507 N 19th Ave #88 · Cornelius, OR 97113

$125,000

2 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 10 Days on market

Manufactured home Built 1972 Est $142k · 12% 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 +28.0/30.0
• ARV discount +12.8/15.0
• DSCR +10.0/10.0
• 1% rule +6.9/10.0
• Livability +4.1/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

$4850!! 1152SF 2BR/2BA/FAM RM DBL-WDE MFG HM IN GREAT W-SIDE SR PRK! HUGE LAWNED YARD W/ROSES! FRIDG,RANGE,WASHER & DRYER STAY! LOW, LOW $379 /MO SPACE RENT=WATER,SEWER,GARBAGE! BEST DBL-WDE DEAL AROUND! WEST SIDE!

Key facts

• Large deck
• Fully remodeled
• Updated hvac

Tags

• FULLY REMODELED
• UPDATED HVAC
• CUSTOM-BUILT CABINETS
• UPGRADED APPLIANCES
• PULLOUT STORAGE SHELVES
• LARGE DECK

Property features AI

Finance

• Other: Property type: Residential — Manufactured home in park; Main level area approximately 1,152; Year built: 1972
• HOA & community: Park name: Smoketree Mobile Court; Park pet restrictions: ask manager; Land lease (monthly lot rent of $1,025) with lease through 12/31/2026

Exterior

• Parking: Carport (1 space); Off-street parking
• Utilities: Public water; Public sewer; Electric fuel; Internet: Cable and fiber optics
• Home design: Manufactured home in park (not attached); Updated/remodeled condition; Territorial view; Main living all on one level; Built in 1972
• Construction: Pillar/post/pier foundation; Membrane roof; Manufacturer: Olympian
• Exterior features: Covered deck and deck; Fenced yard; Tool shed; T-111 siding; Level, private lot; Paved road access

Interior

• Kitchen: Built-in range; Down draft; Dishwasher; Disposal; Free-standing refrigerator; Laminate flooring in kitchen; Plumbed for ice maker
• Bedrooms: Primary bedroom on main level with attached bathroom and soaking tub; Second bedroom on main level
• Flooring: Vinyl flooring; Laminate flooring (kitchen); Wall-to-wall carpet
• Bathrooms: Two full bathrooms, both on the main level
• Heating & cooling: Forced air heating; Heat pump for heating and cooling
• Interior features: High-speed internet; Laundry area on main level; Soaking tub; Vinyl flooring; Wall-to-wall carpet; Double-pane windows with vinyl frames; Crawl space foundation
• Laundry & utility: Laundry room on main level; Hot water: electric

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $390 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Cap rate 10.0% vs local median 2.9% in Cornelius — 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 82/100 on livability (#47 in OR, #1,193 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: amenities C-, cost of living C-.
• Forest Grove SD 15 (suburban): math 32% / reading 46% proficiency, ranked #111 of 183 in OR (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cornelius Elementary School (371 students, 93% FRL); Neil Armstrong Middle School (math 24% / reading 75%, grade C, #26 of 128 statewide, top 21%, 826 students, 48% FRL); Forest Grove High School (1,977 students, 41% FRL).
• Market conditions: 113 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $864 of loan paydown is wiped out by about $4k 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 + 3.0% rent growth), your $35k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 25y 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 $125k implies a 2477% gain — meaningful room to come down on a strong offer.

Recommended offer $125,000

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 1.19% ✓
• Cap rate: 10.04%
• Cash-on-cash: 13.38%
• DSCR: 1.60
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $141,696
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
570 N 10th Ave #10	0.35mi	3/2.0 (+1)	1,188 (+3%)	5mo	$45,000	$38	70
507 N 19th Ave #66	0.00mi	2/2.0	1,008 (-12%)	17mo	$60,000	$60	65
2329 N Gray St	0.33mi	3/2.0 (+1)	1,296 (+12%)	2mo	$375,000	$289	57
570 N 10th Ave #78	0.35mi	2/2.0	1,040 (-10%)	19mo	$170,000	$163	51
893 N 14th Pl #32	0.23mi	3/2.0 (+1)	1,296 (+12%)	16mo	$160,000	$123	50

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.4%
• Equity multiple: 1.13×
• Total profit: $4,569
• Equity at exit: $18,638

10-year hold

• IRR: 12.9%
• Equity multiple: 2.02×
• Total profit: $35,874
• Equity at exit: $10,808

Cash invested: $35,000 (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 97113

• Active inventory: 113
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,489 high
• Mortgage (P&I): −$656
• Tax from tax record: −$78 /mo · $940/yr
• Insurance: −$52
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $390

Break-even live

Break-even rent $995

Max offer price $125,000

Occupancy floor 69%

Sensitivity live

Price	-10% $461	-5% $426	+0% $390	+5% $355	+10% $319
Rent	-10% $273	-5% $331	+0% $390	+5% $449	+10% $508
Rate	-1.0pp $453	-0.5pp $422	base $390	+0.5pp $358	+1.0pp $325

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
898 N 18th Ave Cornelius, OR	3.0	2.5	1417	$2,195	$1.55	0d	1	0.10mi
873 N 19th Ave Cornelius, OR	3.0	2.5	1396	$2,245	$1.61	4d	1	0.11mi
1100 N Davis St Cornelius, OR	2.0	1.0	750	$1,645	$2.19	0d	2	0.41mi
1250 E Baseline St Unit 4 Cornelius, OR	2.0	1.0	700	$1,280	$1.83	6d	1	0.50mi
120 N 7th Ave Unit D Cornelius, OR	2.0	2.0	1015	$1,699	$1.67	46d	1	0.68mi
110 N 7th Ave Apt C Cornelius, OR	2.0	2.0	1015	$1,749	$1.72	46d	1	0.68mi
110 N 7th Ave Apt A Cornelius, OR	2.0	2.0	1015	$1,609	$1.59	10d	1	0.68mi
2795 N Clark Ct Cornelius, OR	3.0	2.0	1100	$2,295	$2.09	19d	1	0.68mi
100 N 7th Ave Apt B Cornelius, OR	2.0	2.0	1015	$1,599	$1.58	17d	1	0.69mi
100 N 7th Ave Unit A Cornelius, OR	2.0	2.0	1015	$1,595	$1.57	22d	1	0.69mi
101 N 7th Ave Apt D Cornelius, OR	2.0	1.5	936	$1,545	$1.65	17d	1	0.71mi
101 N 7th Ave Unit C Cornelius, OR	2.0	1.5	936	$1,499	$1.60	24d	1	0.71mi
299 N 5th Pl Cornelius, OR	2.0	2.0	956	$1,900	$1.99	46d	1	0.79mi
184 S 5th Ave Unit 164 Cornelius, OR	2.0	1.5	1114	$1,795	$1.61	17d	1	0.87mi
1318 S Ivy St Cornelius, OR	2.0	1.0	816	$1,795	$2.20	26d	1	0.90mi
1330 S Ivy St Cornelius, OR	2.0	1.0	816	$1,745	$2.14	26d	1	0.90mi
1367 S Ivy St Apt B Cornelius, OR	2.0	1.0	800	$1,550	$1.94	46d	1	0.93mi
4300 Pacific Ave Forest Grove, OR	2.0	1.5	950	$1,645	$1.73	0d	5	1.16mi
4204 Pacific Ave Forest Grove, OR	2.0	1.0	900	$1,500	$1.67	4d	1	1.23mi
313 S Nectarine St Cornelius, OR	3.0	2.0	1114	$2,295	$2.06	22d	1	1.41mi

Listing history 8 events

1. 2026-06-22
   days on market $125,000 Active 10 DOM
2. 2026-06-21
   days on market $125,000 Active 9 DOM
3. 2026-06-18
   days on market $125,000 Active 6 DOM
4. 2026-06-17
   days on market $125,000 Active 5 DOM
5. 2026-06-16
   days on market $125,000 Active 4 DOM
6. 2026-06-15
   days on market $125,000 Active 3 DOM
7. 2026-06-13
   remarks 699-char remark
8. 2026-06-13
   listed $125,000 Active 1 DOM

ⓘ 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: $940 · $78/mo
• Projected year-2 tax: $1,212 · $101/mo
• Expected delta: +$272/yr (+$23/mo · 29.0%)

ⓘ 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 3/10 Moderate 7 d/yr ≥92°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 11 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,865
• − Mortgage interest: −$7,002
• − Property taxes: −$940
• − Insurance: −$625
• − Repairs & maintenance: −$1,429
• − Management: −$1,429
• − Depreciation: −$3,636
• Taxable income: $2,803
• Est. tax owed @ 24.0%: −$673
• After-tax cash flow: $4,009/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: Forest Grove SD 15
• NCES district ID: 4105160
• Math proficiency: 32% ▼ -4.00%
• Reading proficiency: 46% ▼ -4.00%
• Median HH income: $52,159
• Composite: 36.31/100
• National rank: #9395
• State rank: #111 of 183 in OR

Livability — Cornelius

• Score: 82/100
• State rank: #47
• US rank: #1193

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cornelius, OR
• Population (ZIP): 15,621

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Hispanic / Latino 47% White 46% Two or more races 13% Native American 4% Asian 2%
• Hispanic origin (detail): Mexican 42%
• Common ancestry: Iranian 3% Italian 2% Portuguese 2%
• Foreign-born: 24% · Canada, China, Vietnam
• Languages at home: 55% English-only · Spanish 42% Other Indo-European 1% Chinese 1%

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: ▼ -171.16%
• Current HPI: 285.7514
• Rent YoY: —
• Metro: —
• 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

+1006.2% since first listed

4 events — show timeline

• 2026-06-12 Listed $125,000 RMLS
• 2001-07-30 Sold (MLS) $4,850 RMLS
• 2001-03-06 Listed $4,850 RMLS
• 1972-05-01 Sold (Public Records) $11,300 Public Records

Property tax history

+14.5%/yr

Latest (2025): $940 · +2.7% YoY. Source: county tax records.