522 SE 199th Ave · Gresham, OR 97233

$59,000

2 bd · 1.0 ba · 684 sqft · Manufactured · 105 Days on market

Built 1968 Fair condition $86/sqft · 44% above area Est $41k · 44% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• Schools +2.7/10.0
• Condition / age +2.2/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lovely home with lots of grass and yard with a great outdoor covered porch. Beautifully maintained home, owner has replaced all the flooring in the home in last 7 years, updated bathroom in the last 2 years, new Milgard windows, new furnace, new insulation in crawl, large central air unit, newer oven, and fridge. Excellent opportunity to own a very clean and meticulous home.

Key facts

• New furnace
• New milgard windows
• Updated bathroom

Tags

• OUTDOOR COVERED PORCH
• REPLACED ALL FLOORING
• UPDATED BATHROOM
• NEW MILGARD WINDOWS
• NEW FURNACE
• NEW INSULATION

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $59k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $749 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).
• Recommended offer: $54k (9.0% below list) — sets the bar for market timing.
• Cap rate 21.5% vs local median 2.8% in Gresham — 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 81/100 on livability (#51 in OR, #1,537 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: schools C-, cost of living D, crime D-.
• Reynolds SD 7 (suburban): math 21% / reading 36% proficiency, ranked #162 of 183 in OR (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 153 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $408 of loan paydown is wiped out by about $2k 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 + 1.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 105 days — a 9% lower offer ($54k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y 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.
• Current owner paid $13k; list at $59k implies a 354% gain — meaningful room to come down on a strong offer.

Recommended offer $53,690 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 2.48% ✓
• Cap rate: 21.52%
• Cash-on-cash: 54.38%
• DSCR: 3.42
• GRM: 3.4

CMA / ARV

• ARV (median comp): $40,876
• List price: $59,000
• Delta: 44.34%
• Verdict: OVERPRICED
• Comps: 8 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.96% rent growth · sell at horizon

5-year hold

• IRR: 50.2%
• Equity multiple: 3.13×
• Total profit: $35,196
• Equity at exit: $8,797

10-year hold

• IRR: 54.9%
• Equity multiple: 5.87×
• Total profit: $80,534
• Equity at exit: $5,101

Cash invested: $16,520 (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 97233

• Rents YoY: 1.0%
• Active inventory: 153
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,464 high
• Mortgage (P&I): −$309
• Tax est. 1.5%: −$74 /mo · $885/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $749

Break-even live

Break-even rent $516

Max offer price $59,000

Occupancy floor 44%

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20121 SE Stark St Portland, OR	1.0–3.0	1.0–2.0	873	$1,714	$1.96	2d	5	0.17mi
468 SE 202nd Ave Portland, OR	1.0–2.0	1.0	715	$1,625	$2.27	14d	4	0.17mi
19550 E Burnside St Portland, OR	1.0–2.0	1.0	650	$1,350	$2.08	3d	3	0.30mi
768 SE 193rd Ave Portland, OR	1.0	1.0	600	$1,025	$1.71	3d	1	0.32mi
19213 SE Yamhill St Portland, OR	1.0–2.0	1.0	625	$1,325	$2.12	24d	1	0.39mi
19100 E Burnside St Portland, OR	1.0–2.0	1.0–2.0	863	$1,538	$1.78	44d	1	0.44mi
19109 SE Yamhill St Unit D Portland, OR	1.0	1.0	620	$1,095	$1.77	44d	1	0.44mi
19109 SE Yamhill St Unit B Portland, OR	1.0	1.0	620	$1,095	$1.77	24d	1	0.44mi
19115 SE Yamhill St Portland, OR	1.0	1.0	620	$1,095	$1.77	24d	1	0.45mi
20220 NE Glisan St Portland, OR	1.0–2.0	1.0	767	$1,595	$2.08	4d	2	0.54mi
878 SE 187th Ave Unit 131 Portland, OR	1.0	1.0	435	$1,175	$2.70	14d	1	0.60mi
878 SE 187th Ave Unit 107 Portland, OR	1.0	1.0	435	$1,100	$2.53	44d	1	0.60mi
746 SE 187th Ave Unit 101 Portland, OR	1.0	1.0	500	$1,195	$2.39	44d	1	0.61mi
18618 E Burnside St Portland, OR	2.0	1.0–2.0	803	$2,375	$2.96	2d	25	0.64mi
783 SE 185th Ave Portland, OR	1.0–3.0	1.0–2.0	861	$1,634	$1.90	3d	10	0.72mi
18245 E Burnside St Unit 111 Portland, OR	2.0	1.0	750	$1,395	$1.86	16d	1	0.85mi
635 SE 182nd Ave Unit 669 Portland, OR	1.0	1.0	600	$1,150	$1.92	24d	1	0.88mi
17920 SE Stark St Unit 4 Portland, OR	1.0	1.0	560	$1,150	$2.05	44d	1	1.00mi
1132 NW Birdsdale Ave Gresham, OR	1.0–3.0	1.0–2.5	1136	$1,994	$1.75	4d	7	1.00mi
17925 E Burnside St Unit 105 Portland, OR	1.0	1.0	640	$1,300	$2.03	44d	1	1.04mi
1699 NW Civic Dr Gresham, OR	2.0	1.0–2.0	811	$2,544	$3.14	18d	27	1.09mi
1341 NE Park Ln Fairview, OR	1.0	1.0	642	$1,495	$2.33	44d	1	1.19mi
17528 E Burnside St Portland, OR	2.0	1.0–1.5	655	$1,749	$2.67	16d	5	1.21mi
1136 NE 181st Ave Portland, OR	1.0–2.0	1.0	762	$1,475	$1.93	8d	2	1.24mi
665 NE 178th Ave Portland, OR	1.0–3.0	1.0–2.0	855	$1,520	$1.78	2d	16	1.25mi
17455 SE Washington Ct Portland, OR	1.0	1.0	681	$1,295	$1.90	8d	2	1.25mi
1555 NE Village St Fairview, OR	1.0	1.0	618	$1,400	$2.27	2d	1	1.27mi
1300 NE 181st Ave Unit 42 Portland, OR	2.0	1.0	669	$1,240	$1.85	44d	1	1.29mi
1300 NE 181st Ave Unit 38 Portland, OR	2.0	1.0	669	$1,185	$1.77	44d	1	1.29mi
1650 NE Market Dr Fairview, OR	1.0–2.0	1.0	741	$1,895	$2.56	2d	3	1.29mi
17376 NE Couch St Portland, OR	1.0	1.0	724	$1,150	$1.59	44d	1	1.32mi
21933 NE Chinook Way Fairview, OR	1.0–3.0	1.0–2.5	874	$1,802	$2.06	2d	8	1.37mi
123 NE 172nd Ave Portland, OR	1.0	1.0	600	$1,095	$1.82	44d	1	1.42mi
17924 SE Division St Portland, OR	2.0–3.0	1.0	770	$1,349	$1.75	44d	3	1.44mi
22100 NE Halsey St Fairview, OR	1.0–3.0	1.0–2.0	1003	$1,947	$1.94	3d	10	1.47mi
21929 NE Halsey St Unit 201 Fairview, OR	1.0	1.0	700	$1,595	$2.28	44d	1	1.49mi
17726 SE Division St Portland, OR	1.0–2.0	1.0–1.5	788	$1,575	$2.00	11d	3	1.50mi

Listing history 17 events

1. 2026-06-18
   days on market $59,000 Active 105 DOM
2. 2026-06-17
   days on market $59,000 Active 104 DOM
3. 2026-06-16
   days on market $59,000 Active 103 DOM
4. 2026-06-15
   days on market $59,000 Active 102 DOM
5. 2026-06-13
   days on market $59,000 Active 100 DOM
6. 2026-06-13
   days on market $59,000 Active 99 DOM
7. 2026-06-09
   days on market $59,000 Active 96 DOM
8. 2026-06-08
   days on market $59,000 Active 95 DOM
9. 2026-06-07
   days on market $59,000 Active 94 DOM
10. 2026-06-03
    days on market $59,000 Active 90 DOM
11. 2026-06-02
    days on market $59,000 Active 89 DOM
12. 2026-06-01
    days on market $59,000 Active 88 DOM
13. 2026-05-31
    days on market $59,000 Active 87 DOM
14. 2026-03-05
    listed $59,000 Active 377-char remark

    Show marketing remark (377 chars)

    Lovely home with lots of grass and yard with a great outdoor covered porch. Beautifully maintained home, owner has replaced all the flooring in the home in last 7 years, updated bathroom in the last 2 years, new Milgard windows, new furnace, new insulation in crawl, large central air unit, newer oven, and fridge. Excellent opportunity to own a very clean and meticulous home.

15. 2014-01-29
    soldstatus $13,000 Sold 257-char remark

    Show marketing remark (257 chars)

    Many updates to this mobile home located in Mobile Park Plaza, an over 55 community. New carpet, vinyl flooring, BI Micro & BI Oven, new water heater to name a few. Space rental is $455/mo. which includes water, sewer, garbage, pool and community room.

16. 2014-01-11
    status Pending 257-char remark

    Show marketing remark (257 chars)

    Many updates to this mobile home located in Mobile Park Plaza, an over 55 community. New carpet, vinyl flooring, BI Micro & BI Oven, new water heater to name a few. Space rental is $455/mo. which includes water, sewer, garbage, pool and community room.

17. 2014-01-10
    listed $14,500 Active 257-char remark

    Show marketing remark (257 chars)

    Many updates to this mobile home located in Mobile Park Plaza, an over 55 community. New carpet, vinyl flooring, BI Micro & BI Oven, new water heater to name a few. Space rental is $455/mo. which includes water, sewer, garbage, pool and community room.

ⓘ 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 23 unhealthy d/yr today · 27 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,565
• − Mortgage interest: −$3,305
• − Property taxes: −$885
• − Insurance: −$295
• − Repairs & maintenance: −$1,405
• − Management: −$1,405
• − Depreciation: −$1,716
• Taxable income: $8,553
• Est. tax owed @ 24.0%: −$2,053
• After-tax cash flow: $6,931/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 manufactured home requires moderate renovations to improve its condition and increase its value. The kitchen and bathroom need significant updates, and the front porch is in need of repair. Landscaping and curb appeal improvements would also enhance its resale and rental value.

Repairs flagged

• Major kitchen cabinets — dated and in need of replacement
• Major bathroom vanity — dated and in need of replacement
• Major front porch — structural issues and weathered appearance
• Major flooring — carpeted floors in need of replacement

Value-add opportunities

• Resale new kitchen cabinets and countertops — modernizing the kitchen
• Resale new bathroom vanity and fixtures — modernizing the bathroom
• Resale new flooring — improving the overall appearance
• Both landscaping and curb appeal — enhancing the home's exterior and curb appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of replacement	Major	$15,000–50,000
bathroom vanity · dated and in need of replacement	Major	$15,000–50,000
front porch · structural issues and weathered appearance	Major	$15,000–50,000
flooring · carpeted floors in need of replacement	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Resale new kitchen cabinets and countertops — modernizing the kitchen ↑
• Resale new bathroom vanity and fixtures — modernizing the bathroom ↑
• Resale new flooring — improving the overall appearance ↑
• Both landscaping and curb appeal — enhancing the home's exterior and curb appeal ↑

ⓘ 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: Reynolds SD 7
• NCES district ID: 4110520
• Math proficiency: 21% ▬ 0.00%
• Reading proficiency: 36% ▬ 0.00%
• Median HH income: $45,502
• Composite: 27.4/100
• National rank: #12399
• State rank: #162 of 183 in OR

Livability — Gresham

• Score: 81/100
• State rank: #51
• US rank: #1537

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gresham, OR
• County: Multnomah County · 786,692 people
• City population: 86,119
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 36,236
• Household income: $60,198
• Rent vs Own: 53.0% rent · 47.0% own
• Severe rent burden: 2541.0

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 0.67)
• Race & ethnicity: White 51% Hispanic / Latino 23% Two or more races 13% Asian 9% Black 9% Native American 2%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Scotch-Irish 4% Portuguese 3% Subsaharan African 3%
• Foreign-born: 25% · Canada, Vietnam, China
• Languages at home: 61% English-only · Spanish 18% Russian/Polish/Slavic 7% Other Asian/Pacific 3%

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: ▼ -493.14%
• Current HPI: 302.1015
• Rent YoY: ▲ 0.96%
• 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

+306.9% since first listed

4 events — show timeline

• 2026-03-05 Listed $59,000 RMLS
• 2014-01-29 Sold (MLS) $13,000 RMLS
• 2014-01-11 Pending — RMLS
• 2014-01-10 Listed $14,500 RMLS