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23508 NW Saint Helens Rd
Portland, OR

23508 NW Saint Helens Rd

$119,900
1 bd • 1 ba • 605 sf

This analysis was generated by artificial intelligence on 2/11/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

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AI Property Analysis

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List Price

$119,900

Price/Sq.Ft

$198

Year Built

1940

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

• Waterfront Location: The property boasts a desirable waterfront location with an "awesome balcony that looks out over the river." Waterfront properties typically command a premium due to their scenic views and recreational opportunities. Similar waterfront properties or floating homes in the Portland area can fetch prices 10-20% higher than comparable inland properties. • Modern Amenities: The inclusion of quartz counters, a built-in refrigerator, and a washer/dryer adds value and convenience. These features are attractive to buyers seeking modern comforts in a smaller living space. Upgrading to quartz countertops can increase property value by an estimated 1-3%. • Ductless Mini-Split System: The presence of a ductless mini-split system offers efficient heating and cooling. These systems are energy-efficient and can save on utility costs compared to traditional HVAC systems. Energy-efficient upgrades are increasingly valued by buyers in Portland, reflecting environmental awareness. • Relatively Low Estimated Insurance: The estimated annual insurance of $431.64 is relatively low. Standard homeowner's insurance in Portland averages around $1,000-$1,500 per year. This lower cost could be due to the property's size or specific construction type. • Days on Market: The property has been on the market for 12 days, which is a relatively short period, indicating a reasonable level of interest.

The Bad

• Small Living Space: At 605 sqft, the property is significantly smaller than the average Portland home. This limited square footage may not be suitable for buyers needing more space. The average apartment size in Portland is around 800-900 sqft, making this property smaller than most apartments. • Owner-Occupancy Restriction: The property can only be owner-occupied, eliminating its potential as a rental investment. Portland's rental market is strong, with average rents around $1,600-$2,500 depending on location and size. This restriction foregoes potential rental income. • Unknown S16 Designation: The statement "House is S16" lacks clarity. Without knowing what S16 signifies, potential buyers face uncertainty regarding zoning, restrictions, or fees. • Distance to Amenities: While the property offers a waterfront oasis, it might be located further from urban amenities. The distance to Lincoln High School (14.8 miles) suggests a potentially longer commute for families with older children. • Unclear HOA or Moorage Fees: The listing doesn't mention HOA fees or moorage fees (if applicable, given the waterfront location). These fees can add significantly to monthly expenses and should be investigated.

The Ugly

• Cash Only Purchase: The "Cash Only" requirement significantly limits the pool of potential buyers. Most homebuyers rely on mortgage financing, making this property less accessible. This could indicate underlying issues with the property that prevent traditional financing. • Owner-Occupied Only: This restriction severely limits the use of the property. It cannot be rented out for income. • Unknown Approval Process: The need to be approved by Blue Flag Realty with Alison Kangas adds a layer of uncertainty. The criteria for approval are unknown, and there's a risk of being denied. • Floating Home/Houseboat Considerations: Assuming this is a floating home or houseboat, these properties often face unique challenges. Moorage fees can be substantial, and maintenance costs can be higher than for traditional homes. Floating homes also depreciate faster than land-based homes. • Potential Zoning/Legality Issues: The "House is S16" statement raises concerns about the property's zoning compliance and legality. It's crucial to verify that the structure is legally permitted and meets all applicable regulations.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

• Buyers Seeking a Unique Waterfront Living Experience: The property's location on the river, combined with the balcony and boat well, provides a distinct opportunity for those who appreciate waterfront living. The limited square footage and owner-occupancy restriction suggest an ideal fit for individuals who prioritize the experience of living on the water. • Cash Buyers Comfortable with Limited Financing Options: Given the "Cash Only" requirement, the property is best suited for buyers with readily available funds and who may not be able to secure traditional mortgage financing. The property caters to those with the financial flexibility to make an outright purchase. • Individuals Approved by Blue Flag Realty: Prospective buyers must gain approval from Blue Flag Realty and Alison Kangas. The property is tailored to those who meet the criteria set by this specific agency. • Buyers Prioritizing Modern Amenities in a Compact Space: The inclusion of quartz counters, a built-in refrigerator, and a washer/dryer within a 605 sqft space appeals to buyers seeking modern conveniences in a smaller living environment.

Not For

• Buyers Requiring Traditional Financing: The "Cash Only" requirement immediately excludes those who need to secure a mortgage. • Investors Seeking Rental Income: The owner-occupancy restriction prevents using the property as a rental, making it unsuitable for investors seeking passive income. • Buyers Needing Ample Living Space: At 605 sqft, the property is significantly smaller than the average Portland home (approximately 1,500 sqft). This limited space may not accommodate those who need multiple bedrooms, large living areas, or storage. • Families with School-Aged Children Prioritizing Local Schools: While Skyline Elementary has a high rating (9/10), it's 6 miles away. Lincoln High School, while further (14.8 miles), has a lower rating (7/10). Families prioritizing conveniently located, highly-rated schools may find this property less suitable. • Buyers Unwilling to Seek Approval from Blue Flag Realty: The mandatory approval process by Blue Flag Realty adds an extra layer of complexity. Those who prefer a straightforward purchase may find this requirement undesirable.
Demographics
Area Median Income

$0

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Risk Assessment

Risk Analysis

• Financing Limitations: The "Cash Only" requirement limits the buyer pool and potentially impacts resale value. Properties with limited financing options typically appreciate slower than those accessible to a wider range of buyers. • Owner-Occupancy Restriction: This severely restricts the investment potential. The property cannot be rented out, limiting income opportunities and potential appreciation driven by rental demand. • S16 Designation: The meaning of "House is S16" is unclear and poses a risk. It could indicate zoning restrictions, environmental concerns, or association fees. Thorough due diligence is crucial to understand the implications. • Waterfront Location Risks: Waterfront properties are susceptible to flooding, erosion, and water damage. Obtain a flood risk assessment and factor in potential maintenance costs associated with waterfront living. • Limited Market Comparables: Due to the unique nature of the property (likely a floating home or houseboat), finding comparable sales data may be challenging. This makes accurate valuation difficult and increases the risk of overpaying. • Approval by Blue Flag Realty: Failure to get approved will invalidate any offer. This adds uncertainty to the purchase process.
Insurance
Annual Cost

$432

$36 per month

Financials

Monthly Costs
Market Rent (1 bed)

$0

Get a detailed rental estimate on Zillow®
HOA Fee

$725

Price History

Location & Comparables

Subject Property
Comparable Sales
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Frequently Asked Questions

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