5602 Denver Ave Unit 4 · Altamont, OR 97603

$55,000

2 bd · 1.0 ba · 784 sqft · Manufactured public records · 2 Days on market

Built 1973 Est $85k · 36% under

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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 +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

Great opportunity for a quick flip, home has large bedrooms and in a quiet 55 and older community. Needs some quick repair and clean up. ANYONE CAN BUY CALL FOR DETAILS! (Buyer must be approved by park before closing. )

Key facts

• Fully remodeled
• Modern upgrades
• Ample closet space

Tags

• FULLY REMODELED
• MAINTENANCE-FREE LIVING
• MODERN UPGRADES
• OPEN-CONCEPT LAYOUT
• ABUNDANT NATURAL LIGHT
• AMPLE CLOSET SPACE

Property features AI

Finance

• Financial info: Monthly land lease of 500
• HOA & community: Senior community; CC&Rs apply

Exterior

• Parking: Detached carport; Driveway
• Security: Smoke detector(s); Carbon monoxide detector(s)
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Easements for utilities
• Home design: Mobile home (single wide) located in a park; One level; May remain in park; On leased land
• Construction: Built in 1973; Metal roof; Metal skirting; No basement listed
• Exterior features: Level lot; Paved road access; Double pane windows with vinyl frames; Smoke and carbon monoxide detectors

Interior

• Kitchen: Cooktop; Oven; Refrigerator; Laminate counters
• Bedrooms: 2 bedrooms
• Flooring: Simulated wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Electric, forced air, and natural gas heating
• Interior features: Laminate countertops; Tile shower; Gas fireplace in the living room; Cooktop, Oven, Refrigerator, Water heater
• Laundry & utility: Laundry area

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $55k.

Deal economics

• At list price, monthly cash flow is $595 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Cap rate 19.3% 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; 10 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 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 $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 24y 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 $15k; list at $55k implies a 267% gain — meaningful room to come down on a strong offer.

Recommended offer $55,000

Questions for the listing agent

1. Built in 1973 — 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. 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: 2.12% ✓
• Cap rate: 19.28%
• Cash-on-cash: 46.38%
• DSCR: 3.06
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $85,456
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5602 Denver Ave Unit 4	0.00mi	2/1.0	784 (0%)	2mo	$15,000	$19	98
5602 Denver #8	0.00mi	2/2.0	784 (0%)	10mo	$42,000	$54	88
4647 Winter Ave #50	0.52mi	3/2.0 (+1)	900 (+15%)	4mo	$96,500	$107	39
4647 Winter Ave Spc 82	0.50mi	3/2.0 (+1)	900 (+15%)	15mo	$98,000	$109	31
4647 Winter Ave Spc 88	0.50mi	3/2.0 (+1)	900 (+15%)	19mo	$104,900	$117	27
4647 Winter Ave Spc 15	0.50mi	3/2.0 (+1)	900 (+15%)	21mo	$102,900	$114	25

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: 44.5%
• Equity multiple: 2.94×
• Total profit: $29,924
• Equity at exit: $8,201

10-year hold

• IRR: 50.7%
• Equity multiple: 6.11×
• Total profit: $78,748
• Equity at exit: $4,755

Cash invested: $15,400 (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: 3.9×

Monthly cashflow live

• Estimated rent: $1,166 high
• Mortgage (P&I): −$288
• Tax from tax record: −$15 /mo · $175/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $595

Break-even live

Break-even rent $413

Max offer price $55,000

Occupancy floor 44%

Sensitivity live

Price	-10% $626	-5% $611	+0% $595	+5% $580	+10% $564
Rent	-10% $503	-5% $549	+0% $595	+5% $641	+10% $687
Rate	-1.0pp $623	-0.5pp $609	base $595	+0.5pp $581	+1.0pp $566

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3311 Madison St Klamath Falls, OR	1.0	1.0	700	$900	$1.29	44d	1	0.23mi
3039 Kane St Klamath Falls, OR	3.0	2.0	988	$1,395	$1.41	44d	1	0.35mi
4195 Bristol Ct Klamath Falls, OR	2.0	1.0	1080	$1,350	$1.25	44d	1	0.67mi
4500 Cannon Ave Unit 87 Klamath Falls, OR	1.0	1.0	550	$925	$1.68	44d	1	0.97mi
4519 Cannon Ave Unit 22 Klamath Falls, OR	2.0	1.0	850	$1,000	$1.18	44d	1	0.98mi
4519 Cannon Ave Apt 2 Klamath Falls, OR	2.0	1.0	850	$1,050	$1.24	44d	1	0.98mi
4507 Cannon Ave Apt 52 Klamath Falls, OR	2.0	1.0	850	$1,000	$1.18	44d	1	1.02mi
4507 Cannon Ave Unit 42 Klamath Falls, OR	1.0	1.0	550	$925	$1.68	44d	1	1.02mi
4831 Darwin Pl Klamath Falls, OR	3.0	1.0	1092	$1,475	$1.35	44d	1	1.22mi
1912 Dawn Ct Unit B Klamath Falls, OR	2.0	1.0	1027	$1,150	$1.12	44d	1	1.46mi

Listing history 3 events

1. 2026-06-19
   days on market $55,000 Active 2 DOM
2. 2026-06-17
   remarks 390-char remark
3. 2026-06-17
   listed $55,000 Active 1 DOM

ⓘ 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: $175 · $15/mo
• Projected year-2 tax: $534 · $44/mo
• Expected delta: +$358/yr (+$30/mo · 204.5%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥90°F today · 16 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: $13,991
• − Mortgage interest: −$3,081
• − Property taxes: −$175
• − Insurance: −$275
• − Repairs & maintenance: −$1,119
• − Management: −$1,119
• − Depreciation: −$1,600
• Taxable income: $6,622
• Est. tax owed @ 24.0%: −$1,589
• After-tax cash flow: $5,553/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

+340.0% since first listed

15 events — show timeline

• 2026-06-17 Listed $55,000 MLSCO
• 2026-04-20 Sold (MLS) $15,000 MLSCO
• 2026-04-14 Pending — MLSCO
• 2026-04-08 Relisted — MLSCO
• 2026-04-01 Pending — MLSCO
• 2026-03-20 Listed $29,999 MLSCO
• 2026-03-16 Listing Removed — MLSCO
• 2026-03-13 Listed $30,000 MLSCO
• 2008-06-20 Sold (MLS) $13,000 MLSCO
• 2008-06-18 Listed $13,000 MLSCO
• 2007-07-02 Sold (MLS) $12,000 MLSCO
• 2007-05-11 Listed $12,500 MLSCO
• 2002-10-22 Sold (Public Records) $12,000 Public Records
• 2002-10-22 Sold (MLS) $12,000 MLSCO
• 2002-10-09 Listed $12,500 MLSCO

Property tax history

+4.2%/yr

Latest (2025): $175 · +2.6% YoY. Source: county tax records.