10701 SE Hwy 212 Unit WL 1 · Happy Valley, OR 97015

$179,000

3 bd · 2.0 ba · 1,512 sqft · Manufactured · 5 Days on market

Built 2021 Good condition Est $159k · 13% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• Schools +3.2/10.0
• Rent growth +3.1/5.0
• ARV discount +1.8/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this charming and meticulously maintained 3 bedroom, 2 bathroom residence, proudly offered by its original owner. Inside, experience a touch of elegance with stunning coffered ceilings that elevate the main living areas. Outside, enjoy a vibrant lifestyle where green living meets community fun: cultivate your passion in the raised garden beds, then step out to enjoy the fantastic neighborhood amenities, including a sparkling pool and a community room for gathering with friends. This home is the perfect blend of style, comfort, and convenience!

Key facts

• Coffered ceilings
• Raised garden beds
• Community room

Tags

• COFFERED CEILINGS
• RAISED GARDEN BEDS
• COMMUNITY ROOM

Property features AI

Finance

• Other: Property is resale; Main living area approximately 1,512 (listed as main level area total)
• Financial info: Monthly lot rent $979; Land lease expires December 31, 2026
• HOA & community: Park amenities include pool, meeting room, recreation facilities, grounds maintenance, and management; Park name: OAK ACRES (not a senior community); Land lease in effect (monthly lot rent)

Exterior

• Parking: Covered carport (2 spaces)
• Security: No specific security features listed
• Utilities: Electricity (fuel); Public water; Public sewer
• Home design: Manufactured home in a park (Waverly Crest model by Fleetwood Homes); Single-story (main living on one level); Built in 2021; No significant view; Located on a cul-de-sac; level lot; paved road
• Construction: Composition roof; Skirting foundation
• Exterior features: Covered patio; Porch; Raised garden beds; Tool shed; Panel exterior

Interior

• Kitchen: Dishwasher; Disposal; Free‑standing range; Free‑standing refrigerator; Microwave; Kitchen island; Pantry
• Bedrooms: Primary bedroom on main level with ensuite and walk-in closet; Second bedroom on main level with closet; Third bedroom on main level with closet
• Flooring: Wall-to-wall carpet; Vinyl flooring
• Bathrooms: Two full bathrooms (both on main level)
• Heating & cooling: Wall furnace heating; Central air conditioning
• Interior features: Laundry area on main level; Crawl space basement; Double-pane windows with vinyl frames; Washer/Dryer included; Island in kitchen; Pantry
• Laundry & utility: Washer and dryer; Electric tank water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $179k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $672 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $179k).
• Cap rate 10.8% vs local median 2.5% in Happy Valley — 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 76/100 on livability (#76 in OR, #3,386 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, cost of living F.
• North Clackamas SD 12 (suburban): math 29% / reading 43% proficiency, ranked #22 of 58 in OR (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Sunnyside Elementary School (math 24% / reading 34%, grade F, #263 of 412 statewide, top 68%, 427 students, 34% FRL); Rock Creek Middle School (math 19% / reading 44%, grade F, #82 of 128 statewide, top 64%, 902 students, 33% FRL); Clackamas High School (math 52% / reading 67%, grade C+, #23 of 143 statewide, top 19%, 1,224 students, 27% FRL) — zoned schools at 31% FRL track the district average.
• Market conditions: Rents rising (+2.5%/yr); 120 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 946 units permitted in Clackamas County in 2024 (188 in 5+ unit buildings).
• This rent runs 33% of the median local income ($87k/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 $1k of loan paydown is wiped out by about $5k 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 + 2.5% rent growth), your $50k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $179,000

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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
3. 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.
4. 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.
5. 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: 1.35% ✓
• Cap rate: 10.80%
• Cash-on-cash: 16.09%
• DSCR: 1.72
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $158,760
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10701 SE Hwy 212 Unit WL 1	0.00mi	3/2.0	1,512 (0%)	0mo	$180,000	$119	100
10701 SE Highway 212 Unit Y5	0.19mi	3/2.0	1,512 (0%)	18mo	$176,500	$117	76
10701 SE Highway 212 Unit Y6	0.19mi	4/2.0 (+1)	1,620 (+7%)	4mo	$169,900	$105	70
10701 SE Highway 212 Unit OL6	0.12mi	4/2.0 (+1)	1,440 (-5%)	15mo	$120,000	$83	69
10701 SE Highway 212 Unit Y2	0.03mi	3/2.0	1,350 (-11%)	18mo	$139,850	$104	65
10701 SE 212 Hwy Unit H6	0.20mi	3/2.0	1,296 (-14%)	10mo	$125,500	$97	59
10701 SE Highway 212 Unit N6	0.08mi	3/2.0	1,344 (-11%)	23mo	$175,000	$130	58

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 · 2.48% rent growth · sell at horizon

5-year hold

• IRR: 6.5%
• Equity multiple: 1.25×
• Total profit: $12,581
• Equity at exit: $26,689

10-year hold

• IRR: 15.4%
• Equity multiple: 2.22×
• Total profit: $61,118
• Equity at exit: $15,477

Cash invested: $50,120 (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 97015

• Rents YoY: 2.5%
• Active inventory: 120
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $2,417 high
• Mortgage (P&I): −$939
• Tax est. 1.5%: −$224 /mo · $2,685/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$507
• Net cashflow: $672

Break-even live

Break-even rent $1,566

Max offer price $179,000

Occupancy floor 67%

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12301 SE Hubbard Rd Clackamas, OR	2.0–3.0	1.0–2.0	936	$2,063	$2.20	10d	4	0.83mi
13777 SE 115th Ave Clackamas, OR	3.0	3.0	2088	$3,495	$1.67	24d	1	0.89mi
16500 SE 82nd Dr Clackamas, OR	2.0–3.0	1.0–2.0	1006	$2,273	$2.26	7d	4	0.92mi
9750 SE Talbert St Clackamas, OR	3.0	2.0	1128	$2,099	$1.86	12d	1	1.18mi
9840 SE Talbert St Clackamas, OR	1.0–3.0	1.0–2.0	907	$2,199	$2.42	2d	26	1.20mi
13300 SE Hubbard Rd Clackamas, OR	3.0	1.0–2.0	818	$2,290	$2.80	2d	6	1.23mi
11480 SE Sunnyside Rd Clackamas, OR	1.0–3.0	1.0–2.0	936	$2,258	$2.41	2d	16	1.47mi

Listing history 1 events

1. 2026-05-21
   listed $179,000 Active

ⓘ 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 ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 18 unhealthy d/yr today · 20 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,000
• − Mortgage interest: −$10,027
• − Property taxes: −$2,685
• − Insurance: −$895
• − Repairs & maintenance: −$2,320
• − Management: −$2,320
• − Depreciation: −$5,207
• Taxable income: $5,546
• Est. tax owed @ 24.0%: −$1,331
• After-tax cash flow: $6,735/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 · 7 photos

Good 80/100 Cosmetic rehab

This home is in good condition with a well-maintained exterior and interior. It is a great investment opportunity with potential for a fresh coat of paint to enhance its curb appeal and value.

Value-add opportunities

• Both Paint exterior siding — Fresh paint can enhance the home's curb appeal and increase its value.
• Both Inspect and clean gutters — Clean gutters improve the home's appearance and prevent water damage to the siding and foundation.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Fresh paint can enhance the home's curb appeal and increase its value. ↑
• Both Inspect and clean gutters — Clean gutters improve the home's appearance and prevent water damage to the siding and foundation. ↑

ⓘ 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: North Clackamas SD 12
• NCES district ID: 4108830
• Math proficiency: 29% ▼ -14.00%
• Reading proficiency: 43% ▼ -13.00%
• Median HH income: $60,217
• Composite: 32.1/100
• National rank: #5807
• State rank: #22 of 58 in OR

Livability — Happy Valley

• Score: 76/100
• State rank: #76
• US rank: #3386

Category grades

Amenities F Commute A- Cost of living F Crime A Employment A+ Housing A+ Health & safety A- User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Clackamas County · 361,406 people
• City population: 34,567
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 24,433
• Household income: $87,333
• Rent vs Own: 36.0% rent · 64.0% own
• Severe rent burden: 1166.0

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 (66%)
• Race & ethnicity: White 66% Hispanic / Latino 15% Two or more races 12% Asian 11% Black 2%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Italian 4% Scotch-Irish 4% Lithuanian 3%
• Foreign-born: 15% · Canada, China, Vietnam
• Languages at home: 74% English-only · Spanish 11% Chinese 5% Russian/Polish/Slavic 3%

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: ▼ -170.50%
• Current HPI: 295.7295
• Rent YoY: ▲ 2.48%
• 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

1 event — show timeline

• 2026-05-21 Listed $179,000 RMLS