15768 SE Powell Blvd #22 · Portland, OR 97236

$124,900

3 bd · 2.0 ba · 1,232 sqft · Manufactured public records · 5 Days on market

Built 1993 Est $92k · 35% over

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Why this score? — see what drove the C+ 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 +9.0/10.0
• Livability +3.9/5.0
• Schools +3.5/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is what you've been waiting for. Amazing artistic design & finishes all with function in mind. You'll love the shimmering Quartz countertops and the expansive island/bar. Soft close cabinets and an abundance of them for all your storage needs. The primary bedroom features an en-suite with tile shower, Rain shower head & body spray. And for a little fun, the lighting is over the top with all new incandescent, LED and chandeliers! And on top of it all, we have a garage!

Key facts

• Commuter routes
• Open-concept layout
• 2 garage spots

Tags

• OPEN-CONCEPT LAYOUT
• OVERSIZED GARAGE SHOP
• MILES OF NEARBY TRAILS
• COMMUTER ROUTES

Property features AI

Finance

• Other: Unit dimensions approximately 43 ft by 28 ft; Main level living area approximately 1,232 (unit measures provided); Model name unknown
• HOA & community: Located in Parkway Estate mobile home park; Park is not a designated senior community; Lot rent listed (monthly)

Exterior

• Parking: Attached 2-car garage; On-street parking available (total 2 parking spaces)
• Utilities: Public water; Public sewer; Electric power
• Home design: Manufactured home in park (Residential); Single-level living; No notable view; Entry/main level living
• Construction: Built in 1993; Composition roof; Skirting foundation; Manufactured by REDMAN
• Exterior features: Covered deck and deck; Tool shed; Yard; Level lot; Paved road access; T-111 siding

Interior

• Kitchen: Island; Quartz countertops; Dishwasher; Free-standing range; Microwave; Free-standing refrigerator; Stainless steel appliances
• Bedrooms: Primary bedroom on main level; Second bedroom on main level; Third bedroom
• Flooring: Laminate flooring
• Bathrooms: Two full bathrooms (both on main level)
• Heating & cooling: Forced air heating; Heat pump cooling; Electric fuel
• Interior features: Updated/remodeled interior; Granite surfaces; Laminate flooring; Vaulted ceilings; Double pane windows with vinyl frames; Crawl space basement/skirting; Accessible design with minimal steps and one-level living
• Laundry & utility: Washer and dryer included; Laundry area; Electric hot water

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $616 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Cap rate 12.2% vs local median 2.2% in Portland — 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 77/100 on livability (#72 in OR, #3,256 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: crime F, cost of living F.
• Centennial SD 28J (suburban): math 31% / reading 43% proficiency, ranked #125 of 183 in OR (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Powell Butte Elementary School (385 students, 70% FRL); Centennial Middle School (876 students, 68% FRL); Centennial High School (1,756 students, 65% FRL).
• Market conditions: Rents rising (+1.6%/yr); 204 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,041 units permitted in Multnomah County in 2024 (905 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Multnomah County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $35k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 29y 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 flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $124,900

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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.40% ✓
• Cap rate: 12.21%
• Cash-on-cash: 21.13%
• DSCR: 1.94
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $92,400
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15768 SE Powell Blvd #45	0.05mi	3/2.0	1,232 (0%)	14mo	$93,000	$75	86
16000 SE Powell Blvd #12	0.12mi	3/2.0	1,152 (-6%)	11mo	$124,000	$108	75
16000 SE Powell Blvd #16	0.11mi	3/2.0	1,404 (+14%)	8mo	$69,985	$50	65

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.64% rent growth · sell at horizon

5-year hold

• IRR: 12.1%
• Equity multiple: 1.47×
• Total profit: $16,584
• Equity at exit: $18,623

10-year hold

• IRR: 20.0%
• Equity multiple: 2.58×
• Total profit: $55,389
• Equity at exit: $10,799

Cash invested: $34,972 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State Oregon: 28 Tenant-Leaning · D+6
• County: — inherits STATE
• City Portland: 0 Strongly Tenant-Friendly · D+39

Mandatory relocation for no-cause evictions; rent increase notice 90 days.

Methodology + full state rankings →

ZIP-level market 97236

• Rents YoY: 1.6%
• Active inventory: 204
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,744 high
• Mortgage (P&I): −$655
• Tax from tax record: −$55 /mo · $659/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $616

Break-even live

Break-even rent $964

Max offer price $124,900

Occupancy floor 60%

Sensitivity live

Price	-10% $686	-5% $651	+0% $616	+5% $580	+10% $545
Rent	-10% $478	-5% $547	+0% $616	+5% $685	+10% $753
Rate	-1.0pp $679	-0.5pp $647	base $616	+0.5pp $583	+1.0pp $550

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3332 SE 157th Ave Portland, OR	3.0	1.0	1000	$2,495	$2.50	44d	1	0.23mi
15139 SE Powell Blvd Unit 08 Portland, OR	2.0	1.5	780	$1,450	$1.86	5d	1	0.32mi
15139 SE Powell Blvd Unit 23 Portland, OR	2.0	1.5	780	$1,500	$1.92	44d	1	0.32mi
15075 SE Powell Blvd Portland, OR	3.0	3.5	1500	$2,295	$1.53	5d	3	0.37mi
15075 SE Powell Blvd Apt 4 Portland, OR	3.0	3.5	1500	$2,395	$1.60	44d	1	0.37mi
15007 SE Powell Blvd Apt 11 Portland, OR	2.0	1.0	864	$1,475	$1.71	44d	1	0.38mi
15007 SE Powell Blvd Unit 01 Portland, OR	2.0	1.0	806	$1,450	$1.80	8d	1	0.38mi
14919 SE Powell Blvd Unit 14919 Portland, OR	2.0	1.0	823	$1,595	$1.94	8d	1	0.41mi
3318 SE 148th Ave Portland, OR	2.0	1.5	950	$1,750	$1.84	18d	1	0.47mi
16804 SE Powell Blvd Portland, OR	2.0	2.0	1101	$1,625	$1.48	11d	1	0.60mi
16804 SE Powell Blvd Portland, OR	2.0	2.0	1070	$1,675	$1.57	15d	1	0.60mi
16804 SE Powell Blvd Unit 12-102 Portland, OR	2.0	2.0	1070	$1,725	$1.61	22d	1	0.60mi
16804 SE Powell Blvd Unit 18-201 Portland, OR	2.0	2.0	1070	$1,675	$1.57	22d	1	0.60mi
16804 SE Powell Blvd Unit 08-202 Portland, OR	2.0	2.0	1070	$1,395	$1.30	22d	1	0.60mi
2675 SE 162nd Ave Portland, OR	1.0–2.0	1.0	689	$1,495	$2.17	13d	1	0.61mi
16824 SE Powell Blvd Portland, OR	2.0	2.0	1070	$1,720	$1.61	5d	5	0.61mi
16811 SE Francis St Portland, OR	3.0	1.0	1488	$2,600	$1.75	15d	1	0.62mi
15812 SE Division St Portland, OR	2.0	1.0	836	$1,095	$1.31	44d	1	0.63mi
16916 SE Powell Blvd Portland, OR	2.0	2.0	1070	$1,695	$1.58	44d	1	0.64mi
15790 SE Division St Portland, OR	2.0	1.0	836	$1,095	$1.31	11d	1	0.65mi
15774 SE Division St Portland, OR	2.0	1.0	836	$1,095	$1.31	11d	1	0.65mi
14992 SE Division St Unit 2 Bedroom Portland, OR	2.0	1.0	768	$1,300	$1.69	44d	1	0.67mi
14992 SE Division St Unit 3 Bedroom Portland, OR	3.0	1.0	909	$1,350	$1.49	44d	1	0.67mi
14992 SE Division St Portland, OR	1.0–3.0	1.0	726	$1,350	$1.86	17d	3	0.67mi
3414 SE 143rd Ave Portland, OR	2.0	2.0	1000	$1,650	$1.65	8d	2	0.69mi
15301-15353 SE Division St Unit 15301 Portland, OR	2.0	1.5	1000	$1,500	$1.50	44d	1	0.69mi
2641 SE 168th Ave Portland, OR	3.0	1.5	1144	$2,700	$2.36	44d	1	0.82mi
2645 SE 145th Ave Portland, OR	2.0	1.0	780	$1,250	$1.60	8d	1	0.82mi
2609 SE 145th Ave Unit C-19 Portland, OR	3.0	1.5	1117	$1,499	$1.34	18d	1	0.83mi
2609 SE 145th Ave Unit A-09 Portland, OR	2.0	1.0	750	$1,299	$1.73	24d	1	0.83mi
2609 SE 145th Ave Unit H-77 Portland, OR	3.0	1.5	1117	$1,504	$1.35	18d	1	0.83mi
2609 SE 145th Ave Unit E-39 Portland, OR	2.0	1.0	750	$1,299	$1.73	44d	1	0.83mi
13938 SE Powell Blvd Unit 2 Portland, OR	2.0	1.0	900	$1,535	$1.71	44d	1	0.87mi
17310 SE Naegeli Dr Portland, OR	2.0	2.0	990	$1,562	$1.58	2d	5	0.88mi
17442 SE Powell Blvd Portland, OR	2.0	1.0	729	$1,075	$1.47	11d	1	0.92mi
2541-2545 SE 170th Ave Unit 2543 Portland, OR	2.0	1.5	832	$1,695	$2.04	24d	1	0.92mi
17450 SE Powell Blvd Portland, OR	2.0	1.0	729	$1,075	$1.47	21d	1	0.93mi
17468 SE Powell Blvd Portland, OR	2.0	1.0	729	$1,075	$1.47	21d	1	0.93mi
13746 SE Powell Blvd Portland, OR	2.0–3.0	1.0	763	$1,325	$1.74	4d	2	0.97mi
2621 SE 174th Ave Unit A Portland, OR	3.0	1.5	836	$1,650	$1.97	15d	1	1.02mi

Listing history 7 events

1. 2026-05-21
   listed $124,900 Active
2. 2022-05-16
   soldstatus $179,000 Sold 490-char remark

   Show marketing remark (490 chars)

   This is what you've been waiting for. Amazing artistic design & finishes all with function in mind. You'll love the shimmering Quartz countertops and the expansive island/bar. Soft close cabinets and an abundance of them for all your storage needs. The primary bedroom features an en-suite with tile shower, Rain shower head & body spray. And for a little fun, the lighting is over the top with all new incandescent, LED and chandeliers! And on top of it all, we have a garage!

3. 2022-04-15
   status Pending 490-char remark

   Show marketing remark (490 chars)

   This is what you've been waiting for. Amazing artistic design & finishes all with function in mind. You'll love the shimmering Quartz countertops and the expansive island/bar. Soft close cabinets and an abundance of them for all your storage needs. The primary bedroom features an en-suite with tile shower, Rain shower head & body spray. And for a little fun, the lighting is over the top with all new incandescent, LED and chandeliers! And on top of it all, we have a garage!

4. 2022-04-12
   historical Active with Bumpable Contingency 490-char remark

   Show marketing remark (490 chars)

   This is what you've been waiting for. Amazing artistic design & finishes all with function in mind. You'll love the shimmering Quartz countertops and the expansive island/bar. Soft close cabinets and an abundance of them for all your storage needs. The primary bedroom features an en-suite with tile shower, Rain shower head & body spray. And for a little fun, the lighting is over the top with all new incandescent, LED and chandeliers! And on top of it all, we have a garage!

5. 2022-03-06
   listed $179,000 Active 490-char remark

   Show marketing remark (490 chars)

   This is what you've been waiting for. Amazing artistic design & finishes all with function in mind. You'll love the shimmering Quartz countertops and the expansive island/bar. Soft close cabinets and an abundance of them for all your storage needs. The primary bedroom features an en-suite with tile shower, Rain shower head & body spray. And for a little fun, the lighting is over the top with all new incandescent, LED and chandeliers! And on top of it all, we have a garage!

6. 1998-04-23
   soldstatus $47,500 190-char remark

   Show marketing remark (190 chars)

   IMMEDIATE OCCUPANCY! 3 BDRM 2 BTH NEWER MANUFACTURED HOME IN CONVEN- IENT LOCATION. LOTS OF EXTRAS - ENERGY PACKAGE, CUSTOM DECKS, LARGE MASTER BEDRM WITH LARGE WALK-IN CLOSET. OUTSTANDING!!

7. 1997-12-15
   listed $49,900 190-char remark

   Show marketing remark (190 chars)

   IMMEDIATE OCCUPANCY! 3 BDRM 2 BTH NEWER MANUFACTURED HOME IN CONVEN- IENT LOCATION. LOTS OF EXTRAS - ENERGY PACKAGE, CUSTOM DECKS, LARGE MASTER BEDRM WITH LARGE WALK-IN CLOSET. OUTSTANDING!!

ⓘ 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: $659 · $55/mo
• Projected year-2 tax: $1,212 · $101/mo
• Expected delta: +$553/yr (+$46/mo · 83.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 23 unhealthy d/yr today · 27 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,926
• − Mortgage interest: −$6,996
• − Property taxes: −$659
• − Insurance: −$624
• − Repairs & maintenance: −$1,674
• − Management: −$1,674
• − Depreciation: −$3,633
• Taxable income: $5,665
• Est. tax owed @ 24.0%: −$1,360
• After-tax cash flow: $6,029/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: Centennial SD 28J
• NCES district ID: 4102800
• Math proficiency: 31% ▼ -2.00%
• Reading proficiency: 43% ▼ -2.00%
• Median HH income: $49,619
• Composite: 34.5/100
• National rank: #10133
• State rank: #125 of 183 in OR

Livability — Portland

• Score: 77/100
• State rank: #72
• US rank: #3256

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Portland, OR
• County: Multnomah County · 786,692 people
• City population: 774,334
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 37,558
• Household income: $75,090
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 1744.0

Population outlook (Multnomah County) Hauer SSP2

• Today (2025): 930,825 people
• By 2030: 996,904 · +7.1%
• By 2040: 1,121,379 · +20.5%
• By 2050: 1,242,124 · +33.4%
• By 2075: 1,464,431 · +57.3%
• By 2100: 1,576,181 · +69.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 51% Hispanic / Latino 21% Asian 13% Two or more races 12% Black 9% Pacific Islander 1%
• Hispanic origin (detail): Mexican 15% Cuban 1%
• Common ancestry: Italian 3% Scotch-Irish 2% Subsaharan African 2%
• Foreign-born: 25% · Canada, Vietnam, China
• Languages at home: 63% English-only · Spanish 16% Vietnamese 6% Russian/Polish/Slavic 5%

Political lean MEDSL · Multnomah

• 2024 margin: Solid D (+62.1) · D 79.3% · R 17.2% · Other 3.5%
• 2008→2024 swing: +6.0pp toward D · 2008: 56.1pp · 2024: 62.1pp
• All cycles: 2024: D+62.1 2020: D+61.3 2016: D+58.3 2012: D+54.9 2008: D+56.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -334.44%
• Current HPI: 289.931
• Rent YoY: ▲ 1.64%
• 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

+150.3% since first listed

7 events — show timeline

• 2026-05-21 Listed $124,900 RMLS
• 2022-05-16 Sold (MLS) $179,000 RMLS
• 2022-04-15 Pending — RMLS
• 2022-04-12 Contingent — RMLS
• 2022-03-06 Listed $179,000 RMLS
• 1998-04-23 Sold (MLS) $47,500 RMLS
• 1997-12-15 Listed $49,900 RMLS

Property tax history

+0.1%/yr

Latest (2025): $659 · +10.0% YoY. Source: county tax records.