13045 SE Stark St #124 · Portland, OR 97233

$74,999

2 bd · 1.0 ba · 728 sqft · Manufactured public records · 408 Days on market

Built 1993 $103/sqft · 132% above area ↓ 17% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

**LIMITED TIME OFFER ON SPACE RENT-$999/MONTH FOR THE FIRST YEAR** Modern Comfort & Great Value in a Convenient Location! Step inside this beautifully refreshed 2-bedroom, 1.5-bath manufactured home where comfort meets potential. Featuring newer siding, high ceilings, and a bright, inviting living space, this home offers the perfect blend of style and practicality. The spacious kitchen is ready for your personal touches — an ideal opportunity to add your own flair and make it truly yours. Whether you’re relaxing after a long day or entertaining friends, this home provides the cozy atmosphere and modern updates you’ve been looking for. Located in a well-maintained community close to shopping, dining, and major routes, this is an opportunity you don’t want to miss!

Key facts

• Main living area
• Newer siding
• High ceilings

Tags

• NEWER SIDING
• HIGH CEILINGS
• MAIN LIVING AREA

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $75k.

Deal economics

• At list price, monthly cash flow is $579 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.6% 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.
• David Douglas SD 40 (urban): math 34% / reading 49% proficiency, ranked #99 of 183 in OR (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 153 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $518 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 + 1.0% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 408 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.

Recommended offer $65,999 (12.0% below list)

Questions for the listing agent

1. It's been on market 408 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.75% ✓
• Cap rate: 15.55%
• Cash-on-cash: 33.08%
• DSCR: 2.47
• GRM: 4.8

CMA / ARV

• ARV (median comp): $35,000
• List price: $74,999
• Delta: 114.28%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13045 SE Stark St	0.02mi	2/1.0	696 (-4%)	2mo	$35,000	$50	90
13045 SE Stark St #103	0.00mi	3/1.0 (+1)	684 (-6%)	13mo	$87,000	$127	74

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 · 0.96% rent growth · sell at horizon

5-year hold

• IRR: 26.0%
• Equity multiple: 2.05×
• Total profit: $22,054
• Equity at exit: $11,183

10-year hold

• IRR: 32.5%
• Equity multiple: 3.68×
• Total profit: $56,198
• Equity at exit: $6,485

Cash invested: $21,000 (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 →

ZIP-level market 97233

• Rents YoY: 1.0%
• Active inventory: 153
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,314 high
• Mortgage (P&I): −$393
• Tax from tax record: −$34 /mo · $413/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $579

Break-even live

Break-even rent $581

Max offer price $74,999

Occupancy floor 51%

Sensitivity live

Price	-10% $621	-5% $600	+0% $579	+5% $558	+10% $536
Rent	-10% $475	-5% $527	+0% $579	+5% $631	+10% $683
Rate	-1.0pp $617	-0.5pp $598	base $579	+0.5pp $559	+1.0pp $540

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 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13110 SE Stark St Unit 02 Portland, OR	2.0	1.0	750	$1,450	$1.93	44d	1	0.08mi
13110 SE Stark St Unit 13 Portland, OR	2.0	1.0	750	$1,375	$1.83	5d	1	0.08mi
450 SE 127th Ave Unit 319 Portland, OR	1.0	1.0	605	$1,300	$2.15	44d	1	0.11mi
450 SE 127th Ave Unit 216 Portland, OR	1.0	1.0	605	$1,100	$1.82	11d	1	0.11mi
450 SE 127th Ave Unit 316 Portland, OR	1.0	1.0	605	$1,100	$1.82	8d	1	0.11mi
450 SE 127th Ave Unit 314 Portland, OR	1.0	1.0	605	$1,175	$1.94	5d	1	0.11mi
12621 SE Stark St Portland, OR	1.0–2.0	1.0	564	$1,131	$2.01	44d	1	0.16mi
404 SE 133rd Ave Unit 404 Portland, OR	1.0	1.0	410	$1,010	$2.46	24d	1	0.20mi
303 SE 126th Ave Unit 20 Portland, OR	1.0	1.0	550	$1,200	$2.18	2d	1	0.20mi
412 SE 133rd Ave Unit 412 Portland, OR	1.0	1.0	410	$1,125	$2.74	44d	1	0.21mi
12636 SE Alder St Portland, OR	1.0–2.0	1.0–2.0	840	$1,550	$1.85	3d	3	0.22mi
13400 SE Stark St Unit 08 Portland, OR	1.0	1.0	600	$1,150	$1.92	44d	1	0.24mi
13210 E Burnside St Unit 13210 Portland, OR	1.0	1.0	589	$995	$1.69	22d	1	0.26mi
13625 SE Stark St Portland, OR	1.0	1.0	675	$1,150	$1.70	3d	1	0.35mi
13625 SE Stark St Portland, OR	1.0–2.0	1.0–1.5	787	$1,500	$1.90	8d	5	0.35mi
13625 SE Stark St Portland, OR	1.0	1.0	675	$1,150	$1.70	24d	1	0.35mi
12026 SE Ash St Unit 207 Portland, OR	2.0	1.0	700	$1,200	$1.71	24d	1	0.46mi
12026 SE Ash St Unit 214 Portland, OR	2.0	1.0	700	$1,300	$1.86	44d	1	0.46mi
12026 SE Ash St Unit 105 Portland, OR	1.0	1.0	615	$1,100	$1.79	22d	1	0.46mi
12026 SE Ash St Apt 213 Portland, OR	2.0	1.0	700	$1,350	$1.93	13d	1	0.46mi
132 SE 119th Ave #5 Portland, OR	1.0	1.0	360	$985	$2.74	3d	1	0.52mi
11873 SE Pine St Unit 11873 Portland, OR	1.0	1.0	675	$1,375	$2.04	13d	1	0.54mi
1538 SE 122nd Ave Portland, OR	1.0	1.0	595	$1,125	$1.89	8d	3	0.58mi
1538 SE 122nd Ave Unit 276-42 Portland, OR	1.0	1.0	595	$1,050	$1.76	24d	1	0.59mi
1538 SE 122nd Ave Unit 276-11 Portland, OR	1.0	1.0	595	$1,125	$1.89	24d	1	0.59mi
12094 SE Market St Portland, OR	2.0	2.0	700	$1,800	$2.57	44d	1	0.69mi
220 SE 143rd Ave Portland, OR	2.0	1.0	700	$1,375	$1.96	44d	1	0.72mi
255 SE 146th Ave Portland, OR	1.0	1.0	695	$1,175	$1.69	8d	2	0.77mi
245 SE 146th Ave Unit 223 Portland, OR	1.0	1.0	695	$1,175	$1.69	8d	1	0.77mi
11509 SE Main St Portland, OR	1.0	1.0	400	$1,050	$2.62	44d	1	0.79mi
255 SE 146th Ave Unit 132 Portland, OR	1.0	1.0	695	$1,175	$1.69	8d	1	0.79mi
2016 SE 122nd Ave Portland, OR	1.0–2.0	1.0–1.5	881	$1,875	$2.13	8d	9	0.81mi
2016 SE 122nd Ave Portland, OR	1.0–2.0	1.0–1.5	881	$1,875	$2.13	13d	9	0.81mi
110114 SE 146th Ave Unit 110-2 Portland, OR	1.0	1.0	686	$1,250	$1.82	8d	1	0.87mi
2135 SE 122nd Ave Apt 19 Portland, OR	1.0	1.0	640	$1,200	$1.88	3d	1	0.92mi
177 NE 147th Ave Portland, OR	1.0–2.0	1.0–2.0	660	$1,570	$2.38	5d	2	0.93mi
12633 SE Division St Apt 36 Portland, OR	1.0	1.0	650	$1,200	$1.85	11d	1	0.94mi
13024 SE Tessa St Apt 6 Portland, OR	1.0	1.0	600	$1,150	$1.92	21d	1	0.96mi
13024 SE Tessa St #7 Portland, OR	1.0	1.0	600	$1,095	$1.82	24d	1	0.96mi
583 NE 113th Ave Portland, OR	2.0	2.0	700	$1,895	$2.71	15d	1	0.97mi

Listing history 19 events

1. 2026-06-18
   days on market $74,999 Active 408 DOM
2. 2026-06-17
   days on market $74,999 Active 407 DOM
3. 2026-06-16
   days on market $74,999 Active 406 DOM
4. 2026-06-15
   days on market $74,999 Active 405 DOM
5. 2026-06-13
   days on market $74,999 Active 403 DOM
6. 2026-06-09
   days on market $74,999 Active 399 DOM
7. 2026-06-08
   days on market $74,999 Active 398 DOM
8. 2026-06-07
   days on market $74,999 Active 397 DOM
9. 2026-06-05
   days on market $74,999 Active 394 DOM
10. 2026-06-03
    days on market $74,999 Active 393 DOM
11. 2026-06-02
    days on market $74,999 Active 392 DOM
12. 2026-06-01
    days on market $74,999 Active 391 DOM
13. 2026-05-31
    days on market $74,999 Active 390 DOM
14. 2026-05-01
    price $74,999 801-char remark

    Show marketing remark (801 chars)

    **LIMITED TIME OFFER ON SPACE RENT-$999/MONTH FOR THE FIRST YEAR** Modern Comfort & Great Value in a Convenient Location! Step inside this beautifully refreshed 2-bedroom, 1.5-bath manufactured home where comfort meets potential. Featuring newer siding, high ceilings, and a bright, inviting living space, this home offers the perfect blend of style and practicality. The spacious kitchen is ready for your personal touches — an ideal opportunity to add your own flair and make it truly yours. Whether you’re relaxing after a long day or entertaining friends, this home provides the cozy atmosphere and modern updates you’ve been looking for. Located in a well-maintained community close to shopping, dining, and major routes, this is an opportunity you don’t want to miss!

15. 2025-09-11
    price $78,999

    Show marketing remark (801 chars)

    **LIMITED TIME OFFER ON SPACE RENT-$999/MONTH FOR THE FIRST YEAR** Modern Comfort & Great Value in a Convenient Location! Step inside this beautifully refreshed 2-bedroom, 1.5-bath manufactured home where comfort meets potential. Featuring newer siding, high ceilings, and a bright, inviting living space, this home offers the perfect blend of style and practicality. The spacious kitchen is ready for your personal touches — an ideal opportunity to add your own flair and make it truly yours. Whether you’re relaxing after a long day or entertaining friends, this home provides the cozy atmosphere and modern updates you’ve been looking for. Located in a well-maintained community close to shopping, dining, and major routes, this is an opportunity you don’t want to miss!

16. 2025-09-11
    price $78,999 801-char remark

    Show marketing remark (801 chars)

    **LIMITED TIME OFFER ON SPACE RENT-$999/MONTH FOR THE FIRST YEAR** Modern Comfort & Great Value in a Convenient Location! Step inside this beautifully refreshed 2-bedroom, 1.5-bath manufactured home where comfort meets potential. Featuring newer siding, high ceilings, and a bright, inviting living space, this home offers the perfect blend of style and practicality. The spacious kitchen is ready for your personal touches — an ideal opportunity to add your own flair and make it truly yours. Whether you’re relaxing after a long day or entertaining friends, this home provides the cozy atmosphere and modern updates you’ve been looking for. Located in a well-maintained community close to shopping, dining, and major routes, this is an opportunity you don’t want to miss!

17. 2025-07-05
    price $84,999 801-char remark

    Show marketing remark (801 chars)

    **LIMITED TIME OFFER ON SPACE RENT-$999/MONTH FOR THE FIRST YEAR** Modern Comfort & Great Value in a Convenient Location! Step inside this beautifully refreshed 2-bedroom, 1.5-bath manufactured home where comfort meets potential. Featuring newer siding, high ceilings, and a bright, inviting living space, this home offers the perfect blend of style and practicality. The spacious kitchen is ready for your personal touches — an ideal opportunity to add your own flair and make it truly yours. Whether you’re relaxing after a long day or entertaining friends, this home provides the cozy atmosphere and modern updates you’ve been looking for. Located in a well-maintained community close to shopping, dining, and major routes, this is an opportunity you don’t want to miss!

18. 2025-07-01
    price $84,999
19. 2025-05-06
    listed $89,999 Active 801-char remark

    Show marketing remark (801 chars)

    **LIMITED TIME OFFER ON SPACE RENT-$999/MONTH FOR THE FIRST YEAR** Modern Comfort & Great Value in a Convenient Location! Step inside this beautifully refreshed 2-bedroom, 1.5-bath manufactured home where comfort meets potential. Featuring newer siding, high ceilings, and a bright, inviting living space, this home offers the perfect blend of style and practicality. The spacious kitchen is ready for your personal touches — an ideal opportunity to add your own flair and make it truly yours. Whether you’re relaxing after a long day or entertaining friends, this home provides the cozy atmosphere and modern updates you’ve been looking for. Located in a well-maintained community close to shopping, dining, and major routes, this is an opportunity you don’t want to miss!

ⓘ 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: $413 · $34/mo
• Projected year-2 tax: $727 · $61/mo
• Expected delta: +$314/yr (+$26/mo · 76.1%)

ⓘ 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 23 unhealthy d/yr today · 27 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,764
• − Mortgage interest: −$4,201
• − Property taxes: −$413
• − Insurance: −$375
• − Repairs & maintenance: −$1,261
• − Management: −$1,261
• − Depreciation: −$2,182
• Taxable income: $6,071
• Est. tax owed @ 24.0%: −$1,457
• After-tax cash flow: $5,489/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: David Douglas SD 40
• NCES district ID: 4103940
• Math proficiency: 34% ▲ 1.00%
• Reading proficiency: 49% ▲ 1.00%
• Median HH income: $42,781
• Composite: 37.38/100
• National rank: #8926
• State rank: #99 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): 36,236
• Household income: $60,198
• Rent vs Own: 53.0% rent · 47.0% own
• Severe rent burden: 2541.0

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 23% Two or more races 13% Asian 9% Black 9% Native American 2%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Scotch-Irish 4% Portuguese 3% Subsaharan African 3%
• Foreign-born: 25% · Canada, Vietnam, China
• Languages at home: 61% English-only · Spanish 18% Russian/Polish/Slavic 7% Other Asian/Pacific 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: ▼ -493.14%
• Current HPI: 302.1015
• Rent YoY: ▲ 0.96%
• 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

-16.7% since first listed

6 events — show timeline

• 2026-05-01 Price Changed $74,999 RMLS
• 2025-09-11 Price Changed $78,999 WVMLS
• 2025-09-11 Price Changed $78,999 RMLS
• 2025-07-05 Price Changed $84,999 RMLS
• 2025-07-01 Price Changed $84,999 WVMLS
• 2025-05-06 Listed $89,999 RMLS

Property tax history

-0.9%/yr

Latest (2016): $413 · +13.8% YoY. Source: county tax records.