10010 SW Hall Blvd #3 · Metzger, OR 97223

$139,900

2 bd · 1.0 ba · 776 sqft · Condo public records · 29 Days on market

Built 1979 $495/mo HOA · 31% of rent

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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 +8.8/30.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Schools +4.9/10.0
• Livability +4.4/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Great first-time affordable home—or investment with upside. Two good-size bedrooms, one bathroom, dining area, and living room open to a bright kitchen and new patio slider leading to a sunny back deck. The deck overlooks sweeping lawns, a creek and walking bridge that connect directly to Metzger Park—perfect for dog walks, coffee runs, and easy access to shops, eateries and parks. Fresh interior paint, simple layout, and space to build equity. Laundry room, Assigned parking spot with many visitor spots. Bus line. easy access to all that's great.

Key facts

• Bright kitchen
• Living room
• Dining area

Tags

• DINING AREA
• LIVING ROOM
• BRIGHT KITCHEN
• NEW PATIO SLIDER
• SUNNY BACK DECK
• SWEEPING LAWNS

Property features AI

Finance

• Other: Condominium deck area approximately 39 sq ft; Unit located on main level
• Financial info: Condominium parking assigned monthly at no additional cost
• HOA & community: Monthly HOA fee (listed monthly); HOA covers exterior electricity, water, sewer, trash, grounds maintenance, exterior insurance and taxes; Community landscaping and common area maintenance included; Laundry service listed as an association amenity; 32 units in the condominium complex; Condominium allows up to two pets (see remarks)

Exterior

• Parking: Deeded parking pad (assigned space #3); Deeded garage type listed for complex
• Security: Sidewalks on property (security/grounds feature)
• Utilities: Public water; Public sewer; Electric hot water and electric fuel
• Home design: Residential condominium, detached; One-level floor plan (unit on main level); Three total stories in building; Resale condition; Views of creek/stream, park/greenbelt and territorial vistas
• Construction: Built in 1979; Wood siding exterior; Composition/shingle roof; Slab foundation
• Exterior features: Covered deck; Deck (approx. 5' x 7'8"); Yard; Private setting with greenbelt; Hike-only access nearby; Stream/creek on property (Ash Creek); Level lot; Paved road access

Interior

• Kitchen: Dishwasher; Free-standing range; Free-standing refrigerator; Range hood; Solid surface countertops
• Bedrooms: Primary bedroom on the main level; Second bedroom on the main level
• Flooring: Vinyl; Carpet
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Baseboard heating; Zoned heating; No central cooling
• Interior features: Natural lighting accessibility features; Vinyl flooring; Wall-to-wall carpet; Aluminum-framed windows
• Laundry & utility: Condominium laundry available (pay-for-use)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $140k.

Deal economics

• At list price, monthly cash flow is $-114 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $120k (14.4% below list).
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $120k (14.4% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 88/100 on livability (#8 in OR, #195 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+; Watch: cost of living F.
• Tigard-Tualatin SD 23J (suburban): math 47% / reading 65% proficiency, ranked #6 of 58 in OR (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Metzger Elementary School (math 30% / reading 70%, grade D+, #100 of 412 statewide, top 26%, 518 students, 41% FRL); Thomas R Fowler Middle School (math 44% / reading 64%, grade B-, #23 of 128 statewide, top 17%, 775 students, 34% FRL); Tigard High School (math 24% / reading 75%, grade D+, #32 of 143 statewide, top 34%, 1,799 students, 31% FRL) — zoned schools at 35% FRL track the district average.
• Market conditions: Rents rising (+1.9%/yr); 217 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $967 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $40k; list at $140k implies a 250% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 31% of rent.

Recommended offer $119,709 (14.4% 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. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.15% ✓
• Cap rate: 5.31%
• Cash-on-cash: -3.50%
• DSCR: 0.84
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.93% rent growth · sell at horizon

5-year hold

• IRR: -23.7%
• Equity multiple: 0.20×
• Total profit: $-31,384
• Equity at exit: $20,860

10-year hold

• IRR: -22.7%
• Equity multiple: -0.08×
• Total profit: $-42,452
• Equity at exit: $12,096

Cash invested: $39,172 (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 97223

• Rents YoY: 1.9%
• Active inventory: 217
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,613 high
• Mortgage (P&I): −$734
• Tax from tax record: −$102 /mo · $1,220/yr
• Insurance: −$58
• HOA: −$495
• Vacancy / Maint / Mgmt: −$339
• Net cashflow: $-114

Break-even live

Break-even rent $1,758

Max offer price $119,709

Occupancy floor —

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9905 SW Hall Blvd Apt 8 Portland, OR	2.0	1.0	900	$1,200	$1.33	43d	1	0.04mi
10025 SW 85th Ave Portland, OR	2.0–3.0	1.0	825	$1,314	$1.59	43d	1	0.05mi
9735 SW Hall Blvd Portland, OR	1.0	1.0	660	$1,362	$2.06	4d	7	0.11mi
8775 SW Locust St Apt 14 Tigard, OR	2.0	2.0	1097	$1,595	$1.45	43d	1	0.15mi
9550 SW Washington Dr Unit 17 Portland, OR	2.0	1.0	750	$1,395	$1.86	43d	1	0.18mi
9555 SW Hall Blvd Unit 17 Portland, OR	2.0	1.0	832	$1,395	$1.68	12d	1	0.19mi
9555 SW Hall Blvd Unit 22 Portland, OR	1.0	1.0	633	$1,295	$2.05	12d	1	0.19mi
9550 SW Washington Dr Apt 5 Portland, OR	2.0	1.0	750	$1,595	$2.13	43d	1	0.20mi
9550 SW Washington Dr Unit 29 Portland, OR	2.0	1.0	750	$1,525	$2.03	43d	1	0.21mi
9568 SW 91st Ave Portland, OR	2.0	2.5	1018	$2,500	$2.46	12d	1	0.32mi
8920 SW Oak St Tigard, OR	2.0	1.0–2.0	912	$3,253	$3.57	1d	13	0.33mi
9380 SW 80th Ave Unit C Portland, OR	2.0	1.0	950	$1,495	$1.57	43d	1	0.42mi
9500 SW Greenburg Rd Portland, OR	2.0	1.0	855	$1,574	$1.84	23d	4	0.47mi
9520 SW Greenburg Rd Tigard, OR	1.0–2.0	1.0–2.0	815	$1,800	$2.21	15d	2	0.47mi
9350 SW Hall Blvd Portland, OR	1.0–2.0	1.0–1.5	728	$1,400	$1.92	23d	6	0.47mi
9060 SW Oleson Rd Portland, OR	1.0–2.0	1.0	767	$1,628	$2.12	4d	7	0.53mi
11157 SW Hall Blvd Tigard, OR	2.0	1.0	850	$1,512	$1.78	43d	1	0.58mi
8780 SW Washington Dr Portland, OR	2.0	1.0	864	$2,395	$2.77	43d	1	0.59mi
8585 SW Pfaffle St Unit 852504 Tigard, OR	2.0	2.0	930	$1,595	$1.72	43d	1	0.67mi
8991 SW Herb Way Portland, OR	3.0	3.0	1100	$2,095	$1.90	43d	1	0.75mi
8376 SW Pfaffle St Tigard, OR	1.0–2.0	1.0–2.0	774	$1,835	$2.37	3d	5	0.78mi
7705 SW Pfaffle St Tigard, OR	1.0	1.0	512	$1,200	$2.34	43d	3	0.81mi
9655 SW North Dakota St Portland, OR	2.0	1.0	810	$1,662	$2.05	4d	2	0.82mi
11555 SW 88th Ave Portland, OR	1.0–3.0	1.0–1.5	764	$1,574	$2.06	3d	16	0.85mi
11200 SW Greenburg Rd Apt 34 Portland, OR	2.0	1.0	870	$1,600	$1.84	22d	1	0.85mi
11200 SW Greenburg Rd Portland, OR	2.0	1.0	850	$1,500	$1.76	20d	1	0.85mi
11044 SW Greenburg Rd #321 Portland, OR	1.0	1.0	596	$1,995	$3.35	43d	1	0.86mi
10735 SW 69th Ave Unit 18 Portland, OR	2.0	1.0	825	$1,495	$1.81	17d	1	0.89mi
10735 SW 69th Ave Portland, OR	2.0	1.0	825	$1,495	$1.81	43d	1	0.89mi
9800 SW North Dakota St Portland, OR	2.0	1.0–1.5	883	$1,434	$1.62	15d	2	0.90mi
9900 SW North Dakota St Tigard, OR	1.0–2.0	1.0	838	$1,775	$2.12	1d	1	0.91mi
9050 SW Washington Square Rd Portland, OR	1.0–2.0	1.0	850	$1,595	$1.88	3d	6	0.91mi
11575 SW Greenburg Rd Unit 08 Tigard, OR	1.0	1.0	575	$1,300	$2.26	20d	1	0.93mi
11575 SW Greenburg Rd Unit 08 Tigard, OR	1.0	1.0	575	$1,300	$2.26	23d	1	0.93mi
8835 SW Brightfield Cir Unit 1 Portland, OR	1.0	1.0	726	$1,195	$1.65	3d	1	0.93mi
11485 SW Greenburg Rd Unit 372-03 Tigard, OR	2.0	1.0	896	$1,595	$1.78	43d	1	0.94mi
11485 SW Greenburg Rd Unit 372-08 Tigard, OR	2.0	1.0	896	$1,470	$1.64	43d	1	0.94mi
11445 SW Greenburg Rd Unit 4 Tigard, OR	2.0	1.5	1050	$1,499	$1.43	12d	1	0.96mi
8803 SW Brightfield Cir Portland, OR	2.0	1.0	916	$1,540	$1.68	43d	1	0.96mi
11445 SW Greenburg Rd Portland, OR	2.0	1.5	1050	$1,549	$1.48	16d	2	0.97mi

HOA detail condo

• Monthly dues: $495 · $5,940/yr
• Likely covers: parking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2026-05-01
   status Pending
2. 2026-04-08
   price $139,900
3. 2026-04-01
   listed $149,900 Active
4. 2002-05-20
   soldstatus $40,000

ⓘ 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: $1,220 · $102/mo
• Projected year-2 tax: $1,357 · $113/mo
• Expected delta: +$137/yr (+$11/mo · 11.2%)

ⓘ 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 ≥91°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 12 unhealthy d/yr today · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,357
• − Mortgage interest: −$7,837
• − Property taxes: −$1,220
• − Insurance: −$700
• − Repairs & maintenance: −$1,549
• − Management: −$1,549
• − HOA: −$5,940
• − Depreciation: −$4,070
• Taxable loss: −$3,506
• Est. tax savings @ 24.0%: +$842
• After-tax cash flow: $-530/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: Tigard-Tualatin SD 23J
• NCES district ID: 4112240
• Math proficiency: 47% ▼ -3.00%
• Reading proficiency: 65% ▲ 3.00%
• Median HH income: $60,739
• Composite: 48.72/100
• National rank: #2100
• State rank: #6 of 58 in OR

Livability — Metzger

• Score: 88/100
• State rank: #8
• US rank: #195

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Metzger, OR
• County: Washington County · 583,254 people
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 50,527
• Household income: $106,757
• Rent vs Own: 39.2% rent · 60.8% own
• Severe rent burden: 2103.0

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: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 14% Two or more races 11% Asian 8% Black 1% Native American 1%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Portuguese 3% Italian 3% Slovak 3%
• Foreign-born: 13% · Canada, China, Vietnam
• Languages at home: 81% English-only · Spanish 8% Other Indo-European 3% Other Asian/Pacific 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: ▼ -466.07%
• Current HPI: 307.2423
• Rent YoY: ▲ 1.93%
• 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

+249.8% since first listed

4 events — show timeline

• 2026-05-01 Pending — RMLS
• 2026-04-08 Price Changed $139,900 RMLS
• 2026-04-01 Listed $149,900 RMLS
• 2002-05-20 Sold (Public Records) $40,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $1,220 · +10.4% YoY. Source: county tax records.