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5624 NE 12th Ave
Portland, OR

5624 NE 12th Ave

$451,600
3 bd • 1 ba • 1,188 sf

This analysis was generated by artificial intelligence on 1/27/2025. 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

$451,600

Price/Sq.Ft

$380

Year Built

AI Property Analysis

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

The Good

• Relatively moderate price per square foot: At $380.13 per sqft, the property is priced competitively compared to other areas of Portland, potentially making it an accessible option for first-time homebuyers or budget-conscious buyers. • 3 bedrooms: The property has three bedrooms, which meets the needs of many families or individuals needing extra space for guests or home offices. • Potential for customization: The lack of specific features and the dated kitchen (based on the image) offer a blank canvas for buyers who wish to renovate and customize the home to their liking. • Location: The property is located in Portland, which offers access to a vibrant city with various amenities, public transportation, arts, culture, and recreational opportunities. • Homeownership potential: For buyers currently renting a 3-bedroom unit at $3180 per month, this property could offer a more affordable option in terms of monthly payments once taxes and insurance are considered.

The Bad

• Lack of detailed property information: The absence of a property description, room details, and utility information makes it difficult to assess the property's true condition and value, requiring more due diligence from potential buyers. • Unknown year built: The missing build year makes it challenging to assess the property's condition and potential maintenance needs. Older homes may require more repairs and upgrades. • No listed property features: The lack of listed features makes it harder to evaluate the property's amenities compared to similar homes in the area. • Dated kitchen: Based on the provided image, the kitchen appears outdated. This could be a drawback for buyers seeking modern homes and may require immediate renovation. • Limited square footage: At 1,188 sqft, the house is smaller than average, which may not be suitable for larger families or those needing more space.

The Ugly

• Potential for hidden issues: The lack of property details and the unknown build year raise concerns about the potential for hidden issues such as structural problems, outdated systems, or environmental hazards like lead paint or radon. • Need for immediate renovations: The outdated kitchen (based on the image) may require immediate renovations, adding to the overall cost of ownership and potentially making it less appealing to buyers seeking a move-in ready home. • High property taxes and insurance: Portland has high property taxes and homeowners insurance premiums, which can significantly increase the monthly cost of ownership and make the property less affordable for some buyers. • Seismic risk: Portland's location in the Cascadia Subduction Zone means the property is at risk of earthquakes, requiring additional insurance coverage and potential seismic upgrades. • Air quality concerns: Wildfires in recent years have significantly impacted air quality in Portland, particularly during summer and fall, which may be a concern for buyers with respiratory sensitivities.

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

• First-time homebuyers looking for an entry-level property in a competitive market. The price per square foot ($380.13) is relatively moderate compared to some areas of Portland, making it accessible for buyers on a budget. • DIY enthusiasts or investors willing to update and modernize the kitchen and other areas. The property’s lack of detailed features and outdated kitchen (based on the image) provide a blank canvas for improvements and value appreciation. • Renters looking to transition to homeownership with a monthly housing payment similar to or lower than current rental costs. With potential monthly mortgage costs (including taxes and insurance) possibly below the $3180 monthly rent for a 3-bedroom, the property could be more affordable than renting. • Buyers who prioritize location over modern amenities. Given the lack of information about the property’s specific features, its location in Portland is likely a key selling point, especially for those seeking access to city amenities, public transportation, and cultural attractions. • Buyers who are comfortable with older homes and willing to address potential issues like lead paint or radon. The lack of a listed build year suggests the property may be older, requiring a more proactive approach to potential home maintenance and environmental hazards.

Not For

• Buyers who require modern, updated homes with specific amenities and high-end finishes. The lack of features and a dated kitchen (based on the image) indicate that this property may need significant updates. • Buyers with a limited budget who are not prepared to invest additional funds into renovations or upgrades. The likely need for repairs and updates may increase the total cost of ownership beyond the listed price. • Buyers who are risk-averse and not comfortable with the uncertainties of older homes. The lack of a build year and specific property information suggests there may be hidden issues requiring further investigation. • Buyers who prioritize spacious living areas. At 1,188 square feet, the house is not particularly large, and may not be suitable for larger families or those seeking ample living space. • Buyers who prefer turnkey properties with minimal maintenance requirements. The property's condition and lack of information suggest that it may require immediate attention and regular maintenance.
Demographics
Area Median Income

$93,743

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Risk Assessment

Risk Analysis

• Unknown property age: The lack of a build year introduces uncertainty about the property's condition, potential need for repairs, and possible presence of lead paint or asbestos. • Limited property information: The lack of a property description, room details, and utility information makes it difficult to assess the property's true value and potential issues. A thorough inspection is crucial. • Outdated Kitchen: Based on the image, the kitchen appears dated and may require significant renovations, adding to the overall cost of ownership. • Seismic risk: Portland is located in the Cascadia Subduction Zone, making the property vulnerable to earthquakes. Earthquake insurance premiums can be higher, and seismic upgrades may be necessary. • Air quality: Wildfires in recent years have significantly impacted air quality in Portland. If you have respiratory sensitivities, this is an important consideration. • Radon: Parts of Portland have elevated radon levels. Testing for radon is advisable before purchasing the home. • High property taxes and homeowners insurance: Oregon has relatively high property taxes and insurance premiums, particularly in areas prone to earthquakes and wildfires. These costs must be factored into the monthly budget. • Regulatory risks: Portland has unique building codes and regulations, which may impact future renovations or additions to the property.

Financials

Monthly Costs

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$482,580

6.9% above list price

Median Price

$499,900

Based on 5 recent sales

Price per Sq.Ft

$393

Comparable Properties

6405 NE 6TH AVE, Portland, OR 97211
Price: $523,000
Sq.Ft: 1,231
Beds/Baths: 3/2
$/Sq.Ft:
$42511.8%
Sale Date: 12/12/2024
1056 NE MADRONA ST, Portland, OR 97211
Price: $540,000
Sq.Ft: 1,257
Beds/Baths: 3/2
$/Sq.Ft:
$43013.0%
Sale Date: 9/20/2024
6332 NE 10TH AVE, Portland, OR 97211
Price: $365,000
Sq.Ft: 1,368
Beds/Baths: 4/2
$/Sq.Ft:
$26729.8%
Sale Date: 10/9/2024
4525 N KERBY AVE, Portland, OR 97217
Price: $499,900
Sq.Ft: 1,330
Beds/Baths: 3/2
$/Sq.Ft:
$3761.1%
Sale Date: 9/26/2024
7511 NE Rodney AVE, Portland, OR 97211
Price: $485,000
Sq.Ft: 1,036
Beds/Baths: 3/2
$/Sq.Ft:
$46823.2%
Sale Date: 8/9/2024

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