3200 SE Silver Leaf Ln #34 · Oak Grove, OR 97267

$89,000

2 bd · 1.0 ba · 784 sqft · Other · 49 Days on market

Built 1992 $114/sqft · 64% above area ↓ 4% since listing

---

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 +7.5/15.0
• Livability +4.2/5.0
• Schools +3.2/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming and spacious 1-level manufactured home located in a convenient Portland location! This 2-bedroom, 1-bath home features laminate flooring throughout, high ceilings, and the added comfort of air conditioning, enhancing the open, airy feel of the space.Enjoy a bright open-concept layout where the living, dining, and kitchen areas flow seamlessly together, creating a larger feel and making it perfect for everyday living and entertaining. The home is filled with natural light, adding warmth and comfort throughout.The kitchen is generously sized and well-equipped with built-in appliances, garbage disposal, a functional island, and plenty of space for cooking and gathering. The home also features in-unit washer and dryer for convenience. Step outside to enjoy your fenced backyard, ideal for relaxing, pets, or outdoor enjoyment. Located close to shopping, dining, and everyday amenities, this home offers the perfect blend of comfort, convenience, and value—a great opportunity for first-time buyers, downsizers, or investors.

Key facts

• Air conditioning
• Laminate flooring
• Built-in appliances

Tags

• LAMINATE FLOORING
• AIR CONDITIONING
• OPEN-CONCEPT LAYOUT
• NATURAL LIGHT
• BUILT-IN APPLIANCES
• FUNCTIONAL ISLAND

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $89k.

Deal economics

• At list price, monthly cash flow is $801 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $89k).
• Recommended offer: $86k (3.0% below list) — sets the bar for market timing.
• Cap rate 17.1% vs local median 2.7% in Oak Grove — 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 84/100 on livability (#37 in OR, #832 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: 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.
• Market conditions: Rents flat; 170 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 946 units permitted in Clackamas County in 2024 (188 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $615 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 + 0.8% rent growth), your $25k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $86,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.92% ✓
• Cap rate: 17.10%
• Cash-on-cash: 38.59%
• DSCR: 2.72
• GRM: 4.3

CMA / ARV

• ARV (median comp): $54,185
• List price: $89,000
• Delta: 64.25%
• Verdict: OVERPRICED
• Comps: 8 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.81% rent growth · sell at horizon

5-year hold

• IRR: 32.3%
• Equity multiple: 2.32×
• Total profit: $32,929
• Equity at exit: $13,270

10-year hold

• IRR: 38.2%
• Equity multiple: 4.21×
• Total profit: $79,888
• Equity at exit: $7,695

Cash invested: $24,920 (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 97267

• Rents YoY: 0.8%
• Active inventory: 170
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,706 high
• Mortgage (P&I): −$467
• Tax from tax record: −$43 /mo · $511/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $801

Break-even live

Break-even rent $692

Max offer price $89,000

Occupancy floor 48%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15500 SE East Ave Unit 15530 Oak Grove, OR	2.0	1.5	900	$1,450	$1.61	22d	1	0.08mi
15318 SE Risley Ct Milwaukie, OR	2.0	1.0	1100	$2,395	$2.18	12d	1	0.11mi
3624 SE Westview Ave Portland, OR	3.0	2.0	1052	$1,950	$1.85	15d	2	0.49mi
3025 SE Maple St Portland, OR	2.0	1.0	900	$1,695	$1.88	20d	1	0.50mi
3025 SE Maple St Unit 4 Portland, OR	2.0	1.0	900	$1,695	$1.88	8d	1	0.50mi
14832 SE Cedar Ave Unit 3 Milwaukie, OR	2.0	1.0	850	$1,395	$1.64	12d	1	0.65mi
2600 SE Courtney Ave Portland, OR	1.0	1.0	600	$1,378	$2.30	24d	3	0.75mi
14020 SE Arista Dr Portland, OR	2.0	1.5	970	$1,900	$1.96	44d	1	0.81mi
2301 SE Courtney Ave Unit 10 Oak Grove, OR	2.0	1.0	962	$1,295	$1.35	24d	1	0.83mi
2295 SE Courtney Ave Portland, OR	1.0	1.0	727	$1,195	$1.64	3d	1	0.85mi
2295 SE Courtney Ave Portland, OR	2.0	1.0	962	$1,295	$1.35	24d	1	0.85mi
2311 SE Courtney Ave Portland, OR	2.0	1.5	1000	$1,795	$1.79	24d	1	0.86mi
4400 SE Naef Rd Portland, OR	1.0	1.0	717	$1,350	$1.88	24d	1	0.96mi
4400 SE Naef Rd Portland, OR	1.0–2.0	1.0–2.0	863	$1,620	$1.88	8d	9	0.96mi
13500 SE Linden Ln Portland, OR	2.0	1.0	750	$1,500	$2.00	24d	1	0.96mi
4400 SE Naef Rd Unit F30 Milwaukie, OR	2.0	2.0	1010	$1,620	$1.60	24d	1	0.97mi
4400 SE Naef Rd Apt B22 Milwaukie, OR	1.0	1.0	717	$1,385	$1.93	24d	1	0.97mi
3190 Furman Dr Lake Oswego, OR	1.0–2.0	1.0	648	$1,554	$2.40	44d	1	1.13mi
4545 SE Ina Ave Portland, OR	2.0	1.0	900	$1,495	$1.66	2d	1	1.28mi
5033 Foothills Rd Lake Oswego, OR	1.0–2.0	1.0–2.0	1105	$2,664	$2.41	2d	16	1.33mi
4520 SE Ina Ave Apt 6 Portland, OR	1.0	1.0	775	$1,399	$1.81	44d	1	1.33mi
4807 SE Boardman Ave Unit 2 Portland, OR	3.0	1.0	986	$1,895	$1.92	44d	1	1.39mi
4803 SE Boardman Ave Milwaukie, OR	3.0	1.0	986	$1,895	$1.92	44d	1	1.42mi
4803 SE Boardman Ave Unit 0702 Milwaukie, OR	3.0	1.0	986	$1,895	$1.92	24d	1	1.42mi
12600 SE River Rd Portland, OR	2.0	1.0	825	$1,520	$1.84	2d	4	1.43mi
4800 SE Boardman Ave Apt 6 Milwaukie, OR	2.0	1.0	830	$1,595	$1.92	4d	1	1.45mi
12601 SE River Rd Portland, OR	2.0	1.0	697	$1,870	$2.68	2d	4	1.47mi

Listing history 8 events

1. 2026-04-23
   price $89,000 1045-char remark

   Show marketing remark (1045 chars)

   Charming and spacious 1-level manufactured home located in a convenient Portland location! This 2-bedroom, 1-bath home features laminate flooring throughout, high ceilings, and the added comfort of air conditioning, enhancing the open, airy feel of the space.Enjoy a bright open-concept layout where the living, dining, and kitchen areas flow seamlessly together, creating a larger feel and making it perfect for everyday living and entertaining. The home is filled with natural light, adding warmth and comfort throughout.The kitchen is generously sized and well-equipped with built-in appliances, garbage disposal, a functional island, and plenty of space for cooking and gathering. The home also features in-unit washer and dryer for convenience. Step outside to enjoy your fenced backyard, ideal for relaxing, pets, or outdoor enjoyment. Located close to shopping, dining, and everyday amenities, this home offers the perfect blend of comfort, convenience, and value—a great opportunity for first-time buyers, downsizers, or investors.

2. 2026-04-09
   listed $99,000 Active 1045-char remark

   Show marketing remark (1045 chars)

   Charming and spacious 1-level manufactured home located in a convenient Portland location! This 2-bedroom, 1-bath home features laminate flooring throughout, high ceilings, and the added comfort of air conditioning, enhancing the open, airy feel of the space.Enjoy a bright open-concept layout where the living, dining, and kitchen areas flow seamlessly together, creating a larger feel and making it perfect for everyday living and entertaining. The home is filled with natural light, adding warmth and comfort throughout.The kitchen is generously sized and well-equipped with built-in appliances, garbage disposal, a functional island, and plenty of space for cooking and gathering. The home also features in-unit washer and dryer for convenience. Step outside to enjoy your fenced backyard, ideal for relaxing, pets, or outdoor enjoyment. Located close to shopping, dining, and everyday amenities, this home offers the perfect blend of comfort, convenience, and value—a great opportunity for first-time buyers, downsizers, or investors.

3. 2024-03-28
   soldstatus $85,000 Closed 632-char remark

   Show marketing remark (632 chars)

   This charming home is in the heart of Milwaukie. Just a hop, skip, and a jump to the grocery store. Public transit is close by and it is minutes to the MAX Rail Line for a ride to your favorite destination. This home is a total remodel. The large Living area flows into the kitchen, which features a butcher-block island/breakfast bar, Stainless-Steel built-in cooktop/oven, Dishwasher, and French door refrigerator. Luxury vinyl plank flooring, new vinyl-dual pane windows and LED lighting throughout. The bath features a custom tile walk-in shower with an upgraded shower head. This home has much to offer and is so affordable!

4. 2024-03-04
   status Pending 632-char remark

   Show marketing remark (632 chars)

   This charming home is in the heart of Milwaukie. Just a hop, skip, and a jump to the grocery store. Public transit is close by and it is minutes to the MAX Rail Line for a ride to your favorite destination. This home is a total remodel. The large Living area flows into the kitchen, which features a butcher-block island/breakfast bar, Stainless-Steel built-in cooktop/oven, Dishwasher, and French door refrigerator. Luxury vinyl plank flooring, new vinyl-dual pane windows and LED lighting throughout. The bath features a custom tile walk-in shower with an upgraded shower head. This home has much to offer and is so affordable!

5. 2024-02-21
   status Active 632-char remark

   Show marketing remark (632 chars)

   This charming home is in the heart of Milwaukie. Just a hop, skip, and a jump to the grocery store. Public transit is close by and it is minutes to the MAX Rail Line for a ride to your favorite destination. This home is a total remodel. The large Living area flows into the kitchen, which features a butcher-block island/breakfast bar, Stainless-Steel built-in cooktop/oven, Dishwasher, and French door refrigerator. Luxury vinyl plank flooring, new vinyl-dual pane windows and LED lighting throughout. The bath features a custom tile walk-in shower with an upgraded shower head. This home has much to offer and is so affordable!

6. 2024-02-14
   status Pending 632-char remark

   Show marketing remark (632 chars)

   This charming home is in the heart of Milwaukie. Just a hop, skip, and a jump to the grocery store. Public transit is close by and it is minutes to the MAX Rail Line for a ride to your favorite destination. This home is a total remodel. The large Living area flows into the kitchen, which features a butcher-block island/breakfast bar, Stainless-Steel built-in cooktop/oven, Dishwasher, and French door refrigerator. Luxury vinyl plank flooring, new vinyl-dual pane windows and LED lighting throughout. The bath features a custom tile walk-in shower with an upgraded shower head. This home has much to offer and is so affordable!

7. 2024-01-05
   price $87,000 632-char remark

   Show marketing remark (632 chars)

   This charming home is in the heart of Milwaukie. Just a hop, skip, and a jump to the grocery store. Public transit is close by and it is minutes to the MAX Rail Line for a ride to your favorite destination. This home is a total remodel. The large Living area flows into the kitchen, which features a butcher-block island/breakfast bar, Stainless-Steel built-in cooktop/oven, Dishwasher, and French door refrigerator. Luxury vinyl plank flooring, new vinyl-dual pane windows and LED lighting throughout. The bath features a custom tile walk-in shower with an upgraded shower head. This home has much to offer and is so affordable!

8. 2023-12-05
   listed $92,500 Active 632-char remark

   Show marketing remark (632 chars)

   This charming home is in the heart of Milwaukie. Just a hop, skip, and a jump to the grocery store. Public transit is close by and it is minutes to the MAX Rail Line for a ride to your favorite destination. This home is a total remodel. The large Living area flows into the kitchen, which features a butcher-block island/breakfast bar, Stainless-Steel built-in cooktop/oven, Dishwasher, and French door refrigerator. Luxury vinyl plank flooring, new vinyl-dual pane windows and LED lighting throughout. The bath features a custom tile walk-in shower with an upgraded shower head. This home has much to offer and is so affordable!

ⓘ 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: $511 · $43/mo
• Projected year-2 tax: $863 · $72/mo
• Expected delta: +$353/yr (+$29/mo · 69.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 18 unhealthy d/yr today · 20 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,474
• − Mortgage interest: −$4,985
• − Property taxes: −$511
• − Insurance: −$445
• − Repairs & maintenance: −$1,638
• − Management: −$1,638
• − Depreciation: −$2,589
• Taxable income: $8,668
• Est. tax owed @ 24.0%: −$2,080
• After-tax cash flow: $7,537/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 — Oak Grove

• Score: 84/100
• State rank: #37
• US rank: #832

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oak Grove, OR
• County: Clackamas County · 361,406 people
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 31,311
• Household income: $87,418
• Rent vs Own: 28.2% rent · 71.8% own
• Severe rent burden: 1226.0

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 (78%)
• Race & ethnicity: White 78% Hispanic / Latino 12% Two or more races 10% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Portuguese 5% Lithuanian 4% Italian 3%
• Foreign-born: 8% · Canada
• Languages at home: 88% English-only · Spanish 7% Russian/Polish/Slavic 2% Other Indo-European 1%

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: ▼ -526.38%
• Current HPI: 292.1818
• Rent YoY: ▲ 0.81%
• 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

-3.8% since first listed

8 events — show timeline

• 2026-04-23 Price Changed $89,000 RMLS
• 2026-04-09 Listed $99,000 RMLS
• 2024-03-28 Sold (MLS) $85,000 RMLS
• 2024-03-04 Pending — RMLS
• 2024-02-21 Relisted — RMLS
• 2024-02-14 Pending — RMLS
• 2024-01-05 Price Changed $87,000 RMLS
• 2023-12-05 Listed $92,500 RMLS

Property tax history

+4.9%/yr

Latest (2025): $511 · +5.9% YoY. Source: county tax records.