331 NE Bridgeton #7 · Portland, OR 97211

$249,900

3 bd · 2.0 ba · 1,560 sqft · Other · 362 Days on market

Built 1950 2,652 sqft lot $160/sqft · 38% below area Est $403k · 38% under $780/mo HOA · 25% of rent

---

Why this score? — see what drove the C- 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
• Cash flow +11.9/30.0
• 1% rule +7.4/10.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• DSCR +3.5/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

It is rare to find a floating home with this much space on one level! Keep it groovy or update it to your liking. Upon entering the house you are greeted with an enormous living room with a focus pulling fireplace! The wood work is the other star of the show here. The majority of the walls are clad in cedar with unique patterns throughout. This is a great layout for a room mate. There is a bedroom and full bathroom behind the living room. Around the kitchen corner you'll find the primary bedroom with ensuite bath along with a large flex room, great for an office or TV room. The primary bedroom set up can be accessed from the side door! The dining nook can accommodate a small table or use the existing fold up tables for workspace, dining space, or morning coffee while gazing out at the Columbia River and Sailboats. The amount of storage in this house is ridiculous. Coat closet, walk-in laundry, Side entry closet, the den has an enormous storage room, next to that there is a walk in pantry/closet with another closet behind that. In the primary there are two closets. That is just the inside of the house. The outside features an extremely large swim float for all your grillin’ needs. Vinyl siding and metal roof make for easy maintenance. This is a great price point to begin your life on the river.

Key facts

• Cedar walls
• Large flex room
• Ensuite bath

Tags

• ENORMOUS LIVING ROOM
• PULLING FIREPLACE
• CEDAR WALLS
• PRIMARY BEDROOM
• ENSUITE BATH
• LARGE FLEX ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $250k.

Deal economics

• At list price, monthly cash flow is $-489 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $179k (28.3% below list).
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $179k (28.3% below list) — sets the bar for cash-flow.
• Cap rate 6.0% 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.
• 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; 182 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 2,041 units permitted in Multnomah County in 2024 (905 in 5+ unit buildings).
• This rent runs 33% of the median local income ($113k/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 $7k 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 362 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago; this cycle's ask has dropped $25k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $184k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 25% of rent; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $179,143 (28.3% 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 362 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. Built in 1950 — 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. 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.
10. 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.
11. 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: 1.24% ✓
• Cap rate: 5.99%
• Cash-on-cash: -1.07%
• DSCR: 0.95
• GRM: 6.7

CMA / ARV

• ARV (median comp): $402,567
• List price: $249,900
• Delta: -37.92%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.52% rent growth · sell at horizon

5-year hold

• IRR: -36.1%
• Equity multiple: -0.12×
• Total profit: $-78,385
• Equity at exit: $37,261

10-year hold

• IRR: -87.7%
• Equity multiple: -0.92×
• Total profit: $-134,578
• Equity at exit: $21,607

Cash invested: $69,972 (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 97211

• Rents YoY: 0.5%
• Active inventory: 182
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $3,094 high
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,748/yr
• Insurance: −$104
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$780
• Vacancy / Maint / Mgmt: −$650
• Net cashflow: $-489

Break-even live

Break-even rent $3,713

Max offer price $179,143

Occupancy floor —

Sensitivity live

Price	-10% $-316	-5% $-403	+0% $-489	+5% $-575	+10% $-662
Rent	-10% $-733	-5% $-611	+0% $-489	+5% $-367	+10% $-245
Rate	-1.0pp $-363	-0.5pp $-425	base $-489	+0.5pp $-554	+1.0pp $-620

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
112 NE Bridgeton Rd Portland, OR	3.0	2.5	2200	$4,700	$2.14	45d	1	0.14mi
10722 NE 5th Ave Portland, OR	2.0	2.5	1611	$2,495	$1.55	18d	1	0.14mi
11505 NE Yacht Harbor Dr Portland, OR	2.0	2.0	2559	$4,383	$1.71	0d	5	0.26mi
110 N Tomahawk Island Dr Portland, OR	1.0–2.0	1.0–2.0	994	$2,674	$2.69	0d	25	0.34mi
995 N Marine Dr Portland, OR	2.0	1.0–2.0	924	$2,036	$2.20	0d	11	0.67mi
910 N Harbour Dr Portland, OR	1.0–2.0	1.0–2.0	1002	$1,949	$1.94	0d	3	0.69mi
540 N Hayden Bay Dr Portland, OR	3.0	2.0	1816	$3,095	$1.70	5d	1	0.73mi
1055 N Anchor Way Portland, OR	1.0–2.0	1.0–2.0	1056	$3,150	$2.98	0d	35	0.77mi
1034 NE Lija Loop Unit 10474-1022 Portland, OR	2.0	1.5	1094	$1,885	$1.72	9d	1	0.78mi
1245 N Anchor Way Portland, OR	2.0	1.0–2.0	868	$2,250	$2.59	0d	15	0.87mi
1421 SE Columbia Way Vancouver, WA	3.0	2.5	1700	$3,300	$1.94	19d	1	1.09mi
520 SE Columbia River Dr Vancouver, WA	2.0	2.0–2.5	1207	$2,395	$1.98	19d	2	1.10mi
520 SE Columbia River Dr #420 Vancouver, WA	2.0	2.5	1350	$2,495	$1.85	23d	1	1.10mi
1747 N Jantzen Ave Portland, OR	3.0	4.0	2000	$3,100	$1.55	45d	1	1.38mi

HOA detail

• Monthly dues: $780 · $9,360/yr

Listing history 20 events

1. 2026-06-21
   days on market $249,900 Active 362 DOM
2. 2026-06-18
   days on market $249,900 Active 359 DOM
3. 2026-06-17
   days on market $249,900 Active 358 DOM
4. 2026-06-16
   days on market $249,900 Active 357 DOM
5. 2026-06-15
   days on market $249,900 Active 356 DOM
6. 2026-06-13
   days on market $249,900 Active 354 DOM
7. 2026-06-09
   days on market $249,900 Active 350 DOM
8. 2026-06-08
   days on market $249,900 Active 349 DOM
9. 2026-06-07
   days on market $249,900 Active 348 DOM
10. 2026-06-03
    days on market $249,900 Active 344 DOM
11. 2026-06-02
    days on market $249,900 Active 343 DOM
12. 2026-06-01
    days on market $249,900 Active 342 DOM
13. 2026-05-31
    days on market $249,900 Active 341 DOM
14. 2026-05-02
    price $249,900 1320-char remark

    Show marketing remark (1320 chars)

    It is rare to find a floating home with this much space on one level! Keep it groovy or update it to your liking. Upon entering the house you are greeted with an enormous living room with a focus pulling fireplace! The wood work is the other star of the show here. The majority of the walls are clad in cedar with unique patterns throughout. This is a great layout for a room mate. There is a bedroom and full bathroom behind the living room. Around the kitchen corner you'll find the primary bedroom with ensuite bath along with a large flex room, great for an office or TV room. The primary bedroom set up can be accessed from the side door! The dining nook can accommodate a small table or use the existing fold up tables for workspace, dining space, or morning coffee while gazing out at the Columbia River and Sailboats. The amount of storage in this house is ridiculous. Coat closet, walk-in laundry, Side entry closet, the den has an enormous storage room, next to that there is a walk in pantry/closet with another closet behind that. In the primary there are two closets. That is just the inside of the house. The outside features an extremely large swim float for all your grillin’ needs. Vinyl siding and metal roof make for easy maintenance. This is a great price point to begin your life on the river.

15. 2026-05-01
    status Active 1320-char remark

    Show marketing remark (1320 chars)

    It is rare to find a floating home with this much space on one level! Keep it groovy or update it to your liking. Upon entering the house you are greeted with an enormous living room with a focus pulling fireplace! The wood work is the other star of the show here. The majority of the walls are clad in cedar with unique patterns throughout. This is a great layout for a room mate. There is a bedroom and full bathroom behind the living room. Around the kitchen corner you'll find the primary bedroom with ensuite bath along with a large flex room, great for an office or TV room. The primary bedroom set up can be accessed from the side door! The dining nook can accommodate a small table or use the existing fold up tables for workspace, dining space, or morning coffee while gazing out at the Columbia River and Sailboats. The amount of storage in this house is ridiculous. Coat closet, walk-in laundry, Side entry closet, the den has an enormous storage room, next to that there is a walk in pantry/closet with another closet behind that. In the primary there are two closets. That is just the inside of the house. The outside features an extremely large swim float for all your grillin’ needs. Vinyl siding and metal roof make for easy maintenance. This is a great price point to begin your life on the river.

16. 2025-08-30
    price $265,000 1320-char remark

    Show marketing remark (1320 chars)

    It is rare to find a floating home with this much space on one level! Keep it groovy or update it to your liking. Upon entering the house you are greeted with an enormous living room with a focus pulling fireplace! The wood work is the other star of the show here. The majority of the walls are clad in cedar with unique patterns throughout. This is a great layout for a room mate. There is a bedroom and full bathroom behind the living room. Around the kitchen corner you'll find the primary bedroom with ensuite bath along with a large flex room, great for an office or TV room. The primary bedroom set up can be accessed from the side door! The dining nook can accommodate a small table or use the existing fold up tables for workspace, dining space, or morning coffee while gazing out at the Columbia River and Sailboats. The amount of storage in this house is ridiculous. Coat closet, walk-in laundry, Side entry closet, the den has an enormous storage room, next to that there is a walk in pantry/closet with another closet behind that. In the primary there are two closets. That is just the inside of the house. The outside features an extremely large swim float for all your grillin’ needs. Vinyl siding and metal roof make for easy maintenance. This is a great price point to begin your life on the river.

17. 2025-06-24
    listed $275,000 Active 1320-char remark

    Show marketing remark (1320 chars)

    It is rare to find a floating home with this much space on one level! Keep it groovy or update it to your liking. Upon entering the house you are greeted with an enormous living room with a focus pulling fireplace! The wood work is the other star of the show here. The majority of the walls are clad in cedar with unique patterns throughout. This is a great layout for a room mate. There is a bedroom and full bathroom behind the living room. Around the kitchen corner you'll find the primary bedroom with ensuite bath along with a large flex room, great for an office or TV room. The primary bedroom set up can be accessed from the side door! The dining nook can accommodate a small table or use the existing fold up tables for workspace, dining space, or morning coffee while gazing out at the Columbia River and Sailboats. The amount of storage in this house is ridiculous. Coat closet, walk-in laundry, Side entry closet, the den has an enormous storage room, next to that there is a walk in pantry/closet with another closet behind that. In the primary there are two closets. That is just the inside of the house. The outside features an extremely large swim float for all your grillin’ needs. Vinyl siding and metal roof make for easy maintenance. This is a great price point to begin your life on the river.

18. 2018-05-22
    soldstatus $184,000 Sold 341-char remark

    Show marketing remark (341 chars)

    Sunny, Roomy and Comfortable! Classic Vintage Cabin. Spacious Floor Plan features 3 Bedrooms, Plenty of Storage and Lots of Potential. Warm Wood Walls, Large Living/Dining Areas, Breakfast Nook with River Views. Master Suite with Cedar-lined Double Closets. Huge Entry Deck. Friendly Moorage in the Heart of popular Bridgeton community.

19. 2018-04-12
    status Pending 341-char remark

    Show marketing remark (341 chars)

    Sunny, Roomy and Comfortable! Classic Vintage Cabin. Spacious Floor Plan features 3 Bedrooms, Plenty of Storage and Lots of Potential. Warm Wood Walls, Large Living/Dining Areas, Breakfast Nook with River Views. Master Suite with Cedar-lined Double Closets. Huge Entry Deck. Friendly Moorage in the Heart of popular Bridgeton community.

20. 2018-03-23
    listed $188,000 Active 341-char remark

    Show marketing remark (341 chars)

    Sunny, Roomy and Comfortable! Classic Vintage Cabin. Spacious Floor Plan features 3 Bedrooms, Plenty of Storage and Lots of Potential. Warm Wood Walls, Large Living/Dining Areas, Breakfast Nook with River Views. Master Suite with Cedar-lined Double Closets. Huge Entry Deck. Friendly Moorage in the Heart of popular Bridgeton community.

ⓘ 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 9/10 Extreme FEMA zone AE · 100% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 5 d/yr ≥92°F today · 10 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: $37,133
• − Mortgage interest: −$13,998
• − Property taxes: −$3,748
• − Insurance: −$6,368
• − Repairs & maintenance: −$2,971
• − Management: −$2,971
• − HOA: −$9,360
• − Depreciation: −$7,270
• Taxable loss: −$9,553
• Est. tax savings @ 24.0%: +$2,293
• After-tax cash flow: $-3,575/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: 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

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): 33,769
• Household income: $112,586
• Rent vs Own: 37.6% rent · 62.4% own
• Severe rent burden: 1162.0

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: Predominantly White (68%)
• Race & ethnicity: White 68% Two or more races 12% Black 10% Hispanic / Latino 9% Asian 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 3% Lithuanian 3% Slovak 3%
• Foreign-born: 7% · Canada, Vietnam, China
• Languages at home: 88% English-only · Spanish 6% French/Haitian/Cajun 1% Vietnamese 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: ▼ -813.54%
• Current HPI: 372.7719
• Rent YoY: ▲ 0.52%
• 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

+32.9% since first listed

7 events — show timeline

• 2026-05-02 Price Changed $249,900 RMLS
• 2026-05-01 Relisted — RMLS
• 2025-08-30 Price Changed $265,000 RMLS
• 2025-06-24 Listed $275,000 RMLS
• 2018-05-22 Sold (MLS) $184,000 RMLS
• 2018-04-12 Pending — RMLS
• 2018-03-23 Listed $188,000 RMLS