4926 S Corbett Ave #205 · Portland, OR 97239

$265,000

2 bd · 2.0 ba · 1,049 sqft · Condo public records · 104 Days on market

Built 1979 $253/sqft · 20% below area Est $330k · 20% under $404/mo HOA · 17% of rent

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Why this score? — see what drove the D 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 +15.0/15.0
• Cash flow +6.4/30.0
• Schools +4.7/10.0
• 1% rule +4.0/10.0
• Livability +3.9/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• DSCR +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Experience elevated city living with peek-a-boo river and mountain views in the heart of Portland’s South Waterfront/John’s Landing. Wake up to the Willamette and Mt. Hood from the spacious bedroom, then step through expansive sliding doors onto an awesome, wide balcony that feels like a private rooftop terrace. Inside, this beautifully updated condo blends modern comfort with clean, timeless style. New flooring and crisp baseboards run throughout, creating a fresh, cohesive look that pairs perfectly with the abundant natural light. The open-concept living and dining area offers an inviting setting for cozy evenings in or casual entertaining with friends. The kitchen features stainless steel appliances, generous storage, and a bright nook that’s ideal for morning coffee. The serene primary suite includes balcony access, an en-suite bath, and ample closet space, while the second bedroom and full bath provide flexibility for guests, a home office, or both. Updated bathrooms, in-unit laundry, and thoughtful finishes make everyday living easy. Enjoy the convenience of secured parking, ample storage - both deeded in the parking area and on the balcony, and an HOA security overhaul with new FOB-controlled entry for added peace of mind. From this unbeatable location, you’re close to PSU, OHSU, and Marquam Park’s scenic trails, with easy access to Sellwood and Multnomah Village for boutique shopping and dining. With no rental cap, this condo offers both a vibrant lifestyle and a smart investment opportunity—come see why this SoPo perch truly feels like an oasis above the city!

Key facts

• Updated condo
• New flooring
• Wide balcony

Tags

• PEEK-A-BOO RIVER VIEWS
• PEEK-A-BOO MOUNTAIN VIEWS
• WIDE BALCONY
• UPDATED CONDO
• NEW FLOORING
• OPEN-CONCEPT LIVING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $265k.

Deal economics

• At list price, monthly cash flow is $-461 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $184k (30.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $239k (9.8% below list).
• Recommended offer: $184k (30.7% below list) — sets the bar for cash-flow.
• Cap rate 4.2% 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.
• Portland SD 1J (urban): math 46% / reading 58% proficiency, ranked #23 of 183 in OR (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+2.9%/yr); 209 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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 $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($241k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y ago; this cycle's ask has dropped $14k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $183,597 (30.7% 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 104 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.90% ✗
• Cap rate: 4.21%
• Cash-on-cash: -7.45%
• DSCR: 0.67
• GRM: 9.2

CMA / ARV

• ARV (median comp): $329,622
• List price: $265,000
• Delta: -19.60%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.89% rent growth · sell at horizon

5-year hold

• IRR: -29.3%
• Equity multiple: 0.03×
• Total profit: $-72,200
• Equity at exit: $39,512

10-year hold

• IRR: -29.4%
• Equity multiple: -0.35×
• Total profit: $-100,305
• Equity at exit: $22,912

Cash invested: $74,200 (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 97239

• Rents YoY: 2.9%
• Active inventory: 209
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,390 high
• Mortgage (P&I): −$1,390
• Tax from tax record: −$445 /mo · $5,340/yr
• Insurance: −$110
• HOA: −$404
• Vacancy / Maint / Mgmt: −$502
• Net cashflow: $-461

Break-even live

Break-even rent $2,974

Max offer price $183,597

Occupancy floor —

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4949 S Landing Dr Portland, OR	1.0–2.0	1.0–1.5	823	$1,999	$2.43	3d	6	0.15mi
15 SW Hamilton Ct #1 Portland, OR	2.0	1.5	1300	$2,895	$2.23	43d	1	0.17mi
4940 S Landing Dr Portland, OR	2.0	1.0–2.0	786	$2,772	$3.52	2d	6	0.17mi
5132 SW Slavin Rd Portland, OR	1.0–3.0	1.0–1.5	868	$1,825	$2.10	2d	8	0.25mi
0444 SW Boundary St Portland, OR	1.0–2.0	1.0–2.0	1019	$2,762	$2.71	7d	5	0.28mi
015 SW Bancroft St Portland, OR	2.0	1.0	1000	$2,500	$2.50	43d	1	0.32mi
4130 S View Point Ter Apt 6 Portland, OR	2.0	1.0	850	$1,395	$1.64	43d	1	0.37mi
3939 SW View Point Ter Apt 3A Portland, OR	2.0	2.0	800	$2,100	$2.62	24d	1	0.46mi
5885 S Macadam Ave Portland, OR	1.0	1.0	620	$1,795	$2.90	3d	2	0.48mi
3916 S Corbett Ave Portland, OR	1.0	1.0	643	$1,699	$2.64	2d	6	0.48mi
677 S Lowell St Portland, OR	2.0	1.0–2.0	924	$2,395	$2.59	2d	26	0.51mi
3825 SW View Point Ter Portland, OR	1.0	1.0	750	$1,750	$2.33	43d	1	0.52mi
320 S Lane St Portland, OR	1.0	1.0	550	$1,200	$2.18	4d	2	0.53mi
3883 S Moody Ave Portland, OR	1.0	1.0	611	$2,116	$3.46	2d	18	0.55mi
6015 S Virginia Ave Unit 301 Portland, OR	2.0	1.0	735	$1,645	$2.24	22d	1	0.55mi
3736 S Kelly Ave Unit Mf Portland, OR	2.0	1.0	1040	$1,895	$1.82	16d	1	0.56mi
3833 S Bond Ave Portland, OR	2.0	1.0–2.0	803	$2,537	$3.16	2d	13	0.58mi
3712 S Kelly Ave Unit 03 Portland, OR	2.0	1.0	728	$1,345	$1.85	43d	1	0.58mi
6125 S Hood Ave Unit A Portland, OR	2.0	1.0	700	$1,849	$2.64	15d	1	0.60mi
3850 S Bond Ave Portland, OR	1.0	1.0	805	$2,428	$3.02	2d	17	0.60mi
650 S Gaines St Portland, OR	2.0	1.0–2.0	823	$3,346	$4.07	2d	22	0.62mi
3820 S River Pkwy Portland, OR	1.0–2.0	1.0–2.5	1339	$6,831	$5.10	1d	35	0.63mi
3720 S Bond Ave Portland, OR	2.0	1.0–2.5	1574	$7,180	$4.56	2d	26	0.64mi
3720 S Bond Ave Portland, OR	2.0	1.0–2.5	1574	$7,080	$4.50	43d	27	0.64mi
3531 S Kelly Ave Portland, OR	2.0	2.5	1372	$2,995	$2.18	43d	1	0.65mi
3750 S River Pkwy Portland, OR	1.0–2.0	1.0–2.0	881	$3,080	$3.49	2d	21	0.68mi
3601 S River Pkwy Portland, OR	1.0–4.0	1.0–4.5	2828	$7,996	$2.83	43d	2	0.69mi
3601 S River Pkwy Portland, OR	1.0	1.0	785	$1,948	$2.48	14d	2	0.69mi
3473 SW Barbur Blvd #8 Portland, OR	2.0	1.5	777	$1,685	$2.17	43d	1	0.71mi
3425 SW Barbur Blvd Portland, OR	2.0	1.0	730	$1,900	$2.60	24d	1	0.73mi
524-526 SW Dakota St Unit 532 Portland, OR	3.0	1.5	950	$1,999	$2.10	43d	1	0.73mi
3401-3417 SW 1st Ave Unit 3409 Portland, OR	1.0	1.0	750	$1,545	$2.06	15d	1	0.74mi
3570 S River Pkwy #509 Portland, OR	1.0	1.0	922	$2,200	$2.39	43d	1	0.74mi
3570 S River Pkwy Portland, OR	1.0	1.0	889	$2,220	$2.50	2d	2	0.74mi
3235 SW 1st Ave Unit 1 Portland, OR	1.0	1.0	920	$3,350	$3.64	43d	1	0.81mi
3734 SW 10th Ave Portland, OR	3.0	3.0	1500	$2,800	$1.87	43d	1	0.87mi
3155 S Moody Ave Portland, OR	2.0	1.0–2.0	586	$1,900	$3.24	4d	7	0.88mi
3440 SW US Veterans Hospital Rd Portland, OR	2.0	2.0	816	$2,499	$3.06	4d	1	0.89mi
6202 SW Burlingame Ave Unit 1 Portland, OR	1.0	1.0	710	$1,495	$2.11	7d	1	0.92mi
6202 SW Burlingame Ave Unit 2 Portland, OR	2.0	2.0	1000	$1,695	$1.70	7d	1	0.92mi

HOA detail condo

• Monthly dues: $404 · $4,848/yr
• Likely covers: watersecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-18
   days on market $265,000 Active 104 DOM
2. 2026-06-17
   days on market $265,000 Active 103 DOM
3. 2026-06-16
   days on market $265,000 Active 102 DOM
4. 2026-06-15
   days on market $265,000 Active 101 DOM
5. 2026-06-13
   days on market $265,000 Active 99 DOM
6. 2026-06-09
   days on market $265,000 Active 95 DOM
7. 2026-06-08
   days on market $265,000 Active 94 DOM
8. 2026-06-07
   days on market $265,000 Active 93 DOM
9. 2026-06-03
   days on market $265,000 Active 89 DOM
10. 2026-06-02
    days on market $265,000 Active 88 DOM
11. 2026-06-01
    days on market $265,000 Active 87 DOM
12. 2026-05-31
    days on market $265,000 Active 86 DOM
13. 2026-04-29
    price $265,000 1631-char remark

    Show marketing remark (1631 chars)

    Experience elevated city living with peek-a-boo river and mountain views in the heart of Portland’s South Waterfront/John’s Landing. Wake up to the Willamette and Mt. Hood from the spacious bedroom, then step through expansive sliding doors onto an awesome, wide balcony that feels like a private rooftop terrace. Inside, this beautifully updated condo blends modern comfort with clean, timeless style. New flooring and crisp baseboards run throughout, creating a fresh, cohesive look that pairs perfectly with the abundant natural light. The open-concept living and dining area offers an inviting setting for cozy evenings in or casual entertaining with friends. The kitchen features stainless steel appliances, generous storage, and a bright nook that’s ideal for morning coffee. The serene primary suite includes balcony access, an en-suite bath, and ample closet space, while the second bedroom and full bath provide flexibility for guests, a home office, or both. Updated bathrooms, in-unit laundry, and thoughtful finishes make everyday living easy. Enjoy the convenience of secured parking, ample storage - both deeded in the parking area and on the balcony, and an HOA security overhaul with new FOB-controlled entry for added peace of mind. From this unbeatable location, you’re close to PSU, OHSU, and Marquam Park’s scenic trails, with easy access to Sellwood and Multnomah Village for boutique shopping and dining. With no rental cap, this condo offers both a vibrant lifestyle and a smart investment opportunity—come see why this SoPo perch truly feels like an oasis above the city!

14. 2026-03-06
    listed $279,000 Active 1631-char remark

    Show marketing remark (1631 chars)

    Experience elevated city living with peek-a-boo river and mountain views in the heart of Portland’s South Waterfront/John’s Landing. Wake up to the Willamette and Mt. Hood from the spacious bedroom, then step through expansive sliding doors onto an awesome, wide balcony that feels like a private rooftop terrace. Inside, this beautifully updated condo blends modern comfort with clean, timeless style. New flooring and crisp baseboards run throughout, creating a fresh, cohesive look that pairs perfectly with the abundant natural light. The open-concept living and dining area offers an inviting setting for cozy evenings in or casual entertaining with friends. The kitchen features stainless steel appliances, generous storage, and a bright nook that’s ideal for morning coffee. The serene primary suite includes balcony access, an en-suite bath, and ample closet space, while the second bedroom and full bath provide flexibility for guests, a home office, or both. Updated bathrooms, in-unit laundry, and thoughtful finishes make everyday living easy. Enjoy the convenience of secured parking, ample storage - both deeded in the parking area and on the balcony, and an HOA security overhaul with new FOB-controlled entry for added peace of mind. From this unbeatable location, you’re close to PSU, OHSU, and Marquam Park’s scenic trails, with easy access to Sellwood and Multnomah Village for boutique shopping and dining. With no rental cap, this condo offers both a vibrant lifestyle and a smart investment opportunity—come see why this SoPo perch truly feels like an oasis above the city!

15. 2019-12-02
    soldstatus $283,200 Sold 386-char remark

    Show marketing remark (386 chars)

    Adorable single-level 2-bed, 2-bath condo in John's Landing, with territorial views of Mount Hood and the Willamette River. Expansive deck with access from Master Bedroom and Living Room. Close proximity to transit, South Waterfront, OSHU and Downtown, and just a quick stroll to Elephant's Delicatessen and JoLa Cafe! Updated luxury vinyl flooring and new sliding doors. No rental cap!

16. 2019-12-02
    soldstatus $283,200

    Show marketing remark (386 chars)

    Adorable single-level 2-bed, 2-bath condo in John's Landing, with territorial views of Mount Hood and the Willamette River. Expansive deck with access from Master Bedroom and Living Room. Close proximity to transit, South Waterfront, OSHU and Downtown, and just a quick stroll to Elephant's Delicatessen and JoLa Cafe! Updated luxury vinyl flooring and new sliding doors. No rental cap!

17. 2019-11-04
    status Pending 386-char remark

    Show marketing remark (386 chars)

    Adorable single-level 2-bed, 2-bath condo in John's Landing, with territorial views of Mount Hood and the Willamette River. Expansive deck with access from Master Bedroom and Living Room. Close proximity to transit, South Waterfront, OSHU and Downtown, and just a quick stroll to Elephant's Delicatessen and JoLa Cafe! Updated luxury vinyl flooring and new sliding doors. No rental cap!

18. 2019-09-05
    listed $284,900 Active 386-char remark

    Show marketing remark (386 chars)

    Adorable single-level 2-bed, 2-bath condo in John's Landing, with territorial views of Mount Hood and the Willamette River. Expansive deck with access from Master Bedroom and Living Room. Close proximity to transit, South Waterfront, OSHU and Downtown, and just a quick stroll to Elephant's Delicatessen and JoLa Cafe! Updated luxury vinyl flooring and new sliding doors. No rental cap!

19. 2015-06-03
    soldstatus $203,250 Sold
20. 2015-06-03
    soldstatus $203,250
21. 2015-05-21
    status Pending
22. 2015-05-16
    listed $199,000 Active
23. 2014-05-16
    soldstatus $169,900 Sold
24. 2014-04-15
    status Pending
25. 2014-04-09
    price $169,900
26. 2014-03-07
    listed $179,900 Active
27. 1994-08-16
    soldstatus $60,000

ⓘ 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: $5,340 · $445/mo
• Projected year-2 tax: $5,340 · $445/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 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 19 unhealthy d/yr today · 20 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,683
• − Mortgage interest: −$14,844
• − Property taxes: −$5,340
• − Insurance: −$1,325
• − Repairs & maintenance: −$2,295
• − Management: −$2,295
• − HOA: −$4,848
• − Depreciation: −$7,709
• Taxable loss: −$9,972
• Est. tax savings @ 24.0%: +$2,393
• After-tax cash flow: $-3,136/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: Portland SD 1J
• NCES district ID: 4110040
• Math proficiency: 46% ▼ -2.00%
• Reading proficiency: 58% ▼ -3.00%
• Median HH income: $57,851
• Composite: 47.1/100
• National rank: #5112
• State rank: #23 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): 17,804
• Household income: $110,134
• Rent vs Own: 55.5% rent · 44.5% own
• Severe rent burden: 1308.0

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: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 10% Two or more races 9% Asian 6% Black 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 5% Portuguese 4% Slovak 4%
• Foreign-born: 10% · Canada, South Korea, China
• Languages at home: 88% English-only · Spanish 5% Other Asian/Pacific 2% Chinese 1%

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: ▼ -438.62%
• Current HPI: 260.0773
• Rent YoY: ▲ 2.89%
• 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

+341.7% since first listed

15 events — show timeline

• 2026-04-29 Price Changed $265,000 RMLS
• 2026-03-06 Listed $279,000 RMLS
• 2019-12-02 Sold (Public Records) $283,200 Public Records
• 2019-12-02 Sold (MLS) $283,200 RMLS
• 2019-11-04 Pending — RMLS
• 2019-09-05 Listed $284,900 RMLS
• 2015-06-03 Sold (Public Records) $203,250 Public Records
• 2015-06-03 Sold (MLS) $203,250 RMLS
• 2015-05-21 Pending — RMLS
• 2015-05-16 Listed $199,000 RMLS
• 2014-05-16 Sold (MLS) $169,900 RMLS
• 2014-04-15 Pending — RMLS
• 2014-04-09 Price Changed $169,900 RMLS
• 2014-03-07 Listed $179,900 RMLS
• 1994-08-16 Sold (Public Records) $60,000 Public Records

Property tax history

+3.9%/yr

Latest (2025): $5,340 · +0.9% YoY. Source: county tax records.