921/927 NE Prescott St · Portland, OR 97211

$699,500

24 bd · 8.0 ba · 3,168 sqft · MultiFamily · 70 Days on market

Built 1927 Fair condition 5,227 sqft lot $221/sqft · 12% below area Est $794k · 12% under ↓ 5% 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 +12.8/15.0
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• Rent growth +2.6/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Darling side-by-side duplex in the heart of the HOT King/Alberta neighborhood — an unbeatable rental location! Each unit features a mirrored layout filled with charm and classic details, including hardwood floors and built-ins. Both units enjoy fantastic outdoor spaces with front and side decks, an elevated front yard overlooking Prescott, plus a large, private, fenced backyard complete with a patio and fire pit. Each side offers cute, functional kitchens and baths, along with spacious main- and upper-level bedrooms. A lower-level bedroom with exterior entrance adds flexibility, and the basement provides a large unfinished area with laundry and generous storage space — with lots of potential to finish and add an additional bathroom. Whether you're looking for a turnkey rental or an owner-occupied investment opportunity, this one checks all the boxes.

Key facts

• Side-by-side duplex
• Front and side decks
• Mirrored layout

Tags

• SIDE-BY-SIDE DUPLEX
• MIRRORED LAYOUT
• HARDWOOD FLOORS
• BUILT-INS
• OUTDOOR SPACES
• FRONT AND SIDE DECKS

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/1.0-bath units multifamily listed at $700k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $3k ($32k/yr) — positive. Per door: $669/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $700k).
• Recommended offer: $658k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.9% 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.
• Portland SD 1J (urban): math 46% / reading 58% proficiency, ranked #23 of 183 in OR (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents flat; 182 active listings in the ZIP; high-income renter base; 2,041 units permitted in Multnomah County in 2024 (905 in 5+ unit buildings).
• At $9,507/mo this rent would consume 101% of the median local household income ($113k/yr) (locally 1162% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $21k 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 + 0.5% rent growth), your $196k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($658k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $657,530 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.36% ✓
• Cap rate: 10.88%
• Cash-on-cash: 16.40%
• DSCR: 1.73
• GRM: 6.1

CMA / ARV

• ARV (median comp): $793,828
• List price: $699,500
• Delta: -11.88%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.52% rent growth · sell at horizon

5-year hold

• IRR: 4.6%
• Equity multiple: 1.17×
• Total profit: $34,108
• Equity at exit: $104,298

10-year hold

• IRR: 11.7%
• Equity multiple: 1.81×
• Total profit: $159,393
• Equity at exit: $60,480

Cash invested: $195,860 (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 97211

• Rents YoY: 0.5%
• Active inventory: 182
• Price-to-rent: 24.5×

Monthly cashflow live

• Estimated rent: $9,507 high
• Mortgage (P&I): −$3,668
• Tax est. 1.5%: −$874 /mo · $10,492/yr
• Insurance: −$291
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,996
• Net cashflow: $2,676

Break-even live

Break-even rent $6,119

Max offer price $699,500

Occupancy floor 67%

Sensitivity live

Price	-10% $3,160	-5% $2,918	+0% $2,676	+5% $2,435	+10% $2,193
Rent	-10% $1,925	-5% $2,301	+0% $2,676	+5% $3,052	+10% $3,427
Rate	-1.0pp $3,029	-0.5pp $2,854	base $2,676	+0.5pp $2,495	+1.0pp $2,311

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	3	1	$9,508
Total (4 units)			$9,507

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: $174,875
• Closing costs: $20,985
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-11
   price $699,500 874-char remark

   Show marketing remark (874 chars)

   Darling side-by-side duplex in the heart of the HOT King/Alberta neighborhood — an unbeatable rental location! Each unit features a mirrored layout filled with charm and classic details, including hardwood floors and built-ins. Both units enjoy fantastic outdoor spaces with front and side decks, an elevated front yard overlooking Prescott, plus a large, private, fenced backyard complete with a patio and fire pit. Each side offers cute, functional kitchens and baths, along with spacious main- and upper-level bedrooms. A lower-level bedroom with exterior entrance adds flexibility, and the basement provides a large unfinished area with laundry and generous storage space — with lots of potential to finish and add an additional bathroom. Whether you're looking for a turnkey rental or an owner-occupied investment opportunity, this one checks all the boxes.

2. 2026-04-24
   price $715,000 874-char remark

   Show marketing remark (874 chars)

   Darling side-by-side duplex in the heart of the HOT King/Alberta neighborhood — an unbeatable rental location! Each unit features a mirrored layout filled with charm and classic details, including hardwood floors and built-ins. Both units enjoy fantastic outdoor spaces with front and side decks, an elevated front yard overlooking Prescott, plus a large, private, fenced backyard complete with a patio and fire pit. Each side offers cute, functional kitchens and baths, along with spacious main- and upper-level bedrooms. A lower-level bedroom with exterior entrance adds flexibility, and the basement provides a large unfinished area with laundry and generous storage space — with lots of potential to finish and add an additional bathroom. Whether you're looking for a turnkey rental or an owner-occupied investment opportunity, this one checks all the boxes.

3. 2026-04-08
   status Active 874-char remark

   Show marketing remark (874 chars)

   Darling side-by-side duplex in the heart of the HOT King/Alberta neighborhood — an unbeatable rental location! Each unit features a mirrored layout filled with charm and classic details, including hardwood floors and built-ins. Both units enjoy fantastic outdoor spaces with front and side decks, an elevated front yard overlooking Prescott, plus a large, private, fenced backyard complete with a patio and fire pit. Each side offers cute, functional kitchens and baths, along with spacious main- and upper-level bedrooms. A lower-level bedroom with exterior entrance adds flexibility, and the basement provides a large unfinished area with laundry and generous storage space — with lots of potential to finish and add an additional bathroom. Whether you're looking for a turnkey rental or an owner-occupied investment opportunity, this one checks all the boxes.

4. 2026-02-25
   listed $732,500 Active 874-char remark

   Show marketing remark (874 chars)

   Darling side-by-side duplex in the heart of the HOT King/Alberta neighborhood — an unbeatable rental location! Each unit features a mirrored layout filled with charm and classic details, including hardwood floors and built-ins. Both units enjoy fantastic outdoor spaces with front and side decks, an elevated front yard overlooking Prescott, plus a large, private, fenced backyard complete with a patio and fire pit. Each side offers cute, functional kitchens and baths, along with spacious main- and upper-level bedrooms. A lower-level bedroom with exterior entrance adds flexibility, and the basement provides a large unfinished area with laundry and generous storage space — with lots of potential to finish and add an additional bathroom. Whether you're looking for a turnkey rental or an owner-occupied investment opportunity, this one checks all the boxes.

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 19 unhealthy d/yr today · 20 by 30 yrs out

Taxation est. · year 1

• Rental income: $114,084
• − Mortgage interest: −$39,183
• − Property taxes: −$10,492
• − Insurance: −$3,498
• − Repairs & maintenance: −$9,127
• − Management: −$9,127
• − Depreciation: −$20,349
• Taxable income: $22,309
• Est. tax owed @ 24.0%: −$5,354
• After-tax cash flow: $26,763/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This side-by-side duplex requires moderate renovations to improve its condition and increase its value. Key areas for improvement include appliances, bathrooms, exterior siding, flooring, and painting.

Repairs flagged

• Major Appliances — Old and worn
• Major Bathrooms — Needs updating
• Major Exterior siding — Wear
• Major Carpeted floors — Needs replacing
• Major Paint — Faded

Value-add opportunities

• Both New appliances — Modernizes the home and attracts buyers
• Both Bathroom updates — Improves functionality and appeal
• Both Exterior siding replacement — Enhances curb appeal and value
• Both Carpet replacement — Freshens up the interior and adds value
• Both Painting — Refreshes the home's appearance and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Appliances · Old and worn	Major	$15,000–50,000
Bathrooms · Needs updating	Major	$15,000–50,000
Exterior siding · Wear	Major	$15,000–50,000
Carpeted floors · Needs replacing	Major	$15,000–50,000
Paint · Faded	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both New appliances — Modernizes the home and attracts buyers ↑
• Both Bathroom updates — Improves functionality and appeal ↑
• Both Exterior siding replacement — Enhances curb appeal and value ↑
• Both Carpet replacement — Freshens up the interior and adds value ↑
• Both Painting — Refreshes the home's appearance and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Portland SD 1J
• NCES district ID: 4110040
• Math proficiency: 46% ▼ -2.00%
• Reading proficiency: 58% ▼ -3.00%
• Median HH income: $57,851
• Composite: 47.1/100
• National rank: #5112
• State rank: #23 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): 33,769
• Household income: $112,586
• Rent vs Own: 37.6% rent · 62.4% own
• Severe rent burden: 1162.0

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: Predominantly White (68%)
• Race & ethnicity: White 68% Two or more races 12% Black 10% Hispanic / Latino 9% Asian 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 3% Lithuanian 3% Slovak 3%
• Foreign-born: 7% · Canada, Vietnam, China
• Languages at home: 88% English-only · Spanish 6% French/Haitian/Cajun 1% Vietnamese 1%

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: ▼ -813.54%
• Current HPI: 372.7719
• Rent YoY: ▲ 0.52%
• 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

-4.5% since first listed

4 events — show timeline

• 2026-05-11 Price Changed $699,500 RMLS
• 2026-04-24 Price Changed $715,000 RMLS
• 2026-04-08 Relisted — RMLS
• 2026-02-25 Listed $732,500 RMLS