2241 N Menzies Dr · Portland, OR 97217

$99,850

2 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 22 Days on market

Built 1978 $87/sqft · 31% below area Est $145k · 31% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

78 BARRINGTON MANUFHS ON OVERSIZED RIVER FRONT LOT. WRAP AROUND DECK EXTENSIVE REMODEL W/OAK CABINETS,TILE,SLATE ENTRY,MAHOGANT TRIM,MSTR W/ BATH & TUB. CALL DAVE BAKER @ [phone]

Key facts

• Covered deck
• 180 degree view
• Completely remodeled

Tags

• COLUMBIA RIVER FRONT LOCATION
• 180 DEGREE VIEW
• COVERED DECK
• COMPLETELY REMODELED
• DOUBLE-PANED VINYL WINDOWS
• REMODELED BATHROOM

Property features AI

Finance

• Financial info: Land lease in effect (land lease expiration: September 16, 2026); lot rent $1,455 monthly
• HOA & community: Community amenities include pool, gym/weight room, basketball court, commons, meeting/party rooms, recreation facilities; association handles water, sewer, and trash; on-site management

Exterior

• Parking: Carport; Driveway; One parking space
• Utilities: Public water; Public sewer; Electric hot water; Electric fuel
• Home design: Manufactured home in park; Residential property; Updated/remodeled condition; Main level living; River view
• Construction: Built in 1978; Metal siding; Composition roof; Crawl space foundation
• Exterior features: Covered deck; Sprinkler system; Tool shed; Yard; Riverfront view (Columbia River)

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Free-standing range; Free-standing refrigerator; Pantry; Updated/remodeled kitchen; Laminate flooring in kitchen
• Bedrooms: Primary bedroom on main (updated/remodeled, includes bathroom); Second bedroom on main with closet organizer
• Flooring: Wall-to-wall carpet in living and bedrooms; Vinyl flooring; Laminate flooring in kitchen
• Bathrooms: Two full bathrooms, both on the main level
• Heating & cooling: Heat pump (heating and cooling)
• Interior features: High ceilings; Vaulted ceilings; Laundry area (washer/dryer included); Accessible approach with ramp; Ground-level and one-level living; Main floor bedroom with bath; Utility room on main; Double-pane windows with vinyl frames; Wall-to-wall carpet; Vinyl flooring; Crawl space basement
• Laundry & utility: Utility room on main (8' x 8') with built-in washer/dryer; Washer/Dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 20.5% 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); Da Vinci Middle School (434 students, 34% FRL); Jefferson High School (606 students, 64% FRL) — zoned schools average 57% FRL vs 37% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 306 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals leasing fast (median 0d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $690 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 28y 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 $48k; list at $100k implies a 108% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $98,352 (1.5% below list)

Questions for the listing agent

1. Built in 1978 — 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: 2.27% ✓
• Cap rate: 20.53%
• Cash-on-cash: 50.85%
• DSCR: 3.26
• GRM: 3.7

CMA / ARV

• ARV (median comp): $145,314
• List price: $99,850
• Delta: -31.29%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1503 N Hayden Island Dr #232	0.25mi	3/2.0 (+1)	1,120 (-3%)	1mo	$165,000	$147	78
2371 N Menzies Ct	0.09mi	3/2.0 (+1)	1,200 (+4%)	8mo	$185,000	$154	77
1503 N Hayden Island Dr #15	0.25mi	3/2.0 (+1)	1,152 (0%)	21mo	$137,400	$119	66
1503 N Hayden Island Dr #242	0.25mi	2/2.0	1,200 (+4%)	22mo	$85,000	$71	63
1501 N Hayden Island Dr Unit 26a	0.43mi	3/2.0 (+1)	1,109 (-4%)	12mo	$95,000	$86	59
1501 N Hayden Island Dr Unit 42B	0.40mi	2/2.0	1,080 (-6%)	18mo	$138,500	$128	56
12335 N South Shore Ave	0.47mi	2/2.0	1,248 (+8%)	13mo	$28,500	$23	54
12452 N Westshore Dr	0.39mi	2/2.0	1,248 (+8%)	24mo	$73,000	$58	48

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 · 0.89% rent growth · sell at horizon

5-year hold

• IRR: 43.1%
• Equity multiple: 2.80×
• Total profit: $50,362
• Equity at exit: $14,888

10-year hold

• IRR: 48.2%
• Equity multiple: 5.19×
• Total profit: $117,145
• Equity at exit: $8,633

Cash invested: $27,958 (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: 306
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $2,264 high
• Mortgage (P&I): −$524
• Tax from tax record: −$38 /mo · $461/yr
• Insurance: −$42
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$475
• Net cashflow: $1,118

Break-even live

Break-even rent $848

Max offer price $99,850

Occupancy floor 46%

Sensitivity live

Price	-10% $1,175	-5% $1,147	+0% $1,118	+5% $1,090	+10% $1,062
Rent	-10% $939	-5% $1,029	+0% $1,118	+5% $1,208	+10% $1,297
Rate	-1.0pp $1,169	-0.5pp $1,144	base $1,118	+0.5pp $1,092	+1.0pp $1,066

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: $24,962
• Closing costs: $2,996
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1111 W Columbia Way Vancouver, WA	2.0	1.0–2.5	857	$4,800	$5.60	0d	25	0.43mi
1110 W Columbia Way Vancouver, WA	2.0	1.0–2.0	783	$3,849	$4.91	0d	10	0.46mi
1000 W Columbia Way Vancouver, WA	1.0–2.0	1.0–2.0	835	$3,282	$3.93	0d	13	0.50mi
111 Parkway Pl Vancouver, WA	1.0–2.0	1.0–2.0	983	$4,995	$5.08	0d	3	0.51mi
500 W Columbia Way Vancouver, WA	2.0	1.0–2.0	849	$3,995	$4.71	0d	7	0.58mi
440 W Columbia Way Vancouver, WA	2.0	1.0–2.0	863	$4,682	$5.43	0d	149	0.60mi
636 W 6th St Vancouver, WA	1.0	1.0	707	$1,961	$2.77	0d	8	0.65mi
555 W 8th St Vancouver, WA	1.0–2.0	1.0	695	$1,630	$2.35	3d	11	0.72mi
411 Columbia St Vancouver, WA	2.0	1.0–2.0	836	$3,377	$4.04	0d	15	0.76mi
300 W 8th St Vancouver, WA	1.0–2.0	1.0–2.0	915	$2,932	$3.20	0d	1	0.83mi
608 Washington St Vancouver, WA	2.0	1.0–2.0	903	$3,236	$3.58	0d	8	0.84mi
701 Columbia St #107 Vancouver, WA	2.0	2.0	871	$1,995	$2.29	25d	1	0.85mi
1614 Kauffman Ave Vancouver, WA	3.0	1.0	1200	$2,150	$1.79	25d	1	1.01mi
410 W Mill Plain Blvd Vancouver, WA	2.0	1.0–2.0	713	$1,646	$2.31	0d	6	1.07mi
183 N Hayden Bay Dr Portland, OR	1.0	1.0	858	$1,800	$2.10	45d	1	1.08mi
1245 N Anchor Way Portland, OR	2.0	1.0–2.0	868	$2,250	$2.59	0d	15	1.11mi
1601 Esther St Unit 1601 Vancouver, WA	3.0	2.0	1248	$2,499	$2.00	25d	1	1.11mi
1601 Esther St Vancouver, WA	3.0	2.0	1248	$2,499	$2.00	0d	1	1.11mi
123 N Hayden Bay Dr Portland, OR	2.0	1.0	889	$2,249	$2.53	45d	1	1.12mi
609 W McLoughlin Blvd Vancouver, WA	2.0	1.0	752	$1,795	$2.39	4d	1	1.12mi
1055 N Anchor Way Portland, OR	1.0–2.0	1.0–2.0	1056	$3,150	$2.98	0d	35	1.19mi
300 E 13th St Vancouver, WA	2.0	1.0–2.0	733	$2,100	$2.86	0d	8	1.21mi
1818 W 22nd St Vancouver, WA	2.0	1.0	957	$2,195	$2.29	0d	1	1.24mi
1818 W 22nd St Vancouver, WA	2.0	1.0	957	$2,195	$2.29	23d	1	1.24mi
904 W 21st St Vancouver, WA	2.0	1.0	782	$1,495	$1.91	25d	1	1.26mi
1700 Main St Vancouver, WA	2.0	1.0–2.0	834	$2,290	$2.74	0d	11	1.26mi
910 N Harbour Dr Portland, OR	1.0–2.0	1.0–2.0	1002	$1,949	$1.94	0d	3	1.29mi
995 N Marine Dr Portland, OR	2.0	1.0–2.0	924	$2,036	$2.20	0d	11	1.31mi
1655 C St Vancouver, WA	1.0	1.0	736	$1,549	$2.10	0d	2	1.32mi
1660 D St Vancouver, WA	2.0–3.0	1.0–2.0	820	$1,525	$1.86	9d	3	1.33mi
1600 E St Vancouver, WA	1.0–2.0	1.5–2.0	946	$2,275	$2.40	16d	5	1.37mi
110 N Tomahawk Island Dr Portland, OR	1.0–2.0	1.0–2.0	994	$2,674	$2.69	0d	25	1.43mi
2515 Harney St Vancouver, WA	2.0	1.0	900	$1,745	$1.94	19d	1	1.45mi

Listing history 6 events

1. 2026-06-02
   statusdays on market $99,850 Pending 22 DOM
2. 2026-06-01
   days on market $99,850 Active 21 DOM
3. 2026-05-31
   days on market $99,850 Active 20 DOM
4. 2026-05-11
   listed $99,850 Active 1345-char remark
5. 1998-11-12
   soldstatus $47,900 188-char remark

   Show marketing remark (188 chars)

   78 BARRINGTON MANUFHS ON OVERSIZED RIVER FRONT LOT. WRAP AROUND DECK EXTENSIVE REMODEL W/OAK CABINETS,TILE,SLATE ENTRY,MAHOGANT TRIM,MSTR W/ BATH & TUB. CALL DAVE BAKER @ [phone]

6. 1998-06-03
   listed $52,900 188-char remark

   Show marketing remark (188 chars)

   78 BARRINGTON MANUFHS ON OVERSIZED RIVER FRONT LOT. WRAP AROUND DECK EXTENSIVE REMODEL W/OAK CABINETS,TILE,SLATE ENTRY,MAHOGANT TRIM,MSTR W/ BATH & TUB. CALL DAVE BAKER @ [phone]

ⓘ 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: $461 · $38/mo
• Projected year-2 tax: $969 · $81/mo
• Expected delta: +$508/yr (+$42/mo · 110.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 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: $27,166
• − Mortgage interest: −$5,593
• − Property taxes: −$461
• − Insurance: −$1,297
• − Repairs & maintenance: −$2,173
• − Management: −$2,173
• − Depreciation: −$2,905
• Taxable income: $12,564
• Est. tax owed @ 24.0%: −$3,015
• After-tax cash flow: $10,405/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

+88.8% since first listed

4 events — show timeline

• 2026-06-02 Pending — RMLS
• 2026-05-11 Listed $99,850 RMLS
• 1998-11-12 Sold (MLS) $47,900 RMLS
• 1998-06-03 Listed $52,900 RMLS

Property tax history

+28.8%/yr

Latest (2016): $461 · +14.4% YoY. Source: county tax records.