535 SW Maple St #2 · Hillsboro, OR 97123

$98,000

3 bd · 2.0 ba · 840 sqft · Manufactured public records · 246 Days on market

Built 1994 ↓ 18% since listing

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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
• Livability +4.4/5.0
• Schools +3.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

FAMILY PARK- LOWEST PARK RENT AROUND- $840 ALL AGES Park. 2 PETS ALLOWED. This home will INCLUDES FIRST YEAR HOME WARRANTY! BEAUTIFUL HOME AT A GREAT PRICE!!! CALL TO SCHEDUAL A SHOWING. 1994 home has been well taken care of. Owner had to relocate due to work. Home includes stainless steel appliance. Double pane vinyl windows, laminate plank flooring throughout. Washer & dryer. Extra deep kitchen sink with beautiful dark wood cabinets lots of counter space with a breakfast bar and stools that stay with the home. Primary bedroom has a sliding glass door with deck. This is a MUST SEE and will not last long!

Key facts

• Dark wood cabinets
• Built 1994
• Listed 246 days

Tags

• STAINLESS STEEL APPLIANCE
• DOUBLE PANE VINYL WINDOWS
• LAMINATE PLANK FLOORING
• EXTRA DEEP KITCHEN SINK
• DARK WOOD CABINETS
• LOTS OF COUNTER SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $98k.

Deal economics

• At list price, monthly cash flow is $924 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $98k).
• Recommended offer: $86k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.6% vs local median 3.0% in Hillsboro — 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 87/100 on livability (#13 in OR, #282 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: crime D+, cost of living F.
• Hillsboro SD 1J (urban): math 35% / reading 46% proficiency, ranked #13 of 58 in OR (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-1.4%/yr); 426 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $678 of loan paydown is wiped out by about $3k 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 + 0.0% rent growth), your $27k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 246 days — a 12% lower offer ($86k) is reasonable based on typical stale-listing flexibility.

Recommended offer $86,240 (12.0% below list)

Questions for the listing agent

1. It's been on market 246 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is D 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: 1.96% ✓
• Cap rate: 17.61%
• Cash-on-cash: 40.40%
• DSCR: 2.80
• GRM: 4.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 33.6%
• Equity multiple: 2.36×
• Total profit: $37,319
• Equity at exit: $14,612

10-year hold

• IRR: 38.9%
• Equity multiple: 4.15×
• Total profit: $86,451
• Equity at exit: $8,473

Cash invested: $27,440 (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 97123

• Rents YoY: -1.4%
• Active inventory: 426
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,917 high
• Mortgage (P&I): −$514
• Tax from tax record: −$36 /mo · $434/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $924

Break-even live

Break-even rent $748

Max offer price $98,000

Occupancy floor 47%

Sensitivity live

Price	-10% $979	-5% $952	+0% $924	+5% $896	+10% $868
Rent	-10% $772	-5% $848	+0% $924	+5% $1,000	+10% $1,075
Rate	-1.0pp $973	-0.5pp $949	base $924	+0.5pp $898	+1.0pp $873

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: $24,500
• Closing costs: $2,940
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
625 SW Dennis Ave Hillsboro, OR	2.0	1.0	665	$1,795	$2.70	3d	1	0.05mi
1025 W Main St Hillsboro, OR	2.0	1.5–2.0	805	$1,772	$2.20	4d	3	0.56mi
242 SE Washington St Unit 3 Hillsboro, OR	2.0	1.0	998	$1,750	$1.75	45d	1	0.60mi
337 SE 4th Ave Apt 201 Hillsboro, OR	2.0	2.0	750	$1,550	$2.07	25d	1	0.64mi
337 SE 4th Ave Unit 301 Hillsboro, OR	2.0	2.0	736	$1,595	$2.17	25d	1	0.64mi
337 NW Bailey Ave Unit 337 Hillsboro, OR	2.0	1.0	900	$1,595	$1.77	45d	1	0.70mi
690 SE 5th Ave Apt 101 Hillsboro, OR	2.0	2.0	950	$1,550	$1.63	45d	1	0.71mi
690 SE 5th Ave Unit 102 Hillsboro, OR	2.0	2.0	950	$1,550	$1.63	23d	1	0.71mi
637 SE 7th Ave Hillsboro, OR	2.0	1.0	824	$1,700	$2.06	45d	1	0.86mi
666 E Main St Hillsboro, OR	2.0	1.0	875	$1,770	$2.02	3d	3	0.94mi
760 SE 10th Ave Unit 10 Hillsboro, OR	2.0	1.0	717	$1,525	$2.13	25d	1	1.15mi
800 SE 10th Ave Hillsboro, OR	1.0–3.0	1.0	750	$1,795	$2.39	4d	4	1.16mi
1049 SE Walnut St Apt 12 Hillsboro, OR	2.0	1.0	800	$1,495	$1.87	0d	1	1.21mi
1049 SE Walnut St Unit 7 Hillsboro, OR	2.0	1.0	800	$1,495	$1.87	45d	1	1.21mi
1120 SE Baseline St Apt 4 Hillsboro, OR	2.0	1.5	907	$1,950	$2.15	18d	1	1.26mi
1134 E Main St Unit 01 Hillsboro, OR	2.0	1.0	800	$1,525	$1.91	25d	1	1.32mi
1374 SE Cedar St Unit 1 Hillsboro, OR	2.0	1.0	672	$1,395	$2.08	4d	1	1.38mi
1535 SE Maple St Hillsboro, OR	2.0	1.0	766	$1,485	$1.94	9d	1	1.44mi

Listing history 18 events

1. 2026-06-21
   days on market $98,000 Active 246 DOM
2. 2026-06-18
   days on market $98,000 Active 243 DOM
3. 2026-06-17
   days on market $98,000 Active 242 DOM
4. 2026-06-16
   days on market $98,000 Active 241 DOM
5. 2026-06-15
   days on market $98,000 Active 240 DOM
6. 2026-06-13
   days on market $98,000 Active 238 DOM
7. 2026-06-09
   days on market $98,000 Active 234 DOM
8. 2026-06-08
   days on market $98,000 Active 233 DOM
9. 2026-06-07
   days on market $98,000 Active 232 DOM
10. 2026-06-05
    days on market $98,000 Active 229 DOM
11. 2026-06-03
    days on market $98,000 Active 228 DOM
12. 2026-06-02
    days on market $98,000 Active 227 DOM
13. 2026-06-01
    days on market $98,000 Active 226 DOM
14. 2026-05-31
    days on market $98,000 Active 225 DOM
15. 2026-02-15
    price $98,000 616-char remark

    Show marketing remark (616 chars)

    FAMILY PARK- LOWEST PARK RENT AROUND- $840 ALL AGES Park. 2 PETS ALLOWED. This home will INCLUDES FIRST YEAR HOME WARRANTY! BEAUTIFUL HOME AT A GREAT PRICE!!! CALL TO SCHEDUAL A SHOWING. 1994 home has been well taken care of. Owner had to relocate due to work. Home includes stainless steel appliance. Double pane vinyl windows, laminate plank flooring throughout. Washer & dryer. Extra deep kitchen sink with beautiful dark wood cabinets lots of counter space with a breakfast bar and stools that stay with the home. Primary bedroom has a sliding glass door with deck. This is a MUST SEE and will not last long!

16. 2025-12-05
    price $109,000 616-char remark

    Show marketing remark (616 chars)

    FAMILY PARK- LOWEST PARK RENT AROUND- $840 ALL AGES Park. 2 PETS ALLOWED. This home will INCLUDES FIRST YEAR HOME WARRANTY! BEAUTIFUL HOME AT A GREAT PRICE!!! CALL TO SCHEDUAL A SHOWING. 1994 home has been well taken care of. Owner had to relocate due to work. Home includes stainless steel appliance. Double pane vinyl windows, laminate plank flooring throughout. Washer & dryer. Extra deep kitchen sink with beautiful dark wood cabinets lots of counter space with a breakfast bar and stools that stay with the home. Primary bedroom has a sliding glass door with deck. This is a MUST SEE and will not last long!

17. 2025-11-23
    price $115,000 616-char remark

    Show marketing remark (616 chars)

    FAMILY PARK- LOWEST PARK RENT AROUND- $840 ALL AGES Park. 2 PETS ALLOWED. This home will INCLUDES FIRST YEAR HOME WARRANTY! BEAUTIFUL HOME AT A GREAT PRICE!!! CALL TO SCHEDUAL A SHOWING. 1994 home has been well taken care of. Owner had to relocate due to work. Home includes stainless steel appliance. Double pane vinyl windows, laminate plank flooring throughout. Washer & dryer. Extra deep kitchen sink with beautiful dark wood cabinets lots of counter space with a breakfast bar and stools that stay with the home. Primary bedroom has a sliding glass door with deck. This is a MUST SEE and will not last long!

18. 2025-10-18
    listed $119,000 Active 616-char remark

    Show marketing remark (616 chars)

    FAMILY PARK- LOWEST PARK RENT AROUND- $840 ALL AGES Park. 2 PETS ALLOWED. This home will INCLUDES FIRST YEAR HOME WARRANTY! BEAUTIFUL HOME AT A GREAT PRICE!!! CALL TO SCHEDUAL A SHOWING. 1994 home has been well taken care of. Owner had to relocate due to work. Home includes stainless steel appliance. Double pane vinyl windows, laminate plank flooring throughout. Washer & dryer. Extra deep kitchen sink with beautiful dark wood cabinets lots of counter space with a breakfast bar and stools that stay with the home. Primary bedroom has a sliding glass door with deck. This is a MUST SEE and will not last long!

ⓘ 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: $434 · $36/mo
• Projected year-2 tax: $951 · $79/mo
• Expected delta: +$516/yr (+$43/mo · 119.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 11 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,010
• − Mortgage interest: −$5,490
• − Property taxes: −$434
• − Insurance: −$490
• − Repairs & maintenance: −$1,841
• − Management: −$1,841
• − Depreciation: −$2,851
• Taxable income: $10,064
• Est. tax owed @ 24.0%: −$2,415
• After-tax cash flow: $8,671/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: Hillsboro SD 1J
• NCES district ID: 4100023
• Math proficiency: 35% ▼ -4.00%
• Reading proficiency: 46% ▼ -7.00%
• Median HH income: $68,587
• Composite: 36.64/100
• National rank: #4617
• State rank: #13 of 58 in OR

Livability — Hillsboro

• Score: 87/100
• State rank: #13
• US rank: #282

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hillsboro, OR
• County: Washington County · 583,254 people
• City population: 102,767
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 48,410
• Household income: $109,985
• Rent vs Own: 30.2% rent · 69.8% own
• Severe rent burden: 929.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 54% Hispanic / Latino 29% Two or more races 17% Asian 9% Native American 2% Black 2%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Portuguese 3% Italian 3% Lithuanian 2%
• Foreign-born: 20% · Canada, Vietnam, China
• Languages at home: 70% English-only · Spanish 22% Vietnamese 2% Other Indo-European 2%

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: ▼ -419.54%
• Current HPI: 297.1522
• Rent YoY: ▼ -1.44%
• 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

-17.6% since first listed

4 events — show timeline

• 2026-02-15 Price Changed $98,000 RMLS
• 2025-12-05 Price Changed $109,000 RMLS
• 2025-11-23 Price Changed $115,000 RMLS
• 2025-10-18 Listed $119,000 RMLS

Property tax history

+3.7%/yr

Latest (2020): $434 · +5.4% YoY. Source: county tax records.