3500 SE Concord Rd #62 · Oak Grove, OR 97267

$69,000

2 bd · 1.0 ba · 922 sqft · Other · 3 Days on market

Built 1966

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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
• Livability +4.2/5.0
• Schools +3.2/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Bright, beautiful and move in ready! Tastefully updated with cheerful colors, this home is welcoming and cozy. Stepping up to the home, you will feel like you've been transported to the beachfront with a soft wind stirring your senses. Enjoy summer evenings on the front porch, listening to the gentle breeze rustle the adjacent foliage. Retreat through the French doors into the spacious living room, flooded with natural light. The kitchen and bathroom are delightfully appointed with unique mid century modern pieces that will warm your heart and soul. Each bedroom has a convenient walk-in closet and the bathroom has a separate tub and shower. The roomy utility room offers not just a washer an

Key facts

• Extra storage space
• Utility room
• Walk-in closet

Tags

• FRONT PORCH
• FRENCH DOORS
• SPACIOUS LIVING ROOM
• WALK-IN CLOSET
• UTILITY ROOM
• EXTRA STORAGE SPACE

Property features AI

Finance

• Financial info: Land lease (monthly lot rent of $1,040) with lease expiring December 31, 2026
• HOA & community: Senior community (Concord Terrace); Community laundry, on-site management, and meeting room

Exterior

• Parking: Carport (extra deep)
• Utilities: Electric fuel; Public water; Public sewer
• Home design: Manufactured home in park (dual wide); Single-story (one level); No significant view
• Construction: Built in 1966; Metal siding exterior; Rubber roof; Skirting foundation
• Exterior features: Covered patio; Porch; Garden with raised beds; Tool shed; Rain barrel/cistern(s); Leased land, level site; Paved access road

Interior

• Kitchen: Built-in oven; Built-in refrigerator; Cooktop; Range hood
• Bedrooms: Primary bedroom on main level with walk-in closet; Second bedroom on main level with walk-in closet; Main-floor bedroom with attached bath (accessibility feature)
• Flooring: Luxury vinyl plank flooring
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Forced air heating; Mini split heating; Central air conditioning; Mini split cooling
• Interior features: Accessible one-level layout with main-floor bedroom and bath; Laundry area on main level with washer/dryer included; Luxury vinyl plank flooring; Double- and triple-pane windows with vinyl frames; Crawl space
• Laundry & utility: Main-level laundry (washer and dryer included); Electric hot water

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $69k.

Deal economics

• At list price, monthly cash flow is $861 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $69k).
• Cap rate 21.3% vs local median 2.7% in Oak Grove — 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 84/100 on livability (#37 in OR, #832 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: cost of living F.
• North Clackamas SD 12 (suburban): math 29% / reading 43% proficiency, ranked #22 of 58 in OR (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Riverside Elementary School (math 15% / reading 24%, grade F, #366 of 412 statewide, top 91%, 331 students, 70% FRL); Alder Creek Middle School (math 13% / reading 36%, grade F, #108 of 128 statewide, top 89%, 846 students, 49% FRL); Putnam High School (math 34% / reading 74%, grade C-, #30 of 143 statewide, top 20%, 1,106 students, 38% FRL) — zoned schools average 53% FRL vs 34% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 176 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 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 $477 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 + 0.8% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $69,000

Questions for the listing agent

1. Built in 1966 — 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: 2.45% ✓
• Cap rate: 21.26%
• Cash-on-cash: 53.47%
• DSCR: 3.38
• GRM: 3.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.81% rent growth · sell at horizon

5-year hold

• IRR: 49.1%
• Equity multiple: 3.07×
• Total profit: $40,018
• Equity at exit: $10,288

10-year hold

• IRR: 53.7%
• Equity multiple: 5.72×
• Total profit: $91,206
• Equity at exit: $5,966

Cash invested: $19,320 (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 97267

• Rents YoY: 0.8%
• Active inventory: 176
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,693 high
• Mortgage (P&I): −$362
• Tax est. 1.5%: −$86 /mo · $1,035/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $861

Break-even live

Break-even rent $604

Max offer price $69,000

Occupancy floor 44%

Sensitivity live

Price	-10% $908	-5% $885	+0% $861	+5% $837	+10% $813
Rent	-10% $727	-5% $794	+0% $861	+5% $928	+10% $995
Rate	-1.0pp $896	-0.5pp $878	base $861	+0.5pp $843	+1.0pp $825

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3624 SE Westview Ave Portland, OR	3.0	2.0	1052	$1,950	$1.85	16d	2	0.08mi
3416 SE Vineyard Rd Oak Grove, OR	2.0	1.0	1100	$1,600	$1.45	0d	1	0.24mi
15500 SE East Ave Unit 15530 Oak Grove, OR	2.0	1.5	900	$1,450	$1.61	23d	1	0.35mi
15318 SE Risley Ct Milwaukie, OR	2.0	1.0	1100	$2,395	$2.18	13d	1	0.36mi
4400 SE Naef Rd Portland, OR	1.0	1.0	717	$1,350	$1.88	25d	1	0.55mi
4400 SE Naef Rd Portland, OR	1.0	1.0	717	$1,375	$1.92	0d	9	0.55mi
4400 SE Naef Rd Apt B22 Milwaukie, OR	1.0	1.0	717	$1,385	$1.93	25d	1	0.56mi
4400 SE Naef Rd Unit F30 Milwaukie, OR	2.0	2.0	1010	$1,620	$1.60	25d	1	0.56mi
4545 SE Ina Ave Portland, OR	2.0	1.0	900	$1,495	$1.66	3d	1	0.86mi
3025 SE Maple St Unit 4 Portland, OR	2.0	1.0	900	$1,695	$1.88	9d	1	0.87mi
3025 SE Maple St Portland, OR	2.0	1.0	900	$1,695	$1.88	0d	1	0.87mi
4520 SE Ina Ave Apt 6 Portland, OR	1.0	1.0	775	$1,399	$1.81	45d	1	0.91mi
4807 SE Boardman Ave Unit 2 Portland, OR	3.0	1.0	986	$1,895	$1.92	45d	1	0.97mi
4803 SE Boardman Ave Milwaukie, OR	3.0	1.0	986	$1,895	$1.92	45d	1	1.00mi
4803 SE Boardman Ave Unit 0702 Milwaukie, OR	3.0	1.0	986	$1,895	$1.92	25d	1	1.00mi
4800 SE Boardman Ave Apt 6 Milwaukie, OR	2.0	1.0	830	$1,595	$1.92	5d	1	1.03mi
3190 Furman Dr Lake Oswego, OR	1.0–2.0	1.0	648	$1,554	$2.40	45d	1	1.04mi
14832 SE Cedar Ave Unit 3 Milwaukie, OR	2.0	1.0	850	$1,395	$1.64	13d	1	1.07mi
2600 SE Courtney Ave Portland, OR	1.0	1.0	600	$1,378	$2.30	25d	3	1.15mi
18101 SE Arista Dr Apt 5 Milwaukie, OR	2.0	1.0	800	$1,695	$2.12	16d	1	1.20mi
17966 SE Addie St Portland, OR	2.0	1.0	850	$1,500	$1.76	45d	1	1.23mi
14020 SE Arista Dr Portland, OR	2.0	1.5	970	$1,900	$1.96	0d	1	1.23mi
2301 SE Courtney Ave Unit 10 Oak Grove, OR	2.0	1.0	962	$1,295	$1.35	25d	1	1.25mi
2295 SE Courtney Ave Portland, OR	2.0	1.0	962	$1,295	$1.35	25d	1	1.27mi
2295 SE Courtney Ave Portland, OR	1.0	1.0	727	$1,195	$1.64	4d	1	1.27mi
2311 SE Courtney Ave Portland, OR	2.0	1.5	1000	$1,795	$1.79	25d	1	1.28mi
13500 SE Linden Ln Portland, OR	2.0	1.0	750	$1,500	$2.00	25d	1	1.36mi
18484 SE Abernethy Ln Portland, OR	2.0	1.5	1100	$1,440	$1.31	3d	1	1.48mi

Listing history 3 events

1. 2026-06-07
   statusdays on market $69,000 Pending 3 DOM
2. 2026-06-03
   remarks 699-char remark
3. 2026-06-03
   listed $69,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥94°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 18 unhealthy d/yr today · 20 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,319
• − Mortgage interest: −$3,865
• − Property taxes: −$1,035
• − Insurance: −$345
• − Repairs & maintenance: −$1,625
• − Management: −$1,625
• − Depreciation: −$2,007
• Taxable income: $9,815
• Est. tax owed @ 24.0%: −$2,356
• After-tax cash flow: $7,974/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: North Clackamas SD 12
• NCES district ID: 4108830
• Math proficiency: 29% ▼ -14.00%
• Reading proficiency: 43% ▼ -13.00%
• Median HH income: $60,217
• Composite: 32.1/100
• National rank: #5807
• State rank: #22 of 58 in OR

Livability — Oak Grove

• Score: 84/100
• State rank: #37
• US rank: #832

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oak Grove, OR
• County: Clackamas County · 361,406 people
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 31,311
• Household income: $87,418
• Rent vs Own: 28.2% rent · 71.8% own
• Severe rent burden: 1226.0

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 (78%)
• Race & ethnicity: White 78% Hispanic / Latino 12% Two or more races 10% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Portuguese 5% Lithuanian 4% Italian 3%
• Foreign-born: 8% · Canada
• Languages at home: 88% English-only · Spanish 7% Russian/Polish/Slavic 2% Other Indo-European 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: ▼ -526.38%
• Current HPI: 292.1818
• Rent YoY: ▲ 0.81%
• 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

1 event — show timeline

• 2026-06-03 Listed $69,000 RMLS

Property tax history

-8.8%/yr

Latest (2018): $23 · +16.3% YoY. Source: county tax records.