4890 Weyerhaeuser Rd · Klamath Falls, OR 97601

$55,000

2 bd · 2.0 ba · 1,080 sqft · Manufactured public records · 101 Days on market

Built 1974 0.26 ac lot $51/sqft · 77% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Rent growth +3.3/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Calling all investors, builders, and visionaries! This unique property features two separate tax lots totaling . 26 acres of level, landscaped land. The existing 1974 manufactured home (2 bed, 1 bath) is ready for a complete transformation, or remove it and start fresh. Buyer to do their due diligence on whether the MH can be rehabbed or is best to demo.

Key facts

• 0.26 acre lot
• Parking
• Built 1974

Tags

• TWO SEPARATE TAX LOTS
• LEVEL LANDSCAPED LAND

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $55k.

Deal economics

• At list price, monthly cash flow is $680 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $50k (9.0% below list) — sets the bar for market timing.
• Cap rate 21.1% vs local median 3.4% in Klamath Falls — 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 78/100 on livability (#67 in OR, #2,703 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D-, crime F, employment F.
• Klamath Falls City Schools (town): math 26% / reading 40% proficiency, ranked #36 of 58 in OR (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.1%/yr); 493 active listings in the ZIP; 232 units permitted in Klamath County in 2024 (72 in 5+ unit buildings).
• This rent runs 30% of the median local income ($52k/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 $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 + 3.1% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($50k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y 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.

Risks & watch-outs

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

Recommended offer $50,050 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 2.36% ✓
• Cap rate: 21.13%
• Cash-on-cash: 53.00%
• DSCR: 3.36
• GRM: 3.5

CMA / ARV

• ARV (median comp): $239,000
• List price: $55,000
• Delta: -76.99%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.12% rent growth · sell at horizon

5-year hold

• IRR: 51.2%
• Equity multiple: 3.24×
• Total profit: $34,565
• Equity at exit: $8,201

10-year hold

• IRR: 56.6%
• Equity multiple: 6.62×
• Total profit: $86,526
• 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 97601

• Home prices YoY: -3.7%
• Rents YoY: 3.1%
• Active inventory: 493
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,301 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$36 /mo · $433/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $680

Break-even live

Break-even rent $440

Max offer price $55,000

Occupancy floor 43%

Sensitivity live

Price	-10% $711	-5% $696	+0% $680	+5% $665	+10% $649
Rent	-10% $577	-5% $629	+0% $680	+5% $732	+10% $783
Rate	-1.0pp $708	-0.5pp $694	base $680	+0.5pp $666	+1.0pp $651

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: —

Listing history 27 events

1. 2026-06-19
   days on market $55,000 Active 101 DOM
2. 2026-06-18
   days on market $55,000 Active 100 DOM
3. 2026-06-17
   days on market $55,000 Active 99 DOM
4. 2026-06-16
   days on market $55,000 Active 98 DOM
5. 2026-06-15
   days on market $55,000 Active 97 DOM
6. 2026-06-14
   days on market $55,000 Active 95 DOM
7. 2026-06-12
   days on market $55,000 Active 94 DOM
8. 2026-06-09
   days on market $55,000 Active 91 DOM
9. 2026-06-08
   days on market $55,000 Active 90 DOM
10. 2026-06-07
    days on market $55,000 Active 89 DOM
11. 2026-06-05
    days on market $55,000 Active 86 DOM
12. 2026-06-03
    days on market $55,000 Active 85 DOM
13. 2026-06-02
    days on market $55,000 Active 84 DOM
14. 2026-06-01
    days on market $55,000 Active 83 DOM
15. 2026-05-31
    days on market $55,000 Active 82 DOM
16. 2026-05-30
    days on market $55,000 Active 81 DOM
17. 2026-03-09
    listed $55,000 Active 356-char remark

    Show marketing remark (356 chars)

    Calling all investors, builders, and visionaries! This unique property features two separate tax lots totaling . 26 acres of level, landscaped land. The existing 1974 manufactured home (2 bed, 1 bath) is ready for a complete transformation, or remove it and start fresh. Buyer to do their due diligence on whether the MH can be rehabbed or is best to demo.

18. 2022-04-01
    soldstatus $65,000 Closed 171-char remark

    Show marketing remark (171 chars)

    Possible remodel or tear down on a little over 1/4 of an acre. Corner lot and a separate lot behind. Owner may carry with right terms. Buyer to do their own due diligence.

19. 2022-03-18
    status Pending 171-char remark

    Show marketing remark (171 chars)

    Possible remodel or tear down on a little over 1/4 of an acre. Corner lot and a separate lot behind. Owner may carry with right terms. Buyer to do their own due diligence.

20. 2022-02-25
    listed $65,000 Active 171-char remark

    Show marketing remark (171 chars)

    Possible remodel or tear down on a little over 1/4 of an acre. Corner lot and a separate lot behind. Owner may carry with right terms. Buyer to do their own due diligence.

21. 2021-09-13
    historical
22. 2021-06-14
    price $80,000
23. 2021-04-29
    listed $100,000 Active
24. 2013-10-08
    soldstatus $55,000
25. 2013-10-08
    soldstatus $55,100
26. 2013-03-05
    listed $55,000
27. 2000-12-14
    soldstatus $27,500

ⓘ 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: $433 · $36/mo
• Projected year-2 tax: $534 · $44/mo
• Expected delta: +$101/yr (+$8/mo · 23.3%)

ⓘ 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 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥91°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 29 unhealthy d/yr today · 31 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,609
• − Mortgage interest: −$3,081
• − Property taxes: −$433
• − Insurance: −$275
• − Repairs & maintenance: −$1,249
• − Management: −$1,249
• − Depreciation: −$1,600
• Taxable income: $7,723
• Est. tax owed @ 24.0%: −$1,853
• After-tax cash flow: $6,309/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 Falls City Schools
• NCES district ID: 4107080
• Math proficiency: 26% ▼ -6.00%
• Reading proficiency: 40% ▼ -3.00%
• Median HH income: $34,329
• Composite: 27.14/100
• National rank: #7033
• State rank: #36 of 58 in OR

Livability — Klamath Falls

• Score: 78/100
• State rank: #67
• US rank: #2703

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Klamath County · 56,186 people
• City population: 56,186
• Metro: Klamath Falls, OR
• Population (ZIP): 22,964
• Household income: $51,780
• Rent vs Own: 40.0% rent · 60.0% own
• Severe rent burden: 1323.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 12% Two or more races 10% Native American 3% Asian 2%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Lithuanian 4% Slovak 3% Portuguese 2%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 6%

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: ▼ -14.37%
• Current HPI: 372.5418
• Rent YoY: ▲ 3.12%
• 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

+100.0% since first listed

11 events — show timeline

• 2026-03-09 Listed $55,000 MLSCO
• 2022-04-01 Sold (MLS) $65,000 MLSCO
• 2022-03-18 Pending — MLSCO
• 2022-02-25 Listed $65,000 MLSCO
• 2021-09-13 Listing Removed — MLSCO
• 2021-06-14 Price Changed $80,000 MLSCO
• 2021-04-29 Listed $100,000 MLSCO
• 2013-10-08 Sold (Public Records) $55,100 Public Records
• 2013-10-08 Sold (MLS) $55,000 MLSCO
• 2013-03-05 Listed $55,000 MLSCO
• 2000-12-14 Sold (Public Records) $27,500 Public Records

Property tax history

+3.8%/yr

Latest (2025): $433 · +1.9% YoY. Source: county tax records.