To be honest Glen.....probably not. The schools there have been in disarray for many years. The market is slow and the farther out you go the less likely a hot market will follow. Having said that it is all about getting a good value right now. You should be able to buy a home at the low end for comparable sales and should be able to see that you are getting a good value.
The Parkrose area is in a very good location relative to the Airport, 205, and I-84. Therefore it can be a good area to invest....just like any area. The 10 year picture for Portland is pretty Rosie! So if you buy a really well priced home the answer is go for it. It may be up and coming and it may not be. It really depends upon who you ask. But I would not give that area a premium or expect it to out perform areas closer in to the downtown core.
If you find a home you like than buy it after you check out comparables.
Best wishes to you in your Quest!
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