14862 NE Rose Pkwy

Portland, OR 97230

$274,900F

2 bd · 2.0 ba · 1,896 sqft · Built 1978 · Townhouse · Active · 341 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,349/mo
• Mortgage (P&I): −$1,442
• Tax + insurance: −$458
• HOA: −$802
• Vac / Maint / Mgmt: −$493
• Net cashflow: $-846/mo
• Annual: $-10,149/yr
• Cap rate: 2.60%
• Cash-on-cash: -13.19%
• DSCR: 0.41
• 1% rule: 0.85%
• Cash to close: $76,972

Investor read

• This is a 2-bed/2.0-bath townhouse listed at $275k. Condition is rated good.
• At list price, monthly cash flow is $-846 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $153k (44.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $235k (14.5% below list).
• It's been on market 341 days — a 12% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $153k (44.5% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• 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.
• Reynolds SD 7 (suburban): math 21% / reading 36% proficiency, ranked #162 of 183 in OR (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Margaret Scott Elementary School (322 students, 101% FRL); Hauton B Lee Middle School (651 students, 101% FRL); Reynolds High School (2,474 students, 67% FRL) — zoned schools average 89% FRL vs 66% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: HOA is 34% of rent.
• Market conditions: Rents flat; 288 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals lingering (median 31d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).
• Multnomah County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 9y ago; this cycle's ask has dropped $35k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $235k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• This rent runs 37% of the median local income ($76k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• It's been on market 341 days. Have you received any prior offers? Is the seller open to a 45% concession, seller financing, or rate buy-down credit?
• Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?