$449,000
8434 SE 17th Ave, Portland, OR 97202
Sellwood 2-Story: CM2 Flex-Use, New Roof, Detached Garage
3 Bed · 2 Bath · 1,227 Sq Ft
Flexible live/work home in Sellwood-Moreland — roof replaced 2026.
3
Beds
2
Baths
1,227
Sq Ft
1900
Built
0.12 acres
Lot
Detached garage + off-street driveway
Garage
About 8434 SE 17th Ave
This classic two-story Sellwood-Moreland home blends historic character with practical flexibility. At 1,227 SF, the house offers three upstairs bedrooms and two bathrooms in a comfortable plan that functions well as a family residence or a professional live/work setup. A complete roof replacement in 2026 addresses a major capital item and gives buyers immediate confidence to plan interior improvements on their own timetable.
The property stands on a level 5,227 SF lot with mature landscaping and a detached garage plus off-street parking — a welcome feature in this part of SE Portland. Inside, the layout is straightforward and serviceable as-is but ready for modernization: new kitchen and bath finishes, targeted mechanical upgrades, and tasteful restoration of period details will meaningfully increase market value. For business owners or professionals, the City of Portland’s CM2 zone provides additional permitted uses (professional office, live/work, neighborhood retail under certain conditions), so the home can perform as both a residence and a workspace subject to due-diligence and permits.
Location is a key advantage. Walk or bike to neighborhood shops, coffee, antiques and restaurants on nearby SE Milwaukie and SE 13th avenues, and enjoy easy access to Sellwood Park, Westmoreland Park and the Oaks Bottom greenway. Transit options to inner Portland and downtown are nearby, and the Sellwood Bridge and bike routes make commuting straightforward. This price point creates an attractive entry to Sellwood for investors seeking a value-add reposition, professionals seeking a combined home-office, or owner-occupants aiming to modernize over time.
Practical details: the home is offered at $449,000; it is livable now with a major roof replacement completed in 2026 and includes a detached garage. Buyers should verify zoning uses, confirm school assignment and order inspections to scope any mechanical work. With the right updates, this property is positioned to capture outsized upside in one of Portland’s most sought-after neighborhood pockets.
Home Highlights
Property Features
Interior Features
- 3 bedrooms, 2 bathrooms
- 1,227 finished square feet across two levels
- Livable-as-is with good bones; ready for modernization
- Period details likely present — candidate for tasteful restoration
- Potential for live/work use under CM2 zoning (buyer to verify)
Exterior & Lot
- Level 5,227 SF lot with mature landscaping
- Detached garage (approx. one-car footprint)
- Off-street driveway parking
- New roof installed in 2026
- Fenced/established yard appropriate for family use or rental
Location & Neighborhood
- Sellwood-Moreland neighborhood — sought-after SE Portland community
- Short walk to neighborhood shops, cafes and antique row
- Close to Sellwood Park, Westmoreland Park and Oaks Bottom
- Easy access to Sellwood Bridge and transit into inner Portland
Walkability & Recreation
- Walkability Rating: 85/100
- Excellent access to parks, trails and neighborhood retail
- Biking routes to downtown and waterfront greenways
Neighborhood & Location
Sellwood-Moreland is a beloved southeast Portland neighborhood known for tree-lined residential streets, an active commercial corridor with independent shops and restaurants, and easy access to multiple parks and riverfront trails. The area attracts families and professionals seeking neighborhood amenities combined with quick access to central Portland. Architecture is a mix of early-20th-century cottages and modest newer infill.
Market Insights
Sellwood-Moreland remains one of inner-SE Portland’s stronger micro-markets. As of early 2026 inventory is still tighter than the broader Portland region for well-located single-family homes, though overall price appreciation has moderated to low single digits year-over-year. Smaller, unrenovated homes like this one often trade below fully updated comparables but can yield excellent returns after a focused renovation. CM2 zoning broadens buyer interest to include local professionals who need office space plus residence — a unique demand vector that can shorten days on market if marketed correctly. Expect an active buyer pool for competitively priced, well-marketed properties in this area; updated three-bed homes commonly attract multiple offer situations while dated homes receive strong interest from investors and owner-upgraders.
Nearby Schools
Portland Public Schools - Local Elementary (verify assignment)
Elementary · 0.5 - 1.5 mi (approx)
Portland Public Schools - Local Middle (verify assignment)
Middle · 1.0 - 2.0 mi (approx)
Franklin High School (common neighborhood high school)
High · 2.0 - 3.5 mi (approx)
Walkability & Recreation
Immediate access to Sellwood Park, Westmoreland Park and Oaks Bottom greenway — excellent for walking, biking and family recreation.
Investment Highlights
- CM2 zoning provides flexible use: residential, live/work, or small professional office (buyer to verify)
- Recent roof replacement in 2026 reduces short-term capital needs
- Detached garage plus off-street parking — a valuable amenity in Sellwood
- Level 5,227 SF lot in highly desirable Sellwood-Moreland neighborhood
- Attractive price point relative to larger updated homes in the area — potential for value-add renovation
Key Findings
- 1,227 SF two-story home with 3 beds and 2 baths; built circa 1900
- Listed at $449,000; estimated value range $420k–$485k (market directional)
- Zoned CM2 (Commercial/Mixed) under City of Portland rules — expands potential uses
- Roof replaced in 2026 — documented major improvement
- Detached garage present; off-street parking available
Things to Consider
- Interior condition appears dated — renovation costs could be material depending on desired scope
- CM2 zoning offers optionality but also complexity: entitlements, design review, and neighbor preference can affect timeline
- Smaller footprint (1,227 SF) can limit buyer pool for buyers seeking larger turnkey family homes
- Assessor values, utility capacities, and exact setbacks not verified — confirm during due diligence
Opportunity Analysis
Acquire a compact historic Sellwood home at a sub-market entry price with flexibility to (a) renovate for resale or higher rent, (b) operate as a professional/live-work space under CM2 zoning, or (c) hold for longer-term redevelopment or densification opportunities aligned with Portland code changes. Focus on modest interior modernization to maximize price-per-square-foot gains while preserving the neighborhood character.
Potential Use Scenarios
- Target cosmetic + systems renovation ($20k–$80k) to lift value and rent; stage for resale to owner-occupants
- Market to local professionals (therapists, architects, insurance agents) for immediate live/work conversion possibilities
- Perform zoning/density feasibility early if planning multi-unit or mixed-use redevelopment
- Lease as a long-term rental while evaluating redevelopment options
Risk Factors
- Permit and entitlement risk for conversion or redevelopment under CM2
- Cost uncertainty for interior mechanical upgrades (HVAC, electrical, plumbing) in an older home
- Market sensitivity to interest rates and Portland-specific demand cycles
- Neighborhood design review or community resistance to commercial/multi-family intensification
Buyers should conduct independent due diligence before making any purchase decisions.
AI Valuation Estimate
Low
$420K
Midpoint
$453K
High
$485K
$367/SF estimated price per square foot
Estimate anchored to the public list price of $449,000 and adjusted for size (1,227 SF), CM2 zoning premium (flexible use), recent roof replacement (2026), and comparables knowledge in Sellwood-Moreland. No live MLS comparable search performed — values are directional.
As of 2026-03-14
This is a computer-generated estimate for informational purposes only and is not an appraisal or professional valuation.
Market & Area Data
Market Trends
Demographics
Stable urban neighborhood with steady demand from families and professionals seeking proximity to parks, transit, and neighborhood retail. Moderate population growth in outer SE Portland since 2020.
Nearby Points of Interest
- Sellwood Park (approx. 0.4 mi)
- Oaks Amusement Park / Oaks Bottom area (approx. 0.8-1.2 mi)
Property sits in the established Sellwood-Moreland neighborhood with easy access to antique shops, cafes and restaurants along SE Milwaukie and SE 13th, several parks (Sellwood Park, Westmoreland Park, Oaks Bottom), the Sellwood Bridge and transit connections into inner Portland and downtown.
School District
Market data is based on aggregated public records and may not reflect real-time conditions.
Property Details
Building Details
Lot & Site
Utilities
Zoning & Land Use
Allowed Uses
Tax & Sale History
Tax Assessment
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