4682 SE 134th Dr · Portland, OR 97236

$139,999

3 bd · 2.0 ba · 1,650 sqft · Manufactured · 20 Days on market

Built 1995 Good condition Est $135k · 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 +5.9/15.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• Rent growth +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

FRONT ENTRY GOLDEN WEST W/VAULTS THRU-OUT, ISLAND KITCHEN W/EATING AREA, CEILING FANS, OPEN FLOOR PLAN, BEAUTIFUL LANDSCAPING AND VERY WELL MAINTAINED. SALE SUBJECT TO PARK APPROVAL. A MUST SEE!!!

Key facts

• Ample counter space
• Open layout
• Private fenced yard

Tags

• PRIVATE FENCED YARD
• AMPLE COUNTER SPACE
• ABUNDANT STORAGE
• OPEN LAYOUT

Property features AI

Finance

• Other: Lot is leased and level; paved road access
• HOA & community: Located in Aspen Meadows park; Park space is on leased land (land lease); Lot rent $1,195 per month; Land lease expiration: December 31, 2026; Zoned RES-MFG

Exterior

• Parking: Carport and driveway parking; Space for two vehicles
• Security: No security features listed
• Utilities: Public water; Public sewer; Electric service
• Home design: Manufactured home in park (Fleetwood); Updated/remodeled condition; Territorial view; Single-level living (main level entry)
• Construction: 1995 construction; Composition/shingle roof; Pillar/post/pier foundation with skirting
• Exterior features: Fenced yard; T-111 and wood siding

Interior

• Kitchen: Free-standing range
• Bedrooms: Primary bedroom on main level; Second bedroom on main level; Third bedroom on main level
• Bathrooms: Two full bathrooms (both on main level)
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Double-pane windows with vinyl frames; Crawl space basement
• Laundry & utility: Electric hot water

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $140k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $679 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $138k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.4% 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.
• Zoned schools: Ron Russell Middle School (770 students, 77% FRL); David Douglas High School (2,698 students, 73% FRL).
• Market conditions: Rents rising (+1.6%/yr); 207 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,041 units permitted in Multnomah County in 2024 (905 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $39k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 29y 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 $62k; list at $140k implies a 126% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $152/mo.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $137,899 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.63% ✓
• Cap rate: 13.41%
• Cash-on-cash: 25.43%
• DSCR: 2.13
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $135,300
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13443 SE Pardee Dr #3	0.04mi	3/2.0	1,620 (-2%)	2mo	$142,000	$88	94
4656 SE 134th Dr	0.02mi	3/2.0	1,568 (-5%)	13mo	$116,000	$74	80
13460 SE Raymond St	0.16mi	4/2.0 (+1)	1,568 (-5%)	4mo	$129,000	$82	76
5029 SE 133rd Dr #058	0.18mi	3/2.0	1,620 (-2%)	23mo	$138,000	$85	70
5200 SE 132nd Ave	0.23mi	3/2.0	1,404 (-15%)	4mo	$90,000	$64	61
12323 SE Holgate Blvd #11	0.56mi	4/2.0 (+1)	1,568 (-5%)	4mo	$150,000	$96	57
12323 SE Holgate Blvd #6	0.56mi	4/2.0 (+1)	1,404 (-15%)	4mo	$150,000	$107	41
13115 SE Foster Rd #13	0.73mi	4/2.0 (+1)	1,848 (+12%)	11mo	$100,000	$54	32
13115 SE Foster Rd #12	0.70mi	3/2.0	1,848 (+12%)	18mo	$98,000	$53	32

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 · 1.64% rent growth · sell at horizon

5-year hold

• IRR: 11.5%
• Equity multiple: 1.45×
• Total profit: $17,601
• Equity at exit: $20,874

10-year hold

• IRR: 19.3%
• Equity multiple: 2.51×
• Total profit: $59,243
• Equity at exit: $12,105

Cash invested: $39,200 (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 97236

• Rents YoY: 1.6%
• Active inventory: 207
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $2,276 high
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,100/yr
• Insurance: −$58
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$478
• Net cashflow: $679

Break-even live

Break-even rent $1,417

Max offer price $139,999

Occupancy floor 65%

Sensitivity live

Price	-10% $776	-5% $727	+0% $679	+5% $630	+10% $582
Rent	-10% $499	-5% $589	+0% $679	+5% $769	+10% $859
Rate	-1.0pp $749	-0.5pp $714	base $679	+0.5pp $643	+1.0pp $606

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13515 SE Holgate Blvd Portland, OR	3.0	2.0	2160	$2,495	$1.16	44d	1	0.09mi
5329 SE 137th Ave Portland, OR	3.0	2.5	1559	$2,250	$1.44	25d	1	0.28mi
5344 SE 137th Ave Portland, OR	3.0	2.5	1600	$2,395	$1.50	18d	1	0.30mi
3883 SE 136th Ave Portland, OR	4.0	2.5	1660	$2,400	$1.45	44d	1	0.42mi
13726 SE Reedway St Portland, OR	3.0	2.5	1817	$2,295	$1.26	44d	1	0.47mi
13436 SE Bush St Portland, OR	2.0–3.0	1.5–2.0	1075	$1,995	$1.86	44d	1	0.48mi
5524 SE 140th Pl Portland, OR	4.0	3.0	1584	$3,050	$1.93	18d	1	0.48mi
3745-3749 SE 127th Pl Unit 3749 Portland, OR	3.0	2.5	1467	$2,195	$1.50	8d	1	0.60mi
4904 SE 122nd Ave Portland, OR	3.0	3.0	1504	$4,400	$2.93	44d	1	0.61mi
13066 SE Powell Blvd Unit 10 Portland, OR	2.0	2.0	1100	$1,550	$1.41	25d	1	0.63mi
13062 SE Powell Blvd Apt 6 Portland, OR	2.0	2.0	1100	$1,550	$1.41	44d	1	0.67mi
12550 SE Powell Blvd Portland, OR	1.0–3.0	1.0–2.0	1075	$2,300	$2.14	3d	2	0.75mi
12941 SE Foster Rd Portland, OR	1.0–2.0	1.0–2.0	925	$1,595	$1.72	44d	2	0.76mi
3228 SE 136th Ave Portland, OR	2.0–3.0	1.5	1058	$1,597	$1.51	5d	4	0.76mi
6130 SE 128th Ave Apt B Portland, OR	3.0	2.0	1500	$1,999	$1.33	8d	1	0.77mi
3208 SE 136th Ave Unit 3 Portland, OR	3.0	1.5	1217	$1,597	$1.31	25d	1	0.78mi
3315 SE 127th Pl Unit 1 Portland, OR	2.0	1.0	1346	$1,595	$1.18	12d	1	0.81mi
12923 SE Foster Rd Portland, OR	2.0–3.0	2.0	1037	$2,100	$2.03	16d	3	0.81mi
3810 SE 117th Pl Portland, OR	3.0	2.5	1378	$2,445	$1.77	25d	1	0.92mi
6439 SE 143rd Ct #1 Portland, OR	3.0	2.5	1545	$2,395	$1.55	44d	1	0.94mi
3223 SE 122nd Ave Unit A-B Portland, OR	4.0	2.5	1572	$2,495	$1.59	44d	1	0.98mi
12616 SE Taggart St Portland, OR	3.0	1.5	1329	$2,295	$1.73	8d	1	1.02mi
15075 SE Powell Blvd Portland, OR	3.0	3.5	1500	$2,295	$1.53	5d	3	1.09mi
15075 SE Powell Blvd Apt 4 Portland, OR	3.0	3.5	1500	$2,395	$1.60	44d	1	1.09mi
13448 SE Division St Portland, OR	4.0	2.0	1450	$2,550	$1.76	3d	1	1.10mi
13450 SE Division St Portland, OR	4.0	2.0	1450	$2,550	$1.76	44d	1	1.10mi
2658 SE 125th Ave Unit 2654 Portland, OR	3.0	2.5	1378	$2,195	$1.59	4d	1	1.10mi
11908 SE Foster Rd Portland, OR	3.0	2.0	1300	$2,595	$2.00	44d	1	1.11mi
2609 SE 145th Ave Unit H-77 Portland, OR	3.0	1.5	1117	$1,504	$1.35	18d	1	1.11mi
2609 SE 145th Ave Unit C-19 Portland, OR	3.0	1.5	1117	$1,499	$1.34	18d	1	1.11mi
13907 SE Division St Unit 01 Portland, OR	3.0	2.0	1188	$1,723	$1.45	44d	1	1.14mi
14915 SE Woodward St Portland, OR	4.0	2.0	1608	$2,850	$1.77	3d	1	1.17mi
2471 SE 135th Ave Unit 2471 Portland, OR	3.0	1.5	1100	$1,495	$1.36	25d	1	1.18mi
12625 SE Division St Unit B Portland, OR	3.0	2.5	1420	$2,395	$1.69	25d	1	1.25mi
2605 SE 119th Ave Unit 2605 Portland, OR	3.0	1.5	1100	$1,800	$1.64	23d	1	1.30mi
5010 SE 108th Ave Portland, OR	3.0	2.0	1400	$2,350	$1.68	44d	1	1.34mi
7148 SE 118th Dr Portland, OR	2.0	1.0	1400	$3,900	$2.79	44d	1	1.37mi
15110 SE Evergreen Dr Portland, OR	4.0	2.0	1650	$3,400	$2.06	12d	1	1.38mi
2016 SE 122nd Ave Portland, OR	1.0–2.0	1.0–1.5	881	$1,875	$2.13	13d	9	1.49mi
2016 SE 122nd Ave Portland, OR	1.0–2.0	1.0–1.5	881	$1,875	$2.13	8d	9	1.49mi

Listing history 13 events

1. 2026-06-21
   days on market $139,999 Active 20 DOM
2. 2026-06-18
   days on market $139,999 Active 17 DOM
3. 2026-06-17
   days on market $139,999 Active 16 DOM
4. 2026-06-16
   days on market $139,999 Active 15 DOM
5. 2026-06-15
   days on market $139,999 Active 14 DOM
6. 2026-06-13
   days on market $139,999 Active 12 DOM
7. 2026-06-09
   days on market $139,999 Active 8 DOM
8. 2026-06-08
   days on market $139,999 Active 7 DOM
9. 2026-06-07
   days on market $139,999 Active 6 DOM
10. 2026-06-05
    days on market $139,999 Active 3 DOM
11. 2026-06-03
    days on market $139,999 Active 2 DOM
12. 2026-06-02
    remarks 587-char remark
13. 2026-06-02
    listed $139,999 Active 1 DOM

ⓘ 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 AH · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 16 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: $27,316
• − Mortgage interest: −$7,842
• − Property taxes: −$2,100
• − Insurance: −$2,524
• − Repairs & maintenance: −$2,185
• − Management: −$2,185
• − Depreciation: −$4,073
• Taxable income: $6,407
• Est. tax owed @ 24.0%: −$1,538
• After-tax cash flow: $6,608/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 · 13 photos

Good 80/100 Cosmetic rehab

This home is in good condition with updated interiors and a well-maintained exterior. It is move-in ready and would benefit from some exterior painting and landscaping improvements to further enhance its value.

Value-add opportunities

• Resale Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and make the home look more inviting to potential buyers.
• Rental Landscaping improvements — A well-maintained yard can attract more renters and increase the rental value.

Renovation cost estimate screening

Value-add ROI direction

• Resale Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and make the home look more inviting to potential buyers. ↑
• Rental Landscaping improvements — A well-maintained yard can attract more renters and increase the rental value. ↑

ⓘ 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): 37,558
• Household income: $75,090
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 1744.0

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 0.67)
• Race & ethnicity: White 51% Hispanic / Latino 21% Asian 13% Two or more races 12% Black 9% Pacific Islander 1%
• Hispanic origin (detail): Mexican 15% Cuban 1%
• Common ancestry: Italian 3% Scotch-Irish 2% Subsaharan African 2%
• Foreign-born: 25% · Canada, Vietnam, China
• Languages at home: 63% English-only · Spanish 16% Vietnamese 6% Russian/Polish/Slavic 5%

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: ▼ -334.44%
• Current HPI: 289.931
• Rent YoY: ▲ 1.64%
• 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

+115.6% since first listed

3 events — show timeline

• 2026-06-01 Listed $139,999 RMLS
• 1997-11-10 Sold (MLS) $62,000 RMLS
• 1997-07-15 Listed $64,948 RMLS