13115 SE Foster Rd #32 · Portland, OR 97236

$99,000

3 bd · 2.0 ba · 1,624 sqft · Manufactured public records · 124 Days on market

Built 1989 $61/sqft · 19% below area Est $118k · 16% under ↓ 23% 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 +14.7/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for room to roam? Look no more. This spacious and beautifully maintained 3-bedroom, 2-bath home offers comfort, storage, and functionality in a wonderful family-friendly community. The sprawling kitchen is truly the heart of the home, featuring an abundance of cabinetry, an expansive layout, a skylight that fills the space with natural light, and a huge walk-in pantry. Enjoy casual meals in the breakfast nook or host gatherings in the formal dining room. The large living room provides plenty of space to relax or entertain and includes a cozy pellet stove that serves as a secondary heat source. All three bedrooms feature walk-in closets, offering exceptional storage throughout. The primary suite includes a generously sized en suite bath, creating a comfortable private retreat. The second bedroom offers direct access to the large deck through a sliding glass door, perfect for morning coffee or enjoying the outdoors. Outside, you’ll appreciate the fully fenced yard, easy-care vinyl siding, a huge shed/shop for projects or extra storage, and even your own greenhouse for year-round gardening. Major updates have already been completed, including a new roof and windows in 2015 and a new heat pump installed in 2023. Located in a great community close to shopping, freeway access, and public transit just steps away, this home offers the space, updates, and convenience today’s buyers are looking for.

Key facts

• Breakfast nook
• Cozy pellet stove
• Formal dining room

Tags

• SPRAWLING KITCHEN
• HUGE WALK-IN PANTRY
• BREAKFAST NOOK
• FORMAL DINING ROOM
• COZY PELLET STOVE
• WALK-IN CLOSETS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $99k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $87k (12.0% below list) — sets the bar for market timing.
• Cap rate 20.8% 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.
• David Douglas SD 40 (urban): math 34% / reading 49% proficiency, ranked #99 of 183 in OR (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Gilbert Park Elementary School (462 students, 76% FRL); Alice Ott Middle School (582 students, 77% FRL); David Douglas High School (2,698 students, 73% FRL).
• Market conditions: Rents rising (+1.6%/yr); 207 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,041 units permitted in Multnomah County in 2024 (905 in 5+ unit buildings).
• This rent runs 36% of the median local income ($75k/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 $684 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 + 1.6% 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 124 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.

Recommended offer $87,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 124 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. 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?
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: 2.27% ✓
• Cap rate: 20.83%
• Cash-on-cash: 51.91%
• DSCR: 3.31
• GRM: 3.7

CMA / ARV

• ARV (median comp): $118,000
• List price: $99,000
• Delta: -16.10%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13443 SE Pardee Dr #3	0.74mi	3/2.0	1,620 (-0%)	2mo	$142,000	$88	64
13115 SE Foster Rd #13	0.00mi	4/2.0 (+1)	1,848 (+14%)	11mo	$100,000	$54	63
13115 SE Foster Rd #12	0.06mi	3/2.0	1,848 (+14%)	18mo	$98,000	$53	59
13460 SE Raymond St	0.59mi	4/2.0 (+1)	1,568 (-3%)	4mo	$129,000	$82	58
5029 SE 133rd Dr #058	0.55mi	3/2.0	1,620 (-0%)	23mo	$138,000	$85	55
5200 SE 132nd Ave	0.49mi	3/2.0	1,404 (-14%)	4mo	$90,000	$64	51
4656 SE 134th Dr	0.73mi	3/2.0	1,568 (-3%)	13mo	$116,000	$74	49

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: 48.3%
• Equity multiple: 3.07×
• Total profit: $57,260
• Equity at exit: $14,761

10-year hold

• IRR: 53.4%
• Equity multiple: 5.90×
• Total profit: $135,942
• Equity at exit: $8,560

Cash invested: $27,720 (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: 3.7×

Monthly cashflow live

• Estimated rent: $2,252 high
• Mortgage (P&I): −$519
• Tax from tax record: −$19 /mo · $233/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$473
• Net cashflow: $1,199

Break-even live

Break-even rent $734

Max offer price $99,000

Occupancy floor 42%

Sensitivity live

Price	-10% $1,255	-5% $1,227	+0% $1,199	+5% $1,171	+10% $1,143
Rent	-10% $1,021	-5% $1,110	+0% $1,199	+5% $1,288	+10% $1,377
Rate	-1.0pp $1,249	-0.5pp $1,224	base $1,199	+0.5pp $1,173	+1.0pp $1,147

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12941 SE Foster Rd Portland, OR	1.0–3.0	1.0–2.0	1000	$1,825	$1.82	0d	3	0.07mi
12923 SE Foster Rd Portland, OR	2.0–3.0	2.0	1037	$2,100	$2.03	16d	3	0.11mi
6130 SE 128th Ave Apt B Portland, OR	3.0	2.0	1500	$1,999	$1.33	9d	1	0.15mi
12200 SE Ramona St Portland, OR	3.0–4.0	2.0–2.5	1435	$2,300	$1.60	0d	3	0.39mi
13726 SE Reedway St Portland, OR	3.0	2.5	1817	$2,295	$1.26	45d	1	0.40mi
6416 SE 139th Ave Portland, OR	3.0	2.0	1200	$2,395	$2.00	0d	1	0.42mi
5329 SE 137th Ave Portland, OR	3.0	2.5	1559	$2,250	$1.44	25d	1	0.53mi
5344 SE 137th Ave Portland, OR	3.0	2.5	1600	$2,395	$1.50	19d	1	0.56mi
11908 SE Foster Rd Portland, OR	3.0	2.0	1300	$2,595	$2.00	45d	1	0.57mi
12086 SE Harold St Portland, OR	3.0	2.5	1425	$2,595	$1.82	0d	1	0.58mi
5524 SE 140th Pl Portland, OR	4.0	3.0	1584	$3,050	$1.93	19d	1	0.61mi
6439 SE 143rd Ct #1 Portland, OR	3.0	2.5	1545	$2,395	$1.55	45d	1	0.64mi
7148 SE 118th Dr Portland, OR	2.0	1.0	1400	$3,900	$2.79	45d	1	0.71mi
4904 SE 122nd Ave Portland, OR	3.0	3.0	1504	$4,400	$2.93	45d	1	0.72mi
13515 SE Holgate Blvd Portland, OR	3.0	2.0	2160	$2,495	$1.16	45d	1	0.81mi
15110 SE Evergreen Dr Portland, OR	4.0	2.0	1650	$3,400	$2.06	13d	1	1.11mi
3883 SE 136th Ave Portland, OR	4.0	2.5	1660	$2,400	$1.45	45d	1	1.13mi
3745-3749 SE 127th Pl Unit 3749 Portland, OR	3.0	2.5	1467	$2,195	$1.50	9d	1	1.18mi
13436 SE Bush St Portland, OR	2.0–3.0	1.5–2.0	1075	$1,995	$1.86	45d	1	1.19mi
5010 SE 108th Ave Portland, OR	3.0	2.0	1400	$2,350	$1.68	45d	1	1.25mi
15210 SE Flavel St Portland, OR	3.0	2.5	2209	$3,095	$1.40	23d	1	1.27mi
3810 SE 117th Pl Portland, OR	3.0	2.5	1378	$2,445	$1.77	25d	1	1.28mi
13066 SE Powell Blvd Unit 10 Portland, OR	2.0	2.0	1100	$1,550	$1.41	25d	1	1.30mi
12550 SE Powell Blvd Portland, OR	1.0–3.0	1.0–2.0	1075	$2,300	$2.14	4d	2	1.33mi
13062 SE Powell Blvd Apt 6 Portland, OR	2.0	2.0	1100	$1,550	$1.41	45d	1	1.33mi
3315 SE 127th Pl Unit 1 Portland, OR	2.0	1.0	1346	$1,595	$1.18	13d	1	1.40mi
3228 SE 136th Ave Portland, OR	2.0–3.0	1.5	1058	$1,597	$1.51	6d	4	1.48mi
3208 SE 136th Ave Unit 3 Portland, OR	3.0	1.5	1217	$1,597	$1.31	25d	1	1.49mi

Listing history 18 events

1. 2026-06-19
   status $99,000 Pending 124 DOM
2. 2026-06-18
   days on market $99,000 Active 124 DOM
3. 2026-06-17
   days on market $99,000 Active 123 DOM
4. 2026-06-16
   days on market $99,000 Active 122 DOM
5. 2026-06-15
   days on market $99,000 Active 121 DOM
6. 2026-06-13
   days on market $99,000 Active 119 DOM
7. 2026-06-09
   days on market $99,000 Active 115 DOM
8. 2026-06-08
   days on market $99,000 Active 114 DOM
9. 2026-06-07
   days on market $99,000 Active 113 DOM
10. 2026-06-05
    days on market $99,000 Active 110 DOM
11. 2026-06-03
    days on market $99,000 Active 109 DOM
12. 2026-06-02
    days on market $99,000 Active 108 DOM
13. 2026-06-01
    days on market $99,000 Active 107 DOM
14. 2026-05-31
    days on market $99,000 Active 106 DOM
15. 2026-04-27
    price $99,000 1436-char remark

    Show marketing remark (1436 chars)

    Looking for room to roam? Look no more. This spacious and beautifully maintained 3-bedroom, 2-bath home offers comfort, storage, and functionality in a wonderful family-friendly community. The sprawling kitchen is truly the heart of the home, featuring an abundance of cabinetry, an expansive layout, a skylight that fills the space with natural light, and a huge walk-in pantry. Enjoy casual meals in the breakfast nook or host gatherings in the formal dining room. The large living room provides plenty of space to relax or entertain and includes a cozy pellet stove that serves as a secondary heat source. All three bedrooms feature walk-in closets, offering exceptional storage throughout. The primary suite includes a generously sized en suite bath, creating a comfortable private retreat. The second bedroom offers direct access to the large deck through a sliding glass door, perfect for morning coffee or enjoying the outdoors. Outside, you’ll appreciate the fully fenced yard, easy-care vinyl siding, a huge shed/shop for projects or extra storage, and even your own greenhouse for year-round gardening. Major updates have already been completed, including a new roof and windows in 2015 and a new heat pump installed in 2023. Located in a great community close to shopping, freeway access, and public transit just steps away, this home offers the space, updates, and convenience today’s buyers are looking for.

16. 2026-04-14
    price $111,000 1436-char remark

    Show marketing remark (1436 chars)

    Looking for room to roam? Look no more. This spacious and beautifully maintained 3-bedroom, 2-bath home offers comfort, storage, and functionality in a wonderful family-friendly community. The sprawling kitchen is truly the heart of the home, featuring an abundance of cabinetry, an expansive layout, a skylight that fills the space with natural light, and a huge walk-in pantry. Enjoy casual meals in the breakfast nook or host gatherings in the formal dining room. The large living room provides plenty of space to relax or entertain and includes a cozy pellet stove that serves as a secondary heat source. All three bedrooms feature walk-in closets, offering exceptional storage throughout. The primary suite includes a generously sized en suite bath, creating a comfortable private retreat. The second bedroom offers direct access to the large deck through a sliding glass door, perfect for morning coffee or enjoying the outdoors. Outside, you’ll appreciate the fully fenced yard, easy-care vinyl siding, a huge shed/shop for projects or extra storage, and even your own greenhouse for year-round gardening. Major updates have already been completed, including a new roof and windows in 2015 and a new heat pump installed in 2023. Located in a great community close to shopping, freeway access, and public transit just steps away, this home offers the space, updates, and convenience today’s buyers are looking for.

17. 2026-03-24
    price $119,000 1436-char remark

    Show marketing remark (1436 chars)

    Looking for room to roam? Look no more. This spacious and beautifully maintained 3-bedroom, 2-bath home offers comfort, storage, and functionality in a wonderful family-friendly community. The sprawling kitchen is truly the heart of the home, featuring an abundance of cabinetry, an expansive layout, a skylight that fills the space with natural light, and a huge walk-in pantry. Enjoy casual meals in the breakfast nook or host gatherings in the formal dining room. The large living room provides plenty of space to relax or entertain and includes a cozy pellet stove that serves as a secondary heat source. All three bedrooms feature walk-in closets, offering exceptional storage throughout. The primary suite includes a generously sized en suite bath, creating a comfortable private retreat. The second bedroom offers direct access to the large deck through a sliding glass door, perfect for morning coffee or enjoying the outdoors. Outside, you’ll appreciate the fully fenced yard, easy-care vinyl siding, a huge shed/shop for projects or extra storage, and even your own greenhouse for year-round gardening. Major updates have already been completed, including a new roof and windows in 2015 and a new heat pump installed in 2023. Located in a great community close to shopping, freeway access, and public transit just steps away, this home offers the space, updates, and convenience today’s buyers are looking for.

18. 2026-02-14
    listed $129,000 Active 1436-char remark

    Show marketing remark (1436 chars)

    Looking for room to roam? Look no more. This spacious and beautifully maintained 3-bedroom, 2-bath home offers comfort, storage, and functionality in a wonderful family-friendly community. The sprawling kitchen is truly the heart of the home, featuring an abundance of cabinetry, an expansive layout, a skylight that fills the space with natural light, and a huge walk-in pantry. Enjoy casual meals in the breakfast nook or host gatherings in the formal dining room. The large living room provides plenty of space to relax or entertain and includes a cozy pellet stove that serves as a secondary heat source. All three bedrooms feature walk-in closets, offering exceptional storage throughout. The primary suite includes a generously sized en suite bath, creating a comfortable private retreat. The second bedroom offers direct access to the large deck through a sliding glass door, perfect for morning coffee or enjoying the outdoors. Outside, you’ll appreciate the fully fenced yard, easy-care vinyl siding, a huge shed/shop for projects or extra storage, and even your own greenhouse for year-round gardening. Major updates have already been completed, including a new roof and windows in 2015 and a new heat pump installed in 2023. Located in a great community close to shopping, freeway access, and public transit just steps away, this home offers the space, updates, and convenience today’s buyers are looking for.

ⓘ 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: $233 · $19/mo
• Projected year-2 tax: $960 · $80/mo
• Expected delta: +$727/yr (+$61/mo · 311.8%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥91°F today · 16 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: $27,022
• − Mortgage interest: −$5,546
• − Property taxes: −$233
• − Insurance: −$495
• − Repairs & maintenance: −$2,162
• − Management: −$2,162
• − Depreciation: −$2,880
• Taxable income: $13,545
• Est. tax owed @ 24.0%: −$3,251
• After-tax cash flow: $11,139/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: David Douglas SD 40
• NCES district ID: 4103940
• Math proficiency: 34% ▲ 1.00%
• Reading proficiency: 49% ▲ 1.00%
• Median HH income: $42,781
• Composite: 37.38/100
• National rank: #8926
• State rank: #99 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

-23.3% since first listed

4 events — show timeline

• 2026-04-27 Price Changed $99,000 RMLS
• 2026-04-14 Price Changed $111,000 RMLS
• 2026-03-24 Price Changed $119,000 RMLS
• 2026-02-14 Listed $129,000 RMLS

Property tax history

-5.2%/yr

Latest (2025): $233 · +23.3% YoY. Source: county tax records.