1501 N Hayden Island Dr · Portland, OR 97217

$129,950

2 bd · 2.0 ba · 1,100 sqft · Land · 1 Days on market

Built 1967

---

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 +4.7/10.0
• Livability +3.9/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lovely 4 bedroom- 2 bath manufactuered home in park. Open floor plan with tons of natural light. New heat pump, covered parking for 2 cars and a storage shed. Yard with entertaining area. Close to the Columbia River. Great access to freeway, shopping, and restaurants. The park community has several pools, workout facility and walking paths.

Key facts

• Vancouver waterfront
• Large walk-in closet
• Ensuite bathroom

Tags

• PRIVATE WALKING TRAIL
• BREATHTAKING VIEWS OF MT HOOD
• VANCOUVER WATERFRONT
• MATURE TREES
• LARGE WALK-IN CLOSET
• ENSUITE BATHROOM

Property features AI

Finance

• Other: Located in a manufactured home park; Lot rent quoted (monthly)
• HOA & community: Community amenities: gym, party room, pool, recreation facilities, tennis courts, trash service; Not a senior community; Lot rent listed monthly

Exterior

• Parking: Carport; Driveway
• Utilities: Public water; Public sewer; Electric power
• Home design: Manufactured home in park; Residential property; Single-story (main level living); Built in 1967; No significant view
• Construction: Composition roof; T-111 siding exterior; Other foundation
• Exterior features: Deck; Garden; T-111 siding; Concrete and paved road access; Commons area, level lot

Interior

• Kitchen: Built-in range; Dishwasher; Free-standing refrigerator; Electric hot water
• Bedrooms: Primary bedroom (main level); Second bedroom (main level)
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms (both on main level)
• Heating & cooling: Mini-split heating; Mini-split cooling; Electric fuel
• Interior features: Laminate flooring; Double-pane windows; Basement (other type)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath land listed at $130k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $130k).
• Cap rate 18.4% 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: Faubion Elementary School (610 students, 73% FRL); Jefferson High School (606 students, 64% FRL) — zoned schools average 69% FRL vs 37% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 298 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,041 units permitted in Multnomah County in 2024 (905 in 5+ unit buildings).
• This rent runs 33% of the median local income ($100k/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 $898 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 0.9% rent growth), your $36k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $129,950

Questions for the listing agent

1. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 2.15% ✓
• Cap rate: 18.37%
• Cash-on-cash: 43.12%
• DSCR: 2.92
• GRM: 3.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.89% rent growth · sell at horizon

5-year hold

• IRR: 35.0%
• Equity multiple: 2.44×
• Total profit: $52,253
• Equity at exit: $19,376

10-year hold

• IRR: 40.6%
• Equity multiple: 4.43×
• Total profit: $124,773
• Equity at exit: $11,236

Cash invested: $36,386 (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 97217

• Rents YoY: 0.9%
• Active inventory: 298
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $2,792 high
• Mortgage (P&I): −$681
• Tax est. 1.5%: −$162 /mo · $1,949/yr
• Insurance: −$54
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$586
• Net cashflow: $1,241

Break-even live

Break-even rent $1,221

Max offer price $129,950

Occupancy floor 51%

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: $32,488
• Closing costs: $3,898
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1245 N Anchor Way Portland, OR	2.0	1.0–2.0	856	$2,250	$2.63	2d	16	0.86mi
1111 W Columbia Way Vancouver, WA	2.0	1.0–2.5	857	$4,800	$5.60	2d	28	0.89mi
1110 W Columbia Way Vancouver, WA	2.0	1.0–2.0	783	$3,849	$4.91	2d	13	0.92mi
111 Parkway Pl Vancouver, WA	1.0–2.0	1.0–2.0	983	$4,995	$5.08	2d	3	0.93mi
1000 W Columbia Way Vancouver, WA	1.0–2.0	1.0–2.0	767	$3,282	$4.28	2d	11	0.96mi
1055 N Anchor Way Portland, OR	1.0–2.0	1.0–2.0	1056	$3,150	$2.98	2d	34	0.97mi
500 W Columbia Way Vancouver, WA	2.0	1.0–2.0	849	$3,995	$4.71	2d	6	0.99mi
440 W Columbia Way Vancouver, WA	2.0	1.0–2.0	863	$4,400	$5.10	2d	150	0.99mi
636 W 6th St Vancouver, WA	1.0–2.0	1.0	723	$2,349	$3.25	2d	8	1.08mi
183 N Hayden Bay Dr Portland, OR	1.0	1.0	858	$1,800	$2.10	44d	1	1.08mi
995 N Marine Dr Portland, OR	2.0	1.0–2.0	924	$2,036	$2.20	2d	11	1.09mi
123 N Hayden Bay Dr Portland, OR	2.0	1.0	889	$2,249	$2.53	44d	1	1.12mi
411 Columbia St Vancouver, WA	2.0	1.0–2.0	818	$3,377	$4.13	2d	14	1.14mi
555 W 8th St Vancouver, WA	1.0–2.0	1.0	695	$1,630	$2.35	2d	11	1.15mi
608 Washington St Vancouver, WA	2.0	1.0–2.0	903	$3,236	$3.58	2d	11	1.24mi
300 W 8th St Vancouver, WA	1.0–2.0	1.0–2.0	915	$2,932	$3.20	2d	1	1.26mi
701 Columbia St #107 Vancouver, WA	2.0	2.0	871	$1,995	$2.29	24d	1	1.27mi
209 W Evergreen Blvd Vancouver, WA	2.0	1.0	1048	$2,765	$2.64	4d	1	1.34mi
110 N Tomahawk Island Dr Portland, OR	1.0–2.0	1.0–2.0	994	$2,674	$2.69	2d	27	1.35mi
1614 Kauffman Ave Vancouver, WA	3.0	1.0	1200	$2,150	$1.79	24d	1	1.46mi

Listing history 2 events

1. 2026-06-19
   remarks 699-char remark
2. 2026-06-19
   listed $129,950 Active 1 DOM

ⓘ 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 8/10 Severe FEMA zone X (unshaded) · 77% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°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: $33,500
• − Mortgage interest: −$7,279
• − Property taxes: −$1,949
• − Insurance: −$1,447
• − Repairs & maintenance: −$2,680
• − Management: −$2,680
• − Depreciation: −$3,780
• Taxable income: $13,684
• Est. tax owed @ 24.0%: −$3,284
• After-tax cash flow: $11,607/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: 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): 35,169
• Household income: $100,361
• Rent vs Own: 43.5% rent · 56.5% own
• Severe rent burden: 1532.0

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: Predominantly White (71%)
• Race & ethnicity: White 71% Two or more races 12% Hispanic / Latino 9% Black 7% Asian 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 5% Slovak 4% Portuguese 3%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 90% English-only · Spanish 4% Other Indo-European 1% Chinese 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: ▼ -747.13%
• Current HPI: 370.7526
• Rent YoY: ▲ 0.89%
• 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

-98.8% since first listed

6 events — show timeline

• 2026-06-18 Listed $129,950 RMLS
• 2023-03-01 Sold (MLS) $160,000 RMLS
• 2023-02-09 Pending — RMLS
• 2023-02-06 Listed $160,000 RMLS
• 1992-11-06 Sold (Public Records) $12,300,000 Public Records
• 1986-11-01 Sold (Public Records) $10,700,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $86,458 · +3.7% YoY. Source: county tax records.