11905 11907 SE Schiller St · Portland, OR 97266

$424,900

4 bd · 2.0 ba · 2,500 sqft · MultiFamily · 64 Days on market

Built 2001 Fair condition 6,098 sqft lot $170/sqft · 11% below area Est $480k · 11% under

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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 +16.1/30.0
• ARV discount +12.7/15.0
• DSCR +5.0/10.0
• 1% rule +4.4/10.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Please do not disturb tenants.Great opportunity to own a well-located townhouse-style duplex, ideal for investors or owner-occupants. Each unit offers approximately 858 sq. ft. with 2 bedrooms and 1 bathroom. Oversized one-car garage, Washer and dryer hookups in each unit Situated in a quiet cul-de-sac and conveniently located public transportation. Unit A moving out mid May and will be vacant on closing (taking RV). Unite B Rents $1,700 and would Like to stay. Owner pays water, sewer & garbage.

Key facts

• 6,098 sq ft lot
• Garage
• Built 2001

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $425k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $154 ($2k/yr) — positive. Per door: $77/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $400k (6.0% below list).
• Recommended offer: $399k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.9% 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.
• David Douglas SD 40 (urban): math 34% / reading 49% proficiency, ranked #99 of 183 in OR (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-0.1%/yr); 205 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); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,041 units permitted in Multnomah County in 2024 (905 in 5+ unit buildings).
• At $3,996/mo this rent would consume 66% of the median local household income ($73k/yr) (locally 2167% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k 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

• It's been on market 64 days — a 6% lower offer ($399k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y 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.
• Current owner paid $310k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $399,406 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 0.94% ✗
• Cap rate: 6.92%
• Cash-on-cash: 2.22%
• DSCR: 1.10
• GRM: 8.9

CMA / ARV

• ARV (median comp): $480,010
• List price: $424,900
• Delta: -11.48%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -17.3%
• Equity multiple: 0.41×
• Total profit: $-70,654
• Equity at exit: $63,354

10-year hold

• IRR: -16.4%
• Equity multiple: 0.21×
• Total profit: $-93,741
• Equity at exit: $36,738

Cash invested: $118,972 (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 97266

• Rents YoY: -0.1%
• Active inventory: 205
• Price-to-rent: 17.7×

Monthly cashflow live

• Estimated rent: $3,996 high
• Mortgage (P&I): −$2,228
• Tax est. 1.5%: −$531 /mo · $6,374/yr
• Insurance: −$177
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$839
• Net cashflow: $154

Break-even live

Break-even rent $3,801

Max offer price $424,900

Occupancy floor 91%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,996
Total (2 units)			$3,996

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: $106,225
• Closing costs: $12,747
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4632 SE 122nd Ave Unit D Portland, OR	4.0	2.0	2500	$2,800	$1.12	43d	1	0.18mi
12548 SE Ramona St Portland, OR	5.0	2.5	2120	$3,095	$1.46	43d	1	0.68mi
13515 SE Holgate Blvd Portland, OR	3.0	2.0	2160	$2,495	$1.16	43d	1	0.82mi
13726 SE Reedway St Portland, OR	3.0	2.5	1817	$2,295	$1.26	43d	1	1.02mi

Listing history 19 events

1. 2026-06-18
   days on market $424,900 Active 64 DOM
2. 2026-06-17
   days on market $424,900 Active 63 DOM
3. 2026-06-16
   days on market $424,900 Active 62 DOM
4. 2026-06-15
   days on market $424,900 Active 61 DOM
5. 2026-06-13
   days on market $424,900 Active 59 DOM
6. 2026-06-09
   days on market $424,900 Active 55 DOM
7. 2026-06-08
   days on market $424,900 Active 54 DOM
8. 2026-06-07
   days on market $424,900 Active 53 DOM
9. 2026-06-05
   days on market $424,900 Active 50 DOM
10. 2026-06-03
    pricedays on market $424,900 Active 49 DOM
11. 2026-06-02
    days on market $434,900 Active 48 DOM
12. 2026-06-01
    days on market $434,900 Active 47 DOM
13. 2026-05-31
    days on market $434,900 Active 46 DOM
14. 2026-04-15
    listed $434,900 Active 504-char remark

    Show marketing remark (504 chars)

    Please do not disturb tenants.Great opportunity to own a well-located townhouse-style duplex, ideal for investors or owner-occupants. Each unit offers approximately 858 sq. ft. with 2 bedrooms and 1 bathroom. Oversized one-car garage, Washer and dryer hookups in each unit Situated in a quiet cul-de-sac and conveniently located public transportation. Unit A moving out mid May and will be vacant on closing (taking RV). Unite B Rents $1,700 and would Like to stay. Owner pays water, sewer & garbage.

15. 2017-04-28
    soldstatus $309,500 Sold 325-char remark

    Show marketing remark (325 chars)

    Please do not disturb tenants! Great opportunity for a townhouse style duplex. Cul-de-sac location. Each side is 2 bedrooms/1 bath, approx 858 s.f. Wood flooring in main living areas. Small yard spaces. Washer and dryer hookups in units. Each side has an over sized one car garage and storage. Near public transportation.

16. 2017-03-27
    status Pending 325-char remark

    Show marketing remark (325 chars)

    Please do not disturb tenants! Great opportunity for a townhouse style duplex. Cul-de-sac location. Each side is 2 bedrooms/1 bath, approx 858 s.f. Wood flooring in main living areas. Small yard spaces. Washer and dryer hookups in units. Each side has an over sized one car garage and storage. Near public transportation.

17. 2017-03-15
    status Active 325-char remark

    Show marketing remark (325 chars)

    Please do not disturb tenants! Great opportunity for a townhouse style duplex. Cul-de-sac location. Each side is 2 bedrooms/1 bath, approx 858 s.f. Wood flooring in main living areas. Small yard spaces. Washer and dryer hookups in units. Each side has an over sized one car garage and storage. Near public transportation.

18. 2017-03-08
    status Pending 325-char remark

    Show marketing remark (325 chars)

    Please do not disturb tenants! Great opportunity for a townhouse style duplex. Cul-de-sac location. Each side is 2 bedrooms/1 bath, approx 858 s.f. Wood flooring in main living areas. Small yard spaces. Washer and dryer hookups in units. Each side has an over sized one car garage and storage. Near public transportation.

19. 2017-02-22
    listed $320,000 Active 325-char remark

    Show marketing remark (325 chars)

    Please do not disturb tenants! Great opportunity for a townhouse style duplex. Cul-de-sac location. Each side is 2 bedrooms/1 bath, approx 858 s.f. Wood flooring in main living areas. Small yard spaces. Washer and dryer hookups in units. Each side has an over sized one car garage and storage. Near public transportation.

ⓘ 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 9/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°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: $47,952
• − Mortgage interest: −$23,801
• − Property taxes: −$6,374
• − Insurance: −$2,922
• − Repairs & maintenance: −$3,836
• − Management: −$3,836
• − Depreciation: −$12,361
• Taxable loss: −$5,178
• Est. tax savings @ 24.0%: +$1,243
• After-tax cash flow: $3,091/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This townhouse-style duplex requires moderate renovations to improve its condition and increase its value. Focus on updating the kitchen and bathroom, and improving the landscaping to attract both buyers and renters.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of updating
• Moderate kitchen appliances — outdated and in need of replacement
• Moderate bathroom fixtures — dated and in need of updating
• Minor landscaping — some overgrown areas

Value-add opportunities

• Both update kitchen cabinets and appliances — modernizing the kitchen would increase both resale and rental value
• Both update bathroom fixtures — modernizing the bathroom would increase both resale and rental value
• Rental landscaping improvements — improved landscaping would make the property more appealing to renters

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of updating	Moderate	$3,000–15,000
kitchen appliances · outdated and in need of replacement	Moderate	$3,000–15,000
bathroom fixtures · dated and in need of updating	Moderate	$3,000–15,000
landscaping · some overgrown areas	Minor	$500–3,000
Total estimated repair cost · 4 items		$9,500–48,000

Value-add ROI direction

• Both update kitchen cabinets and appliances — modernizing the kitchen would increase both resale and rental value ↑
• Both update bathroom fixtures — modernizing the bathroom would increase both resale and rental value ↑
• Rental landscaping improvements — improved landscaping would make the property more appealing to renters ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: David Douglas SD 40
• NCES district ID: 4103940
• Math proficiency: 34% ▲ 1.00%
• Reading proficiency: 49% ▲ 1.00%
• Median HH income: $42,781
• Composite: 37.38/100
• National rank: #8926
• State rank: #99 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): 35,423
• Household income: $72,577
• Rent vs Own: 45.9% rent · 54.1% own
• Severe rent burden: 2167.0

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 0.65)
• Race & ethnicity: White 54% Asian 16% Hispanic / Latino 14% Two or more races 11% Black 7% Native American 2%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Italian 3% Slovak 2% Portuguese 2%
• Foreign-born: 21% · China, Vietnam, Canada
• Languages at home: 70% English-only · Spanish 9% Vietnamese 6% Chinese 6%

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: ▼ -300.41%
• Current HPI: 308.6145
• Rent YoY: ▼ -0.09%
• 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

+35.9% since first listed

6 events — show timeline

• 2026-04-15 Listed $434,900 RMLS
• 2017-04-28 Sold (MLS) $309,500 RMLS
• 2017-03-27 Pending — RMLS
• 2017-03-15 Relisted — RMLS
• 2017-03-08 Pending — RMLS
• 2017-02-22 Listed $320,000 RMLS