Portland Oregon Multnomah County 3 Bedroom 2 Bathroom Single Family $400K-$500K CM2 Zoning Sellwood-Moreland 1900-built Detached Garage Value-Add Live-Work Listed by Jeffrey Clair

CompCasa valuation analysis

Estimated market value

$452,500

Low $420,000 · Midpoint $452,500 · High $485,000

Confidence65%Sales comparison approach

CompCasa estimate$452,500Mar 14, 2026

$420,000$452,500 midpoint$485,000

Price / sq ft$367

Median sale price$650,000

Avg days on market20 days

Inventory2.5 months

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.

About the property

Sellwood 2-Story: CM2 Flex-Use, New Roof, Detached Garage

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.

Property details

A 1900 contemporary|period cottage on 0.12 acres.

Building

Year built1900

ConstructionWood Frame (Typical For Early 20th Century Portland Homes)

RoofRecently Replaced (2026) Likely Composition Shingle (Buyer To Verify)

Site & utilities

Lot size0.12 acres

GarageDetached garage (one-car footprint likely) plus off-street parking

Stories2

ConditionGood (Major Roof Replacement In 2026; Interior Appears Livable But In Need Of Modernization)

BasementNone

Improvement notesClassic 2-story layout. Interior described as livable-as-is and ready for modernization; ideal for renovation, live/work, or office conversion subject to CM2 rules and permits.

Lot area5,227 sq ft

TopographyLevel

FrontageStandard neighborhood frontage on SE 17th Ave; level lot with mature landscaping.

ParkingDetached Garage And Driveway

Parking spaces2

Parking notesDetached garage noted in listing description; additional off-street driveway parking.

AccessStreet access via SE 17th Ave; straightforward ingress/egress for residential or small office use.

WaterCity Of Portland Water (Assumed)

SewerCity Of Portland Sewer (Assumed)

ElectricUtility Service Present (Assumed PGE)

GasNatural Gas Likely Available (Assumed NW Natural)

Location & nearby

Sellwood-Moreland

Researched nearby locations

Sellwood Park (approx. 0.4 mi)

Oaks Amusement Park / Oaks Bottom area (approx. 0.8-1.2 mi)

Location

8434 SE 17th Ave, Portland, OR 97202

View map

View in Google Maps

Editorial neighborhood context

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.

Nearby access summary

Immediate access to Sellwood Park, Westmoreland Park and Oaks Bottom greenway — excellent for walking, biking and family recreation.

ElementaryWest Sylvan? (Portland Public Schools) — nearest assigned elementary likely within PPS; see note

Middle schoolSellwood-area middle school (Portland Public Schools) — verify enrollment boundaries

High schoolFranklin High School (Portland Public Schools) — common neighborhood comprehensive high school option

School districtPortland Public Schools

Market context

A factual market snapshot around 8434 SE 17th Ave.

Median sale price$650,000

Avg days on market20 days

Inventory2.5 months

1-year appreciation400.0%

5-year appreciation1800.0%

Editorial market perspective

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.

Zoning & land use

Commercial/Mixed-use (CM2) — allows mixed residential and commercial uses, neighborhood-serving businesses and small multi-unit housing subject to development standards and review.

Zoning

Zoning codeCM2

DescriptionCommercial/Mixed-use (CM2) — allows mixed residential and commercial uses, neighborhood-serving businesses and small multi-unit housing subject to development standards and review.

JurisdictionCity of Portland

Current useResidential (With Commercial Potential Under CM2)

SetbacksSetback and development standards governed by City of Portland zoning code; buyer to verify allowable build envelope and ADU/density options.

Research-indicated uses

Single Family Residence
Live/Work And Small Professional Offices
Neighborhood Serving Retail/Food Service (Subject To Limits)
Potential For Small Multifamily Or Mixed Use Redevelopment (Subject To Site Size, Design Review, And Local Code)

Verify with the jurisdiction: Zoning, setbacks, and allowed-use summaries are research indicators—not legal advice or a determination that a specific use is permitted.

Research findings & due diligence

What the research supports — and what is still worth verifying.

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

Highlights & features

What stands out about this property.

01CM2 zoning — flexible live/work/office potential

02New roof in 2026 — major near-term capital item resolved

03Detached garage + off-street parking

04Level lot with mature landscaping in Sellwood-Moreland

05Entry price for a well-located Sellwood property with upside

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

Research transparency

Sources & research confidence.

See where the property research came from and how confidence varies by field.

View sources & confidence

Redfin scraped dataView source

MLS scraped fields

Important: This analysis is AI-assisted using pre-scraped listing data and model knowledge. It is not a formal appraisal. Verify all critical facts before making decisions.