618 W 15th St

Coquille, OR 97423

$160,000C

3 bd · 2.0 ba · 954 sqft · Built 1981 · SingleFamily · Pending · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,637/mo
• Mortgage (P&I): −$839
• Tax + insurance: −$248
• HOA: −$0
• Vac / Maint / Mgmt: −$344
• Net cashflow: $207/mo
• Annual: $2,478/yr
• Cap rate: 7.84%
• Cash-on-cash: 5.53%
• DSCR: 1.25
• 1% rule: 1.02%
• Cash to close: $44,800

Investor read

• This is a 3-bed/2.0-bath single-family listed at $160k.
• At list price, monthly cash flow is $207 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#123 in OR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: commute F, employment F.
• Coquille SD 8 (town): math 22% / reading 43% proficiency, ranked #37 of 58 in OR (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Coquille Valley Elementary (math 34% / reading 52%, grade F, #159 of 412 statewide, top 39%, 333 students, 66% FRL); Coquille Junior Senior High (math 22% / reading 42%, grade F, #105 of 143 statewide, top 73%, 366 students, 68% FRL) — zoned schools average 67% FRL vs 51% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 95 active listings in the ZIP; 122 units permitted in Coos County in 2024 (16 in 5+ unit buildings).
• Coos County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Current owner paid $8k; list at $160k implies a 1782% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.8% vs local median 3.2% in Coquille — 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.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.