9707 N Lombard St · Portland, OR 97203

$450,000

4 bd · 1.0 ba · 1,551 sqft · SingleFamily public records · 19 Days on market

Built 1925 5,227 sqft lot $290/sqft · 12% above area Est $544k · 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 +10.3/30.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• Rent growth +3.0/5.0
• DSCR +2.9/10.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Large Old Portland Home with lots of charm New roof,hot water heater, interior paint, wood floors,The living room dining room has a wood burning fireplace. Large corner lot Lombard traffic is in the process of changing. Detached garage possible extra living space. The basement unfinished Cash Only

Key facts

• Wood floors
• Quartzite counters
• Farmhouse sink

Tags

• RENOVATED INTERIOR
• WOOD FLOORS
• WOOD-BURNING FIREPLACE
• REDESIGNED KITCHEN
• QUARTZITE COUNTERS
• FARMHOUSE SINK

Property features AI

Finance

• Other: Green certified

Exterior

• Parking: Driveway and on-street parking; Detached 1-car garage
• Utilities: Public water; Public sewer; Fiber optics internet available; Gas fuel
• Home design: Single family residence (residential); Updated / remodeled; No shared/attached units; Property address: 9707 N Lombard St, Portland, OR 97203
• Construction: Built in 1925; Wood siding exterior; Composition roof; Concrete perimeter / stem wall foundation
• Exterior features: Fenced yard; Patio; Porch; Public road access; Corner lot; Level lot

Interior

• Kitchen: Built-in range; Dishwasher; Free-standing refrigerator; Microwave; Quartz counter(s); Tile floor; Eat bar; Exterior entry from kitchen
• Bedrooms: Primary bedroom on main level with closet and wood floors; Second bedroom on main level with closet and wood floors; Third bedroom on upper level with walk-in closet and wood floors; Fourth bedroom on upper level with walk-in closet and wood floors
• Flooring: Wood floors; Tile floors; Quartz surfaces noted in interior and kitchen
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Forced air heating (gas); Central air conditioning
• Interior features: High ceilings; Soaking tub; Washer/Dryer hook-ups; Wood-burning fireplace; Double pane windows with vinyl frames; Partial unfinished basement; Garage on main (accessibility)
• Laundry & utility: Washer/Dryer (washer/dryer listed as interior feature); Gas hot water

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $450k.

Deal economics

• At list price, monthly cash flow is $-249 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $406k (9.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $330k (26.6% below list).
• Recommended offer: $330k (26.6% below list) — sets the bar for 1% rule.
• Cap rate 5.6% 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: Sitton Elementary School (345 students, 70% FRL); George Middle School (387 students, 64% FRL); Roosevelt High School (1,484 students, 65% FRL) — zoned schools average 67% FRL vs 37% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.1%/yr); 207 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 2,041 units permitted in Multnomah County in 2024 (905 in 5+ unit buildings).
• At $3,301/mo this rent would consume 50% of the median local household income ($79k/yr) (locally 1401% 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 $14k 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 19 days — a 2% lower offer ($443k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y 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: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $330,093 (26.6% 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. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
6. 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.
7. 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.
8. 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: 0.73% ✗
• Cap rate: 5.63%
• Cash-on-cash: -2.37%
• DSCR: 0.89
• GRM: 11.4

CMA / ARV

• ARV (median comp): $544,334
• List price: $450,000
• Delta: -17.33%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9945 N Lombard St	0.15mi	3/2.0 (-1)	1,567 (+1%)	2mo	$449,900	$287	81
9953 N Central St	0.20mi	4/1.0	1,453 (-6%)	8mo	$440,000	$303	74
9816 N Central St	0.11mi	3/2.0 (-1)	1,624 (+5%)	5mo	$465,000	$286	73
7217 N Catlin Ave	0.17mi	4/3.0	1,460 (-6%)	6mo	$525,000	$360	69
9116 N Syracuse St	0.32mi	3/1.0 (-1)	1,635 (+5%)	7mo	$429,000	$262	66
9560 N Ivanhoe St	0.12mi	3/2.0 (-1)	1,360 (-12%)	2mo	$541,000	$398	63
9216 N Smith St	0.29mi	3/2.0 (-1)	1,600 (+3%)	14mo	$527,000	$329	61
8334 N Fessenden St	0.56mi	4/2.0	1,513 (-2%)	14mo	$436,465	$288	54
9607 N Pier Park Pl	0.45mi	3/3.0 (-1)	1,486 (-4%)	8mo	$505,000	$340	52
9619 N Kalmar St	0.49mi	3/3.0 (-1)	1,458 (-6%)	6mo	$490,000	$336	50
8324 N Johnswood Dr	0.72mi	3/2.0 (-1)	1,360 (-12%)	3mo	$463,000	$340	34
8564 N Mohawk Ave	0.74mi	3/2.0 (-1)	1,368 (-12%)	11mo	$499,000	$365	28

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 · 2.11% rent growth · sell at horizon

5-year hold

• IRR: -21.2%
• Equity multiple: 0.27×
• Total profit: $-91,806
• Equity at exit: $67,096

10-year hold

• IRR: -16.7%
• Equity multiple: 0.11×
• Total profit: $-112,594
• Equity at exit: $38,908

Cash invested: $126,000 (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

• Rents YoY: 2.1%
• Active inventory: 207
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $3,301 high
• Mortgage (P&I): −$2,360
• Tax from tax record: −$309 /mo · $3,711/yr
• Insurance: −$188
• HOA: −$0
• Vacancy / Maint / Mgmt: −$693
• Net cashflow: $-249

Break-even live

Break-even rent $3,616

Max offer price $406,035

Occupancy floor —

Sensitivity live

Price	-10% $6	-5% $-122	+0% $-249	+5% $-376	+10% $-504
Rent	-10% $-510	-5% $-379	+0% $-249	+5% $-118	+10% $12
Rate	-1.0pp $-22	-0.5pp $-134	base $-249	+0.5pp $-365	+1.0pp $-484

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9833 N Lombard St Unit 9833 Portland, OR	5.0	2.0	1800	$2,495	$1.39	45d	1	0.07mi
9626 N Seneca St Portland, OR	3.0	1.0	1100	$2,500	$2.27	45d	1	0.29mi
6824 N Catlin Ave Unit A Portland, OR	3.0	2.5	1600	$5,995	$3.75	25d	1	0.31mi
6824 N Catlin Ave Portland, OR	3.0	3.0	1600	$5,995	$3.75	25d	1	0.31mi
7937 N Fessenden St Unit 7927 Portland, OR	3.0	1.0	1075	$1,945	$1.81	25d	1	0.74mi
7731 N Decatur St Portland, OR	3.0	2.5	1522	$2,995	$1.97	13d	1	1.05mi
6842 N Mears St Portland, OR	3.0	2.5	1580	$2,895	$1.83	45d	1	1.31mi
6815 N Sky St Portland, OR	3.0	2.0	1206	$2,895	$2.40	45d	1	1.33mi

Listing history 13 events

1. 2026-05-12
   status Pending 1050-char remark
2. 2026-04-23
   listed $450,000 Active 1050-char remark
3. 2018-05-21
   soldstatus $300,000 Sold 300-char remark

   Show marketing remark (300 chars)

   Large Old Portland Home with lots of charm New roof,hot water heater, interior paint, wood floors,The living room dining room has a wood burning fireplace. Large corner lot Lombard traffic is in the process of changing. Detached garage possible extra living space. The basement unfinished Cash Only

4. 2018-02-27
   status Pending 300-char remark

   Show marketing remark (300 chars)

   Large Old Portland Home with lots of charm New roof,hot water heater, interior paint, wood floors,The living room dining room has a wood burning fireplace. Large corner lot Lombard traffic is in the process of changing. Detached garage possible extra living space. The basement unfinished Cash Only

5. 2018-02-24
   price $315,000 300-char remark

   Show marketing remark (300 chars)

   Large Old Portland Home with lots of charm New roof,hot water heater, interior paint, wood floors,The living room dining room has a wood burning fireplace. Large corner lot Lombard traffic is in the process of changing. Detached garage possible extra living space. The basement unfinished Cash Only

6. 2018-02-24
   price $300,000 300-char remark

   Show marketing remark (300 chars)

   Large Old Portland Home with lots of charm New roof,hot water heater, interior paint, wood floors,The living room dining room has a wood burning fireplace. Large corner lot Lombard traffic is in the process of changing. Detached garage possible extra living space. The basement unfinished Cash Only

7. 2018-02-20
   status Active 300-char remark

   Show marketing remark (300 chars)

   Large Old Portland Home with lots of charm New roof,hot water heater, interior paint, wood floors,The living room dining room has a wood burning fireplace. Large corner lot Lombard traffic is in the process of changing. Detached garage possible extra living space. The basement unfinished Cash Only

8. 2018-01-31
   status Pending 300-char remark

   Show marketing remark (300 chars)

   Large Old Portland Home with lots of charm New roof,hot water heater, interior paint, wood floors,The living room dining room has a wood burning fireplace. Large corner lot Lombard traffic is in the process of changing. Detached garage possible extra living space. The basement unfinished Cash Only

9. 2017-12-22
   price $349,900 300-char remark

   Show marketing remark (300 chars)

   Large Old Portland Home with lots of charm New roof,hot water heater, interior paint, wood floors,The living room dining room has a wood burning fireplace. Large corner lot Lombard traffic is in the process of changing. Detached garage possible extra living space. The basement unfinished Cash Only

10. 2017-10-03
    price $389,900 300-char remark

    Show marketing remark (300 chars)

    Large Old Portland Home with lots of charm New roof,hot water heater, interior paint, wood floors,The living room dining room has a wood burning fireplace. Large corner lot Lombard traffic is in the process of changing. Detached garage possible extra living space. The basement unfinished Cash Only

11. 2017-09-13
    price $424,900 300-char remark

    Show marketing remark (300 chars)

    Large Old Portland Home with lots of charm New roof,hot water heater, interior paint, wood floors,The living room dining room has a wood burning fireplace. Large corner lot Lombard traffic is in the process of changing. Detached garage possible extra living space. The basement unfinished Cash Only

12. 2017-08-31
    price $434,900 300-char remark

    Show marketing remark (300 chars)

    Large Old Portland Home with lots of charm New roof,hot water heater, interior paint, wood floors,The living room dining room has a wood burning fireplace. Large corner lot Lombard traffic is in the process of changing. Detached garage possible extra living space. The basement unfinished Cash Only

13. 2017-08-19
    listed $449,900 Active 300-char remark

    Show marketing remark (300 chars)

    Large Old Portland Home with lots of charm New roof,hot water heater, interior paint, wood floors,The living room dining room has a wood burning fireplace. Large corner lot Lombard traffic is in the process of changing. Detached garage possible extra living space. The basement unfinished Cash Only

ⓘ 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: $3,711 · $309/mo
• Projected year-2 tax: $4,365 · $364/mo
• Expected delta: +$654/yr (+$54/mo · 17.6%)

ⓘ 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 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: $39,611
• − Mortgage interest: −$25,207
• − Property taxes: −$3,711
• − Insurance: −$2,250
• − Repairs & maintenance: −$3,169
• − Management: −$3,169
• − Depreciation: −$13,091
• Taxable loss: −$10,986
• Est. tax savings @ 24.0%: +$2,637
• After-tax cash flow: $-350/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): 33,116
• Household income: $78,660
• Rent vs Own: 43.0% rent · 57.0% own
• Severe rent burden: 1401.0

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 0.65)
• 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%

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: ▲ 2.11%
• 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

+1.1% since first listed

14 events — show timeline

• 2026-06-12 Sold (MLS) $455,000 RMLS
• 2026-05-12 Pending — RMLS
• 2026-04-23 Listed $450,000 RMLS
• 2018-05-21 Sold (MLS) $300,000 RMLS
• 2018-02-27 Pending — RMLS
• 2018-02-24 Price Changed $315,000 RMLS
• 2018-02-24 Price Changed $300,000 RMLS
• 2018-02-20 Relisted — RMLS
• 2018-01-31 Pending — RMLS
• 2017-12-22 Price Changed $349,900 RMLS
• 2017-10-03 Price Changed $389,900 RMLS
• 2017-09-13 Price Changed $424,900 RMLS
• 2017-08-31 Price Changed $434,900 RMLS
• 2017-08-19 Listed $449,900 RMLS

Property tax history

+4.4%/yr

Latest (2025): $3,711 · +3.7% YoY. Source: county tax records.