507 N 19th Ave · Cornelius, OR 97113

$98,000

2 bd · 1.0 ba · 784 sqft · Other · 26 Days on market

Built 1981 Good 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
• Livability +4.1/5.0
• Condition / age +3.8/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This beautifully updated January 2026 2-bedroom, 1-bath manufactured home is move-in ready located in a vibrant 55+ community with space rent of $861 per month (including water and sewer), this home offers both comfort and value. Enjoy a covered porch, mature shade tree, and a storage shed for extra storage or hobbies. Recent updates include waterproof luxury vinyl flooring throughout the home, fresh interior paint, fresh exterior paint with new siding, new back steps, new heat vent covers, and A/C unit. Clean, updated, and truly move-in ready.

Key facts

• Covered porch
• Mature shade tree
• New siding

Tags

• COVERED PORCH
• MATURE SHADE TREE
• STORAGE SHED
• FRESH INTERIOR PAINT
• FRESH EXTERIOR PAINT
• NEW SIDING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $98k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $577 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $98k).
• Recommended offer: $97k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.4% vs local median 2.9% in Cornelius — 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 82/100 on livability (#47 in OR, #1,193 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: amenities C-, cost of living C-.
• Forest Grove SD 15 (suburban): math 32% / reading 46% proficiency, ranked #111 of 183 in OR (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cornelius Elementary School (371 students, 93% FRL); Neil Armstrong Middle School (math 24% / reading 75%, grade C, #26 of 128 statewide, top 21%, 826 students, 48% FRL); Forest Grove High School (1,977 students, 41% FRL).
• Market conditions: 113 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $678 of loan paydown is wiped out by about $3k 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 + 3.0% rent growth), your $27k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($97k) is reasonable based on typical stale-listing flexibility.

Recommended offer $96,530 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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.
4. 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.
5. 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: 1.62% ✓
• Cap rate: 13.36%
• Cash-on-cash: 25.24%
• DSCR: 2.12
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 18.8%
• Equity multiple: 1.76×
• Total profit: $20,910
• Equity at exit: $14,612

10-year hold

• IRR: 27.1%
• Equity multiple: 3.39×
• Total profit: $65,647
• Equity at exit: $8,473

Cash invested: $27,440 (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 97113

• Active inventory: 113
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,588 high
• Mortgage (P&I): −$514
• Tax est. 1.5%: −$122 /mo · $1,470/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $577

Break-even live

Break-even rent $857

Max offer price $98,000

Occupancy floor 59%

Sensitivity live

Price	-10% $645	-5% $611	+0% $577	+5% $543	+10% $510
Rent	-10% $452	-5% $515	+0% $577	+5% $640	+10% $703
Rate	-1.0pp $627	-0.5pp $602	base $577	+0.5pp $552	+1.0pp $526

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: $24,500
• Closing costs: $2,940
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1100 N Davis St Cornelius, OR	2.0	1.0	750	$1,645	$2.19	0d	2	0.41mi
1250 E Baseline St Unit 4 Cornelius, OR	2.0	1.0	700	$1,280	$1.83	6d	1	0.50mi
267 N 10th Ave Unit 125-11 Cornelius, OR	1.0	1.0	687	$1,375	$2.00	9d	1	0.55mi
281 N 10th Ave Cornelius, OR	1.0	1.0	585	$1,350	$2.31	3d	3	0.59mi
120 N 7th Ave Unit D Cornelius, OR	2.0	2.0	1015	$1,699	$1.67	45d	1	0.68mi
110 N 7th Ave Apt A Cornelius, OR	2.0	2.0	1015	$1,609	$1.59	9d	1	0.68mi
110 N 7th Ave Apt C Cornelius, OR	2.0	2.0	1015	$1,749	$1.72	45d	1	0.68mi
2795 N Clark Ct Cornelius, OR	3.0	2.0	1100	$2,295	$2.09	18d	1	0.68mi
100 N 7th Ave Apt B Cornelius, OR	2.0	2.0	1015	$1,599	$1.58	16d	1	0.69mi
100 N 7th Ave Unit A Cornelius, OR	2.0	2.0	1015	$1,595	$1.57	21d	1	0.69mi
101 N 7th Ave Unit C Cornelius, OR	2.0	1.5	936	$1,499	$1.60	23d	1	0.71mi
101 N 7th Ave Apt D Cornelius, OR	2.0	1.5	936	$1,545	$1.65	16d	1	0.71mi
299 N 5th Pl Cornelius, OR	2.0	2.0	956	$1,900	$1.99	45d	1	0.79mi
522 N Adair St #16 Cornelius, OR	1.0	1.0	600	$1,250	$2.08	45d	1	0.82mi
466 N Adair St #9 Cornelius, OR	1.0	1.0	600	$1,295	$2.16	12d	1	0.86mi
130 N 4th Ave Apt 18 Cornelius, OR	1.0	1.0	600	$1,350	$2.25	46d	1	0.86mi
130 N 4th Ave Apt 18 Cornelius, OR	1.0	1.0	600	$1,295	$2.16	23d	1	0.86mi
184 S 5th Ave Unit 164 Cornelius, OR	2.0	1.5	1114	$1,795	$1.61	16d	1	0.87mi
1318 S Ivy St Cornelius, OR	2.0	1.0	816	$1,795	$2.20	25d	1	0.90mi
1330 S Ivy St Cornelius, OR	2.0	1.0	816	$1,745	$2.14	25d	1	0.90mi
1367 S Ivy St Apt B Cornelius, OR	2.0	1.0	800	$1,550	$1.94	45d	1	0.93mi
4300 Pacific Ave Forest Grove, OR	2.0	1.5	950	$1,645	$1.73	0d	5	1.16mi
4204 Pacific Ave Forest Grove, OR	2.0	1.0	900	$1,500	$1.67	3d	1	1.23mi
313 S Nectarine St Cornelius, OR	3.0	2.0	1114	$2,295	$2.06	21d	1	1.41mi

Listing history 17 events

1. 2026-06-21
   days on market $98,000 Active 26 DOM
2. 2026-06-18
   days on market $98,000 Active 23 DOM
3. 2026-06-17
   days on market $98,000 Active 22 DOM
4. 2026-06-16
   days on market $98,000 Active 21 DOM
5. 2026-06-15
   days on market $98,000 Active 20 DOM
6. 2026-06-13
   days on market $98,000 Active 18 DOM
7. 2026-06-09
   days on market $98,000 Active 14 DOM
8. 2026-06-08
   days on market $98,000 Active 13 DOM
9. 2026-06-07
   days on market $98,000 Active 12 DOM
10. 2026-06-05
    days on market $98,000 Active 9 DOM
11. 2026-06-03
    days on market $98,000 Active 8 DOM
12. 2026-06-02
    days on market $98,000 Active 7 DOM
13. 2026-06-02
    remarks 550-char remark
14. 2026-06-02
    pricedays on marketlisting id $98,000 Active 6 DOM
15. 2026-06-01
    days on market $85,000 Active 3 DOM
16. 2026-05-31
    days on market $85,000 Active 2 DOM
17. 2026-05-26
    listed $98,000 Active

ⓘ 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: $19,056
• − Mortgage interest: −$5,490
• − Property taxes: −$1,470
• − Insurance: −$490
• − Repairs & maintenance: −$1,524
• − Management: −$1,524
• − Depreciation: −$2,851
• Taxable income: $5,707
• Est. tax owed @ 24.0%: −$1,370
• After-tax cash flow: $5,558/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 · 1 photo

Good 75/100 Cosmetic rehab

This move-in ready manufactured home is in excellent condition with recent updates, making it an attractive option for both resale and rental.

Value-add opportunities

• Both Painting the exterior and interior — Fresh paint enhances curb appeal and interior aesthetics
• Rental Reorganizing the storage shed — A well-organized shed can increase rental value by providing more storage options

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior — Fresh paint enhances curb appeal and interior aesthetics ↑
• Rental Reorganizing the storage shed — A well-organized shed can increase rental value by providing more storage options ↑

ⓘ 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: Forest Grove SD 15
• NCES district ID: 4105160
• Math proficiency: 32% ▼ -4.00%
• Reading proficiency: 46% ▼ -4.00%
• Median HH income: $52,159
• Composite: 36.31/100
• National rank: #9395
• State rank: #111 of 183 in OR

Livability — Cornelius

• Score: 82/100
• State rank: #47
• US rank: #1193

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cornelius, OR
• Population (ZIP): 15,621

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 0.57)
• Race & ethnicity: Hispanic / Latino 47% White 46% Two or more races 13% Native American 4% Asian 2%
• Hispanic origin (detail): Mexican 42%
• Common ancestry: Iranian 3% Italian 2% Portuguese 2%
• Foreign-born: 24% · Canada, China, Vietnam
• Languages at home: 55% English-only · Spanish 42% Other Indo-European 1% Chinese 1%

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: ▼ -171.16%
• Current HPI: 285.7514
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-05-26 Listed $98,000 FSBO.com