7521 N Gloucester Ave N · Portland, OR 97203

$699,999

15 bd · 9.0 ba · 3,892 sqft · MultiFamily · 34 Days on market

Built 1909 Fair condition 4,356 sqft lot $180/sqft · 15% below area Est $821k · 15% under

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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).

• Cash flow +16.5/30.0
• ARV discount +14.1/15.0
• DSCR +5.1/10.0
• Schools +4.7/10.0
• 1% rule +4.5/10.0
• Livability +3.9/5.0
• Rent growth +3.0/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Great property for the savvy first time buyer. Owner Occupied may qualify for with a low down FHA loan or Key Bank 100% financing and live in the upstairs 2 bedroom unit and and rent out the other two! Great North Portland neighborhood, nestled between Kenton and St. Johns! Located near several parks and University of Portland. Good numbers. Close to bus lines. All units separately metered.

Key facts

• Mixed-use triplex
• Turnkey investment
• Deck

Tags

• MIXED-USE TRIPLEX
• TURNKEY INVESTMENT
• COMMERCIAL FLEXIBILITY
• BASEMENT STORAGE
• SHARED BACKYARD
• DECK

Property features AI

Finance

• Other: Zoned CM2
• Financial info: Property configured as three rental units with current rents: $1,155; $1,520; $1,600; Cap rate reported; Gross rent multiplier reported; Rent includes grounds maintenance
• HOA & community: Community landscaping maintained; Community laundry

Exterior

• Parking: On-street parking
• Security: Security system (owned)
• Utilities: Public water; Public sewer; Gas fuel; Cable internet; Green certified
• Home design: Multi-family property; Detached; Built in 1909; Updated/remodeled
• Construction: Concrete perimeter foundation
• Exterior features: Shingle roof; Wood siding; Property offers tree views; On busline; Paved road access

Interior

• Kitchen: Refrigerator (in one unit)
• Bedrooms: One 1-bedroom unit; Two 2-bedroom units
• Flooring: Hardwood floors (in some units)
• Bathrooms: Each unit has one bathroom
• Heating & cooling: Forced air heating; Central air and window unit cooling (in at least one unit)
• Interior features: Daylight basement with exterior entry and locked storage; Window coverings; Fireplace (in one unit); Decks (in multiple units); Updated/remodeled condition
• Laundry & utility: Laundry available in the community; Gas hot water

What this means for you Summary

Snapshot

• This is a 1×1bd/1ba + 2×2bd/1ba units multifamily listed at $700k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $416 ($5k/yr) — positive. Per door: $139/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $665k (5.0% below list).
• Recommended offer: $665k (5.0% below list) — sets the bar for 1% rule.
• Cap rate 7.0% 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: Astor Elementary School (368 students, 64% FRL); Roosevelt High School (1,484 students, 65% FRL) — zoned schools average 65% FRL vs 37% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.1%/yr); 205 active listings in the ZIP; solid renter incomes; 2,041 units permitted in Multnomah County in 2024 (905 in 5+ unit buildings).
• At $6,650/mo this rent would consume 101% of the median local household income ($79k/yr) (locally 1401% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $21k 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 34 days — a 3% lower offer ($679k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 21y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $347k; list at $700k implies a 102% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1909 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $665,000 (5.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1909 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 0.95% ✗
• Cap rate: 7.01%
• Cash-on-cash: 2.55%
• DSCR: 1.11
• GRM: 8.8

CMA / ARV

• ARV (median comp): $820,692
• List price: $699,999
• Delta: -14.71%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.11% rent growth · sell at horizon

5-year hold

• IRR: -13.3%
• Equity multiple: 0.53×
• Total profit: $-92,740
• Equity at exit: $104,372

10-year hold

• IRR: -5.7%
• Equity multiple: 0.64×
• Total profit: $-70,026
• Equity at exit: $60,523

Cash invested: $196,000 (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 97203

• Rents YoY: 2.1%
• Active inventory: 205
• Price-to-rent: 28.2×

Monthly cashflow live

• Estimated rent: $6,650 high
• Mortgage (P&I): −$3,671
• Tax est. 1.5%: −$875 /mo · $10,500/yr
• Insurance: −$292
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,396
• Net cashflow: $416

Break-even live

Break-even rent $6,123

Max offer price $699,999

Occupancy floor 89%

Sensitivity live

Price	-10% $900	-5% $658	+0% $416	+5% $174	+10% $-68
Rent	-10% $-109	-5% $153	+0% $416	+5% $679	+10% $941
Rate	-1.0pp $768	-0.5pp $594	base $416	+0.5pp $235	+1.0pp $50

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	1	1	$2,066
▸ 2× units	2	1	$4,584
Total (3 units)			$6,650

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: $175,000
• Closing costs: $21,000
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-18
   days on market $699,999 Active 34 DOM
2. 2026-06-17
   days on market $699,999 Active 33 DOM
3. 2026-06-16
   days on market $699,999 Active 32 DOM
4. 2026-06-15
   days on market $699,999 Active 31 DOM
5. 2026-06-13
   days on market $699,999 Active 29 DOM
6. 2026-06-09
   days on market $699,999 Active 25 DOM
7. 2026-06-08
   days on market $699,999 Active 24 DOM
8. 2026-06-07
   days on market $699,999 Active 23 DOM
9. 2026-06-03
   days on market $699,999 Active 19 DOM
10. 2026-06-02
    days on market $699,999 Active 18 DOM
11. 2026-06-02
    price $699,999 Active 17 DOM
12. 2026-06-01
    days on market $725,000 Active 17 DOM
13. 2026-05-31
    days on market $725,000 Active 16 DOM
14. 2026-05-15
    listed $725,000 Active 1020-char remark
15. 2026-05-10
    historical $1,600
16. 2026-03-21
    price $1,600
17. 2026-02-21
    price $1,650
18. 2025-12-09
    price $1,675
19. 2025-11-22
    listed $1,750
20. 2015-03-26
    soldstatus $347,000 Sold 400-char remark

    Show marketing remark (400 chars)

    Great property for the savvy first time buyer. Owner Occupied may qualify for with a low down FHA loan or Key Bank 100% financing and live in the upstairs 2 bedroom unit and and rent out the other two! Great North Portland neighborhood, nestled between Kenton and St. Johns! Located near several parks and University of Portland. Good numbers. Close to bus lines. All units separately metered.

21. 2015-01-28
    status Pending 400-char remark

    Show marketing remark (400 chars)

    Great property for the savvy first time buyer. Owner Occupied may qualify for with a low down FHA loan or Key Bank 100% financing and live in the upstairs 2 bedroom unit and and rent out the other two! Great North Portland neighborhood, nestled between Kenton and St. Johns! Located near several parks and University of Portland. Good numbers. Close to bus lines. All units separately metered.

22. 2015-01-19
    status Active 400-char remark

    Show marketing remark (400 chars)

    Great property for the savvy first time buyer. Owner Occupied may qualify for with a low down FHA loan or Key Bank 100% financing and live in the upstairs 2 bedroom unit and and rent out the other two! Great North Portland neighborhood, nestled between Kenton and St. Johns! Located near several parks and University of Portland. Good numbers. Close to bus lines. All units separately metered.

23. 2015-01-10
    historical 400-char remark

    Show marketing remark (400 chars)

    Great property for the savvy first time buyer. Owner Occupied may qualify for with a low down FHA loan or Key Bank 100% financing and live in the upstairs 2 bedroom unit and and rent out the other two! Great North Portland neighborhood, nestled between Kenton and St. Johns! Located near several parks and University of Portland. Good numbers. Close to bus lines. All units separately metered.

24. 2014-10-20
    status Active 400-char remark

    Show marketing remark (400 chars)

    Great property for the savvy first time buyer. Owner Occupied may qualify for with a low down FHA loan or Key Bank 100% financing and live in the upstairs 2 bedroom unit and and rent out the other two! Great North Portland neighborhood, nestled between Kenton and St. Johns! Located near several parks and University of Portland. Good numbers. Close to bus lines. All units separately metered.

25. 2014-10-16
    status Pending 400-char remark

    Show marketing remark (400 chars)

    Great property for the savvy first time buyer. Owner Occupied may qualify for with a low down FHA loan or Key Bank 100% financing and live in the upstairs 2 bedroom unit and and rent out the other two! Great North Portland neighborhood, nestled between Kenton and St. Johns! Located near several parks and University of Portland. Good numbers. Close to bus lines. All units separately metered.

26. 2014-01-02
    price $329,000 400-char remark

    Show marketing remark (400 chars)

    Great property for the savvy first time buyer. Owner Occupied may qualify for with a low down FHA loan or Key Bank 100% financing and live in the upstairs 2 bedroom unit and and rent out the other two! Great North Portland neighborhood, nestled between Kenton and St. Johns! Located near several parks and University of Portland. Good numbers. Close to bus lines. All units separately metered.

27. 2014-01-02
    historical 400-char remark

    Show marketing remark (400 chars)

    Great property for the savvy first time buyer. Owner Occupied may qualify for with a low down FHA loan or Key Bank 100% financing and live in the upstairs 2 bedroom unit and and rent out the other two! Great North Portland neighborhood, nestled between Kenton and St. Johns! Located near several parks and University of Portland. Good numbers. Close to bus lines. All units separately metered.

28. 2014-01-02
    price $339,000 400-char remark

    Show marketing remark (400 chars)

    Great property for the savvy first time buyer. Owner Occupied may qualify for with a low down FHA loan or Key Bank 100% financing and live in the upstairs 2 bedroom unit and and rent out the other two! Great North Portland neighborhood, nestled between Kenton and St. Johns! Located near several parks and University of Portland. Good numbers. Close to bus lines. All units separately metered.

29. 2014-01-02
    status Active 400-char remark

    Show marketing remark (400 chars)

    Great property for the savvy first time buyer. Owner Occupied may qualify for with a low down FHA loan or Key Bank 100% financing and live in the upstairs 2 bedroom unit and and rent out the other two! Great North Portland neighborhood, nestled between Kenton and St. Johns! Located near several parks and University of Portland. Good numbers. Close to bus lines. All units separately metered.

30. 2013-11-07
    listed $349,000 Active 400-char remark

    Show marketing remark (400 chars)

    Great property for the savvy first time buyer. Owner Occupied may qualify for with a low down FHA loan or Key Bank 100% financing and live in the upstairs 2 bedroom unit and and rent out the other two! Great North Portland neighborhood, nestled between Kenton and St. Johns! Located near several parks and University of Portland. Good numbers. Close to bus lines. All units separately metered.

31. 2005-07-19
    soldstatus $325,000

    Show marketing remark (143 chars)

    Charming turn of the century victorian style. Renovated in 2000. Walking distance to U of P campus. Write offer subject to interior inspection.

32. 2005-06-14
    historical

    Show marketing remark (143 chars)

    Charming turn of the century victorian style. Renovated in 2000. Walking distance to U of P campus. Write offer subject to interior inspection.

33. 2005-05-26
    listed $325,000

    Show marketing remark (143 chars)

    Charming turn of the century victorian style. Renovated in 2000. Walking distance to U of P campus. Write offer subject to interior inspection.

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥91°F today · 14 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: $79,800
• − Mortgage interest: −$39,211
• − Property taxes: −$10,500
• − Insurance: −$3,500
• − Repairs & maintenance: −$6,384
• − Management: −$6,384
• − Depreciation: −$20,364
• Taxable loss: −$6,542
• Est. tax savings @ 24.0%: +$1,570
• After-tax cash flow: $6,562/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

Fair 45/100 Moderate rehab

This triplex requires moderate renovations to improve its condition and appeal, with a focus on the kitchen and bathrooms.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of replacement
• Moderate bathroom fixtures — standard fixtures, dated tile
• Moderate exterior siding — moderate wear

Value-add opportunities

• Resale modern kitchen appliances — enhances appeal and functionality
• Resale updated bathrooms — enhances appeal and functionality
• Resale new exterior siding — enhances curb appeal and value
• Rental HVAC system upgrade — improves comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of replacement	Moderate	$3,000–15,000
bathroom fixtures · standard fixtures, dated tile	Moderate	$3,000–15,000
exterior siding · moderate wear	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$9,000–45,000

Value-add ROI direction

• Resale modern kitchen appliances — enhances appeal and functionality ↑
• Resale updated bathrooms — enhances appeal and functionality ↑
• Resale new exterior siding — enhances curb appeal and value ↑
• Rental HVAC system upgrade — improves comfort and energy efficiency ↑

ⓘ 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: 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): 33,116
• Household income: $78,660
• Rent vs Own: 43.0% rent · 57.0% own
• Severe rent burden: 1401.0

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 0.65)
• Race & ethnicity: White 55% Hispanic / Latino 17% Two or more races 16% Black 12% Asian 6% Native American 1% Pacific Islander 1%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Italian 3% Portuguese 3% Slovak 3%
• Foreign-born: 10% · Canada, China
• Languages at home: 81% English-only · Spanish 11% Other Asian/Pacific 3% Other Indo-European 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: ▼ -356.36%
• Current HPI: 348.4979
• Rent YoY: ▲ 2.11%
• 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

+115.4% since first listed

21 events — show timeline

• 2026-06-01 Price Changed $699,999 RMLS
• 2026-05-15 Listed $725,000 RMLS
• 2026-05-10 Rental Removed $1,600 SHOWMOJO
• 2026-03-21 Price Changed $1,600 SHOWMOJO
• 2026-02-21 Price Changed $1,650 SHOWMOJO
• 2025-12-09 Price Changed $1,675 SHOWMOJO
• 2025-11-22 Listed for Rent $1,750 SHOWMOJO
• 2015-03-26 Sold (MLS) $347,000 RMLS
• 2015-01-28 Pending — RMLS
• 2015-01-19 Relisted — RMLS
• 2015-01-10 Delisted — RMLS
• 2014-10-20 Relisted — RMLS
• 2014-10-16 Pending — RMLS
• 2014-01-02 Price Changed $329,000 RMLS
• 2014-01-02 Price Changed $339,000 RMLS
• 2014-01-02 Relisted — RMLS
• 2014-01-02 Delisted — RMLS
• 2013-11-07 Listed $349,000 RMLS
• 2005-07-19 Sold (MLS) $325,000 RMLS
• 2005-06-14 Delisted — RMLS
• 2005-05-26 Listed $325,000 RMLS