NOT LISTED FOR SALE

4038 SE Powell Valley Rd Unit 4048 Gresham, OR 97080

Kelly Creek Neighborhood

Estimated Value: $595,913 - $638,000

6 Beds
6 Baths
2,460 Sq Ft
$252/Sq Ft Est. Value

Last Sold December 27, 2024

Last sale price $622,900 $253 Per Sq Ft

Est. 1% decrease in value since last sale

Current estimated payment $3,993/month

44 Days on Market

Highlights

  • No HOA
  • Property is near a bus stop
  • No Heating
  • Landscaped with Trees
  • Level Lot

About This Home

As of December 2024

A SOLID Investment property! Cap rate of 5.57% with a very low vacancy rate of 1%. This desirable property is a townhome style duplex with a great functional floorplan. A smart addition to your investment portfolio. The seller is the original owner. It has been well cared for inside and out. Each unit has 3 good size bedrooms, 2.5 baths, wall to wall carpet, newer roof 10/2018, newer LVP floors (4038)-2022 & vinyl floors in 2018 (4048) for easy care and maintenance. The open floor plan is ideal. Kitchens include a double sink, breakfast bar and all appliances for both units. The slider just of the dining area, gives easy access to a private patio & fenced backyard perfect. Six New LED front security lights provide ample light at night. The vinyl siding makes your maintenance and upkeep a breeze. On a bus line and less than a mile for shopping, dining & parks makes this a perfect location. Easy access to I84. Photos of unit 4048 were taken prior to the tenant move in and 4038 were taken in June of 2024.

Last Agent to Sell the Property

Tami Liesy

Keller Williams PDX Central License #200108097 Listed on: 10/25/2024

Keller Williams PDX Central

Last Buyer's Agent

Brent Ryder

The Broker Network, LLC License #200903013

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,047

Year Built

  • Built in 2001 | Remodeled

Lot Details

  • 7,405 Sq Ft Lot
  • Level Lot
  • Landscaped with Trees

Parking

  • 2 Car Garage
  • Driveway
  • Off-Street Parking

Home Design

  • Composition Roof
  • Vinyl Siding
  • Concrete Perimeter Foundation

Interior Spaces

  • 2,460 Sq Ft Home
  • 2-Story Property
  • Crawl Space
  • Security Lights

Location

  • Property is near a bus stop

Schools

  • Kelly Creek Elementary School
  • Gordon Russell Middle School
  • Sam Barlow High School

Utilities

  • No Cooling
  • No Heating
  • Electric Water Heater

Listing and Financial Details

  • Assessor Parcel Number R239833

Community Details

Overview

  • No Home Owners Association
  • 2 Units
  • Kelly Creek Subdivision

Building Details

  • Operating Expense $14,277
  • Gross Income $49,236
  • Net Operating Income $34,958

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,047

Year Built

Built in 2001 | Remodeled

Lot Details

0

Parking

2

Listing Details

  • Standard Status: Closed
  • MLS Status: Sold
  • Property Type: MultiFamily
  • Stories: 2
  • Year Built: 2001
  • Property Condition: UpdatedRemodeled
  • Property Attached Yn: No
  • Open House: No
  • Special Features: VirtualTour
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: CrawlSpace
  • Storage: Attached,Garage
  • Lot Size Range: SqFt7000to9999

Exterior Features

  • Exterior Description: VinylSiding
  • Lot Size: 7,000 to 9,999 SqFt
  • Foundation Details: ConcretePerimeter
  • View: No
  • Lot Features: Level, OnBusline, Trees
  • Road Surface Type: Paved
  • Roof: Composition

Garage/Parking

  • Parking Description: Driveway, OffStreet
  • Attached Garage: No
  • Garage Spaces: 2.0
  • Total Parking Spaces: 2.0

Utilities

  • Fuel Description: Electricity
  • Hot Water: Electricity
  • Security: SecurityLights
  • Cooling Y N: No
  • Heating: WallHeater
  • Heating Yn: No
  • Sewer: PublicSewer
  • Water Source: PublicWater

Condo/Co-op/Association

  • Association: No

Schools

  • Elementary School: Kelly Creek
  • High School: Sam Barlow
  • Middle Or Junior School: Gordon Russell

Lot Info

  • Zoning: LDR-7
  • Lot Size Acres: 0.17
  • Lot Size Sq Ft: 7405.0
  • Parcel #: R239833

Green Features

  • Green Certification: No

Rental Info

  • Rent Includes: None

Tax Info

  • Tax Deferral: No
  • Tax Year: 2024
  • Tax Annual Amount: 7047.0

Multi Family

  • Unit Type: UnitTypeType1, UnitTypeType2
  • Number Of Units Total: 2
  • Gross Rent Multiplier: 12.75
  • Annual Gross Income: 49236.0
  • Property Net Operating Income: 34958.0
  • Annual Operating Expense: 14277.0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 25, 2024
Closed on
Dec 24, 2024
Sold by
Vanriper David L
Bought by
Hernandez-Salazar Jocelyne and Hernandez Bernardo Mendoza
Seller's Agent
Tami Liesy
Keller Williams PDX Central
Buyer's Agent
Brent Ryder
The Broker Network, LLC
List Price
$644,900
Sold Price
$622,900
Premium/Discount to List
-$22,000
-3.41%
Total Days on Market
44
Views
17
Current Estimated Value
$618,978

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$3,922
Avg. Annual Appreciation
-1.33%
Original Mortgage
$498,320
Outstanding Balance
$497,033
Interest Rate
6.78%
Mortgage Type
New Conventional
Estimated Equity
$121,945

Purchase Details

Closed on
Oct 20, 2000
Sold by
Somerset Development Llc
Bought by
Vanriper David

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$196,900
Interest Rate
7.96%

Purchase Details

Closed on
Jul 7, 2000
Sold by
Integrity Home Inspections Inc
Bought by
Somerset Development Llc
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Hernandez-Salazar Jocelyne $622,900 Chicago Title
Vanriper David $246,150 First American Title Co
Somerset Development Llc $35,000 First American Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Hernandez-Salazar Jocelyne $498,320
Previous Owner Vanriper David $164,100
Previous Owner Vanriper David $196,900
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/27/2024 12/27/24 Sold $622,900 -3.4% $253 / Sq Ft
12/08/2024 12/08/24 Pending -- -- --
10/25/2024 10/25/24 For Sale $644,900 -- $262 / Sq Ft
Source: Regional Multiple Listing Service (RMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2023 $6,421 $341,020 $0 $0
2022 $6,241 $331,090 $0 $0
2021 $6,084 $321,450 $0 $0
2020 $5,724 $312,090 $0 $0
2019 $5,574 $303,000 $0 $0
2018 $5,315 $294,180 $0 $0
2017 $5,100 $285,620 $0 $0
2016 $4,496 $277,310 $0 $0
2015 $4,399 $269,240 $0 $0
2014 $4,213 $261,400 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Tami Liesy

    Seller's Agent in 2024

    Tami Liesy

    Keller Williams PDX Central

    (503) 388-1881

    3 in this area

    34 Total Sales

    Tami Liesy
    Section Image

  • B

    Buyer's Agent in 2024

    Brent Ryder

    The Broker Network, LLC

    (503) 465-5077

    4 in this area

    23 Total Sales

    Brent Ryder
    Section Image
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Map

Source: Regional Multiple Listing Service (RMLS)

MLS Number: 24463018

Regional Multiple Listing Service (RMLS)

APN: R239833

Oregon Multnomah County Gresham 97080 Kelly Creek

4038 SE Powell Valley Rd Unit 4048, Gresham, OR

This home is located at 4038 SE Powell Valley Rd Unit 4048, Gresham, OR 97080 since 25 October 2024 and is currently estimated at $618,978, approximately $251 per square foot. This property was built in 2001. 4038 SE Powell Valley Rd Unit 4048 is a home located in Multnomah County with nearby schools including Kelly Creek Elementary School, Gordon Russell Middle School, and Sam Barlow High School.

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