12759 Golden Eagle Ln · Bonanza, OR 97623

$255,000

1 bd · 1.0 ba · 1,920 sqft · SingleFamily public records · 144 Days on market

Built 1987 2.24 ac lot $133/sqft · 16% below area Est $372k · 32% under $17/mo HOA · 2% of rent ↓ 7% since listing

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Why this score? — see what drove the D- 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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Livability +3.1/5.0
• Cash flow +3.0/30.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Welcome To ''The Eagle's Nest''! One-of-a-kind mountain home where craftsmanship & nature converge on 2.24 serene acres. This isn't a flip- it's a genuine love letter! Licensed contractor-owner spent 2024-25 rebuilding every system: new 200-amp service, complete PEX plumbing, modern septic, 2500-gal cistern, new pump house. Inside, prepare to be moved: stunning live-edge juniper countertop with epoxy river inlays (coffee beans, obsidian, lava flow), custom Lichtenberg-burned trim, 3-tier bar-all materials harvested on-property. New stainless kitchen (Aug '24), new W/ D, soaking tub with forest views, luxury vinyl plank throughout. 3BR, 1BA, 2368 SF of peaceful living. Minutes to Gerber Reservoir & Sprague River fishing & 30 minutes to Klamath Falls Metro Area. Horse-ready acreage, gentle topography, ponderosa-studded privacy. Most furnishings included- Short Term Rental (Airbnb) or Your New Personal Getaway? Either Way: Move-in ready for your next chapter!

Key facts

• Luxury vinyl plank
• Epoxy river inlays
• 2.24 acre lot

Tags

• LIVE-EDGE JUNIPER COUNTERTOP
• EPOXY RIVER INLAYS
• CUSTOM LICHTENBERG-BURNED TRIM
• NEW STAINLESS KITCHEN
• SOAKING TUB WITH FOREST VIEWS
• LUXURY VINYL PLANK

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $255k.

Deal economics

• At list price, monthly cash flow is $-826 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $109k (57.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $103k (59.5% below list).
• Recommended offer: $103k (59.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#254 in OR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety C-, amenities F, commute 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.
• Zoned schools: Bonanza Elementary School (math 15% / reading 15%, grade F, #392 of 412 statewide, top 96%, 233 students, 73% FRL); Bonanza Junior/Senior High School (math 17% / reading 37%, grade F, #115 of 143 statewide, top 82%, 221 students, 75% FRL) — zoned schools average 74% FRL vs 59% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 123 active listings in the ZIP; 232 units permitted in Klamath County in 2024 (72 in 5+ unit buildings).

Forward outlook

• In year one you build about $27k of equity ($2k loan paydown + $26k appreciation (10.0% local appreciation)).
• Klamath County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$44k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 144 days — a 12% lower offer ($224k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $103,368 (59.5% below list)

Questions for the listing agent

1. 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?
2. It's been on market 144 days. Have you received any prior offers? Is the seller open to a 59% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.41% ✗
• Cap rate: 2.41%
• Cash-on-cash: -13.88%
• DSCR: 0.38
• GRM: 20.6

CMA / ARV

• ARV (median comp): $372,435
• List price: $255,000
• Delta: -31.53%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.6%
• Equity multiple: 2.21×
• Total profit: $86,209
• Equity at exit: $229,724

10-year hold

• IRR: 14.4%
• Equity multiple: 5.13×
• Total profit: $295,130
• Equity at exit: $495,409

Cash invested: $71,400 (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 97623

• Home prices YoY: 18.9%
• Active inventory: 123
• Price-to-rent: 20.6×

Monthly cashflow live

• Estimated rent: $1,034 medium
• Mortgage (P&I): −$1,337
• Tax from tax record: −$182 /mo · $2,186/yr
• Insurance: −$106
• HOA: −$17
• Vacancy / Maint / Mgmt: −$217
• Net cashflow: $-826

Break-even live

Break-even rent $2,079

Max offer price $109,070

Occupancy floor —

Sensitivity live

Price	-10% $-682	-5% $-754	+0% $-826	+5% $-898	+10% $-970
Rent	-10% $-908	-5% $-867	+0% $-826	+5% $-785	+10% $-744
Rate	-1.0pp $-698	-0.5pp $-761	base $-826	+0.5pp $-892	+1.0pp $-959

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: $63,750
• Closing costs: $7,650
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $17 · $204/yr

Listing history 10 events

1. 2026-06-03
   status $255,000 Pending 144 DOM
2. 2026-06-02
   days on market $255,000 Active 144 DOM
3. 2026-06-01
   days on market $255,000 Active 143 DOM
4. 2026-05-31
   days on market $255,000 Active 142 DOM
5. 2026-05-30
   days on market $255,000 Active 141 DOM
6. 2026-04-17
   price $259,000 990-char remark

   Show marketing remark (990 chars)

   Welcome To ''The Eagle's Nest''! One-of-a-kind mountain home where craftsmanship & nature converge on 2.24 serene acres. This isn't a flip- it's a genuine love letter! Licensed contractor-owner spent 2024-25 rebuilding every system: new 200-amp service, complete PEX plumbing, modern septic, 2500-gal cistern, new pump house. Inside, prepare to be moved: stunning live-edge juniper countertop with epoxy river inlays (coffee beans, obsidian, lava flow), custom Lichtenberg-burned trim, 3-tier bar-all materials harvested on-property. New stainless kitchen (Aug '24), new W/ D, soaking tub with forest views, luxury vinyl plank throughout. 3BR, 1BA, 2368 SF of peaceful living. Minutes to Gerber Reservoir & Sprague River fishing & 30 minutes to Klamath Falls Metro Area. Horse-ready acreage, gentle topography, ponderosa-studded privacy. Most furnishings included- Short Term Rental (Airbnb) or Your New Personal Getaway? Either Way: Move-in ready for your next chapter!

7. 2026-02-15
   price $269,000 990-char remark

   Show marketing remark (990 chars)

   Welcome To ''The Eagle's Nest''! One-of-a-kind mountain home where craftsmanship & nature converge on 2.24 serene acres. This isn't a flip- it's a genuine love letter! Licensed contractor-owner spent 2024-25 rebuilding every system: new 200-amp service, complete PEX plumbing, modern septic, 2500-gal cistern, new pump house. Inside, prepare to be moved: stunning live-edge juniper countertop with epoxy river inlays (coffee beans, obsidian, lava flow), custom Lichtenberg-burned trim, 3-tier bar-all materials harvested on-property. New stainless kitchen (Aug '24), new W/ D, soaking tub with forest views, luxury vinyl plank throughout. 3BR, 1BA, 2368 SF of peaceful living. Minutes to Gerber Reservoir & Sprague River fishing & 30 minutes to Klamath Falls Metro Area. Horse-ready acreage, gentle topography, ponderosa-studded privacy. Most furnishings included- Short Term Rental (Airbnb) or Your New Personal Getaway? Either Way: Move-in ready for your next chapter!

8. 2026-01-09
   listed $279,000 Active 990-char remark

   Show marketing remark (990 chars)

   Welcome To ''The Eagle's Nest''! One-of-a-kind mountain home where craftsmanship & nature converge on 2.24 serene acres. This isn't a flip- it's a genuine love letter! Licensed contractor-owner spent 2024-25 rebuilding every system: new 200-amp service, complete PEX plumbing, modern septic, 2500-gal cistern, new pump house. Inside, prepare to be moved: stunning live-edge juniper countertop with epoxy river inlays (coffee beans, obsidian, lava flow), custom Lichtenberg-burned trim, 3-tier bar-all materials harvested on-property. New stainless kitchen (Aug '24), new W/ D, soaking tub with forest views, luxury vinyl plank throughout. 3BR, 1BA, 2368 SF of peaceful living. Minutes to Gerber Reservoir & Sprague River fishing & 30 minutes to Klamath Falls Metro Area. Horse-ready acreage, gentle topography, ponderosa-studded privacy. Most furnishings included- Short Term Rental (Airbnb) or Your New Personal Getaway? Either Way: Move-in ready for your next chapter!

9. 2025-03-31
   status Pending
10. 2025-03-30
    historical

ⓘ 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: $2,186 · $182/mo
• Projected year-2 tax: $2,474 · $206/mo
• Expected delta: +$287/yr (+$24/mo · 13.1%)

ⓘ 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 7/10 Severe
• 🌡 Heat 2/10 Low 7 d/yr ≥90°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 21 unhealthy d/yr today · 23 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,404
• − Mortgage interest: −$14,284
• − Property taxes: −$2,186
• − Insurance: −$1,275
• − Repairs & maintenance: −$992
• − Management: −$992
• − HOA: −$204
• − Depreciation: −$7,418
• Taxable loss: −$14,948
• Est. tax savings @ 24.0%: +$3,587
• After-tax cash flow: $-6,325/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 — Bonanza

• Score: 61/100
• State rank: #254
• US rank: #17323

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,954

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 12% Two or more races 8%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Serbian 6% Slovak 4% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 90% English-only · Spanish 10%

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: ▲ 69.97%
• Current HPI: 439.2417
• Rent YoY: —
• Metro: —
• 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

-7.2% since first listed

5 events — show timeline

• 2026-04-17 Price Changed $259,000 MLSCO
• 2026-02-15 Price Changed $269,000 MLSCO
• 2026-01-09 Listed $279,000 MLSCO
• 2025-03-31 Pending — MLSCO
• 2025-03-30 Listing Removed — MLSCO

Property tax history

+11.2%/yr

Latest (2025): $2,186 · +3.2% YoY. Source: county tax records.