10010 SW Hall Blvd #5 · Metzger, OR 97223

$145,000

2 bd · 1.0 ba · 776 sqft · Condo public records · 181 Days on market

Built 1979 $187/sqft · 37% below area Est $212k · 32% under $450/mo HOA · 28% of rent

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +10.0/30.0
• 1% rule +6.2/10.0
• Schools +4.9/10.0
• Livability +4.4/5.0
• Rent growth +3.0/5.0
• DSCR +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Your dream home is waiting for you! This home has fresh interior paint, partial flooring replacement in some areas. Discover a bright interior tied together with a neutral color palette. The primary bathroom features plenty of under sink storage waiting for your home organization needs. As an added bonus, the seller is offering to cover six months of HOA dues—making this home an even more attractive opportunity! Don’t miss your chance to make it your own. This home has been virtually staged to illustrate its potential.

Key facts

• $450 HOA
• Built 1979
• Listed 181 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $145k.

Deal economics

• At list price, monthly cash flow is $-88 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $129k (10.8% below list).
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $128k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 88/100 on livability (#8 in OR, #195 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+; Watch: schools C-, cost of living F.
• 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.
• Market conditions: Rents rising (+1.9%/yr); 217 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $4k 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 181 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 23y ago; this cycle's ask has dropped $27k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $54k; list at $145k implies a 169% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.

Recommended offer $127,600 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 181 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.12% ✓
• Cap rate: 5.56%
• Cash-on-cash: -2.61%
• DSCR: 0.88
• GRM: 7.4

CMA / ARV

• ARV (median comp): $212,255
• List price: $145,000
• Delta: -31.69%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.93% rent growth · sell at horizon

5-year hold

• IRR: -22.1%
• Equity multiple: 0.25×
• Total profit: $-30,600
• Equity at exit: $21,620

10-year hold

• IRR: -19.6%
• Equity multiple: 0.02×
• Total profit: $-39,817
• Equity at exit: $12,537

Cash invested: $40,600 (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 97223

• Rents YoY: 1.9%
• Active inventory: 217
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,626 high
• Mortgage (P&I): −$760
• Tax from tax record: −$102 /mo · $1,220/yr
• Insurance: −$60
• HOA: −$450
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $-88

Break-even live

Break-even rent $1,737

Max offer price $129,401

Occupancy floor —

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10025 SW 85th Ave Portland, OR	2.0–3.0	1.0	825	$1,314	$1.59	43d	1	0.03mi
9905 SW Hall Blvd Apt 8 Portland, OR	2.0	1.0	900	$1,200	$1.33	43d	1	0.10mi
8775 SW Locust St Apt 14 Tigard, OR	2.0	2.0	1097	$1,595	$1.45	43d	1	0.14mi
9735 SW Hall Blvd Portland, OR	1.0	1.0	660	$1,362	$2.06	4d	7	0.18mi
9550 SW Washington Dr Unit 17 Portland, OR	2.0	1.0	750	$1,395	$1.86	43d	1	0.25mi
9555 SW Hall Blvd Unit 22 Portland, OR	1.0	1.0	633	$1,295	$2.05	12d	1	0.25mi
9555 SW Hall Blvd Unit 17 Portland, OR	2.0	1.0	832	$1,395	$1.68	12d	1	0.25mi
8920 SW Oak St Tigard, OR	2.0	1.0–2.0	912	$3,253	$3.57	1d	13	0.27mi
9550 SW Washington Dr Apt 5 Portland, OR	2.0	1.0	750	$1,595	$2.13	43d	1	0.27mi
9550 SW Washington Dr Unit 29 Portland, OR	2.0	1.0	750	$1,525	$2.03	43d	1	0.28mi
9568 SW 91st Ave Portland, OR	2.0	2.5	1018	$2,500	$2.46	12d	1	0.37mi
9380 SW 80th Ave Unit C Portland, OR	2.0	1.0	950	$1,495	$1.57	43d	1	0.47mi
9500 SW Greenburg Rd Portland, OR	2.0	1.0	855	$1,574	$1.84	23d	4	0.50mi
9520 SW Greenburg Rd Tigard, OR	1.0–2.0	1.0–2.0	815	$1,800	$2.21	14d	2	0.51mi
11157 SW Hall Blvd Tigard, OR	2.0	1.0	850	$1,512	$1.78	43d	1	0.51mi
9350 SW Hall Blvd Portland, OR	1.0–2.0	1.0–1.5	728	$1,400	$1.92	23d	6	0.53mi
9060 SW Oleson Rd Portland, OR	1.0–2.0	1.0	767	$1,628	$2.12	4d	7	0.58mi
8585 SW Pfaffle St Unit 852504 Tigard, OR	2.0	2.0	930	$1,595	$1.72	43d	1	0.60mi
8780 SW Washington Dr Portland, OR	2.0	1.0	864	$2,395	$2.77	43d	1	0.66mi
8376 SW Pfaffle St Tigard, OR	1.0–2.0	1.0–2.0	774	$1,835	$2.37	3d	5	0.71mi
7705 SW Pfaffle St Tigard, OR	1.0	1.0	512	$1,200	$2.34	43d	3	0.75mi
9655 SW North Dakota St Portland, OR	2.0	1.0	810	$1,662	$2.05	4d	2	0.77mi
11555 SW 88th Ave Portland, OR	1.0–3.0	1.0–1.5	764	$1,574	$2.06	3d	16	0.78mi
8991 SW Herb Way Portland, OR	3.0	3.0	1100	$2,095	$1.90	43d	1	0.80mi
11200 SW Greenburg Rd Apt 34 Portland, OR	2.0	1.0	870	$1,600	$1.84	21d	1	0.81mi
11200 SW Greenburg Rd Portland, OR	2.0	1.0	850	$1,500	$1.76	20d	1	0.81mi
11044 SW Greenburg Rd #321 Portland, OR	1.0	1.0	596	$1,995	$3.35	43d	1	0.81mi
9800 SW North Dakota St Portland, OR	2.0	1.0–1.5	883	$1,434	$1.62	14d	2	0.85mi
10735 SW 69th Ave Unit 18 Portland, OR	2.0	1.0	825	$1,495	$1.81	17d	1	0.86mi
10735 SW 69th Ave Portland, OR	2.0	1.0	825	$1,495	$1.81	43d	1	0.86mi
9900 SW North Dakota St Tigard, OR	1.0–2.0	1.0	838	$1,775	$2.12	1d	1	0.86mi
11575 SW Greenburg Rd Unit 08 Tigard, OR	1.0	1.0	575	$1,300	$2.26	20d	1	0.87mi
11575 SW Greenburg Rd Unit 08 Tigard, OR	1.0	1.0	575	$1,300	$2.26	23d	1	0.87mi
11485 SW Greenburg Rd Unit 372-03 Tigard, OR	2.0	1.0	896	$1,595	$1.78	43d	1	0.88mi
11485 SW Greenburg Rd Unit 372-08 Tigard, OR	2.0	1.0	896	$1,470	$1.64	43d	1	0.88mi
11445 SW Greenburg Rd Unit 4 Tigard, OR	2.0	1.5	1050	$1,499	$1.43	12d	1	0.90mi
11445 SW Greenburg Rd Portland, OR	2.0	1.5	1050	$1,549	$1.48	16d	2	0.92mi
11867 SW Greenburg Rd Unit 305-14 Tigard, OR	1.0	1.0	600	$1,145	$1.91	43d	1	0.92mi
11867 SW Greenburg Rd Unit 305-24 Tigard, OR	1.0	1.0	600	$1,099	$1.83	21d	1	0.92mi
9050 SW Washington Square Rd Portland, OR	1.0–2.0	1.0	850	$1,595	$1.88	3d	6	0.95mi

HOA detail condo

• Monthly dues: $450 · $5,400/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-18
   days on market $145,000 Active 181 DOM
2. 2026-06-17
   days on market $145,000 Active 180 DOM
3. 2026-06-16
   days on market $145,000 Active 179 DOM
4. 2026-06-15
   days on market $145,000 Active 178 DOM
5. 2026-06-13
   days on market $145,000 Active 176 DOM
6. 2026-06-09
   days on market $145,000 Active 172 DOM
7. 2026-06-08
   days on market $145,000 Active 171 DOM
8. 2026-06-07
   days on market $145,000 Active 170 DOM
9. 2026-06-05
   pricedays on market $145,000 Active 167 DOM
10. 2026-06-03
    days on market $149,000 Active 166 DOM
11. 2026-06-02
    days on market $149,000 Active 165 DOM
12. 2026-06-01
    days on market $149,000 Active 164 DOM
13. 2026-05-31
    days on market $149,000 Active 163 DOM
14. 2026-05-07
    price $149,000 536-char remark

    Show marketing remark (536 chars)

    Your dream home is waiting for you! This home has fresh interior paint, partial flooring replacement in some areas. Discover a bright interior tied together with a neutral color palette. The primary bathroom features plenty of under sink storage waiting for your home organization needs. As an added bonus, the seller is offering to cover six months of HOA dues—making this home an even more attractive opportunity! Don’t miss your chance to make it your own. This home has been virtually staged to illustrate its potential.

15. 2026-04-23
    price $154,000 536-char remark

    Show marketing remark (536 chars)

    Your dream home is waiting for you! This home has fresh interior paint, partial flooring replacement in some areas. Discover a bright interior tied together with a neutral color palette. The primary bathroom features plenty of under sink storage waiting for your home organization needs. As an added bonus, the seller is offering to cover six months of HOA dues—making this home an even more attractive opportunity! Don’t miss your chance to make it your own. This home has been virtually staged to illustrate its potential.

16. 2026-03-05
    price $160,000 536-char remark

    Show marketing remark (536 chars)

    Your dream home is waiting for you! This home has fresh interior paint, partial flooring replacement in some areas. Discover a bright interior tied together with a neutral color palette. The primary bathroom features plenty of under sink storage waiting for your home organization needs. As an added bonus, the seller is offering to cover six months of HOA dues—making this home an even more attractive opportunity! Don’t miss your chance to make it your own. This home has been virtually staged to illustrate its potential.

17. 2026-02-13
    price $165,000 536-char remark

    Show marketing remark (536 chars)

    Your dream home is waiting for you! This home has fresh interior paint, partial flooring replacement in some areas. Discover a bright interior tied together with a neutral color palette. The primary bathroom features plenty of under sink storage waiting for your home organization needs. As an added bonus, the seller is offering to cover six months of HOA dues—making this home an even more attractive opportunity! Don’t miss your chance to make it your own. This home has been virtually staged to illustrate its potential.

18. 2026-01-15
    price $168,000 536-char remark

    Show marketing remark (536 chars)

    Your dream home is waiting for you! This home has fresh interior paint, partial flooring replacement in some areas. Discover a bright interior tied together with a neutral color palette. The primary bathroom features plenty of under sink storage waiting for your home organization needs. As an added bonus, the seller is offering to cover six months of HOA dues—making this home an even more attractive opportunity! Don’t miss your chance to make it your own. This home has been virtually staged to illustrate its potential.

19. 2025-12-19
    listed $172,000 Active 536-char remark

    Show marketing remark (536 chars)

    Your dream home is waiting for you! This home has fresh interior paint, partial flooring replacement in some areas. Discover a bright interior tied together with a neutral color palette. The primary bathroom features plenty of under sink storage waiting for your home organization needs. As an added bonus, the seller is offering to cover six months of HOA dues—making this home an even more attractive opportunity! Don’t miss your chance to make it your own. This home has been virtually staged to illustrate its potential.

20. 2003-10-24
    soldstatus $54,000 168-char remark

    Show marketing remark (168 chars)

    ALL SPIFFED UP WITH NEW PAINT,CARPET,VINYL IN ENTRY,BATH, & KITCHEN (NEW DISPOSAL TOO) NEW MINI BLINDS. LOW HOA FEES! CLOSE TO GROCERY, SHOPS AND WASHINGTON SQUARE.

21. 2003-10-24
    soldstatus $54,000

    Show marketing remark (168 chars)

    ALL SPIFFED UP WITH NEW PAINT,CARPET,VINYL IN ENTRY,BATH, & KITCHEN (NEW DISPOSAL TOO) NEW MINI BLINDS. LOW HOA FEES! CLOSE TO GROCERY, SHOPS AND WASHINGTON SQUARE.

22. 2003-09-25
    historical 168-char remark

    Show marketing remark (168 chars)

    ALL SPIFFED UP WITH NEW PAINT,CARPET,VINYL IN ENTRY,BATH, & KITCHEN (NEW DISPOSAL TOO) NEW MINI BLINDS. LOW HOA FEES! CLOSE TO GROCERY, SHOPS AND WASHINGTON SQUARE.

23. 2003-06-24
    listed $55,900 168-char remark

    Show marketing remark (168 chars)

    ALL SPIFFED UP WITH NEW PAINT,CARPET,VINYL IN ENTRY,BATH, & KITCHEN (NEW DISPOSAL TOO) NEW MINI BLINDS. LOW HOA FEES! CLOSE TO GROCERY, SHOPS AND WASHINGTON SQUARE.

24. 1979-06-01
    soldstatus $38,100

ⓘ 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: $1,220 · $102/mo
• Projected year-2 tax: $1,406 · $117/mo
• Expected delta: +$186/yr (+$16/mo · 15.2%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥91°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: $19,507
• − Mortgage interest: −$8,122
• − Property taxes: −$1,220
• − Insurance: −$725
• − Repairs & maintenance: −$1,561
• − Management: −$1,561
• − HOA: −$5,400
• − Depreciation: −$4,218
• Taxable loss: −$3,300
• Est. tax savings @ 24.0%: +$792
• After-tax cash flow: $-268/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 — Metzger

• Score: 88/100
• State rank: #8
• US rank: #195

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Metzger, OR
• County: Washington County · 583,254 people
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 50,527
• Household income: $106,757
• Rent vs Own: 39.2% rent · 60.8% own
• Severe rent burden: 2103.0

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 (68%)
• Race & ethnicity: White 68% Hispanic / Latino 14% Two or more races 11% Asian 8% Black 1% Native American 1%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Portuguese 3% Italian 3% Slovak 3%
• Foreign-born: 13% · Canada, China, Vietnam
• Languages at home: 81% English-only · Spanish 8% Other Indo-European 3% Other Asian/Pacific 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: ▼ -466.07%
• Current HPI: 307.2423
• Rent YoY: ▲ 1.93%
• 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

+291.1% since first listed

11 events — show timeline

• 2026-05-07 Price Changed $149,000 RMLS
• 2026-04-23 Price Changed $154,000 RMLS
• 2026-03-05 Price Changed $160,000 RMLS
• 2026-02-13 Price Changed $165,000 RMLS
• 2026-01-15 Price Changed $168,000 RMLS
• 2025-12-19 Listed $172,000 RMLS
• 2003-10-24 Sold (Public Records) $54,000 Public Records
• 2003-10-24 Sold (MLS) $54,000 RMLS
• 2003-09-25 Delisted — RMLS
• 2003-06-24 Listed $55,900 RMLS
• 1979-06-01 Sold (Public Records) $38,100 Public Records

Property tax history

+3.8%/yr

Latest (2025): $1,220 · +10.4% YoY. Source: county tax records.