Discover this stylish, energy-conscious home in the sought-after Happy Valley community, thoughtfully designed with modern upgrades throughout. Gently lived in and truly move-in ready, this upgraded former model townhome offers 3 bedrooms, 2.5 bathrooms, and a single-car garage. The kitchen is a standout feature, showcasing quartz countertops, a custom tile backsplash, newer stainless-steel appliances, generous cabinetry, a roomy pantry, and a large island with bar seating—perfect for everyday living and entertaining. The main level features an open-concept great room filled with natural light, a sleek contemporary fireplace, and durable luxury vinyl plank flooring. Upstairs, the spacious primary suite impresses with vaulted ceilings, a walk-in closet, and a spa-inspired bathroom complete with dual sinks, quartz finishes, and a walk-in shower. You’ll also find a convenient laundry area with built-in storage, along with two additional bedrooms and a full bath. Step outside to a fully fenced, low-maintenance backyard featuring easy care landscaping and ample space for gardening. Residents enjoy access to community amenities such as a pool, clubhouse, basketball courts, parks, and scenic walking trails—all with a low HOA. Located near top-rated schools and everyday conveniences, this home combines modern living with a prime location for an exceptional lifestyle.
Sold
$439,000
12478 SE Water Drop Way, Happy Valley, OR 97086
3beds
1,551sqft
Residential, Townhouse
Built in 2021
1,742 Square Feet Lot
$437,300 Zestimate®
$283/sqft
$2,720 Estimated rent
Home value
$437,300
$415,000 - $459,000
$2,720/mo
Zestimate® history
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List your homeWhat's special
Single-car garageFully fenced low-maintenance backyardSleek contemporary fireplaceEasy care landscapingWalk-in closetAmple space for gardeningVaulted ceilings
Zillow last checked:
Listing updated:
Listed by:
Michelle Spanu 503-330-5573,
Cascade Hasson Sotheby's International Realty
Bought with:
Tera Harder, 201259592
Lewis Realtors
Source: RMLS (OR),MLS#: 713762057
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 3
- Full bathrooms: 2
- Partial bathrooms: 1
- Main level bathrooms: 1
Rooms
- Room types: Laundry, Bedroom 2, Bedroom 3, Dining Room, Family Room, Kitchen, Living Room, Primary Bedroom
Primary bedroom
- Features: Double Sinks, Suite, Vaulted Ceiling, Walkin Closet, Wallto Wall Carpet
- Level: Upper
- Area: 192
- Dimensions: 12 x 16
Bedroom 2
- Features: Closet, Wallto Wall Carpet
- Level: Upper
- Area: 135
- Dimensions: 9 x 15
Bedroom 3
- Features: Closet, Wallto Wall Carpet
- Level: Upper
- Area: 117
- Dimensions: 9 x 13
Dining room
- Features: Patio, Sliding Doors
- Level: Main
- Area: 56
- Dimensions: 7 x 8
Family room
- Features: Fireplace, Patio, Sliding Doors, Vaulted Ceiling
- Level: Main
- Area: 266
- Dimensions: 14 x 19
Kitchen
- Features: Dishwasher, Disposal, Gas Appliances, Microwave, Pantry, Quartz
- Level: Main
Heating
- Mini Split, Fireplace(s)
Cooling
- Wall Unit(s)
Appliances
- Included: Dishwasher, Disposal, Free-Standing Range, Gas Appliances, Microwave, Plumbed For Ice Maker, Stainless Steel Appliance(s), Tankless Water Heater
- Laundry: Laundry Room
Features
- Quartz, Vaulted Ceiling(s), Closet, Pantry, Double Vanity, Suite, Walk-In Closet(s), Granite, Kitchen Island
- Flooring: Wall to Wall Carpet
- Doors: Sliding Doors
- Windows: Storm Window(s)
- Basement: Crawl Space
- Number of fireplaces: 1
- Fireplace features: Electric, Insert
Interior area
- Total structure area: 1,551
- Total interior livable area: 1,551 sqft
Property
Parking
- Total spaces: 1
- Parking features: Driveway, Attached
- Attached garage spaces: 1
- Has uncovered spaces: Yes
Accessibility
- Accessibility features: Garage On Main, Accessibility
Features
- Stories: 2
- Patio & porch: Patio
- Exterior features: Yard
- Fencing: Fenced
Lot
- Size: 1,742 Square Feet
- Features: Level, Sprinkler, SqFt 0K to 2999
Details
- Parcel number: 05035806
Construction
Type & style
- Home type: Townhouse
- Architectural style: Contemporary
- Property subtype: Residential, Townhouse
- Attached to another structure: Yes
Materials
- Cement Siding
- Foundation: Pillar/Post/Pier
- Roof: Composition
Condition
- Resale
- New construction: No
- Year built: 2021
Utilities & green energy
- Gas: Gas
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Cable Connected
Community & HOA
Community
- Subdivision: Pleasant Valley
HOA
- Has HOA: Yes
- Amenities included: Basketball Court, Commons, Exterior Maintenance, Front Yard Landscaping, Insurance, Maintenance Grounds, Management, Meeting Room, Party Room, Pool
- HOA fee: $179 monthly
Location
- Region: Happy Valley
Financial & listing details
- Price per square foot: $283/sqft
- Tax assessed value: $465,923
- Annual tax amount: $5,848
- Date on market: 4/9/2026
- Cumulative days on market: 5 days
- Listing terms: Cash,Conventional,FHA
- Road surface type: Paved
Price history
| Date | Event | Price |
|---|---|---|
| 5/11/2026 | Sold | $439,000+2.1%$283/sqft |
Source:  RMLS (OR) #713762057 Report a problem | ||
| 4/16/2026 | Pending sale | $429,900$277/sqft |
Source: RMLS (OR) #713762057 Report a problem | ||
| 4/9/2026 | Listed for sale | $429,900$277/sqft |
Source: RMLS (OR) #713762057 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $5,848 +3.5% | $286,609 +3% |
| 2024 | $5,649 +2.8% | $278,262 +3% |
| 2023 | $5,495 +5.4% | $270,158 +3% |
| 2022 | $5,215 +3.6% | $262,290 +3% |
| 2021 | $5,034 +262.3% | $254,651 +244.8% |
| 2020 | $1,390 | $73,856 |
Find assessor info on the county website
Neighborhood: 97086
Nearby homes
- $470,6003 bd2 ba1.5k sqft12486 SE Water Drop Way, Happy Valley, OR 97086Off Market
- $482,8003 bd2 ba1.5k sqft12470 SE Water Drop Way, Happy Valley, OR 97086Off Market
- $699,0004 bd3 ba2.5k sqft16513 SE Shimmering Leaf, Happy Valley, OR 97086Off Market
- $484,7003 bd2 ba1.5k sqft12462 SE Water Drop Way, Happy Valley, OR 97086Off Market
- $505,0003 bd3 ba1.7k sqft16436 SE Shimmering Leaf, Happy Valley, OR 97086Sold
- $479,4003 bd2 ba1.5k sqft12454 SE Water Drop Way, Happy Valley, OR 97086Off Market
- from $474,9603 bd3 ba1.5k sqftThe 1520 Plan, Pleasant Valley Villages, Happy Valley, OR 97086New Construction
- from $654,9604 bd3 ba1.8k sqftThe 1857 Plan, Pleasant Valley Villages, Happy Valley, OR 97086New Construction
Nearby schools
GreatSchools rating
- 10/10Scouters Mountain Elementary SchoolGrades: K-5Distance: 0.8 mi
- 5/10Happy Valley Middle SchoolGrades: 6-8Distance: 1.6 mi
- 6/10Adrienne C. Nelson High SchoolGrades: 9-12Distance: 1.1 mi
Schools provided by the listing agent
- Elementary: Scouters Mtn
- Middle: Happy Valley
- High: Clackamas
Source: RMLS (OR). This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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Estimated market value
$437,300
Get a cash offer in 3 minutes
Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$437,300
- Oregon
- Clackamas County
- Happy Valley
- 97086
- 12478 SE Water Drop Way
