12450 SW Fischer Rd #103 · King City, OR 97224

$169,000

3 bd · 2.0 ba · 1,508 sqft · Manufactured public records · 52 Days on market

Built 1986 $112/sqft · 121% above area

---

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
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• ARV discount +7.5/15.0
• Schools +4.9/10.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully updated and spacious 1508 sq ft home in desirable King Village! This well-maintained home features numerous upgrades, including new windows, updated plumbing, fresh exterior paint, and a newer heat pump with A/C for year-round comfort. The large, updated kitchen offers abundant space and comes complete with newer appliances.Enjoy outdoor living with two decks—perfect for entertaining—along with a yard featuring garden boxes and a storage shed. A standout feature is the versatile additional outbuilding ideal for a hobby space, entertaining area, or extra storage.Move-in ready with thoughtful updates throughout—don’t miss this opportunity!

Key facts

• Newer appliances
• Two decks
• Updated kitchen

Tags

• UPDATED PLUMBING
• NEW WINDOWS
• NEWER HEAT PUMP
• UPDATED KITCHEN
• NEWER APPLIANCES
• TWO DECKS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $169k.

Deal economics

• At list price, monthly cash flow is $778 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $169k).
• Recommended offer: $164k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.8% vs local median 2.7% in King City — 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 85/100 on livability (#24 in OR, #539 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, housing A+.
• Tigard-Tualatin SD 23J (suburban): math 47% / reading 65% proficiency, ranked #6 of 58 in OR (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents soft (-0.4%/yr); 412 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $1k of loan paydown is wiped out by about $5k 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 $47k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $50k; list at $169k implies a 238% gain — meaningful room to come down on a strong offer.

Recommended offer $163,930 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 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. 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: 1.36% ✓
• Cap rate: 11.82%
• Cash-on-cash: 19.72%
• DSCR: 1.88
• GRM: 6.1

CMA / ARV

• ARV (median comp): $76,316
• List price: $169,000
• Delta: 121.45%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17123 SW Eldorado Dr	0.30mi	3/2.0	1,568 (+4%)	2mo	$129,985	$83	78
17088 SW Eldorado Dr	0.23mi	2/2.0 (-1)	1,440 (-4%)	2mo	$23,000	$16	76
13620 SW Beef Bend Rd #1	0.66mi	3/2.0	1,525 (+1%)	1mo	$199,000	$130	66
11668 SW Royal Villa Dr #77	0.49mi	2/2.0 (-1)	1,440 (-4%)	3mo	$67,000	$47	62
17151 SW Eldorado Dr #85	0.32mi	2/2.0 (-1)	1,344 (-11%)	3mo	$62,000	$46	60
18485 SW Pacific Dr #64	0.74mi	3/2.0	1,456 (-3%)	4mo	$94,000	$65	57
11656 SW Royal Villa Dr #71	0.48mi	3/2.0	1,344 (-11%)	6mo	$42,500	$32	55
18485 SW Pacific Dr #53	0.72mi	2/2.0 (-1)	1,440 (-4%)	3mo	$120,000	$83	52
13620 SW Beef Bend Rd #66	0.64mi	3/2.0	1,684 (+12%)	1mo	$120,000	$71	50
11560 SW Royal Villa Dr	0.53mi	2/2.0 (-1)	1,334 (-12%)	5mo	$35,000	$26	47
13620 SW Beef Bend Rd #146	0.63mi	3/2.0	1,728 (+15%)	0mo	$115,000	$67	46
18485 SW Pacific Dr #37	0.70mi	3/2.0	1,296 (-14%)	0mo	$85,000	$66	44

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: 8.6%
• Equity multiple: 1.32×
• Total profit: $15,363
• Equity at exit: $25,198

10-year hold

• IRR: 15.2%
• Equity multiple: 2.08×
• Total profit: $50,931
• Equity at exit: $14,612

Cash invested: $47,320 (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 97224

• Rents YoY: -0.4%
• Active inventory: 412
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,300 high
• Mortgage (P&I): −$886
• Tax from tax record: −$83 /mo · $990/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$483
• Net cashflow: $778

Break-even live

Break-even rent $1,315

Max offer price $169,000

Occupancy floor 61%

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12070 SW Fischer Rd Portland, OR	1.0–3.0	1.0–2.0	925	$2,099	$2.27	2d	9	0.20mi
13060 SW Dickson St Portland, OR	2.0	2.0	1108	$1,850	$1.67	44d	1	0.38mi
17865 SW Pacific Hwy Tualatin, OR	1.0–3.0	1.0–2.0	970	$2,242	$2.31	2d	13	0.38mi
16903 SW 133rd Ter Portland, OR	3.0	2.5	1665	$2,845	$1.71	10d	1	0.45mi
11865 SW Tualatin Rd Tualatin, OR	2.0–3.0	2.0–2.5	1154	$2,737	$2.37	2d	19	0.48mi
17979 SW 115th Ave Unit 6 Tualatin, OR	2.0	1.5	1064	$1,625	$1.53	24d	1	0.59mi
17335 SW Montague Way Portland, OR	3.0	2.5	1687	$3,175	$1.88	2d	1	0.63mi
17989 SW 115th Ave Tualatin, OR	2.0	1.0–1.5	982	$1,550	$1.58	24d	2	0.65mi
15205 SW 119th Ave Portland, OR	2.0	2.0	1650	$2,150	$1.30	20d	1	0.93mi
15199 SW Royalty Pkwy Portland, OR	1.0–3.0	1.0–2.0	884	$2,205	$2.49	2d	12	1.18mi
15050 SW 141st Ave Portland, OR	3.0	2.0	2051	$3,495	$1.70	18d	1	1.26mi
10695 SW Murdock St Tigard, OR	2.0	1.0	793	$1,806	$2.28	2d	13	1.41mi
9720 SW Tualatin Rd Tualatin, OR	2.0	2.0	1100	$1,750	$1.59	44d	1	1.44mi

Listing history 8 events

1. 2026-06-07
   statusdays on market $169,000 Pending 52 DOM
2. 2026-06-05
   days on market $169,000 Active 51 DOM
3. 2026-06-03
   days on market $169,000 Active 50 DOM
4. 2026-06-02
   days on market $169,000 Active 49 DOM
5. 2026-06-01
   days on market $169,000 Active 48 DOM
6. 2026-05-31
   days on market $169,000 Active 47 DOM
7. 2026-04-14
   listed $179,000 Active 681-char remark

   Show marketing remark (681 chars)

   Beautifully updated and spacious 1508 sq ft home in desirable King Village! This well-maintained home features numerous upgrades, including new windows, updated plumbing, fresh exterior paint, and a newer heat pump with A/C for year-round comfort. The large, updated kitchen offers abundant space and comes complete with newer appliances.Enjoy outdoor living with two decks—perfect for entertaining—along with a yard featuring garden boxes and a storage shed. A standout feature is the versatile additional outbuilding ideal for a hobby space, entertaining area, or extra storage.Move-in ready with thoughtful updates throughout—don’t miss this opportunity!

8. 1989-12-29
   soldstatus $50,000

ⓘ 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: $990 · $83/mo
• Projected year-2 tax: $1,639 · $137/mo
• Expected delta: +$649/yr (+$54/mo · 65.5%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 12 unhealthy d/yr today · 13 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,599
• − Mortgage interest: −$9,467
• − Property taxes: −$990
• − Insurance: −$845
• − Repairs & maintenance: −$2,208
• − Management: −$2,208
• − Depreciation: −$4,916
• Taxable income: $6,965
• Est. tax owed @ 24.0%: −$1,671
• After-tax cash flow: $7,661/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: Tigard-Tualatin SD 23J
• NCES district ID: 4112240
• Math proficiency: 47% ▼ -3.00%
• Reading proficiency: 65% ▲ 3.00%
• Median HH income: $60,739
• Composite: 48.72/100
• National rank: #2100
• State rank: #6 of 58 in OR

Livability — King City

• Score: 85/100
• State rank: #24
• US rank: #539

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Washington County · 583,254 people
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 36,569
• Household income: $98,125
• Rent vs Own: 30.0% rent · 70.0% own
• Severe rent burden: 1468.0

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: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 10% Two or more races 8% Asian 8% Black 3%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 4% Lithuanian 4% Slovak 3%
• Foreign-born: 13% · Canada, Vietnam, China
• Languages at home: 83% English-only · Spanish 7% Other Indo-European 3% Vietnamese 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: ▼ -287.40%
• Current HPI: 277.57
• Rent YoY: ▼ -0.38%
• 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

+258.0% since first listed

2 events — show timeline

• 2026-04-14 Listed $179,000 RMLS
• 1989-12-29 Sold (Public Records) $50,000 Public Records

Property tax history

+4.8%/yr

Latest (2025): $990 · +10.4% YoY. Source: county tax records.