32700 SE Leewood Ln Unit 78B · Boring, OR 97009

$174,900

3 bd · 2.0 ba · 1,750 sqft · Other · 17 Days on market

Built 1975

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

Listing remarks MLS

Jaw dropping remodeled manufactured home located at Big Valley Woods Mobile Home Park. This beauty has a massive lot! Built in 1975, this home includes 1,708sqft of living space, 3 bed, 2 bath, big living room, dining room, spacious bedrooms, brand new windows, interior and exterior doors, paint, bathroom vanities, floors, ceilings, light fixtures, new kitchen, landscaping & more. Space rent is $890/month. Includes space rent, management, water, sewer, garbage, gym, game room, & snow removal.

Key facts

• Private deck
• Modern flooring
• Oversized yard

Tags

• OPEN-CONCEPT LIVING
• MODERN FLOORING
• VINYL DUAL-PANED WINDOWS
• PRIVATE DECK
• OVERSIZED YARD
• COVERED PARKING

Property features AI

Finance

• Other: Manufacturer: GREAT LAKES; Main level area approximately 1,750
• Financial info: Residential manufactured home in park (land lease applies)
• HOA & community: Located in Big Valley Woods park; Land lease in place (monthly lot rent $1,320; lease expires May 31, 2028)

Exterior

• Parking: Driveway
• Security: Security features unknown
• Utilities: Community water; Public sewer; Cable internet available; Electric service
• Home design: Manufactured home in park; Single‑story living (main level layout); No notable view; Approximately conditioned
• Construction: Built in 1975; Skirting foundation
• Exterior features: Deck; Yard; Metal siding; Level lot; Paved road access

Interior

• Kitchen: Cook island; Free‑standing range; Range hood; Electric hot water
• Bedrooms: Primary bedroom (Main level); Second bedroom; Third bedroom
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms (both on main level)
• Heating & cooling: Forced air heating; Heat pump cooling; Electric fuel
• Interior features: High ceilings; Laminate flooring; Laundry area; Double pane windows with vinyl frames; Crawl space basement
• Laundry & utility: Laundry included (on main level)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $175k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $175k).
• Recommended offer: $172k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Oregon Trail SD 46 (town): math 47% / reading 64% proficiency, ranked #12 of 183 in OR (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Naas Elementary School (345 students, 47% FRL); Boring Middle School (405 students, 34% FRL); Sandy High School (1,440 students, 32% FRL) — zoned schools at 38% FRL track the district average.
• Market conditions: 38 active listings in the ZIP; 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 $1k of loan paydown is wiped out by about $5k 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 + 3.0% rent growth), your $49k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $124k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $172,276 (1.5% below list)

Questions for the listing agent

1. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.79% ✓
• Cap rate: 16.18%
• Cash-on-cash: 35.31%
• DSCR: 2.57
• GRM: 4.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 30.9%
• Equity multiple: 2.29×
• Total profit: $63,367
• Equity at exit: $26,078

10-year hold

• IRR: 38.1%
• Equity multiple: 4.53×
• Total profit: $173,098
• Equity at exit: $15,122

Cash invested: $48,972 (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 97009

• Active inventory: 38
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $3,131 medium
• Mortgage (P&I): −$917
• Tax from tax record: −$42 /mo · $508/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$657
• Net cashflow: $1,441

Break-even live

Break-even rent $1,307

Max offer price $174,900

Occupancy floor 49%

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-18
   days on market $174,900 Active 17 DOM
2. 2026-06-17
   days on market $174,900 Active 16 DOM
3. 2026-06-16
   days on market $174,900 Active 15 DOM
4. 2026-06-15
   days on market $174,900 Active 14 DOM
5. 2026-06-13
   days on market $174,900 Active 12 DOM
6. 2026-06-13
   days on market $174,900 Active 11 DOM
7. 2026-06-09
   days on market $174,900 Active 8 DOM
8. 2026-06-08
   days on market $174,900 Active 7 DOM
9. 2026-06-07
   days on market $174,900 Active 6 DOM
10. 2026-06-03
    days on market $174,900 Active 2 DOM
11. 2026-06-02
    remarks 675-char remark
12. 2026-06-02
    listed $174,900 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: $508 · $42/mo
• Projected year-2 tax: $1,697 · $141/mo
• Expected delta: +$1,189/yr (+$99/mo · 234.1%)

ⓘ 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 5/10 Major
• 🌡 Heat 2/10 Low 7 d/yr ≥90°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 11 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,568
• − Mortgage interest: −$9,797
• − Property taxes: −$508
• − Insurance: −$874
• − Repairs & maintenance: −$3,005
• − Management: −$3,005
• − Depreciation: −$5,088
• Taxable income: $15,290
• Est. tax owed @ 24.0%: −$3,670
• After-tax cash flow: $13,621/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: Oregon Trail SD 46
• NCES district ID: 4110890
• Math proficiency: 47% ▬ 0.00%
• Reading proficiency: 64% ▲ 1.00%
• Median HH income: $61,406
• Composite: 50.19/100
• National rank: #4075
• State rank: #12 of 183 in OR

Livability — Boring

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 7,877

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 (73%)
• Race & ethnicity: White 73% Hispanic / Latino 18% Two or more races 14% Asian 1%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Portuguese 3% Slovak 3% Iranian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 91% English-only · Spanish 7% Other Indo-European 2%

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: ▼ -238.15%
• Current HPI: 307.0405
• Rent YoY: —
• Metro: —
• 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

+39.9% since first listed

6 events — show timeline

• 2026-06-01 Listed $174,900 RMLS
• 2020-09-04 Sold (MLS) $124,400 RMLS
• 2020-08-27 Pending — RMLS
• 2020-08-12 Relisted — RMLS
• 2020-08-01 Pending — RMLS
• 2020-07-03 Listed $125,000 RMLS

Property tax history

+5.3%/yr

Latest (2025): $508 · +4.6% YoY. Source: county tax records.