11564 SW Royal Villa Dr · Tigard, OR 97224

$37,000

2 bd · 1.0 ba · 800 sqft · Manufactured · 34 Days on market

Built 1973 Fair condition $46/sqft · at area comps Est $37k · at est. ↓ 6% since listing

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +8.1/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.9/10.0
• Livability +4.4/5.0
• Rent growth +2.4/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Reduced price and added Buyer Incentive - Seller to offer1 months' worth of space rent credit at closing with acceptable offer! Incredible value at this price! This 2 Bedroom, 1 bath home in a fantastic 55+ community has a great layout with a spacious living room upon entry, connected dining room and kitchen. All kitchen cabinets and interior doors have been freshly painted! Large, vinyl double-paned windows allow for plenty of light in the living areas. The dining area includes a built-in china cabinet with lighting. A window A/C unit does the job to keep cool when needed. The home is in need of some minor cosmetic fixes (carpeting, paint) but this one is move-in ready and just needs your

Key facts

• Swimming pool
• Covered patio
• Community room

Tags

• SPACIOUS LIVING ROOM
• BUILT-IN CHINA CABINET
• COVERED PATIO
• EASY ACCESS TO PAVED PATHS
• SWIMMING POOL
• COMMUNITY ROOM

Property features AI

Finance

• Other: Located in Royal Villas park (11564 SW Royal Villa Dr, Tigard, OR); Lot is level with paved road access
• Financial info: Land lease applies; lot rent $1,225 per month; Land lease expiration date December 31, 2099
• HOA & community: Community amenities: commons, gym, library, maintained grounds, management, meeting room, party room, pool, road maintenance, weight room; Park is a senior community; Pet restrictions: see rules / talk to management

Exterior

• Parking: Carport (1 space)
• Security: No security features listed
• Utilities: Electric service; Public water; Public sewer
• Home design: Manufactured home in park (Brookwood model by Rex); Single-level residence; Resale condition; No notable view
• Construction: Built in 1973; Skirting foundation
• Exterior features: Covered patio; Garden; Tool shed; Metal siding; Rubber roof

Interior

• Kitchen: Dishwasher; Free-standing range; Free-standing refrigerator; Laminate flooring in kitchen
• Bedrooms: Primary bedroom on main level with walk-in closet; Second bedroom on main level with walk-in closet
• Flooring: Laminate flooring in kitchen and laundry; Wall-to-wall carpet in bedrooms, living room, dining room
• Bathrooms: One full bathroom on main level
• Heating & cooling: Forced-air heating; Window cooling unit(s)
• Interior features: Main-floor laundry with exterior entry; Laundry area includes washer/dryer hookups; Accessibility features: minimal steps, one level, utility room on main; Double-pane windows with vinyl frames; Laminate flooring in kitchen and laundry; Wall-to-wall carpet in bedrooms, living and dining areas
• Laundry & utility: Main-floor laundry with exterior entry and washer/dryer; Hot water: electric tank

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $37k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $37k).
• Recommended offer: $36k (3.0% below list) — sets the bar for market timing.
• Cap rate 42.4% vs local median 2.5% in Tigard — 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 87/100 on livability (#14 in OR, #311 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: crime D-, cost of living F.
• 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.
• Zoned schools: James Templeton Elementary School (reading 24%, 514 students, 47% FRL); Twality Middle School (math 54% / reading 64%, grade B, #17 of 128 statewide, top 14%, 918 students, 31% FRL); Tigard High School (math 24% / reading 75%, grade D+, #32 of 143 statewide, top 34%, 1,799 students, 31% FRL).
• Market conditions: Rents soft (-0.4%/yr); 412 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 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 $256 of loan paydown is wiped out by about $1k 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 $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($36k) is reasonable based on typical stale-listing flexibility.

Recommended offer $35,890 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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?
6. Crime grade is D 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 4.69% ✓
• Cap rate: 42.44%
• Cash-on-cash: 129.11%
• DSCR: 6.74
• GRM: 1.8

CMA / ARV

• ARV (median comp): $37,480
• List price: $37,000
• Delta: 5.39%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11712 SW Royal Villa Dr #96	0.05mi	2/1.0	760 (-5%)	8mo	$45,000	$59	83
11544 SW Royal Villa Dr	0.02mi	2/1.0	800 (0%)	20mo	$22,500	$28	82
11544 SW Royal Villa Dr #15	0.14mi	2/1.0	800 (0%)	18mo	$59,500	$74	78
11736 SW Royal Villa Dr	0.12mi	1/1.0 (-1)	732 (-8%)	7mo	$32,000	$44	69
11626 SW Royal Villa Dr	0.06mi	2/2.0	840 (+5%)	24mo	$39,500	$47	65
17181 SW Eldorado Dr	0.72mi	2/1.0	864 (+8%)	10mo	$14,500	$17	45

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: —
• Equity multiple: 6.79×
• Total profit: $59,942
• Equity at exit: $5,517

10-year hold

• IRR: —
• Equity multiple: 12.98×
• Total profit: $124,073
• Equity at exit: $3,199

Cash invested: $10,360 (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: 1.8×

Monthly cashflow live

• Estimated rent: $1,735 high
• Mortgage (P&I): −$194
• Tax est. 1.5%: −$46 /mo · $555/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $1,115

Break-even live

Break-even rent $324

Max offer price $37,000

Occupancy floor 31%

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: $9,250
• Closing costs: $1,110
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17000 SW Pacific Hwy Portland, OR	1.0–2.0	1.0–2.0	684	$1,575	$2.30	44d	3	0.34mi
12070 SW Fischer Rd Portland, OR	1.0–3.0	1.0–2.0	925	$1,812	$1.96	2d	9	0.35mi
16055 SW 108th Ave Tigard, OR	1.0–2.0	1.0–2.0	852	$1,940	$2.28	8d	9	0.45mi
10900 SW Gaarde St Portland, OR	2.0	1.0	825	$1,525	$1.85	8d	4	0.60mi
10900 SW Gaarde St Unit 273-16 Tigard, OR	2.0	1.0	900	$1,575	$1.75	24d	1	0.60mi
11773 SW King George Dr King City, OR	1.0–2.0	1.0–2.0	826	$2,500	$3.03	11d	7	0.63mi
11865 SW Tualatin Rd Tualatin, OR	2.0–3.0	2.0–2.5	1154	$1,697	$1.47	2d	19	0.63mi
16444 SW 130th Ter King City, OR	2.0	2.0	1002	$1,695	$1.69	44d	1	0.70mi
11390 SW Naeve St Tigard, OR	1.0–2.0	1.0–2.0	893	$2,119	$2.37	3d	5	0.71mi
15199 SW Royalty Pkwy Portland, OR	1.0–3.0	1.0–2.0	884	$1,805	$2.04	2d	12	0.73mi
17979 SW 115th Ave Unit 6 Tualatin, OR	2.0	1.5	1064	$1,625	$1.53	24d	1	0.74mi
17987 SW 115th Ave Unit 1 Tualatin, OR	2.0	1.0	900	$1,475	$1.64	24d	1	0.75mi
17989 SW 115th Ave Tualatin, OR	2.0	1.0–1.5	982	$1,550	$1.58	24d	2	0.75mi
13060 SW Dickson St Portland, OR	2.0	2.0	1108	$1,850	$1.67	44d	1	0.76mi
11545 SW Beef Bend Rd Portland, OR	2.0	2.0	935	$1,514	$1.62	3d	1	0.77mi
17865 SW Pacific Hwy Tualatin, OR	1.0–3.0	1.0–2.0	970	$1,970	$2.03	2d	13	0.79mi
16849 SW 131st Ave Portland, OR	2.0	2.0	1029	$1,950	$1.90	15d	1	0.82mi
16901 SW 132nd Ter Unit 16915 B Tigard, OR	1.0	1.0	714	$1,695	$2.37	4d	1	0.85mi
14844 SW 109th Ave Portland, OR	2.0	1.5	1024	$1,950	$1.90	44d	1	0.88mi
11430 SW Bull Mountain Rd Tigard, OR	2.0	2.0	986	$1,970	$2.00	3d	6	0.90mi
14799 SW 109th Ave Unit 3102 Tigard, OR	2.0	2.0	986	$1,695	$1.72	8d	1	0.90mi
14799 SW 109th Ave Unit 5702 Tigard, OR	2.0	2.0	986	$1,745	$1.77	22d	1	0.90mi
14799 SW 109th Ave Unit 2502 Tigard, OR	2.0	2.0	986	$1,645	$1.67	44d	1	0.90mi
14799 SW 109th Ave Unit 7504 Tigard, OR	2.0	2.0	986	$1,575	$1.60	24d	1	0.90mi
10695 SW Murdock St Tigard, OR	2.0	1.0	793	$1,806	$2.28	2d	13	0.95mi
14100 SW 112th Ave Unit A03 Portland, OR	1.0	1.0	840	$1,550	$1.85	44d	1	1.15mi
14100 SW 112th Ave Unit I08 Portland, OR	2.0	1.0	1084	$1,614	$1.49	12d	1	1.15mi
14100 SW 112th Ave Unit F06 Portland, OR	2.0	1.0	840	$1,614	$1.92	44d	1	1.15mi
11050 SW Gaarde St Portland, OR	2.0	1.0	776	$1,400	$1.80	44d	1	1.19mi
10900 SW Gaarde St Unit 273-04 Tigard, OR	2.0	1.0	750	$1,350	$1.80	24d	1	1.20mi
13830 SW Chinn Ln Portland, OR	1.0–3.0	1.0–2.0	839	$1,724	$2.05	3d	11	1.21mi
14070 SW 112th Ave Portland, OR	1.0	1.0	700	$1,250	$1.79	44d	1	1.22mi
9720 SW Tualatin Rd Tualatin, OR	2.0	2.0	1100	$1,750	$1.59	44d	1	1.24mi
14130 SW 105th Ave Portland, OR	2.0	1.0	900	$1,495	$1.66	24d	1	1.25mi
10450 SW McDonald St Unit 46 Portland, OR	2.0	1.0	800	$1,475	$1.84	44d	1	1.30mi
10450 SW McDonald St Unit 51 Portland, OR	1.0	1.0	700	$1,325	$1.89	44d	1	1.31mi
10450 SW McDonald St Unit 5 Tigard, OR	2.0	1.0	800	$1,475	$1.84	20d	1	1.32mi
14495 SW Beef Bend Rd Portland, OR	1.0–2.0	1.0–2.0	845	$1,925	$2.28	4d	12	1.39mi
15870 SW 88th Ave Unit A Tigard, OR	2.0	1.0	1013	$1,745	$1.72	44d	1	1.40mi
13660 SW Pacific Hwy Unit 232-41 Tigard, OR	2.0	1.0	690	$1,600	$2.32	44d	1	1.49mi

Listing history 14 events

1. 2026-06-18
   days on market $37,000 Active 34 DOM
2. 2026-06-17
   pricedays on market $37,000 Active 33 DOM
3. 2026-06-16
   days on market $39,500 Active 32 DOM
4. 2026-06-15
   days on market $39,500 Active 31 DOM
5. 2026-06-13
   days on market $39,500 Active 29 DOM
6. 2026-06-09
   days on market $39,500 Active 25 DOM
7. 2026-06-08
   days on market $39,500 Active 24 DOM
8. 2026-06-07
   days on market $39,500 Active 23 DOM
9. 2026-06-05
   days on market $39,500 Active 20 DOM
10. 2026-06-03
    days on market $39,500 Active 19 DOM
11. 2026-06-02
    days on market $39,500 Active 18 DOM
12. 2026-06-01
    days on market $39,500 Active 17 DOM
13. 2026-05-31
    days on market $39,500 Active 16 DOM
14. 2026-05-15
    listed $39,500 Active 1107-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 1/10 Low
• 🌡 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: $20,816
• − Mortgage interest: −$2,073
• − Property taxes: −$555
• − Insurance: −$185
• − Repairs & maintenance: −$1,665
• − Management: −$1,665
• − Depreciation: −$1,076
• Taxable income: $13,596
• Est. tax owed @ 24.0%: −$3,263
• After-tax cash flow: $10,113/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 Cosmetic rehab

This 2-bedroom, 1-bath home in a 55+ community is move-in ready with minor cosmetic fixes needed. Painting and flooring upgrades would significantly enhance its value.

Repairs flagged

• Minor carpeting — visible wear and tear
• Minor paint — faded in some areas

Value-add opportunities

• Both painting the interior walls and cabinets — enhances curb appeal and interior aesthetics
• Both replacing the carpet with hardwood or tile flooring — increases both resale and rental value
• Both upgrading the kitchen appliances — modernizes the space and appeals to a wider range of buyers

Renovation cost estimate screening

Repair item	Severity	Est. cost
carpeting · visible wear and tear	Minor	$500–3,000
paint · faded in some areas	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both painting the interior walls and cabinets — enhances curb appeal and interior aesthetics ↑
• Both replacing the carpet with hardwood or tile flooring — increases both resale and rental value ↑
• Both upgrading the kitchen appliances — modernizes the space and appeals to a wider range of buyers ↑

ⓘ 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: 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 — Tigard

• Score: 87/100
• State rank: #14
• US rank: #311

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Washington County · 583,254 people
• City population: 87,096
• 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

-6.3% since first listed

2 events — show timeline

• 2026-06-16 Price Changed $37,000 RMLS
• 2026-05-15 Listed $39,500 RMLS