32700 SE Leewood Ln Unit 16B · Boring, OR 97009

$203,000

3 bd · 2.0 ba · 1,172 sqft · Other public records · 37 Days on market

Built 2017 $173/sqft · 78% above area

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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
• 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

Welcome to your dream home in Big Valley Woods Park! This charming 3-bedroom, 2-bath Fleetwood home (2017) offers 1,172 sq ft of comfort in a peaceful setting. Enjoy modern features like a tankless water heater, a new LG French door refrigerator, a stackable washer/dryer, and a newly installed heat pump for year-round comfort. Outside, there's a spacious 24x20 insulated garage, extra side parking, and an 8x10 storage shed. Relax on the front covered porch or the back 8x16 deck with forest views. With RV/boat hookups, trails, ponds, wildlife, a clubhouse, and more, this $1250/month space rent (water, sewer, garbage included) offers unbeatable value in a serene, nature-filled community.

Key facts

• Heat pump
• Recreation room
• Fitness room

Tags

• TANKLESS WATER HEATER
• HEAT PUMP
• 8X10 STORAGE SHED
• OVERSIZED INSULATED GARAGE
• RECREATION ROOM
• FITNESS ROOM

Property features AI

Finance

• Other: Property is resale; Main level area approximately 1,172 (owner)
• Financial info: Land lease not indicated; Rental space fee noted as $1,320 per month
• HOA & community: Community commons; Meeting room; Recreation facilities; Located in Big Valley Woods park; Monthly rental space fee applies

Exterior

• Parking: Driveway; RV parking; Detached 1-car garage; Total parking for 1 vehicle
• Security: Entry security feature
• Utilities: Electric fuel; Community water; Community sewer; Cable and fiber optics internet available
• Home design: Manufactured home in a park (Fleetwood); Single-story / main level living; Trees/woods view
• Construction: Built in 2017; Cement siding and T-111 siding; Composition roof; Crawl space foundation
• Exterior features: Deck; Tool shed; Workshop; Public road access; Wooded lot

Interior

• Kitchen: Built-in oven; Built-in range; Cook island; Dishwasher; Free-standing range
• Bedrooms: Primary bedroom on main level with attached bathroom and walk-in closet; Second bedroom on main level; Third bedroom on main level
• Flooring: Vinyl flooring
• Bathrooms: Two full bathrooms, both on the main level
• Heating & cooling: Heat pump heating; Central air conditioning; Heat pump cooling
• Interior features: Ceiling fans in primary bedroom and living areas; Garage door opener; High-speed internet available; Washer and dryer present; Water softener; Pellet stove; Double-pane windows with vinyl frames; Crawl space
• Laundry & utility: Washer and dryer included; Electric hot water

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $203k.

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 $203k).
• Recommended offer: $197k (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 $57k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 $196,910 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 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: 12.64%
• Cash-on-cash: 22.66%
• DSCR: 2.01
• GRM: 5.8

CMA / ARV

• ARV (median comp): $114,105
• List price: $203,000
• Delta: 77.91%
• Verdict: OVERPRICED
• Comps: 9 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 15.5%
• Equity multiple: 1.62×
• Total profit: $35,400
• Equity at exit: $30,268

10-year hold

• IRR: 24.2%
• Equity multiple: 3.09×
• Total profit: $118,607
• Equity at exit: $17,552

Cash invested: $56,840 (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: $2,926 medium
• Mortgage (P&I): −$1,065
• Tax from tax record: −$89 /mo · $1,070/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$614
• Net cashflow: $1,073

Break-even live

Break-even rent $1,567

Max offer price $203,000

Occupancy floor 58%

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: $50,750
• Closing costs: $6,090
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-07
   statusdays on market $203,000 Pending 37 DOM
2. 2026-06-03
   days on market $203,000 Active 34 DOM
3. 2026-06-02
   days on market $203,000 Active 33 DOM
4. 2026-06-01
   days on market $203,000 Active 32 DOM
5. 2026-05-31
   days on market $203,000 Active 31 DOM
6. 2026-05-14
   price $203,000 1008-char remark
7. 2026-04-30
   listed $211,500 Active 1008-char remark
8. 2024-12-06
   soldstatus $193,400 Closed 693-char remark

   Show marketing remark (693 chars)

   Welcome to your dream home in Big Valley Woods Park! This charming 3-bedroom, 2-bath Fleetwood home (2017) offers 1,172 sq ft of comfort in a peaceful setting. Enjoy modern features like a tankless water heater, a new LG French door refrigerator, a stackable washer/dryer, and a newly installed heat pump for year-round comfort. Outside, there's a spacious 24x20 insulated garage, extra side parking, and an 8x10 storage shed. Relax on the front covered porch or the back 8x16 deck with forest views. With RV/boat hookups, trails, ponds, wildlife, a clubhouse, and more, this $1250/month space rent (water, sewer, garbage included) offers unbeatable value in a serene, nature-filled community.

9. 2024-11-06
   status Pending 693-char remark

   Show marketing remark (693 chars)

   Welcome to your dream home in Big Valley Woods Park! This charming 3-bedroom, 2-bath Fleetwood home (2017) offers 1,172 sq ft of comfort in a peaceful setting. Enjoy modern features like a tankless water heater, a new LG French door refrigerator, a stackable washer/dryer, and a newly installed heat pump for year-round comfort. Outside, there's a spacious 24x20 insulated garage, extra side parking, and an 8x10 storage shed. Relax on the front covered porch or the back 8x16 deck with forest views. With RV/boat hookups, trails, ponds, wildlife, a clubhouse, and more, this $1250/month space rent (water, sewer, garbage included) offers unbeatable value in a serene, nature-filled community.

10. 2024-09-18
    listed $199,000 Active 693-char remark

    Show marketing remark (693 chars)

    Welcome to your dream home in Big Valley Woods Park! This charming 3-bedroom, 2-bath Fleetwood home (2017) offers 1,172 sq ft of comfort in a peaceful setting. Enjoy modern features like a tankless water heater, a new LG French door refrigerator, a stackable washer/dryer, and a newly installed heat pump for year-round comfort. Outside, there's a spacious 24x20 insulated garage, extra side parking, and an 8x10 storage shed. Relax on the front covered porch or the back 8x16 deck with forest views. With RV/boat hookups, trails, ponds, wildlife, a clubhouse, and more, this $1250/month space rent (water, sewer, garbage included) offers unbeatable value in a serene, nature-filled community.

ⓘ 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: $1,070 · $89/mo
• Projected year-2 tax: $1,969 · $164/mo
• Expected delta: +$899/yr (+$75/mo · 84.1%)

ⓘ 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: $35,111
• − Mortgage interest: −$11,371
• − Property taxes: −$1,070
• − Insurance: −$1,015
• − Repairs & maintenance: −$2,809
• − Management: −$2,809
• − Depreciation: −$5,905
• Taxable income: $10,132
• Est. tax owed @ 24.0%: −$2,432
• After-tax cash flow: $10,447/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

+2.0% since first listed

6 events — show timeline

• 2026-06-07 Pending — RMLS
• 2026-05-14 Price Changed $203,000 RMLS
• 2026-04-30 Listed $211,500 RMLS
• 2024-12-06 Sold (MLS) $193,400 RMLS
• 2024-11-06 Pending — RMLS
• 2024-09-18 Listed $199,000 RMLS

Property tax history

+3.3%/yr

Latest (2025): $1,070 · +4.6% YoY. Source: county tax records.