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1217 SW Spring Garden St
Portland, OR

1217 SW Spring Garden St

$650,000
3 bd • 3 ba • 2,224 sf

This analysis was generated by artificial intelligence on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

List Price

$650,000

Price/Sq.Ft

$292

Year Built

1923

AI Property Analysis

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

The Good

This charming 1923 craftsman home offers excellent value at $292.27/sqft, which is approximately 15% below the Portland average of $344/sqft for similar homes. The 2,224 sqft layout is spacious, providing 10% more living area than the typical 3-bedroom home in the area. Recent updates, including a new heating & cooling system, roof & gutters, and water heater, represent about $25,000 in value and reduce near-term maintenance concerns. The property's location is prime, with highly-rated schools nearby (Capitol Hill Elementary at 9/10, just 0.2 miles away) and easy access to parks, shops, and restaurants. The flood risk score of 1/10 is significantly better than Portland's average of 4/10, potentially leading to lower insurance costs. The fir floors throughout the main level and the beautifully restored front porch add to the home's character and market appeal.

The Bad

While the home has been well-maintained, its age (built in 1923) suggests potential hidden issues common in older homes, such as outdated electrical systems or plumbing. The current list price of $650,000 represents a 49.4% increase from its last sale in 2019, which is significantly higher than Portland's average appreciation rate of 30% over the same period, potentially indicating overpricing. The property's air quality risk score of 10/10 is concerning, with 19 bad air days per year, which is higher than Portland's average and may impact outdoor enjoyment and health. The moderate fire risk (3/10) is slightly higher than ideal for the area and may result in increased insurance premiums.

The Ugly

The extreme air quality risk (10/10) is a significant concern, potentially leading to health issues and decreased property enjoyment, especially during summer months when wildfires are common. This could also negatively impact future resale value. The property's price history shows volatility, with multiple price changes and listing removals since 2017, suggesting potential difficulties in accurately valuing the home. The estimated insurance cost of $2,340/year is about 15% higher than average for similar properties in Portland, likely due to the combination of fire risk and the home's age. Total monthly ownership costs are high at approximately $4,200 ($3,300 mortgage + $195 property tax + $195 insurance + $510 estimated maintenance), which may strain affordability for many buyers.

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

This property is best suited for buyers with a household income of $150,000+ (based on a 33% debt-to-income ratio). It's ideal for small families or couples who value character homes and are willing to invest in ongoing maintenance. The home would appeal to those prioritizing good schools, with Capitol Hill Elementary (9/10 rating) just 0.2 miles away. Buyers who appreciate craftsman architecture and are looking for a blend of historic charm with modern updates will find this property attractive. The spacious layout and dedicated office space make it suitable for professionals working from home.

Not For

This property is not suitable for first-time homebuyers or those with limited budgets due to the high monthly costs and potential for additional maintenance expenses. Individuals with respiratory sensitivities should be cautious due to the extreme air quality risk. Investors seeking immediate high returns may find the price point challenging for generating positive cash flow in the current rental market. The property may not suit those looking for a low-maintenance or newer construction home, as the age of the house suggests ongoing care and potential upgrades will be necessary.
Demographics
Area Median Income

$106,242

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Risk Assessment

Climate Risks

airEXTREME

19 bad air quality days per year

fireMODERATE

Insurance: Recommended

heatMINOR

7 extreme heat days per year

98th percentile: 91°F

floodMINIMAL

FEMA Zone: X_UNSHADED

Insurance: Optional

windMINIMAL

Insurance: Optional

Risk Analysis

The extreme air quality risk (10/10) poses significant health and lifestyle concerns, potentially affecting outdoor activities and requiring investment in air purification systems. The moderate fire risk (3/10) may lead to increasing insurance premiums over time. Given the home's age (100 years), there's a high likelihood of needing major system replacements in the near future, including electrical rewiring ($8,000-$15,000), plumbing upgrades ($5,000-$10,000), and potential foundation repairs ($5,000-$20,000). The rapid price appreciation since 2019 (49.4%) outpaces the market average, raising concerns about potential overvaluation and future market corrections. The property's price history suggests difficulty in accurate valuation, which could impact future resale. Seismic risks common to Portland should be considered, potentially requiring costly retrofitting ($3,000-$10,000) to improve earthquake resilience.
Insurance
Annual Cost

$2,340

$195 per month

Financials

Monthly Costs

Price History

Property Taxes

$6,835
2024 Tax Assessment
4.0%from previous year
Assessed Value$255,720
Tax Rate2.67%

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$733,083

12.8% above list price

Median Price

$785,000

Based on 6 recent sales

Price per Sq.Ft

$338

Comparable Properties

6415 S VIRGINIA AVE, Portland, OR 97239
Price: $785,000
Sq.Ft: 2,148
Beds/Baths: 3/3
$/Sq.Ft:
$36525.0%
Sale Date: 11/14/2024
7739 SW 10TH AVE, Portland, OR 97219
Price: $688,500
Sq.Ft: 2,182
Beds/Baths: 3/3
$/Sq.Ft:
$3168.0%
Sale Date: 10/4/2024
2925 SW LURADEL LN, Portland, OR 97219
Price: $800,000
Sq.Ft: 2,367
Beds/Baths: 3/3
$/Sq.Ft:
$33815.6%
Sale Date: 10/17/2024
7545 S CORBETT AVE, Portland, OR 97219
Price: $835,000
Sq.Ft: 2,078
Beds/Baths: 3/3
$/Sq.Ft:
$40237.5%
Sale Date: 9/19/2024
3325 SW PRIMROSE ST, Portland, OR 97219
Price: $615,000
Sq.Ft: 2,462
Beds/Baths: 3/3
$/Sq.Ft:
$25014.5%
Sale Date: 9/11/2024
3130 SW RIDGE DR, Portland, OR 97219
Price: $675,000
Sq.Ft: 1,903
Beds/Baths: 3/3
$/Sq.Ft:
$35521.4%
Sale Date: 9/20/2024

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