19776 SE Stark St #147 · Gresham, OR 97233

$73,000

2 bd · 2.0 ba · 960 sqft · Manufactured public records · 115 Days on market

Built 1970 $76/sqft · at area comps Est $76k · at est. ↓ 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +9.3/15.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A true hidden gem! Tucked away on a quiet street, this charming home offers exceptional privacy and comfort in a wonderful senior community. Enjoy outdoor living on the spacious covered deck, overlooking a yard perfect for your inner gardener, complete with a newer oversized Tuff shed plus an additional shed for garden tools. Inside, you’ll find a large living room and formal dining area that flow beautifully into a charming, updated kitchen featuring tall cabinetry, stainless steel appliances, tile countertops, built-in cubbies, and a fantastic pantry. A tasteful mix of luxury flooring, upgraded carpet, and tile runs throughout, complemented by new LED lighting and stylish ceiling fans that truly elevate the space. The primary suite is generously sized with an en-suite bath, walk-in closet, and walk-in stall shower. The hall bath offers a full-size walk-in shower as well. Off the back of the home, the sun porch/laundry room is an absolute standout—an amazing everyday space with storage shelving, washer, dryer, and freezer all thoughtfully arranged for maximum convenience. Perfect for downsizing without compromise, this warm and inviting home is ideally located close to shopping, dining, and public transportation. A rare blend of privacy, functionality, and charm—this one is special.

Key facts

• Tall cabinetry
• Tile countertops
• Updated kitchen

Tags

• SPACIOUS COVERED DECK
• NEWER OVERSIZED TUFF SHED
• UPDATED KITCHEN
• TALL CABINETRY
• STAINLESS STEEL APPLIANCES
• TILE COUNTERTOPS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $73k.

Deal economics

• At list price, monthly cash flow is $659 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $73k).
• Recommended offer: $66k (9.0% below list) — sets the bar for market timing.
• Cap rate 17.1% vs local median 2.8% in Gresham — 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 81/100 on livability (#51 in OR, #1,537 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: schools C-, cost of living D, crime D-.
• Reynolds SD 7 (suburban): math 21% / reading 36% proficiency, ranked #162 of 183 in OR (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 153 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); 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 $505 of loan paydown is wiped out by about $2k 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 + 1.0% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 115 days — a 9% lower offer ($66k) is reasonable based on typical stale-listing flexibility.

Recommended offer $66,430 (9.0% below list)

Questions for the listing agent

1. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is D 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?
6. 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.
7. 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.
8. 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: 2.02% ✓
• Cap rate: 17.13%
• Cash-on-cash: 38.72%
• DSCR: 2.72
• GRM: 4.1

CMA / ARV

• ARV (median comp): $76,070
• List price: $73,000
• Delta: -4.04%
• Verdict: FAIR
• Comps: 5 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19776 SE Stark St #67	0.14mi	2/2.0	1,000 (+4%)	21mo	$63,500	$64	69

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.96% rent growth · sell at horizon

5-year hold

• IRR: 32.6%
• Equity multiple: 2.33×
• Total profit: $27,231
• Equity at exit: $10,885

10-year hold

• IRR: 38.5%
• Equity multiple: 4.24×
• Total profit: $66,212
• Equity at exit: $6,312

Cash invested: $20,440 (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 97233

• Rents YoY: 1.0%
• Active inventory: 153
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,473 high
• Mortgage (P&I): −$383
• Tax est. 1.5%: −$91 /mo · $1,095/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $659

Break-even live

Break-even rent $639

Max offer price $73,000

Occupancy floor 50%

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: $18,250
• Closing costs: $2,190
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19550 E Burnside St Portland, OR	1.0–2.0	1.0	650	$1,350	$2.08	2d	3	0.18mi
768 SE 193rd Ave Portland, OR	1.0	1.0	600	$1,025	$1.71	2d	1	0.24mi
468 SE 202nd Ave Portland, OR	1.0–2.0	1.0	715	$1,625	$2.27	14d	4	0.28mi
19213 SE Yamhill St Portland, OR	1.0–2.0	1.0	625	$1,325	$2.12	23d	1	0.30mi
20121 SE Stark St Portland, OR	1.0–3.0	1.0–2.0	873	$1,714	$1.96	2d	5	0.32mi
19109 SE Yamhill St Unit D Portland, OR	1.0	1.0	620	$1,095	$1.77	43d	1	0.35mi
19109 SE Yamhill St Unit B Portland, OR	1.0	1.0	620	$1,095	$1.77	23d	1	0.35mi
19115 SE Yamhill St Portland, OR	1.0	1.0	620	$1,095	$1.77	23d	1	0.35mi
459 SE 192nd Ave Portland, OR	2.0–3.0	1.0–2.0	1065	$1,695	$1.59	2d	7	0.37mi
19100 E Burnside St Portland, OR	1.0–2.0	1.0–2.0	863	$1,538	$1.78	43d	1	0.41mi
18837 SE Yamhill St Portland, OR	2.0	2.0	1051	$1,422	$1.35	2d	5	0.48mi
611 SE 190th Ave Apt 111 Portland, OR	2.0	1.0	800	$1,399	$1.75	43d	1	0.48mi
618 SE 187th Ave Unit 101 Portland, OR	2.0	1.0	850	$1,350	$1.59	43d	1	0.55mi
615 SE 187th Ave Unit 12 Portland, OR	2.0	1.0	790	$1,375	$1.74	3d	1	0.58mi
911 SE 187th Ave Apt 108 Portland, OR	2.0	1.0	850	$1,350	$1.59	7d	1	0.58mi
911 SE 187th Ave Unit 207 Portland, OR	2.0	1.0	850	$1,350	$1.59	43d	1	0.58mi
911 SE 187th Ave Unit 103 Portland, OR	2.0	1.0	850	$1,450	$1.71	43d	1	0.62mi
18618 E Burnside St Portland, OR	2.0	1.0–2.0	803	$2,375	$2.96	2d	25	0.63mi
783 SE 185th Ave Portland, OR	1.0–3.0	1.0–2.0	861	$1,634	$1.90	2d	10	0.65mi
20220 NE Glisan St Portland, OR	1.0–2.0	1.0	767	$1,595	$2.08	3d	2	0.69mi
18427 SE Yamhill St Unit 18427 Portland, OR	2.0	1.0	840	$1,499	$1.78	43d	1	0.70mi
18411 E Burnside St Apt 202 Portland, OR	2.0	1.0	800	$1,495	$1.87	1d	1	0.78mi
18411 E Burnside St Unit 205 Portland, OR	2.0	1.0	800	$1,395	$1.74	4d	1	0.78mi
18411 E Burnside St Portland, OR	2.0	1.0	800	$1,395	$1.74	43d	1	0.78mi
635 SE 182nd Ave Unit 741 Portland, OR	2.0	1.0	840	$1,300	$1.55	43d	1	0.83mi
635 SE 182nd Ave Unit 669 Portland, OR	1.0	1.0	600	$1,150	$1.92	23d	1	0.83mi
18245 E Burnside St Unit 111 Portland, OR	2.0	1.0	750	$1,395	$1.86	16d	1	0.86mi
1132 NW Birdsdale Ave Gresham, OR	1.0–3.0	1.0–2.5	1136	$1,994	$1.75	4d	7	0.88mi
19045 SE Division St Unit 19047 Gresham, OR	3.0	2.0	1018	$1,850	$1.82	23d	1	0.92mi
17920 SE Stark St Unit 4 Portland, OR	1.0	1.0	560	$1,150	$2.05	43d	1	0.96mi
17925 E Burnside St Unit 105 Portland, OR	1.0	1.0	640	$1,300	$2.03	43d	1	1.04mi
1699 NW Civic Dr Gresham, OR	2.0	1.0–2.0	811	$2,544	$3.14	17d	27	1.06mi
17782 E Burnside St Portland, OR	2.0–3.0	1.0	960	$1,295	$1.35	4d	4	1.09mi
203 SE 176th Pl Portland, OR	2.0	1.0	1088	$1,495	$1.37	21d	1	1.15mi
19849 NE Halsey St Unit 115 Portland, OR	2.0	1.0	768	$1,360	$1.77	23d	1	1.18mi
19849 NE Halsey St Unit 110 Portland, OR	3.0	2.0	895	$1,870	$2.09	17d	1	1.18mi
1559 NE 201st Ave Fairview, OR	2.0	1.0	860	$1,475	$1.72	43d	1	1.18mi
1559 NE 201st Ave Unit 104 Fairview, OR	2.0	1.0	860	$1,475	$1.72	23d	1	1.18mi
19849 NE Halsey St Unit 123 Portland, OR	2.0	1.0	768	$1,295	$1.69	43d	1	1.19mi
17439 SE Stark St Apt 114 Portland, OR	2.0	1.0	825	$1,350	$1.64	43d	1	1.19mi

Listing history 16 events

1. 2026-06-18
   days on market $73,000 Active 115 DOM
2. 2026-06-17
   days on market $73,000 Active 114 DOM
3. 2026-06-16
   days on market $73,000 Active 113 DOM
4. 2026-06-15
   days on market $73,000 Active 112 DOM
5. 2026-06-13
   days on market $73,000 Active 110 DOM
6. 2026-06-13
   days on market $73,000 Active 109 DOM
7. 2026-06-09
   days on market $73,000 Active 106 DOM
8. 2026-06-08
   pricedays on market $73,000 Active 105 DOM
9. 2026-06-07
   days on market $75,000 Active 104 DOM
10. 2026-06-03
    days on market $75,000 Active 100 DOM
11. 2026-06-02
    days on market $75,000 Active 99 DOM
12. 2026-06-01
    days on market $75,000 Active 98 DOM
13. 2026-05-31
    days on market $75,000 Active 97 DOM
14. 2026-05-16
    status Pending 1325-char remark

    Show marketing remark (1325 chars)

    A true hidden gem! Tucked away on a quiet street, this charming home offers exceptional privacy and comfort in a wonderful senior community. Enjoy outdoor living on the spacious covered deck, overlooking a yard perfect for your inner gardener, complete with a newer oversized Tuff shed plus an additional shed for garden tools. Inside, you’ll find a large living room and formal dining area that flow beautifully into a charming, updated kitchen featuring tall cabinetry, stainless steel appliances, tile countertops, built-in cubbies, and a fantastic pantry. A tasteful mix of luxury flooring, upgraded carpet, and tile runs throughout, complemented by new LED lighting and stylish ceiling fans that truly elevate the space. The primary suite is generously sized with an en-suite bath, walk-in closet, and walk-in stall shower. The hall bath offers a full-size walk-in shower as well. Off the back of the home, the sun porch/laundry room is an absolute standout—an amazing everyday space with storage shelving, washer, dryer, and freezer all thoughtfully arranged for maximum convenience. Perfect for downsizing without compromise, this warm and inviting home is ideally located close to shopping, dining, and public transportation. A rare blend of privacy, functionality, and charm—this one is special.

15. 2026-04-15
    price $75,000 1325-char remark

    Show marketing remark (1325 chars)

    A true hidden gem! Tucked away on a quiet street, this charming home offers exceptional privacy and comfort in a wonderful senior community. Enjoy outdoor living on the spacious covered deck, overlooking a yard perfect for your inner gardener, complete with a newer oversized Tuff shed plus an additional shed for garden tools. Inside, you’ll find a large living room and formal dining area that flow beautifully into a charming, updated kitchen featuring tall cabinetry, stainless steel appliances, tile countertops, built-in cubbies, and a fantastic pantry. A tasteful mix of luxury flooring, upgraded carpet, and tile runs throughout, complemented by new LED lighting and stylish ceiling fans that truly elevate the space. The primary suite is generously sized with an en-suite bath, walk-in closet, and walk-in stall shower. The hall bath offers a full-size walk-in shower as well. Off the back of the home, the sun porch/laundry room is an absolute standout—an amazing everyday space with storage shelving, washer, dryer, and freezer all thoughtfully arranged for maximum convenience. Perfect for downsizing without compromise, this warm and inviting home is ideally located close to shopping, dining, and public transportation. A rare blend of privacy, functionality, and charm—this one is special.

16. 2026-02-10
    listed $79,000 Active 1325-char remark

    Show marketing remark (1325 chars)

    A true hidden gem! Tucked away on a quiet street, this charming home offers exceptional privacy and comfort in a wonderful senior community. Enjoy outdoor living on the spacious covered deck, overlooking a yard perfect for your inner gardener, complete with a newer oversized Tuff shed plus an additional shed for garden tools. Inside, you’ll find a large living room and formal dining area that flow beautifully into a charming, updated kitchen featuring tall cabinetry, stainless steel appliances, tile countertops, built-in cubbies, and a fantastic pantry. A tasteful mix of luxury flooring, upgraded carpet, and tile runs throughout, complemented by new LED lighting and stylish ceiling fans that truly elevate the space. The primary suite is generously sized with an en-suite bath, walk-in closet, and walk-in stall shower. The hall bath offers a full-size walk-in shower as well. Off the back of the home, the sun porch/laundry room is an absolute standout—an amazing everyday space with storage shelving, washer, dryer, and freezer all thoughtfully arranged for maximum convenience. Perfect for downsizing without compromise, this warm and inviting home is ideally located close to shopping, dining, and public transportation. A rare blend of privacy, functionality, and charm—this one is special.

ⓘ 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 ≥91°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 23 unhealthy d/yr today · 27 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,680
• − Mortgage interest: −$4,089
• − Property taxes: −$1,095
• − Insurance: −$365
• − Repairs & maintenance: −$1,414
• − Management: −$1,414
• − Depreciation: −$2,124
• Taxable income: $7,179
• Est. tax owed @ 24.0%: −$1,723
• After-tax cash flow: $6,191/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: Reynolds SD 7
• NCES district ID: 4110520
• Math proficiency: 21% ▬ 0.00%
• Reading proficiency: 36% ▬ 0.00%
• Median HH income: $45,502
• Composite: 27.4/100
• National rank: #12399
• State rank: #162 of 183 in OR

Livability — Gresham

• Score: 81/100
• State rank: #51
• US rank: #1537

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gresham, OR
• County: Multnomah County · 786,692 people
• City population: 86,119
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 36,236
• Household income: $60,198
• Rent vs Own: 53.0% rent · 47.0% own
• Severe rent burden: 2541.0

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: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 51% Hispanic / Latino 23% Two or more races 13% Asian 9% Black 9% Native American 2%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Scotch-Irish 4% Portuguese 3% Subsaharan African 3%
• Foreign-born: 25% · Canada, Vietnam, China
• Languages at home: 61% English-only · Spanish 18% Russian/Polish/Slavic 7% Other Asian/Pacific 3%

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: ▼ -493.14%
• Current HPI: 302.1015
• Rent YoY: ▲ 0.96%
• 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

-5.1% since first listed

3 events — show timeline

• 2026-05-16 Pending — RMLS
• 2026-04-15 Price Changed $75,000 RMLS
• 2026-02-10 Listed $79,000 RMLS

Property tax history

-39.5%/yr

Latest (2015): $6 · +0.0% YoY. Source: county tax records.