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6025 SE 124th Ave
Score
0
Portland, OR

6025 SE 124th Ave

420K
3 bd • 2 ba • 1,740 sf

This analysis was generated on 2/19/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

AI Property Analysis

0:00
0:00 / 0:00
List Price

$419,900

Price/Sq.Ft

$241

Year Built

1948

AI Property Analysis

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

The Good

• Development Potential: The RM1 zoning allows for a minimum density of 6 units (townhomes) or nearly 20 units with an apartment at maximum density and a 1:1 FAR. This is a significant opportunity for investors and developers. The property description highlights this potential. • Large Lot: The oversized 0.35-acre lot is a rare find in Portland. This provides ample space for outdoor activities, gardening, and potential ADU construction. The two driveways and RV dump station are additional bonuses. • Single-Level Living: The single-level layout is ideal for those seeking accessibility and convenience, particularly appealing to older buyers or those with mobility issues. • Character and Charm: As the original farmhouse, the property has unique character and historical appeal. The two stone wood-burning fireplaces add warmth and ambiance. • Recent Upgrades: The new high-efficiency gas furnace is a valuable upgrade, providing efficient and cost-effective heating. This is a significant selling point compared to older, less efficient systems. • Working Well: The working well for irrigation is a valuable asset for gardening enthusiasts, reducing water costs and promoting sustainable practices.

The Bad

• Lengthy Market Time: The property has been on the market for 218 days, significantly longer than the average for Portland. This suggests potential issues with pricing, condition, or marketing. • School Ratings: David Douglas High School, serving the area, has a low rating of 3/10. This could deter families with children and impact resale value. Gilbert Park Elementary (5/10) and Alice Ott Middle School (6/10) have slightly better ratings but are still average. • Air Quality: The Extreme Air Quality Risk (10/10) and 23 bad air days per year are significant drawbacks. Portland's air quality can be severely affected by wildfires, impacting livability and potentially health. • Older Home: Built in 1948, the property will likely require ongoing maintenance and potential upgrades. Buyers should factor in costs for repairs, renovations, and potential system replacements (plumbing, electrical).

The Ugly

• Potential Renovation Costs: While the property has character, it likely requires significant renovations to modernize the kitchen, bathrooms, and overall interior. This could involve substantial costs. • High Property Taxes: Oregon has relatively high property taxes, which will add to the overall cost of ownership. Buyers should factor this into their budget. • Earthquake Risk: Portland sits on the Cascadia Subduction Zone, meaning a significant earthquake is a possibility. Consider earthquake insurance and factor seismic upgrades into your budget for older homes. The age of the home (built in 1948) increases the risk of structural damage. • Radon: Parts of Portland have higher than average radon levels. Testing for radon during the inspection period is crucial, and mitigation can add to the overall cost.

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

• Investors Seeking Development Opportunities: The RM1 zoning allows for significant density (up to 20 units with apartments), making it attractive for developers. The 1:1 FAR (Floor Area Ratio) provides substantial building potential on the .35-acre lot. • Buyers Prioritizing a Large Lot and Outdoor Space: The oversized .35-acre lot, with two driveways and RV dump station, is ideal for those needing space for multiple vehicles, boats, or RVs. The working well for irrigation supports gardening enthusiasts. • Buyers Interested in Single-Level Living with Character: The original farmhouse charm, combined with single-level living, appeals to those seeking a unique, accessible home. The two wood-burning fireplaces add ambiance and warmth. • Buyers Comfortable with a Combination of Original Features and Modern Upgrades: A new high-efficiency gas furnace provides efficient heating, while the original stone fireplaces offer a cozy aesthetic. This blend suits buyers who appreciate vintage character with modern functionality.

Not For

• Buyers Seeking a Fully Updated, Modern Home: While the property has a new furnace, it retains many original features from 1948. Buyers wanting a turn-key, contemporary home may find the property requires too much updating. • Buyers with Concerns About Air Quality: With an Extreme Air Quality Risk (10/10) and 23 bad air days per year, those with respiratory sensitivities may find the location unsuitable without significant investment in air filtration systems. • Buyers Prioritizing Top-Rated Schools: David Douglas High School has a rating of 3/10, which may deter buyers who place a high emphasis on school quality. Gilbert Park Elementary (5/10) and Alice Ott Middle School (6/10) have slightly better ratings, but may still not meet the needs of some buyers. • Buyers Unwilling to Manage an Older Home: Built in 1948, the property will likely require ongoing maintenance and potential repairs. Buyers seeking a low-maintenance property may find this home unsuitable.
Demographics
Area Median Income

$58,093

Property History

Price History
Ownership Timeline
$125,000Financed
Mar 18, 2005
Richard L Rodlun, Alice J RodlunJason Delfel, Marie Delfel
Special Warranty Deed
Standard Sale (Purchase/Resales)
$125,000Cash Purchase
Jul 1, 2003
Richard Rodlun, Alice RodlunJason Delfel, Ann Delfel
Land Contract
Standard Sale (Purchase/Resales)

Property Taxes

$4,354
2024 Tax Assessment
4.5%from previous year
Assessed Value$182,510
Tax Rate2.39%

Sunlight Analysis

Visualize how sunlight affects this property throughout the day and year.

Sunlight Analysis

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Risk Assessment

Climate Risks

airSEVERE

23 bad air quality days per year

heatMINIMAL

7 extreme heat days per year

98th percentile: 91°F

fireMINIMAL

Insurance: Recommended

floodMINIMAL

FEMA Zone: Minimal Risk Area

Insurance: Optional

windMINIMAL

Insurance: Optional

Risk Analysis

• Extended Market Time: 218 days on the market suggests potential pricing issues or other factors deterring buyers. Review comparable sales and consider further price adjustments. • Air Quality: Extreme Air Quality Risk (10/10) with 23 bad air days per year. This could require investment in air filtration systems and may deter buyers concerned about respiratory health. • High School Rating: David Douglas High School has a rating of 3/10, which could negatively impact property value and deter families with school-aged children. • Development Costs: While the RM1 zoning allows for high density, development costs can be substantial. Conduct a thorough feasibility study to assess the financial viability of any development plans. • Older Home Risks: Built in 1948, the property may have hidden issues such as outdated wiring, plumbing, or structural problems. A comprehensive inspection is crucial.
Insurance
Annual Cost

$1,512

$126 per month

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Schools

Gilbert Park Elementary School

Public•Grades K-5
5/5
Elementary
0.4 mi
Get more information on GreatSchools

Alice Ott Middle School

Public•Grades 6-8
6/5
Middle
0.1 mi
Get more information on GreatSchools

David Douglas High School

Public•Grades 9-12
3/5
High
2.6 mi
Get more information on GreatSchools

Financials

Monthly Costs
Market Rent (3 bed)

$2,574

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Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Subject Property

Price
$419,900
Price/sqft
$241
Layout
3 bd•2 ba
Days on market
217 daysat time of analysis

Stats in the Area

Based on 6 comparable properties nearby

Average Price

$357,317

17.5%

Your price is 17.5% above average

Median Price

$415,000

1.2%

Based on 6 recent sales

Price per Sq.Ft

$215

12.2%

Your price is 12.2% above average $/sqft

Comparable Properties

13115 SE FOSTER RD #12, Portland, OR 97236
Price: $98,000
Sq.Ft: 1,848
Beds/Baths: 3/2
$/Sq.Ft:
$5378.0%
Sale Date: 10/24/2024
12339 SE HAROLD ST, Portland, OR 97236
Price: $408,000
Sq.Ft: 1,956
Beds/Baths: 3/2
$/Sq.Ft:
$20913.6%
Sale Date: 11/8/2024
11919 SE FOSTER PL, Portland, OR 97266
Price: $465,000
Sq.Ft: 1,635
Beds/Baths: 4/2
$/Sq.Ft:
$28417.9%
Sale Date: 9/26/2024
12334 SE Long ST, Portland, OR 97236
Price: $334,900
Sq.Ft: 1,564
Beds/Baths: 2/2
$/Sq.Ft:
$21411.3%
Sale Date: 9/5/2024
6438 SE 129TH PL, Portland, OR 97236
Price: $423,000
Sq.Ft: 1,597
Beds/Baths: 4/3
$/Sq.Ft:
$2659.8%
Sale Date: 12/31/2024
4038 SE 125TH PL, Portland, OR 97236
Price: $415,000
Sq.Ft: 1,584
Beds/Baths: 4/3
$/Sq.Ft:
$2628.6%
Sale Date: 11/28/2024

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