11453 SW Royal Villa Dr · Tigard, OR 97224

$35,000

2 bd · 2.0 ba · 826 sqft · Manufactured · 37 Days on market

Built 1965 Fair condition $42/sqft · 8% below area Est $38k · 8% 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).

• Cash flow +15.0/30.0
• ARV discount +11.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.9/10.0
• Livability +4.4/5.0
• Rent growth +2.4/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Updated semi-secluded 2br/2ba light & bright singlewide w/2 tip outs! NEWER vinyl windows & Insulated ROOF System!18x8 Sun Porch could be SHOP! Lg liv rm! Cute Kit w/fltrd drink wtr! EZ care yd!GREAT 55+aprvd pk! Close to pl, clbhs, putting green, ACTIVITIES! King City! ONLY $5,850!!

Key facts

• Backs to green space
• Fitness center
• New carpet

Tags

• NEW CARPET
• FUNCTIONAL LAYOUT
• BACKS TO GREEN SPACE
• RESORT-STYLE AMENITIES
• SCENIC WALKING PATHS
• FITNESS CENTER

Property features AI

Finance

• Other: Property subtype: Manufactured home in park; Main level area approximately 826
• Financial info: Home is in a land-lease park (land lease in place; lease expires June 30, 2026); Monthly lot rent
• HOA & community: Community amenities: commons, gym, library, management, meeting room, party room, pool, weight room; Located in a senior community (Royal Villas)

Exterior

• Parking: Covered carport
• Utilities: Public water; Public sewer; Electric power
• Home design: Manufactured home in a park (residential); Single-story (main level living); No notable view
• Construction: Built in 1965; Metal roof
• Exterior features: Metal siding; Tool shed; Private, wooded lot; Paved road access

Interior

• Kitchen: Built-in oven; Built-in range; Dishwasher; Free-standing refrigerator
• Bedrooms: Primary bedroom (Main level); Second bedroom
• Flooring: Wall-to-wall carpet
• Bathrooms: 2 full bathrooms (both on main level)
• Heating & cooling: Forced air heating; Central air conditioning; Electric fuel
• Interior features: One-level accessible floor plan; Wall-to-wall carpet; Double-pane windows with vinyl frames; Crawl space foundation
• Laundry & utility: Washer/Dryer included; Electric hot water

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $35k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $35k).
• Recommended offer: $34k (3.0% below list) — sets the bar for market timing.
• Cap rate 44.9% vs local median 2.5% in Tigard — 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 (#14 in OR, #311 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: crime D-, cost of living F.
• Tigard-Tualatin SD 23J (suburban): math 47% / reading 65% proficiency, ranked #6 of 58 in OR (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: James Templeton Elementary School (reading 24%, 514 students, 47% FRL); Twality Middle School (math 54% / reading 64%, grade B, #17 of 128 statewide, top 14%, 918 students, 31% FRL); Tigard High School (math 24% / reading 75%, grade D+, #32 of 143 statewide, top 34%, 1,799 students, 31% FRL).
• Market conditions: Rents soft (-0.4%/yr); 422 active listings in the ZIP; 39 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 $242 of loan paydown is wiped out by about $1k 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 $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 22y 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 $5k; list at $35k implies a 622% gain — meaningful room to come down on a strong offer.

Recommended offer $33,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% 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 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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. 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?
8. 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.
9. 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.
10. 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: 4.95% ✓
• Cap rate: 44.93%
• Cash-on-cash: 137.98%
• DSCR: 7.14
• GRM: 1.7

CMA / ARV

• ARV (median comp): $37,971
• List price: $35,000
• Delta: -7.82%
• Verdict: FAIR
• Comps: 6 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11626 SW Royal Villa Dr	0.11mi	2/2.0	840 (+2%)	24mo	$39,500	$47	72
11712 SW Royal Villa Dr #96	0.08mi	2/1.0	760 (-8%)	8mo	$45,000	$59	72
11544 SW Royal Villa Dr #15	0.08mi	2/1.0	800 (-3%)	18mo	$59,500	$74	72
11544 SW Royal Villa Dr	0.05mi	2/1.0	800 (-3%)	20mo	$22,500	$28	71
11736 SW Royal Villa Dr	0.13mi	1/1.0 (-1)	732 (-11%)	7mo	$32,000	$44	60
17181 SW Eldorado Dr	0.72mi	2/1.0	864 (+5%)	10mo	$14,500	$17	47

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.23×
• Total profit: $61,048
• Equity at exit: $5,219

10-year hold

• IRR: —
• Equity multiple: 13.86×
• Total profit: $126,059
• Equity at exit: $3,026

Cash invested: $9,800 (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 97224

• Rents YoY: -0.4%
• Active inventory: 422
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $1,733 high
• Mortgage (P&I): −$184
• Tax est. 1.5%: −$44 /mo · $525/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $1,127

Break-even live

Break-even rent $306

Max offer price $35,000

Occupancy floor 30%

Sensitivity live

Price	-10% $1,151	-5% $1,139	+0% $1,127	+5% $1,115	+10% $1,103
Rent	-10% $990	-5% $1,058	+0% $1,127	+5% $1,195	+10% $1,264
Rate	-1.0pp $1,144	-0.5pp $1,136	base $1,127	+0.5pp $1,118	+1.0pp $1,109

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17000 SW Pacific Hwy Portland, OR	1.0–2.0	1.0–2.0	684	$1,575	$2.30	44d	3	0.29mi
12070 SW Fischer Rd Portland, OR	1.0–3.0	1.0–2.0	925	$1,812	$1.96	2d	9	0.34mi
16055 SW 108th Ave Tigard, OR	1.0–2.0	1.0–2.0	852	$1,940	$2.28	8d	9	0.44mi
10900 SW Gaarde St Unit 273-16 Tigard, OR	2.0	1.0	900	$1,575	$1.75	24d	1	0.53mi
10900 SW Gaarde St Portland, OR	2.0	1.0	825	$1,525	$1.85	8d	4	0.53mi
11865 SW Tualatin Rd Tualatin, OR	2.0–3.0	2.0–2.5	1154	$1,697	$1.47	2d	19	0.58mi
17979 SW 115th Ave Unit 6 Tualatin, OR	2.0	1.5	1064	$1,625	$1.53	24d	1	0.68mi
17987 SW 115th Ave Unit 1 Tualatin, OR	2.0	1.0	900	$1,475	$1.64	24d	1	0.69mi
17989 SW 115th Ave Tualatin, OR	2.0	1.0–1.5	982	$1,550	$1.58	24d	2	0.69mi
11773 SW King George Dr King City, OR	1.0–2.0	1.0–2.0	826	$2,500	$3.03	12d	7	0.70mi
16444 SW 130th Ter King City, OR	2.0	2.0	1002	$1,695	$1.69	44d	1	0.75mi
17865 SW Pacific Hwy Tualatin, OR	1.0–3.0	1.0–2.0	970	$1,970	$2.03	2d	13	0.76mi
11390 SW Naeve St Tigard, OR	1.0–2.0	1.0–2.0	893	$2,119	$2.37	4d	5	0.77mi
15199 SW Royalty Pkwy Portland, OR	1.0–3.0	1.0–2.0	884	$1,805	$2.04	2d	12	0.78mi
13060 SW Dickson St Portland, OR	2.0	2.0	1108	$1,850	$1.67	44d	1	0.80mi
11545 SW Beef Bend Rd Portland, OR	2.0	2.0	935	$1,514	$1.62	4d	1	0.84mi
16849 SW 131st Ave Portland, OR	2.0	2.0	1029	$1,950	$1.90	15d	1	0.86mi
16901 SW 132nd Ter Unit 16915 B Tigard, OR	1.0	1.0	714	$1,695	$2.37	5d	1	0.88mi
14844 SW 109th Ave Portland, OR	2.0	1.5	1024	$1,950	$1.90	44d	1	0.93mi
14799 SW 109th Ave Unit 3102 Tigard, OR	2.0	2.0	986	$1,695	$1.72	8d	1	0.95mi
14799 SW 109th Ave Unit 2502 Tigard, OR	2.0	2.0	986	$1,645	$1.67	44d	1	0.95mi
14799 SW 109th Ave Unit 7504 Tigard, OR	2.0	2.0	986	$1,575	$1.60	24d	1	0.95mi
14799 SW 109th Ave Unit 5702 Tigard, OR	2.0	2.0	986	$1,745	$1.77	22d	1	0.95mi
11430 SW Bull Mountain Rd Tigard, OR	2.0	2.0	986	$1,970	$2.00	4d	6	0.96mi
10695 SW Murdock St Tigard, OR	2.0	1.0	793	$1,806	$2.28	2d	13	0.99mi
9720 SW Tualatin Rd Tualatin, OR	2.0	2.0	1100	$1,750	$1.59	44d	1	1.15mi
14100 SW 112th Ave Unit A03 Portland, OR	1.0	1.0	840	$1,550	$1.85	44d	1	1.22mi
14100 SW 112th Ave Unit I08 Portland, OR	2.0	1.0	1084	$1,614	$1.49	13d	1	1.22mi
14100 SW 112th Ave Unit F06 Portland, OR	2.0	1.0	840	$1,614	$1.92	44d	1	1.22mi
11050 SW Gaarde St Portland, OR	2.0	1.0	776	$1,400	$1.80	44d	1	1.25mi
10900 SW Gaarde St Unit 273-04 Tigard, OR	2.0	1.0	750	$1,350	$1.80	24d	1	1.26mi
13830 SW Chinn Ln Portland, OR	1.0–3.0	1.0–2.0	839	$1,724	$2.05	4d	11	1.27mi
14070 SW 112th Ave Portland, OR	1.0	1.0	700	$1,250	$1.79	44d	1	1.28mi
14130 SW 105th Ave Portland, OR	2.0	1.0	900	$1,495	$1.66	24d	1	1.29mi
10450 SW McDonald St Unit 46 Portland, OR	2.0	1.0	800	$1,475	$1.84	44d	1	1.35mi
10450 SW McDonald St Unit 51 Portland, OR	1.0	1.0	700	$1,325	$1.89	44d	1	1.36mi
10450 SW McDonald St Unit 5 Tigard, OR	2.0	1.0	800	$1,475	$1.84	21d	1	1.37mi
15870 SW 88th Ave Unit A Tigard, OR	2.0	1.0	1013	$1,745	$1.72	44d	1	1.37mi
14495 SW Beef Bend Rd Portland, OR	1.0–2.0	1.0–2.0	845	$1,925	$2.28	5d	12	1.45mi

Listing history 18 events

1. 2026-06-21
   days on market $35,000 Active 37 DOM
2. 2026-06-18
   days on market $35,000 Active 34 DOM
3. 2026-06-17
   days on market $35,000 Active 33 DOM
4. 2026-06-16
   days on market $35,000 Active 32 DOM
5. 2026-06-15
   days on market $35,000 Active 31 DOM
6. 2026-06-13
   days on market $35,000 Active 29 DOM
7. 2026-06-09
   days on market $35,000 Active 25 DOM
8. 2026-06-08
   days on market $35,000 Active 24 DOM
9. 2026-06-07
   days on market $35,000 Active 23 DOM
10. 2026-06-05
    days on market $35,000 Active 20 DOM
11. 2026-06-03
    days on market $35,000 Active 19 DOM
12. 2026-06-02
    days on market $35,000 Active 18 DOM
13. 2026-06-01
    days on market $35,000 Active 17 DOM
14. 2026-05-31
    days on market $35,000 Active 16 DOM
15. 2026-05-15
    listed $35,000 Active 890-char remark
16. 2004-04-30
    soldstatus $4,850 292-char remark

    Show marketing remark (292 chars)

    Updated semi-secluded 2br/2ba light & bright singlewide w/2 tip outs! NEWER vinyl windows & Insulated ROOF System!18x8 Sun Porch could be SHOP! Lg liv rm! Cute Kit w/fltrd drink wtr! EZ care yd!GREAT 55+aprvd pk! Close to pl, clbhs, putting green, ACTIVITIES! King City! ONLY $5,850!!

17. 2004-03-30
    historical 292-char remark

    Show marketing remark (292 chars)

    Updated semi-secluded 2br/2ba light & bright singlewide w/2 tip outs! NEWER vinyl windows & Insulated ROOF System!18x8 Sun Porch could be SHOP! Lg liv rm! Cute Kit w/fltrd drink wtr! EZ care yd!GREAT 55+aprvd pk! Close to pl, clbhs, putting green, ACTIVITIES! King City! ONLY $5,850!!

18. 2004-02-25
    listed $4,850 292-char remark

    Show marketing remark (292 chars)

    Updated semi-secluded 2br/2ba light & bright singlewide w/2 tip outs! NEWER vinyl windows & Insulated ROOF System!18x8 Sun Porch could be SHOP! Lg liv rm! Cute Kit w/fltrd drink wtr! EZ care yd!GREAT 55+aprvd pk! Close to pl, clbhs, putting green, ACTIVITIES! King City! ONLY $5,850!!

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 20% 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 · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,791
• − Mortgage interest: −$1,961
• − Property taxes: −$525
• − Insurance: −$175
• − Repairs & maintenance: −$1,663
• − Management: −$1,663
• − Depreciation: −$1,018
• Taxable income: $13,786
• Est. tax owed @ 24.0%: −$3,309
• After-tax cash flow: $10,214/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 Cosmetic rehab

This manufactured home is in fair condition with cosmetic updates needed. It offers a good starting point for a potential investor looking to make some improvements.

Repairs flagged

• Minor wooden steps — slight wear
• Minor light fixtures — need cleaning

Value-add opportunities

• Both paint exterior — enhances curb appeal and value
• Both replace light fixtures — improves aesthetics and functionality
• Both landscape overgrown areas — enhances curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
wooden steps · slight wear	Minor	$500–3,000
light fixtures · need cleaning	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both paint exterior — enhances curb appeal and value ↑
• Both replace light fixtures — improves aesthetics and functionality ↑
• Both landscape overgrown areas — enhances curb appeal and value ↑

ⓘ 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: Tigard-Tualatin SD 23J
• NCES district ID: 4112240
• Math proficiency: 47% ▼ -3.00%
• Reading proficiency: 65% ▲ 3.00%
• Median HH income: $60,739
• Composite: 48.72/100
• National rank: #2100
• State rank: #6 of 58 in OR

Livability — Tigard

• Score: 87/100
• State rank: #14
• US rank: #311

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

• County: Washington County · 583,254 people
• City population: 87,096
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 36,569
• Household income: $98,125
• Rent vs Own: 30.0% rent · 70.0% own
• Severe rent burden: 1468.0

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: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 10% Two or more races 8% Asian 8% Black 3%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 4% Lithuanian 4% Slovak 3%
• Foreign-born: 13% · Canada, Vietnam, China
• Languages at home: 83% English-only · Spanish 7% Other Indo-European 3% Vietnamese 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: ▼ -287.40%
• Current HPI: 277.57
• Rent YoY: ▼ -0.38%
• 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

+621.6% since first listed

4 events — show timeline

• 2026-05-15 Listed $35,000 RMLS
• 2004-04-30 Sold (MLS) $4,850 RMLS
• 2004-03-30 Delisted — RMLS
• 2004-02-25 Listed $4,850 RMLS