14858 Heatherglen Dr #76 · Oregon City, OR 97045

$160,000

3 bd · 2.0 ba · 1,620 sqft · Condo · 13 Days on market

Built 1989

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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 +4.4/5.0
• Rent growth +2.8/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this spacious 3-bedroom, 2-bath residence offering 1,620 square feet of comfortable living space in desirable Country Village Estates. Featuring one of the most affordable 3-bedroom opportunities currently available in the community, this home combines exceptional value with desirable accessibility features. The inviting floor plan offers a private primary suite separated from the secondary bedrooms, creating a comfortable retreat with two walk-in closets, double sinks, a soaking tub, and a walk-in shower. The expansive living and dining areas provide plenty of room for entertaining, while the large kitchen features an island, breakfast nook, and newer appliances—all r

Key facts

• Breakfast nook
• Soaking tub
• Large kitchen

Tags

• PRIVATE PRIMARY SUITE
• TWO WALK-IN CLOSETS
• SOAKING TUB
• WALK-IN SHOWER
• LARGE KITCHEN
• BREAKFAST NOOK

Property features AI

Finance

• Other: Lot rent billed monthly
• Financial info: This is a manufactured home in a park with a land lease (land lease expires January 31, 2027)
• HOA & community: Located in Country Village Estates (community approval required after offer); Space rent includes sewer; lot rent charged monthly; Park allows up to 2 dogs with no breed or size restrictions; Application fee $55 per person for park residency

Exterior

• Parking: Carport; Driveway
• Security: Handicap access
• Utilities: Public water; Public sewer; Electric hot water; Electricity fuel; Cable and fiber optics internet available
• Home design: Manufactured home in a park (Redman manufacturer); Single-story (one level); No significant view
• Construction: Built in 1989; Composition roof; Skirting foundation
• Exterior features: Deck; Yard; T-111 siding

Interior

• Kitchen: Island; Pantry; Free-standing range; Free-standing refrigerator; Skylight in kitchen
• Bedrooms: Primary bedroom on main level with attached bathroom, double sinks, soaking tub, walk-in closet, and wall-to-wall carpet; Second bedroom on main level with closet and wall-to-wall carpet; Third bedroom on main level with closet and wall-to-wall carpet
• Flooring: Laminate flooring; Vinyl floor in bathrooms and laundry; Wall-to-wall carpet in living areas and bedrooms
• Bathrooms: Two full bathrooms (both on the main level); Main-level bathroom features walk-in shower; Primary bathroom includes double sinks and soaking tub
• Heating & cooling: Forced air heating; Heat pump (heating and cooling)
• Interior features: High ceilings; Skylight(s); Soaking tub; Accessible approach with ramp; Accessible entrance; Accessible full bath; Main floor bedroom with bath; Minimal steps; One level; Handicap access; High speed internet
• Laundry & utility: Main-level laundry with exterior entry; Washer and dryer included; Utility room on main

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $160k.

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 ($3k rent vs $160k).
• Cap rate 14.0% vs local median 2.6% in Oregon City — 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 87/100 on livability (#12 in OR, #271 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living F.
• Oregon City SD 62 (suburban): math 18% / reading 40% proficiency, ranked #40 of 58 in OR (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Redland Elementary School (math 24% / reading 34%, grade F, #263 of 412 statewide, top 68%, 496 students, 27% FRL); Tumwata Middle School (math 11% / reading 37%, grade F, #115 of 128 statewide, top 90%, 654 students, 34% FRL); Oregon City Senior High School (math 17% / reading 52%, grade F, #94 of 143 statewide, top 70%, 1,931 students, 25% FRL) — zoned schools at 29% FRL track the district average.
• Market conditions: Rents rising (+1.1%/yr); 408 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 2d 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 $5k 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.
• At projected returns (-3.0% appreciation + 1.1% rent growth), your $45k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $160,000

Questions for the listing agent

1. 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?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.60% ✓
• Cap rate: 14.04%
• Cash-on-cash: 27.66%
• DSCR: 2.23
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.12% rent growth · sell at horizon

5-year hold

• IRR: 19.7%
• Equity multiple: 1.78×
• Total profit: $35,054
• Equity at exit: $23,857

10-year hold

• IRR: 26.7%
• Equity multiple: 3.15×
• Total profit: $96,309
• Equity at exit: $13,834

Cash invested: $44,800 (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 97045

• Rents YoY: 1.1%
• Active inventory: 408
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $2,556 high
• Mortgage (P&I): −$839
• Tax from tax record: −$81 /mo · $970/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$537
• Net cashflow: $1,033

Break-even live

Break-even rent $1,249

Max offer price $160,000

Occupancy floor 55%

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18807 Nutmeg Ln Oregon City, OR	3.0	2.5	2044	$3,200	$1.57	23d	1	0.30mi
14338 S Maple Lane Ct Oregon City, OR	2.0–4.0	1.0–2.0	993	$2,000	$2.01	1d	14	0.51mi
14378 Walnut Grove Way Oregon City, OR	1.0–3.0	1.0–2.0	1015	$2,595	$2.56	1d	24	0.56mi
14155 Beavercreek Rd Oregon City, OR	1.0–3.0	1.0–2.0	878	$1,975	$2.25	1d	4	0.79mi
14155 Beavercreek Rd Apt 235 Oregon City, OR	3.0	2.0	1153	$1,995	$1.73	23d	1	0.79mi
15150 Gifford Ln Oregon City, OR	2.0	2.0	1073	$2,449	$2.28	14d	1	1.27mi
19839 Highway 213 Oregon City, OR	1.0–3.0	1.0–2.0	862	$1,918	$2.22	1d	13	1.50mi

HOA detail condo

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

Listing history 9 events

1. 2026-06-18
   days on market $160,000 Active 13 DOM
2. 2026-06-17
   days on market $160,000 Active 12 DOM
3. 2026-06-16
   days on market $160,000 Active 11 DOM
4. 2026-06-15
   days on market $160,000 Active 10 DOM
5. 2026-06-13
   days on market $160,000 Active 8 DOM
6. 2026-06-09
   days on market $160,000 Active 4 DOM
7. 2026-06-08
   days on market $160,000 Active 3 DOM
8. 2026-06-07
   remarks 693-char remark
9. 2026-06-07
   listed $160,000 Active 2 DOM

ⓘ 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: $970 · $81/mo
• Projected year-2 tax: $1,552 · $129/mo
• Expected delta: +$582/yr (+$49/mo · 60.0%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 13 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,669
• − Mortgage interest: −$8,962
• − Property taxes: −$970
• − Insurance: −$800
• − Repairs & maintenance: −$2,454
• − Management: −$2,454
• − Depreciation: −$4,655
• Taxable income: $10,375
• Est. tax owed @ 24.0%: −$2,490
• After-tax cash flow: $9,900/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: Oregon City SD 62
• NCES district ID: 4109330
• Math proficiency: 18% ▼ -21.00%
• Reading proficiency: 40% ▼ -18.00%
• Median HH income: $64,272
• Composite: 26.65/100
• National rank: #7169
• State rank: #40 of 58 in OR

Livability — Oregon City

• Score: 87/100
• State rank: #12
• US rank: #271

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Clackamas County · 361,406 people
• City population: 57,526
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 57,526
• Household income: $103,573
• Rent vs Own: 25.2% rent · 74.8% own
• Severe rent burden: 1045.0

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 (85%)
• Race & ethnicity: White 85% Two or more races 8% Hispanic / Latino 6% Asian 1% Black 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 4% Italian 3% Slovak 3%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 4% Russian/Polish/Slavic 2% Other Indo-European 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: ▼ -624.55%
• Current HPI: 301.9661
• Rent YoY: ▲ 1.12%
• 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

• 2026-06-05 Listed $160,000 RMLS

Property tax history

+4.8%/yr

Latest (2025): $970 · +11.0% YoY. Source: county tax records.