535 NE Bridgeton Rd #2 · Portland, OR 97211

$268,500

2 bd · 2.0 ba · 1,852 sqft · SingleFamily · 31 Days on market

Built 1980 $145/sqft · 37% below area Est $427k · 37% under

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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 +23.8/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +6.2/10.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Seller carried financing available terms-Min 60k down, max over a 5 year term. Call for details. New carpet installed July 2021. Spacious layout. Kitchen with all appliances included. Loft upstairs leads to 31x12 patio, perfect for entertaining guests! Upper bedroom with large walk in closet. Plenty of space to park your boat right outside your back door! Island Cafe is a 5 minute boat ride. Summer firework shows nearby. Winter Christmas light ships pass right by. Won't last long.

Key facts

• Dedicated pantry
• Modern kitchen
• Huge deck space

Tags

• CERTIFIED LEVEL 3 RATING
• DUAL-PRIMARY SUITE LAYOUT
• MODERN KITCHEN
• DEDICATED PANTRY
• BRAND-NEW QUARTZ COUNTERTOPS
• HUGE DECK SPACE

Property features AI

Finance

• HOA & community: Community provides commons area and management; Community handles water, sewer and trash

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; Electricity and wood burning fuel options; Cable internet available
• Home design: Residential floating home; Not attached to another property; View of river and trees/woods; Main and upper levels (living areas on both levels)
• Construction: Built in 1980; Aluminum exterior; Other foundation type
• Exterior features: Metal roof; Covered deck and deck; Porch; Dock on the Columbia River; Raised garden beds; Tool shed; Paved public road access; Riverfront location with views of the river and trees/woods

Interior

• Kitchen: Dishwasher; Free-standing range; Free-standing refrigerator; Microwave; Eat bar; Pantry; Quartz countertops; Hardwood floors in kitchen
• Bedrooms: Primary bedroom on upper level with ceiling fan, sliding doors and closet; Second bedroom on main level with ceiling fan and closet; Den on upper level with sliding doors
• Flooring: Hardwood floors; Laminate flooring; Wall-to-wall carpet
• Bathrooms: Two full bathrooms (one on main level, one on upper level)
• Heating & cooling: Mini split heating and cooling; Pellet stove heating; Wall unit(s) for cooling
• Interior features: Ceiling fans; Furnished; Hardwood floors; Laminate flooring; Wall-to-wall carpet; Laundry area; Water purifier; Pellet stove fireplace (1)
• Laundry & utility: Main-level laundry with washer/dryer; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $268k.

Deal economics

• At list price, monthly cash flow is $515 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $268k).
• Recommended offer: $260k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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.
• Portland SD 1J (urban): math 46% / reading 58% proficiency, ranked #23 of 183 in OR (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Faubion Elementary School (610 students, 73% FRL); Roosevelt High School (1,484 students, 65% FRL) — zoned schools average 69% FRL vs 37% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 180 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 2,041 units permitted in Multnomah County in 2024 (905 in 5+ unit buildings).
• This rent runs 32% of the median local income ($113k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($260k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 26y 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.

Recommended offer $260,445 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 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. 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: 1.12% ✓
• Cap rate: 8.60%
• Cash-on-cash: 8.22%
• DSCR: 1.37
• GRM: 7.5

CMA / ARV

• ARV (median comp): $426,750
• List price: $268,500
• Delta: -37.08%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
380 N Tomahawk Island Dr	0.51mi	3/3.0 (+1)	1,800 (-3%)	9mo	$540,000	$300	56
160 N Tomahawk Island Dr	0.52mi	3/2.0 (+1)	1,851 (-0%)	22mo	$425,000	$230	52
710 NE South Shore Rd	0.34mi	3/1.0 (+1)	2,005 (+8%)	12mo	$485,000	$242	52
647 NE Meadow Dr	0.50mi	3/2.0 (+1)	1,686 (-9%)	8mo	$570,000	$338	50
500 N Tomahawk Island Dr	0.70mi	3/3.0 (+1)	1,720 (-7%)	0mo	$745,000	$433	46
11638 N Island Cove Ln	0.74mi	2/2.0	1,648 (-11%)	2mo	$275,000	$167	45
253 N Lotus Isle Dr	0.52mi	3/3.0 (+1)	1,898 (+2%)	24mo	$630,000	$332	43
531 N Bridgeton Rd Unit 4A	0.61mi	3/2.0 (+1)	1,952 (+5%)	22mo	$555,000	$284	39

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 · 0.52% rent growth · sell at horizon

5-year hold

• IRR: -6.6%
• Equity multiple: 0.76×
• Total profit: $-17,956
• Equity at exit: $40,034

10-year hold

• IRR: -0.4%
• Equity multiple: 0.98×
• Total profit: $-1,729
• Equity at exit: $23,215

Cash invested: $75,180 (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 97211

• Rents YoY: 0.5%
• Active inventory: 180
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $3,001 high
• Mortgage (P&I): −$1,408
• Tax est. 1.5%: −$336 /mo · $4,028/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$630
• Net cashflow: $515

Break-even live

Break-even rent $2,349

Max offer price $268,500

Occupancy floor 78%

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: $67,125
• Closing costs: $8,055
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10722 NE 5th Ave Portland, OR	2.0	2.5	1611	$2,495	$1.55	16d	1	0.11mi
112 NE Bridgeton Rd Portland, OR	3.0	2.5	2200	$4,700	$2.14	43d	1	0.23mi
11505 NE Yacht Harbor Dr Portland, OR	2.0	2.0	2559	$4,356	$1.70	1d	5	0.26mi
110 N Tomahawk Island Dr Portland, OR	1.0–2.0	1.0–2.0	994	$2,674	$2.69	1d	27	0.42mi
995 N Marine Dr Portland, OR	2.0	1.0–2.0	924	$2,036	$2.20	2d	11	0.77mi
540 N Hayden Bay Dr Portland, OR	3.0	2.0	1816	$3,095	$1.70	3d	1	0.81mi
1055 N Anchor Way Portland, OR	1.0–2.0	1.0–2.0	1056	$3,150	$2.98	1d	34	0.86mi
1421 SE Columbia Way Vancouver, WA	3.0	2.5	1700	$3,300	$1.94	17d	1	1.07mi
520 SE Columbia River Dr Vancouver, WA	2.0	2.0–2.5	1207	$2,395	$1.98	17d	2	1.07mi
520 SE Columbia River Dr #420 Vancouver, WA	2.0	2.5	1350	$2,495	$1.85	21d	1	1.07mi
1747 N Jantzen Ave Portland, OR	3.0	4.0	2000	$3,100	$1.55	43d	1	1.46mi

Listing history 27 events

1. 2026-06-13
   pricestatusdays on market $268,500 Pending 31 DOM
2. 2026-06-09
   days on market $279,900 Active 27 DOM
3. 2026-06-08
   days on market $279,900 Active 26 DOM
4. 2026-06-07
   days on market $279,900 Active 25 DOM
5. 2026-06-03
   days on market $279,900 Active 21 DOM
6. 2026-06-02
   days on market $279,900 Active 20 DOM
7. 2026-06-01
   days on market $279,900 Active 19 DOM
8. 2026-05-31
   days on market $279,900 Active 18 DOM
9. 2026-05-13
   listed $279,900 Active 1564-char remark
10. 2022-10-25
    soldstatus $242,500 Closed 485-char remark

    Show marketing remark (485 chars)

    Seller carried financing available terms-Min 60k down, max over a 5 year term. Call for details. New carpet installed July 2021. Spacious layout. Kitchen with all appliances included. Loft upstairs leads to 31x12 patio, perfect for entertaining guests! Upper bedroom with large walk in closet. Plenty of space to park your boat right outside your back door! Island Cafe is a 5 minute boat ride. Summer firework shows nearby. Winter Christmas light ships pass right by. Won't last long.

11. 2022-10-10
    status Pending 485-char remark

    Show marketing remark (485 chars)

    Seller carried financing available terms-Min 60k down, max over a 5 year term. Call for details. New carpet installed July 2021. Spacious layout. Kitchen with all appliances included. Loft upstairs leads to 31x12 patio, perfect for entertaining guests! Upper bedroom with large walk in closet. Plenty of space to park your boat right outside your back door! Island Cafe is a 5 minute boat ride. Summer firework shows nearby. Winter Christmas light ships pass right by. Won't last long.

12. 2022-09-20
    price $250,000 485-char remark

    Show marketing remark (485 chars)

    Seller carried financing available terms-Min 60k down, max over a 5 year term. Call for details. New carpet installed July 2021. Spacious layout. Kitchen with all appliances included. Loft upstairs leads to 31x12 patio, perfect for entertaining guests! Upper bedroom with large walk in closet. Plenty of space to park your boat right outside your back door! Island Cafe is a 5 minute boat ride. Summer firework shows nearby. Winter Christmas light ships pass right by. Won't last long.

13. 2022-08-02
    price $297,900 485-char remark

    Show marketing remark (485 chars)

    Seller carried financing available terms-Min 60k down, max over a 5 year term. Call for details. New carpet installed July 2021. Spacious layout. Kitchen with all appliances included. Loft upstairs leads to 31x12 patio, perfect for entertaining guests! Upper bedroom with large walk in closet. Plenty of space to park your boat right outside your back door! Island Cafe is a 5 minute boat ride. Summer firework shows nearby. Winter Christmas light ships pass right by. Won't last long.

14. 2022-05-02
    price $312,900 485-char remark

    Show marketing remark (485 chars)

    Seller carried financing available terms-Min 60k down, max over a 5 year term. Call for details. New carpet installed July 2021. Spacious layout. Kitchen with all appliances included. Loft upstairs leads to 31x12 patio, perfect for entertaining guests! Upper bedroom with large walk in closet. Plenty of space to park your boat right outside your back door! Island Cafe is a 5 minute boat ride. Summer firework shows nearby. Winter Christmas light ships pass right by. Won't last long.

15. 2022-02-08
    price $313,900 485-char remark

    Show marketing remark (485 chars)

    Seller carried financing available terms-Min 60k down, max over a 5 year term. Call for details. New carpet installed July 2021. Spacious layout. Kitchen with all appliances included. Loft upstairs leads to 31x12 patio, perfect for entertaining guests! Upper bedroom with large walk in closet. Plenty of space to park your boat right outside your back door! Island Cafe is a 5 minute boat ride. Summer firework shows nearby. Winter Christmas light ships pass right by. Won't last long.

16. 2021-12-26
    price $314,000 485-char remark

    Show marketing remark (485 chars)

    Seller carried financing available terms-Min 60k down, max over a 5 year term. Call for details. New carpet installed July 2021. Spacious layout. Kitchen with all appliances included. Loft upstairs leads to 31x12 patio, perfect for entertaining guests! Upper bedroom with large walk in closet. Plenty of space to park your boat right outside your back door! Island Cafe is a 5 minute boat ride. Summer firework shows nearby. Winter Christmas light ships pass right by. Won't last long.

17. 2021-11-30
    price $313,900 485-char remark

    Show marketing remark (485 chars)

    Seller carried financing available terms-Min 60k down, max over a 5 year term. Call for details. New carpet installed July 2021. Spacious layout. Kitchen with all appliances included. Loft upstairs leads to 31x12 patio, perfect for entertaining guests! Upper bedroom with large walk in closet. Plenty of space to park your boat right outside your back door! Island Cafe is a 5 minute boat ride. Summer firework shows nearby. Winter Christmas light ships pass right by. Won't last long.

18. 2021-11-02
    price $314,000 485-char remark

    Show marketing remark (485 chars)

    Seller carried financing available terms-Min 60k down, max over a 5 year term. Call for details. New carpet installed July 2021. Spacious layout. Kitchen with all appliances included. Loft upstairs leads to 31x12 patio, perfect for entertaining guests! Upper bedroom with large walk in closet. Plenty of space to park your boat right outside your back door! Island Cafe is a 5 minute boat ride. Summer firework shows nearby. Winter Christmas light ships pass right by. Won't last long.

19. 2021-10-31
    status Active 485-char remark

    Show marketing remark (485 chars)

    Seller carried financing available terms-Min 60k down, max over a 5 year term. Call for details. New carpet installed July 2021. Spacious layout. Kitchen with all appliances included. Loft upstairs leads to 31x12 patio, perfect for entertaining guests! Upper bedroom with large walk in closet. Plenty of space to park your boat right outside your back door! Island Cafe is a 5 minute boat ride. Summer firework shows nearby. Winter Christmas light ships pass right by. Won't last long.

20. 2021-09-21
    status Active 485-char remark

    Show marketing remark (485 chars)

    Seller carried financing available terms-Min 60k down, max over a 5 year term. Call for details. New carpet installed July 2021. Spacious layout. Kitchen with all appliances included. Loft upstairs leads to 31x12 patio, perfect for entertaining guests! Upper bedroom with large walk in closet. Plenty of space to park your boat right outside your back door! Island Cafe is a 5 minute boat ride. Summer firework shows nearby. Winter Christmas light ships pass right by. Won't last long.

21. 2021-09-17
    historical Active with Bumpable Contingency 485-char remark

    Show marketing remark (485 chars)

    Seller carried financing available terms-Min 60k down, max over a 5 year term. Call for details. New carpet installed July 2021. Spacious layout. Kitchen with all appliances included. Loft upstairs leads to 31x12 patio, perfect for entertaining guests! Upper bedroom with large walk in closet. Plenty of space to park your boat right outside your back door! Island Cafe is a 5 minute boat ride. Summer firework shows nearby. Winter Christmas light ships pass right by. Won't last long.

22. 2021-08-04
    listed $319,000 Active 485-char remark

    Show marketing remark (485 chars)

    Seller carried financing available terms-Min 60k down, max over a 5 year term. Call for details. New carpet installed July 2021. Spacious layout. Kitchen with all appliances included. Loft upstairs leads to 31x12 patio, perfect for entertaining guests! Upper bedroom with large walk in closet. Plenty of space to park your boat right outside your back door! Island Cafe is a 5 minute boat ride. Summer firework shows nearby. Winter Christmas light ships pass right by. Won't last long.

23. 2004-04-15
    soldstatus $161,000

    Show marketing remark (213 chars)

    WONDERFUL NORTH PORTLAND HARBOR VIEW IN THIS 1600' SQ FT HOME. NEW STRINGERS. COVERED DECK PLUS PRIVATE UPPER DECK. FLOOR TO CEILING WINDOWS. WONDERFUL MASTER SUITE. ROOM TO MOOR 35' BOAT. LOW MONTHLY MOORAGE FEE.

24. 2004-03-26
    historical

    Show marketing remark (213 chars)

    WONDERFUL NORTH PORTLAND HARBOR VIEW IN THIS 1600' SQ FT HOME. NEW STRINGERS. COVERED DECK PLUS PRIVATE UPPER DECK. FLOOR TO CEILING WINDOWS. WONDERFUL MASTER SUITE. ROOM TO MOOR 35' BOAT. LOW MONTHLY MOORAGE FEE.

25. 2004-01-11
    listed $168,000

    Show marketing remark (213 chars)

    WONDERFUL NORTH PORTLAND HARBOR VIEW IN THIS 1600' SQ FT HOME. NEW STRINGERS. COVERED DECK PLUS PRIVATE UPPER DECK. FLOOR TO CEILING WINDOWS. WONDERFUL MASTER SUITE. ROOM TO MOOR 35' BOAT. LOW MONTHLY MOORAGE FEE.

26. 2000-04-13
    soldstatus $138,000
27. 2000-01-20
    listed $139,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $36,012
• − Mortgage interest: −$15,040
• − Property taxes: −$4,028
• − Insurance: −$1,342
• − Repairs & maintenance: −$2,881
• − Management: −$2,881
• − Depreciation: −$7,811
• Taxable income: $2,029
• Est. tax owed @ 24.0%: −$487
• After-tax cash flow: $5,696/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: Portland SD 1J
• NCES district ID: 4110040
• Math proficiency: 46% ▼ -2.00%
• Reading proficiency: 58% ▼ -3.00%
• Median HH income: $57,851
• Composite: 47.1/100
• National rank: #5112
• State rank: #23 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): 33,769
• Household income: $112,586
• Rent vs Own: 37.6% rent · 62.4% own
• Severe rent burden: 1162.0

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: Predominantly White (68%)
• Race & ethnicity: White 68% Two or more races 12% Black 10% Hispanic / Latino 9% Asian 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 3% Lithuanian 3% Slovak 3%
• Foreign-born: 7% · Canada, Vietnam, China
• Languages at home: 88% English-only · Spanish 6% French/Haitian/Cajun 1% Vietnamese 1%

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: ▼ -813.54%
• Current HPI: 372.7719
• Rent YoY: ▲ 0.52%
• 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

+92.5% since first listed

21 events — show timeline

• 2026-06-13 Pending — RMLS
• 2026-06-11 Price Changed $268,500 RMLS
• 2026-05-13 Listed $279,900 RMLS
• 2022-10-25 Sold (MLS) $242,500 RMLS
• 2022-10-10 Pending — RMLS
• 2022-09-20 Price Changed $250,000 RMLS
• 2022-08-02 Price Changed $297,900 RMLS
• 2022-05-02 Price Changed $312,900 RMLS
• 2022-02-08 Price Changed $313,900 RMLS
• 2021-12-26 Price Changed $314,000 RMLS
• 2021-11-30 Price Changed $313,900 RMLS
• 2021-11-02 Price Changed $314,000 RMLS
• 2021-10-31 Relisted — RMLS
• 2021-09-21 Relisted — RMLS
• 2021-09-17 Contingent — RMLS
• 2021-08-04 Listed $319,000 RMLS
• 2004-04-15 Sold (MLS) $161,000 RMLS
• 2004-03-26 Delisted — RMLS
• 2004-01-11 Listed $168,000 RMLS
• 2000-04-13 Sold (MLS) $138,000 RMLS
• 2000-01-20 Listed $139,500 RMLS