13640 SE Highway 212 · Happy Valley, OR 97015

$109,900

2 bd · 2.0 ba · 1,568 sqft · Land · 11 Days on market

Built 2003

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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 +3.8/5.0
• Schools +3.2/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

**Shadowbrook 55 community.** Spacious living, Just over 1500sqft! Primary with soak tib and tons of closet space, Kitchen/Dining Combo opens to Family & Living Rooms. Lots of space, Built ins, and Charm! Home has been completely re-piped in 2020, Furnace/AC serviced in 2020, Privacy cedar fence 2018, Gutters 2014, New Wall Oven 2020, New carpet throughout 2022, Roof 2011. Tool Shed 9x12. Water metered monthly. Pool, Community center, library & RV parking available at the park. Space rent $1100 water, garbage,sewer separate, runs around $81 total for utilities.

Key facts

• Accessible location
• Recreation room
• Open layout

Tags

• OPEN LAYOUT
• BACK DECK
• RECREATION ROOM
• POOL
• ACCESSIBLE LOCATION

Property features AI

Finance

• Other: Located in Shadow Brook park; Private road with paved access
• Financial info: Lot rent $1,370 monthly
• HOA & community: Community amenities: lap pool, party room, recreation facilities, trash service, water, management; Senior community (55+)

Exterior

• Parking: Carport; Off-street parking
• Utilities: Electricity fuel; Public water; Public sewer
• Home design: Manufactured home in park; Residential property; Single-story (main living area); No view specified
• Construction: Built in 2003; Composition roof; MHOD building description; Crawl space foundation
• Exterior features: Porch; Yard; Cement siding

Interior

• Kitchen: Dishwasher; Free-standing range; Free-standing refrigerator
• Bedrooms: Primary bedroom on the main level; Second bedroom
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Forced air heating; No cooling system
• Interior features: Double-pane windows with vinyl frames; Crawl space basement

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath land listed at $110k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Cap rate 17.4% vs local median 2.4% in Happy Valley — 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 76/100 on livability (#76 in OR, #3,386 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, 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: Verne A Duncan Elementary School (math 8% / reading 34%, grade F, #353 of 412 statewide, top 87%, 407 students, 32% FRL); Happy Valley Middle School (math 41% / reading 56%, grade C-, #29 of 128 statewide, top 22%, 1,021 students, 25% FRL); Clackamas High School (math 52% / reading 67%, grade C+, #23 of 143 statewide, top 19%, 1,224 students, 27% FRL).
• Market conditions: Rents rising (+2.5%/yr); 124 active listings in the ZIP; 9 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).
• This rent runs 31% of the median local income ($87k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $760 of loan paydown is wiped out by about $3k 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 + 2.5% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 7y 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 $90k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $109,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 2.04% ✓
• Cap rate: 17.37%
• Cash-on-cash: 39.56%
• DSCR: 2.76
• GRM: 4.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.48% rent growth · sell at horizon

5-year hold

• IRR: 35.3%
• Equity multiple: 2.48×
• Total profit: $45,666
• Equity at exit: $16,386

10-year hold

• IRR: 41.8%
• Equity multiple: 4.85×
• Total profit: $118,353
• Equity at exit: $9,502

Cash invested: $30,772 (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 97015

• Rents YoY: 2.5%
• Active inventory: 124
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $2,245 high
• Mortgage (P&I): −$576
• Tax est. 1.5%: −$137 /mo · $1,648/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$472
• Net cashflow: $1,014

Break-even live

Break-even rent $961

Max offer price $109,900

Occupancy floor 50%

Sensitivity live

Price	-10% $1,090	-5% $1,052	+0% $1,014	+5% $976	+10% $938
Rent	-10% $837	-5% $926	+0% $1,014	+5% $1,103	+10% $1,192
Rate	-1.0pp $1,070	-0.5pp $1,042	base $1,014	+0.5pp $986	+1.0pp $957

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13300 SE Hubbard Rd Clackamas, OR	3.0	1.0–2.0	818	$1,987	$2.43	3d	6	0.37mi
12301 SE Hubbard Rd Clackamas, OR	2.0–3.0	1.0–2.0	936	$1,523	$1.63	11d	4	0.76mi
13898 SE Rogers Ln Clackamas, OR	3.0	2.0	1488	$2,599	$1.75	44d	1	0.91mi
14439 SE Oregon Trail Dr Clackamas, OR	3.0	2.0	1650	$2,615	$1.58	2d	1	0.99mi
14095 SE Summerfield Loop Happy Valley, OR	3.0	2.5	1453	$2,695	$1.85	44d	1	1.16mi
14154 SE Summerfield Loop Unit 14194 Happy Valley, OR	3.0	2.5	1125	$2,250	$2.00	25d	1	1.29mi
14194 SE Summerfield Loop Happy Valley, OR	3.0	2.5	1125	$2,250	$2.00	25d	1	1.29mi
13120 SE 128th Ave Happy Valley, OR	3.0	2.5	1861	$2,900	$1.56	44d	1	1.35mi
13777 SE 115th Ave Clackamas, OR	3.0	3.0	2088	$3,495	$1.67	25d	1	1.45mi

Listing history 12 events

1. 2026-06-01
   days on market $109,900 Active 11 DOM
2. 2026-05-31
   days on market $109,900 Active 10 DOM
3. 2026-05-21
   listed $109,900 Active
4. 2025-07-22
   listed $950
5. 2023-09-19
   soldstatus $90,000 Closed 576-char remark

   Show marketing remark (576 chars)

   **Shadowbrook 55 community.** Spacious living, Just over 1500sqft! Primary with soak tib and tons of closet space, Kitchen/Dining Combo opens to Family & Living Rooms. Lots of space, Built ins, and Charm! Home has been completely re-piped in 2020, Furnace/AC serviced in 2020, Privacy cedar fence 2018, Gutters 2014, New Wall Oven 2020, New carpet throughout 2022, Roof 2011. Tool Shed 9x12. Water metered monthly. Pool, Community center, library & RV parking available at the park. Space rent $1100 water, garbage,sewer separate, runs around $81 total for utilities.

6. 2023-09-14
   status Pending 576-char remark

   Show marketing remark (576 chars)

   **Shadowbrook 55 community.** Spacious living, Just over 1500sqft! Primary with soak tib and tons of closet space, Kitchen/Dining Combo opens to Family & Living Rooms. Lots of space, Built ins, and Charm! Home has been completely re-piped in 2020, Furnace/AC serviced in 2020, Privacy cedar fence 2018, Gutters 2014, New Wall Oven 2020, New carpet throughout 2022, Roof 2011. Tool Shed 9x12. Water metered monthly. Pool, Community center, library & RV parking available at the park. Space rent $1100 water, garbage,sewer separate, runs around $81 total for utilities.

7. 2023-09-14
   listed $99,000 Active 576-char remark

   Show marketing remark (576 chars)

   **Shadowbrook 55 community.** Spacious living, Just over 1500sqft! Primary with soak tib and tons of closet space, Kitchen/Dining Combo opens to Family & Living Rooms. Lots of space, Built ins, and Charm! Home has been completely re-piped in 2020, Furnace/AC serviced in 2020, Privacy cedar fence 2018, Gutters 2014, New Wall Oven 2020, New carpet throughout 2022, Roof 2011. Tool Shed 9x12. Water metered monthly. Pool, Community center, library & RV parking available at the park. Space rent $1100 water, garbage,sewer separate, runs around $81 total for utilities.

8. 2019-04-24
   soldstatus $97,900 Sold 389-char remark

   Show marketing remark (389 chars)

   The first thing you see is the expanse of deck and Custom made Glass front door. Distressed grey plank flooring and warm colors make the living room warm & inviting. Spacious formal Dining and A KITCHEN LIKE NO OTHER. Everything is new..Cabinets, Floors, Doors, Lighting, Countertops, etc... Not a typical lot with the feel of privacy. Huge deck, Nature Scaped Yard,and so much more.

9. 2019-03-21
   status Pending 389-char remark

   Show marketing remark (389 chars)

   The first thing you see is the expanse of deck and Custom made Glass front door. Distressed grey plank flooring and warm colors make the living room warm & inviting. Spacious formal Dining and A KITCHEN LIKE NO OTHER. Everything is new..Cabinets, Floors, Doors, Lighting, Countertops, etc... Not a typical lot with the feel of privacy. Huge deck, Nature Scaped Yard,and so much more.

10. 2019-03-15
    price $109,900 389-char remark

    Show marketing remark (389 chars)

    The first thing you see is the expanse of deck and Custom made Glass front door. Distressed grey plank flooring and warm colors make the living room warm & inviting. Spacious formal Dining and A KITCHEN LIKE NO OTHER. Everything is new..Cabinets, Floors, Doors, Lighting, Countertops, etc... Not a typical lot with the feel of privacy. Huge deck, Nature Scaped Yard,and so much more.

11. 2019-02-22
    listed $114,900 Active 389-char remark

    Show marketing remark (389 chars)

    The first thing you see is the expanse of deck and Custom made Glass front door. Distressed grey plank flooring and warm colors make the living room warm & inviting. Spacious formal Dining and A KITCHEN LIKE NO OTHER. Everything is new..Cabinets, Floors, Doors, Lighting, Countertops, etc... Not a typical lot with the feel of privacy. Huge deck, Nature Scaped Yard,and so much more.

12. 1997-08-29
    soldstatus $5,157,727

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 14 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,946
• − Mortgage interest: −$6,156
• − Property taxes: −$1,648
• − Insurance: −$550
• − Repairs & maintenance: −$2,156
• − Management: −$2,156
• − Depreciation: −$3,197
• Taxable income: $11,083
• Est. tax owed @ 24.0%: −$2,660
• After-tax cash flow: $9,513/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 — Happy Valley

• Score: 76/100
• State rank: #76
• US rank: #3386

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Clackamas County · 361,406 people
• City population: 34,567
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 24,433
• Household income: $87,333
• Rent vs Own: 36.0% rent · 64.0% own
• Severe rent burden: 1166.0

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 (66%)
• Race & ethnicity: White 66% Hispanic / Latino 15% Two or more races 12% Asian 11% Black 2%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Italian 4% Scotch-Irish 4% Lithuanian 3%
• Foreign-born: 15% · Canada, China, Vietnam
• Languages at home: 74% English-only · Spanish 11% Chinese 5% Russian/Polish/Slavic 3%

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: ▼ -170.50%
• Current HPI: 295.7295
• Rent YoY: ▲ 2.48%
• 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

-97.9% since first listed

10 events — show timeline

• 2026-05-21 Listed $109,900 RMLS
• 2025-07-22 Listed for Rent $950 REDFIN
• 2023-09-19 Sold (MLS) $90,000 RMLS
• 2023-09-14 Pending — RMLS
• 2023-09-14 Listed $99,000 RMLS
• 2019-04-24 Sold (MLS) $97,900 RMLS
• 2019-03-21 Pending — RMLS
• 2019-03-15 Price Changed $109,900 RMLS
• 2019-02-22 Listed $114,900 RMLS
• 1997-08-29 Sold (Public Records) $5,157,727 Public Records

Property tax history

+41.1%/yr

Latest (2025): $80,293 · +3.7% YoY. Source: county tax records.