15768 SE Powell Blvd #28 · Portland, OR 97236

$119,000

3 bd · 2.0 ba · 1,568 sqft · Manufactured public records · 72 Days on market

Built 1993 $76/sqft · at area comps Est $122k · 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 +8.7/15.0
• Livability +3.9/5.0
• Schools +3.5/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious & Light-Filled Home Near Powell Butte – Room for Everyone! Welcome home to this sprawling, thoughtfully designed residence offering space, comfort, and flexibility for today’s lifestyle. With 3 bedrooms plus a den, this home provides room for everyone to spread out and enjoy their own space. The expansive living room and formal dining area are perfect for entertaining, while the charming breakfast nook just off the kitchen creates a cozy spot for everyday meals. Multiple skylights throughout the home flood the interior with natural light, creating a warm and inviting atmosphere. The oversized primary suite is your private retreat, featuring a spa-like bathroom with double sinks and a walk-in shower. The versatile den is ideal as a media room, home office, or creative space—tailored to fit your needs. You’ll love the thoughtful storage options, including a coat closet, linen closet, and a spacious utility room with plenty of extra storage. Step outside to enjoy the easy-care yard and fully fenced patio area—perfect for relaxing or entertaining. An oversized shed adds even more functionality and storage. Located just steps from Powell Butte Nature Park, this home offers the perfect balance of nature and convenience, with quick access to freeways, shopping, dining, and more. Spacious, bright, and ideally located—this home truly has it all.

Key facts

• Multiple skylights
• Light filled home
• Formal dining area

Tags

• LIGHT FILLED HOME
• SPRAWLING RESIDENCE
• EXPANSIVE LIVING ROOM
• FORMAL DINING AREA
• CHARMING BREAKFAST NOOK
• MULTIPLE SKYLIGHTS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $119k.

Deal economics

• At list price, monthly cash flow is $939 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $119k).
• Recommended offer: $112k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.8% 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.
• Centennial SD 28J (suburban): math 31% / reading 43% proficiency, ranked #125 of 183 in OR (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• 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 23d 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).
• This rent runs 34% of the median local income ($75k/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 $823 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 $33k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($112k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $111,860 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.77% ✓
• Cap rate: 15.76%
• Cash-on-cash: 33.83%
• DSCR: 2.51
• GRM: 4.7

CMA / ARV

• ARV (median comp): $122,295
• List price: $119,000
• Delta: -2.69%
• Verdict: FAIR
• Comps: 5 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15768 SE Powell Blvd #13	0.09mi	3/2.0	1,568 (0%)	9mo	$149,900	$96	88
16000 SE Powell Blvd #21	0.09mi	3/2.0	1,641 (+5%)	19mo	$114,000	$69	72
16000 SE Powell Blvd #16	0.09mi	3/2.0	1,404 (-10%)	8mo	$69,985	$50	72
3930 SE 162nd Ave	0.32mi	2/2.0 (-1)	1,568 (0%)	13mo	$113,500	$72	69
3930 SE 162nd Ave #4	0.28mi	3/2.0	1,456 (-7%)	11mo	$119,999	$82	66
16000 SE Powell Blvd #76	0.16mi	3/2.0	1,456 (-7%)	22mo	$138,000	$95	62

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: 27.7%
• Equity multiple: 2.13×
• Total profit: $37,662
• Equity at exit: $17,743

10-year hold

• IRR: 34.4%
• Equity multiple: 3.95×
• Total profit: $98,341
• Equity at exit: $10,289

Cash invested: $33,320 (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: 4.7×

Monthly cashflow live

• Estimated rent: $2,110 high
• Mortgage (P&I): −$624
• Tax from tax record: −$54 /mo · $653/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$443
• Net cashflow: $939

Break-even live

Break-even rent $922

Max offer price $119,000

Occupancy floor 50%

Sensitivity live

Price	-10% $1,007	-5% $973	+0% $939	+5% $906	+10% $872
Rent	-10% $773	-5% $856	+0% $939	+5% $1,023	+10% $1,106
Rate	-1.0pp $999	-0.5pp $970	base $939	+0.5pp $908	+1.0pp $877

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15075 SE Powell Blvd Apt 4 Portland, OR	3.0	3.5	1500	$2,395	$1.60	45d	1	0.37mi
15075 SE Powell Blvd Portland, OR	3.0	3.5	1500	$2,295	$1.53	5d	3	0.37mi
14915 SE Woodward St Portland, OR	4.0	2.0	1608	$2,850	$1.77	3d	1	0.56mi
16804 SE Powell Blvd Portland, OR	3.0	3.0	1564	$2,350	$1.50	25d	1	0.60mi
16804 SE Powell Blvd Portland, OR	2.0	2.0	1101	$1,625	$1.48	11d	1	0.60mi
16804 SE Powell Blvd Portland, OR	2.0	2.0	1070	$1,675	$1.57	16d	1	0.60mi
16804 SE Powell Blvd Unit 04-101 Portland, OR	3.0	2.5	1564	$2,350	$1.50	23d	1	0.60mi
16804 SE Powell Blvd Unit 08-202 Portland, OR	2.0	2.0	1070	$1,395	$1.30	23d	1	0.60mi
16804 SE Powell Blvd Unit 12-102 Portland, OR	2.0	2.0	1070	$1,725	$1.61	23d	1	0.60mi
16804 SE Powell Blvd Unit 18-201 Portland, OR	2.0	2.0	1070	$1,675	$1.57	23d	1	0.60mi
16824 SE Powell Blvd Portland, OR	2.0	2.0	1070	$1,720	$1.61	5d	5	0.61mi
16811 SE Francis St Portland, OR	3.0	1.0	1488	$2,600	$1.75	16d	1	0.62mi
16916 SE Powell Blvd Portland, OR	2.0	2.0	1070	$1,695	$1.58	45d	1	0.64mi
2641 SE 168th Ave Portland, OR	3.0	1.5	1144	$2,700	$2.36	45d	1	0.82mi
2609 SE 145th Ave Unit H-77 Portland, OR	3.0	1.5	1117	$1,504	$1.35	19d	1	0.83mi
2609 SE 145th Ave Unit C-19 Portland, OR	3.0	1.5	1117	$1,499	$1.34	19d	1	0.83mi
3208 SE 136th Ave Unit 3 Portland, OR	3.0	1.5	1217	$1,597	$1.31	25d	1	1.04mi
3228 SE 136th Ave Portland, OR	2.0–3.0	1.5	1058	$1,597	$1.51	5d	4	1.06mi
1811 SE 162nd Ave Portland, OR	3.0	1.5	1092	$2,295	$2.10	25d	1	1.06mi
16456 SE Stephens Ct Portland, OR	3.0	1.5	1280	$2,495	$1.95	4d	1	1.08mi
3883 SE 136th Ave Portland, OR	4.0	2.5	1660	$2,400	$1.45	45d	1	1.09mi
13436 SE Bush St Portland, OR	2.0–3.0	1.5–2.0	1075	$1,995	$1.86	45d	1	1.09mi
13907 SE Division St Unit 01 Portland, OR	3.0	2.0	1188	$1,723	$1.45	45d	1	1.11mi
14909 SE Mill St Portland, OR	3.0	1.0	1550	$2,495	$1.61	21d	1	1.13mi
13515 SE Holgate Blvd Portland, OR	3.0	2.0	2160	$2,495	$1.16	45d	1	1.15mi
5524 SE 140th Pl Portland, OR	4.0	3.0	1584	$3,050	$1.93	18d	1	1.16mi
4850 SW 11th St Gresham, OR	2.0	2.0	1075	$1,575	$1.47	5d	2	1.20mi
4777 SW 11th St Gresham, OR	2.0–3.0	2.0	1042	$2,134	$2.05	3d	5	1.20mi
5344 SE 137th Ave Portland, OR	3.0	2.5	1600	$2,395	$1.50	19d	1	1.21mi
5329 SE 137th Ave Portland, OR	3.0	2.5	1559	$2,250	$1.44	25d	1	1.25mi
13448 SE Division St Portland, OR	4.0	2.0	1450	$2,550	$1.76	4d	1	1.26mi
13450 SE Division St Portland, OR	4.0	2.0	1450	$2,550	$1.76	45d	1	1.26mi
13066 SE Powell Blvd Unit 10 Portland, OR	2.0	2.0	1100	$1,550	$1.41	25d	1	1.30mi
13062 SE Powell Blvd Apt 6 Portland, OR	2.0	2.0	1100	$1,550	$1.41	45d	1	1.31mi
2471 SE 135th Ave Unit 2471 Portland, OR	3.0	1.5	1100	$1,495	$1.36	25d	1	1.34mi
13726 SE Reedway St Portland, OR	3.0	2.5	1817	$2,295	$1.26	45d	1	1.36mi
1029 SE 149th Pl Unit 1029 Portland, OR	2.0	1.0	1100	$1,850	$1.68	45d	1	1.47mi
17930 SE Harrison St Portland, OR	3.0	2.0	1666	$2,595	$1.56	9d	1	1.48mi
6439 SE 143rd Ct #1 Portland, OR	3.0	2.5	1545	$2,395	$1.55	45d	1	1.49mi
3745-3749 SE 127th Pl Unit 3749 Portland, OR	3.0	2.5	1467	$2,195	$1.50	9d	1	1.50mi

Listing history 15 events

1. 2026-06-21
   days on market $119,000 Active 72 DOM
2. 2026-06-18
   days on market $119,000 Active 69 DOM
3. 2026-06-17
   days on market $119,000 Active 68 DOM
4. 2026-06-16
   days on market $119,000 Active 67 DOM
5. 2026-06-15
   days on market $119,000 Active 66 DOM
6. 2026-06-13
   days on market $119,000 Active 64 DOM
7. 2026-06-13
   days on market $119,000 Active 63 DOM
8. 2026-06-09
   days on market $119,000 Active 60 DOM
9. 2026-06-07
   pricedays on market $119,000 Active 58 DOM
10. 2026-06-05
    days on market $129,000 Active 55 DOM
11. 2026-06-03
    days on market $129,000 Active 54 DOM
12. 2026-06-02
    days on market $129,000 Active 53 DOM
13. 2026-06-01
    days on market $129,000 Active 52 DOM
14. 2026-05-31
    days on market $129,000 Active 51 DOM
15. 2026-04-10
    listed $129,000 Active 1414-char remark

    Show marketing remark (1414 chars)

    Spacious & Light-Filled Home Near Powell Butte – Room for Everyone! Welcome home to this sprawling, thoughtfully designed residence offering space, comfort, and flexibility for today’s lifestyle. With 3 bedrooms plus a den, this home provides room for everyone to spread out and enjoy their own space. The expansive living room and formal dining area are perfect for entertaining, while the charming breakfast nook just off the kitchen creates a cozy spot for everyday meals. Multiple skylights throughout the home flood the interior with natural light, creating a warm and inviting atmosphere. The oversized primary suite is your private retreat, featuring a spa-like bathroom with double sinks and a walk-in shower. The versatile den is ideal as a media room, home office, or creative space—tailored to fit your needs. You’ll love the thoughtful storage options, including a coat closet, linen closet, and a spacious utility room with plenty of extra storage. Step outside to enjoy the easy-care yard and fully fenced patio area—perfect for relaxing or entertaining. An oversized shed adds even more functionality and storage. Located just steps from Powell Butte Nature Park, this home offers the perfect balance of nature and convenience, with quick access to freeways, shopping, dining, and more. Spacious, bright, and ideally located—this home truly has it all.

ⓘ 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: $653 · $54/mo
• Projected year-2 tax: $1,154 · $96/mo
• Expected delta: +$502/yr (+$42/mo · 76.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 15 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: $25,326
• − Mortgage interest: −$6,666
• − Property taxes: −$653
• − Insurance: −$595
• − Repairs & maintenance: −$2,026
• − Management: −$2,026
• − Depreciation: −$3,462
• Taxable income: $9,898
• Est. tax owed @ 24.0%: −$2,376
• After-tax cash flow: $8,895/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: Centennial SD 28J
• NCES district ID: 4102800
• Math proficiency: 31% ▼ -2.00%
• Reading proficiency: 43% ▼ -2.00%
• Median HH income: $49,619
• Composite: 34.5/100
• National rank: #10133
• State rank: #125 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

1 event — show timeline

• 2026-04-10 Listed $129,000 RMLS

Property tax history

-1.7%/yr

Latest (2025): $653 · +10.1% YoY. Source: county tax records.