ZIP CODE 97229 // PORTLAND-VANCOUVER-HILLSBORO, OR-WA // DATA AS OF 2026-09-30
Portland, OR (97229) Rental Property Cap Rate & Cash Flow Report
Located in Washington County (Portland, OR), Zip Code 97229 ranks #432 of 500 within this selected sample (14th percentile) with a Zillow ZHVI typical home-value index of $723,247 (-2.0% YoY) and a ZORI observed market rent of $2,223/mo (+0.6% YoY). Requires at least 75.1% down payment at 6.5% interest to reach $0/mo break-even cash flow. This model combines different housing populations; it is not an observed average property return. Costs assume state-average tax, 0.5% annual insurance, 13% reserves and no HOA or management. Figures below follow your edits; this headline describes the original benchmark.
Net Monthly Cash Flow
-$2,519/mo
Annual: -$30,224/yr
Modeled Cap Rate
1.89%
NOI: $13,661/yr
Cash-on-Cash Return
-18.17%
Cash Needed: $166,347
1% Rule Ratio
0.31%
Gross Yield: 3.69%
Break-Even Rent
$5,118/mo
State Tax: 0.82%/yr
INTERACTIVE PRO-FORMA STATEMENT (ZIP 97229 BENCHMARK)
Edit any value
Purchase Price (ZHVI proxy)
Monthly Gross Rent (ZORI proxy)
Down Payment (%)
Interest Rate (30Y Fixed %)
Annual Property Tax (OR Avg 0.82%)
Annual Home Insurance ($)
Monthly HOA Fee ($)
Monthly Debt Service (P&I)
-$3,657/mo
Monthly Operating Expenses (Tax + Ins + 13% Reserves)
-$1,085/mo
HISTORICAL ZHVI PRICE VS. ZORI RENT TRAJECTORY (97229)
| Year | ZHVI Value | ZORI Rent | Gross Yield |
|---|---|---|---|
| 2021 | $677,999 | $2,008/mo | 3.55% |
| 2022 | $767,614 | $2,204/mo | 3.45% |
| 2023 | $761,397 | $2,159/mo | 3.40% |
| 2024 | $756,653 | $2,274/mo | 3.61% |
| 2025 | $737,692 | $2,210/mo | 3.59% |
| 2026 | $723,247 | $2,223/mo | 3.69% |
COMPARABLE U.S. RENTAL MARKETS
| Zip / City | Price | Rent | Cap Rate | Cash Flow |
|---|---|---|---|---|
| 95020 Gilroy, CA | $1,043,769 | $3,096/mo | 1.89% | -$3,637/mo |
| 78745 Austin, TX | $405,447 | $1,497/mo | 1.88% | -$1,413/mo |
| 11214 New York, NY | $768,481 | $2,780/mo | 1.88% | -$2,684/mo |
| 90631 La Habra, CA | $931,259 | $2,752/mo | 1.88% | -$3,254/mo |
| 80016 Aurora, CO | $730,188 | $2,002/mo | 1.87% | -$2,553/mo |
| 11206 New York, NY | $1,125,835 | $4,066/mo | 1.87% | -$3,938/mo |