7193 SE Crystal Springs Blvd #8 · Portland, OR 97206

$287,900

3 bd · 3.0 ba · 1,119 sqft · Condo · 76 Days on market

Built 2025 $257/sqft · 17% below area Est $346k · 17% under $119/mo HOA · 5% of rent

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +7.2/30.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• Rent growth +3.5/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• DSCR +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to modern living in the heart of Brentwood-Darlington, where neighborhood charm meets everyday convenience and a strong sense of community. I’m thoughtfully designed with two spacious bedrooms plus a versatile third room, ideal for a home office, guest space, or creative studio. My open concept main level blends living, dining, and kitchen spaces seamlessly, while oversized windows fill me with natural light, creating an airy setting for daily living and entertaining. My kitchen features solid surface countertops, extensive cabinetry, a well proportioned island, and designer finishes that balance style and function. Just off the main level, a private fenced backyard extends the living space, perfect for relaxing or enjoying the Pacific Northwest seasons. A convenient half bathroom is located on the main floor for guests. Upstairs, each bedroom is a private ensuite with its own bathroom, offering comfort and flexibility. A centrally located laundry space between the bedrooms adds everyday convenience. Bathrooms showcase extensive tile work and modern fixtures, and mini split systems provide efficient year round heating and cooling. Located approximately 0.3 miles from Brentwood Park, 0.7 miles from Woodstock Park, 0.8 miles from New Seasons Market, 0.9 miles from Double Mountain Brewery, and about 1.0 mile from the shops and restaurants along SE Woodstock Boulevard, I offer easy access to parks, dining, and neighborhood amenities while maintaining a quieter residential feel. My list price is for buyers eligible for Portland Housing Bureau’s System Development Charge Exemption SDC, an initiative promoting affordable housing across the City of Portland. If you’re not familiar with the program, contact my people; they’re experts and are happy to guide you.

Key facts

• Designer finishes
• Extensive cabinetry
• $119 HOA

Tags

• PRIVATE FENCED BACKYARD
• OPEN CONCEPT MAIN LEVEL
• SOLID SURFACE COUNTERTOPS
• EXTENSIVE CABINETRY
• WELL PROPORTIONED ISLAND
• DESIGNER FINISHES

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath condo listed at $288k.

Deal economics

• At list price, monthly cash flow is $-398 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $230k (20.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $216k (24.8% below list).
• Recommended offer: $216k (24.8% below list) — sets the bar for 1% rule.
• Cap rate 4.6% 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.
• Zoned schools: Richmond Elementary School (539 students, 5% FRL); Da Vinci Middle School (434 students, 34% FRL); Cleveland High School (1,547 students, 17% FRL) — zoned schools average 19% FRL vs 37% district-wide (18 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+4.0%/yr); 315 active listings in the ZIP; 40 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; 2,041 units permitted in Multnomah County in 2024 (905 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($271k) 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.

Recommended offer $216,475 (24.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.75% ✗
• Cap rate: 4.63%
• Cash-on-cash: -5.93%
• DSCR: 0.74
• GRM: 11.1

CMA / ARV

• ARV (median comp): $345,762
• List price: $287,900
• Delta: -16.73%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.95% rent growth · sell at horizon

5-year hold

• IRR: -25.3%
• Equity multiple: 0.13×
• Total profit: $-69,836
• Equity at exit: $42,927

10-year hold

• IRR: -18.5%
• Equity multiple: -0.05×
• Total profit: $-84,322
• Equity at exit: $24,892

Cash invested: $80,612 (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 97206

• Rents YoY: 4.0%
• Active inventory: 315
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $2,165 high
• Mortgage (P&I): −$1,510
• Tax est. 1.5%: −$360 /mo · $4,318/yr
• Insurance: −$120
• HOA: −$119
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $-398

Break-even live

Break-even rent $2,669

Max offer price $230,242

Occupancy floor —

Sensitivity live

Price	-10% $-199	-5% $-299	+0% $-398	+5% $-498	+10% $-597
Rent	-10% $-569	-5% $-484	+0% $-398	+5% $-313	+10% $-227
Rate	-1.0pp $-253	-0.5pp $-325	base $-398	+0.5pp $-473	+1.0pp $-549

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: $71,975
• Closing costs: $8,637
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8104 SE 72nd Ave Portland, OR	2.0	1.0	1000	$2,195	$2.19	5d	1	0.04mi
7240 SE Umatilla St Portland, OR	3.0	2.5	1310	$2,825	$2.16	0d	1	0.12mi
7445 SE Crystal Springs Blvd Portland, OR	3.0	3.0	1464	$2,595	$1.77	25d	1	0.15mi
7427 SE 66th Ave Portland, OR	2.0	1.0	934	$1,500	$1.61	19d	1	0.39mi
7307 SE 76th Ave Unit A Portland, OR	3.0	1.0	1467	$2,299	$1.57	45d	1	0.42mi
7414 SE Ogden St Portland, OR	3.0	1.0	1293	$5,300	$4.10	45d	1	0.42mi
6228 SE Knapp St Portland, OR	3.0	1.0	980	$2,495	$2.55	9d	1	0.56mi
8950 SE 79th Pl Portland, OR	2.0	1.0	1000	$1,495	$1.50	23d	1	0.57mi
8950 SE 79th Pl Portland, OR	2.0	1.0	1000	$1,472	$1.47	25d	4	0.57mi
8942 SE 79th Pl Unit 8942 Portland, OR	2.0	1.0	1000	$1,495	$1.50	0d	1	0.57mi
8036 SE Ogden St Portland, OR	4.0	2.0	1260	$2,865	$2.27	14d	1	0.60mi
8300 SE Flavel St Unit 102 Portland, OR	2.0	1.0	1011	$1,650	$1.63	45d	1	0.63mi
7750 SE 57th Ave Portland, OR	3.0	2.5	1470	$2,500	$1.70	14d	1	0.73mi
7750 SE 57th Ave Portland, OR	3.0	2.5	1470	$2,500	$1.70	13d	1	0.73mi
7026 SE Duke St Unit B Portland, OR	2.0	1.5	745	$2,100	$2.82	45d	1	0.74mi
7434 SE Duke St Unit B Portland, OR	2.0	1.0	750	$1,600	$2.13	45d	1	0.75mi
6702 SE 80th Ave #9 Portland, OR	2.0	1.0	824	$1,520	$1.84	22d	1	0.78mi
7057 SE 60th Ave Unit 7061 Portland, OR	2.0	2.5	978	$2,395	$2.45	6d	1	0.80mi
7425 SE Henry St Portland, OR	2.0	1.0	750	$1,525	$2.03	25d	1	0.85mi
6721 SE 84th Ave Portland, OR	2.0	1.0	761	$2,299	$3.02	16d	1	0.86mi
8756 SE Henderson St Unit 147-8753 Portland, OR	2.0	1.5	1100	$2,095	$1.90	45d	1	0.88mi
7008 SE 86th Ave Portland, OR	3.0	1.0	1008	$2,345	$2.33	46d	1	0.89mi
8824 SE Flavel St Unit 8824-5 Portland, OR	2.0	1.0	720	$1,529	$2.12	25d	1	0.89mi
8824 SE Flavel St Unit 8824-4 Portland, OR	2.0	1.0	720	$1,569	$2.18	45d	1	0.89mi
8860 SE Flavel St Unit 6 Portland, OR	2.0	1.0	806	$1,449	$1.80	0d	1	0.93mi
8860 SE Flavel St Unit 51 Portland, OR	2.0	1.0	806	$1,449	$1.80	45d	1	0.93mi
8860 SE Flavel St Unit 46 Portland, OR	2.0	1.0	806	$1,469	$1.82	45d	1	0.93mi
8860 SE Flavel St Unit 48 Portland, OR	2.0	1.0	806	$1,549	$1.92	45d	1	0.93mi
7400 SE Otty St Portland, OR	2.0	1.0	1406	$2,000	$1.42	22d	1	0.93mi
7707 SE Otty St Portland, OR	3.0	1.0	828	$2,245	$2.71	19d	1	0.94mi
6431 SE 83rd Ave Portland, OR	2.0	1.5	952	$1,795	$1.89	0d	1	0.97mi
7109 SE Martins St Portland, OR	3.0	1.0	980	$2,350	$2.40	45d	1	0.98mi
9118 SE Flavel St Portland, OR	1.0–2.0	1.0	800	$1,395	$1.74	13d	3	1.03mi
9118 SE Flavel St Unit 30 Portland, OR	2.0	1.0	850	$1,395	$1.64	6d	1	1.03mi
9118 SE Flavel St Unit 28 Portland, OR	2.0	1.0	850	$1,395	$1.64	25d	1	1.03mi
9985 SE 65th Ave Portland, OR	2.0	1.0	925	$1,582	$1.71	0d	3	1.04mi
5034 SE Flavel Dr Portland, OR	4.0	2.0	1447	$2,950	$2.04	15d	1	1.06mi
7932 SE Woodstock Blvd Unit 7924 Portland, OR	2.0	1.0	915	$1,725	$1.89	25d	1	1.07mi
6546 SE 88th Ave Portland, OR	3.0	1.0	1000	$2,195	$2.19	6d	1	1.09mi
7424 SE 50th Ave Portland, OR	2.0	1.0	912	$2,200	$2.41	45d	1	1.10mi

HOA detail condo

• Monthly dues: $119 · $1,428/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-21
   days on market $287,900 Active 76 DOM
2. 2026-06-18
   days on market $287,900 Active 73 DOM
3. 2026-06-17
   days on market $287,900 Active 72 DOM
4. 2026-06-16
   days on market $287,900 Active 71 DOM
5. 2026-06-15
   days on market $287,900 Active 70 DOM
6. 2026-06-13
   days on market $287,900 Active 68 DOM
7. 2026-06-09
   days on market $287,900 Active 64 DOM
8. 2026-06-08
   days on market $287,900 Active 63 DOM
9. 2026-06-07
   pricedays on market $287,900 Active 62 DOM
10. 2026-06-03
    days on market $289,900 Active 58 DOM
11. 2026-06-02
    days on market $289,900 Active 57 DOM
12. 2026-06-01
    days on market $289,900 Active 56 DOM
13. 2026-05-31
    days on market $289,900 Active 55 DOM
14. 2026-04-16
    status Active 1814-char remark

    Show marketing remark (1814 chars)

    Welcome to modern living in the heart of Brentwood-Darlington, where neighborhood charm meets everyday convenience and a strong sense of community. I’m thoughtfully designed with two spacious bedrooms plus a versatile third room, ideal for a home office, guest space, or creative studio. My open concept main level blends living, dining, and kitchen spaces seamlessly, while oversized windows fill me with natural light, creating an airy setting for daily living and entertaining. My kitchen features solid surface countertops, extensive cabinetry, a well proportioned island, and designer finishes that balance style and function. Just off the main level, a private fenced backyard extends the living space, perfect for relaxing or enjoying the Pacific Northwest seasons. A convenient half bathroom is located on the main floor for guests. Upstairs, each bedroom is a private ensuite with its own bathroom, offering comfort and flexibility. A centrally located laundry space between the bedrooms adds everyday convenience. Bathrooms showcase extensive tile work and modern fixtures, and mini split systems provide efficient year round heating and cooling. Located approximately 0.3 miles from Brentwood Park, 0.7 miles from Woodstock Park, 0.8 miles from New Seasons Market, 0.9 miles from Double Mountain Brewery, and about 1.0 mile from the shops and restaurants along SE Woodstock Boulevard, I offer easy access to parks, dining, and neighborhood amenities while maintaining a quieter residential feel. My list price is for buyers eligible for Portland Housing Bureau’s System Development Charge Exemption SDC, an initiative promoting affordable housing across the City of Portland. If you’re not familiar with the program, contact my people; they’re experts and are happy to guide you.

15. 2026-02-27
    status Pending 1814-char remark

    Show marketing remark (1814 chars)

    Welcome to modern living in the heart of Brentwood-Darlington, where neighborhood charm meets everyday convenience and a strong sense of community. I’m thoughtfully designed with two spacious bedrooms plus a versatile third room, ideal for a home office, guest space, or creative studio. My open concept main level blends living, dining, and kitchen spaces seamlessly, while oversized windows fill me with natural light, creating an airy setting for daily living and entertaining. My kitchen features solid surface countertops, extensive cabinetry, a well proportioned island, and designer finishes that balance style and function. Just off the main level, a private fenced backyard extends the living space, perfect for relaxing or enjoying the Pacific Northwest seasons. A convenient half bathroom is located on the main floor for guests. Upstairs, each bedroom is a private ensuite with its own bathroom, offering comfort and flexibility. A centrally located laundry space between the bedrooms adds everyday convenience. Bathrooms showcase extensive tile work and modern fixtures, and mini split systems provide efficient year round heating and cooling. Located approximately 0.3 miles from Brentwood Park, 0.7 miles from Woodstock Park, 0.8 miles from New Seasons Market, 0.9 miles from Double Mountain Brewery, and about 1.0 mile from the shops and restaurants along SE Woodstock Boulevard, I offer easy access to parks, dining, and neighborhood amenities while maintaining a quieter residential feel. My list price is for buyers eligible for Portland Housing Bureau’s System Development Charge Exemption SDC, an initiative promoting affordable housing across the City of Portland. If you’re not familiar with the program, contact my people; they’re experts and are happy to guide you.

16. 2026-02-17
    listed $299,900 Active 1814-char remark

    Show marketing remark (1814 chars)

    Welcome to modern living in the heart of Brentwood-Darlington, where neighborhood charm meets everyday convenience and a strong sense of community. I’m thoughtfully designed with two spacious bedrooms plus a versatile third room, ideal for a home office, guest space, or creative studio. My open concept main level blends living, dining, and kitchen spaces seamlessly, while oversized windows fill me with natural light, creating an airy setting for daily living and entertaining. My kitchen features solid surface countertops, extensive cabinetry, a well proportioned island, and designer finishes that balance style and function. Just off the main level, a private fenced backyard extends the living space, perfect for relaxing or enjoying the Pacific Northwest seasons. A convenient half bathroom is located on the main floor for guests. Upstairs, each bedroom is a private ensuite with its own bathroom, offering comfort and flexibility. A centrally located laundry space between the bedrooms adds everyday convenience. Bathrooms showcase extensive tile work and modern fixtures, and mini split systems provide efficient year round heating and cooling. Located approximately 0.3 miles from Brentwood Park, 0.7 miles from Woodstock Park, 0.8 miles from New Seasons Market, 0.9 miles from Double Mountain Brewery, and about 1.0 mile from the shops and restaurants along SE Woodstock Boulevard, I offer easy access to parks, dining, and neighborhood amenities while maintaining a quieter residential feel. My list price is for buyers eligible for Portland Housing Bureau’s System Development Charge Exemption SDC, an initiative promoting affordable housing across the City of Portland. If you’re not familiar with the program, contact my people; they’re experts and are happy to guide you.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $25,977
• − Mortgage interest: −$16,127
• − Property taxes: −$4,318
• − Insurance: −$1,440
• − Repairs & maintenance: −$2,078
• − Management: −$2,078
• − HOA: −$1,428
• − Depreciation: −$8,375
• Taxable loss: −$9,867
• Est. tax savings @ 24.0%: +$2,368
• After-tax cash flow: $-2,413/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: 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): 49,890
• Household income: $98,548
• Rent vs Own: 35.2% rent · 64.8% own
• Severe rent burden: 1802.0

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 (72%)
• Race & ethnicity: White 72% Asian 10% Hispanic / Latino 10% Two or more races 8% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 6% Slovak 4% Portuguese 3%
• Foreign-born: 11% · Vietnam, Canada, China
• Languages at home: 85% English-only · Spanish 5% Vietnamese 3% Chinese 2%

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: ▼ -702.90%
• Current HPI: 348.0411
• Rent YoY: ▲ 3.95%
• 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 events — show timeline

• 2026-04-16 Relisted — RMLS
• 2026-02-27 Pending — RMLS
• 2026-02-17 Listed $299,900 RMLS