8750 SE 155th Ave #22 · Happy Valley, OR 97086

$145,000

2 bd · 2.0 ba · 920 sqft · Other · 40 Days on market

Built 1990 $158/sqft · 42% above area Est $102k · 42% over ↓ 3% since listing

---

Why this score? — see what drove the C+ 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
• Livability +3.8/5.0
• Schools +3.5/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Experience the ultimate "cabin in the woods" lifestyle in this meticulously remodeled craftsman home, where high-end luxury meets modern energy efficiency. Nestled in a secluded, serene setting that is surrounded by a lush urban forest, this residence offers the rare opportunity to enjoy nature’s tranquility while remaining just minutes from the conveniences of town. Every detail of the 2-bedroom, 2-bathroom layout has been thoughtfully planned for functionality, featuring a bright, open-concept living area enhanced by new oak style plank flooring, new designer fixtures, and a gourmet kitchen complete with stainless steel appliances. The 2-bathroom offers a Soft-close vanity

Key facts

• Gourmet kitchen
• New paint
• Private storage shed

Tags

• GOURMET KITCHEN
• HIGH EFFICIENCY HEAT PUMP
• NEW PAINT
• PRIVATE STORAGE SHED

Property features AI

Finance

• Other: Park manager contact available; Not a senior community
• HOA & community: Community provides management, water and sewer; Land lease in effect (land lease expires April 1, 2027); Monthly lot rent noted

Exterior

• Parking: Carport; Off-street parking
• Security: Entry security (unspecified)
• Utilities: Electric fuel; Private water; Public sewer; Internet service (other)
• Home design: Manufactured home in a park; Residential property; Not attached; Main living area (920); 1990 construction
• Construction: Composition roof; Block foundation
• Exterior features: Yard; Wood composite exterior; Concrete road access; Trees on lot; Territorial and trees/woods view

Interior

• Kitchen: Built-in oven; Stainless steel appliances
• Bedrooms: Primary bedroom on main level; Second bedroom on main level
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Heat pump; Central air conditioning
• Interior features: Laundry; Soaking tub; Vaulted ceilings; Double-pane windows; Walk-in shower (accessibility feature); Crawl space basement
• Laundry & utility: Laundry area; Electric hot water

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $145k.

Deal economics

• At list price, monthly cash flow is $950 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $141k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.2% vs local median 2.5% in Happy Valley — 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 76/100 on livability (#76 in OR, #3,386 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, cost of living F.
• Centennial SD 28J (suburban): math 31% / reading 43% proficiency, ranked #125 of 183 in OR (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Centennial Middle School (876 students, 68% FRL); Centennial High School (1,756 students, 65% FRL).
• Market conditions: Rents rising (+1.9%/yr); 344 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $1k of loan paydown is wiped out by about $4k 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 + 1.9% rent growth), your $41k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.

Recommended offer $140,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. 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: 1.58% ✓
• Cap rate: 14.16%
• Cash-on-cash: 28.08%
• DSCR: 2.25
• GRM: 5.3

CMA / ARV

• ARV (median comp): $102,006
• List price: $145,000
• Delta: 42.15%
• Verdict: OVERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.89% rent growth · sell at horizon

5-year hold

• IRR: 21.1%
• Equity multiple: 1.85×
• Total profit: $34,429
• Equity at exit: $21,620

10-year hold

• IRR: 28.5%
• Equity multiple: 3.40×
• Total profit: $97,521
• Equity at exit: $12,537

Cash invested: $40,600 (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 97086

• Rents YoY: 1.9%
• Active inventory: 344
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $2,294 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$41 /mo · $492/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$482
• Net cashflow: $950

Break-even live

Break-even rent $1,091

Max offer price $145,000

Occupancy floor 54%

Sensitivity live

Price	-10% $1,032	-5% $991	+0% $950	+5% $909	+10% $868
Rent	-10% $769	-5% $859	+0% $950	+5% $1,041	+10% $1,131
Rate	-1.0pp $1,023	-0.5pp $987	base $950	+0.5pp $913	+1.0pp $874

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12927 SE Ridgecrest Rd Happy Valley, OR	2.0	1.0	842	$2,395	$2.84	24d	1	1.29mi
12929 SE Ridgecrest Rd Happy Valley, OR	2.0	1.0	842	$2,395	$2.84	44d	1	1.29mi
12917 SE Ridgecrest Rd Happy Valley, OR	2.0	1.0	842	$2,295	$2.73	44d	1	1.30mi
11386 SE Pleasant Valley Pkwy Happy Valley, OR	1.0–2.0	1.0–2.0	1001	$2,855	$2.85	2d	17	1.41mi

Listing history 14 events

1. 2026-06-18
   days on market $145,000 Active 40 DOM
2. 2026-06-17
   days on market $145,000 Active 39 DOM
3. 2026-06-16
   days on market $145,000 Active 38 DOM
4. 2026-06-15
   days on market $145,000 Active 37 DOM
5. 2026-06-13
   days on market $145,000 Active 35 DOM
6. 2026-06-13
   days on market $145,000 Active 34 DOM
7. 2026-06-09
   days on market $145,000 Active 31 DOM
8. 2026-06-07
   pricedays on market $145,000 Active 29 DOM
9. 2026-06-05
   days on market $149,000 Active 26 DOM
10. 2026-06-03
    days on market $149,000 Active 25 DOM
11. 2026-06-02
    days on market $149,000 Active 24 DOM
12. 2026-06-01
    days on market $149,000 Active 23 DOM
13. 2026-05-31
    days on market $149,000 Active 22 DOM
14. 2026-05-09
    listed $149,000 Active 1988-char remark

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

Tax reassessment forecast OR · Resets to sale price

• Current annual tax: $492 · $41/mo
• Projected year-2 tax: $1,406 · $117/mo
• Expected delta: +$914/yr (+$76/mo · 185.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥91°F today · 14 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: $27,523
• − Mortgage interest: −$8,122
• − Property taxes: −$492
• − Insurance: −$725
• − Repairs & maintenance: −$2,202
• − Management: −$2,202
• − Depreciation: −$4,218
• Taxable income: $9,561
• Est. tax owed @ 24.0%: −$2,295
• After-tax cash flow: $9,106/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: Centennial SD 28J
• NCES district ID: 4102800
• Math proficiency: 31% ▼ -2.00%
• Reading proficiency: 43% ▼ -2.00%
• Median HH income: $49,619
• Composite: 34.5/100
• National rank: #10133
• State rank: #125 of 183 in OR

Livability — Happy Valley

• Score: 76/100
• State rank: #76
• US rank: #3386

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Happy Valley, OR
• County: Clackamas County · 361,406 people
• City population: 34,567
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 34,567
• Household income: $102,359
• Rent vs Own: 37.3% rent · 62.7% own
• Severe rent burden: 1281.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 63% Asian 17% Two or more races 12% Hispanic / Latino 9% Black 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 4% Portuguese 4% Lithuanian 2%
• Foreign-born: 18% · Canada, Vietnam, China
• Languages at home: 79% English-only · Spanish 5% Vietnamese 3% Chinese 3%

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: ▼ -279.06%
• Current HPI: 261.5208
• Rent YoY: ▲ 1.89%
• 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

-2.7% since first listed

2 events — show timeline

• 2026-06-06 Price Changed $145,000 RMLS
• 2026-05-09 Listed $149,000 RMLS

Property tax history

+4.3%/yr

Latest (2025): $492 · +4.3% YoY. Source: county tax records.