Situated in a convenient and central SW Portland location, this home offers exciting investment potential at an attractive price point. With four bedrooms, two bonus bedrooms/offices, and two bathrooms, there's prime opportunity for rental income with potential housing for students of OHSU or Portland State University, both less than a mile away. High ceilings and wood floors complement the vintage-style living room with an abundance of natural light. There's ample space in the functional kitchen and a large separate dining room is ready for casual dinner parties with family and friends. A brand new sewer line, central a/c, washer/dryer, and newer fencing for privacy for the low maintenance landscape. The unfinished basement provides a secure space for outdoor gear - perfect for exploring the Portland Japanese Gardens or PSU Farmers Market on the weekends. Within the Ainsworth Elementary/Lincoln High School boundaries. You'll have easy access to downtown Portland's restaurants, PSU food carts, Under Armor's Duniway Park running track, shopping, transit, events, and everything fun about urban living in PDX! [Home Energy Score = 1. HES Report at https://rpt.greenbuildingregistry.com/hes/OR10007610]
2 gorgeous turn of the century homes w/ incredible rental history within walking distance to PSU & downtown Portland amenities! Located in RH zoning for high density redevelopment in one of West Portland's highest demand rent locations! Featuring territorial and downtown building views, 83 WalkScore, 87 TransitScore, 69 BikeScore! Updated kitchen, tall ceilings, and lots of permitted updates! A must see! Sale includes 653 & 655 Sherman. [Home Energy Score = 1. HES Report at https://rpt.greenbuildingregistry.com/hes/OR10007610-20181011]
RMLS #13338904
Dec 30, 2013
Sold
$130,000
$93/sq ft
Dec 9, 2013
Pending
—
Oct 21, 2013
Listed
$195,000
$140/sq ft
+2
Super development opportunity. Lot zoned high density. Located easy walking distance to PSU and downtown. Quiet street. Value is mostly in land & not dwelling. Home is a likley tear-down but is currently rented. Perfect lot for 2-6 plex or even more? Keep home rented for cash flow while obtaining permits for your new plex or or apt. building! Can be sold together with 653 SW Sherman.
Year
Property tax
Land + Additions
Assessment*
2025
$6,783 (+3.7%)
2024
$6,539 (+4.0%)
2023
$6,288 (+2.2%)
2022
$6,152 (+1.7%)
2021
$6,048 (+9.0%)
2020
$5,548 (+3.8%)
2019
$5,344 (+3.0%)
2018
$5,187 (+4.3%)
2017
$4,971 (+9.3%)
2016
$4,549 (+47.4%)
2015
$3,087 (+1.5%)
2014
$3,041 (+2.4%)
2013
$2,971 (+10.5%)
2012
$2,687 (+3.9%)
2011
$2,586 (+5.5%)
2010
$2,451 (+2.7%)
2009
$2,386
Tax history for 655 SW Sherman St
Year
Property tax
Land + Additions
Assessment*
2025
$6,783 (+3.7%)
2024
$6,539 (+4.0%)
2023
$6,288 (+2.2%)
2022
$6,152 (+1.7%)
2021
$6,048 (+9.0%)
2020
$5,548 (+3.8%)
2019
$5,344 (+3.0%)
2018
$5,187 (+4.3%)
2017
$4,971 (+9.3%)
2016
$4,549 (+47.4%)
2015
$3,087 (+1.5%)
2014
$3,041 (+2.4%)
2013
$2,971 (+10.5%)
2012
$2,687 (+3.9%)
2011
$2,586 (+5.5%)
2010
$2,451 (+2.7%)
2009
$2,386
*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.
Public record
Public record
Zoning
Permits
Beds
1
Baths
2
Stories
2
Lot width
—
Lot depth
—
Lot size
2,970 Sq. Ft.
Year renovated
1890
Sq. Ft.
1,525
Year built
1890
Style
Single Family Residential
County
Multnomah County
APN
R128764
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jul 15, 2026.
RM4
D
Residential Multi-Dwelling 4 zone
The RM4 zone is a high density, urban-scale multi-dwelling zone applied near the Central City, and in town centers, station areas, and along civic corridors that are served by frequent transit and are close to commercial services. It is intended to be an intensely urban zone with a high percentage of building coverage and a strong building orientation to the pedestrian environment of streets, with buildings located close to sidewalks with little or no front setback. This is a mid-rise to high-rise zone with buildings of up to seven or more stories. The Design overlay zone is applied to this zone.
Zone overlays
Design Overlay Zone
Permitted uses
Include but are not limited to:
Housing
Housing-Group
Housing-Single unit
Housing-Multiple units
Housing-Senior
Park & open space
Jun 29, 2023 • Final
Plumbing
Plumbing
Feb 1, 2023 • Final
Bes - sewer connection plumbing
Construct a new sanitary sewer connection including a new wye at the curb and a cleanout in the lateral. Rebuild existing branches to the property line and tie into the existing lateral. Verify all depths and locations in the field.
Plumbing
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.