The cache is at the posted coordinates. You must qualify for the challenge to log this as a find.
Here's a challenge that I hope is easy and fun. To qualify, you must find at least 100 caches of any type with a difficulty rating of 1-star. The terrain ratings don't matter, as long as the difficulty rating is only 1-star.
Past cache finds count. You can sign the cache logbook anytime, but you may only log this as a "Find" once you qualify.
You can use the Project-GC checker below to see if you qualify.
The published terrain rating is based on the travel you'll do to accumulate 100 1-star-difficulty caches. The actual terrain rating for the cache is 1.5.
Geocaching rules state I must qualify for my own challenge, and I do with over 500 1-star-difficulty caches.

Here's a heads-up, in case you are bothered by gunshots: this cache is next to the Hillsboro Trap and Skeet Club.
This isn’t a great spot for a cache - the only redeeming feature really is that it helps people qualify for page 562 in the The Portland "Thomas Map" Challenge