150266 Midstate Rd · La Pine, OR 97739

$145,000

2 bd · 1.0 ba · 672 sqft · Other public records · 14 Days on market

Built 1969 2.12 ac lot

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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 +21.7/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +5.7/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for the perfect hunting or camping getaway? This 2.12-acre property is ready for adventure! Featuring a well-maintained, FULLY FURNISHED 2 bed, 1 bath mobile home with a window air conditioning unit and a protective metal roof cover, plus a covered 1967 camp trailer for extra space. Improvements include a newer well (2012), septic system (2015), and a brand-new water heater (2024). The property also offers a functional outhouse (with a real toilet!!) with both 110 & 220 electric and a dryer, along with a shed (with electricity) and additional storage. Bring your family, RVs, and toys to enjoy all that Central Oregon has to offer--or escape to your own private retreat!

Key facts

• Newer well
• 2.12-acre property
• Septic system

Tags

• 2.12-ACRE PROPERTY
• FULLY FURNISHED MOBILE HOME
• PROTECTIVE METAL ROOF COVER
• NEWER WELL
• SEPTIC SYSTEM
• BRAND-NEW WATER HEATER

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $145k.

Deal economics

• At list price, monthly cash flow is $224 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Cap rate 8.1% vs local median 2.9% in La Pine — 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 59/100 on livability (#300 in OR) — a working-class tenant base; expect higher turnover. Strengths: crime A; Watch: health & safety C-, schools F, amenities 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: 82 active listings in the ZIP; 232 units permitted in Klamath County in 2024 (72 in 5+ unit buildings).
• This rent runs 32% of the median local income ($59k/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 $1k of loan paydown is wiped out by about $4k 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.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $145,000

Questions for the listing agent

1. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.07% ✓
• Cap rate: 8.15%
• Cash-on-cash: 6.63%
• DSCR: 1.29
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -6.1%
• Equity multiple: 0.77×
• Total profit: $-9,193
• Equity at exit: $21,620

10-year hold

• IRR: 3.6%
• Equity multiple: 1.26×
• Total profit: $10,477
• Equity at exit: $12,537

Cash invested: $40,600 (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 97739

• Home prices YoY: -4.5%
• Active inventory: 82
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,552 medium
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,175/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $224

Break-even live

Break-even rent $1,268

Max offer price $145,000

Occupancy floor 81%

Sensitivity live

Price	-10% $324	-5% $274	+0% $224	+5% $174	+10% $124
Rent	-10% $102	-5% $163	+0% $224	+5% $286	+10% $347
Rate	-1.0pp $297	-0.5pp $261	base $224	+0.5pp $187	+1.0pp $148

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-04
   status Pending 696-char remark

   Show marketing remark (696 chars)

   Looking for the perfect hunting or camping getaway? This 2.12-acre property is ready for adventure! Featuring a well-maintained, FULLY FURNISHED 2 bed, 1 bath mobile home with a window air conditioning unit and a protective metal roof cover, plus a covered 1967 camp trailer for extra space. Improvements include a newer well (2012), septic system (2015), and a brand-new water heater (2024). The property also offers a functional outhouse (with a real toilet!!) with both 110 & 220 electric and a dryer, along with a shed (with electricity) and additional storage. Bring your family, RVs, and toys to enjoy all that Central Oregon has to offer--or escape to your own private retreat!

2. 2026-04-20
   listed $145,000 Active 696-char remark

   Show marketing remark (696 chars)

   Looking for the perfect hunting or camping getaway? This 2.12-acre property is ready for adventure! Featuring a well-maintained, FULLY FURNISHED 2 bed, 1 bath mobile home with a window air conditioning unit and a protective metal roof cover, plus a covered 1967 camp trailer for extra space. Improvements include a newer well (2012), septic system (2015), and a brand-new water heater (2024). The property also offers a functional outhouse (with a real toilet!!) with both 110 & 220 electric and a dryer, along with a shed (with electricity) and additional storage. Bring your family, RVs, and toys to enjoy all that Central Oregon has to offer--or escape to your own private retreat!

ⓘ 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 6/10 Major
• 🌡 Heat 2/10 Low 6 d/yr ≥90°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 13 unhealthy d/yr today · 19 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,627
• − Mortgage interest: −$8,122
• − Property taxes: −$2,175
• − Insurance: −$725
• − Repairs & maintenance: −$1,490
• − Management: −$1,490
• − Depreciation: −$4,218
• Taxable income: $406
• Est. tax owed @ 24.0%: −$97
• After-tax cash flow: $2,593/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 — La Pine

• Score: 59/100
• State rank: #300
• US rank: #20040

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Deschutes County · 197,892 people
• City population: 13,183
• Metro: Bend, OR
• Population (ZIP): 13,183
• Household income: $58,579
• Rent vs Own: 18.3% rent · 81.7% own
• Severe rent burden: 426.0

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 (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Portuguese 4% Italian 2% Iranian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -27.28%
• Current HPI: 585.9229
• Rent YoY: —
• Metro: Bend, 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

2 events — show timeline

• 2026-05-04 Pending — MLSCO
• 2026-04-20 Listed $145,000 MLSCO

Property tax history

+6.2%/yr

Latest (2025): $64 · +2.6% YoY. Source: county tax records.