300 NE Tomahawk Island Dr Unit E10 · Portland, OR 97035

$325,000

3 bd · 2.0 ba · 1,728 sqft · SingleFamily · 345 Days on market

Built 1972 Good condition $188/sqft · 21% below area Est $412k · 21% under $1400/mo HOA · 40% of rent ↓ 12% since listing

---

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
• 1% rule +5.7/10.0
• Schools +4.7/10.0
• Cash flow +4.2/30.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Rent growth +2.6/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Experience waterfront living in this beautifully designed floating home featuring 3 spacious bedrooms, 2 bathrooms, and stunning views throughout. Thoughtful layout includes a main-level deck and an upper-level deck—perfect for relaxing or entertaining. The primary suite opens directly to the upper deck and includes a private ensuite bathroom. Enjoy vaulted ceilings and a cozy wood-burning fireplace on the upper floor, creating a warm and inviting atmosphere. A rare opportunity to own a spacious, well-laid-out floating home with unbeatable charm and views! Seller is willing to do an owner carry. Please inquire for details.

Key facts

• Primary suite
• Vaulted ceilings
• Main-level deck

Tags

• MAIN-LEVEL DECK
• UPPER-LEVEL DECK
• PRIMARY SUITE
• PRIVATE ENSUITE BATHROOM
• VAULTED CEILINGS
• WOOD-BURNING FIREPLACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $325k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-1k ($-16k/yr) — negative.
• To cash-flow at today's rent, offer at most $135k (58.5% below list).
• Meets the 1% rule at list price ($3k rent vs $325k).
• Recommended offer: $135k (58.5% below list) — sets the bar for cash-flow.
• Cap rate 3.0% vs local median 2.3% 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.
• Zoned schools: Faubion Elementary School (610 students, 73% FRL); Da Vinci Middle School (434 students, 34% FRL); Benson Polytechnic High School (824 students, 65% FRL) — zoned schools average 57% FRL vs 37% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 352 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals lingering (median 42d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 59% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 2,041 units permitted in Multnomah County in 2024 (905 in 5+ unit buildings).
• This rent runs 32% of the median local income ($131k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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 345 days — a 12% lower offer ($286k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 40% of rent.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $134,957 (58.5% 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 345 days. Have you received any prior offers? Is the seller open to a 58% concession, seller financing, or rate buy-down credit?
3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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: 1.07% ✓
• Cap rate: 3.02%
• Cash-on-cash: -11.69%
• DSCR: 0.48
• GRM: 7.8

CMA / ARV

• ARV (median comp): $412,345
• List price: $325,000
• Delta: -21.18%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
535 NE Bridgeton Rd #2	0.11mi	2/2.0 (-1)	1,852 (+7%)	1mo	$260,000	$140	77
531 NE Meadow Dr	0.57mi	3/3.0	1,698 (-2%)	1mo	$550,000	$324	66
500 N Tomahawk Island Dr	0.62mi	3/3.0	1,720 (-0%)	2mo	$745,000	$433	65
1006 NE Mariners Loop	0.42mi	3/3.0	1,866 (+8%)	1mo	$480,000	$257	62
380 N Tomahawk Island Dr	0.44mi	3/3.0	1,800 (+4%)	10mo	$540,000	$300	60
647 NE Meadow Dr	0.61mi	3/2.0	1,686 (-2%)	10mo	$570,000	$338	60
11638 N Island Cove Ln	0.66mi	2/2.0 (-1)	1,648 (-5%)	4mo	$275,000	$167	53
639 NE Meadow Dr	0.60mi	4/2.0 (+1)	1,653 (-4%)	12mo	$515,500	$312	50
160 N Tomahawk Island Dr	0.44mi	3/2.0	1,851 (+7%)	23mo	$425,000	$230	48
531 N Bridgeton Rd Unit 4A	0.56mi	3/2.0	1,952 (+13%)	24mo	$555,000	$284	32

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 · 0.36% rent growth · sell at horizon

5-year hold

• IRR: -57.6%
• Equity multiple: -0.58×
• Total profit: $-144,175
• Equity at exit: $48,459

10-year hold

• IRR: —
• Equity multiple: -1.90×
• Total profit: $-263,663
• Equity at exit: $28,100

Cash invested: $91,000 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 14 active · 4 under contract
• Months of supply: 14.0 mo (7%/mo absorbed)
• Median asking: $479,450 ($284/sqft)
• Median days on market: 120 d
• This list price: 14% of active listings are priced below it
• ARV vs active asking: -16.0% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 97035

• Rents YoY: 0.4%
• Active inventory: 352
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $3,493 high
• Mortgage (P&I): −$1,704
• Tax est. 1.5%: −$406 /mo · $4,875/yr
• Insurance: −$135
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$1,400
• Vacancy / Maint / Mgmt: −$733
• Net cashflow: $-1,313

Break-even live

Break-even rent $5,155

Max offer price $134,957

Occupancy floor —

Sensitivity live

Price	-10% $-1,089	-5% $-1,201	+0% $-1,313	+5% $-1,426	+10% $-1,538
Rent	-10% $-1,589	-5% $-1,451	+0% $-1,313	+5% $-1,175	+10% $-1,037
Rate	-1.0pp $-1,150	-0.5pp $-1,231	base $-1,313	+0.5pp $-1,398	+1.0pp $-1,483

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: $81,250
• Closing costs: $9,750
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11505 NE Yacht Harbor Dr Portland, OR	1.0–2.0	1.0–2.0	2322	$6,461	$2.78	9d	11	0.12mi
10722 NE 5th Ave Portland, OR	2.0	2.5	1611	$2,495	$1.55	65d	1	0.24mi
112 NE Bridgeton Rd Portland, OR	3.0	2.5	2200	$4,700	$2.14	93d	1	0.27mi
110 N Tomahawk Island Dr Portland, OR	1.0–2.0	1.0–2.0	994	$2,586	$2.60	13d	27	0.36mi
Bridgeton Portland, OR	3.0	2.0	1250	$2,895	$2.32	16d	1	0.47mi
540 N Hayden Bay Dr Portland, OR	3.0	2.0	1816	$3,095	$1.70	52d	1	0.73mi
910 N Harbour Dr Portland, OR	1.0–2.0	1.0–2.0	1038	$1,949	$1.88	9d	5	0.76mi
995 N Marine Dr Portland, OR	1.0–2.0	1.0–2.0	1062	$1,938	$1.82	9d	9	0.77mi
1034 NE Lija Loop Unit 10474-1022 Portland, OR	2.0	1.5	1094	$1,795	$1.64	41d	1	0.88mi
1712 SE Halyard Ln Vancouver, WA	3.0	2.0	1350	$2,695	$2.00	34d	1	0.92mi
1421 SE Columbia Way Vancouver, WA	3.0	2.5	1700	$3,300	$1.94	67d	1	0.93mi
520 SE Columbia River Dr #420 Vancouver, WA	2.0	2.5	1350	$2,495	$1.85	71d	1	0.94mi
520 SE Columbia River Dr Vancouver, WA	2.0	2.0–2.5	1207	$2,395	$1.98	67d	2	0.94mi
1245 N Anchor Way Portland, OR	1.0–2.0	1.0–2.0	822	$1,850	$2.25	9d	9	0.95mi
1830 SE Cutter Ln Vancouver, WA	3.0	2.0	1496	$2,400	$1.60	42d	1	0.96mi
1712 SE Cutter Ln Vancouver, WA	3.0	2.0	1336	$2,195	$1.64	13d	1	0.97mi
1747 N Jantzen Ave Portland, OR	3.0	4.0	2000	$3,100	$1.55	93d	1	1.41mi

HOA detail $1,400/mo · $16,800/yr

• Likely covers: water

Listing history 13 events

1. 2026-06-13
   days on market $325,000 Active 345 DOM
2. 2026-06-09
   days on market $325,000 Active 341 DOM
3. 2026-06-08
   days on market $325,000 Active 340 DOM
4. 2026-06-07
   days on market $325,000 Active 339 DOM
5. 2026-06-03
   days on market $325,000 Active 335 DOM
6. 2026-06-02
   days on market $325,000 Active 334 DOM
7. 2026-06-01
   days on market $325,000 Active 333 DOM
8. 2026-05-31
   days on market $325,000 Active 332 DOM
9. 2026-04-20
   price $325,000 636-char remark

   Show marketing remark (636 chars)

   Experience waterfront living in this beautifully designed floating home featuring 3 spacious bedrooms, 2 bathrooms, and stunning views throughout. Thoughtful layout includes a main-level deck and an upper-level deck—perfect for relaxing or entertaining. The primary suite opens directly to the upper deck and includes a private ensuite bathroom. Enjoy vaulted ceilings and a cozy wood-burning fireplace on the upper floor, creating a warm and inviting atmosphere. A rare opportunity to own a spacious, well-laid-out floating home with unbeatable charm and views! Seller is willing to do an owner carry. Please inquire for details.

10. 2026-02-19
    price $339,000 636-char remark

    Show marketing remark (636 chars)

    Experience waterfront living in this beautifully designed floating home featuring 3 spacious bedrooms, 2 bathrooms, and stunning views throughout. Thoughtful layout includes a main-level deck and an upper-level deck—perfect for relaxing or entertaining. The primary suite opens directly to the upper deck and includes a private ensuite bathroom. Enjoy vaulted ceilings and a cozy wood-burning fireplace on the upper floor, creating a warm and inviting atmosphere. A rare opportunity to own a spacious, well-laid-out floating home with unbeatable charm and views! Seller is willing to do an owner carry. Please inquire for details.

11. 2025-09-10
    price $344,000 636-char remark

    Show marketing remark (636 chars)

    Experience waterfront living in this beautifully designed floating home featuring 3 spacious bedrooms, 2 bathrooms, and stunning views throughout. Thoughtful layout includes a main-level deck and an upper-level deck—perfect for relaxing or entertaining. The primary suite opens directly to the upper deck and includes a private ensuite bathroom. Enjoy vaulted ceilings and a cozy wood-burning fireplace on the upper floor, creating a warm and inviting atmosphere. A rare opportunity to own a spacious, well-laid-out floating home with unbeatable charm and views! Seller is willing to do an owner carry. Please inquire for details.

12. 2025-07-24
    price $354,000 636-char remark

    Show marketing remark (636 chars)

    Experience waterfront living in this beautifully designed floating home featuring 3 spacious bedrooms, 2 bathrooms, and stunning views throughout. Thoughtful layout includes a main-level deck and an upper-level deck—perfect for relaxing or entertaining. The primary suite opens directly to the upper deck and includes a private ensuite bathroom. Enjoy vaulted ceilings and a cozy wood-burning fireplace on the upper floor, creating a warm and inviting atmosphere. A rare opportunity to own a spacious, well-laid-out floating home with unbeatable charm and views! Seller is willing to do an owner carry. Please inquire for details.

13. 2025-07-03
    listed $369,000 Active 636-char remark

    Show marketing remark (636 chars)

    Experience waterfront living in this beautifully designed floating home featuring 3 spacious bedrooms, 2 bathrooms, and stunning views throughout. Thoughtful layout includes a main-level deck and an upper-level deck—perfect for relaxing or entertaining. The primary suite opens directly to the upper deck and includes a private ensuite bathroom. Enjoy vaulted ceilings and a cozy wood-burning fireplace on the upper floor, creating a warm and inviting atmosphere. A rare opportunity to own a spacious, well-laid-out floating home with unbeatable charm and views! Seller is willing to do an owner carry. Please inquire for details.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 100% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 6 d/yr ≥92°F today · 11 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: $41,912
• − Mortgage interest: −$18,205
• − Property taxes: −$4,875
• − Insurance: −$6,744
• − Repairs & maintenance: −$3,353
• − Management: −$3,353
• − HOA: −$16,800
• − Depreciation: −$9,455
• Taxable loss: −$20,872
• Est. tax savings @ 24.0%: +$5,009
• After-tax cash flow: $-10,751/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.

Condition & rehab AI · 13 photos

Good 80/100 Cosmetic rehab Est. rehab $8,640–$25,920 screening

A well-maintained floating home with good condition and a good ROI potential for both resale and rental.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Clean windows — Improves natural light and view ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

Zoned Schools

Elementary Faubion Elementary School Middle Da Vinci Middle School High Jefferson High School

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

B Composite livability gradescore 77/100

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: Clackamas County · 930,825 people
• City population: 774,334
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 25,911
• Household income: $130,603
• Rent vs Own: 37.0% rent · 63.0% own
• Severe rent burden: 7% of renters

---

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 (74%)
• Race & ethnicity: White 74% Asian 12% Two or more races 8% Hispanic / Latino 6% Black 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 4% Lithuanian 3% Slovak 3%
• Foreign-born: 15% · China, Canada, South Korea
• Languages at home: 83% English-only · Other Indo-European 4% Chinese 3% Spanish 3%

---

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: ▼ -511.92%
• Current HPI: 304.7663
• Rent YoY: ▲ 0.36%
• 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

-11.9% since first listed

5 events — show timeline

• 2026-04-20 Price Changed $325,000 RMLS
• 2026-02-19 Price Changed $339,000 RMLS
• 2025-09-10 Price Changed $344,000 RMLS
• 2025-07-24 Price Changed $354,000 RMLS
• 2025-07-03 Listed $369,000 RMLS