5442 Shasta Way #13 · Altamont, OR 97603

$79,800

3 bd · 1.5 ba · 764 sqft · Manufactured public records · 83 Days on market

Built 1971 $104/sqft · 20% below area Est $100k · 20% under $235/mo HOA · 18% 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 +28.4/30.0
• ARV discount +15.0/15.0
• 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

Beautifully Updated Home in Desirable 55+ Park Move right into this fully refreshed manufactured home located in a quiet and well-maintained 55+ park. This home has been thoughtfully updated throughout, featuring new windows and doors that bring in abundant natural light and improve energy efficiency. Enjoy peace of mind with updated electrical and plumbing systems, along with a brand-new heating and cooling system for year-round comfort. The interior has all new flooring and fresh paint inside and out, giving the home a clean, modern BRIGHT feel. Both bathrooms have been tastefully updated, offering stylish finishes and functionality. Two pop-outs provide additional living space, making the home feel open and roomy. Outside, you'll find two storage sheds for all your tools and extras, plus a convenient carport for covered parking. This is a rare opportunity to own a turn-key home with extensive upgrades in a welcoming community. Seller will offer 1 year warranty with acceptable offer.

Key facts

• Fresh paint
• New flooring
• Updated bathrooms

Tags

• NEW HEATING AND COOLING SYSTEM
• NEW WINDOWS AND DOORS
• NEW FLOORING
• FRESH PAINT
• UPDATED BATHROOMS
• TWO STORAGE SHEDS

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath manufactured listed at $80k.

Deal economics

• At list price, monthly cash flow is $257 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.2% 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; 11 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 $552 of loan paydown is wiped out by about $2k 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 $22k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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 $18k; list at $80k implies a 356% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $75,012 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.66% ✓
• Cap rate: 10.16%
• Cash-on-cash: 13.82%
• DSCR: 1.61
• GRM: 5.0

CMA / ARV

• ARV (median comp): $100,000
• List price: $79,800
• Delta: -20.20%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1647 Hope St	0.47mi	2/1.0 (-1)	704 (-8%)	2mo	$100,000	$142	56
4741 S 6th St Unit 8	0.54mi	2/1.0 (-1)	798 (+4%)	7mo	$37,000	$46	54
5511 Edith Way	0.26mi	2/2.0 (-1)	865 (+13%)	5mo	$256,500	$297	54

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: 5.3%
• Equity multiple: 1.21×
• Total profit: $4,693
• Equity at exit: $11,898

10-year hold

• IRR: 15.8%
• Equity multiple: 2.36×
• Total profit: $30,327
• Equity at exit: $6,900

Cash invested: $22,344 (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: 5.0×

Monthly cashflow live

• Estimated rent: $1,321 high
• Mortgage (P&I): −$418
• Tax est. 1.5%: −$100 /mo · $1,197/yr
• Insurance: −$33
• HOA: −$235
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $257

Break-even live

Break-even rent $996

Max offer price $79,800

Occupancy floor 76%

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: $19,950
• Closing costs: $2,394
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4519 Cannon Ave Apt 2 Klamath Falls, OR	2.0	1.0	850	$1,050	$1.24	44d	1	0.87mi
4519 Cannon Ave Unit 22 Klamath Falls, OR	2.0	1.0	850	$1,000	$1.18	44d	1	0.87mi
1222 Summers Ln Unit 1222 Klamath Falls, OR	2.0	1.0	950	$1,450	$1.53	44d	1	0.87mi
4507 Cannon Ave Apt 52 Klamath Falls, OR	2.0	1.0	850	$1,000	$1.18	44d	1	0.89mi
1912 Dawn Ct Unit B Klamath Falls, OR	2.0	1.0	1027	$1,150	$1.12	44d	1	0.91mi
1616 Dayton St Klamath Falls, OR	2.0	1.0	732	$1,400	$1.91	44d	1	1.01mi
3039 Kane St Klamath Falls, OR	3.0	2.0	988	$1,395	$1.41	44d	1	1.10mi
1400 Arthur St Klamath Falls, OR	2.0	1.5	950	$1,275	$1.34	44d	3	1.40mi
3124 Sunset Ct Klamath Falls, OR	2.0	1.0	1091	$1,495	$1.37	44d	1	1.45mi
2160 Arthur St Unit 5 Klamath Falls, OR	2.0	1.0	740	$995	$1.34	44d	1	1.45mi
2124 Arthur St Unit 24 Klamath Falls, OR	2.0	1.0	600	$1,000	$1.67	44d	1	1.47mi

HOA detail

• Monthly dues: $235 · $2,820/yr
• Likely covers: electric

Listing history 26 events

1. 2026-06-19
   days on market $79,800 Active 83 DOM
2. 2026-06-18
   days on market $79,800 Active 82 DOM
3. 2026-06-17
   days on market $79,800 Active 81 DOM
4. 2026-06-16
   days on market $79,800 Active 80 DOM
5. 2026-06-15
   days on market $79,800 Active 79 DOM
6. 2026-06-14
   days on market $79,800 Active 77 DOM
7. 2026-06-12
   days on market $79,800 Active 76 DOM
8. 2026-06-09
   days on market $79,800 Active 73 DOM
9. 2026-06-08
   days on market $79,800 Active 72 DOM
10. 2026-06-07
    days on market $79,800 Active 71 DOM
11. 2026-06-05
    days on market $79,800 Active 68 DOM
12. 2026-06-02
    days on market $79,800 Active 66 DOM
13. 2026-06-01
    days on market $79,800 Active 65 DOM
14. 2026-05-31
    days on market $79,800 Active 64 DOM
15. 2026-05-30
    days on market $79,800 Active 63 DOM
16. 2026-04-15
    status Active 1000-char remark

    Show marketing remark (1000 chars)

    Beautifully Updated Home in Desirable 55+ Park Move right into this fully refreshed manufactured home located in a quiet and well-maintained 55+ park. This home has been thoughtfully updated throughout, featuring new windows and doors that bring in abundant natural light and improve energy efficiency. Enjoy peace of mind with updated electrical and plumbing systems, along with a brand-new heating and cooling system for year-round comfort. The interior has all new flooring and fresh paint inside and out, giving the home a clean, modern BRIGHT feel. Both bathrooms have been tastefully updated, offering stylish finishes and functionality. Two pop-outs provide additional living space, making the home feel open and roomy. Outside, you'll find two storage sheds for all your tools and extras, plus a convenient carport for covered parking. This is a rare opportunity to own a turn-key home with extensive upgrades in a welcoming community. Seller will offer 1 year warranty with acceptable offer.

17. 2026-04-15
    price $79,800 1000-char remark

    Show marketing remark (1000 chars)

    Beautifully Updated Home in Desirable 55+ Park Move right into this fully refreshed manufactured home located in a quiet and well-maintained 55+ park. This home has been thoughtfully updated throughout, featuring new windows and doors that bring in abundant natural light and improve energy efficiency. Enjoy peace of mind with updated electrical and plumbing systems, along with a brand-new heating and cooling system for year-round comfort. The interior has all new flooring and fresh paint inside and out, giving the home a clean, modern BRIGHT feel. Both bathrooms have been tastefully updated, offering stylish finishes and functionality. Two pop-outs provide additional living space, making the home feel open and roomy. Outside, you'll find two storage sheds for all your tools and extras, plus a convenient carport for covered parking. This is a rare opportunity to own a turn-key home with extensive upgrades in a welcoming community. Seller will offer 1 year warranty with acceptable offer.

18. 2026-04-06
    status Pending 1000-char remark

    Show marketing remark (1000 chars)

    Beautifully Updated Home in Desirable 55+ Park Move right into this fully refreshed manufactured home located in a quiet and well-maintained 55+ park. This home has been thoughtfully updated throughout, featuring new windows and doors that bring in abundant natural light and improve energy efficiency. Enjoy peace of mind with updated electrical and plumbing systems, along with a brand-new heating and cooling system for year-round comfort. The interior has all new flooring and fresh paint inside and out, giving the home a clean, modern BRIGHT feel. Both bathrooms have been tastefully updated, offering stylish finishes and functionality. Two pop-outs provide additional living space, making the home feel open and roomy. Outside, you'll find two storage sheds for all your tools and extras, plus a convenient carport for covered parking. This is a rare opportunity to own a turn-key home with extensive upgrades in a welcoming community. Seller will offer 1 year warranty with acceptable offer.

19. 2026-03-20
    listed $83,590 Active 1000-char remark

    Show marketing remark (1000 chars)

    Beautifully Updated Home in Desirable 55+ Park Move right into this fully refreshed manufactured home located in a quiet and well-maintained 55+ park. This home has been thoughtfully updated throughout, featuring new windows and doors that bring in abundant natural light and improve energy efficiency. Enjoy peace of mind with updated electrical and plumbing systems, along with a brand-new heating and cooling system for year-round comfort. The interior has all new flooring and fresh paint inside and out, giving the home a clean, modern BRIGHT feel. Both bathrooms have been tastefully updated, offering stylish finishes and functionality. Two pop-outs provide additional living space, making the home feel open and roomy. Outside, you'll find two storage sheds for all your tools and extras, plus a convenient carport for covered parking. This is a rare opportunity to own a turn-key home with extensive upgrades in a welcoming community. Seller will offer 1 year warranty with acceptable offer.

20. 2025-01-27
    soldstatus $17,500 Closed 288-char remark

    Show marketing remark (288 chars)

    This quaint home is located in a 55 & older park in the central area of Klamath Falls. The space rent is $235/month & includes water and sewer. Enjoy the split floor plan and all appliances are included, with a fenced yard & storage sheds out back. Call to see it today!

21. 2025-01-18
    status Pending 288-char remark

    Show marketing remark (288 chars)

    This quaint home is located in a 55 & older park in the central area of Klamath Falls. The space rent is $235/month & includes water and sewer. Enjoy the split floor plan and all appliances are included, with a fenced yard & storage sheds out back. Call to see it today!

22. 2025-01-08
    price $35,000 288-char remark

    Show marketing remark (288 chars)

    This quaint home is located in a 55 & older park in the central area of Klamath Falls. The space rent is $235/month & includes water and sewer. Enjoy the split floor plan and all appliances are included, with a fenced yard & storage sheds out back. Call to see it today!

23. 2024-12-18
    status Active 288-char remark

    Show marketing remark (288 chars)

    This quaint home is located in a 55 & older park in the central area of Klamath Falls. The space rent is $235/month & includes water and sewer. Enjoy the split floor plan and all appliances are included, with a fenced yard & storage sheds out back. Call to see it today!

24. 2024-12-10
    status Pending 288-char remark

    Show marketing remark (288 chars)

    This quaint home is located in a 55 & older park in the central area of Klamath Falls. The space rent is $235/month & includes water and sewer. Enjoy the split floor plan and all appliances are included, with a fenced yard & storage sheds out back. Call to see it today!

25. 2024-11-27
    listed $39,900 Active 288-char remark

    Show marketing remark (288 chars)

    This quaint home is located in a 55 & older park in the central area of Klamath Falls. The space rent is $235/month & includes water and sewer. Enjoy the split floor plan and all appliances are included, with a fenced yard & storage sheds out back. Call to see it today!

26. 2004-01-16
    soldstatus $10,500

ⓘ 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 0% chance over 30 yrs
• 🔥 Wildfire 6/10 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: $15,855
• − Mortgage interest: −$4,470
• − Property taxes: −$1,197
• − Insurance: −$399
• − Repairs & maintenance: −$1,268
• − Management: −$1,268
• − HOA: −$2,820
• − Depreciation: −$2,321
• Taxable income: $2,111
• Est. tax owed @ 24.0%: −$507
• After-tax cash flow: $2,581/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

+660.0% since first listed

11 events — show timeline

• 2026-04-15 Relisted — MLSCO
• 2026-04-15 Price Changed $79,800 MLSCO
• 2026-04-06 Pending — MLSCO
• 2026-03-20 Listed $83,590 MLSCO
• 2025-01-27 Sold (MLS) $17,500 MLSCO
• 2025-01-18 Pending — MLSCO
• 2025-01-08 Price Changed $35,000 MLSCO
• 2024-12-18 Relisted — MLSCO
• 2024-12-10 Pending — MLSCO
• 2024-11-27 Listed $39,900 MLSCO
• 2004-01-16 Sold (Public Records) $10,500 Public Records

Property tax history

+5.3%/yr

Latest (2025): $154 · +2.6% YoY. Source: county tax records.