2511 SE River Rd #88 · Hillsboro, OR 97123

$80,000

2 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 70 Days on market

Built 1979 $69/sqft · at area comps Est $81k · at est.

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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 +8.1/15.0
• Livability +4.4/5.0
• Schools +3.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming one-level manufactured home in Hillsboro, offering comfort, space, and an abundance of natural light. Featuring 2 bedrooms and 2 bathrooms, this inviting home boasts a bright and airy living room with high vaulted ceilings and oversized windows that fill the space with sunshine, creating an open yet cozy atmosphere.The dining area also enjoys large windows, along with a ceiling fan and built-in features that add both character and functionality. The kitchen is well-equipped with tile flooring, a built-in dishwasher, double sinks, a pantry, and a convenient eating area—perfect for everyday living.Both bedrooms feature wall-to-wall carpet, while the spacious primary suite includes an ensuite bathroom complete with a walk-in shower and a relaxing soaking tub. A dedicated laundry room adds to the home's practicality.Outside, you’ll find two covered carport spaces and a fenced yard area, ideal for outdoor enjoyment. The standout feature is the large, welcoming front porch—perfect for relaxing and taking in the peaceful surroundings.This home offers a wonderful blend of comfort, charm, and functionality in a convenient location.

Key facts

• Built in dishwasher
• Built in features
• Tile flooring

Tags

• ONE LEVEL MANUFACTURED HOME
• HIGH VAULTED CEILINGS
• OVERSIZED WINDOWS
• BUILT IN FEATURES
• TILE FLOORING
• BUILT IN DISHWASHER

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $80k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.
• Cap rate 22.7% vs local median 2.9% in Hillsboro — 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 87/100 on livability (#13 in OR, #282 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: crime D+, cost of living F.
• Hillsboro SD 1J (urban): math 35% / reading 46% proficiency, ranked #13 of 58 in OR (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-1.4%/yr); 425 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 41% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 2,224 units permitted in Washington County in 2024 (242 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Washington County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 24y ago; this cycle's ask has dropped $7k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $13k; list at $80k implies a 515% gain — meaningful room to come down on a strong offer.

Recommended offer $75,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — 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: 2.60% ✓
• Cap rate: 22.69%
• Cash-on-cash: 58.55%
• DSCR: 3.61
• GRM: 3.2

CMA / ARV

• ARV (median comp): $81,073
• List price: $80,000
• Delta: -1.32%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2511 SE River Rd #101	0.03mi	2/2.0	1,152 (0%)	9mo	$101,000	$88	91
2681 SE River Rd #52	0.12mi	2/2.0	1,120 (-3%)	2mo	$80,000	$71	88
2511 SE River Rd #98	0.03mi	2/2.0	1,152 (0%)	14mo	$74,999	$65	87
2681 SE River Rd #9	0.07mi	2/2.0	1,200 (+4%)	6mo	$88,000	$73	84
2511 SE River Rd #94	0.04mi	2/2.0	1,113 (-3%)	14mo	$92,500	$83	81
2681 SE River Rd #31	0.08mi	3/2.0 (+1)	1,100 (-4%)	8mo	$36,240	$33	77
2681 SE River Rd #32	0.08mi	3/2.0 (+1)	1,120 (-3%)	11mo	$82,500	$74	77
2681 SE River Rd #5	0.07mi	2/2.0	1,188 (+3%)	21mo	$109,000	$92	74
1901 SE Minter Bridge Rd	0.37mi	2/2.0	1,232 (+7%)	23mo	$80,000	$65	52
1901 SE Minter Bridge Rd #99	0.38mi	3/2.0 (+1)	980 (-15%)	6mo	$35,000	$36	47

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 53.7%
• Equity multiple: 3.26×
• Total profit: $50,571
• Equity at exit: $11,928

10-year hold

• IRR: 57.7%
• Equity multiple: 5.92×
• Total profit: $110,201
• Equity at exit: $6,917

Cash invested: $22,400 (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 97123

• Rents YoY: -1.4%
• Active inventory: 425
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $2,083 high
• Mortgage (P&I): −$420
• Tax est. 1.5%: −$100 /mo · $1,200/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $1,093

Break-even live

Break-even rent $700

Max offer price $80,000

Occupancy floor 43%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3041 SE Timberlake Dr Hillsboro, OR	3.0	2.0	1269	$2,395	$1.89	23d	1	0.47mi
2933 SE 38th Ct Hillsboro, OR	3.0	1.5	1088	$1,950	$1.79	43d	1	0.68mi
1177 SE Fir Grove Loop Hillsboro, OR	3.0	2.0	1200	$2,499	$2.08	43d	1	0.86mi
2725 SE 44th Ct Hillsboro, OR	3.0	2.0	1050	$2,245	$2.14	43d	1	0.90mi
1410 SE Alder St Hillsboro, OR	3.0	2.0	1332	$2,495	$1.87	43d	1	0.99mi
1535 SE Maple St Hillsboro, OR	2.0	1.0	766	$1,485	$1.94	7d	1	1.09mi
800 SE 10th Ave Hillsboro, OR	1.0–3.0	1.0	750	$1,595	$2.13	2d	4	1.17mi
760 SE 10th Ave Unit 10 Hillsboro, OR	2.0	1.0	717	$1,525	$2.13	23d	1	1.20mi
530 SE 12th Ave Hillsboro, OR	3.0	1.5	1287	$2,800	$2.18	43d	1	1.24mi
2400 SE Brookwood Ave Hillsboro, OR	2.0	1.0	864	$1,449	$1.68	17d	2	1.27mi
470 SE 12th Ave Hillsboro, OR	1.0	1.0	725	$1,400	$1.93	23d	1	1.28mi
117 NE 25th Ave Hillsboro, OR	1.0–2.0	1.0–2.0	893	$1,659	$1.86	11d	7	1.33mi
117 NE 25th Ave Hillsboro, OR	1.0	1.0	751	$1,459	$1.94	23d	1	1.33mi
1049 SE Walnut St Unit 7 Hillsboro, OR	2.0	1.0	800	$1,495	$1.87	43d	1	1.36mi
4264 SE Oak St Hillsboro, OR	3.0	1.5	1025	$2,300	$2.24	4d	1	1.36mi
148 NE 24th Ave Hillsboro, OR	3.0	2.0	1100	$1,950	$1.77	21d	2	1.36mi
2314 SE 53rd Ave Hillsboro, OR	3.0	2.0	1462	$2,500	$1.71	23d	1	1.36mi
1120 SE Baseline St Apt 4 Hillsboro, OR	2.0	1.5	907	$1,950	$2.15	17d	1	1.42mi
740 SE Cedar St Hillsboro, OR	3.0	1.5	1197	$2,295	$1.92	43d	1	1.45mi
2520 NE Parkwood St Hillsboro, OR	2.0–3.0	1.0	800	$1,595	$1.99	23d	4	1.47mi
637 SE 7th Ave Hillsboro, OR	2.0	1.0	824	$1,700	$2.06	43d	1	1.48mi
642 SE Shega Ct Hillsboro, OR	3.0	2.5	1296	$2,095	$1.62	43d	1	1.49mi

Listing history 17 events

1. 2026-06-18
   days on market $80,000 Active 70 DOM
2. 2026-06-17
   days on market $80,000 Active 69 DOM
3. 2026-06-16
   days on market $80,000 Active 68 DOM
4. 2026-06-15
   days on market $80,000 Active 67 DOM
5. 2026-06-13
   days on market $80,000 Active 65 DOM
6. 2026-06-09
   days on market $80,000 Active 61 DOM
7. 2026-06-08
   days on market $80,000 Active 60 DOM
8. 2026-06-07
   days on market $80,000 Active 59 DOM
9. 2026-06-05
   days on market $80,000 Active 56 DOM
10. 2026-06-03
    days on market $80,000 Active 55 DOM
11. 2026-06-02
    days on market $80,000 Active 54 DOM
12. 2026-06-02
    price $80,000 Active 53 DOM
13. 2026-06-01
    days on market $87,000 Active 53 DOM
14. 2026-05-31
    days on market $87,000 Active 52 DOM
15. 2026-04-09
    listed $87,000 Active 1183-char remark

    Show marketing remark (1183 chars)

    Welcome to this charming one-level manufactured home in Hillsboro, offering comfort, space, and an abundance of natural light. Featuring 2 bedrooms and 2 bathrooms, this inviting home boasts a bright and airy living room with high vaulted ceilings and oversized windows that fill the space with sunshine, creating an open yet cozy atmosphere.The dining area also enjoys large windows, along with a ceiling fan and built-in features that add both character and functionality. The kitchen is well-equipped with tile flooring, a built-in dishwasher, double sinks, a pantry, and a convenient eating area—perfect for everyday living.Both bedrooms feature wall-to-wall carpet, while the spacious primary suite includes an ensuite bathroom complete with a walk-in shower and a relaxing soaking tub. A dedicated laundry room adds to the home's practicality.Outside, you’ll find two covered carport spaces and a fenced yard area, ideal for outdoor enjoyment. The standout feature is the large, welcoming front porch—perfect for relaxing and taking in the peaceful surroundings.This home offers a wonderful blend of comfort, charm, and functionality in a convenient location.

16. 2003-03-27
    soldstatus $13,000 207-char remark

    Show marketing remark (207 chars)

    BEAUTIFUL 2 BD 2 BA FLEETWOOD HOME IN PARK FOR RES 55 OR OLDER.WALL- PAPER THRU-OUT HOME IS BEAUTIFUL. FURN & APPL'S NEGO FOR LOW PRICES. DECK ACROSS FRONT OF HM. HT PUMP FOR SUMMER COMFORT. BRING OFFER.

17. 2002-09-23
    listed $16,000 207-char remark

    Show marketing remark (207 chars)

    BEAUTIFUL 2 BD 2 BA FLEETWOOD HOME IN PARK FOR RES 55 OR OLDER.WALL- PAPER THRU-OUT HOME IS BEAUTIFUL. FURN & APPL'S NEGO FOR LOW PRICES. DECK ACROSS FRONT OF HM. HT PUMP FOR SUMMER COMFORT. BRING OFFER.

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 11 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,999
• − Mortgage interest: −$4,481
• − Property taxes: −$1,200
• − Insurance: −$400
• − Repairs & maintenance: −$2,000
• − Management: −$2,000
• − Depreciation: −$2,327
• Taxable income: $12,591
• Est. tax owed @ 24.0%: −$3,022
• After-tax cash flow: $10,093/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: Hillsboro SD 1J
• NCES district ID: 4100023
• Math proficiency: 35% ▼ -4.00%
• Reading proficiency: 46% ▼ -7.00%
• Median HH income: $68,587
• Composite: 36.64/100
• National rank: #4617
• State rank: #13 of 58 in OR

Livability — Hillsboro

• Score: 87/100
• State rank: #13
• US rank: #282

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hillsboro, OR
• County: Washington County · 583,254 people
• City population: 102,767
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 48,410
• Household income: $109,985
• Rent vs Own: 30.2% rent · 69.8% own
• Severe rent burden: 929.0

Population outlook (Washington County) Hauer SSP2

• Today (2025): 674,042 people
• By 2030: 721,804 · +7.1%
• By 2040: 812,732 · +20.6%
• By 2050: 895,143 · +32.8%
• By 2075: 1,058,806 · +57.1%
• By 2100: 1,131,692 · +67.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 54% Hispanic / Latino 29% Two or more races 17% Asian 9% Native American 2% Black 2%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Portuguese 3% Italian 3% Lithuanian 2%
• Foreign-born: 20% · Canada, Vietnam, China
• Languages at home: 70% English-only · Spanish 22% Vietnamese 2% Other Indo-European 2%

Political lean MEDSL · Washington

• 2024 margin: Solid D (+34.0) · D 65.3% · R 31.3% · Other 3.4%
• 2008→2024 swing: +11.8pp toward D · 2008: 22.1pp · 2024: 34.0pp
• All cycles: 2024: D+34.0 2020: D+34.6 2016: D+26.7 2012: D+17.5 2008: D+22.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -419.54%
• Current HPI: 297.1522
• Rent YoY: ▼ -1.44%
• 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

+443.8% since first listed

3 events — show timeline

• 2026-04-09 Listed $87,000 RMLS
• 2003-03-27 Sold (MLS) $13,000 RMLS
• 2002-09-23 Listed $16,000 RMLS

Property tax history

+41.9%/yr

Latest (2016): $88 · -40.9% YoY. Source: county tax records.