3500 SE Concord Rd #8 · Oak Grove, OR 97267

$109,900

3 bd · 2.0 ba · 1,120 sqft · Other · 93 Days on market

Built 1973 $98/sqft · 67% above area

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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 +7.5/15.0
• Livability +4.2/5.0
• Schools +3.2/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to easy living in this quiet, established 55+ community, where comfort and convenience come together. This home offers peace of mind with numerous major system updates already completed, including a Trane gas furnace, water heater, and ADA ramp installed in 2023. In 2024, major updates include a new roof, insulation, double-pane vinyl windows, underbelly insulation, and wrapped ductwork for enhanced efficiency. Additional improvements continue with a heat pump and updated electrical outlets in 2025, along with a new electrical panel/fuse box, garbage disposal and fresh interior paint in 2026. Step outside to a fully fenced backyard with a privacy wall along the driveway—ideal for relaxing or entertaining. Covered front and back porches extend your living space year-round, while a storage shed adds extra convenience. Residents also enjoy access to the clubhouse, featuring a full kitchen, pool table, indoor and outdoor lounging areas, on-site laundry facilities, RV storage, picnic areas, and a dedicated dog park. Conveniently situated near restaurants, shopping, and public transportation, this home offers both comfort and community in a desirable location.

Key facts

• Trane gas furnace
• Water heater
• Ada ramp

Tags

• TRANE GAS FURNACE
• WATER HEATER
• ADA RAMP
• NEW ROOF
• DOUBLE-PANE VINYL WINDOWS
• UNDERBELLY INSULATION

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $110k.

Deal economics

• At list price, monthly cash flow is $784 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $100k (9.0% below list) — sets the bar for market timing.
• Cap rate 14.9% vs local median 2.7% in Oak Grove — 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 84/100 on livability (#37 in OR, #832 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: cost of living F.
• North Clackamas SD 12 (suburban): math 29% / reading 43% proficiency, ranked #22 of 58 in OR (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 176 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $760 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 0.8% rent growth), your $31k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 93 days — a 9% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 27y ago; this cycle's ask has dropped $20k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $21k; list at $110k implies a 423% gain — meaningful room to come down on a strong offer.

Recommended offer $100,009 (9.0% below list)

Questions for the listing agent

1. It's been on market 93 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 1973 — 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. 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 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: 1.78% ✓
• Cap rate: 14.85%
• Cash-on-cash: 30.56%
• DSCR: 2.36
• GRM: 4.7

CMA / ARV

• ARV (median comp): $65,830
• List price: $109,900
• Delta: 66.95%
• Verdict: OVERPRICED
• Comps: 11 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.81% rent growth · sell at horizon

5-year hold

• IRR: 22.8%
• Equity multiple: 1.91×
• Total profit: $27,923
• Equity at exit: $16,386

10-year hold

• IRR: 29.3%
• Equity multiple: 3.35×
• Total profit: $72,165
• Equity at exit: $9,502

Cash invested: $30,772 (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 97267

• Rents YoY: 0.8%
• Active inventory: 176
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,953 high
• Mortgage (P&I): −$576
• Tax est. 1.5%: −$137 /mo · $1,648/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $784

Break-even live

Break-even rent $961

Max offer price $109,900

Occupancy floor 55%

Sensitivity live

Price	-10% $860	-5% $822	+0% $784	+5% $746	+10% $708
Rent	-10% $629	-5% $707	+0% $784	+5% $861	+10% $938
Rate	-1.0pp $839	-0.5pp $812	base $784	+0.5pp $755	+1.0pp $726

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3624 SE Westview Ave Portland, OR	3.0	2.0	1052	$1,950	$1.85	16d	2	0.08mi
3412 SE Vineyard Rd Unit 1 Milwaukie, OR	2.0	2.0	1400	$1,950	$1.39	18d	1	0.26mi
15500 SE East Ave Unit 15530 Oak Grove, OR	2.0	1.5	900	$1,450	$1.61	23d	1	0.35mi
15318 SE Risley Ct Milwaukie, OR	2.0	1.0	1100	$2,395	$2.18	13d	1	0.36mi
4400 SE Naef Rd Portland, OR	1.0–2.0	1.0–2.0	863	$1,620	$1.88	9d	9	0.55mi
4400 SE Naef Rd Unit F30 Milwaukie, OR	2.0	2.0	1010	$1,620	$1.60	25d	1	0.56mi
15607 SE Meadowlark Ln Portland, OR	3.0	2.5	1336	$2,695	$2.02	23d	1	0.58mi
4545 SE Ina Ave Portland, OR	2.0	1.0	900	$1,495	$1.66	3d	1	0.86mi
3025 SE Maple St Unit 4 Portland, OR	2.0	1.0	900	$1,695	$1.88	9d	1	0.87mi
3025 SE Maple St Portland, OR	2.0	1.0	900	$1,695	$1.88	21d	1	0.87mi
15303 SE Lee Ave Portland, OR	3.0	1.0	1398	$2,795	$2.00	45d	1	0.87mi
4713 SE Ina Ave Portland, OR	3.0	1.5	1300	$2,395	$1.84	9d	1	0.89mi
4807 SE Boardman Ave Unit 2 Portland, OR	3.0	1.0	986	$1,895	$1.92	45d	1	0.97mi
4803 SE Boardman Ave Milwaukie, OR	3.0	1.0	986	$1,895	$1.92	45d	1	1.00mi
4803 SE Boardman Ave Unit 0702 Milwaukie, OR	3.0	1.0	986	$1,895	$1.92	25d	1	1.00mi
4800 SE Boardman Ave Apt 6 Milwaukie, OR	2.0	1.0	830	$1,595	$1.92	5d	1	1.03mi
3190 Furman Dr Lake Oswego, OR	1.0–2.0	1.0	648	$1,554	$2.40	45d	1	1.04mi
14832 SE Cedar Ave Unit 3 Milwaukie, OR	2.0	1.0	850	$1,395	$1.64	13d	1	1.07mi
13822 SE Oatfield Rd Unit 3C Milwaukie, OR	3.0	2.5	1385	$2,595	$1.87	18d	1	1.11mi
18101 SE Arista Dr Apt 5 Milwaukie, OR	2.0	1.0	800	$1,695	$2.12	16d	1	1.20mi
17966 SE Addie St Portland, OR	2.0	1.0	850	$1,500	$1.76	45d	1	1.23mi
14020 SE Arista Dr Portland, OR	2.0	1.5	970	$1,900	$1.96	45d	1	1.23mi
2301 SE Courtney Ave Unit 10 Oak Grove, OR	2.0	1.0	962	$1,295	$1.35	25d	1	1.25mi
2295 SE Courtney Ave Portland, OR	2.0	1.0	962	$1,295	$1.35	25d	1	1.27mi
2311 SE Courtney Ave Portland, OR	2.0	1.5	1000	$1,795	$1.79	25d	1	1.28mi
13500 SE Linden Ln Portland, OR	2.0	1.0	750	$1,500	$2.00	25d	1	1.36mi
18484 SE Abernethy Ln Portland, OR	2.0	1.5	1100	$1,440	$1.31	3d	1	1.48mi

Listing history 18 events

1. 2026-06-21
   days on market $109,900 Active 93 DOM
2. 2026-06-18
   days on market $109,900 Active 90 DOM
3. 2026-06-17
   days on market $109,900 Active 89 DOM
4. 2026-06-16
   days on market $109,900 Active 88 DOM
5. 2026-06-15
   days on market $109,900 Active 87 DOM
6. 2026-06-13
   days on market $109,900 Active 85 DOM
7. 2026-06-09
   days on market $109,900 Active 81 DOM
8. 2026-06-08
   days on market $109,900 Active 80 DOM
9. 2026-06-07
   days on market $109,900 Active 79 DOM
10. 2026-06-05
    days on market $109,900 Active 76 DOM
11. 2026-06-03
    days on market $109,900 Active 75 DOM
12. 2026-06-02
    days on market $109,900 Active 74 DOM
13. 2026-06-01
    days on market $109,900 Active 73 DOM
14. 2026-05-31
    days on market $109,900 Active 72 DOM
15. 2026-04-22
    price $119,900 1186-char remark

    Show marketing remark (1186 chars)

    Welcome to easy living in this quiet, established 55+ community, where comfort and convenience come together. This home offers peace of mind with numerous major system updates already completed, including a Trane gas furnace, water heater, and ADA ramp installed in 2023. In 2024, major updates include a new roof, insulation, double-pane vinyl windows, underbelly insulation, and wrapped ductwork for enhanced efficiency. Additional improvements continue with a heat pump and updated electrical outlets in 2025, along with a new electrical panel/fuse box, garbage disposal and fresh interior paint in 2026. Step outside to a fully fenced backyard with a privacy wall along the driveway—ideal for relaxing or entertaining. Covered front and back porches extend your living space year-round, while a storage shed adds extra convenience. Residents also enjoy access to the clubhouse, featuring a full kitchen, pool table, indoor and outdoor lounging areas, on-site laundry facilities, RV storage, picnic areas, and a dedicated dog park. Conveniently situated near restaurants, shopping, and public transportation, this home offers both comfort and community in a desirable location.

16. 2026-03-20
    listed $129,900 Active 1186-char remark

    Show marketing remark (1186 chars)

    Welcome to easy living in this quiet, established 55+ community, where comfort and convenience come together. This home offers peace of mind with numerous major system updates already completed, including a Trane gas furnace, water heater, and ADA ramp installed in 2023. In 2024, major updates include a new roof, insulation, double-pane vinyl windows, underbelly insulation, and wrapped ductwork for enhanced efficiency. Additional improvements continue with a heat pump and updated electrical outlets in 2025, along with a new electrical panel/fuse box, garbage disposal and fresh interior paint in 2026. Step outside to a fully fenced backyard with a privacy wall along the driveway—ideal for relaxing or entertaining. Covered front and back porches extend your living space year-round, while a storage shed adds extra convenience. Residents also enjoy access to the clubhouse, featuring a full kitchen, pool table, indoor and outdoor lounging areas, on-site laundry facilities, RV storage, picnic areas, and a dedicated dog park. Conveniently situated near restaurants, shopping, and public transportation, this home offers both comfort and community in a desirable location.

17. 1999-09-13
    soldstatus $21,000 191-char remark

    Show marketing remark (191 chars)

    HOME IS IN GREAT 55+ PARK! PARK AMENITIES INCLUDE HEATING SWIMMING POOL, LAUNDRY FACILITIES AND RECREATION HALL. PARK IS CLOSE TO HOLLY FARM MALL. CALL RICHARD FOR DETAILS AT 654-5362 EXT 56.

18. 1999-03-25
    listed $21,950 191-char remark

    Show marketing remark (191 chars)

    HOME IS IN GREAT 55+ PARK! PARK AMENITIES INCLUDE HEATING SWIMMING POOL, LAUNDRY FACILITIES AND RECREATION HALL. PARK IS CLOSE TO HOLLY FARM MALL. CALL RICHARD FOR DETAILS AT 654-5362 EXT 56.

ⓘ 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 ≥94°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 18 unhealthy d/yr today · 20 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,441
• − Mortgage interest: −$6,156
• − Property taxes: −$1,648
• − Insurance: −$550
• − Repairs & maintenance: −$1,875
• − Management: −$1,875
• − Depreciation: −$3,197
• Taxable income: $8,139
• Est. tax owed @ 24.0%: −$1,953
• After-tax cash flow: $7,451/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: North Clackamas SD 12
• NCES district ID: 4108830
• Math proficiency: 29% ▼ -14.00%
• Reading proficiency: 43% ▼ -13.00%
• Median HH income: $60,217
• Composite: 32.1/100
• National rank: #5807
• State rank: #22 of 58 in OR

Livability — Oak Grove

• Score: 84/100
• State rank: #37
• US rank: #832

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oak Grove, OR
• County: Clackamas County · 361,406 people
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 31,311
• Household income: $87,418
• Rent vs Own: 28.2% rent · 71.8% own
• Severe rent burden: 1226.0

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 (78%)
• Race & ethnicity: White 78% Hispanic / Latino 12% Two or more races 10% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Portuguese 5% Lithuanian 4% Italian 3%
• Foreign-born: 8% · Canada
• Languages at home: 88% English-only · Spanish 7% Russian/Polish/Slavic 2% Other Indo-European 1%

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: ▼ -526.38%
• Current HPI: 292.1818
• Rent YoY: ▲ 0.81%
• 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

+446.2% since first listed

4 events — show timeline

• 2026-04-22 Price Changed $119,900 RMLS
• 2026-03-20 Listed $129,900 RMLS
• 1999-09-13 Sold (MLS) $21,000 RMLS
• 1999-03-25 Listed $21,950 RMLS

Property tax history

+0.3%/yr

Latest (2018): $191 · +0.2% YoY. Source: county tax records.