Portland Homes For Less Than 100k
Less than three per cent of all homes in Portland sell for 100k or less. Typically these truly entry-level homes for sale in Portland are located in Portland’s southeast sub-markets along I-205. Recent additions to the sub-100k category, however, have created a number of interesting opportunities in NE Portland neighborhoods as well.
Overall the number of homes that sell in this price range has more than doubled since the same time last year. Currently there are about 35 single-family homes for sale in Portland that are listed at or below 100k, starting at $65,000. The majority of these homes are 2+ bedrooms, fully a third are larger than 1,000 SQFT.
Here’s a sampling of some of N/NE Portland’s least expensive homes for sale:
- Two-bed, corporate-owned home near Delta Park listed at $69,000. No repairs or updates needed. Rent it out at $600/month, and you’ve got yourself a pretty decent cash-flow situation (assuming 20% down, 6% interest, 30-year fixed).
- Looking for a three-bedroom home for less than 100k that’s not a tear-down? There’s one up for grabs near University City Park. This 1,000 SQFT, bank-owned home needs some remodeling, but is pretty close to the finish line.
- Two-bed/two-bath townhouse near Glendover Golf Course available for less than $75/SQFT.
And here’s the shortlist for Southeast Portland:
- A 2-bed/2-bath HUD-home near Glenwood Park is currently listed in the 70s, but will soon be accepting bids. The entry-level for this neighborhood has historically been in the 80s.
- Bank-owned fixer in David Douglas School District. This is a 3-bed home with almost 1,500 SQFT above ground.
- Fannie Mae HomePath property near Powell Butte. This 3-bed home sits on a quarter acre lot.
Drop me a note to find out more.
