8750 SE 155th Ave #28 · Happy Valley, OR 97086

$209,500

2 bd · 2.0 ba · 1,188 sqft · Other · 253 Days on market

Built 2013 $176/sqft · 255% above area

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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 +27.6/30.0
• DSCR +9.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Livability +3.8/5.0
• Schools +3.5/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Priced below market for a fast, compelling opportunity.Welcome to effortless modern living in this beautifully refreshed 2013 home, thoughtfully remodeled and relandscaped in 2024/2025. From the moment you step inside, vaulted ceilings and a light-filled open layout create an immediate sense of space and airiness throughout the 1,188 sq ft footprint.The seamless living, dining, and kitchen design is perfect for both quiet evenings and easy entertaining. The kitchen is as functional as it is stylish — abundant cabinetry, a dedicated pantry, and expansive counter space make storage simple and everyday living feel elevated.Retreat to the private primary suite featuring a walk-in closet, while the second bedroom and bath offer flexibility for guests, hobbies, or a home office. With everything on one level, this home delivers true ease and comfort. Ceiling fans and central air keep you comfortable year-round.Step outside to your own peaceful escape — a spacious private deck and yard surrounded by mature trees and greenery, creating a quiet, tucked-away feel. Two backyard sheds (one large, one smaller) provide exceptional storage, and doggie doors are already in place for your four-legged companion.Move-in ready, beautifully updated, and designed for low-maintenance living — this home blends modern style, thoughtful storage, and single-level convenience in a way that feels both practical and inviting.

Key facts

• Built 2013
• Listed 253 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $210k.

Deal economics

• At list price, monthly cash flow is $627 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $210k).
• Recommended offer: $184k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 2.5% in Happy Valley — 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 76/100 on livability (#76 in OR, #3,386 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, cost of living F.
• Centennial SD 28J (suburban): math 31% / reading 43% proficiency, ranked #125 of 183 in OR (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.9%/yr); 344 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 946 units permitted in Clackamas County in 2024 (188 in 5+ unit buildings).

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.
• Clackamas County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.9% rent growth), your $59k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 253 days — a 12% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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 $127k; list at $210k implies a 65% gain — meaningful room to come down on a strong offer.

Recommended offer $184,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 253 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
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: 1.14% ✓
• Cap rate: 9.88%
• Cash-on-cash: 12.82%
• DSCR: 1.57
• GRM: 7.3

CMA / ARV

• ARV (median comp): $59,000
• List price: $209,500
• Delta: 255.08%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.89% rent growth · sell at horizon

5-year hold

• IRR: 1.5%
• Equity multiple: 1.06×
• Total profit: $3,235
• Equity at exit: $31,237

10-year hold

• IRR: 10.0%
• Equity multiple: 1.74×
• Total profit: $43,279
• Equity at exit: $18,114

Cash invested: $58,660 (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 97086

• Rents YoY: 1.9%
• Active inventory: 344
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,393 high
• Mortgage (P&I): −$1,099
• Tax from tax record: −$78 /mo · $935/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$502
• Net cashflow: $627

Break-even live

Break-even rent $1,600

Max offer price $209,500

Occupancy floor 69%

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: $52,375
• Closing costs: $6,285
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14322 SE Ridgecrest Rd Unit 14322~Ridgecrest~G-4~K276 Happy Valley, OR	3.0	1.5	1200	$2,300	$1.92	44d	1	0.65mi
12927 SE Ridgecrest Rd Happy Valley, OR	2.0	1.0	842	$2,395	$2.84	24d	1	1.29mi
12929 SE Ridgecrest Rd Happy Valley, OR	2.0	1.0	842	$2,395	$2.84	44d	1	1.29mi
12917 SE Ridgecrest Rd Happy Valley, OR	2.0	1.0	842	$2,295	$2.73	44d	1	1.30mi
12907 SE Ridgecrest Rd Happy Valley, OR	3.0	2.5	1400	$3,395	$2.42	2d	1	1.31mi
12905 SE Ridgecrest Rd Happy Valley, OR	2.0	2.5	1195	$2,795	$2.34	2d	1	1.31mi
12903 SE Ridgecrest Rd Happy Valley, OR	2.0	2.5	1209	$2,795	$2.31	10d	1	1.32mi
11386 SE Pleasant Valley Pkwy Happy Valley, OR	1.0–2.0	1.0–2.0	1001	$2,855	$2.85	2d	17	1.41mi

Listing history 18 events

1. 2026-06-18
   days on market $209,500 Active 253 DOM
2. 2026-06-17
   days on market $209,500 Active 252 DOM
3. 2026-06-16
   days on market $209,500 Active 251 DOM
4. 2026-06-15
   days on market $209,500 Active 250 DOM
5. 2026-06-13
   days on market $209,500 Active 248 DOM
6. 2026-06-13
   days on market $209,500 Active 247 DOM
7. 2026-06-09
   days on market $209,500 Active 244 DOM
8. 2026-06-07
   days on market $209,500 Active 242 DOM
9. 2026-06-05
   days on market $209,500 Active 239 DOM
10. 2026-06-03
    days on market $209,500 Active 238 DOM
11. 2026-06-02
    days on market $209,500 Active 237 DOM
12. 2026-06-01
    days on market $209,500 Active 236 DOM
13. 2026-05-31
    days on market $209,500 Active 235 DOM
14. 2025-12-09
    price $209,500 1436-char remark

    Show marketing remark (1436 chars)

    Priced below market for a fast, compelling opportunity.Welcome to effortless modern living in this beautifully refreshed 2013 home, thoughtfully remodeled and relandscaped in 2024/2025. From the moment you step inside, vaulted ceilings and a light-filled open layout create an immediate sense of space and airiness throughout the 1,188 sq ft footprint.The seamless living, dining, and kitchen design is perfect for both quiet evenings and easy entertaining. The kitchen is as functional as it is stylish — abundant cabinetry, a dedicated pantry, and expansive counter space make storage simple and everyday living feel elevated.Retreat to the private primary suite featuring a walk-in closet, while the second bedroom and bath offer flexibility for guests, hobbies, or a home office. With everything on one level, this home delivers true ease and comfort. Ceiling fans and central air keep you comfortable year-round.Step outside to your own peaceful escape — a spacious private deck and yard surrounded by mature trees and greenery, creating a quiet, tucked-away feel. Two backyard sheds (one large, one smaller) provide exceptional storage, and doggie doors are already in place for your four-legged companion.Move-in ready, beautifully updated, and designed for low-maintenance living — this home blends modern style, thoughtful storage, and single-level convenience in a way that feels both practical and inviting.

15. 2025-10-07
    listed $220,000 Active 1436-char remark

    Show marketing remark (1436 chars)

    Priced below market for a fast, compelling opportunity.Welcome to effortless modern living in this beautifully refreshed 2013 home, thoughtfully remodeled and relandscaped in 2024/2025. From the moment you step inside, vaulted ceilings and a light-filled open layout create an immediate sense of space and airiness throughout the 1,188 sq ft footprint.The seamless living, dining, and kitchen design is perfect for both quiet evenings and easy entertaining. The kitchen is as functional as it is stylish — abundant cabinetry, a dedicated pantry, and expansive counter space make storage simple and everyday living feel elevated.Retreat to the private primary suite featuring a walk-in closet, while the second bedroom and bath offer flexibility for guests, hobbies, or a home office. With everything on one level, this home delivers true ease and comfort. Ceiling fans and central air keep you comfortable year-round.Step outside to your own peaceful escape — a spacious private deck and yard surrounded by mature trees and greenery, creating a quiet, tucked-away feel. Two backyard sheds (one large, one smaller) provide exceptional storage, and doggie doors are already in place for your four-legged companion.Move-in ready, beautifully updated, and designed for low-maintenance living — this home blends modern style, thoughtful storage, and single-level convenience in a way that feels both practical and inviting.

16. 2021-06-25
    soldstatus $127,000 Sold 485-char remark

    Show marketing remark (485 chars)

    Peaceful and quiet setting but close to the city. This small community is tucked away in Happy Valley and you would never know its there unless your looking for it! Built in 2013 but shows like its new! Wonderful Kitchen with a Pantry, Large Formal dining and Living all flow together and the sliding glass door opens to a large deck with a view of wildlife and trees. Big Master Suite with spa like private bath. Nice size guest bedroom for company. Easy living all on one level.

17. 2021-05-21
    status Pending 485-char remark

    Show marketing remark (485 chars)

    Peaceful and quiet setting but close to the city. This small community is tucked away in Happy Valley and you would never know its there unless your looking for it! Built in 2013 but shows like its new! Wonderful Kitchen with a Pantry, Large Formal dining and Living all flow together and the sliding glass door opens to a large deck with a view of wildlife and trees. Big Master Suite with spa like private bath. Nice size guest bedroom for company. Easy living all on one level.

18. 2021-05-17
    listed $127,000 Active 485-char remark

    Show marketing remark (485 chars)

    Peaceful and quiet setting but close to the city. This small community is tucked away in Happy Valley and you would never know its there unless your looking for it! Built in 2013 but shows like its new! Wonderful Kitchen with a Pantry, Large Formal dining and Living all flow together and the sliding glass door opens to a large deck with a view of wildlife and trees. Big Master Suite with spa like private bath. Nice size guest bedroom for company. Easy living all on one level.

ⓘ 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: $935 · $78/mo
• Projected year-2 tax: $2,032 · $169/mo
• Expected delta: +$1,097/yr (+$91/mo · 117.4%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥91°F today · 14 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: $28,714
• − Mortgage interest: −$11,735
• − Property taxes: −$935
• − Insurance: −$1,048
• − Repairs & maintenance: −$2,297
• − Management: −$2,297
• − Depreciation: −$6,095
• Taxable income: $4,308
• Est. tax owed @ 24.0%: −$1,034
• After-tax cash flow: $6,484/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: Centennial SD 28J
• NCES district ID: 4102800
• Math proficiency: 31% ▼ -2.00%
• Reading proficiency: 43% ▼ -2.00%
• Median HH income: $49,619
• Composite: 34.5/100
• National rank: #10133
• State rank: #125 of 183 in OR

Livability — Happy Valley

• Score: 76/100
• State rank: #76
• US rank: #3386

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Happy Valley, OR
• County: Clackamas County · 361,406 people
• City population: 34,567
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 34,567
• Household income: $102,359
• Rent vs Own: 37.3% rent · 62.7% own
• Severe rent burden: 1281.0

Population outlook (Clackamas County) Hauer SSP2

• Today (2025): 458,456 people
• By 2030: 485,185 · +5.8%
• By 2040: 532,932 · +16.2%
• By 2050: 574,445 · +25.3%
• By 2075: 665,497 · +45.2%
• By 2100: 697,488 · +52.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 63% Asian 17% Two or more races 12% Hispanic / Latino 9% Black 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 4% Portuguese 4% Lithuanian 2%
• Foreign-born: 18% · Canada, Vietnam, China
• Languages at home: 79% English-only · Spanish 5% Vietnamese 3% Chinese 3%

Political lean MEDSL · Clackamas

• 2024 margin: Lean D (+9.7) · D 53.4% · R 43.6% · Other 3.0%
• 2008→2024 swing: -0.6pp no change · 2008: 10.4pp · 2024: 9.7pp
• All cycles: 2024: D+9.7 2020: D+11.1 2016: D+6.1 2012: D+3.5 2008: D+10.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -279.06%
• Current HPI: 261.5208
• Rent YoY: ▲ 1.89%
• 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

+65.0% since first listed

5 events — show timeline

• 2025-12-09 Price Changed $209,500 RMLS
• 2025-10-07 Listed $220,000 RMLS
• 2021-06-25 Sold (MLS) $127,000 RMLS
• 2021-05-21 Pending — RMLS
• 2021-05-17 Listed $127,000 RMLS

Property tax history

+3.6%/yr

Latest (2025): $935 · +4.4% YoY. Source: county tax records.