23077 SW Main St #17 · Sherwood, OR 97140

$189,900

3 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 26 Days on market

Built 2025

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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 +5.6/10.0
• Livability +4.6/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Brand new, move-in ready home offering an exceptional homeownership opportunity. Thoughtfully designed open-concept floor plan. Ample windows & tall 8’ ceilings. Elegant kitchen with Samsung® stainless steel appliances & abundant cabinet storage. Primary bedroom with large closet and spacious en-suite bath with double sinks & fiberglass shower with glass doors. Hardwood cabinets, LED can lighting, Pfister® faucets, & Ecobee® smart thermostat & furnace, which is pre-wired & ready for a heat pump.

Key facts

• Built 2025
• Listed 26 days

Property features AI

Finance

• Other: Property is owner-occupied type listing; new construction in a manufactured-home community
• HOA & community: Community amenities include a basketball court and on-site management; Located in Carriage Park Estates (space 017); lot rent $900 monthly

Exterior

• Parking: Driveway
• Security: No security features
• Utilities: Public water; Public sewer; Electric hot water; Electric fuel
• Home design: Manufactured home in park (Clayton model "My Girl"); New construction; Single-story; main level living; No significant view
• Construction: Composition roof; Wood composite and wood siding exterior; Pillar/post/pier foundation with skirting; Built in 2025
• Exterior features: Deck; Yard; Level lot; Paved road access

Interior

• Kitchen: Dishwasher; Free-standing range; Free-standing refrigerator; Range hood; Kitchen island; Solid surface countertops; ENERGY STAR qualified stainless steel appliances
• Bedrooms: Primary bedroom on main with ensuite and walk-in closet; Second bedroom on main with closet; Third bedroom on main with closet
• Flooring: Vinyl flooring in kitchen, dining, and family room areas; Wall-to-wall carpet in living room and bedrooms
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Forced air heating; Air-conditioning ready (no central cooling)
• Interior features: Main-floor bedroom with bath and utility room on main; One-level living with minimal steps; Walk-in shower; Laundry; Natural lighting; Double pane windows with vinyl frames
• Laundry & utility: Laundry on main; Utility room on main

🏗️ New construction. The $189,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $147,840.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $190k.

Deal economics

• At list price, monthly cash flow is $885 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $187k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.5% vs local median 2.4% in Sherwood — 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 92/100 on livability (#1 in OR, #28 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, employment A+, housing A+; Watch: cost of living F.
• Sherwood SD 88J (suburban): math 56% / reading 66% proficiency, ranked #5 of 58 in OR (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Archer Glen Elementary School (math 54% / reading 64%, grade B-, #62 of 412 statewide, top 18%, 331 students, 14% FRL); Sherwood Middle School (math 54% / reading 67%, grade B+, #15 of 128 statewide, top 11%, 1,135 students, 12% FRL); Sherwood High School (math 75% / reading 75%, grade A-, #2 of 143 statewide, top 6%, 1,704 students, 11% FRL) — zoned schools at 12% FRL track the district average.
• Market conditions: Rents rising (+1.1%/yr); 233 active listings in the ZIP; 18 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; 2,224 units permitted in Washington County in 2024 (242 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 $4k of value loss. Plan a longer hold.
• Washington County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.1% rent growth), your $41k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $187,051 (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. 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: 1.56% ✓
• Cap rate: 13.47%
• Cash-on-cash: 25.65%
• DSCR: 2.14
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $147,840
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23077 SW Main St #21	0.04mi	3/2.0	1,512 (+12%)	5mo	$168,000	$111	74
23077 SW Main St	0.04mi	3/2.0	1,456 (+8%)	13mo	$160,000	$110	74
23077 SW Main St #56	0.07mi	3/2.0	1,456 (+8%)	12mo	$160,000	$110	72
23077 SW Main St #7	0.08mi	3/2.0	1,188 (-12%)	20mo	$63,000	$53	61

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 · 1.14% rent growth · sell at horizon

5-year hold

• IRR: 17.2%
• Equity multiple: 1.68×
• Total profit: $28,137
• Equity at exit: $22,043

10-year hold

• IRR: 24.4%
• Equity multiple: 2.94×
• Total profit: $80,235
• Equity at exit: $12,783

Cash invested: $41,395 (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 97140

• Rents YoY: 1.1%
• Active inventory: 233
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,307 high
• Mortgage (P&I): −$775
• Tax from tax record: −$101 /mo · $1,212/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$484
• Net cashflow: $885

Break-even live

Break-even rent $1,187

Max offer price $147,840

Occupancy floor 57%

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: $36,960
• Closing costs: $4,435
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23317 SW Main St #3 Sherwood, OR	2.0	1.0	1150	$1,550	$1.35	43d	1	0.16mi
15796 SW Willamette St Sherwood, OR	2.0	1.0	930	$1,925	$2.07	23d	1	0.26mi
15770 SW Oregon St Sherwood, OR	2.0	2.5	1435	$2,348	$1.64	23d	1	0.40mi
22550 SW HIghland Dr Sherwood, OR	2.0–3.0	2.0	1127	$2,499	$2.22	1d	2	0.40mi
21985 SW Sherwood Blvd Unit 245-19 Sherwood, OR	3.0	1.0	968	$1,795	$1.85	2d	1	0.43mi
15700 SW Oregon St Sherwood, OR	3.0	2.5	1554	$2,498	$1.61	43d	1	0.45mi
15790 SW Oregon St Sherwood, OR	2.0	2.5	1435	$2,348	$1.64	1d	2	0.45mi
21798 SW Sherwood Blvd Sherwood, OR	2.0–3.0	1.0–2.0	899	$1,975	$2.20	1d	5	0.63mi
21747 SW Vintner Ln Sherwood, OR	3.0	2.5	1701	$2,900	$1.70	4d	1	0.77mi
16810 SW Gleneagle Dr Sherwood, OR	2.0	1.5	903	$1,500	$1.66	23d	1	0.78mi
16850 SW Gleneagle Dr #13 Sherwood, OR	2.0	1.5	903	$1,580	$1.75	10d	1	0.82mi
22210 SW Murdock Rd Sherwood, OR	2.0	2.0	900	$1,545	$1.72	3d	1	0.86mi
21759 SW Cedar Brook Way Sherwood, OR	1.0–3.0	1.0–2.5	1160	$2,420	$2.09	1d	11	0.88mi
21714 SW Berkshire Ter Sherwood, OR	3.0	2.5	1498	$2,500	$1.67	43d	1	0.92mi
16100 SW Century Dr Sherwood, OR	2.0	2.0	1064	$2,000	$1.88	1d	6	0.93mi
22862 SW Forest Creek Dr #202 Sherwood, OR	2.0	2.5	1254	$2,095	$1.67	10d	1	0.96mi
22802 SW Forest Creek Dr Sherwood, OR	2.0	2.5	1126	$1,995	$1.77	43d	1	1.02mi
17167 SW Terrapin Dr Sherwood, OR	2.0	2.5	1631	$2,295	$1.41	1d	1	1.08mi

Listing history 12 events

1. 2026-06-15
   statusdays on market $189,900 Pending 26 DOM
2. 2026-06-13
   days on market $189,900 Active 25 DOM
3. 2026-06-13
   days on market $189,900 Active 24 DOM
4. 2026-06-09
   days on market $189,900 Active 21 DOM
5. 2026-06-08
   days on market $189,900 Active 20 DOM
6. 2026-06-07
   days on market $189,900 Active 19 DOM
7. 2026-06-03
   days on market $189,900 Active 15 DOM
8. 2026-06-02
   days on market $189,900 Active 14 DOM
9. 2026-06-01
   days on market $189,900 Active 13 DOM
10. 2026-05-31
    days on market $189,900 Active 12 DOM
11. 2026-05-19
    listed $189,900 Active 542-char remark

    Show marketing remark (542 chars)

    Brand new, move-in ready home offering an exceptional homeownership opportunity. Thoughtfully designed open-concept floor plan. Ample windows & tall 8’ ceilings. Elegant kitchen with Samsung® stainless steel appliances & abundant cabinet storage. Primary bedroom with large closet and spacious en-suite bath with double sinks & fiberglass shower with glass doors. Hardwood cabinets, LED can lighting, Pfister® faucets, & Ecobee® smart thermostat & furnace, which is pre-wired & ready for a heat pump.

12. 2026-05-19
    listed $189,900 Active

    Show marketing remark (542 chars)

    Brand new, move-in ready home offering an exceptional homeownership opportunity. Thoughtfully designed open-concept floor plan. Ample windows & tall 8’ ceilings. Elegant kitchen with Samsung® stainless steel appliances & abundant cabinet storage. Primary bedroom with large closet and spacious en-suite bath with double sinks & fiberglass shower with glass doors. Hardwood cabinets, LED can lighting, Pfister® faucets, & Ecobee® smart thermostat & furnace, which is pre-wired & ready for a heat pump.

ⓘ 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: $1,212 · $101/mo
• Projected year-2 tax: $1,842 · $154/mo
• Expected delta: +$630/yr (+$53/mo · 52.0%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥91°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 12 unhealthy d/yr today · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,685
• − Mortgage interest: −$8,281
• − Property taxes: −$1,212
• − Insurance: −$739
• − Repairs & maintenance: −$2,215
• − Management: −$2,215
• − Depreciation: −$4,301
• Taxable income: $8,722
• Est. tax owed @ 24.0%: −$2,093
• After-tax cash flow: $8,523/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: Sherwood SD 88J
• NCES district ID: 4111290
• Math proficiency: 56% ▼ -14.00%
• Reading proficiency: 66% ▼ -11.00%
• Median HH income: $88,369
• Composite: 55.54/100
• National rank: #1242
• State rank: #5 of 58 in OR

Livability — Sherwood

• Score: 92/100
• State rank: #1
• US rank: #28

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sherwood, OR
• County: Washington County · 583,254 people
• City population: 27,933
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 27,933
• Household income: $123,228
• Rent vs Own: 24.6% rent · 75.4% own
• Severe rent burden: 355.0

Population outlook (Washington County) Hauer SSP2

• Today (2025): 674,042 people
• By 2030: 721,804 · +7.1%
• By 2040: 812,732 · +20.6%
• By 2050: 895,143 · +32.8%
• By 2075: 1,058,806 · +57.1%
• By 2100: 1,131,692 · +67.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Two or more races 11% Hispanic / Latino 8% Asian 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 6% Slovak 3% Portuguese 3%
• Foreign-born: 8% · Canada, China, South Korea
• Languages at home: 90% English-only · Spanish 4% Other Indo-European 2% Arabic 1%

Political lean MEDSL · Washington

• 2024 margin: Solid D (+34.0) · D 65.3% · R 31.3% · Other 3.4%
• 2008→2024 swing: +11.8pp toward D · 2008: 22.1pp · 2024: 34.0pp
• All cycles: 2024: D+34.0 2020: D+34.6 2016: D+26.7 2012: D+17.5 2008: D+22.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -234.42%
• Current HPI: 290.3171
• Rent YoY: ▲ 1.14%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-19 Listed $189,900 RMLS
• 2026-05-19 Listed $189,900 WVMLS

Property tax history

+6.3%/yr

Latest (2024): $1,212 · +2.4% YoY. Source: county tax records.