Thursday, June 19, 2014

Upate: First HOST Development Home in NE Portland; 2013 Market Value Was 5.3 Times $45,000 1991 Sales Price.

Took out link to historical Oregonian article, it didn't work.  If you have Oregonian access search for story Renewal of Neighborhood Underway, November 1, 1990
HOST Development was a Portland based CDC that is no longer in business, done in by the recession. 

The largest development that HOST did was Charleston Place, but before that they did scattered site development in NE Portland.

The first home HOST developed was first completely gutted and rebuilt at a Oregon Remodelers event at the Memorial Coliseum and then later moved to the site on NE 9th and NE Shaver. 

PortlandMaps indicates a sales price of $45,000 in December of 1991; the 2013 assessor real market value was $241,670, or 5.37 times the original sales price. 

For this home a down payment of less than $2,500 would have produced an increase in value of $197,670 in 22 years; check my math but I think that is a 20%+ annual return on the original down payment.

Originally created and posted on the Oregon Housing Blog.

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