2742 NE 201st Ave #7 · Gresham, OR 97024

$110,000

3 bd · 2.0 ba · 1,404 sqft · Manufactured public records · 26 Days on market

Built 1999 Est $101k · 9% over

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• ARV discount +3.5/15.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Affordable living with affordable space rent! Move in ready 3-bedroom 2bath home in cul-de-sac with air conditioning. Covered parking with storage shed. Primary suite has walk-in closet & full bathroom with oversized soaking tub/shower combo. Home is in good shape and ready for you. Accessibility ramp on 1-side of home if needed. Ramp can be removed by seller if not desired.

Key facts

• Air conditioning
• Covered parking
• Walk-in closet

Tags

• CUL-DE-SAC
• AIR CONDITIONING
• COVERED PARKING
• STORAGE SHED
• WALK-IN CLOSET
• FULL BATHROOM

Property features AI

Finance

• Other: Property condition: resale; Main level area approximately 1,404; Lot size range: 0–2,999 sq ft; View: territorial
• HOA & community: Not a senior community; Lot rent $900 monthly

Exterior

• Parking: Covered carport (1 covered parking space, total 1)
• Utilities: Electricity for fuel and hot water; Public water; Public sewer
• Home design: Manufactured home in a park (residential, not attached); One-level living; Territorial view; Built in 1999
• Construction: Composition roof; T-111 siding; Built in 1999; Crawl space foundation
• Exterior features: Yard; Level lot; Paved road access; T-111 siding

Interior

• Kitchen: Dishwasher; Free-standing range
• Bedrooms: Primary bedroom on main level with suite and walk-in closet; Second bedroom on main level with double closet; Third bedroom on main level
• Flooring: Wall-to-wall carpet
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Wall-to-wall carpet; Vinyl window frames; Crawl space basement; Accessible design with minimal steps and pathways
• Laundry & utility: Utility room on main level; Electric tank hot water

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $110k.

Deal economics

• At list price, monthly cash flow is $871 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.
• Cap rate 15.8% vs local median 2.8% in Gresham — 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 81/100 on livability (#51 in OR, #1,537 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: cost of living D, crime D-.
• Reynolds SD 7 (suburban): math 21% / reading 36% proficiency, ranked #162 of 183 in OR (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Salish Ponds Elementary School (314 students, 99% FRL); Reynolds Middle School (837 students, 98% FRL); Reynolds High School (2,474 students, 67% FRL) — zoned schools average 88% FRL vs 66% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-1.0%/yr); 53 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 2,041 units permitted in Multnomah County in 2024 (905 in 5+ unit buildings).
• This rent runs 34% of the median local income ($70k/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 $761 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 + 0.0% rent growth), your $31k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.

Recommended offer $108,350 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.79% ✓
• Cap rate: 15.79%
• Cash-on-cash: 33.92%
• DSCR: 2.51
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $101,088
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2500 NE 201st Ave #26	0.14mi	3/2.0	1,404 (0%)	2mo	$67,000	$48	92
2632 NE 201st Ave #30	0.09mi	3/2.0	1,404 (0%)	13mo	$120,000	$85	85
2600 NE 205th Ave #20	0.23mi	3/2.0	1,456 (+4%)	8mo	$164,518	$113	77
20140 NE Sandy Blvd	0.08mi	4/2.0 (+1)	1,552 (+10%)	11mo	$164,000	$106	64
20140 NE Sandy Blvd #24	0.13mi	4/2.0 (+1)	1,552 (+10%)	11mo	$164,000	$106	62
3150 NE 206th Pl	0.37mi	3/2.0	1,533 (+9%)	9mo	$355,000	$232	60
21100 NE Sandy Blvd #79	0.62mi	3/2.0	1,432 (+2%)	10mo	$83,000	$58	59
21100 NE Sandy Blvd #127	0.52mi	2/2.0 (-1)	1,344 (-4%)	13mo	$84,500	$63	53
21100 NE Sandy Blvd #59	0.59mi	3/2.0	1,584 (+13%)	5mo	$89,900	$57	47
21100 NE Sandy Blvd #39	0.58mi	2/2.0 (-1)	1,224 (-13%)	2mo	$75,000	$61	45
21100 NE Sandy Blvd #2	0.50mi	2/2.0 (-1)	1,236 (-12%)	10mo	$49,000	$40	44
21100 NE Sandy Blvd	0.57mi	2/2.0 (-1)	1,248 (-11%)	11mo	$90,000	$72	41

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: 26.0%
• Equity multiple: 2.03×
• Total profit: $31,837
• Equity at exit: $16,401

10-year hold

• IRR: 31.8%
• Equity multiple: 3.49×
• Total profit: $76,762
• Equity at exit: $9,511

Cash invested: $30,800 (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 97024

• Home prices YoY: -20.3%
• Rents YoY: -1.0%
• Active inventory: 53
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,968 high
• Mortgage (P&I): −$577
• Tax from tax record: −$61 /mo · $737/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$413
• Net cashflow: $871

Break-even live

Break-even rent $866

Max offer price $110,000

Occupancy floor 51%

Sensitivity live

Price	-10% $933	-5% $902	+0% $871	+5% $839	+10% $808
Rent	-10% $715	-5% $793	+0% $871	+5% $948	+10% $1,026
Rate	-1.0pp $926	-0.5pp $899	base $871	+0.5pp $842	+1.0pp $813

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2667 NE 205th Ave Fairview, OR	3.0	2.0	1115	$1,950	$1.75	24d	1	0.19mi
20454 NE Sandy Blvd Fairview, OR	2.0	2.0	950	$1,450	$1.53	3d	4	0.19mi
20454 NE Sandy Blvd Apt B26 Fairview, OR	2.0	2.0	950	$1,722	$1.81	21d	7	0.22mi
3794 NE Fairview Lake Way Fairview, OR	3.0	2.0	1611	$2,795	$1.73	22d	1	0.38mi
20347 NE Halsey St Fairview, OR	2.0	2.0	985	$1,614	$1.64	4d	2	0.58mi
21123 NE Osburn Loop Unit 21123 Fairview, OR	3.0	2.5	1586	$2,595	$1.64	5d	1	0.63mi
19849 NE Halsey St Unit 110 Portland, OR	3.0	2.0	895	$1,870	$2.09	18d	1	0.63mi
19927 NE Halsey St Unit 103 Portland, OR	3.0	2.5	1225	$1,895	$1.55	44d	1	0.64mi
19511 NE Halsey St Portland, OR	2.0	1.0	917	$1,395	$1.52	4d	1	0.68mi
22199 NE Sandy Blvd Fairview, OR	2.0	1.0–2.0	707	$2,200	$3.11	3d	27	0.97mi
609 Lincoln St Unit 609 Fairview, OR	3.0	2.5	1100	$2,250	$2.05	44d	1	0.98mi
320 Lincoln St Fairview, OR	2.0	1.0	950	$1,395	$1.47	44d	1	1.12mi
1497 NE Market Dr Fairview, OR	2.0	2.0	1136	$1,750	$1.54	44d	1	1.13mi
22100 NE Halsey St Fairview, OR	1.0–3.0	1.0–2.0	1003	$2,395	$2.39	3d	10	1.14mi
21933 NE Chinook Way Fairview, OR	1.0–3.0	1.0–2.5	874	$2,315	$2.65	2d	8	1.14mi
22025 NE Halsey St Fairview, OR	1.0–2.0	1.0–2.0	841	$1,795	$2.13	11d	1	1.18mi
22032 NE Chinook Way Apt A Fairview, OR	2.0	2.5	1150	$1,995	$1.73	44d	1	1.24mi
22032 NE Chinook Way Unit B Fairview, OR	2.0	2.5	1150	$2,045	$1.78	8d	1	1.24mi
1210 NE 181st Ave Portland, OR	2.0	1.5	945	$1,250	$1.32	44d	1	1.25mi
1136 NE 181st Ave Portland, OR	1.0–2.0	1.0	762	$1,475	$1.93	8d	2	1.28mi
17838 NE Multnomah Dr Unit 16 Portland, OR	2.0	1.0	950	$1,200	$1.26	5d	1	1.31mi
22620 NE Hancock St Fairview, OR	2.0	2.0	1196	$1,995	$1.67	22d	1	1.33mi
22701 NE Halsey St Unit FO222 Fairview, OR	2.0	2.0	965	$1,511	$1.57	44d	1	1.43mi
22701 NE Halsey St Unit FO1101 Fairview, OR	2.0	2.0	965	$1,511	$1.57	24d	1	1.43mi
17420 NE Halsey St Portland, OR	2.0	1.5	1250	$1,699	$1.36	8d	1	1.46mi
18641 NE Everett Ct Portland, OR	4.0	1.0	1450	$2,500	$1.72	17d	1	1.47mi

Listing history 14 events

1. 2026-06-18
   status $110,000 Pending 26 DOM
2. 2026-06-17
   days on market $110,000 Active 26 DOM
3. 2026-06-16
   days on market $110,000 Active 25 DOM
4. 2026-06-15
   pricedays on market $110,000 Active 24 DOM
5. 2026-06-13
   days on market $115,000 Active 22 DOM
6. 2026-06-13
   days on market $115,000 Active 21 DOM
7. 2026-06-09
   days on market $115,000 Active 18 DOM
8. 2026-06-08
   days on market $115,000 Active 17 DOM
9. 2026-06-07
   days on market $115,000 Active 16 DOM
10. 2026-06-03
    days on market $115,000 Active 12 DOM
11. 2026-06-02
    days on market $115,000 Active 11 DOM
12. 2026-06-01
    days on market $115,000 Active 10 DOM
13. 2026-05-31
    days on market $115,000 Active 9 DOM
14. 2026-05-22
    listed $115,000 Active

ⓘ 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: $737 · $61/mo
• Projected year-2 tax: $1,067 · $89/mo
• Expected delta: +$330/yr (+$28/mo · 44.8%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 15 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: $23,615
• − Mortgage interest: −$6,162
• − Property taxes: −$737
• − Insurance: −$550
• − Repairs & maintenance: −$1,889
• − Management: −$1,889
• − Depreciation: −$3,200
• Taxable income: $9,188
• Est. tax owed @ 24.0%: −$2,205
• After-tax cash flow: $8,242/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: Reynolds SD 7
• NCES district ID: 4110520
• Math proficiency: 21% ▬ 0.00%
• Reading proficiency: 36% ▬ 0.00%
• Median HH income: $45,502
• Composite: 27.4/100
• National rank: #12399
• State rank: #162 of 183 in OR

Livability — Gresham

• Score: 81/100
• State rank: #51
• US rank: #1537

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gresham, OR
• County: Multnomah County · 786,692 people
• City population: 86,119
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 12,007
• Household income: $69,679
• Rent vs Own: 53.9% rent · 46.1% own
• Severe rent burden: 552.0

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 0.68)
• Race & ethnicity: White 48% Hispanic / Latino 27% Two or more races 15% Black 12% Pacific Islander 3% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 24%
• Common ancestry: Portuguese 3% Italian 3% Lithuanian 3%
• Foreign-born: 16% · Canada, Guatemala, Vietnam
• Languages at home: 69% English-only · Spanish 23% Other Asian/Pacific 3% Russian/Polish/Slavic 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: ▼ -72.88%
• Current HPI: 286.4915
• Rent YoY: ▼ -0.99%
• 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

1 event — show timeline

• 2026-05-22 Listed $115,000 RMLS

Property tax history

+0.7%/yr

Latest (2025): $737 · +9.9% YoY. Source: county tax records.