8750 SE 155th Ave Unit 23B · Happy Valley, OR 97086

$130,000

2 bd · 2.0 ba · 924 sqft · Manufactured · 6 Days on market

Built 1996 Good condition Est $90k · 45% over

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Why this score? — see what drove the C+ 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Schools +3.5/10.0
• Rent growth +3.0/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to quaint Happy Valley Mobile Park! This lovely all-ages community is nestled among the trees, offering a peaceful setting while keeping all of Happy Valley's amenities close at hand. This refreshed two-bedroom, two-bathroom home features a bright, open floor plan filled with natural light. An updated kitchen offers newer countertops and appliances. Two spacious bedrooms are complemented by two full bathrooms. Current updates include a brand new water heater, recently installed carpet and new trex deck in the front. Step outside to a serene backyard retreat that backs to trees, creating a private and peaceful setting. Enjoy the sights and sounds of nature from the deck, cultivate yo

Key facts

• 15x9 shop
• Raised beds
• New water heater

Tags

• UPDATED KITCHEN
• NEW WATER HEATER
• NEW TREX DECK
• SERENE BACKYARD RETREAT
• RAISED BEDS
• 15X9 SHOP

Property features AI

Finance

• Other: Land lease expires June 19, 2027
• Financial info: Monthly lot rent for the park
• HOA & community: Park management; Pet restrictions in effect; Located in Happy Valley Mobile Park (land lease community)

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; Electric service
• Home design: Manufactured home in a park (residential); Main living area on a single level; Views of trees/woods
• Construction: Built in 1996; Skirting foundation; Composition roof
• Exterior features: Deck; Patio; Fenced yard; Garden areas with raised beds; Outbuilding; Workshop; Yard; T-111 siding

Interior

• Kitchen: Dishwasher; Free‑standing range; Free‑standing refrigerator; Range hood
• Bedrooms: Primary bedroom on main level with closet and laminate flooring; Second bedroom on main level with closet and laminate flooring
• Flooring: Laminate flooring; Wall-to-wall carpet
• Bathrooms: Two full bathrooms (both on main level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Laminate flooring; Wall-to-wall carpet; Laundry area with exterior entry; Washer and dryer included; Vinyl window frames; Crawl space basement
• Laundry & utility: Main-level laundry with washer and dryer and exterior entry; Electric hot water

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $130k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $914 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Cap rate 14.7% vs local median 2.5% in Happy Valley — 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 76/100 on livability (#76 in OR, #3,386 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, cost of living F.
• Centennial SD 28J (suburban): math 31% / reading 43% proficiency, ranked #125 of 183 in OR (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pleasant Valley Elementary School (299 students, 68% FRL); Centennial Middle School (876 students, 68% FRL); Centennial High School (1,756 students, 65% FRL).
• Market conditions: Rents rising (+1.9%/yr); 344 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $899 of loan paydown is wiped out by about $4k 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 + 1.9% rent growth), your $36k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $130,000

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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.76% ✓
• Cap rate: 14.73%
• Cash-on-cash: 30.13%
• DSCR: 2.34
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $89,628
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8750 SE 155th Ave #53	0.00mi	2/2.0	924 (0%)	2mo	$59,000	$64	98
8750 SE 155th Ave #17	0.14mi	2/2.0	930 (+1%)	12mo	$89,900	$97	82
8750 SE 155th Ave Unit 23A	0.00mi	2/1.0	924 (0%)	22mo	$89,900	$97	78
8750 SE 155th Ave #43	0.14mi	2/2.0	859 (-7%)	22mo	$124,000	$144	63
8750 SE 155th Ave #12	0.00mi	3/2.0 (+1)	1,056 (+14%)	23mo	$139,000	$132	52

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 · 1.89% rent growth · sell at horizon

5-year hold

• IRR: 23.5%
• Equity multiple: 1.95×
• Total profit: $34,643
• Equity at exit: $19,383

10-year hold

• IRR: 30.7%
• Equity multiple: 3.61×
• Total profit: $95,090
• Equity at exit: $11,240

Cash invested: $36,400 (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 97086

• Rents YoY: 1.9%
• Active inventory: 344
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $2,294 medium
• Mortgage (P&I): −$682
• Tax est. 1.5%: −$162 /mo · $1,950/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$482
• Net cashflow: $914

Break-even live

Break-even rent $1,137

Max offer price $130,000

Occupancy floor 55%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12927 SE Ridgecrest Rd Happy Valley, OR	2.0	1.0	842	$2,395	$2.84	23d	1	1.29mi
12929 SE Ridgecrest Rd Happy Valley, OR	2.0	1.0	842	$2,395	$2.84	43d	1	1.29mi
12917 SE Ridgecrest Rd Happy Valley, OR	2.0	1.0	842	$2,295	$2.73	43d	1	1.30mi
11386 SE Pleasant Valley Pkwy Happy Valley, OR	1.0–2.0	1.0–2.0	1001	$2,855	$2.85	1d	17	1.41mi

Listing history 6 events

1. 2026-06-18
   days on market $130,000 Active 6 DOM
2. 2026-06-17
   days on market $130,000 Active 5 DOM
3. 2026-06-16
   days on market $130,000 Active 4 DOM
4. 2026-06-15
   days on market $130,000 Active 3 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $130,000 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥91°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 23 unhealthy d/yr today · 27 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,529
• − Mortgage interest: −$7,282
• − Property taxes: −$1,950
• − Insurance: −$650
• − Repairs & maintenance: −$2,202
• − Management: −$2,202
• − Depreciation: −$3,782
• Taxable income: $9,460
• Est. tax owed @ 24.0%: −$2,271
• After-tax cash flow: $8,697/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 · 12 photos

Good 75/100 Cosmetic rehab

This well-maintained mobile home in Happy Valley offers a good condition with updated kitchen and bathrooms, and a serene backyard setting.

Value-add opportunities

• Resale paint exterior — enhances curb appeal
• Resale replace Trex deck — improves curb appeal and durability

Renovation cost estimate screening

Value-add ROI direction

• Resale paint exterior — enhances curb appeal ↑
• Resale replace Trex deck — improves curb appeal and durability ↑

ⓘ 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: Centennial SD 28J
• NCES district ID: 4102800
• Math proficiency: 31% ▼ -2.00%
• Reading proficiency: 43% ▼ -2.00%
• Median HH income: $49,619
• Composite: 34.5/100
• National rank: #10133
• State rank: #125 of 183 in OR

Livability — Happy Valley

• Score: 76/100
• State rank: #76
• US rank: #3386

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Happy Valley, OR
• County: Clackamas County · 361,406 people
• City population: 34,567
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 34,567
• Household income: $102,359
• Rent vs Own: 37.3% rent · 62.7% own
• Severe rent burden: 1281.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 63% Asian 17% Two or more races 12% Hispanic / Latino 9% Black 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 4% Portuguese 4% Lithuanian 2%
• Foreign-born: 18% · Canada, Vietnam, China
• Languages at home: 79% English-only · Spanish 5% Vietnamese 3% Chinese 3%

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: ▼ -279.06%
• Current HPI: 261.5208
• Rent YoY: ▲ 1.89%
• 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 $130,000 RMLS