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$429,900 Just Listed

  • For Sale
  • Active
  • Townhouse
  • 3 Beds
  • 2 Full Baths
  • 1 Partial Bath
  • 1,551 Sq. Ft.
  • Updated 3 days ago
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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.

Full Property Details for 12478 SE Water Drop Wy

General

  • Price: $429,900
  • HOA FEE: $179/month
  • Taxes: $5,848 (2025)
  • Status: Active
  • Type: Townhouse
  • Source: RWMLS
  • MLS ID: 713762057
  • Updated: 4/10/2026
  • Added to Site: 5 day(s) ago

Interior

  • Interior Features: Laundry, Quartz, Vaulted Ceiling(s), Wall to Wall Carpet
  • Fireplace: Yes
  • Number of Fireplaces: 1
  • Fireplace(s): Electric, Insert
  • Appliances: Dishwasher, Disposal, Free-Standing Range, Gas Appliances, Granite, Island, Microwave, Plumbed For Ice Maker, Quartz, Stainless Steel Appliance(s)

Rooms

Bathrooms

  • Total Bathrooms: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 1
  • Upper - Full Baths: 2

Bedrooms

  • Total Bedrooms: 3
  • Primary Bedroom: 12 x 16, Upper, 192 Sq. Ft.
  • Bedroom 2: 9 x 15, Upper, 135 Sq. Ft.
  • Bedroom 3: 9 x 13, Upper, 117 Sq. Ft.

Other Rooms

  • Family Room: 14 x 19, Main, 266 Sq. Ft.
  • Kitchen: Main
  • Dining Room: 7 x 8, Main, 56 Sq. Ft.
  • Laundry: Upper

Additional Information

  • Shared Amenities: Basketball Court, Commons, Exterior Maintenance, Front Yard Landscaping, Insurance, Maintenance Grounds, Management, Meeting Room, Party Room, Pool

Exterior

  • Exterior Features: Fenced, Patio, Sprinkler, Yard

Parking

  • Garage: Yes
  • Attached garage: Yes
  • Total Spaces: 1
  • Parking Features: Driveway

Location

  • County: Clackamas
  • Subdivision: PLEASANT VALLEY
  • Driving Directions: Sunnyside Rd to 162nd to Majestic Falls Ave to Sunshower Pl to Water Drop Way

School Information

  • Elementary School: Scouters Mtn
  • Middle School: Happy Valley
  • High School: Clackamas

Community

  • Community Name: 145 - Milwaukie, Gladstone, Happy Valley, Clckmas, Dmscus, Estacada
  • Association: Yes

Heating & Cooling

  • Air Conditioning: Yes
  • Cooling Type: Wall Unit(s)
  • Heating Type: Mini Split
  • Heating Fuel: Electricity, Gas

Utilities

  • Sewer: Public Sewer
  • Water: Public Water

Structural Information

  • Architectural Style: Contemporary, Townhouse
  • Basement Desc.: Crawl Space
  • Roof: Composition
  • Windows: Storm Window(s)
  • Stories/Levels: 2
  • Square Feet: 1,551
  • Year Built: 2021
  • Property Condition: Resale

Lot Features

  • Lot Size (Acres): 0.04
  • Lot Size (Sq. Ft.): 1,742
  • Lot Size: 0K to 2, 999 SqFt
  • Frontage: Paved
  • Lot Features: Level

Financial Considerations

  • Association Fee: $179
  • Assoc Fee Freq.: Monthly
  • Tax Amount: $5,848.4
  • Tax Year: 2025
  • Terms: Cash, Conventional, FHA

Disclosures and Reports

  • Legal Description: SUBDIVISION PLEASANT VALLEY VILLAGES 4606 LT 59
  • Disclosures/Reports: Disclosure
  • Property ID: 5035806

Listed by Cascade Hasson Sotheby's International Realty (503) 420-8650, Michelle Spanu (503) 330-5573

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Listing agent

— 12478 SE Water Drop Wy —

  • Michelle Spanu

    Cascade Hasson Sotheby's International Realty

    503-420-8650

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NMLS#: 1598647

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Be ready to buy your new home!

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NMLS#: 1598647

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Request a Quote

Save up to an additional 20% by bundling your home and auto together!

Schools serving 12478 SE Water Drop Wy

School District:North Clackamas School District 12
NameGradesDistance
Scouters Mountain Elementary School
10811 Southeast 172nd Avenue, Happy Valley, OR 97086
K-50.8 mi
Happy Valley Middle School
13865 Southeast King Road, Happy Valley, OR 97086
6-81.6 mi
Adrienne C. Nelson High School
14897 SE Parklane Dr, Happy Valley, OR 97015
9-121.1 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 12478 SE Water Drop Wy Get Price Alerts and Save Property

Date
Details
Price
Change
Source
4/09/2026
Listed
$429,900
2.73%
MLS
12/08/2020
Sold
$418,486
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 12478 SE Water Drop Wy

Year
Property Taxes
Change
Tax Assessment
Change
2025
$5,848
4%
$286,609
3%
2024
$5,649
3%
$278,262
3%
2023
$5,495
9%
$270,158
6%
2021
$5,034
-3%
$254,651
-3%
2022
$5,215
4%
$262,290
255%
2021
$5,034
—
$73,856
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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NMLS#: 1598647

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Listed by Cascade Hasson Sotheby's International Realty (503) 420-8650, Michelle Spanu (503) 330-5573

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12478 SE Water Drop Way, Happy Valley, OR 97086 (MLS# 713762057) is a Townhouse property with 3 bedrooms, 2 full bathrooms and 1 partial bathroom. 12478 SE Water Drop Way is currently listed for $429,900 and was received on April 09, 2026. Want to learn more about 12478 SE Water Drop Way? Do you have questions about finding other Townhouse real estate for sale in Happy Valley? You can browse all Happy Valley real estate or contact a Coldwell Banker agent to request more information.

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