3731 NE 82nd Ave · Portland, OR 97220

$430,000

6 bd · 3.0 ba · — sqft · MultiFamily · 38 Days on market

Built 1978 Fair condition 4,791 sqft lot Est $622k · 31% under ↓ 14% since listing

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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 +17.9/30.0
• ARV discount +15.0/15.0
• DSCR +5.6/10.0
• 1% rule +4.8/10.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• Rent growth +2.6/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

ATTN: Househackers! Here's a great spot to build equity with this duplex at the corner of upper Sandy and 82nd. Long term tenants under market value rent, on month-to-month tenancy. Rental comps come in at $1900 per month, per side. Cap rate with market value rents comes in at 6.27%. Tenants pay all utilities. Quick access to 205, commuting, great eats, and forest bathing in the Grotto. Mirroring layouts for units. This area sits near the cultural energy of the Jade District—one of Portland’s most diverse and entrepreneurial districts. Live in one side and stabilize your costs, rent both units later, hold as a long-term investment, or leverage appreciation as the corridor evolve

Key facts

• Mirroring layouts
• Duplex
• Quick access to 205

Tags

• DUPLEX
• MONTH TO MONTH TENANCY
• QUICK ACCESS TO 205
• MIRRORING LAYOUTS

Property features AI

Finance

• Other: Zoning: R2
• Financial info: Rent includes trash collection; Cap rate 4.35; Gross rent multiplier 22.97; Unit rents reported: one unit at $1,250; two units at $1,180 each
• HOA & community: Community commons

Exterior

• Parking: Off-street paved parking; Three parking spaces
• Security: Sidewalk (listed under security features)
• Utilities: Public water; Public sewer; Electric service; Internet: Cable and DSL
• Home design: Multi-family property; Not attached to other properties; Existing condition; Built in 1978
• Construction: Concrete perimeter foundation
• Exterior features: T-111 siding; Composition roof; Level lot; On busline; Territorial view; Sidewalk on property (security feature)

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Two 2-bedroom units; One 2-bedroom unit (total three units: one unit type with 1 unit, other unit type with 2 units)
• Bathrooms: Each unit has one bathroom
• Heating & cooling: Baseboard heating; No central cooling; Electric fuel
• Interior features: Crawl space basement; No built-in storage noted; Unfurnished units
• Laundry & utility: Washer/Dryer hookup in units; Electric hot water

🏷️ Possibly a rental listed for sale. The $430,000 price doesn't fit this home's estimated sale value (~$621,943) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $430k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $362 ($4k/yr) — positive. Per door: $181/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 $422k (1.9% below list).
• Recommended offer: $417k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.3% 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: Roseway Heights School (576 students, 66% FRL); Leodis V. Mcdaniel High School (1,440 students, 65% FRL) — zoned schools average 65% FRL vs 37% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 130 active listings in the ZIP; 2,041 units permitted in Multnomah County in 2024 (905 in 5+ unit buildings).
• At $4,220/mo this rent would consume 72% of the median local household income ($70k/yr) (locally 1370% 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 $3k of loan paydown is wiped out by about $13k 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 38 days — a 3% lower offer ($417k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $69k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $417,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% 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 1978 — 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: 0.98% ✗
• Cap rate: 7.30%
• Cash-on-cash: 3.61%
• DSCR: 1.16
• GRM: 8.5

CMA / ARV

• ARV (median comp): $621,943
• List price: $430,000
• Delta: -30.86%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8024 NE Fremont St	0.15mi	6/3.0	1,660	10mo	$380,000	$229	72
8541 NE Russell St	0.67mi	6/5.0	3,871	13mo	$624,990	$161	38

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 · 0.35% rent growth · sell at horizon

5-year hold

• IRR: -13.6%
• Equity multiple: 0.52×
• Total profit: $-57,510
• Equity at exit: $64,114

10-year hold

• IRR: -9.6%
• Equity multiple: 0.48×
• Total profit: $-62,776
• Equity at exit: $37,179

Cash invested: $120,400 (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 97220

• Rents YoY: 0.3%
• Active inventory: 130
• Price-to-rent: 17.0×

Monthly cashflow live

• Estimated rent: $4,220 high
• Mortgage (P&I): −$2,255
• Tax est. 1.5%: −$538 /mo · $6,450/yr
• Insurance: −$179
• HOA: −$0
• Vacancy / Maint / Mgmt: −$886
• Net cashflow: $362

Break-even live

Break-even rent $3,762

Max offer price $430,000

Occupancy floor 86%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$4,220
Total (2 units)			$4,220

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: $107,500
• Closing costs: $12,900
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-18
   days on market $430,000 Active 38 DOM
2. 2026-06-17
   days on market $430,000 Active 37 DOM
3. 2026-06-16
   days on market $430,000 Active 36 DOM
4. 2026-06-15
   days on market $430,000 Active 35 DOM
5. 2026-06-13
   days on market $430,000 Active 33 DOM
6. 2026-06-09
   days on market $430,000 Active 29 DOM
7. 2026-06-08
   days on market $430,000 Active 28 DOM
8. 2026-06-07
   statusdays on market $430,000 Active 27 DOM
9. 2026-06-02
   status $430,000 Pending 24 DOM
10. 2026-06-01
    days on market $430,000 Active 24 DOM
11. 2026-05-31
    days on market $430,000 Active 23 DOM
12. 2026-05-08
    listed $499,000 Active 701-char remark

ⓘ 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 · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 20 unhealthy d/yr today · 21 by 30 yrs out

Taxation est. · year 1

• Rental income: $50,640
• − Mortgage interest: −$24,087
• − Property taxes: −$6,450
• − Insurance: −$2,150
• − Repairs & maintenance: −$4,051
• − Management: −$4,051
• − Depreciation: −$12,509
• Taxable loss: −$2,658
• Est. tax savings @ 24.0%: +$638
• After-tax cash flow: $4,984/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 multi-family property requires moderate renovations to update the kitchen and bathrooms, repair the exterior, and paint the interior. These updates would significantly increase its value for both resale and rental purposes.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of replacement
• Moderate bathroom fixtures — basic and outdated
• Minor exterior siding — slight wear
• Minor fence — slight damage

Value-add opportunities

• Both update kitchen cabinets and appliances — modernizing the kitchen would improve both resale and rental value
• Both replace outdated bathroom fixtures — modernizing the bathrooms would improve both resale and rental value
• Both repair and paint exterior siding — improving the exterior would enhance curb appeal and increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of replacement	Moderate	$3,000–15,000
bathroom fixtures · basic and outdated	Moderate	$3,000–15,000
exterior siding · slight wear	Minor	$500–3,000
fence · slight damage	Minor	$500–3,000
Total estimated repair cost · 4 items		$7,000–36,000

Value-add ROI direction

• Both update kitchen cabinets and appliances — modernizing the kitchen would improve both resale and rental value ↑
• Both replace outdated bathroom fixtures — modernizing the bathrooms would improve both resale and rental value ↑
• Both repair and paint exterior siding — improving the exterior would enhance curb appeal and increase both resale and rental value ↑

ⓘ 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): 27,202
• Household income: $70,137
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 1370.0

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 0.61)
• Race & ethnicity: White 59% Hispanic / Latino 14% Two or more races 13% Asian 12% Black 7% Native American 2%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Italian 5% Portuguese 3% Slovak 2%
• Foreign-born: 16% · Vietnam, Canada
• Languages at home: 77% English-only · Spanish 9% Vietnamese 7% Other Asian/Pacific 2%

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: ▼ -466.79%
• Current HPI: 306.3761
• Rent YoY: ▲ 0.35%
• 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

-13.8% since first listed

4 events — show timeline

• 2026-06-04 Relisted — RMLS
• 2026-06-01 Pending — RMLS
• 2026-05-22 Price Changed $430,000 RMLS
• 2026-05-08 Listed $499,000 RMLS