12450 SW Fischer Rd #216 · King City, OR 97224

$165,000

2 bd · 2.0 ba · 1,080 sqft · Manufactured public records · 42 Days on market

Built 1986 $153/sqft · 146% above area

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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 +26.2/30.0
• DSCR +8.9/10.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• 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

Welcome to this 3-bedroom, 2-bath home situated on a spacious lot. This home features fresh interior paint completed in 2025 and a roof replaced in 2016. The spacious living room and dining area showcase durable vinyl flooring, creating a warm and functional space for everyday living and entertaining. The generously sized bedrooms offer ample closet space. The kitchen includes a freestanding refrigerator and freestanding range. Enjoy peaceful mornings on the backyard deck while listening to the birds chirping in the serene yard setting. The property also includes two storage sheds, providing plenty of room for tools, hobbies, or additional storage needs. Located in King Village Park, an all

Key facts

• 2 garage spots
• Community pool
• Built 1986

Property features AI

Finance

• Other: Park rules apply to pets (see rules)
• Financial info: Land lease monthly fee collected by park (lot rent listed separately); Land lease expires December 31, 2026
• HOA & community: Park amenities include basketball court, gym, management, party room, pool and recreation facilities; Park name: King Village; Water and sewer included with the park (sewer billed bi-monthly); Land lease in effect (monthly lot rent; see park for details)

Exterior

• Parking: Carport (2 spaces); Off-street parking for 2 vehicles
• Security: Handicap access (listed under property features)
• Utilities: Public water; Public sewer (sewer billed bi-monthly by the park); Electricity for fuel and hot water
• Home design: Manufactured home in a park; Single-level living (main level); Resale condition; Built in 1986; No notable view
• Construction: Composition roof; Skirting foundation; Manufactured home construction (manufacturer: Fuqua Homes Inc)
• Exterior features: Deck; Tool shed; Yard; T-111 siding

Interior

• Kitchen: Free-standing range; Free-standing refrigerator; Vinyl floor in kitchen
• Bedrooms: Primary bedroom on main level with attached bathroom; Second bedroom on main level (10 x 9); Third bedroom on main level (9 x 7)
• Flooring: Vinyl flooring in living areas and kitchen; Wall-to-wall carpet in bedrooms
• Bathrooms: Two full bathrooms, both on the main level
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Accessible approach with ramp; Handicap access; Washer/dryer included; Vinyl flooring in some areas; Wall-to-wall carpet in bedrooms and other areas
• Laundry & utility: Washer and dryer included; Electric hot water

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $165k.

Deal economics

• At list price, monthly cash flow is $422 ($5k/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: $160k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.4% 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); Tigard High School (math 24% / reading 75%, grade D+, #32 of 143 statewide, top 34%, 1,799 students, 31% FRL) — zoned schools at 28% FRL track the district average.
• Market conditions: Rents soft (-0.4%/yr); 412 active listings in the ZIP; 27 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 42 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $26k; list at $165k implies a 537% gain — meaningful room to come down on a strong offer.

Recommended offer $160,050 (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. 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: 1.07% ✓
• Cap rate: 9.36%
• Cash-on-cash: 10.95%
• DSCR: 1.49
• GRM: 7.8

CMA / ARV

• ARV (median comp): $67,049
• List price: $165,000
• Delta: 146.09%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17041 SW Eldorado Dr	0.20mi	2/2.0	1,152 (+7%)	3mo	$81,500	$71	77
17009 SW Eldorado Dr #5	0.27mi	2/2.0	1,152 (+7%)	1mo	$60,000	$52	75
17084 SW Eldorado Dr	0.17mi	2/2.0	1,152 (+7%)	7mo	$42,000	$36	75
17229 SW Eldorado Dr	0.26mi	2/2.0	1,153 (+7%)	10mo	$74,000	$64	68
11489 SW Royal Villa Dr #196	0.53mi	2/2.0	1,080 (0%)	10mo	$73,000	$68	67
18485 SW Pacific Dr #69	0.65mi	2/2.0	1,104 (+2%)	1mo	$68,000	$62	65
17003 SW Eldorado Dr	0.25mi	2/2.0	960 (-11%)	10mo	$65,000	$68	61
11491 SW Royal Villa Dr	0.43mi	2/2.0	1,152 (+7%)	10mo	$129,000	$112	60
11568 SW Royal Villa Dr	0.59mi	2/2.0	1,152 (+7%)	9mo	$155,000	$135	54
11526 SW Royal Villa Dr	0.60mi	2/2.0	960 (-11%)	2mo	$25,000	$26	52
11550 SW Royal Villa Dr	0.53mi	2/2.0	968 (-10%)	11mo	$145,000	$150	49
18485 SW Pacific Dr #44	0.63mi	2/1.0	972 (-10%)	3mo	$91,000	$94	48

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: -3.0%
• Equity multiple: 0.89×
• Total profit: $-5,127
• Equity at exit: $24,602

10-year hold

• IRR: 3.3%
• Equity multiple: 1.21×
• Total profit: $9,822
• 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: 7.8×

Monthly cashflow live

• Estimated rent: $1,765 high
• Mortgage (P&I): −$865
• Tax from tax record: −$39 /mo · $463/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $422

Break-even live

Break-even rent $1,231

Max offer price $165,000

Occupancy floor 71%

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 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17865 SW Pacific Hwy Tualatin, OR	1.0–3.0	1.0–2.0	970	$1,970	$2.03	1d	13	0.18mi
12070 SW Fischer Rd Portland, OR	1.0–3.0	1.0–2.0	925	$1,812	$1.96	1d	9	0.28mi
11865 SW Tualatin Rd Tualatin, OR	2.0–3.0	2.0–2.5	1154	$1,697	$1.47	1d	19	0.32mi
17000 SW Pacific Hwy Portland, OR	1.0–2.0	1.0–2.0	684	$1,575	$2.30	43d	3	0.36mi
10900 SW Gaarde St Portland, OR	2.0	1.0	825	$1,525	$1.85	7d	4	0.36mi
10900 SW Gaarde St Unit 273-16 Tigard, OR	2.0	1.0	900	$1,575	$1.75	23d	1	0.36mi
17979 SW 115th Ave Unit 6 Tualatin, OR	2.0	1.5	1064	$1,625	$1.53	23d	1	0.41mi
17987 SW 115th Ave Unit 1 Tualatin, OR	2.0	1.0	900	$1,475	$1.64	23d	1	0.46mi
17989 SW 115th Ave Tualatin, OR	2.0	1.0–1.5	982	$1,550	$1.58	23d	2	0.48mi
16849 SW 131st Ave Portland, OR	2.0	2.0	1029	$1,950	$1.90	14d	1	0.49mi
16901 SW 132nd Ter Unit 16915 B Tigard, OR	1.0	1.0	714	$1,695	$2.37	4d	1	0.49mi
13060 SW Dickson St Portland, OR	2.0	2.0	1108	$1,850	$1.67	43d	1	0.55mi
16444 SW 130th Ter King City, OR	2.0	2.0	1002	$1,695	$1.69	43d	1	0.57mi
16055 SW 108th Ave Tigard, OR	1.0–2.0	1.0–2.0	852	$1,940	$2.28	7d	9	1.05mi
13830 SW Chinn Ln Portland, OR	1.0–3.0	1.0–2.0	839	$1,724	$2.05	3d	11	1.05mi
11773 SW King George Dr King City, OR	1.0–2.0	1.0–2.0	826	$2,500	$3.03	11d	7	1.14mi
14495 SW Beef Bend Rd Portland, OR	1.0–2.0	1.0–2.0	845	$1,925	$2.28	4d	12	1.17mi
11390 SW Naeve St Tigard, OR	1.0–2.0	1.0–2.0	893	$2,119	$2.37	3d	5	1.30mi
9720 SW Tualatin Rd Tualatin, OR	2.0	2.0	1100	$1,750	$1.59	43d	1	1.32mi
11545 SW Beef Bend Rd Portland, OR	2.0	2.0	935	$1,514	$1.62	3d	1	1.32mi
15199 SW Royalty Pkwy Portland, OR	1.0–3.0	1.0–2.0	884	$1,805	$2.04	1d	12	1.33mi
11430 SW Bull Mountain Rd Tigard, OR	2.0	2.0	986	$1,970	$2.00	3d	6	1.45mi
14799 SW 109th Ave Unit 5702 Tigard, OR	2.0	2.0	986	$1,745	$1.77	21d	1	1.49mi
14799 SW 109th Ave Unit 3102 Tigard, OR	2.0	2.0	986	$1,695	$1.72	7d	1	1.49mi
14799 SW 109th Ave Unit 2502 Tigard, OR	2.0	2.0	986	$1,645	$1.67	43d	1	1.49mi
14799 SW 109th Ave Unit 7504 Tigard, OR	2.0	2.0	986	$1,575	$1.60	23d	1	1.49mi
14844 SW 109th Ave Portland, OR	2.0	1.5	1024	$1,950	$1.90	43d	1	1.50mi

Listing history 15 events

1. 2026-06-18
   days on market $165,000 Active 42 DOM
2. 2026-06-17
   days on market $165,000 Active 41 DOM
3. 2026-06-16
   days on market $165,000 Active 40 DOM
4. 2026-06-15
   days on market $165,000 Active 39 DOM
5. 2026-06-13
   days on market $165,000 Active 37 DOM
6. 2026-06-09
   days on market $165,000 Active 33 DOM
7. 2026-06-08
   days on market $165,000 Active 32 DOM
8. 2026-06-07
   days on market $165,000 Active 31 DOM
9. 2026-06-05
   days on market $165,000 Active 28 DOM
10. 2026-06-03
    days on market $165,000 Active 27 DOM
11. 2026-06-02
    days on market $165,000 Active 26 DOM
12. 2026-06-01
    days on market $165,000 Active 25 DOM
13. 2026-05-31
    days on market $165,000 Active 24 DOM
14. 2026-05-07
    listed $165,000 Active 958-char remark
15. 1990-12-13
    soldstatus $25,900

ⓘ 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: $463 · $39/mo
• Projected year-2 tax: $1,600 · $133/mo
• Expected delta: +$1,138/yr (+$95/mo · 245.7%)

ⓘ 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: $21,180
• − Mortgage interest: −$9,243
• − Property taxes: −$463
• − Insurance: −$825
• − Repairs & maintenance: −$1,694
• − Management: −$1,694
• − Depreciation: −$4,800
• Taxable income: $2,460
• Est. tax owed @ 24.0%: −$590
• After-tax cash flow: $4,470/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

+537.1% since first listed

2 events — show timeline

• 2026-05-07 Listed $165,000 RMLS
• 1990-12-13 Sold (Public Records) $25,900 Public Records

Property tax history

+4.7%/yr

Latest (2016): $463 · +51.8% YoY. Source: county tax records.