Eugene Plan · Happy Valley, OR 97015

$174,900

2 bd · 2.0 ba · 1,125 sqft · Manufactured · 41 Days on market

Excellent condition

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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
• Condition / age +5.0/5.0
• Livability +3.8/5.0
• Schools +3.2/10.0
• Rent growth +3.1/5.0
• Appreciation +0.0/10.0

Listing remarks

55+ age qualified community. COMING SOON! Currently under construction. Welcome to Shadowbrook, a 55+ age-qualified active and vibrant community, where your dream home is coming to life. We are excited to offer a modern brand new 2026 2 bed, 2 bath home for sale, featuring approximately 1125.60 sq ft of thoughtfully designed living space. Located in Clackamas, this soon-to-be-completed property will offer the perfect blend of modern design and timeless comfort. Construction is underway, and soon you'll be able to step inside and experience open-concept floor plan, high ceilings, natural light home has to offer. The spacious kitchen is beautifully designed with stainless steel appliances, a

Key facts

• Spacious kitchen
• Upgraded cabinets
• Listed 41 days

Tags

• MODERN BRAND NEW HOME
• OPEN-CONCEPT FLOOR PLAN
• SPACIOUS KITCHEN
• STAINLESS STEEL APPLIANCES
• DEEP SINGLE BOWL SINK
• UPGRADED CABINETS

Property features AI

Finance

• Other: Address: 13640 SE Highway 212, Clackamas OR 97015; Inventory type: Plan; Listing status: Active
• Financial info: List price $174,900

Exterior

• Home design: Plan named Eugene; Model listed as Eugene Plan
• Exterior features: Living area approximately 1,125

Interior

• Bedrooms: Two bedrooms
• Bathrooms: Two full bathrooms
• Interior features: Two full bathrooms

🏗️ New construction. The $174,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $93,500.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $175k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $935 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $170k (3.0% below list) — sets the bar for market timing.
• Cap rate 18.3% 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.
• 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.
• Zoned schools: Milwaukie El Puente Elementary School (math 34% / reading 15%, grade F, #309 of 412 statewide, top 77%, 418 students, 0% FRL); Rock Creek Middle School (math 19% / reading 44%, grade F, #82 of 128 statewide, top 64%, 902 students, 33% FRL); Clackamas High School (math 52% / reading 67%, grade C+, #23 of 143 statewide, top 19%, 1,224 students, 27% FRL).
• Market conditions: Rents rising (+2.5%/yr); 124 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $646 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 + 2.5% rent growth), your $26k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.

Recommended offer $169,653 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 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: 2.14% ✓
• Cap rate: 18.29%
• Cash-on-cash: 42.84%
• DSCR: 2.91
• GRM: 3.9

CMA / ARV

• ARV (median comp): $93,500
• List price: $174,900
• Delta: 87.06%
• Verdict: OVERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13900 SE Highway 212 #190	0.18mi	2/2.0	1,152 (+2%)	4mo	$93,500	$81	84
13640 SE Highway 212 #39	0.23mi	2/2.0	1,188 (+6%)	0mo	$93,000	$78	80
13640 SE Highway 212 #1	0.06mi	3/2.0 (+1)	1,039 (-8%)	11mo	$79,900	$77	70
13640 SE Highway 212 #116	0.15mi	2/2.0	1,200 (+7%)	16mo	$107,000	$89	68
13640 SE Highway 212 #106	0.04mi	2/2.0	1,272 (+13%)	12mo	$109,000	$86	66
16484 SE 135th Ave #68	0.46mi	2/1.0	1,146 (+2%)	8mo	$119,500	$104	64
13900 SE Highway 212 #96	0.18mi	2/1.0	980 (-13%)	14mo	$36,000	$37	55
16408 SE 135th Ave	0.39mi	3/2.0 (+1)	1,232 (+10%)	12mo	$147,692	$120	51
15136 SE 122nd Ave	0.67mi	2/2.0	1,008 (-10%)	12mo	$92,000	$91	41
16500 SE 135th Ave #76	0.49mi	3/2.0 (+1)	1,280 (+14%)	14mo	$156,000	$122	38

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 · 2.48% rent growth · sell at horizon

5-year hold

• IRR: 39.0%
• Equity multiple: 2.66×
• Total profit: $43,368
• Equity at exit: $13,941

10-year hold

• IRR: 45.2%
• Equity multiple: 5.21×
• Total profit: $110,312
• Equity at exit: $8,084

Cash invested: $26,180 (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 97015

• Rents YoY: 2.5%
• Active inventory: 124
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,001 high
• Mortgage (P&I): −$490
• Tax est. 1.5%: −$117 /mo · $1,402/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $935

Break-even live

Break-even rent $818

Max offer price $93,500

Occupancy floor 48%

Sensitivity live

Price	-10% $999	-5% $967	+0% $935	+5% $902	+10% $870
Rent	-10% $777	-5% $856	+0% $935	+5% $1,014	+10% $1,093
Rate	-1.0pp $982	-0.5pp $958	base $935	+0.5pp $910	+1.0pp $886

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: $23,375
• Closing costs: $2,805
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13300 SE Hubbard Rd Clackamas, OR	3.0	1.0–2.0	818	$1,987	$2.43	3d	6	0.40mi
12301 SE Hubbard Rd Clackamas, OR	2.0–3.0	1.0–2.0	936	$1,523	$1.63	12d	4	0.80mi
14553 SE Lone Pine Dr Unit 14553 Clackamas, OR	2.0	1.0	800	$1,695	$2.12	45d	1	0.88mi
13898 SE Rogers Ln Clackamas, OR	3.0	2.0	1488	$2,599	$1.75	45d	1	0.91mi
14095 SE Summerfield Loop Happy Valley, OR	3.0	2.5	1453	$2,695	$1.85	45d	1	1.15mi
14712 SE Misty Dr Happy Valley, OR	2.0	1.0–2.0	955	$1,988	$2.08	3d	13	1.23mi
14154 SE Summerfield Loop Unit 14194 Happy Valley, OR	3.0	2.5	1125	$2,250	$2.00	25d	1	1.28mi
14194 SE Summerfield Loop Happy Valley, OR	3.0	2.5	1125	$2,250	$2.00	25d	1	1.28mi
13300 SE 122nd Ave Clackamas, OR	1.0–3.0	1.0–2.0	975	$1,874	$1.92	0d	6	1.40mi

Listing history 15 events

1. 2026-06-21
   days on market $174,900 Active 41 DOM
2. 2026-06-18
   days on market $174,900 Active 38 DOM
3. 2026-06-17
   days on market $174,900 Active 37 DOM
4. 2026-06-16
   days on market $174,900 Active 36 DOM
5. 2026-06-15
   days on market $174,900 Active 35 DOM
6. 2026-06-13
   days on market $174,900 Active 33 DOM
7. 2026-06-09
   days on market $174,900 Active 29 DOM
8. 2026-06-08
   days on market $174,900 Active 28 DOM
9. 2026-06-07
   days on market $174,900 Active 27 DOM
10. 2026-06-05
    days on market $174,900 Active 24 DOM
11. 2026-06-03
    days on market $174,900 Active 23 DOM
12. 2026-06-02
    days on market $174,900 Active 22 DOM
13. 2026-06-01
    days on market $174,900 Active 21 DOM
14. 2026-05-31
    days on market $174,900 Active 20 DOM
15. 2026-05-11
    listed $174,900 Active 1500-char remark

ⓘ 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 ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 14 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,013
• − Mortgage interest: −$5,237
• − Property taxes: −$1,402
• − Insurance: −$468
• − Repairs & maintenance: −$1,921
• − Management: −$1,921
• − Depreciation: −$2,720
• Taxable income: $10,343
• Est. tax owed @ 24.0%: −$2,482
• After-tax cash flow: $8,734/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 · 9 photos

Excellent 100/100 None rehab

This new construction home in a 55+ age-qualified community is move-in ready with modern finishes and ample space. It offers a great opportunity for investors looking to capitalize on the growing demand for senior living properties.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances the home's curb appeal and resale value.
• Both Painting exterior and interior walls — Fresh paint can improve the home's appearance and value.
• Resale Upgrading kitchen appliances — Modern appliances can attract more buyers and increase the home's value.
• Both Adding smart home features — Smart home features can increase the home's appeal and value, both for resale and rental.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances the home's curb appeal and resale value. ↑
• Both Painting exterior and interior walls — Fresh paint can improve the home's appearance and value. ↑
• Resale Upgrading kitchen appliances — Modern appliances can attract more buyers and increase the home's value. ↑
• Both Adding smart home features — Smart home features can increase the home's appeal and value, both for resale and rental. ↑

ⓘ 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: 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 — 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

• County: Clackamas County · 361,406 people
• City population: 34,567
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 24,433
• Household income: $87,333
• Rent vs Own: 36.0% rent · 64.0% own
• Severe rent burden: 1166.0

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 (66%)
• Race & ethnicity: White 66% Hispanic / Latino 15% Two or more races 12% Asian 11% Black 2%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Italian 4% Scotch-Irish 4% Lithuanian 3%
• Foreign-born: 15% · Canada, China, Vietnam
• Languages at home: 74% English-only · Spanish 11% Chinese 5% Russian/Polish/Slavic 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: ▼ -170.50%
• Current HPI: 295.7295
• Rent YoY: ▲ 2.48%
• 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