1655 S Elm St #302 · Canby, OR 97013

$189,000

3 bd · 2.0 ba · 1,188 sqft · Condo · 44 Days on market

Built 1997

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• 1% rule +5.4/10.0
• Livability +4.1/5.0
• Schools +3.6/10.0
• Cash flow +3.0/30.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful new kitchen, soft close cabinets, top grade vinyl, fresh paint inside and out, new laminate floors throughout, double car garage, parking in driveway fits 3 cars with fully fenced back yard.Needs a little finish work but the house is nice!

Key facts

• New plumbing
• Private laundry
• Fenced yard

Tags

• PRIVATE LAUNDRY
• VAULTED CEILINGS
• SPACIOUS PRIMARY SUITE
• OVERSIZED GARAGE
• FENCED YARD
• NEW PLUMBING

Property features AI

Finance

• Financial info: Monthly lot rent: $1,050; Land lease in effect (expires December 31, 2026)
• HOA & community: Manufactured home in a park with monthly lot rent

Exterior

• Parking: Detached 2-car garage; Total parking for 2 vehicles
• Utilities: Electricity fuel; Public water; Public sewer
• Home design: Manufactured home in park; Residential resale; Single-story (main living area on one level); No notable view
• Construction: Built in 1997; T-111 siding construction; Composition roof; Foundation information not provided
• Exterior features: Fenced yard; T-111 siding; Composition roof

Interior

• Kitchen: Dishwasher; Free-standing range; Free-standing refrigerator; Microwave
• Bedrooms: Primary bedroom (Main level); Second bedroom (Main level); Third bedroom (Main level)
• Flooring: Laminate flooring; Vinyl flooring
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Forced air heating; Window cooling unit(s)
• Interior features: Ceiling fans; Garage door opener; Skylight(s); Vaulted ceilings; Laminate and vinyl flooring; Vinyl window frames; Laundry area
• Laundry & utility: Laundry area (washer/dryer hookups)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $189k.

Deal economics

• At list price, monthly cash flow is $-610 ($-7k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $189k).
• Recommended offer: $183k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 82/100 on livability (#43 in OR, #1,056 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: cost of living D-.
• Canby SD 86 (town): math 36% / reading 45% proficiency, ranked #14 of 58 in OR (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Philander Lee Elementary School (math 10% / reading 44%, grade F, #288 of 412 statewide, top 73%, 316 students, 37% FRL); Baker Prairie Middle School (math 42% / reading 54%, grade C-, #30 of 128 statewide, top 23%, 557 students, 33% FRL); Canby High School (math 75% / reading 75%, grade A-, #2 of 143 statewide, top 6%, 1,393 students, 27% FRL).
• Market conditions: Rents rising (+1.9%/yr); 168 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 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 $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.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($183k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y 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 $73k; list at $189k implies a 159% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 51% of rent.

Recommended offer $183,330 (3.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.04% ✓
• Cap rate: 2.42%
• Cash-on-cash: -13.84%
• DSCR: 0.38
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.89% rent growth · sell at horizon

5-year hold

• IRR: -44.4%
• Equity multiple: -0.34×
• Total profit: $-71,111
• Equity at exit: $28,181

10-year hold

• IRR: -92.8%
• Equity multiple: -1.24×
• Total profit: $-118,424
• Equity at exit: $16,341

Cash invested: $52,920 (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 97013

• Rents YoY: 1.9%
• Active inventory: 168
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,964 high
• Mortgage (P&I): −$991
• Tax from tax record: −$93 /mo · $1,118/yr
• Insurance: −$79
• HOA est. from 1 same-building comp: −$999
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $-610

Break-even live

Break-even rent $2,737

Max offer price $81,188

Occupancy floor —

Sensitivity live

Price	-10% $-503	-5% $-557	+0% $-610	+5% $-664	+10% $-717
Rent	-10% $-765	-5% $-688	+0% $-610	+5% $-533	+10% $-455
Rate	-1.0pp $-515	-0.5pp $-562	base $-610	+0.5pp $-659	+1.0pp $-709

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
499 SW 5th Ave Canby, OR	3.0	1.0	942	$2,195	$2.33	46d	1	0.60mi
267 N Aspen St Canby, OR	3.0	2.5	1252	$2,100	$1.68	22d	1	0.82mi
403 S Ivy St Unit 407 Canby, OR	2.0	1.0	850	$1,495	$1.76	4d	1	0.83mi
259 N Cedar St Canby, OR	3.0	2.5	1453	$2,399	$1.65	9d	1	0.85mi
190 SE 3rd Ave Canby, OR	3.0	2.0	1196	$2,450	$2.05	45d	1	0.95mi
410 S Knott St Unit 456 Canby, OR	2.0	1.0	850	$1,600	$1.88	4d	1	0.97mi
272 S Knott St Canby, OR	2.0	1.0	830	$1,395	$1.68	18d	1	1.02mi
341 SE 2nd Ave Unit 351 Canby, OR	2.0	1.0	800	$1,295	$1.62	4d	1	1.07mi
341 SE 2nd Ave Unit 347 Canby, OR	2.0	1.0	800	$1,195	$1.49	4d	1	1.07mi
360 S Locust St Unit 360 Canby, OR	2.0	1.0	840	$1,495	$1.78	45d	1	1.08mi
360 S Locust St Unit 360 Canby, OR	2.0	1.0	840	$1,545	$1.84	6d	1	1.08mi
360 S Locust St Unit 360 Canby, OR	2.0	1.0	840	$1,495	$1.78	25d	1	1.08mi
700 SE 5th Ave Canby, OR	2.0–3.0	2.0	1066	$1,840	$1.73	3d	2	1.14mi
450 S Pine St Canby, OR	2.0	1.0	840	$1,550	$1.85	3d	5	1.28mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-18
   days on market $189,000 Active 44 DOM
2. 2026-06-17
   days on market $189,000 Active 43 DOM
3. 2026-06-16
   days on market $189,000 Active 42 DOM
4. 2026-06-15
   days on market $189,000 Active 41 DOM
5. 2026-06-13
   days on market $189,000 Active 39 DOM
6. 2026-06-09
   days on market $189,000 Active 35 DOM
7. 2026-06-08
   days on market $189,000 Active 34 DOM
8. 2026-06-07
   days on market $189,000 Active 33 DOM
9. 2026-06-05
   days on market $189,000 Active 30 DOM
10. 2026-06-03
    days on market $189,000 Active 29 DOM
11. 2026-06-02
    days on market $189,000 Active 28 DOM
12. 2026-06-01
    days on market $189,000 Active 27 DOM
13. 2026-05-31
    days on market $189,000 Active 26 DOM
14. 2026-05-15
    status Pending
15. 2026-04-28
    historical Active with Bumpable Contingency
16. 2026-04-23
    listed $189,000 Active
17. 2016-12-02
    soldstatus $73,000 Sold 249-char remark

    Show marketing remark (249 chars)

    Beautiful new kitchen, soft close cabinets, top grade vinyl, fresh paint inside and out, new laminate floors throughout, double car garage, parking in driveway fits 3 cars with fully fenced back yard.Needs a little finish work but the house is nice!

18. 2016-11-08
    status Pending 249-char remark

    Show marketing remark (249 chars)

    Beautiful new kitchen, soft close cabinets, top grade vinyl, fresh paint inside and out, new laminate floors throughout, double car garage, parking in driveway fits 3 cars with fully fenced back yard.Needs a little finish work but the house is nice!

19. 2016-10-28
    status Active 249-char remark

    Show marketing remark (249 chars)

    Beautiful new kitchen, soft close cabinets, top grade vinyl, fresh paint inside and out, new laminate floors throughout, double car garage, parking in driveway fits 3 cars with fully fenced back yard.Needs a little finish work but the house is nice!

20. 2016-10-13
    status Pending 249-char remark

    Show marketing remark (249 chars)

    Beautiful new kitchen, soft close cabinets, top grade vinyl, fresh paint inside and out, new laminate floors throughout, double car garage, parking in driveway fits 3 cars with fully fenced back yard.Needs a little finish work but the house is nice!

21. 2016-09-20
    listed $76,000 Active 249-char remark

    Show marketing remark (249 chars)

    Beautiful new kitchen, soft close cabinets, top grade vinyl, fresh paint inside and out, new laminate floors throughout, double car garage, parking in driveway fits 3 cars with fully fenced back yard.Needs a little finish work but the house is nice!

ⓘ 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: $1,118 · $93/mo
• Projected year-2 tax: $1,833 · $153/mo
• Expected delta: +$715/yr (+$60/mo · 64.0%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 21% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 16 unhealthy d/yr today · 18 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,571
• − Mortgage interest: −$10,587
• − Property taxes: −$1,118
• − Insurance: −$945
• − Repairs & maintenance: −$1,886
• − Management: −$1,886
• − HOA: −$11,988
• − Depreciation: −$5,498
• Taxable loss: −$10,337
• Est. tax savings @ 24.0%: +$2,481
• After-tax cash flow: $-4,843/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: Canby SD 86
• NCES district ID: 4102640
• Math proficiency: 36% ▼ -4.00%
• Reading proficiency: 45% ▼ -5.00%
• Median HH income: $64,246
• Composite: 36.24/100
• National rank: #4717
• State rank: #14 of 58 in OR

Livability — Canby

• Score: 82/100
• State rank: #43
• US rank: #1056

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Canby, OR
• County: Clackamas County · 361,406 people
• City population: 24,293
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 24,293
• Household income: $101,832
• Rent vs Own: 27.2% rent · 72.8% own
• Severe rent burden: 575.0

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 (75%)
• Race & ethnicity: White 75% Hispanic / Latino 18% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Portuguese 4% Lithuanian 3% Italian 2%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 83% English-only · Spanish 14% Russian/Polish/Slavic 1% Vietnamese 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: ▼ -427.87%
• Current HPI: 287.758
• Rent YoY: ▲ 1.89%
• 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

+148.7% since first listed

8 events — show timeline

• 2026-05-15 Pending — RMLS
• 2026-04-28 Contingent — RMLS
• 2026-04-23 Listed $189,000 RMLS
• 2016-12-02 Sold (MLS) $73,000 RMLS
• 2016-11-08 Pending — RMLS
• 2016-10-28 Relisted — RMLS
• 2016-10-13 Pending — RMLS
• 2016-09-20 Listed $76,000 RMLS

Property tax history

+3.6%/yr

Latest (2025): $1,118 · +2.9% YoY. Source: county tax records.