21100 NE Sandy Blvd #52 · Fairview, OR 97024

$75,000

2 bd · 2.0 ba · 1,368 sqft · Manufactured public records · 163 Days on market

Built 1977 $55/sqft · 17% below area Est $89k · 16% under

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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
• ARV discount +14.5/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover your perfect retreat in the vibrant Quail Hollow 55+ community with this charming, well-maintained 2-bedroom, 2-bathroom double-wide home that offers modern comforts like refreshing central air conditioning plus several recently updated systems for total peace of mind. Inside, you'll find a smart, spacious layout that flows seamlessly—ideal for everyday relaxation or entertaining loved ones—while the low-maintenance outdoor space is perfect for tending a garden, unwinding on sunny afternoons, or hosting delightful gatherings with friends. Complete with abundant storage, convenient off-street parking, and access to fantastic community amenities including a welcoming clubhouse, sparkling swimming pool, and fun recreation areas, this cozy haven is ready for you to make it yours—don't miss out!

Key facts

• Clubhouse
• Abundant storage
• Off-street parking

Tags

• QUAIL HOLLOW COMMUNITY
• CENTRAL AIR CONDITIONING
• LOW-MAINTENANCE OUTDOOR SPACE
• ABUNDANT STORAGE
• OFF-STREET PARKING
• CLUBHOUSE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $75k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 22.9% vs local median 2.7% in Fairview — 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 75/100 on livability (#85 in OR, #4,103 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A-; Watch: cost of living D, schools F, amenities F.
• Reynolds SD 7 (suburban): math 21% / reading 36% proficiency, ranked #162 of 183 in OR (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-1.0%/yr); 53 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 2,041 units permitted in Multnomah County in 2024 (905 in 5+ unit buildings).
• This rent runs 32% of the median local income ($70k/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 $519 of loan paydown is wiped out by about $2k 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 + 0.0% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 163 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.

Recommended offer $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 163 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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: 2.51% ✓
• Cap rate: 22.94%
• Cash-on-cash: 59.45%
• DSCR: 3.65
• GRM: 3.3

CMA / ARV

• ARV (median comp): $88,837
• List price: $75,000
• Delta: -15.58%
• Verdict: UNDERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21100 NE Sandy Blvd #79	0.03mi	3/2.0 (+1)	1,432 (+5%)	10mo	$83,000	$58	77
21100 NE Sandy Blvd #127	0.20mi	2/2.0	1,344 (-2%)	13mo	$84,500	$63	77
21100 NE Sandy Blvd #39	0.12mi	2/2.0	1,224 (-10%)	2mo	$75,000	$61	75
21100 NE Sandy Blvd #137	0.09mi	2/2.0	1,440 (+5%)	15mo	$43,000	$30	75
21100 NE Sandy Blvd	0.08mi	2/2.0	1,248 (-9%)	11mo	$90,000	$72	72
21100 NE Sandy Blvd #2	0.14mi	2/2.0	1,236 (-10%)	10mo	$49,000	$40	69
3201 NE 223rd Ave #7	0.46mi	3/2.0 (+1)	1,344 (-2%)	9mo	$117,320	$87	63
2500 NE 201st Ave #26	0.59mi	3/2.0 (+1)	1,404 (+3%)	2mo	$67,000	$48	61
2600 NE 205th Ave #20	0.41mi	3/2.0 (+1)	1,456 (+6%)	8mo	$164,518	$113	59
2632 NE 201st Ave #30	0.59mi	3/2.0 (+1)	1,404 (+3%)	12mo	$120,000	$85	53
3201 NE 223rd Ave #41	0.50mi	3/2.0 (+1)	1,296 (-5%)	15mo	$153,000	$118	50
3150 NE 206th Pl	0.45mi	3/2.0 (+1)	1,533 (+12%)	9mo	$355,000	$232	47

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 54.8%
• Equity multiple: 3.31×
• Total profit: $48,576
• Equity at exit: $11,183

10-year hold

• IRR: 58.8%
• Equity multiple: 6.06×
• Total profit: $106,225
• Equity at exit: $6,485

Cash invested: $21,000 (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 97024

• Home prices YoY: -20.3%
• Rents YoY: -1.0%
• Active inventory: 53
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,884 high
• Mortgage (P&I): −$393
• Tax from tax record: −$24 /mo · $285/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $1,040

Break-even live

Break-even rent $567

Max offer price $75,000

Occupancy floor 40%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21123 NE Osburn Loop Unit 21123 Fairview, OR	3.0	2.5	1586	$2,595	$1.64	4d	1	0.31mi
22199 NE Sandy Blvd Fairview, OR	2.0	1.0–2.0	707	$2,200	$3.11	3d	27	0.35mi
20454 NE Sandy Blvd Apt B26 Fairview, OR	2.0	2.0	950	$1,722	$1.81	20d	7	0.44mi
2667 NE 205th Ave Fairview, OR	3.0	2.0	1115	$1,950	$1.75	24d	1	0.44mi
20454 NE Sandy Blvd Fairview, OR	2.0	2.0	950	$1,450	$1.53	3d	4	0.45mi
609 Lincoln St Unit 609 Fairview, OR	3.0	2.5	1100	$2,250	$2.05	44d	1	0.51mi
320 Lincoln St Fairview, OR	2.0	1.0	950	$1,395	$1.47	44d	1	0.58mi
22100 NE Halsey St Fairview, OR	1.0–3.0	1.0–2.0	1003	$1,947	$1.94	3d	10	0.64mi
22025 NE Halsey St Fairview, OR	1.0–2.0	1.0–2.0	841	$1,795	$2.13	10d	1	0.64mi
21933 NE Chinook Way Fairview, OR	1.0–3.0	1.0–2.5	874	$1,802	$2.06	2d	8	0.69mi
1497 NE Market Dr Fairview, OR	2.0	2.0	1136	$1,750	$1.54	44d	1	0.70mi
22620 NE Hancock St Fairview, OR	2.0	2.0	1196	$1,995	$1.67	22d	1	0.71mi
21958 NE Chinook Way Apt C Fairview, OR	1.0	1.0	950	$1,250	$1.32	44d	1	0.74mi
20347 NE Halsey St Fairview, OR	2.0	2.0	985	$1,614	$1.64	3d	2	0.75mi
22032 NE Chinook Way Apt A Fairview, OR	2.0	2.5	1150	$1,995	$1.73	44d	1	0.76mi
22032 NE Chinook Way Unit B Fairview, OR	2.0	2.5	1150	$2,045	$1.78	8d	1	0.76mi
3794 NE Fairview Lake Way Fairview, OR	3.0	2.0	1611	$2,795	$1.73	22d	1	0.76mi
22701 NE Halsey St Unit FO222 Fairview, OR	2.0	2.0	965	$1,511	$1.57	44d	1	0.82mi
22701 NE Halsey St Unit FO1101 Fairview, OR	2.0	2.0	965	$1,511	$1.57	24d	1	0.82mi
19927 NE Halsey St Unit 103 Portland, OR	3.0	2.5	1225	$1,895	$1.55	44d	1	0.90mi
19849 NE Halsey St Unit 110 Portland, OR	3.0	2.0	895	$1,870	$2.09	18d	1	0.94mi
19511 NE Halsey St Portland, OR	2.0	1.0	917	$1,395	$1.52	3d	1	1.07mi
23901 NE Halsey St Wood Village, OR	2.0–3.0	1.0–2.0	1012	$1,395	$1.38	14d	4	1.30mi
23801 NE Treehill Dr Wood Village, OR	3.0	2.0	1800	$2,200	$1.22	44d	1	1.36mi

Listing history 1 events

1. 2025-12-14
   listed $75,000 Active 828-char remark

   Show marketing remark (828 chars)

   Discover your perfect retreat in the vibrant Quail Hollow 55+ community with this charming, well-maintained 2-bedroom, 2-bathroom double-wide home that offers modern comforts like refreshing central air conditioning plus several recently updated systems for total peace of mind. Inside, you'll find a smart, spacious layout that flows seamlessly—ideal for everyday relaxation or entertaining loved ones—while the low-maintenance outdoor space is perfect for tending a garden, unwinding on sunny afternoons, or hosting delightful gatherings with friends. Complete with abundant storage, convenient off-street parking, and access to fantastic community amenities including a welcoming clubhouse, sparkling swimming pool, and fun recreation areas, this cozy haven is ready for you to make it yours—don't miss out!

ⓘ 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: $285 · $24/mo
• Projected year-2 tax: $728 · $61/mo
• Expected delta: +$442/yr (+$37/mo · 155.3%)

ⓘ 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 ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 14 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,614
• − Mortgage interest: −$4,201
• − Property taxes: −$285
• − Insurance: −$375
• − Repairs & maintenance: −$1,809
• − Management: −$1,809
• − Depreciation: −$2,182
• Taxable income: $11,953
• Est. tax owed @ 24.0%: −$2,869
• After-tax cash flow: $9,617/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: Reynolds SD 7
• NCES district ID: 4110520
• Math proficiency: 21% ▬ 0.00%
• Reading proficiency: 36% ▬ 0.00%
• Median HH income: $45,502
• Composite: 27.4/100
• National rank: #12399
• State rank: #162 of 183 in OR

Livability — Fairview

• Score: 75/100
• State rank: #85
• US rank: #4103

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fairview, OR
• County: Multnomah County · 786,692 people
• City population: 12,007
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 12,007
• Household income: $69,679
• Rent vs Own: 53.9% rent · 46.1% own
• Severe rent burden: 552.0

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 0.68)
• Race & ethnicity: White 48% Hispanic / Latino 27% Two or more races 15% Black 12% Pacific Islander 3% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 24%
• Common ancestry: Portuguese 3% Italian 3% Lithuanian 3%
• Foreign-born: 16% · Canada, Guatemala, Vietnam
• Languages at home: 69% English-only · Spanish 23% Other Asian/Pacific 3% Russian/Polish/Slavic 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: ▼ -72.88%
• Current HPI: 286.4915
• Rent YoY: ▼ -0.99%
• 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

1 event — show timeline

• 2025-12-14 Listed $75,000 RMLS

Property tax history

-4.2%/yr

Latest (2016): $285 · +4650.0% YoY. Source: county tax records.