620 SE 2nd Ave #67 · Canby, OR 97013

$59,000

2 bd · 2.0 ba · 1,056 sqft · Other · 42 Days on market

Built 1978 $56/sqft · 13% below area Est $68k · 13% under

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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
• ARV discount +13.2/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.1/5.0
• Schools +3.6/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

NEW 14X20 SHOP, TWO DECKS, NEW ROOF, SOME NEW WINDOWS NEW COUNTERTOPS

Key facts

• Covered cement patio
• Private backyard
• Wooden deck

Tags

• PRIVATE BACKYARD
• COVERED CEMENT PATIO
• SPACIOUS WORKSHOP BUILDING
• WOODEN DECK
• COVERED PARKING SPACE

Property features AI

Finance

• Other: Property is resale, not new construction; Unit dimensions approximately 48 x 12 (two sections)
• HOA & community: Located in Redwood Estates park; Park allows up to 2 indoor pets; Land lease in effect (monthly lot rent: $975; lease expires October 1, 2026)

Exterior

• Parking: Driveway parking; Off-street parking
• Utilities: Public water; Public sewer; Electric-powered hot water (tank); Electric fuel; Satellite internet
• Home design: Manufactured home in a park (Statler); Single-story / one level; No notable view
• Construction: Built in 1978; Composition roof; Aluminum and lap siding; Block foundation with skirting
• Exterior features: Covered deck; Yard; Outbuilding and workshop; Level lot; Paved road access

Interior

• Kitchen: Pantry; Free-standing range; Free-standing refrigerator
• Bedrooms: Primary bedroom on main level; Second bedroom on main level
• Flooring: Vinyl flooring; Wall-to-wall carpet
• Bathrooms: Two full bathrooms (both on main level)
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Main-floor living with accessible design; Laundry area on main level; Vinyl flooring and wall-to-wall carpet; Double-pane windows with aluminum and vinyl frames; Crawl space basement
• Laundry & utility: Dedicated laundry room on main level (approx. 9 x 5)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $59k.

Deal economics

• At list price, monthly cash flow is $963 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $59k).
• Recommended offer: $57k (3.0% below list) — sets the bar for market timing.
• Cap rate 25.9% vs local median 2.1% in Canby — 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 82/100 on livability (#43 in OR, #1,056 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: cost of living D-.
• Canby SD 86 (town): math 36% / reading 45% proficiency, ranked #14 of 58 in OR (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Carus School (math 24% / reading 42%, grade F, #239 of 412 statewide, top 58%, 362 students, 40% FRL); Baker Prairie Middle School (math 42% / reading 54%, grade C-, #30 of 128 statewide, top 23%, 557 students, 33% FRL); Canby High School (math 75% / reading 75%, grade A-, #2 of 143 statewide, top 6%, 1,393 students, 27% FRL).
• Market conditions: Rents rising (+1.9%/yr); 166 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 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 $408 of loan paydown is wiped out by about $2k 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 $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 27y ago; this cycle's ask has dropped $20k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $31k; list at $59k implies a 90% gain — meaningful room to come down on a strong offer.

Recommended offer $57,230 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 2.85% ✓
• Cap rate: 25.88%
• Cash-on-cash: 69.95%
• DSCR: 4.11
• GRM: 2.9

CMA / ARV

• ARV (median comp): $67,500
• List price: $59,000
• Delta: -12.59%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.89% rent growth · sell at horizon

5-year hold

• IRR: 68.2%
• Equity multiple: 4.02×
• Total profit: $49,908
• Equity at exit: $8,797

10-year hold

• IRR: 72.0%
• Equity multiple: 7.96×
• Total profit: $114,968
• Equity at exit: $5,101

Cash invested: $16,520 (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 97013

• Rents YoY: 1.9%
• Active inventory: 166
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,684 high
• Mortgage (P&I): −$309
• Tax from tax record: −$33 /mo · $398/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $963

Break-even live

Break-even rent $465

Max offer price $59,000

Occupancy floor 38%

Sensitivity live

Price	-10% $996	-5% $980	+0% $963	+5% $946	+10% $930
Rent	-10% $830	-5% $896	+0% $963	+5% $1,029	+10% $1,096
Rate	-1.0pp $993	-0.5pp $978	base $963	+0.5pp $948	+1.0pp $932

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
360 S Locust St Unit 360 Canby, OR	2.0	1.0	840	$1,495	$1.78	44d	1	0.11mi
360 S Locust St Unit 360 Canby, OR	2.0	1.0	840	$1,495	$1.78	24d	1	0.11mi
360 S Locust St Unit 360 Canby, OR	2.0	1.0	840	$1,545	$1.84	5d	1	0.11mi
341 SE 2nd Ave Unit 347 Canby, OR	2.0	1.0	800	$1,195	$1.49	3d	1	0.17mi
341 SE 2nd Ave Unit 351 Canby, OR	2.0	1.0	800	$1,295	$1.62	3d	1	0.17mi
272 S Knott St Canby, OR	2.0	1.0	830	$1,395	$1.68	17d	1	0.19mi
410 S Knott St Unit 456 Canby, OR	2.0	1.0	850	$1,600	$1.88	3d	1	0.21mi
700 SE 5th Ave Canby, OR	2.0–3.0	2.0	1066	$1,840	$1.73	2d	2	0.25mi
190 SE 3rd Ave Canby, OR	3.0	2.0	1196	$2,450	$2.05	44d	1	0.27mi
450 S Pine St Canby, OR	2.0	1.0	840	$1,550	$1.85	2d	5	0.32mi
645 N Pine St Canby, OR	2.0	1.0	1100	$1,550	$1.41	2d	1	0.35mi
575 N Pine St Unit 575 Canby, OR	2.0	1.0	1100	$1,550	$1.41	5d	1	0.35mi
625 N Pine St Unit 639 Canby, OR	2.0	1.0	1100	$1,550	$1.41	44d	1	0.37mi
403 S Ivy St Unit 407 Canby, OR	2.0	1.0	850	$1,495	$1.76	3d	1	0.38mi
259 S Sequoia Pkwy Canby, OR	1.0–3.0	1.0–2.0	1013	$1,972	$1.95	2d	12	0.48mi
499 SW 5th Ave Canby, OR	3.0	1.0	942	$2,195	$2.33	45d	1	0.63mi
370 N Douglas St Unit 370 Canby, OR	1.0	1.5	840	$1,400	$1.67	8d	1	0.75mi
1477 N Manzanita St Canby, OR	1.0	1.0	585	$2,000	$3.42	13d	5	0.79mi
259 N Cedar St Canby, OR	3.0	2.5	1453	$2,399	$1.65	8d	1	0.81mi
267 N Aspen St Canby, OR	3.0	2.5	1252	$2,100	$1.68	21d	1	0.91mi
1802 N Pine St Canby, OR	2.0	2.0	1002	$1,499	$1.50	5d	1	1.00mi
2040 N Redwood St Canby, OR	1.0–2.0	1.0	910	$1,599	$1.76	2d	2	1.20mi

Listing history 18 events

1. 2026-06-18
   days on market $59,000 Active 42 DOM
2. 2026-06-17
   pricedays on market $59,000 Active 41 DOM
3. 2026-06-16
   days on market $69,000 Active 40 DOM
4. 2026-06-15
   days on market $69,000 Active 39 DOM
5. 2026-06-13
   days on market $69,000 Active 37 DOM
6. 2026-06-09
   days on market $69,000 Active 33 DOM
7. 2026-06-08
   days on market $69,000 Active 32 DOM
8. 2026-06-07
   days on market $69,000 Active 31 DOM
9. 2026-06-05
   days on market $69,000 Active 28 DOM
10. 2026-06-03
    days on market $69,000 Active 27 DOM
11. 2026-06-02
    days on market $69,000 Active 26 DOM
12. 2026-06-01
    days on market $69,000 Active 25 DOM
13. 2026-05-31
    days on market $69,000 Active 24 DOM
14. 2026-05-07
    listed $79,000 Active 965-char remark
15. 2002-02-28
    soldstatus $31,000 69-char remark

    Show marketing remark (69 chars)

    NEW 14X20 SHOP, TWO DECKS, NEW ROOF, SOME NEW WINDOWS NEW COUNTERTOPS

16. 2002-01-10
    listed $31,000 69-char remark

    Show marketing remark (69 chars)

    NEW 14X20 SHOP, TWO DECKS, NEW ROOF, SOME NEW WINDOWS NEW COUNTERTOPS

17. 1999-09-21
    soldstatus $20,000
18. 1999-05-20
    listed $22,000

ⓘ 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: $398 · $33/mo
• Projected year-2 tax: $572 · $48/mo
• Expected delta: +$174/yr (+$14/mo · 43.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% 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 10/10 Extreme 16 unhealthy d/yr today · 18 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,204
• − Mortgage interest: −$3,305
• − Property taxes: −$398
• − Insurance: −$295
• − Repairs & maintenance: −$1,616
• − Management: −$1,616
• − Depreciation: −$1,716
• Taxable income: $11,257
• Est. tax owed @ 24.0%: −$2,702
• After-tax cash flow: $8,853/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: Canby SD 86
• NCES district ID: 4102640
• Math proficiency: 36% ▼ -4.00%
• Reading proficiency: 45% ▼ -5.00%
• Median HH income: $64,246
• Composite: 36.24/100
• National rank: #4717
• State rank: #14 of 58 in OR

Livability — Canby

• Score: 82/100
• State rank: #43
• US rank: #1056

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Canby, OR
• County: Clackamas County · 361,406 people
• City population: 24,293
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 24,293
• Household income: $101,832
• Rent vs Own: 27.2% rent · 72.8% own
• Severe rent burden: 575.0

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 18% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Portuguese 4% Lithuanian 3% Italian 2%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 83% English-only · Spanish 14% Russian/Polish/Slavic 1% Vietnamese 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: ▼ -427.87%
• Current HPI: 287.758
• 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

+168.2% since first listed

7 events — show timeline

• 2026-06-17 Price Changed $59,000 RMLS
• 2026-05-27 Price Changed $69,000 RMLS
• 2026-05-07 Listed $79,000 RMLS
• 2002-02-28 Sold (MLS) $31,000 RMLS
• 2002-01-10 Listed $31,000 RMLS
• 1999-09-21 Sold (MLS) $20,000 RMLS
• 1999-05-20 Listed $22,000 RMLS

Property tax history

+4.0%/yr

Latest (2023): $398 · +1.5% YoY. Source: county tax records.