32700 SE Leewood Ln #3 · Boring, OR 97009

$200,000

3 bd · 2.0 ba · 960 sqft · Other · 59 Days on market

Built 2010

---

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
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A must see home on the creek with a beach area, fire pit, saloon, enclosed hot tub and multiple decks. This adorable 3 bedroom, 2 bath home has 960sqft, a garage/man cave and carport. Multiple storage units. Come home and relax on the back deck, BBQ and listen to the creek below. Great for entertaining family or friends with multiple decks and patios includes newer refrigerator and washer and dryer.

Key facts

• Multiple decks
• Fire pit
• Handy carport

Tags

• MULTIPLE DECKS
• FIRE PIT
• ENCLOSED SALT WATER HOT TUB
• PLENTY OF STORAGE AREAS
• DETACHED GARAGE
• HANDY CARPORT

Property features AI

Finance

• Other: Lot features include leased land, stream, and trees; Paved road access
• Financial info: Land lease present; lease expires December 31, 2026; Monthly lot rent
• HOA & community: Community amenities: commons, gym, meeting/party room, road maintenance, grounds maintenance, snow removal, trash, water, sewer; Pet restrictions: contact park; Located in Big Valley Woods park; Land lease (leased land) with monthly lot rent

Exterior

• Parking: Carport; Driveway; Detached 1-car garage
• Utilities: Community water; Community sewer; Electricity (fuel); Cable internet
• Home design: Manufactured home in park (residential); Single-story (main level living); View of creek and trees
• Construction: Built in 2010; Composition roof; Skirting foundation
• Exterior features: Built-in hot tub; Covered deck; Covered patio; Deck; Fire pit; Outbuilding; Tool shed; Workshop; Yard; Creek on the property; Trees/wooded view; Wood siding

Interior

• Kitchen: Kitchen with eating area; Dishwasher; Free-standing range; Free-standing refrigerator; Microwave; Pantry
• Bedrooms: Primary bedroom with attached bathroom and walk-in closet (main level); Second bedroom (main level); Third bedroom (main level)
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Heat pump for heating and cooling; Electric hot water
• Interior features: Garage door opener; High-speed internet; Vaulted ceilings; Washer and dryer hookup; Crawl space basement; Double-pane windows with vinyl frames
• Laundry & utility: Laundry area with washer/dryer hookups

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $200k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $194k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Oregon Trail SD 46 (town): math 47% / reading 64% proficiency, ranked #12 of 183 in OR (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Naas Elementary School (345 students, 47% FRL); Boring Middle School (405 students, 34% FRL); Sandy High School (1,440 students, 32% FRL) — zoned schools at 38% FRL track the district average.
• Market conditions: 38 active listings in the ZIP; 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 $1k of loan paydown is wiped out by about $6k 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 + 3.0% rent growth), your $56k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $194,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 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: 1.44% ✓
• Cap rate: 12.79%
• Cash-on-cash: 23.21%
• DSCR: 2.03
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 16.2%
• Equity multiple: 1.65×
• Total profit: $36,508
• Equity at exit: $29,821

10-year hold

• IRR: 24.8%
• Equity multiple: 3.15×
• Total profit: $120,327
• Equity at exit: $17,292

Cash invested: $56,000 (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 97009

• Active inventory: 38
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $2,879 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$59 /mo · $710/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$605
• Net cashflow: $1,083

Break-even live

Break-even rent $1,508

Max offer price $200,000

Occupancy floor 57%

Sensitivity live

Price	-10% $1,196	-5% $1,140	+0% $1,083	+5% $1,027	+10% $970
Rent	-10% $856	-5% $969	+0% $1,083	+5% $1,197	+10% $1,311
Rate	-1.0pp $1,184	-0.5pp $1,134	base $1,083	+0.5pp $1,031	+1.0pp $979

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-21
   days on market $200,000 Active 59 DOM
2. 2026-06-18
   days on market $200,000 Active 56 DOM
3. 2026-06-17
   days on market $200,000 Active 55 DOM
4. 2026-06-16
   days on market $200,000 Active 54 DOM
5. 2026-06-15
   days on market $200,000 Active 53 DOM
6. 2026-06-13
   days on market $200,000 Active 51 DOM
7. 2026-06-13
   days on market $200,000 Active 50 DOM
8. 2026-06-09
   days on market $200,000 Active 47 DOM
9. 2026-06-08
   days on market $200,000 Active 46 DOM
10. 2026-06-07
    days on market $200,000 Active 45 DOM
11. 2026-06-03
    days on market $200,000 Active 41 DOM
12. 2026-06-02
    days on market $200,000 Active 40 DOM
13. 2026-06-01
    days on market $200,000 Active 39 DOM
14. 2026-05-31
    days on market $200,000 Active 38 DOM
15. 2026-04-23
    listed $210,000 Active 648-char remark
16. 2023-06-29
    soldstatus $230,000 Closed 402-char remark

    Show marketing remark (402 chars)

    A must see home on the creek with a beach area, fire pit, saloon, enclosed hot tub and multiple decks. This adorable 3 bedroom, 2 bath home has 960sqft, a garage/man cave and carport. Multiple storage units. Come home and relax on the back deck, BBQ and listen to the creek below. Great for entertaining family or friends with multiple decks and patios includes newer refrigerator and washer and dryer.

17. 2023-05-31
    status Pending 402-char remark

    Show marketing remark (402 chars)

    A must see home on the creek with a beach area, fire pit, saloon, enclosed hot tub and multiple decks. This adorable 3 bedroom, 2 bath home has 960sqft, a garage/man cave and carport. Multiple storage units. Come home and relax on the back deck, BBQ and listen to the creek below. Great for entertaining family or friends with multiple decks and patios includes newer refrigerator and washer and dryer.

18. 2023-05-26
    listed $225,000 Active 402-char remark

    Show marketing remark (402 chars)

    A must see home on the creek with a beach area, fire pit, saloon, enclosed hot tub and multiple decks. This adorable 3 bedroom, 2 bath home has 960sqft, a garage/man cave and carport. Multiple storage units. Come home and relax on the back deck, BBQ and listen to the creek below. Great for entertaining family or friends with multiple decks and patios includes newer refrigerator and washer and dryer.

19. 2020-02-14
    soldstatus $128,000 Sold

    Show marketing remark (433 chars)

    Come home to relax in this beautiful manufactured home. Built in 2010, this 960sqft home w/man cave detached garage includes all new top of the line flooring, updated kitchen, new sheetrock walls, high vaulted ceilings, new doors/closet doors, & more. This home has a unique & lovely backyard perfect for entertaining that backs up to a creek. Yard includes hot tub, bar/saloon, & 2 storage units. Huge incentive bonus!!!

20. 2020-01-14
    status Pending

    Show marketing remark (433 chars)

    Come home to relax in this beautiful manufactured home. Built in 2010, this 960sqft home w/man cave detached garage includes all new top of the line flooring, updated kitchen, new sheetrock walls, high vaulted ceilings, new doors/closet doors, & more. This home has a unique & lovely backyard perfect for entertaining that backs up to a creek. Yard includes hot tub, bar/saloon, & 2 storage units. Huge incentive bonus!!!

21. 2020-01-01
    historical Active with Bumpable Contingency

    Show marketing remark (433 chars)

    Come home to relax in this beautiful manufactured home. Built in 2010, this 960sqft home w/man cave detached garage includes all new top of the line flooring, updated kitchen, new sheetrock walls, high vaulted ceilings, new doors/closet doors, & more. This home has a unique & lovely backyard perfect for entertaining that backs up to a creek. Yard includes hot tub, bar/saloon, & 2 storage units. Huge incentive bonus!!!

22. 2019-12-30
    price $134,800

    Show marketing remark (433 chars)

    Come home to relax in this beautiful manufactured home. Built in 2010, this 960sqft home w/man cave detached garage includes all new top of the line flooring, updated kitchen, new sheetrock walls, high vaulted ceilings, new doors/closet doors, & more. This home has a unique & lovely backyard perfect for entertaining that backs up to a creek. Yard includes hot tub, bar/saloon, & 2 storage units. Huge incentive bonus!!!

23. 2019-12-23
    price $134,900

    Show marketing remark (433 chars)

    Come home to relax in this beautiful manufactured home. Built in 2010, this 960sqft home w/man cave detached garage includes all new top of the line flooring, updated kitchen, new sheetrock walls, high vaulted ceilings, new doors/closet doors, & more. This home has a unique & lovely backyard perfect for entertaining that backs up to a creek. Yard includes hot tub, bar/saloon, & 2 storage units. Huge incentive bonus!!!

24. 2019-11-18
    price $135,000

    Show marketing remark (433 chars)

    Come home to relax in this beautiful manufactured home. Built in 2010, this 960sqft home w/man cave detached garage includes all new top of the line flooring, updated kitchen, new sheetrock walls, high vaulted ceilings, new doors/closet doors, & more. This home has a unique & lovely backyard perfect for entertaining that backs up to a creek. Yard includes hot tub, bar/saloon, & 2 storage units. Huge incentive bonus!!!

25. 2019-10-23
    listed $149,900 Active

    Show marketing remark (433 chars)

    Come home to relax in this beautiful manufactured home. Built in 2010, this 960sqft home w/man cave detached garage includes all new top of the line flooring, updated kitchen, new sheetrock walls, high vaulted ceilings, new doors/closet doors, & more. This home has a unique & lovely backyard perfect for entertaining that backs up to a creek. Yard includes hot tub, bar/saloon, & 2 storage units. Huge incentive bonus!!!

ⓘ 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: $710 · $59/mo
• Projected year-2 tax: $1,940 · $162/mo
• Expected delta: +$1,230/yr (+$102/mo · 173.1%)

ⓘ 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 5/10 Major
• 🌡 Heat 2/10 Low 7 d/yr ≥90°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 11 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,551
• − Mortgage interest: −$11,203
• − Property taxes: −$710
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,764
• − Management: −$2,764
• − Depreciation: −$5,818
• Taxable income: $10,291
• Est. tax owed @ 24.0%: −$2,470
• After-tax cash flow: $10,529/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: Oregon Trail SD 46
• NCES district ID: 4110890
• Math proficiency: 47% ▬ 0.00%
• Reading proficiency: 64% ▲ 1.00%
• Median HH income: $61,406
• Composite: 50.19/100
• National rank: #4075
• State rank: #12 of 183 in OR

Livability — Boring

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 7,877

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 (73%)
• Race & ethnicity: White 73% Hispanic / Latino 18% Two or more races 14% Asian 1%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Portuguese 3% Slovak 3% Iranian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 91% English-only · Spanish 7% Other Indo-European 2%

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: ▼ -238.15%
• Current HPI: 307.0405
• Rent YoY: —
• Metro: —
• 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

+33.4% since first listed

12 events — show timeline

• 2026-05-26 Price Changed $200,000 RMLS
• 2026-04-23 Listed $210,000 RMLS
• 2023-06-29 Sold (MLS) $230,000 RMLS
• 2023-05-31 Pending — RMLS
• 2023-05-26 Listed $225,000 RMLS
• 2020-02-14 Sold (MLS) $128,000 RMLS
• 2020-01-14 Pending — RMLS
• 2020-01-01 Contingent — RMLS
• 2019-12-30 Price Changed $134,800 RMLS
• 2019-12-23 Price Changed $134,900 RMLS
• 2019-11-18 Price Changed $135,000 RMLS
• 2019-10-23 Listed $149,900 RMLS

Property tax history

+3.2%/yr

Latest (2025): $710 · +4.6% YoY. Source: county tax records.