13900 SE Highway 212 #125 · Happy Valley, OR 97015

$99,900

3 bd · 2.0 ba · 1,440 sqft · Other · 133 Days on market

Built 1975 $69/sqft · at area comps Est $104k · at est.

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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
• ARV discount +9.4/15.0
• Livability +3.8/5.0
• Schools +3.2/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 3 bed, 2 bath, 1,440sft double wide manufactured home located at Riverbend mobile home park. This home offers a massive open concept layout perfect for entertaining, spacious bedrooms, large primary bedroom with full bath and over sized closets, laundry area w/separate entrance, 3+ car parking, tool shed & more. Recent upgrades include a brand new kitchen, new flooring, new paint, new bathroom vanities, newer windows and more. Space rent is $1,248 a month. Includes pool, management, gym, community room, basketball court and more.

Key facts

• New kitchen
• New flooring
• New paint

Tags

• OPEN CONCEPT LAYOUT
• NEW KITCHEN
• NEW FLOORING
• NEW PAINT
• NEW BATHROOM VANITIES
• NEWER WINDOWS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $100k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 21.3% vs local median 2.4% 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.
• North Clackamas SD 12 (suburban): math 29% / reading 43% proficiency, ranked #22 of 58 in OR (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Milwaukie El Puente Elementary School (math 34% / reading 15%, grade F, #309 of 412 statewide, top 77%, 418 students, 0% FRL); Rock Creek Middle School (math 19% / reading 44%, grade F, #82 of 128 statewide, top 64%, 902 students, 33% FRL); Clackamas High School (math 52% / reading 67%, grade C+, #23 of 143 statewide, top 19%, 1,224 students, 27% FRL).
• Market conditions: Rents rising (+2.5%/yr); 124 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 946 units permitted in Clackamas County in 2024 (188 in 5+ unit buildings).
• This rent runs 34% of the median local income ($87k/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 $691 of loan paydown is wiped out by about $3k 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 + 2.5% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 133 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.

Recommended offer $87,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 133 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 2.46% ✓
• Cap rate: 21.32%
• Cash-on-cash: 53.66%
• DSCR: 3.39
• GRM: 3.4

CMA / ARV

• ARV (median comp): $104,417
• List price: $99,900
• Delta: -4.33%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.48% rent growth · sell at horizon

5-year hold

• IRR: 51.2%
• Equity multiple: 3.23×
• Total profit: $62,239
• Equity at exit: $14,895

10-year hold

• IRR: 56.4%
• Equity multiple: 6.42×
• Total profit: $151,739
• Equity at exit: $8,638

Cash invested: $27,972 (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 97015

• Rents YoY: 2.5%
• Active inventory: 124
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $2,457 high
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,498/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$516
• Net cashflow: $1,251

Break-even live

Break-even rent $874

Max offer price $99,900

Occupancy floor 44%

Sensitivity live

Price	-10% $1,320	-5% $1,285	+0% $1,251	+5% $1,216	+10% $1,182
Rent	-10% $1,057	-5% $1,154	+0% $1,251	+5% $1,348	+10% $1,445
Rate	-1.0pp $1,301	-0.5pp $1,276	base $1,251	+0.5pp $1,225	+1.0pp $1,199

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13300 SE Hubbard Rd Clackamas, OR	3.0	1.0–2.0	818	$2,290	$2.80	4d	6	0.48mi
13640 SE Madena Way Clackamas, OR	3.0	2.5	1697	$2,995	$1.76	0d	1	0.62mi
12301 SE Hubbard Rd Clackamas, OR	2.0–3.0	1.0–2.0	936	$2,063	$2.20	12d	4	0.89mi
13898 SE Rogers Ln Clackamas, OR	3.0	2.0	1488	$2,599	$1.75	45d	1	0.92mi
14439 SE Oregon Trail Dr Clackamas, OR	3.0	2.0	1650	$2,615	$1.58	3d	1	0.95mi
14095 SE Summerfield Loop Happy Valley, OR	3.0	2.5	1453	$2,695	$1.85	45d	1	1.14mi
14712 SE Misty Dr Happy Valley, OR	2.0	1.0–2.0	955	$1,988	$2.08	0d	13	1.20mi
14194 SE Summerfield Loop Happy Valley, OR	3.0	2.5	1125	$2,250	$2.00	26d	1	1.27mi
14154 SE Summerfield Loop Unit 14194 Happy Valley, OR	3.0	2.5	1125	$2,250	$2.00	26d	1	1.27mi
13120 SE 128th Ave Happy Valley, OR	3.0	2.5	1861	$2,900	$1.56	45d	1	1.40mi
13300 SE 122nd Ave Clackamas, OR	1.0–3.0	1.0–2.0	975	$2,124	$2.18	0d	6	1.46mi
13702 SE 162nd Ave Happy Valley, OR	2.0	2.0	965	$2,157	$2.24	0d	2	1.48mi

Listing history 14 events

1. 2026-06-18
   days on market $99,900 Active 133 DOM
2. 2026-06-17
   days on market $99,900 Active 132 DOM
3. 2026-06-16
   days on market $99,900 Active 131 DOM
4. 2026-06-15
   days on market $99,900 Active 130 DOM
5. 2026-06-13
   days on market $99,900 Active 128 DOM
6. 2026-06-09
   days on market $99,900 Active 124 DOM
7. 2026-06-08
   days on market $99,900 Active 123 DOM
8. 2026-06-07
   days on market $99,900 Active 122 DOM
9. 2026-06-05
   days on market $99,900 Active 119 DOM
10. 2026-06-03
    days on market $99,900 Active 118 DOM
11. 2026-06-02
    days on market $99,900 Active 117 DOM
12. 2026-06-01
    days on market $99,900 Active 116 DOM
13. 2026-05-31
    days on market $99,900 Active 115 DOM
14. 2025-06-18
    listed $99,900 Active 550-char remark

    Show marketing remark (550 chars)

    Spacious 3 bed, 2 bath, 1,440sft double wide manufactured home located at Riverbend mobile home park. This home offers a massive open concept layout perfect for entertaining, spacious bedrooms, large primary bedroom with full bath and over sized closets, laundry area w/separate entrance, 3+ car parking, tool shed & more. Recent upgrades include a brand new kitchen, new flooring, new paint, new bathroom vanities, newer windows and more. Space rent is $1,248 a month. Includes pool, management, gym, community room, basketball court and more.

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 14 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,487
• − Mortgage interest: −$5,596
• − Property taxes: −$1,498
• − Insurance: −$500
• − Repairs & maintenance: −$2,359
• − Management: −$2,359
• − Depreciation: −$2,906
• Taxable income: $14,269
• Est. tax owed @ 24.0%: −$3,425
• After-tax cash flow: $11,586/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: North Clackamas SD 12
• NCES district ID: 4108830
• Math proficiency: 29% ▼ -14.00%
• Reading proficiency: 43% ▼ -13.00%
• Median HH income: $60,217
• Composite: 32.1/100
• National rank: #5807
• State rank: #22 of 58 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

• County: Clackamas County · 361,406 people
• City population: 34,567
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 24,433
• Household income: $87,333
• Rent vs Own: 36.0% rent · 64.0% own
• Severe rent burden: 1166.0

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: Predominantly White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 15% Two or more races 12% Asian 11% Black 2%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Italian 4% Scotch-Irish 4% Lithuanian 3%
• Foreign-born: 15% · Canada, China, Vietnam
• Languages at home: 74% English-only · Spanish 11% Chinese 5% Russian/Polish/Slavic 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: ▼ -170.50%
• Current HPI: 295.7295
• Rent YoY: ▲ 2.48%
• 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

• 2025-06-18 Listed $99,900 RMLS

Property tax history

-14.1%/yr

Latest (2018): $63 · -27.7% YoY. Source: county tax records.