5 Cheapest Fixer Homes for Sale in Portland

Got the itch to put in a little sweat equity? Or interested in making an investment that needs a little TLC to shine? No doubt you’ve seen house flipping become a phenomenon over the years as reality shows spread the gospel. Now, keep in mind that it’s can be a lot more work and take more time than a 30 minute show on HGTV conveys.

But if you’ve got the time and the funds, buying a fixer upper can really pay off. If you are looking to flip, ATTOM Data Solutions’ numbers show that while the rate of home flipping declined in 2020, profit margins reached their highest in twenty years.

What about if you’re buying the house for yourself to live in? The best benefit of buying a fixer home is that you can renovate it specifically to your individual taste and needs. No working around the previous owner’s choices, or dealing with those little eccentricities of a home that just doesn’t quite fit your lifestyle. All the personal touches will be yours alone.

Or, buy a fixer to rent out! Many of the cheapest fixer homes for sale in Portland right now are on the smaller side, making them attractive to renters who don’t want to live in a tiny apartment or an infamous group house (especially given the pandemic). And if you’re worried about the costs adding up? Well, that’s a concern, of course. But don’t forget to consider a renovation mortgage, many of which will work the cost of repairs into your mortgage.

Intrigued? Wait until you see how low the prices are on some of these hidden gems of Portland! Let’s check them out.

#1 – 5226 SE 122nd Ave.

5226 SE 122nd Ave.

You’ve got a lot to work with here with this small but charming home. Its .19 acre corner lot has all the potential for a spacious yard designed to your taste. At the moment, it’s wide open, making it easy to add all new landscaping, or install a tool shed. There’s also a huge amount of parking with an oversized garage. Plenty of room for and RV, a boat, or whatever your favorite toy is.

This property is zoned CM1 (commercial/mixed use), so this is a great opportunity for anyone looking for a space for a small business as well. The inside certainly needs updating – you likely could see the wood-paneled walls go! But at a price under $200,000, you’ve got plenty of financial wiggle room to make this your own haven.

#2 – 607 NE 172nd Ave.

607 NE 172nd Ave.

This modest little house also sits on a large lot at nearly a quarter of an acre. We’ll give it to you straight: you’ve got your work cut out for you with the home itself. But the right investor could turn this property around. Since the zoning allows for multiple use dwellings and lot is so large, this property leaves you with a lot of options. It’s ideal for someone willing to tear down and rebuild. Imagine an ADU to rent, house family members, or use as a home office.

#3 – 4704 NE 108TH AVE

Another good investment opportunity awaits you with this home. It’ll definitely need your TLC, but imagine some of these rooms with sleeker, modern fixtures and you’re in the game. This is an older home for Portland, which scares some folks away, but an older home that’s still around by now means this one probably has good bones. Hardwood floors are a bonus, and the carport could be expanded into a full garage. At such a low price, the possibilities for a remodel are countless!

#4 – 2812 NE Bryant St.

2812 NE Bryant St.

This raised ranch style home may have seen better days, but you don’t have to squint to see that it has innate charm. Make the elevated porch, once fixed up and repainted, the oasis where you take your morning coffee. Hardwood floors throughout and a partially finished basement provide a good foundation for a truly special home for anyone willing to put in the sweat.

The sloping yard, while currently a little overgrown, is chock-full of potential for elegant, multi-level landscaping. Get out your gardening gloves!

#5 – 4825 NE 102nd Ave.

4825 NE 102ND AVE

Okay, so there are a couple of fixer uppers out there at a somewhat lower price right now. But not for this price per square foot! At just under $114 per square foot, you can’t beat this home when it comes to bang for your buck. CM2 zoning provides potential for anyone interested in a mixed use investment opportunity. Live on one level, run a business on the other!

A partially finished basement and garage add to this property’s space. And a large backyard surrounded by mature trees is sure to make a peaceful retreat for any owner after the repairs are finished.

Let’s Go Check Them Out Together

If you’re ready to find the top Portland homes for sale, you’ve come to the right place. Whether you want an at-home workout space or somewhere to relax, we’ll help you get into the home of your dreams! Call us at 503-773-0000 to find out more or schedule a tour.