32700 SE Leewood Ln #26 · Boring, OR 97009

$210,000

3 bd · 2.0 ba · 1,599 sqft · Other · 16 Days on market

Built 2022 Good condition

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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
• Schools +5.0/10.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Nestled among towering trees in the peaceful community of Big Valley Woods, this charming 2022, 3 bedroom, 2 bathroom double wide manufactured home offers 1,599sqft of comfortable living space and a tranquil connection to nature. Inside you will find a massive open concept space, double living room, custom built-ins in the dining room, high ceilings, grand kitchen with pantry and island massive laundry area with sink. Primary bedroom is secluded from the other bedrooms and has a walk in closet and his and her sink. Step outside onto the inviting deck, an ideal spot for morning coffee, outdoor dining, or simply unwinding while enjoying the sights and sounds of the surrounding forest. The pr

Key facts

• Tool shed
• Open concept space
• Community amenities

Tags

• OPEN CONCEPT SPACE
• CUSTOM BUILT-INS
• WALK IN CLOSET
• INVITING DECK
• TOOL SHED
• COMMUNITY AMENITIES

Property features AI

Finance

• Other: Property is resale; Main living area approximately 1,599 (title/recorded); View of trees/woods
• Financial info: Lot rent $1,320 monthly
• HOA & community: Community offers commons area, gym/weight room, management, and road maintenance; Park name: Big Valley Woods

Exterior

• Parking: Carport; Driveway
• Security: Not specified
• Utilities: Electric fuel; Public water; Public sewer
• Home design: Manufactured home in a park (residential); One-level entry; Nice view of trees/woods
• Construction: Built in 2022; Shingle roof; Skirting foundation
• Exterior features: Deck; Patio; Tool shed; T-111 siding; Level lot; Concrete and paved road access

Interior

• Kitchen: Built-in refrigerator; Dishwasher; Island; Microwave; Pantry
• Bedrooms: Primary bedroom on main level with closet and high ceilings; Second bedroom on main level with closet; Third bedroom on main level with closet
• Flooring: Not specified
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Forced air heating; Heat pump providing heating and cooling
• Interior features: High ceilings; Laundry area with washer/dryer included; Vinyl window frames; Crawl space basement; Accessible one-level layout
• Laundry & utility: Washer and dryer included; Electric hot water

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $210k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $210k).
• Recommended offer: $207k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Oregon Trail SD 46 (town): math 47% / reading 64% proficiency, ranked #12 of 183 in OR (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Naas Elementary School (345 students, 47% FRL); Boring Middle School (405 students, 34% FRL); Sandy High School (1,440 students, 32% FRL) — zoned schools at 38% FRL track the district average.
• Market conditions: 38 active listings in the ZIP; 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 $6k 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 + 3.0% rent growth), your $59k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($207k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $206,850 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.51% ✓
• Cap rate: 12.89%
• Cash-on-cash: 23.55%
• DSCR: 2.05
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 16.7%
• Equity multiple: 1.67×
• Total profit: $39,468
• Equity at exit: $31,312

10-year hold

• IRR: 25.2%
• Equity multiple: 3.19×
• Total profit: $128,970
• Equity at exit: $18,157

Cash invested: $58,800 (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 97009

• Active inventory: 38
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $3,172 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$163 /mo · $1,954/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$666
• Net cashflow: $1,154

Break-even live

Break-even rent $1,711

Max offer price $210,000

Occupancy floor 59%

Sensitivity live

Price	-10% $1,273	-5% $1,214	+0% $1,154	+5% $1,095	+10% $1,035
Rent	-10% $904	-5% $1,029	+0% $1,154	+5% $1,279	+10% $1,405
Rate	-1.0pp $1,260	-0.5pp $1,208	base $1,154	+0.5pp $1,100	+1.0pp $1,044

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   days on market $210,000 Active 16 DOM
2. 2026-06-17
   days on market $210,000 Active 15 DOM
3. 2026-06-16
   days on market $210,000 Active 14 DOM
4. 2026-06-15
   days on market $210,000 Active 13 DOM
5. 2026-06-13
   days on market $210,000 Active 11 DOM
6. 2026-06-13
   days on market $210,000 Active 10 DOM
7. 2026-06-09
   days on market $210,000 Active 7 DOM
8. 2026-06-08
   days on market $210,000 Active 6 DOM
9. 2026-06-07
   days on market $210,000 Active 5 DOM
10. 2026-06-03
    remarks 699-char remark
11. 2026-06-03
    listed $210,000 Active 1 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: $1,954 · $163/mo
• Projected year-2 tax: $2,037 · $170/mo
• Expected delta: +$83/yr (+$7/mo · 4.3%)

ⓘ 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 5/10 Major
• 🌡 Heat 2/10 Low 7 d/yr ≥90°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 11 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,062
• − Mortgage interest: −$11,763
• − Property taxes: −$1,954
• − Insurance: −$1,050
• − Repairs & maintenance: −$3,045
• − Management: −$3,045
• − Depreciation: −$6,109
• Taxable income: $11,096
• Est. tax owed @ 24.0%: −$2,663
• After-tax cash flow: $11,187/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This charming 2022 manufactured home is in good condition with a good condition score of 80. It offers a good investment opportunity with minimal repairs and maintenance required.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value
• Both Clean gutters — Improves drainage and overall appearance

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Clean gutters — Improves drainage and overall appearance ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Oregon Trail SD 46
• NCES district ID: 4110890
• Math proficiency: 47% ▬ 0.00%
• Reading proficiency: 64% ▲ 1.00%
• Median HH income: $61,406
• Composite: 50.19/100
• National rank: #4075
• State rank: #12 of 183 in OR

Livability — Boring

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 7,877

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 (73%)
• Race & ethnicity: White 73% Hispanic / Latino 18% Two or more races 14% Asian 1%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Portuguese 3% Slovak 3% Iranian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 91% English-only · Spanish 7% Other Indo-European 2%

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: ▼ -238.15%
• Current HPI: 307.0405
• Rent YoY: —
• Metro: —
• 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

• 2026-06-02 Listed $210,000 RMLS

Property tax history

+3.6%/yr

Latest (2025): $1,954 · +4.6% YoY. Source: county tax records.