ave Lake Oswego, OR	1.0–2.0	1.0–2.5	1154	$5,200	$4.50	1d	12	1.45mi
130 A Ave Lake Oswego, OR	1.0–3.0	1.0–2.5	1174	$5,142	$4.38	43d	17	1.45mi
50 Northshore Rd Lake Oswego, OR	1.0	1.0	650	$1,250	$1.92	43d	1	1.48mi
11125 SE 21st Ave Apt 326 Milwaukie, OR	1.0	1.0	674	$1,672	$2.48	43d	1	1.49mi
11125 SE 21st Ave Unit 312 Milwaukie, OR	1.0	1.0	616	$1,499	$2.43	43d	1	1.49mi

HOA detail

• Monthly dues: $680 · $8,160/yr

Listing history 4 events

1. 2026-06-18
   days on market $25,000 Active 3 DOM
2. 2026-06-17
   days on market $25,000 Active 2 DOM
3. 2026-06-16
   remarks 367-char remark
4. 2026-06-16
   listed $25,000 Active 1 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: $257 · $21/mo
• Projected year-2 tax: $257 · $21/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 18 unhealthy d/yr today · 20 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,620
• − Mortgage interest: −$1,400
• − Property taxes: −$257
• − Insurance: −$125
• − Repairs & maintenance: −$1,490
• − Management: −$1,490
• − HOA: −$8,160
• − Depreciation: −$727
• Taxable income: $4,971
• Est. tax owed @ 24.0%: −$1,193
• After-tax cash flow: $3,401/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: North Clackamas SD 12
• NCES district ID: 4108830
• Math proficiency: 29% ▼ -14.00%
• Reading proficiency: 43% ▼ -13.00%
• Median HH income: $60,217
• Composite: 32.1/100
• National rank: #5807
• State rank: #22 of 58 in OR

Livability — Oak Grove

• Score: 84/100
• State rank: #37
• US rank: #832

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oak Grove, OR
• County: Clackamas County · 361,406 people
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 36,398
• Household income: $83,119
• Rent vs Own: 43.7% rent · 56.3% own
• Severe rent burden: 1823.0

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 13% Two or more races 12% Asian 3% Black 1%
• Hispanic origin (detail): Mexican 8% Puerto Rican 1%
• Common ancestry: Slovak 3% Italian 3% Portuguese 3%
• Foreign-born: 7% · Canada
• Languages at home: 89% English-only · Spanish 6% Russian/Polish/Slavic 2% Arabic 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: ▼ -447.07%
• Current HPI: 306.8458
• Rent YoY: ▼ -0.82%
• 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

1 event — show timeline

• 2026-06-12 Listed $25,000 RMLS

Property tax history

+3.4%/yr

Latest (2018): $257 · +14.9% YoY. Source: county tax records.