65851 N Bay Rd

Glasgow, OR 97459

$334,000D

2 bd · 1.0 ba · 1,280 sqft · Built 1945 · SingleFamily · Active · 65 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,503/mo
• Mortgage (P&I): −$1,752
• Tax + insurance: −$226
• HOA: −$0
• Vac / Maint / Mgmt: −$316
• Net cashflow: $-790/mo
• Annual: $-9,484/yr
• Cap rate: 3.45%
• Cash-on-cash: -10.14%
• DSCR: 0.55
• 1% rule: 0.45%
• Cash to close: $93,520

Investor read

• This is a 2-bed/1.0-bath single-family listed at $334k.
• At list price, monthly cash flow is $-790 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $194k (41.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $150k (55.0% below list).
• It's been on market 65 days — a 6% lower offer ($314k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $150k (55.0% below list) — sets the bar for 1% rule.
• In year one you build about $36k of equity ($2k loan paydown + $33k appreciation (10.0% local appreciation)).
• Location reads 59/100 on livability (#301 in OR) — a working-class tenant base; expect higher turnover. Strengths: employment A+, housing A; Watch: health & safety C-, cost of living D, schools F.
• North Bend SD 13 (town): math 30% / reading 47% proficiency, ranked #21 of 58 in OR (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 170 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.
• 4 sale attempts since 7y ago; this cycle's ask has dropped $41k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• By year 2, paydown + projected appreciation supports a ~$57k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 65 days. Have you received any prior offers? Is the seller open to a 55% concession, seller financing, or rate buy-down credit?
• Built in 1945 — 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.
• 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?
• 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.