12450 SW Fischer Rd #134 · King City, OR 97224

$165,000

3 bd · 2.0 ba · 1,434 sqft · Manufactured public records · 139 Days on market

Built 2017

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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 +29.4/30.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Schools +4.9/10.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Stunning custom home that has been has the best of everything. The photos speak for themselves on this beautiful Champion built home.Elegantly appointed with clean lines and crisp white cabinetry.The living room is lovely & inviting.This is the ideal home to host your friends &family or relax in the openness of the living areas.Large master with spacious bedroom and closet!Close to walking trails,parks & shopping.Truly one of the most beautiful home with a livability price point.$874 space rent

Key facts

• Open floorplan
• Tons of amenities
• Back patio

Tags

• DOUBLE-WIDE MANUFACTURED HOME
• OPEN FLOORPLAN
• STAINLESS STEEL APPLIANCES
• BACK PATIO
• TONS OF AMENITIES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $165k.

Deal economics

• At list price, monthly cash flow is $586 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $145k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 2.7% in King City — 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 85/100 on livability (#24 in OR, #539 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, housing A+.
• 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: Alberta Rider Elementary School (math 24% / reading 75%, grade D+, #100 of 412 statewide, top 26%, 504 students, 22% FRL); Twality Middle School (math 54% / reading 64%, grade B, #17 of 128 statewide, top 14%, 918 students, 31% FRL); Tualatin High School (math 75% / reading 75%, grade A-, #2 of 143 statewide, top 6%, 1,747 students, 25% FRL) — zoned schools at 26% FRL track the district average.
• Market conditions: Rents soft (-0.4%/yr); 412 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $1k of loan paydown is wiped out by about $5k 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 139 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $140k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $145,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 139 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.27% ✓
• Cap rate: 10.56%
• Cash-on-cash: 15.23%
• DSCR: 1.68
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $93,210
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17088 SW Eldorado Dr	0.16mi	2/2.0 (-1)	1,440 (+0%)	2mo	$23,000	$16	86
17123 SW Eldorado Dr	0.23mi	3/2.0	1,568 (+9%)	2mo	$129,985	$83	72
17151 SW Eldorado Dr #85	0.25mi	2/2.0 (-1)	1,344 (-6%)	3mo	$62,000	$46	70
11668 SW Royal Villa Dr #77	0.52mi	2/2.0 (-1)	1,440 (+0%)	3mo	$67,000	$47	68
18485 SW Pacific Dr #64	0.68mi	3/2.0	1,456 (+2%)	4mo	$94,000	$65	63
17188 SW Eldorado Dr #111	0.23mi	2/2.0 (-1)	1,248 (-13%)	1mo	$32,500	$26	62
18485 SW Pacific Dr #53	0.66mi	2/2.0 (-1)	1,440 (+0%)	3mo	$120,000	$83	61
13620 SW Beef Bend Rd #1	0.74mi	3/2.0	1,525 (+6%)	1mo	$199,000	$130	54
18485 SW Pacific Dr #37	0.64mi	3/2.0	1,296 (-10%)	0mo	$85,000	$66	54
11768 SW Royal Villa Dr #124	0.42mi	2/2.0 (-1)	1,248 (-13%)	2mo	$28,000	$22	52
18485 SW Pacific Dr #105	0.73mi	3/2.0	1,568 (+9%)	4mo	$64,995	$41	47
18485 SW Pacific Dr #60	0.72mi	3/2.0	1,620 (+13%)	1mo	$120,000	$74	44

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: 2.6%
• Equity multiple: 1.10×
• Total profit: $4,449
• Equity at exit: $24,602

10-year hold

• IRR: 9.1%
• Equity multiple: 1.61×
• Total profit: $28,178
• Equity at exit: $14,266

Cash invested: $46,200 (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 97224

• Rents YoY: -0.4%
• Active inventory: 412
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $2,095 high
• Mortgage (P&I): −$865
• Tax from tax record: −$135 /mo · $1,615/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$440
• Net cashflow: $586

Break-even live

Break-even rent $1,353

Max offer price $165,000

Occupancy floor 67%

Sensitivity live

Price	-10% $680	-5% $633	+0% $586	+5% $540	+10% $493
Rent	-10% $421	-5% $503	+0% $586	+5% $669	+10% $752
Rate	-1.0pp $669	-0.5pp $628	base $586	+0.5pp $543	+1.0pp $500

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12070 SW Fischer Rd Portland, OR	1.0–3.0	1.0–2.0	925	$2,099	$2.27	2d	9	0.22mi
17865 SW Pacific Hwy Tualatin, OR	1.0–3.0	1.0–2.0	970	$2,242	$2.31	2d	13	0.31mi
16849 SW 131st Ave Portland, OR	2.0	2.0	1029	$1,950	$1.90	15d	1	0.38mi
13060 SW Dickson St Portland, OR	2.0	2.0	1108	$1,850	$1.67	44d	1	0.42mi
16444 SW 130th Ter King City, OR	2.0	2.0	1002	$1,695	$1.69	44d	1	0.43mi
11865 SW Tualatin Rd Tualatin, OR	2.0–3.0	2.0–2.5	1154	$2,737	$2.37	2d	19	0.44mi
16903 SW 133rd Ter Portland, OR	3.0	2.5	1665	$2,845	$1.71	11d	1	0.46mi
10900 SW Gaarde St Unit 273-16 Tigard, OR	2.0	1.0	900	$1,575	$1.75	24d	1	0.47mi
10900 SW Gaarde St Portland, OR	2.0	1.0	825	$1,525	$1.85	8d	4	0.47mi
17979 SW 115th Ave Unit 6 Tualatin, OR	2.0	1.5	1064	$1,625	$1.53	24d	1	0.54mi
17987 SW 115th Ave Unit 1 Tualatin, OR	2.0	1.0	900	$1,475	$1.64	24d	1	0.59mi
17989 SW 115th Ave Tualatin, OR	2.0	1.0–1.5	982	$1,550	$1.58	24d	2	0.60mi
17335 SW Montague Way Portland, OR	3.0	2.5	1687	$3,175	$1.88	2d	1	0.62mi
13830 SW Chinn Ln Portland, OR	1.0–3.0	1.0–2.0	839	$2,100	$2.50	4d	11	0.93mi
15205 SW 119th Ave Portland, OR	2.0	2.0	1650	$2,150	$1.30	21d	1	0.99mi
16055 SW 108th Ave Tigard, OR	1.0–2.0	1.0–2.0	852	$1,940	$2.28	8d	9	1.00mi
11773 SW King George Dr King City, OR	1.0–2.0	1.0–2.0	826	$2,500	$3.03	12d	7	1.02mi
14495 SW Beef Bend Rd Portland, OR	1.0–2.0	1.0–2.0	845	$1,925	$2.28	5d	12	1.06mi
11390 SW Naeve St Tigard, OR	1.0–2.0	1.0–2.0	893	$2,119	$2.37	4d	5	1.20mi
11545 SW Beef Bend Rd Portland, OR	2.0	2.0	935	$1,514	$1.62	3d	1	1.21mi
15199 SW Royalty Pkwy Portland, OR	1.0–3.0	1.0–2.0	884	$2,205	$2.49	2d	12	1.24mi
11430 SW Bull Mountain Rd Tigard, OR	2.0	2.0	986	$1,970	$2.00	4d	6	1.34mi
14799 SW 109th Ave Unit 7504 Tigard, OR	2.0	2.0	986	$1,575	$1.60	24d	1	1.40mi
14799 SW 109th Ave Unit 2502 Tigard, OR	2.0	2.0	986	$1,645	$1.67	44d	1	1.40mi
14799 SW 109th Ave Unit 5702 Tigard, OR	2.0	2.0	986	$1,745	$1.77	22d	1	1.40mi
14799 SW 109th Ave Unit 3102 Tigard, OR	2.0	2.0	986	$1,695	$1.72	8d	1	1.40mi
14844 SW 109th Ave Portland, OR	2.0	1.5	1024	$1,950	$1.90	44d	1	1.41mi
9720 SW Tualatin Rd Tualatin, OR	2.0	2.0	1100	$1,750	$1.59	44d	1	1.41mi
10695 SW Murdock St Tigard, OR	2.0	1.0	793	$1,806	$2.28	2d	13	1.47mi

Listing history 10 events

1. 2026-06-18
   days on market $165,000 Active 139 DOM
2. 2026-06-17
   status $165,000 Active 138 DOM
3. 2026-03-14
   status Pending
4. 2026-01-30
   price $165,000
5. 2026-01-05
   status Active
6. 2025-10-14
   listed $175,000 Active
7. 2021-03-09
   soldstatus $140,000 Sold 512-char remark

   Show marketing remark (512 chars)

   Stunning custom home that has been has the best of everything. The photos speak for themselves on this beautiful Champion built home.Elegantly appointed with clean lines and crisp white cabinetry.The living room is lovely & inviting.This is the ideal home to host your friends &family or relax in the openness of the living areas.Large master with spacious bedroom and closet!Close to walking trails,parks & shopping.Truly one of the most beautiful home with a livability price point.$874 space rent

8. 2021-02-04
   status Pending 512-char remark

   Show marketing remark (512 chars)

   Stunning custom home that has been has the best of everything. The photos speak for themselves on this beautiful Champion built home.Elegantly appointed with clean lines and crisp white cabinetry.The living room is lovely & inviting.This is the ideal home to host your friends &family or relax in the openness of the living areas.Large master with spacious bedroom and closet!Close to walking trails,parks & shopping.Truly one of the most beautiful home with a livability price point.$874 space rent

9. 2021-02-02
   status Active 512-char remark

   Show marketing remark (512 chars)

   Stunning custom home that has been has the best of everything. The photos speak for themselves on this beautiful Champion built home.Elegantly appointed with clean lines and crisp white cabinetry.The living room is lovely & inviting.This is the ideal home to host your friends &family or relax in the openness of the living areas.Large master with spacious bedroom and closet!Close to walking trails,parks & shopping.Truly one of the most beautiful home with a livability price point.$874 space rent

10. 2021-01-31
    listed $134,999 Active 512-char remark

    Show marketing remark (512 chars)

    Stunning custom home that has been has the best of everything. The photos speak for themselves on this beautiful Champion built home.Elegantly appointed with clean lines and crisp white cabinetry.The living room is lovely & inviting.This is the ideal home to host your friends &family or relax in the openness of the living areas.Large master with spacious bedroom and closet!Close to walking trails,parks & shopping.Truly one of the most beautiful home with a livability price point.$874 space rent

ⓘ 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: $1,615 · $135/mo
• Projected year-2 tax: $1,615 · $135/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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 12 unhealthy d/yr today · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,137
• − Mortgage interest: −$9,243
• − Property taxes: −$1,615
• − Insurance: −$825
• − Repairs & maintenance: −$2,011
• − Management: −$2,011
• − Depreciation: −$4,800
• Taxable income: $4,632
• Est. tax owed @ 24.0%: −$1,112
• After-tax cash flow: $5,923/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 — King City

• Score: 85/100
• State rank: #24
• US rank: #539

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Washington County · 583,254 people
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 36,569
• Household income: $98,125
• Rent vs Own: 30.0% rent · 70.0% own
• Severe rent burden: 1468.0

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 (73%)
• Race & ethnicity: White 73% Hispanic / Latino 10% Two or more races 8% Asian 8% Black 3%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 4% Lithuanian 4% Slovak 3%
• Foreign-born: 13% · Canada, Vietnam, China
• Languages at home: 83% English-only · Spanish 7% Other Indo-European 3% Vietnamese 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: ▼ -287.40%
• Current HPI: 277.57
• Rent YoY: ▼ -0.38%
• 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

+22.2% since first listed

8 events — show timeline

• 2026-03-14 Pending — RMLS
• 2026-01-30 Price Changed $165,000 RMLS
• 2026-01-05 Relisted — RMLS
• 2025-10-14 Listed $175,000 RMLS
• 2021-03-09 Sold (MLS) $140,000 RMLS
• 2021-02-04 Pending — RMLS
• 2021-02-02 Relisted — RMLS
• 2021-01-31 Listed $134,999 RMLS

Property tax history

+12.9%/yr

Latest (2025): $1,615 · +10.5% YoY. Source: county tax records.