4647 Winter Ave #9 · Altamont, OR 97603

$99,900

3 bd · 2.0 ba · 900 sqft · Manufactured · 87 Days on market

Built 2025 Good condition $111/sqft · 33% above area Est $75k · 33% over

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• Condition / age +4.2/5.0
• Rent growth +3.5/5.0
• Livability +3.2/5.0
• Schools +2.5/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This brand-new 3-bedroom, 2-bath manufactured home offers the perfect blend of modern style and comfortable living in the well-maintained Shasta Glen Mobile Home Park. The bright open floor plan creates a spacious and inviting atmosphere, enhanced by durable vinyl flooring throughout and stylish contemporary finishes that give the home a clean, modern feel. The thoughtfully designed layout includes a private primary suite featuring a walk-in closet and an ensuite bath, providing a relaxing retreat at the end of the day. The home also includes convenient washer and dryer hookups and a covered carport to help protect your vehicle from the elements. Everything in the home is brand new and comes with a warranty, offering added peace of mind and low-maintenance living. Move-in ready and beautifully finished, this home is a fantastic opportunity to enjoy modern comfort in a welcoming community.

Key facts

• Open floor plan
• Vinyl flooring
• Walk-in closet

Tags

• OPEN FLOOR PLAN
• VINYL FLOORING
• PRIVATE PRIMARY SUITE
• WALK-IN CLOSET
• ENSUITE BATH
• WASHER AND DRYER HOOKUPS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $100k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $425 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.4% vs local median 3.7% in Altamont — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 65/100 on livability (#195 in OR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D, crime F.
• Klamath County SD (rural): math 21% / reading 37% proficiency, ranked #46 of 58 in OR (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+3.8%/yr); 263 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 232 units permitted in Klamath County in 2024 (72 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Klamath County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.8% rent growth), your $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.

Recommended offer $93,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.41% ✓
• Cap rate: 11.40%
• Cash-on-cash: 18.25%
• DSCR: 1.81
• GRM: 5.9

CMA / ARV

• ARV (median comp): $75,000
• List price: $99,900
• Delta: 33.20%
• Verdict: OVERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4647 Winter Ave #50	0.00mi	3/2.0	900 (0%)	4mo	$96,500	$107	97
4647 Winter Ave Spc 82	0.02mi	3/2.0	900 (0%)	15mo	$98,000	$109	87
4647 Winter Ave Spc 88	0.02mi	3/2.0	900 (0%)	19mo	$104,900	$117	83
4647 Winter Ave Spc 15	0.02mi	3/2.0	900 (0%)	21mo	$102,900	$114	82
3500 Summers Ln #3	0.44mi	2/1.0 (-1)	900 (0%)	7mo	$32,500	$36	65
4200 Summers Ln Unit 35	0.61mi	2/2.0 (-1)	924 (+3%)	1mo	$65,000	$70	62
3646 Summers Ln #3	0.41mi	2/1.0 (-1)	924 (+3%)	11mo	$77,000	$83	58
2934 Summers Ln Unit 26	0.75mi	2/2.0 (-1)	924 (+3%)	3mo	$47,000	$51	53
3415 Crest St #11	0.54mi	2/1.0 (-1)	840 (-7%)	13mo	$59,250	$71	44
5602 Denver Ave Unit 4	0.52mi	2/1.0 (-1)	784 (-13%)	2mo	$15,000	$19	44
5602 Denver #8	0.52mi	2/2.0 (-1)	784 (-13%)	10mo	$42,000	$54	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.8% rent growth · sell at horizon

5-year hold

• IRR: 10.8%
• Equity multiple: 1.43×
• Total profit: $12,079
• Equity at exit: $14,895

10-year hold

• IRR: 20.5%
• Equity multiple: 2.80×
• Total profit: $50,279
• Equity at exit: $8,638

Cash invested: $27,972 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 28 Tenant-Leaning
• State Oregon: 28 Tenant-Leaning · D+6
• County: — inherits STATE
• City: — inherits STATE

SB608 (2019): statewide rent cap (7% + CPI) and just-cause for tenancies > 1 yr. Portland has relocation assistance ordinance.

Methodology + full state rankings →

ZIP-level market 97603

• Rents YoY: 3.8%
• Active inventory: 263
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,412 high
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,498/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $425

Break-even live

Break-even rent $874

Max offer price $99,900

Occupancy floor 65%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4195 Bristol Ct Klamath Falls, OR	2.0	1.0	1080	$1,350	$1.25	43d	1	0.29mi
3039 Kane St Klamath Falls, OR	3.0	2.0	988	$1,395	$1.41	43d	1	0.49mi
4519 Cannon Ave Apt 2 Klamath Falls, OR	2.0	1.0	850	$1,050	$1.24	43d	1	0.82mi
4519 Cannon Ave Unit 22 Klamath Falls, OR	2.0	1.0	850	$1,000	$1.18	43d	1	0.82mi
4831 Darwin Pl Klamath Falls, OR	3.0	1.0	1092	$1,475	$1.35	43d	1	0.83mi
4507 Cannon Ave Apt 52 Klamath Falls, OR	2.0	1.0	850	$1,000	$1.18	43d	1	0.84mi
2160 Arthur St Unit 5 Klamath Falls, OR	2.0	1.0	740	$995	$1.34	43d	1	1.42mi
2124 Arthur St Unit 24 Klamath Falls, OR	2.0	1.0	600	$1,000	$1.67	43d	1	1.46mi

Listing history 7 events

1. 2026-06-07
   statusdays on market $99,900 Pending 87 DOM
2. 2026-06-05
   days on market $99,900 Active 85 DOM
3. 2026-06-02
   days on market $99,900 Active 83 DOM
4. 2026-06-01
   days on market $99,900 Active 82 DOM
5. 2026-05-31
   days on market $99,900 Active 81 DOM
6. 2026-05-30
   days on market $99,900 Active 80 DOM
7. 2026-03-11
   listed $99,900 Active 901-char remark

   Show marketing remark (901 chars)

   This brand-new 3-bedroom, 2-bath manufactured home offers the perfect blend of modern style and comfortable living in the well-maintained Shasta Glen Mobile Home Park. The bright open floor plan creates a spacious and inviting atmosphere, enhanced by durable vinyl flooring throughout and stylish contemporary finishes that give the home a clean, modern feel. The thoughtfully designed layout includes a private primary suite featuring a walk-in closet and an ensuite bath, providing a relaxing retreat at the end of the day. The home also includes convenient washer and dryer hookups and a covered carport to help protect your vehicle from the elements. Everything in the home is brand new and comes with a warranty, offering added peace of mind and low-maintenance living. Move-in ready and beautifully finished, this home is a fantastic opportunity to enjoy modern comfort in a welcoming community.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥90°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 38 unhealthy d/yr today · 39 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,950
• − Mortgage interest: −$5,596
• − Property taxes: −$1,498
• − Insurance: −$500
• − Repairs & maintenance: −$1,356
• − Management: −$1,356
• − Depreciation: −$2,906
• Taxable income: $3,738
• Est. tax owed @ 24.0%: −$897
• After-tax cash flow: $4,209/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 12 photos

Good 85/100 None rehab

This brand-new 3-bedroom, 2-bath manufactured home in Shasta Glen Mobile Home Park is in excellent condition with modern finishes and a spacious floor plan. It offers a great blend of comfort and style, making it an ideal investment for both resale and rental markets.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Landscaping improvements — A well-maintained yard can increase both resale and rental value.
• Both Adding a small outdoor seating area — This can increase the home's appeal for both buyers and renters.
• Both Upgrading the kitchen appliances — Modern appliances can attract more buyers and renters.
• Both Adding a smart home system — This can increase the home's appeal and potentially increase its value over time.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — A well-maintained yard can increase both resale and rental value. ↑
• Both Adding a small outdoor seating area — This can increase the home's appeal for both buyers and renters. ↑
• Both Upgrading the kitchen appliances — Modern appliances can attract more buyers and renters. ↑
• Both Adding a smart home system — This can increase the home's appeal and potentially increase its value over time. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Klamath County SD
• NCES district ID: 4107020
• Math proficiency: 21% ▼ -17.00%
• Reading proficiency: 37% ▼ -16.00%
• Median HH income: $44,906
• Composite: 24.83/100
• National rank: #7593
• State rank: #46 of 58 in OR

Livability — Altamont

• Score: 65/100
• State rank: #195
• US rank: #12638

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment D Housing A+ Health & safety C- User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Altamont, OR
• County: Klamath County · 56,186 people
• Metro: Klamath Falls, OR
• Population (ZIP): 33,222
• Household income: $66,937
• Rent vs Own: 29.7% rent · 70.3% own
• Severe rent burden: 1147.0

Population outlook (Klamath County) Hauer SSP2

• Today (2025): 63,870 people
• By 2030: 62,279 · -2.5%
• By 2040: 58,891 · -7.8%
• By 2050: 56,207 · -12.0%
• By 2075: 51,239 · -19.8%
• By 2100: 46,526 · -27.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 15% Two or more races 13% Native American 2%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Portuguese 5% Italian 4% Lithuanian 3%
• Foreign-born: 4% · Canada, China
• Languages at home: 91% English-only · Spanish 7%

Political lean MEDSL · Klamath

• 2024 margin: Solid R (+41.9) · D 27.9% · R 69.8% · Other 2.4%
• 2008→2024 swing: -8.8pp toward R · 2008: -33.1pp · 2024: -41.9pp
• All cycles: 2024: R+41.9 2020: R+40.6 2016: R+44.8 2012: R+38.2 2008: R+33.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -122.75%
• Current HPI: 198.1814
• Rent YoY: ▲ 3.80%
• Metro: Klamath Falls, OR
• State GDP YoY: ▲ 2.05%
• F500 in state: 2

Industry mix (Fortune 500 HQ in OR)

Industry	F500 HQs	Revenue
▸Consumer Goods	1	$51B

Price history

1 event — show timeline

• 2026-03-11 Listed $99,900 MLSCO