510 E 4th St

Coquille, OR 97423

$299,000D-

4 bd · 1.0 ba · 1,500 sqft · Built 1951 · SingleFamily · Active · 92 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,917/mo
• Mortgage (P&I): −$1,568
• Tax + insurance: −$334
• HOA: −$0
• Vac / Maint / Mgmt: −$403
• Net cashflow: $-388/mo
• Annual: $-4,651/yr
• Cap rate: 4.74%
• Cash-on-cash: -5.55%
• DSCR: 0.75
• 1% rule: 0.64%
• Cash to close: $83,720

Investor read

• This is a 4-bed/1.0-bath single-family listed at $299k.
• At list price, monthly cash flow is $-388 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $231k (22.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $192k (35.9% below list).
• It's been on market 92 days — a 9% lower offer ($272k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $192k (35.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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: schools C-, 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.
• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• 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 $64k; list at $299k implies a 367% gain — meaningful room to come down on a strong offer.
• Cap rate 4.7% 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

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 92 days. Have you received any prior offers? Is the seller open to a 36% concession, seller financing, or rate buy-down credit?
• Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.