13115 SE Foster Rd #22 · Portland, OR 97236

$127,000

3 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 86 Days on market

Built 1988 $94/sqft · at area comps Est $124k · at est. ↓ 7% 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 +6.2/15.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Amazing Price Reduction!!! Charming home in the heart of SE Portland! Conveniently located on a bus line and just minutes from schools, shopping, and dining. If storage is a priority, this home delivers—featuring abundant cabinetry throughout and a beautifully updated kitchen with a skylight, new farmhouse sink, gooseneck faucet, tile countertops, and all appliances included. Enjoy both spacious living and family rooms, perfect for relaxing or entertaining. The private primary retreat features double-door entry into the ensuite bath, complete with a Solatube for natural light, dual sinks, tile countertops, a soaking tub/shower combination, and a large linen closet. The guest bathroom showcases a stunning, newer walk-in shower. Additional highlights include a large utility room with washer and dryer included, and a generously sized front deck—perfect for summer BBQs. The beautifully landscaped, fully fenced yard offers both privacy, charm and low maintenance. Don’t miss the incredible shed—fully wired with electricity, whitewashed walls, and windows—ideal as a she shed, he shed, art studio, or workshop. Recent upgrades include new plumbing throughout, a new roof, windows, furnace and AC, paint, carpet, doors and hardware, lighting, sinks, toilets, and more—making this home truly move-in ready. Nothing you need to do!

Key facts

• Front deck
• Ensuite bath
• Newer walk-in shower

Tags

• UPDATED KITCHEN
• PRIVATE PRIMARY RETREAT
• ENSUITE BATH
• NEWER WALK-IN SHOWER
• LARGE UTILITY ROOM
• FRONT DECK

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $127k.

Deal economics

• At list price, monthly cash flow is $828 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $127k).
• Recommended offer: $119k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.1% 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 rising (+1.6%/yr); 207 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 2,041 units permitted in Multnomah County in 2024 (905 in 5+ unit buildings).
• This rent runs 33% of the median local income ($75k/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 $878 of loan paydown is wiped out by about $4k 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 + 1.6% rent growth), your $36k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($119k) is reasonable based on typical stale-listing flexibility.

Recommended offer $119,380 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% 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: 1.63% ✓
• Cap rate: 14.12%
• Cash-on-cash: 27.94%
• DSCR: 2.24
• GRM: 5.1

CMA / ARV

• ARV (median comp): $123,500
• List price: $127,000
• Delta: 2.83%
• Verdict: FAIR
• Comps: 12 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5200 SE 132nd Ave	0.49mi	3/2.0	1,404 (+4%)	4mo	$90,000	$64	66
5200 SE 132nd Ave #24	0.49mi	3/2.0	1,296 (-4%)	21mo	$100,000	$77	54
13446 SE Schiller St	0.64mi	3/2.0	1,248 (-7%)	6mo	$89,850	$72	54
6209 SE 142nd Ave	0.61mi	3/2.0	1,296 (-4%)	15mo	$396,000	$306	54
6410 SE 125th Pl	0.27mi	2/2.0 (-1)	1,168 (-13%)	10mo	$135,900	$116	52
4903 SE 133rd Dr #65	0.62mi	3/2.0	1,188 (-12%)	10mo	$111,679	$94	43
4808 SE 134th Dr	0.67mi	3/2.0	1,152 (-14%)	4mo	$50,000	$43	41

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 · 1.64% rent growth · sell at horizon

5-year hold

• IRR: 20.6%
• Equity multiple: 1.83×
• Total profit: $29,358
• Equity at exit: $18,936

10-year hold

• IRR: 27.9%
• Equity multiple: 3.31×
• Total profit: $82,287
• Equity at exit: $10,981

Cash invested: $35,560 (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 97236

• Rents YoY: 1.6%
• Active inventory: 207
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $2,064 high
• Mortgage (P&I): −$666
• Tax from tax record: −$84 /mo · $1,008/yr
• Insurance: −$53
• HOA: −$0
• Vacancy / Maint / Mgmt: −$434
• Net cashflow: $828

Break-even live

Break-even rent $1,016

Max offer price $127,000

Occupancy floor 55%

Sensitivity live

Price	-10% $900	-5% $864	+0% $828	+5% $792	+10% $756
Rent	-10% $665	-5% $747	+0% $828	+5% $910	+10% $991
Rate	-1.0pp $892	-0.5pp $860	base $828	+0.5pp $795	+1.0pp $762

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: $31,750
• Closing costs: $3,810
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12941 SE Foster Rd Portland, OR	1.0–2.0	1.0–2.0	925	$1,595	$1.72	45d	2	0.07mi
12923 SE Foster Rd Portland, OR	2.0–3.0	2.0	1037	$2,100	$2.03	16d	3	0.11mi
6130 SE 128th Ave Apt B Portland, OR	3.0	2.0	1500	$1,999	$1.33	9d	1	0.15mi
12509 SE Foster Rd Unit 24341-C Portland, OR	2.0	1.0	885	$1,585	$1.79	4d	1	0.28mi
12509 SE Foster Rd Unit 243-29C Portland, OR	2.0	1.0	885	$1,585	$1.79	25d	1	0.28mi
13726 SE Reedway St Portland, OR	3.0	2.5	1817	$2,295	$1.26	45d	1	0.40mi
5329 SE 137th Ave Portland, OR	3.0	2.5	1559	$2,250	$1.44	25d	1	0.53mi
5344 SE 137th Ave Portland, OR	3.0	2.5	1600	$2,395	$1.50	19d	1	0.56mi
11908 SE Foster Rd Portland, OR	3.0	2.0	1300	$2,595	$2.00	45d	1	0.57mi
5524 SE 140th Pl Portland, OR	4.0	3.0	1584	$3,050	$1.93	18d	1	0.61mi
6439 SE 143rd Ct #1 Portland, OR	3.0	2.5	1545	$2,395	$1.55	45d	1	0.64mi
7148 SE 118th Dr Portland, OR	2.0	1.0	1400	$3,900	$2.79	45d	1	0.71mi
4904 SE 122nd Ave Portland, OR	3.0	3.0	1504	$4,400	$2.93	45d	1	0.72mi
4300 SE 122nd Ave Unit 146-4308 Portland, OR	2.0	1.0	950	$1,399	$1.47	45d	1	0.97mi
4257 SE 122nd Ave Portland, OR	2.0	2.0	946	$1,375	$1.45	4d	1	0.99mi
15110 SE Evergreen Dr Portland, OR	4.0	2.0	1650	$3,400	$2.06	12d	1	1.11mi
3883 SE 136th Ave Portland, OR	4.0	2.5	1660	$2,400	$1.45	45d	1	1.13mi
3745-3749 SE 127th Pl Unit 3749 Portland, OR	3.0	2.5	1467	$2,195	$1.50	9d	1	1.18mi
13436 SE Bush St Portland, OR	2.0–3.0	1.5–2.0	1075	$1,995	$1.86	45d	1	1.19mi
12231 SE Bush St Unit 83 Portland, OR	2.0	2.0	930	$1,450	$1.56	25d	1	1.21mi
12008 SE Bush St Portland, OR	2.0	2.0	1036	$1,700	$1.64	45d	1	1.24mi
5010 SE 108th Ave Portland, OR	3.0	2.0	1400	$2,350	$1.68	45d	1	1.25mi
3810 SE 117th Pl Portland, OR	3.0	2.5	1378	$2,445	$1.77	25d	1	1.28mi
11041 SE Holgate Blvd Portland, OR	2.0	2.5	1048	$1,795	$1.71	25d	1	1.29mi
13066 SE Powell Blvd Unit 10 Portland, OR	2.0	2.0	1100	$1,550	$1.41	25d	1	1.30mi
12550 SE Powell Blvd Portland, OR	1.0–3.0	1.0–2.0	1075	$2,300	$2.14	4d	2	1.33mi
13062 SE Powell Blvd Apt 6 Portland, OR	2.0	2.0	1100	$1,550	$1.41	45d	1	1.33mi
3540 SE 119th Ave Unit 4 Portland, OR	2.0	2.0	900	$1,550	$1.72	25d	1	1.37mi
10752 SE Holgate Blvd Portland, OR	2.0	1.0	974	$1,450	$1.49	45d	1	1.40mi
3315 SE 127th Pl Unit 1 Portland, OR	2.0	1.0	1346	$1,595	$1.18	12d	1	1.40mi
13746 SE Powell Blvd Portland, OR	2.0–3.0	1.0	763	$1,325	$1.74	4d	2	1.41mi
13938 SE Powell Blvd Unit 2 Portland, OR	2.0	1.0	900	$1,535	$1.71	45d	1	1.46mi
3228 SE 136th Ave Portland, OR	2.0–3.0	1.5	1058	$1,597	$1.51	5d	4	1.48mi
3208 SE 136th Ave Unit 45 Portland, OR	2.0	1.5	900	$1,397	$1.55	25d	1	1.49mi
3208 SE 136th Ave Unit 3 Portland, OR	3.0	1.5	1217	$1,597	$1.31	25d	1	1.49mi

Listing history 17 events

1. 2026-06-21
   days on market $127,000 Active 86 DOM
2. 2026-06-18
   days on market $127,000 Active 83 DOM
3. 2026-06-17
   days on market $127,000 Active 82 DOM
4. 2026-06-16
   days on market $127,000 Active 81 DOM
5. 2026-06-15
   days on market $127,000 Active 80 DOM
6. 2026-06-13
   days on market $127,000 Active 78 DOM
7. 2026-06-09
   days on market $127,000 Active 74 DOM
8. 2026-06-08
   days on market $127,000 Active 73 DOM
9. 2026-06-07
   days on market $127,000 Active 72 DOM
10. 2026-06-05
    days on market $127,000 Active 69 DOM
11. 2026-06-03
    days on market $127,000 Active 68 DOM
12. 2026-06-02
    days on market $127,000 Active 67 DOM
13. 2026-06-01
    days on market $127,000 Active 66 DOM
14. 2026-05-31
    days on market $127,000 Active 65 DOM
15. 2026-05-06
    price $127,000 1375-char remark

    Show marketing remark (1375 chars)

    Amazing Price Reduction!!! Charming home in the heart of SE Portland! Conveniently located on a bus line and just minutes from schools, shopping, and dining. If storage is a priority, this home delivers—featuring abundant cabinetry throughout and a beautifully updated kitchen with a skylight, new farmhouse sink, gooseneck faucet, tile countertops, and all appliances included. Enjoy both spacious living and family rooms, perfect for relaxing or entertaining. The private primary retreat features double-door entry into the ensuite bath, complete with a Solatube for natural light, dual sinks, tile countertops, a soaking tub/shower combination, and a large linen closet. The guest bathroom showcases a stunning, newer walk-in shower. Additional highlights include a large utility room with washer and dryer included, and a generously sized front deck—perfect for summer BBQs. The beautifully landscaped, fully fenced yard offers both privacy, charm and low maintenance. Don’t miss the incredible shed—fully wired with electricity, whitewashed walls, and windows—ideal as a she shed, he shed, art studio, or workshop. Recent upgrades include new plumbing throughout, a new roof, windows, furnace and AC, paint, carpet, doors and hardware, lighting, sinks, toilets, and more—making this home truly move-in ready. Nothing you need to do!

16. 2026-04-25
    price $132,000 1375-char remark

    Show marketing remark (1375 chars)

    Amazing Price Reduction!!! Charming home in the heart of SE Portland! Conveniently located on a bus line and just minutes from schools, shopping, and dining. If storage is a priority, this home delivers—featuring abundant cabinetry throughout and a beautifully updated kitchen with a skylight, new farmhouse sink, gooseneck faucet, tile countertops, and all appliances included. Enjoy both spacious living and family rooms, perfect for relaxing or entertaining. The private primary retreat features double-door entry into the ensuite bath, complete with a Solatube for natural light, dual sinks, tile countertops, a soaking tub/shower combination, and a large linen closet. The guest bathroom showcases a stunning, newer walk-in shower. Additional highlights include a large utility room with washer and dryer included, and a generously sized front deck—perfect for summer BBQs. The beautifully landscaped, fully fenced yard offers both privacy, charm and low maintenance. Don’t miss the incredible shed—fully wired with electricity, whitewashed walls, and windows—ideal as a she shed, he shed, art studio, or workshop. Recent upgrades include new plumbing throughout, a new roof, windows, furnace and AC, paint, carpet, doors and hardware, lighting, sinks, toilets, and more—making this home truly move-in ready. Nothing you need to do!

17. 2026-03-19
    listed $136,000 Active 1375-char remark

    Show marketing remark (1375 chars)

    Amazing Price Reduction!!! Charming home in the heart of SE Portland! Conveniently located on a bus line and just minutes from schools, shopping, and dining. If storage is a priority, this home delivers—featuring abundant cabinetry throughout and a beautifully updated kitchen with a skylight, new farmhouse sink, gooseneck faucet, tile countertops, and all appliances included. Enjoy both spacious living and family rooms, perfect for relaxing or entertaining. The private primary retreat features double-door entry into the ensuite bath, complete with a Solatube for natural light, dual sinks, tile countertops, a soaking tub/shower combination, and a large linen closet. The guest bathroom showcases a stunning, newer walk-in shower. Additional highlights include a large utility room with washer and dryer included, and a generously sized front deck—perfect for summer BBQs. The beautifully landscaped, fully fenced yard offers both privacy, charm and low maintenance. Don’t miss the incredible shed—fully wired with electricity, whitewashed walls, and windows—ideal as a she shed, he shed, art studio, or workshop. Recent upgrades include new plumbing throughout, a new roof, windows, furnace and AC, paint, carpet, doors and hardware, lighting, sinks, toilets, and more—making this home truly move-in ready. Nothing you need to do!

ⓘ 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: $1,008 · $84/mo
• Projected year-2 tax: $1,232 · $103/mo
• Expected delta: +$224/yr (+$19/mo · 22.3%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥91°F today · 16 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: $24,774
• − Mortgage interest: −$7,114
• − Property taxes: −$1,008
• − Insurance: −$635
• − Repairs & maintenance: −$1,982
• − Management: −$1,982
• − Depreciation: −$3,695
• Taxable income: $8,359
• Est. tax owed @ 24.0%: −$2,006
• After-tax cash flow: $7,931/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): 37,558
• Household income: $75,090
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 1744.0

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 21% Asian 13% Two or more races 12% Black 9% Pacific Islander 1%
• Hispanic origin (detail): Mexican 15% Cuban 1%
• Common ancestry: Italian 3% Scotch-Irish 2% Subsaharan African 2%
• Foreign-born: 25% · Canada, Vietnam, China
• Languages at home: 63% English-only · Spanish 16% Vietnamese 6% Russian/Polish/Slavic 5%

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: ▼ -334.44%
• Current HPI: 289.931
• Rent YoY: ▲ 1.64%
• 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

-6.6% since first listed

3 events — show timeline

• 2026-05-06 Price Changed $127,000 RMLS
• 2026-04-25 Price Changed $132,000 RMLS
• 2026-03-19 Listed $136,000 RMLS

Property tax history

+4.4%/yr

Latest (2022): $1,008 · +5.7% YoY. Source: county tax records.