32700 SE Leewood Ln Unit 29A · Boring, OR 97009

$139,000

3 bd · 2.0 ba · 1,323 sqft · Condo · 36 Days on market

Built 1984 $105/sqft · 8% above area Est $128k · 8% over

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Why this score? — see what drove the C 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 +23.0/30.0
• 1% rule +10.0/10.0
• DSCR +7.4/10.0
• Schools +5.0/10.0
• ARV discount +3.7/15.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Peaceful living in Big Valley Woods Parks. Enjoy nature with its beautiful ponds, extensive hiking trails, dog parks and much more. This 3 bedroom, 2 bath home features a carport and extra storage. Freshly painted inside and out. New flooring. Situated on a large lot with an ideal location overlooking deep creek. Space rent $1,295/Month includes water, sewer and garbage.

Key facts

• Extra storage
• Large lot
• Built 1984

Tags

• EXTENSIVE HIKING TRAILS
• LARGE LOT
• EXTRA STORAGE

Property features AI

Finance

• Other: Property is resale; Manufacturer: FUQUA HOMES INC; Ownership building area reported
• Financial info: Land lease (monthly lot rent) with expiration August 31, 2027
• HOA & community: Park amenities include basketball court, commons, party room, recreation facilities; Community management, road maintenance, trash, water and sewer provided; Located in Big Valley Woods park (not a senior community)

Exterior

• Parking: Carport; Driveway
• Utilities: Community water; Community sewer and septic tank; Electricity and propane fuel available
• Home design: Manufactured home in a park; Residential property (not attached); Great room, family room, living room and dining room; Entry all on main level
• Construction: Built in 1984; Metal roof; Block foundation with skirting
• Exterior features: Covered patio; Deck; Tool shed; Workshop; Trees on the lot; Creek frontage / creek on the property; Views of creek/stream and trees/woods; Paved road access; T-111 and wood siding

Interior

• Kitchen: Free-standing range
• Bedrooms: Primary bedroom on main level; Second bedroom on main level; Third bedroom on main level
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Heat pump for heating and cooling
• Interior features: One-level accessibility; Propane fireplace; Vinyl window frames
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $139k.

Deal economics

• At list price, monthly cash flow is $248 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $139k).
• Recommended offer: $135k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Oregon Trail SD 46 (town): math 47% / reading 64% proficiency, ranked #12 of 183 in OR (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Naas Elementary School (345 students, 47% FRL); Boring Middle School (405 students, 34% FRL); Sandy High School (1,440 students, 32% FRL) — zoned schools at 38% FRL track the district average.
• Market conditions: 38 active listings in the ZIP; 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 $961 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($135k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 43% of rent.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $134,830 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.17% ✓
• Cap rate: 8.43%
• Cash-on-cash: 7.63%
• DSCR: 1.34
• GRM: 3.8

CMA / ARV

• ARV (median comp): $128,247
• List price: $139,000
• Delta: 8.39%
• Verdict: FAIR
• Comps: 10 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -4.1%
• Equity multiple: 0.85×
• Total profit: $-5,992
• Equity at exit: $20,725

10-year hold

• IRR: 6.1%
• Equity multiple: 1.47×
• Total profit: $18,200
• Equity at exit: $12,018

Cash invested: $38,920 (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 97009

• Active inventory: 38
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $3,016 medium
• Mortgage (P&I): −$729
• Tax from tax record: −$64 /mo · $763/yr
• Insurance: −$58
• HOA est. from 5 same-building comps: −$1,285
• Vacancy / Maint / Mgmt: −$633
• Net cashflow: $248

Break-even live

Break-even rent $2,703

Max offer price $139,000

Occupancy floor 87%

Sensitivity live

Price	-10% $326	-5% $287	+0% $248	+5% $208	+10% $169
Rent	-10% $9	-5% $128	+0% $248	+5% $367	+10% $486
Rate	-1.0pp $318	-0.5pp $283	base $248	+0.5pp $211	+1.0pp $175

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: watersewertrash
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-18
   days on market $139,000 Active 36 DOM
2. 2026-06-17
   days on market $139,000 Active 35 DOM
3. 2026-06-16
   days on market $139,000 Active 34 DOM
4. 2026-06-15
   days on market $139,000 Active 33 DOM
5. 2026-06-13
   days on market $139,000 Active 31 DOM
6. 2026-06-13
   days on market $139,000 Active 30 DOM
7. 2026-06-09
   days on market $139,000 Active 27 DOM
8. 2026-06-08
   days on market $139,000 Active 26 DOM
9. 2026-06-07
   days on market $139,000 Active 25 DOM
10. 2026-06-03
    days on market $139,000 Active 21 DOM
11. 2026-06-02
    days on market $139,000 Active 20 DOM
12. 2026-06-01
    days on market $139,000 Active 19 DOM
13. 2026-05-31
    days on market $139,000 Active 18 DOM
14. 2026-05-13
    listed $139,000 Active 373-char remark

ⓘ 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: $763 · $64/mo
• Projected year-2 tax: $1,348 · $112/mo
• Expected delta: +$585/yr (+$49/mo · 76.7%)

ⓘ 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 5/10 Major
• 🌡 Heat 2/10 Low 7 d/yr ≥90°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 11 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,197
• − Mortgage interest: −$7,786
• − Property taxes: −$763
• − Insurance: −$695
• − Repairs & maintenance: −$2,896
• − Management: −$2,896
• − HOA: −$15,420
• − Depreciation: −$4,044
• Taxable income: $1,697
• Est. tax owed @ 24.0%: −$407
• After-tax cash flow: $2,563/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: Oregon Trail SD 46
• NCES district ID: 4110890
• Math proficiency: 47% ▬ 0.00%
• Reading proficiency: 64% ▲ 1.00%
• Median HH income: $61,406
• Composite: 50.19/100
• National rank: #4075
• State rank: #12 of 183 in OR

Livability — Boring

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 7,877

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 (73%)
• Race & ethnicity: White 73% Hispanic / Latino 18% Two or more races 14% Asian 1%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Portuguese 3% Slovak 3% Iranian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 91% English-only · Spanish 7% Other Indo-European 2%

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: ▼ -238.15%
• Current HPI: 307.0405
• Rent YoY: —
• Metro: —
• 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

• 2026-05-13 Listed $139,000 RMLS

Property tax history

+4.0%/yr

Latest (2025): $763 · +4.6% YoY. Source: county tax records.