12054 N Jantzen Beach Ave · Portland, OR 97217

$229,000

2 bd · 1.0 ba · 1,120 sqft · Condo · 4 Days on market

Built 1972

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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 +7.5/15.0
• Cash flow +7.4/30.0
• 1% rule +4.9/10.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• DSCR +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this updated townhouse-style condo! Two bedrooms, 1.5 baths with open floor plan. Scenic riverfront pedestrian trails only one block away and fantastic community amenities. Deeded carport and additional parking space. Convenient location to both Portland and Vancouver. No rental cap and FHA approved! Don't miss this one! Offers due 2/5 at 4pm

Key facts

• Garage
• Community pool
• Built 1972

Property features AI

Finance

• Other: Complex has 144 units and 2 total levels; No deeded storage assigned; Deeded parking (garage type listed as deeded in condo info)
• HOA & community: HOA present; Association maintains landscaping and grounds; Association amenities include pool, sauna, gym, meeting room, athletic courts, tennis courts, management, exterior maintenance, insurance, trash and water; No move-in/move-out fee; No rental cap

Exterior

• Parking: Deeded carport (1 space)
• Utilities: Electric fuel; Cable internet available; Public water; Public sewer
• Home design: Residential condominium; Townhouse-style unit; Not attached; 2 stories; View facing territorial
• Construction: Built in 1972; Composition roof; Concrete perimeter foundation
• Exterior features: Covered patio; Tennis court(s); Vinyl siding; Paved road access; Commons area; Level terrain; Territorial view

Interior

• Kitchen: Built-in range; Free-standing refrigerator; Pantry
• Bedrooms: Primary bedroom (Upper); Second bedroom (Upper)
• Flooring: Laminate; Carpet
• Bathrooms: 1 full bathroom (Upper)
• Heating & cooling: Forced air heating; Central air conditioning; Electric hot water
• Interior features: Laminate flooring; Wall-to-wall carpet; Vinyl window frames; Crawl space basement
• Laundry & utility: Washer/dryer hookup available

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $229k.

Deal economics

• At list price, monthly cash flow is $-297 ($-4k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $226k (1.1% below list).
• Recommended offer: $226k (1.1% below list) — sets the bar for 1% rule.
• Cap rate 4.7% 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: Faubion Elementary School (610 students, 73% FRL); Da Vinci Middle School (434 students, 34% FRL); Jefferson High School (606 students, 64% FRL) — zoned schools average 57% FRL vs 37% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 306 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 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 $7k 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

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 25y ago 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: HOA is 22% of rent.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $226,473 (1.1% 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. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.99% ✗
• Cap rate: 4.73%
• Cash-on-cash: -5.57%
• DSCR: 0.75
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.89% rent growth · sell at horizon

5-year hold

• IRR: -28.9%
• Equity multiple: 0.06×
• Total profit: $-60,416
• Equity at exit: $34,145

10-year hold

• IRR: -45.1%
• Equity multiple: -0.47×
• Total profit: $-94,127
• Equity at exit: $19,800

Cash invested: $64,120 (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 97217

• Rents YoY: 0.9%
• Active inventory: 306
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,265 high
• Mortgage (P&I): −$1,201
• Tax est. 1.5%: −$286 /mo · $3,435/yr
• Insurance: −$95
• HOA est. from 1 same-building comp: −$504
• Vacancy / Maint / Mgmt: −$476
• Net cashflow: $-297

Break-even live

Break-even rent $2,641

Max offer price $185,962

Occupancy floor —

Sensitivity live

Price	-10% $-139	-5% $-218	+0% $-297	+5% $-377	+10% $-456
Rent	-10% $-476	-5% $-387	+0% $-297	+5% $-208	+10% $-119
Rate	-1.0pp $-182	-0.5pp $-239	base $-297	+0.5pp $-357	+1.0pp $-417

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
183 N Hayden Bay Dr Portland, OR	1.0	1.0	858	$1,800	$2.10	45d	1	0.24mi
123 N Hayden Bay Dr Portland, OR	2.0	1.0	889	$2,249	$2.53	45d	1	0.28mi
1245 N Anchor Way Portland, OR	2.0	1.0–2.0	868	$2,250	$2.59	0d	15	0.46mi
1055 N Anchor Way Portland, OR	1.0–2.0	1.0–2.0	1056	$3,150	$2.98	0d	35	0.47mi
910 N Harbour Dr Portland, OR	1.0–2.0	1.0–2.0	1002	$1,949	$1.94	0d	3	0.54mi
110 N Tomahawk Island Dr Portland, OR	1.0–2.0	1.0–2.0	994	$2,674	$2.69	0d	25	0.54mi
995 N Marine Dr Portland, OR	2.0	1.0–2.0	924	$2,036	$2.20	0d	11	0.55mi
11505 NE Yacht Harbor Dr Portland, OR	2.0	2.0	2559	$4,383	$1.71	0d	5	0.79mi
440 W Columbia Way Vancouver, WA	2.0	1.0–2.0	863	$4,682	$5.43	0d	149	0.86mi
500 W Columbia Way Vancouver, WA	2.0	1.0–2.0	849	$3,995	$4.71	0d	7	0.90mi
111 Parkway Pl Vancouver, WA	1.0–2.0	1.0–2.0	983	$4,995	$5.08	0d	3	0.92mi
411 Columbia St Vancouver, WA	2.0	1.0–2.0	836	$3,377	$4.04	0d	15	0.92mi
520 SE Columbia River Dr #420 Vancouver, WA	2.0	2.5	1350	$2,495	$1.85	23d	1	1.03mi
520 SE Columbia River Dr Vancouver, WA	2.0	2.0–2.5	1207	$2,395	$1.98	19d	2	1.03mi
636 W 6th St Vancouver, WA	1.0	1.0	707	$1,961	$2.77	0d	8	1.04mi
608 Washington St Vancouver, WA	2.0	1.0–2.0	903	$3,236	$3.58	0d	8	1.05mi
1111 W Columbia Way Vancouver, WA	2.0	1.0–2.5	857	$4,800	$5.60	0d	25	1.06mi
1000 W Columbia Way Vancouver, WA	1.0–2.0	1.0–2.0	835	$3,282	$3.93	0d	13	1.09mi
555 W 8th St Vancouver, WA	1.0–2.0	1.0	695	$1,630	$2.35	3d	11	1.10mi
1110 W Columbia Way Vancouver, WA	2.0	1.0–2.0	783	$3,849	$4.91	0d	10	1.10mi
701 Columbia St #107 Vancouver, WA	2.0	2.0	871	$1,995	$2.29	25d	1	1.11mi
300 W 8th St Vancouver, WA	1.0–2.0	1.0–2.0	915	$2,932	$3.20	0d	1	1.15mi
103 E Reserve St #103 Vancouver, WA	2.0	2.0	987	$2,150	$2.18	6d	1	1.21mi
202 E Reserve St #202 Vancouver, WA	2.0	2.0	1014	$1,995	$1.97	25d	1	1.25mi
204 E Reserve St #204 Vancouver, WA	2.0	2.0	993	$2,250	$2.27	6d	1	1.25mi
300 E 13th St Vancouver, WA	2.0	1.0–2.0	733	$2,100	$2.86	0d	8	1.43mi
608 R St Vancouver, WA	2.0	1.5	1024	$1,495	$1.46	9d	1	1.45mi
607 R St Apt E Vancouver, WA	2.0	1.5	850	$1,295	$1.52	25d	1	1.47mi
410 W Mill Plain Blvd Vancouver, WA	2.0	1.0–2.0	713	$1,646	$2.31	0d	6	1.47mi

HOA detail condo

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

Listing history 2 events

1. 2026-06-21
   days on market $229,000 Active 4 DOM
2. 2026-06-17
   listed $229,000 Active 1 DOM

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 52% 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: $27,177
• − Mortgage interest: −$12,828
• − Property taxes: −$3,435
• − Insurance: −$1,145
• − Repairs & maintenance: −$2,174
• − Management: −$2,174
• − HOA: −$6,048
• − Depreciation: −$6,662
• Taxable loss: −$7,289
• Est. tax savings @ 24.0%: +$1,749
• After-tax cash flow: $-1,820/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): 35,169
• Household income: $100,361
• Rent vs Own: 43.5% rent · 56.5% own
• Severe rent burden: 1532.0

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 (71%)
• Race & ethnicity: White 71% Two or more races 12% Hispanic / Latino 9% Black 7% Asian 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 5% Slovak 4% Portuguese 3%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 90% English-only · Spanish 4% Other Indo-European 1% Chinese 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: ▼ -747.13%
• Current HPI: 370.7526
• Rent YoY: ▲ 0.89%
• 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

+108.6% since first listed

11 events — show timeline

• 2026-06-17 Listed $229,000 RMLS
• 2021-04-02 Sold (MLS) $230,000 RMLS
• 2021-02-06 Pending — RMLS
• 2021-01-19 Listed $230,000 RMLS
• 2006-02-15 Sold (MLS) $147,450 RMLS
• 2006-01-14 Delisted — RMLS
• 2005-12-29 Listed $142,950 RMLS
• 2002-10-31 Sold (MLS) $109,900 RMLS
• 2002-08-08 Listed $109,900 RMLS
• 2001-10-12 Sold (MLS) $110,000 RMLS
• 2001-03-15 Listed $109,777 RMLS