4200 Summers Ln #52 · Altamont, OR 97603

$89,500

3 bd · 2.0 ba · 1,296 sqft · Manufactured public records · 23 Days on market

Built 2007 $69/sqft · 10% below area Est $99k · 10% under $451/mo HOA · 25% of rent

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Why this score? — see what drove the B 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
• ARV discount +11.9/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.5/5.0
• Livability +3.2/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Ready For New Owner-2007 Year Built * Open Floor Plan with Large Living Room * 3 Nice Bedrooms 2 Bathrooms * Open Kitchen with Island Includes Appliances * F/A Electric Heat * Window A/C * Carport & Paved Patio Area * Adjacent to Bonus Parking Area * Large Utility Building * No Maintenance Yard * Extra Parking Across the Street * RV Parking Maybe Available Too * Club House Activities * Monthly Park Rent $451.00 Includes Water, Sewer, Garbage & Snow Removal * See Park Manager Kevin for Required Park Approval * Great 55+Park-Alpine Meadows * Home Inspection on File for Buyers Review.

Key facts

• Paved patio area
• Bonus parking area
• Open floor plan

Tags

• OPEN FLOOR PLAN
• LARGE LIVING ROOM
• OPEN KITCHEN WITH ISLAND
• CARPORT
• PAVED PATIO AREA
• BONUS PARKING AREA

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $90k.

Deal economics

• At list price, monthly cash flow is $441 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $88k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.2% 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; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d 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).
• This rent runs 33% of the median local income ($67k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $619 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 $25k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 25y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $20k; list at $90k implies a 359% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $88,157 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 2.05% ✓
• Cap rate: 12.21%
• Cash-on-cash: 21.12%
• DSCR: 1.94
• GRM: 4.1

CMA / ARV

• ARV (median comp): $99,278
• List price: $89,500
• Delta: -9.85%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4200 Summers Ln #52	0.00mi	3/2.0	1,296 (0%)	1mo	$89,500	$69	100
4200 Summers Ln Unit 23	0.00mi	2/2.0 (-1)	1,293 (-0%)	0mo	$95,000	$73	94
4200 Summers Ln Unit 25	0.00mi	3/2.0	1,323 (+2%)	7mo	$107,000	$81	91
4200 Summers Ln Unit 69	0.00mi	2/2.0 (-1)	1,188 (-8%)	0mo	$72,500	$61	81
4200 Summers Ln Unit 10	0.00mi	2/2.0 (-1)	1,109 (-14%)	5mo	$75,000	$68	67
4647 Winter Ave Spc 55	0.63mi	3/2.0	1,260 (-3%)	9mo	$79,000	$63	59
3922 Austin St	0.54mi	3/2.0	1,404 (+8%)	6mo	$260,000	$185	56
4647 Winter Ave #78	0.63mi	3/2.0	1,173 (-10%)	3mo	$125,000	$107	53
4647 Winter Ave #92	0.61mi	3/2.0	1,173 (-10%)	5mo	$123,000	$105	52
4647 Winter Ave Spc 53	0.61mi	3/2.0	1,173 (-10%)	8mo	$130,000	$111	49
4647 Winter Ave Spc 65	0.63mi	3/2.0	1,144 (-12%)	6mo	$113,000	$99	46
3131 Bisbee St	0.74mi	3/2.0	1,144 (-12%)	2mo	$261,000	$228	44

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: 15.0%
• Equity multiple: 1.61×
• Total profit: $15,347
• Equity at exit: $13,345

10-year hold

• IRR: 24.7%
• Equity multiple: 3.27×
• Total profit: $56,834
• Equity at exit: $7,738

Cash invested: $25,060 (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: 4.1×

Monthly cashflow live

• Estimated rent: $1,835 high
• Mortgage (P&I): −$469
• Tax from tax record: −$51 /mo · $610/yr
• Insurance: −$37
• HOA: −$451
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $441

Break-even live

Break-even rent $1,277

Max offer price $89,500

Occupancy floor 71%

Sensitivity live

Price	-10% $492	-5% $466	+0% $441	+5% $416	+10% $390
Rent	-10% $296	-5% $369	+0% $441	+5% $514	+10% $586
Rate	-1.0pp $486	-0.5pp $464	base $441	+0.5pp $418	+1.0pp $394

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: $22,375
• Closing costs: $2,685
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3823 Kelley Dr Klamath Falls, OR	3.0	3.0	1600	$2,000	$1.25	44d	1	0.18mi
4306 Fargo St Klamath Falls, OR	3.0	2.0	1288	$1,850	$1.44	44d	1	0.23mi
4305 Altamont Dr Klamath Falls, OR	4.0	2.0	1712	$2,300	$1.34	44d	1	0.31mi
4831 Darwin Pl Klamath Falls, OR	3.0	1.0	1092	$1,475	$1.35	44d	1	0.33mi
4195 Bristol Ct Klamath Falls, OR	2.0	1.0	1080	$1,350	$1.25	44d	1	0.47mi
3039 Kane St Klamath Falls, OR	3.0	2.0	988	$1,395	$1.41	44d	1	1.14mi

HOA detail

• Monthly dues: $451 · $5,412/yr
• Likely covers: watersewertrashelectricsnow removal

Listing history 6 events

1. 2026-05-06
   status Pending 600-char remark

   Show marketing remark (600 chars)

   Ready For New Owner-2007 Year Built * Open Floor Plan with Large Living Room * 3 Nice Bedrooms 2 Bathrooms * Open Kitchen with Island Includes Appliances * F/A Electric Heat * Window A/C * Carport & Paved Patio Area * Adjacent to Bonus Parking Area * Large Utility Building * No Maintenance Yard * Extra Parking Across the Street * RV Parking Maybe Available Too * Club House Activities * Monthly Park Rent $451.00 Includes Water, Sewer, Garbage & Snow Removal * See Park Manager Kevin for Required Park Approval * Great 55+Park-Alpine Meadows * Home Inspection on File for Buyers Review.

2. 2026-04-13
   listed $89,500 Active 600-char remark

   Show marketing remark (600 chars)

   Ready For New Owner-2007 Year Built * Open Floor Plan with Large Living Room * 3 Nice Bedrooms 2 Bathrooms * Open Kitchen with Island Includes Appliances * F/A Electric Heat * Window A/C * Carport & Paved Patio Area * Adjacent to Bonus Parking Area * Large Utility Building * No Maintenance Yard * Extra Parking Across the Street * RV Parking Maybe Available Too * Club House Activities * Monthly Park Rent $451.00 Includes Water, Sewer, Garbage & Snow Removal * See Park Manager Kevin for Required Park Approval * Great 55+Park-Alpine Meadows * Home Inspection on File for Buyers Review.

3. 2004-11-25
   soldstatus $19,500 228-char remark

   Show marketing remark (228 chars)

   Just Painted On The O/S. New Carpet In The Liv. Rm. Cute As A Button. All Appliances Remain. Including Washer & Dryer. Space Rent $265.00 Incl. Water, Garbage, & And Sewer. Family Park. Buyer Must Be Approved By Park.

4. 2004-09-02
   listed $19,900 228-char remark

   Show marketing remark (228 chars)

   Just Painted On The O/S. New Carpet In The Liv. Rm. Cute As A Button. All Appliances Remain. Including Washer & Dryer. Space Rent $265.00 Incl. Water, Garbage, & And Sewer. Family Park. Buyer Must Be Approved By Park.

5. 2001-11-15
   soldstatus $19,900
6. 2001-08-11
   listed $19,900

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

Tax reassessment forecast OR · Resets to sale price

• Current annual tax: $610 · $51/mo
• Projected year-2 tax: $868 · $72/mo
• Expected delta: +$258/yr (+$22/mo · 42.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X · 10% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 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: $22,019
• − Mortgage interest: −$5,013
• − Property taxes: −$610
• − Insurance: −$448
• − Repairs & maintenance: −$1,762
• − Management: −$1,762
• − HOA: −$5,412
• − Depreciation: −$2,604
• Taxable income: $4,409
• Est. tax owed @ 24.0%: −$1,058
• After-tax cash flow: $4,235/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.

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

+349.7% since first listed

6 events — show timeline

• 2026-05-06 Pending — MLSCO
• 2026-04-13 Listed $89,500 MLSCO
• 2004-11-25 Sold (MLS) $19,500 MLSCO
• 2004-09-02 Listed $19,900 MLSCO
• 2001-11-15 Sold (MLS) $19,900 MLSCO
• 2001-08-11 Listed $19,900 MLSCO

Property tax history

+3.2%/yr

Latest (2025): $610 · +2.7% YoY. Source: county tax records.