👑 2.99% Sub-To Rental in Portland | $300–$400/Mo Cash Flow | Steps to the MAX 👑
Down Payment: $23,000
275 SE 162nd Ave #309, Portland, OR 97233
Public Walkthrough on 10/28 at 2 PM
This is a sub-to rental play: take over a 2.99% loan and the property pays you from day one. The payment is $940.99, and the $361 HOA covers trash, sewer, and exterior maintenance, so your all-in is roughly $1,302 a month. Two-beds in this area rent for $1,600 to $1,700, which leaves a $300 to $400 monthly spread, and another $361 goes to principal on every payment. That’s $660 to $760 a month working for you between cash flow and paydown, on a loan you couldn’t get today. Before you ask about rentals: the complex has a cap of 15 rented units out of 31, and only 4 are rented right now, so there’s plenty of room. The HOA handles the exterior and the roof was just replaced, so your landlord headaches stay inside the unit. Put in new carpet and paint, get a tenant in, and you’ve got a low-maintenance rental near the MAX Blue Line that cash flows and pays itself down every month.
Mortgage information:
Mortgage balance: $136,456
Interest rate: 2.99%
Principal pay down: $361.07
Monthly payment: $940.99
ARV: $170,000
2 beds | 1 bath | 746 sqft
Condo built in 2007
Roof replaced this year
Recently replaced kitchen sink faucet and garbage disposal
Large bathroom with updated fixtures
Spacious bedrooms with large closets
Covered balcony with storage area
Covered carport included in the rental costs
Within walking distance of stores, Dutch Bros, and the MAX Blue Line
Near the beautiful Powell Butte Nature Park
Located in the Crystal Creek condo complex with shared community amenities
Needs:
Carpet replacement
Painting
HOA Fee: $361/month, including trash, sewer, and exterior maintenance
There is a rental cap. The complex has 31 units in total, and only 15 can be rented out. Currently, only 4 units are being rented.
Rental income: $1,600–$1,700/month
Cash flow: $300–$400/month
Link to HOA docs: https://tinyurl.com/162ndhoa
Closing date: 11/16/2026 – Cash and hard money only, 10,000 EM deposit upon mutual acceptance. Buyer to pay closing costs.
Please contact us via DM or call if you have any other questions (503) 404-4532.
Cash or hard money only, price is net to seller, buyer pays all closing costs, property sold in as-is condition, buyer is responsible for their own due diligence and verifying all facts and figures in regards to purchasing the property. Wholesale King does not allow for buyers to reassign or sell to a third party prior to close. Opinion of value and breakdown spreadsheet is given as a courtesy only as seller makes no guarantees or warranties, express or implied, as to the value, condition, remodel cost, and/or any costs or fees associated with selling or investing in this property. Members of selling entity are real estate licensee’s in the State of Oregon and Washington. Real Estate Licensee and/or associated brokerage are not acting in any role as real estate broker or as a brokerage of this transaction. No brokers are receiving compensation as part of this Agreement and are not representing any party.
