4617 SE 133rd Dr #92 · Portland, OR 97236

$200,000

4 bd · 2.0 ba · 1,848 sqft · Manufactured public records · 129 Days on market

Built 1995 $108/sqft · 61% above area ↓ 11% 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
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious, bright, fully renovated and thoughtfully designed home with open-concept living, vaulted ceilings in the living room and tons of natural light throughout! The kitchen offers quartz, an eating bar and stainless steel appliances are all included. The family room with an electric fireplace connects directly to the primary suite, which was used as a private caregiver space when the home was set up for foster care use. The primary suite includes an ensuite bathroom with double sinks and a walk-in shower. Both bathrooms were remodeled in 2021, along with new LVP flooring throughout. Step outside to enjoy a large deck, backing to a green space with walking trails & pond and a fully fenced yard, perfect for relaxing or entertaining. Major upgrades include a new heat pump installed in 2023 and a composition roof approximately 10 years old. This well laid out, versatile home offers space, privacy and comfort in a peaceful setting!!

Key facts

• Double sinks
• Fully renovated
• Vaulted ceilings

Tags

• FULLY RENOVATED
• OPEN-CONCEPT LIVING
• VAULTED CEILINGS
• ELECTRIC FIREPLACE
• ENSUITE BATHROOM
• DOUBLE SINKS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $200k.

Deal economics

• At list price, monthly cash flow is $650 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.1% 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.
• David Douglas SD 40 (urban): math 34% / reading 49% proficiency, ranked #99 of 183 in OR (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.6%/yr); 204 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 46% 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).
• This rent runs 40% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 + 1.6% rent growth), your $56k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 129 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $152/mo.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $176,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 129 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.26% ✓
• Cap rate: 11.10%
• Cash-on-cash: 17.18%
• DSCR: 1.76
• GRM: 6.6

CMA / ARV

• ARV (median comp): $124,065
• List price: $200,000
• Delta: 61.21%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13443 SE Pardee Dr #3	0.07mi	3/2.0 (-1)	1,620 (-12%)	2mo	$142,000	$88	70
13115 SE Foster Rd #13	0.72mi	4/2.0	1,848 (0%)	11mo	$100,000	$54	57
13115 SE Foster Rd #12	0.69mi	3/2.0 (-1)	1,848 (0%)	18mo	$98,000	$53	47
5029 SE 133rd Dr #058	0.20mi	3/2.0 (-1)	1,620 (-12%)	23mo	$138,000	$85	46

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 · 1.64% rent growth · sell at horizon

5-year hold

• IRR: 2.6%
• Equity multiple: 1.10×
• Total profit: $5,584
• Equity at exit: $29,821

10-year hold

• IRR: 10.9%
• Equity multiple: 1.80×
• Total profit: $44,603
• Equity at exit: $17,292

Cash invested: $56,000 (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 97236

• Rents YoY: 1.6%
• Active inventory: 204
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $2,526 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$62 /mo · $739/yr
• Insurance: −$83
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$530
• Net cashflow: $650

Break-even live

Break-even rent $1,703

Max offer price $200,000

Occupancy floor 69%

Sensitivity live

Price	-10% $763	-5% $706	+0% $650	+5% $593	+10% $537
Rent	-10% $450	-5% $550	+0% $650	+5% $750	+10% $849
Rate	-1.0pp $751	-0.5pp $701	base $650	+0.5pp $598	+1.0pp $545

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13515 SE Holgate Blvd Portland, OR	3.0	2.0	2160	$2,495	$1.16	44d	1	0.14mi
3883 SE 136th Ave Portland, OR	4.0	2.5	1660	$2,400	$1.45	44d	1	0.38mi
5329 SE 137th Ave Portland, OR	3.0	2.5	1559	$2,250	$1.44	24d	1	0.39mi
5344 SE 137th Ave Portland, OR	3.0	2.5	1600	$2,395	$1.50	18d	1	0.41mi
3745-3749 SE 127th Pl Unit 3749 Portland, OR	3.0	2.5	1467	$2,195	$1.50	8d	1	0.49mi
4632 SE 122nd Ave Unit D Portland, OR	4.0	2.0	2500	$2,800	$1.12	44d	1	0.50mi
4904 SE 122nd Ave Portland, OR	3.0	3.0	1504	$4,400	$2.93	44d	1	0.54mi
13726 SE Reedway St Portland, OR	3.0	2.5	1817	$2,295	$1.26	44d	1	0.57mi
5524 SE 140th Pl Portland, OR	4.0	3.0	1584	$3,050	$1.93	18d	1	0.60mi
12550 SE Powell Blvd Portland, OR	1.0–3.0	1.0–2.0	1075	$2,300	$2.14	3d	2	0.63mi
12548 SE Ramona St Portland, OR	5.0	2.5	2120	$3,095	$1.46	44d	1	0.71mi
6130 SE 128th Ave Apt B Portland, OR	3.0	2.0	1500	$1,999	$1.33	8d	1	0.80mi
3810 SE 117th Pl Portland, OR	3.0	2.5	1378	$2,445	$1.77	24d	1	0.81mi
3223 SE 122nd Ave Unit A-B Portland, OR	4.0	2.5	1572	$2,495	$1.59	44d	1	0.87mi
12616 SE Taggart St Portland, OR	3.0	1.5	1329	$2,295	$1.73	8d	1	0.92mi
2658 SE 125th Ave Unit 2654 Portland, OR	3.0	2.5	1378	$2,195	$1.59	3d	1	1.00mi
13448 SE Division St Portland, OR	4.0	2.0	1450	$2,550	$1.76	3d	1	1.03mi
13450 SE Division St Portland, OR	4.0	2.0	1450	$2,550	$1.76	44d	1	1.03mi
6439 SE 143rd Ct #1 Portland, OR	3.0	2.5	1545	$2,395	$1.55	44d	1	1.05mi
11908 SE Foster Rd Portland, OR	3.0	2.0	1300	$2,595	$2.00	44d	1	1.10mi
15075 SE Powell Blvd Portland, OR	3.0	3.5	1500	$2,295	$1.53	5d	3	1.13mi
15075 SE Powell Blvd Apt 4 Portland, OR	3.0	3.5	1500	$2,395	$1.60	44d	1	1.13mi
12625 SE Division St Unit B Portland, OR	3.0	2.5	1420	$2,395	$1.69	24d	1	1.16mi
14915 SE Woodward St Portland, OR	4.0	2.0	1608	$2,850	$1.77	2d	1	1.19mi
5010 SE 108th Ave Portland, OR	3.0	2.0	1400	$2,350	$1.68	44d	1	1.25mi
15110 SE Evergreen Dr Portland, OR	4.0	2.0	1650	$3,400	$2.06	12d	1	1.49mi

Listing history 16 events

1. 2026-06-18
   days on market $200,000 Active 129 DOM
2. 2026-06-17
   days on market $200,000 Active 128 DOM
3. 2026-06-16
   days on market $200,000 Active 127 DOM
4. 2026-06-15
   days on market $200,000 Active 126 DOM
5. 2026-06-13
   days on market $200,000 Active 124 DOM
6. 2026-06-09
   days on market $200,000 Active 120 DOM
7. 2026-06-08
   days on market $200,000 Active 119 DOM
8. 2026-06-07
   days on market $200,000 Active 118 DOM
9. 2026-06-05
   days on market $200,000 Active 115 DOM
10. 2026-06-03
    days on market $200,000 Active 114 DOM
11. 2026-06-02
    days on market $200,000 Active 113 DOM
12. 2026-06-01
    days on market $200,000 Active 112 DOM
13. 2026-05-31
    days on market $200,000 Active 111 DOM
14. 2026-05-15
    status Pending 949-char remark

    Show marketing remark (949 chars)

    Spacious, bright, fully renovated and thoughtfully designed home with open-concept living, vaulted ceilings in the living room and tons of natural light throughout! The kitchen offers quartz, an eating bar and stainless steel appliances are all included. The family room with an electric fireplace connects directly to the primary suite, which was used as a private caregiver space when the home was set up for foster care use. The primary suite includes an ensuite bathroom with double sinks and a walk-in shower. Both bathrooms were remodeled in 2021, along with new LVP flooring throughout. Step outside to enjoy a large deck, backing to a green space with walking trails & pond and a fully fenced yard, perfect for relaxing or entertaining. Major upgrades include a new heat pump installed in 2023 and a composition roof approximately 10 years old. This well laid out, versatile home offers space, privacy and comfort in a peaceful setting!!

15. 2026-03-30
    price $200,000 949-char remark

    Show marketing remark (949 chars)

    Spacious, bright, fully renovated and thoughtfully designed home with open-concept living, vaulted ceilings in the living room and tons of natural light throughout! The kitchen offers quartz, an eating bar and stainless steel appliances are all included. The family room with an electric fireplace connects directly to the primary suite, which was used as a private caregiver space when the home was set up for foster care use. The primary suite includes an ensuite bathroom with double sinks and a walk-in shower. Both bathrooms were remodeled in 2021, along with new LVP flooring throughout. Step outside to enjoy a large deck, backing to a green space with walking trails & pond and a fully fenced yard, perfect for relaxing or entertaining. Major upgrades include a new heat pump installed in 2023 and a composition roof approximately 10 years old. This well laid out, versatile home offers space, privacy and comfort in a peaceful setting!!

16. 2026-01-27
    listed $225,000 Active 949-char remark

    Show marketing remark (949 chars)

    Spacious, bright, fully renovated and thoughtfully designed home with open-concept living, vaulted ceilings in the living room and tons of natural light throughout! The kitchen offers quartz, an eating bar and stainless steel appliances are all included. The family room with an electric fireplace connects directly to the primary suite, which was used as a private caregiver space when the home was set up for foster care use. The primary suite includes an ensuite bathroom with double sinks and a walk-in shower. Both bathrooms were remodeled in 2021, along with new LVP flooring throughout. Step outside to enjoy a large deck, backing to a green space with walking trails & pond and a fully fenced yard, perfect for relaxing or entertaining. Major upgrades include a new heat pump installed in 2023 and a composition roof approximately 10 years old. This well laid out, versatile home offers space, privacy and comfort in a peaceful setting!!

ⓘ 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: $739 · $62/mo
• Projected year-2 tax: $1,940 · $162/mo
• Expected delta: +$1,201/yr (+$100/mo · 162.6%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AH · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 16 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: $30,313
• − Mortgage interest: −$11,203
• − Property taxes: −$739
• − Insurance: −$2,824
• − Repairs & maintenance: −$2,425
• − Management: −$2,425
• − Depreciation: −$5,818
• Taxable income: $4,878
• Est. tax owed @ 24.0%: −$1,171
• After-tax cash flow: $6,627/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: David Douglas SD 40
• NCES district ID: 4103940
• Math proficiency: 34% ▲ 1.00%
• Reading proficiency: 49% ▲ 1.00%
• Median HH income: $42,781
• Composite: 37.38/100
• National rank: #8926
• State rank: #99 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): 37,558
• Household income: $75,090
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 1744.0

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 21% Asian 13% Two or more races 12% Black 9% Pacific Islander 1%
• Hispanic origin (detail): Mexican 15% Cuban 1%
• Common ancestry: Italian 3% Scotch-Irish 2% Subsaharan African 2%
• Foreign-born: 25% · Canada, Vietnam, China
• Languages at home: 63% English-only · Spanish 16% Vietnamese 6% Russian/Polish/Slavic 5%

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: ▼ -334.44%
• Current HPI: 289.931
• Rent YoY: ▲ 1.64%
• 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

-11.1% since first listed

3 events — show timeline

• 2026-05-15 Pending — RMLS
• 2026-03-30 Price Changed $200,000 RMLS
• 2026-01-27 Listed $225,000 RMLS

Property tax history

-0.6%/yr

Latest (2025): $739 · +9.7% YoY. Source: county tax records.