16745 SE Division St #282 · Portland, OR 97236

$40,000

2 bd · 2.0 ba · 720 sqft · Manufactured public records · 9 Days on market

Built 1968 Est $50k · 21% under ↓ 38% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Schools +3.5/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come make this home your own. With a newer metal roof, newer windows and newer heat pump - the rest is up to you! Tucked away in the back of the park in a cul de sac, you can relax on one of your two decks or enjoy entertaining in your spacious living room open to the kitchen.

Key facts

• Carport
• Covered patio
• Private yard

Tags

• NEWER METAL ROOF
• UPDATED ELECTRICAL SYSTEM
• NEWER HEAT PUMP
• COVERED PATIO
• PRIVATE YARD
• CARPORT

Property features AI

Finance

• Other: Located in a manufactured home park (Mobile Estates, Space 282)
• Financial info: Monthly lot rent of $995; Land lease expires December 31, 2050
• HOA & community: Community amenities include commons, exterior maintenance, management, pool, and road maintenance; Land lease in place (monthly lot rent)

Exterior

• Parking: Carport; Driveway
• Utilities: Public water; Public sewer; Electric service
• Home design: Manufactured home in park; Single-story (main level entry); No notable view
• Construction: Built in 1968; Skirting foundation; Metal roof
• Exterior features: Covered deck; Covered patio; Yard; Vinyl siding

Interior

• Kitchen: Free-standing range
• Bedrooms: Primary bedroom (main level) with closet; Second bedroom (main level) with closet
• Flooring: Vinyl
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Heat pump for heating and cooling; Electric hot water
• Interior features: Laundry area; Vinyl flooring; Crawl space basement
• Laundry & utility: Laundry (in-unit)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $40k.

Deal economics

• At list price, monthly cash flow is $754 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Cap rate 28.9% 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.
• 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.
• Zoned schools: Patrick Lynch Elementary (336 students, 70% FRL); Centennial Middle School (876 students, 68% FRL); Centennial High School (1,756 students, 65% FRL).
• Market conditions: Rents rising (+1.6%/yr); 207 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $277 of loan paydown is wiped out by about $1k 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 $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y 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 $27k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $40,000

Questions for the listing agent

1. Built in 1968 — 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. 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?
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: 3.26% ✓
• Cap rate: 28.91%
• Cash-on-cash: 80.78%
• DSCR: 4.59
• GRM: 2.6

CMA / ARV

• ARV (on-the-fly): $50,400
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16901 SE Division St #43	0.05mi	2/1.0	756 (+5%)	5mo	$85,000	$112	81
16901 SE Division St #74	0.05mi	1/1.0 (-1)	688 (-4%)	2mo	$29,500	$43	79
16901 SE Division St #60	0.05mi	2/1.0	768 (+7%)	8mo	$63,000	$82	76
16901 SE Division St #119	0.06mi	2/1.0	800 (+11%)	2mo	$38,500	$48	73
16901 SE Division St #34	0.06mi	2/1.0	750 (+4%)	19mo	$44,500	$59	70
16901 SE Division St #56	0.05mi	1/1.0 (-1)	640 (-11%)	1mo	$45,000	$70	69
16745 SE Division St #287	0.00mi	2/1.0	800 (+11%)	11mo	$59,900	$75	69
16901 SE Division St	0.06mi	1/1.0 (-1)	640 (-11%)	1mo	$45,000	$70	68
16901 SE Division St #48	0.05mi	2/1.0	784 (+9%)	16mo	$50,000	$64	65
16745 SE Division St	0.07mi	2/1.0	672 (-7%)	22mo	$35,000	$52	63

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: 79.4%
• Equity multiple: 4.55×
• Total profit: $39,795
• Equity at exit: $5,964

10-year hold

• IRR: 82.6%
• Equity multiple: 8.99×
• Total profit: $89,534
• Equity at exit: $3,458

Cash invested: $11,200 (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: 207
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,304 high
• Mortgage (P&I): −$210
• Tax est. 1.5%: −$50 /mo · $600/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $754

Break-even live

Break-even rent $350

Max offer price $40,000

Occupancy floor 37%

Sensitivity live

Price	-10% $782	-5% $768	+0% $754	+5% $740	+10% $726
Rent	-10% $651	-5% $702	+0% $754	+5% $805	+10% $857
Rate	-1.0pp $774	-0.5pp $764	base $754	+0.5pp $744	+1.0pp $733

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16804 SE Division St Unit 3 Portland, OR	1.0	1.0	475	$1,200	$2.53	5d	1	0.20mi
2675 SE 162nd Ave Portland, OR	1.0–2.0	1.0	689	$1,495	$2.17	13d	1	0.42mi
17726 SE Division St Portland, OR	1.0–2.0	1.0–1.5	788	$1,575	$2.00	12d	3	0.57mi
17924 SE Division St Portland, OR	2.0–3.0	1.0	770	$1,349	$1.75	45d	3	0.65mi
15301-15353 SE Division St Unit 15335 Portland, OR	1.0	1.0	600	$1,150	$1.92	25d	1	0.72mi
16124 SE Alder St Apt 4 Portland, OR	1.0	1.0	750	$1,100	$1.47	45d	1	0.76mi
16124 SE Alder St Unit 19-B Portland, OR	1.0	1.0	500	$1,050	$2.10	25d	1	0.76mi
650 SE 162nd Ave Portland, OR	1.0–2.0	1.0	745	$1,349	$1.81	3d	9	0.79mi
17455 SE Washington Ct Portland, OR	1.0	1.0	681	$1,295	$1.90	9d	2	0.83mi
14992 SE Division St Unit 1 Bedroom Portland, OR	1.0	1.0	543	$999	$1.84	45d	1	0.93mi
14992 SE Division St Portland, OR	1.0–3.0	1.0	726	$1,174	$1.62	17d	3	0.93mi
16025 SE Stark St Portland, OR	1.0	1.0	629	$1,034	$1.64	45d	1	0.94mi
15847 SE Stark St Portland, OR	1.0–2.0	1.0	750	$1,295	$1.73	45d	4	0.97mi
17920 SE Stark St Unit 4 Portland, OR	1.0	1.0	560	$1,150	$2.05	45d	1	1.01mi
635 SE 182nd Ave Unit 669 Portland, OR	1.0	1.0	600	$1,150	$1.92	25d	1	1.05mi
16503 E Burnside St Portland, OR	1.0–3.0	1.0	797	$1,195	$1.50	45d	1	1.06mi
15340 SE Stark St Unit 15370 Portland, OR	1.0	1.0	550	$1,200	$2.18	45d	1	1.07mi
17528 E Burnside St Portland, OR	2.0	1.0–1.5	655	$1,749	$2.67	17d	5	1.09mi
17376 NE Couch St Portland, OR	1.0	1.0	724	$1,150	$1.59	45d	1	1.11mi
10 NE 162nd Ave Portland, OR	1.0–2.0	1.0	950	$1,325	$1.39	12d	5	1.11mi
123 NE 172nd Ave Portland, OR	1.0	1.0	600	$1,095	$1.82	45d	1	1.11mi
783 SE 185th Ave Portland, OR	1.0–3.0	1.0–2.0	861	$1,634	$1.90	3d	10	1.11mi
17442 SE Powell Blvd Portland, OR	2.0	1.0	729	$1,075	$1.47	11d	1	1.12mi
17450 SE Powell Blvd Portland, OR	2.0	1.0	729	$1,075	$1.47	21d	1	1.12mi
17468 SE Powell Blvd Portland, OR	2.0	1.0	729	$1,075	$1.47	21d	1	1.12mi
2629 SE 145th Ave Portland, OR	1.0	1.0	700	$1,150	$1.64	45d	1	1.14mi
16047 E Burnside St Unit 16 Portland, OR	1.0	1.0	750	$1,200	$1.60	5d	1	1.14mi
2633 SE 145th Ave Portland, OR	1.0	1.0	675	$1,150	$1.70	45d	1	1.16mi
2609 SE 145th Ave Unit E-39 Portland, OR	2.0	1.0	750	$1,299	$1.73	45d	1	1.22mi
2609 SE 145th Ave Unit F-51 Portland, OR	1.0	1.0	642	$1,222	$1.90	13d	1	1.22mi
2609 SE 145th Ave Unit D-27 Portland, OR	1.0	1.0	642	$1,099	$1.71	13d	1	1.22mi
2609 SE 145th Ave Unit A-09 Portland, OR	2.0	1.0	750	$1,299	$1.73	25d	1	1.22mi
878 SE 187th Ave Unit 131 Portland, OR	1.0	1.0	435	$1,175	$2.70	15d	1	1.22mi
878 SE 187th Ave Unit 107 Portland, OR	1.0	1.0	435	$1,100	$2.53	45d	1	1.22mi
15075 SE Stark St Unit 214 Portland, OR	1.0	1.0	597	$1,095	$1.83	45d	1	1.22mi
746 SE 187th Ave Unit 101 Portland, OR	1.0	1.0	500	$1,195	$2.39	45d	1	1.22mi
17925 E Burnside St Unit 105 Portland, OR	1.0	1.0	640	$1,300	$2.03	45d	1	1.26mi
9700 NE Everett Ct Portland, OR	1.0	1.0	494	$1,250	$2.53	4d	4	1.27mi
125 SE 151st Ave Unit 105 Portland, OR	1.0	1.0	518	$1,095	$2.11	4d	1	1.31mi
18245 E Burnside St Unit 111 Portland, OR	2.0	1.0	750	$1,395	$1.86	17d	1	1.31mi

Listing history 7 events

1. 2026-06-21
   days on market $40,000 Active 9 DOM
2. 2026-06-18
   days on market $40,000 Active 6 DOM
3. 2026-06-17
   days on market $40,000 Active 5 DOM
4. 2026-06-16
   days on market $40,000 Active 4 DOM
5. 2026-06-15
   days on market $40,000 Active 3 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $40,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°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: $15,651
• − Mortgage interest: −$2,241
• − Property taxes: −$600
• − Insurance: −$200
• − Repairs & maintenance: −$1,252
• − Management: −$1,252
• − Depreciation: −$1,164
• Taxable income: $8,943
• Est. tax owed @ 24.0%: −$2,146
• After-tax cash flow: $6,901/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 — 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

-38.5% since first listed

8 events — show timeline

• 2026-06-11 Listed $40,000 RMLS
• 2024-10-02 Sold (MLS) $27,000 RMLS
• 2024-09-18 Pending — RMLS
• 2024-09-02 Price Changed $30,000 RMLS
• 2024-06-28 Price Changed $40,000 RMLS
• 2024-06-09 Price Changed $48,500 RMLS
• 2024-04-24 Price Changed $55,000 RMLS
• 2024-03-21 Listed $65,000 RMLS

Property tax history

-42.0%/yr

Latest (2015): $6 · +0.0% YoY. Source: county tax records.