Rent to Own

177 SE 119TH AVE. PORTLAND, OR 97216

SUBJECT TO / SELLER FINANCE 

 Property Details:

• Beds/Baths: 3 Beds / 1 Bath

• Living Space: 1,339 SQFT

• Lot Size: 3,425 SQFT

• Air Conditioning: Central Air

• Heating: Forced Air Unit

• Carport: Covered Carport

• Yard: Fenced Front and Back Yard

• Floors: Hardwood Floors

• Appliances: Washer and Dryer Included

• Outdoor Features:

  • Garden Area with Garden Fence

  • Spacious Backyard with Deck

  • Room for Pool, Trampoline, or Firepit Area

  Condition: Good

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Financial Terms:

• Mortgage Balance (Subject-To): $321,817

• Mortgage Interest Rate: 2.375%

• Mortgage Monthly Payment: $1,909.12

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 Financing Structure:

• Down Payment: $60,000

• Seller Finance Balance: $55,000

• Seller Carry Monthly Payment: $500.00

  • Payment Start Date:

    • No payments due for the first four (4) months after Close of Escrow.

    • Monthly payments of $500 begin on the fifth (5th) month after Close of Escrow.

• Interest Rate to Seller: 0%

• Balloon Payment to Seller: $27,000 due in 5 years (Refinance Optional)

Total Obligation Monthly (Starting in October 2025) = $2,500 (mortgage + seller finance payment).

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Closing Date:

• Close of Escrow: On or before May 30th, 2025

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Tenant Details:

• Current Rent: $2,500/month

• Lease Expiration: October 1st, 2025

• Tenant Deposit Responsibility:

  • Seller will pay the tenant their $2,500 security deposit at lease end (confirmed in Purchase and Sale Agreement).

• Cash Flow During First 4 Months:

  • Buyer collects $2,500/month rent.

  • Pays $1,900/month mortgage via servicing company.

  • Keeps ~$600/month positive cash flow during tenant lease term.

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Monthly Payment Obligations (After October 2025):

• Mortgage Payment: $1,909.12/month

• Seller Finance Payment: $500.00/month

• Total Monthly Obligation: $2,409.12/month

• Market Rental Value in the Area Ranging: ($2,500 - $3,100 / Month)

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Summary:
This property offers a low 2.3% interest mortgage, initial positive cash flow of approximately $600/month during the tenant lease term, no seller finance payments for the first four (4) months after closing, and a 5-year balloon on a zero-interest seller note.
Starting October 2025, Buyer will assume a combined monthly obligation of approximately $2,409.12 for mortgage and seller finance payments.

Key Benefits of This Deal:

• ✅ No W-2 income verification required

• ✅ No tax returns required

• ✅ No traditional bank loan qualification necessary

• ✅ Significantly lower down payment compared to conventional financing

• ✅ Immediate rental income with positive cash flow

• ✅ Opportunity to build equity and refinance or sell within 5 years for profit.