8220 N Edison St · Portland, OR 97203

$1,650,000

18 bd · 9.0 ba · 7,500 sqft · MultiFamily · 145 Days on market

Built 1965 Good condition 10,018 sqft lot $220/sqft · 17% below area Est $1.988M · 17% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +9.1/30.0
• Schools +4.7/10.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• 1% rule +2.8/10.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 9 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

8220-8236 N Edison Street is an attractive opportunity to acquire a well-located 9-unit multifamily asset in one of North Portland’s most walkable and character rich neighborhoods. Positioned in the heart of St. Johns, the property benefits from strong rental demand driven by the area’s neighborhood amenities and iconic views of the St.Johns Bridge.The property offers a desirable living environment with on-siteparking, bike storage, and shared laundry facilities in one of Portland’s most distinctive neighborhoods. Located just minutes from the St. Johns commercial district, tenants enjoy walkable access to local coffee shops, restaurants, parks, and everyday retail amenities. Cathedral Park, the Willamette River waterfront, and multiple transit options are all nearby, creating a highly livable, pedestrian friendlysetting that continues to attract a diverse renter base.For investors, this offers a stable multifamily investment in asupply constrained submarket with strong fundamentals. St. Johnscontinues to experience steady population growth and increasingdemand for well located rental housing. The property’s manageablescale, attractive neighborhood setting, and classic Portland character create an appealing opportunity for both seasoned investors and those seeking to enter the Portland multifamily market.8220 N Edison offers a combination of location, livability, and long term upside within one of Portland’s most distinctive neighborhoods.

Key facts

• On site parking
• Walkable access
• Local coffee shops

Tags

• 9 UNIT MULTIFAMILY ASSET
• ON SITE PARKING
• BIKE STORAGE
• SHARED LAUNDRY FACILITIES
• WALKABLE ACCESS
• LOCAL COFFEE SHOPS

What this means for you Summary

Snapshot

• This is a 9 × 2-bed/1.0-bath units multifamily listed at $1.65M. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-1k ($-15k/yr) — negative. Per door: $-141/mo.
• To cash-flow at today's rent, offer at most $1.47M (11.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.28M (22.3% below list).
• Recommended offer: $1.28M (22.3% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 2.3% 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: Richmond Elementary School (539 students, 5% FRL); Da Vinci Middle School (434 students, 34% FRL); Roosevelt High School (1,484 students, 65% FRL) — zoned schools at 35% FRL track the district average.
• Market conditions: 278 active listings in the ZIP; solid renter incomes; 2,041 units permitted in Multnomah County in 2024 (905 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $11k of loan paydown is wiped out by about $50k 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 145 days — a 12% lower offer ($1.45M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 108097% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $1,282,500 (22.3% below list)

Questions for the listing agent

1. 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?
2. It's been on market 145 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.78% ✗
• Cap rate: 5.37%
• Cash-on-cash: -3.30%
• DSCR: 0.85
• GRM: 10.7

CMA / ARV

• ARV (median comp): $1,987,701
• List price: $1,650,000
• Delta: -16.99%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8080 N Willamette Blvd	0.10mi	20/16.0 (+2)	9,364 (+25%)	37mo	$3,520,000	$376	30
9424 N Oswego Ave	0.74mi	18/18.0	6,590 (-12%)	17mo	$2,530,000	$384	11

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -21.8%
• Equity multiple: 0.25×
• Total profit: $-348,130
• Equity at exit: $246,020

10-year hold

• IRR: -15.6%
• Equity multiple: 0.12×
• Total profit: $-406,598
• Equity at exit: $142,662

Cash invested: $462,000 (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 97203

• Active inventory: 278
• Price-to-rent: 96.5×

Monthly cashflow live

• Estimated rent: $12,825 high
• Mortgage (P&I): −$8,653
• Tax est. 1.5%: −$2,062 /mo · $24,750/yr
• Insurance: −$688
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,693
• Net cashflow: $-1,271

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

Units	Beds	Baths	Est. rent
▸ 9× units	2	1	$12,825
Total (9 units)			$12,825

Break-even live

Break-even rent $14,434

Max offer price $1,466,080

Occupancy floor —

Sensitivity live

Price	-10% $-131	-5% $-701	+0% $-1,271	+5% $-1,841	+10% $-2,411
Rent	-10% $-2,284	-5% $-1,778	+0% $-1,271	+5% $-764	+10% $-258
Rate	-1.0pp $-440	-0.5pp $-851	base $-1,271	+0.5pp $-1,699	+1.0pp $-2,134

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: $412,500
• Closing costs: $49,500
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8230 N Edison St Portland, OR	2.0	1.0	750	$1,425	$1.90	51d	1	0.01mi
8222 N Edison St Portland, OR	2.0	1.0	750	$1,400	$1.87	47d	1	0.01mi
8208 N Edison St Unit 2 Portland, OR	2.0	1.0	800	$1,480	$1.85	9d	1	0.03mi
6830 N Richmond Ave Portland, OR	1.0	1.0	600	$1,195	$1.99	93d	1	0.05mi
6824 N Richmond Ave Portland, OR	1.0	1.0	600	$1,250	$2.08	28d	1	0.05mi
6905 N John Ave Portland, OR	1.0	1.0	570	$1,395	$2.45	40d	1	0.07mi
6804 N Richmond Ave Unit 6824 Portland, OR	1.0	1.0	600	$1,250	$2.08	28d	1	0.08mi
6804-6838 N Richmond Ave Unit 6830 Portland, OR	1.0	1.0	600	$1,195	$1.99	93d	1	0.08mi
8080 N Willamette Blvd Unit 203 Portland, OR	2.0	1.0	760	$1,550	$2.04	17d	1	0.10mi
8080 N Willamette Blvd Unit 104 Portland, OR	3.0	2.0	927	$2,195	$2.37	28d	1	0.11mi
7128 N Richmond Ave Unit 5 Portland, OR	2.0	1.0	1100	$1,895	$1.72	73d	1	0.14mi
7025 N Mohawk Ave Unit 45-2 Portland, OR	2.0	1.5	800	$1,600	$2.00	27d	1	0.15mi
7045 N Mohawk Ave Portland, OR	1.0–2.0	1.0–1.5	637	$1,600	$2.51	16d	2	0.16mi
7032 N Burlington Ave Portland, OR	2.0	1.0	750	$1,749	$2.33	69d	1	0.16mi
6855 N Burlington Ave Portland, OR	1.0	1.0	525	$1,360	$2.59	93d	1	0.17mi
7037 N Burlington Ave #3 Portland, OR	2.0	1.0	683	$1,975	$2.89	93d	1	0.18mi
8514 N Syracuse St Portland, OR	2.0	1.5	936	$1,595	$1.70	13d	1	0.19mi
8040 N Ivanhoe St Unit 2 Portland, OR	2.0	1.0	900	$1,495	$1.66	93d	1	0.22mi
8040 N Ivanhoe St Unit 10 Portland, OR	2.0	1.0	900	$1,495	$1.66	34d	1	0.22mi
8510 N Ivanhoe St Portland, OR	2.0	1.0	544	$1,699	$3.12	9d	3	0.22mi
6520 N Salem Ave Portland, OR	2.0	1.0	571	$1,505	$2.63	93d	1	0.23mi
6520 N Salem Ave Portland, OR	1.0–3.0	1.0–2.0	795	$1,658	$2.09	15d	7	0.23mi
7003 N Tyler Ave Portland, OR	2.0	1.0	778	$1,695	$2.18	93d	1	0.24mi
8007 N Ivanhoe St Portland, OR	2.0	1.5	850	$1,595	$1.88	93d	1	0.27mi
7102 N Alta Ave Unit BRI-7102 Portland, OR	1.0	1.0	675	$1,385	$2.05	67d	1	0.27mi
7227 N Philadelphia Ave Portland, OR	2.0	1.0–2.0	636	$1,886	$2.97	9d	11	0.27mi
7373 N Philadelphia Ave Portland, OR	1.0	1.0	529	$1,450	$2.74	27d	6	0.28mi
7124 N Alta Ave Unit BRI-7124 Portland, OR	2.0	1.0	941	$1,585	$1.68	67d	1	0.29mi
7112 N Alta Ave Unit BRI-7112 Portland, OR	1.0	1.0	675	$1,385	$2.05	67d	1	0.29mi
7711 N Edison St Unit B Portland, OR	2.0	1.0	1000	$2,100	$2.10	93d	1	0.29mi
7460 N Oswego Ave #1 Portland, OR	2.0	1.5	855	$1,995	$2.33	73d	1	0.32mi
7480 N Oswego Ave Portland, OR	2.0	1.5	868	$2,295	$2.64	21d	1	0.32mi
7550 N Burlington Ave Portland, OR	1.0	1.0	729	$1,495	$2.05	11d	1	0.36mi
8819 N Edison St Unit 8809 Portland, OR	2.0	1.0	780	$1,450	$1.86	13d	1	0.37mi
8819 N Edison St Unit 8807 Portland, OR	2.0	1.0	780	$1,450	$1.86	71d	1	0.37mi
8820 N Ivanhoe St Portland, OR	1.0	1.0	787	$1,200	$1.52	93d	1	0.37mi
8015 N Oswego Ave Unit 2 Portland, OR	2.0	1.0	580	$1,450	$2.50	29d	1	0.39mi
8015 N Oswego Ave Unit 3 Portland, OR	3.0	1.0	725	$1,750	$2.41	35d	1	0.39mi
8015 N Oswego Ave Unit 4 Portland, OR	2.0	1.0	720	$1,650	$2.29	64d	1	0.39mi
8514 N Central St Portland, OR	1.0	1.0	729	$1,495	$2.05	11d	1	0.42mi

Listing history 50 events

1. 2026-08-08
   days on market $1,650,000 Active 145 DOM
2. 2026-08-06
   days on market $1,650,000 Active 143 DOM
3. 2026-08-05
   days on market $1,650,000 Active 142 DOM
4. 2026-08-04
   days on market $1,650,000 Active 141 DOM
5. 2026-08-03
   days on market $1,650,000 Active 140 DOM
6. 2026-07-31
   days on market $1,650,000 Active 137 DOM
7. 2026-07-30
   days on market $1,650,000 Active 136 DOM
8. 2026-07-30
   days on market $1,650,000 Active 135 DOM
9. 2026-07-28
   days on market $1,650,000 Active 134 DOM
10. 2026-07-26
    days on market $1,650,000 Active 132 DOM
11. 2026-07-24
    days on market $1,650,000 Active 130 DOM
12. 2026-07-23
    days on market $1,650,000 Active 129 DOM
13. 2026-07-22
    days on market $1,650,000 Active 128 DOM
14. 2026-07-21
    days on market $1,650,000 Active 127 DOM
15. 2026-07-20
    days on market $1,650,000 Active 126 DOM
16. 2026-07-18
    days on market $1,650,000 Active 124 DOM
17. 2026-07-18
    days on market $1,650,000 Active 123 DOM
18. 2026-07-16
    days on market $1,650,000 Active 122 DOM
19. 2026-07-15
    days on market $1,650,000 Active 121 DOM
20. 2026-07-14
    days on market $1,650,000 Active 120 DOM
21. 2026-07-13
    days on market $1,650,000 Active 119 DOM
22. 2026-07-13
    days on market $1,650,000 Active 118 DOM
23. 2026-07-11
    days on market $1,650,000 Active 117 DOM
24. 2026-07-10
    days on market $1,650,000 Active 116 DOM
25. 2026-07-09
    days on market $1,650,000 Active 115 DOM
26. 2026-07-07
    days on market $1,650,000 Active 113 DOM
27. 2026-07-06
    days on market $1,650,000 Active 112 DOM
28. 2026-07-05
    days on market $1,650,000 Active 111 DOM
29. 2026-07-03
    days on market $1,650,000 Active 109 DOM
30. 2026-07-02
    days on market $1,650,000 Active 108 DOM
31. 2026-07-01
    days on market $1,650,000 Active 107 DOM
32. 2026-06-30
    days on market $1,650,000 Active 106 DOM
33. 2026-06-29
    days on market $1,650,000 Active 105 DOM
34. 2026-06-28
    days on market $1,650,000 Active 104 DOM
35. 2026-06-27
    days on market $1,650,000 Active 103 DOM
36. 2026-06-26
    days on market $1,650,000 Active 102 DOM
37. 2026-06-24
    days on market $1,650,000 Active 100 DOM
38. 2026-06-22
    days on market $1,650,000 Active 98 DOM
39. 2026-06-21
    days on market $1,650,000 Active 97 DOM
40. 2026-06-18
    days on market $1,650,000 Active 94 DOM
41. 2026-06-17
    days on market $1,650,000 Active 93 DOM
42. 2026-06-16
    days on market $1,650,000 Active 92 DOM
43. 2026-06-15
    days on market $1,650,000 Active 91 DOM
44. 2026-06-13
    days on market $1,650,000 Active 89 DOM
45. 2026-06-09
    days on market $1,650,000 Active 85 DOM
46. 2026-06-08
    days on market $1,650,000 Active 84 DOM
47. 2026-06-07
    days on market $1,650,000 Active 83 DOM
48. 2026-06-03
    days on market $1,650,000 Active 79 DOM
49. 2026-06-02
    days on market $1,650,000 Active 78 DOM
50. 2026-06-01
    days on market $1,650,000 Active 77 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 1/10 Low FEMA zone X (unshaded) · 0% 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 9/10 Extreme 12 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $153,900
• − Mortgage interest: −$92,426
• − Property taxes: −$24,750
• − Insurance: −$8,250
• − Repairs & maintenance: −$12,312
• − Management: −$12,312
• − Depreciation: −$48,000
• Taxable loss: −$44,150
• Est. tax savings @ 24.0%: +$10,596
• After-tax cash flow: $-4,656/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 · 11 photos

Good 80/100 Cosmetic rehab Est. rehab $37,500–$112,500 screening

This 9-unit multifamily property in North Portland is in good condition with minimal repairs needed. It offers a desirable living environment with on-site parking, bike storage, and shared laundry facilities.

Value-add opportunities

• Both paint exterior — enhances curb appeal and resale value ↑
• Both update kitchen appliances — modernizes the space and attracts more renters ↑
• Both install smart home features — improves convenience and attracts tech-savvy renters ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

Zoned Schools

Elementary James John Elementary School Middle Da Vinci Middle School High Roosevelt High School

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

B Composite livability gradescore 77/100

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 · 930,825 people
• City population: 774,334
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 33,116
• Household income: $78,660
• Rent vs Own: 43.0% rent · 57.0% own
• Severe rent burden: 14% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 55% Hispanic / Latino 17% Two or more races 16% Black 12% Asian 6% Native American 1% Pacific Islander 1%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Italian 3% Portuguese 3% Slovak 3%
• Foreign-born: 10% · Canada, China
• Languages at home: 81% English-only · Spanish 11% Other Asian/Pacific 3% Other Indo-European 1%

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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: ▼ -356.36%
• Current HPI: 348.4979
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.05%
• F500 in state: 2

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Industry mix (Fortune 500 HQ in OR)

Industry	F500 HQs	Revenue
▸Consumer Goods	1	$51B

Price history

-99.9% since first listed

4 events — show timeline

• 2026-05-15 Price Changed $1,475 RENTALBEAST
• 2026-05-13 Price Changed $1,495 RENTALBEAST
• 2026-04-15 Listed for Rent $1,525 RENTALBEAST
• 2026-03-16 Listed $1,725,000 RMLS