319 Martin St · Klamath Falls, OR 97601

$154,000

3 bd · 1.0 ba · 840 sqft · SingleFamily public records · 120 Days on market

Built 1926 3,484 sqft lot $183/sqft · at area comps Est $147k · at est.

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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).

• Cash flow +15.9/30.0
• ARV discount +5.3/15.0
• DSCR +4.9/10.0
• Livability +3.9/5.0
• 1% rule +3.3/10.0
• 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

Fantastic investment opportunity! New roof 2026! This remodeled, 3 bedroom, 1 bathroom home is centrally located in Klamath Falls with quick access to public transportation, restaurants, shopping, hospital and college. Large, fenced yard and detached garage offer plenty of space outside for gardening, room for extra parking and space for pets. Inside is ready for you to move right in; packed with original charm with built-ins and arched doorways, this cozy home also features lots of large windows offering a bright and cheery atmosphere. Good sized living room and kitchen and separate laundry area. Great potential for fantastic rental income or comfortable living-schedule your appointment today!

Key facts

• Fenced yard
• Centrally located
• Original charm

Tags

• REMODELED HOME
• CENTRALLY LOCATED
• FENCED YARD
• DETACHED GARAGE
• ORIGINAL CHARM
• BUILT-INS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $154k.

Deal economics

• At list price, monthly cash flow is $72 ($864/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $128k (17.0% below list).
• Recommended offer: $128k (17.0% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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; 14 comparable units currently listed for rent nearby; rentals lingering (median 44d 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 120 days — a 9% lower offer ($140k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 16y 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 $87k; list at $154k implies a 77% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $127,853 (17.0% below list)

Questions for the listing agent

1. It's been on market 120 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
2. Built in 1926 — 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. 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: 0.83% ✗
• Cap rate: 6.85%
• Cash-on-cash: 2.00%
• DSCR: 1.09
• GRM: 10.0

CMA / ARV

• ARV (median comp): $146,840
• List price: $154,000
• Delta: 4.88%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
129 Henry St	0.21mi	2/1.0 (-1)	882 (+5%)	2mo	$250,000	$283	75
929 Owens St	0.40mi	2/1.0 (-1)	804 (-4%)	1mo	$205,900	$256	69
2325 Home Ave	0.24mi	2/1.0 (-1)	780 (-7%)	4mo	$138,500	$178	68
2533 Applegate Ave	0.58mi	2/1.0 (-1)	804 (-4%)	2mo	$215,000	$267	59
2530 Wantland Ave	0.69mi	2/1.0 (-1)	846 (+1%)	3mo	$192,000	$227	59
2028 Vine Ave	0.31mi	2/1.0 (-1)	725 (-14%)	0mo	$176,300	$243	58
2131 Wantland Ave	0.53mi	2/1.0 (-1)	792 (-6%)	5mo	$120,000	$152	57
2012 Applegate Ave	0.43mi	2/1.0 (-1)	918 (+9%)	5mo	$155,000	$169	55
2546 Applegate Ave	0.61mi	2/1.0 (-1)	797 (-5%)	4mo	$208,000	$261	55
2215 Eberlein Ave	0.61mi	2/1.0 (-1)	900 (+7%)	2mo	$175,000	$194	53
2136 Eberlein Ave	0.62mi	3/1.0	952 (+13%)	2mo	$219,000	$230	47
2136 Radcliffe Ave	0.74mi	2/1.0 (-1)	964 (+15%)	5mo	$211,600	$220	32

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 · 3.12% rent growth · sell at horizon

5-year hold

• IRR: -13.0%
• Equity multiple: 0.53×
• Total profit: $-20,272
• Equity at exit: $22,962

10-year hold

• IRR: -4.0%
• Equity multiple: 0.74×
• Total profit: $-11,348
• Equity at exit: $13,315

Cash invested: $43,120 (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: 10.0×

Monthly cashflow live

• Estimated rent: $1,279 high
• Mortgage (P&I): −$808
• Tax from tax record: −$66 /mo · $795/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $72

Break-even live

Break-even rent $1,187

Max offer price $154,000

Occupancy floor 89%

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: $38,500
• Closing costs: $4,620
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
104 S Williams Ave Unit A Klamath Falls, OR	3.0	2.0	800	$1,295	$1.62	43d	1	0.23mi
233 Old Fort Rd Klamath Falls, OR	2.0	1.0	1050	$1,250	$1.19	43d	1	0.34mi
151 N Williams Ave Klamath Falls, OR	1.0–2.0	1.0–2.0	485	$1,950	$4.02	43d	1	0.37mi
230 S 11th St Klamath Falls, OR	2.0	1.0	498	$1,100	$2.21	43d	1	0.62mi
2425 White Ave Klamath Falls, OR	2.0	1.0	950	$1,250	$1.32	43d	1	0.71mi
1331 Avalon St Apt 08 Klamath Falls, OR	2.0	1.0	775	$1,125	$1.45	43d	1	0.94mi
708 Jefferson St Klamath Falls, OR	2.0	1.0	800	$1,050	$1.31	43d	1	0.98mi
729-731 N 11th St Klamath Falls, OR	2.0	1.0	945	$1,250	$1.32	43d	1	1.03mi
234 N 3rd St Unit 1 Klamath Falls, OR	2.0	1.0	791	$1,200	$1.52	43d	1	1.07mi
1400 Arthur St Klamath Falls, OR	2.0	1.5	950	$1,275	$1.34	43d	3	1.10mi
3124 Sunset Ct Klamath Falls, OR	2.0	1.0	1091	$1,495	$1.37	43d	1	1.12mi
2124 Arthur St Unit 24 Klamath Falls, OR	2.0	1.0	600	$1,000	$1.67	43d	1	1.45mi
1616 Dayton St Klamath Falls, OR	2.0	1.0	732	$1,400	$1.91	43d	1	1.47mi
2160 Arthur St Unit 5 Klamath Falls, OR	2.0	1.0	740	$995	$1.34	43d	1	1.49mi

Listing history 23 events

1. 2026-06-12
   statusdays on market $154,000 Pending 120 DOM
2. 2026-06-09
   days on market $154,000 Active 118 DOM
3. 2026-06-08
   days on market $154,000 Active 117 DOM
4. 2026-06-07
   days on market $154,000 Active 116 DOM
5. 2026-06-05
   days on market $154,000 Active 113 DOM
6. 2026-06-03
   days on market $154,000 Active 112 DOM
7. 2026-06-03
   days on market $154,000 Active 111 DOM
8. 2026-05-31
   days on market $154,000 Active 190 DOM
9. 2026-05-30
   days on market $154,000 Active 189 DOM
10. 2026-04-21
    price $154,000 703-char remark

    Show marketing remark (703 chars)

    Fantastic investment opportunity! New roof 2026! This remodeled, 3 bedroom, 1 bathroom home is centrally located in Klamath Falls with quick access to public transportation, restaurants, shopping, hospital and college. Large, fenced yard and detached garage offer plenty of space outside for gardening, room for extra parking and space for pets. Inside is ready for you to move right in; packed with original charm with built-ins and arched doorways, this cozy home also features lots of large windows offering a bright and cheery atmosphere. Good sized living room and kitchen and separate laundry area. Great potential for fantastic rental income or comfortable living-schedule your appointment today!

11. 2026-03-14
    status Active 703-char remark

    Show marketing remark (703 chars)

    Fantastic investment opportunity! New roof 2026! This remodeled, 3 bedroom, 1 bathroom home is centrally located in Klamath Falls with quick access to public transportation, restaurants, shopping, hospital and college. Large, fenced yard and detached garage offer plenty of space outside for gardening, room for extra parking and space for pets. Inside is ready for you to move right in; packed with original charm with built-ins and arched doorways, this cozy home also features lots of large windows offering a bright and cheery atmosphere. Good sized living room and kitchen and separate laundry area. Great potential for fantastic rental income or comfortable living-schedule your appointment today!

12. 2026-03-09
    status Pending 703-char remark

    Show marketing remark (703 chars)

    Fantastic investment opportunity! New roof 2026! This remodeled, 3 bedroom, 1 bathroom home is centrally located in Klamath Falls with quick access to public transportation, restaurants, shopping, hospital and college. Large, fenced yard and detached garage offer plenty of space outside for gardening, room for extra parking and space for pets. Inside is ready for you to move right in; packed with original charm with built-ins and arched doorways, this cozy home also features lots of large windows offering a bright and cheery atmosphere. Good sized living room and kitchen and separate laundry area. Great potential for fantastic rental income or comfortable living-schedule your appointment today!

13. 2025-11-18
    listed $155,000 Active 703-char remark

    Show marketing remark (703 chars)

    Fantastic investment opportunity! New roof 2026! This remodeled, 3 bedroom, 1 bathroom home is centrally located in Klamath Falls with quick access to public transportation, restaurants, shopping, hospital and college. Large, fenced yard and detached garage offer plenty of space outside for gardening, room for extra parking and space for pets. Inside is ready for you to move right in; packed with original charm with built-ins and arched doorways, this cozy home also features lots of large windows offering a bright and cheery atmosphere. Good sized living room and kitchen and separate laundry area. Great potential for fantastic rental income or comfortable living-schedule your appointment today!

14. 2022-01-31
    soldstatus $87,000 Closed 129-char remark

    Show marketing remark (129 chars)

    3 bedroom 1 bath home is currently rented and makes a great rental property. It has nice laminate flooring and a detached garage.

15. 2022-01-31
    soldstatus $87,000

    Show marketing remark (129 chars)

    3 bedroom 1 bath home is currently rented and makes a great rental property. It has nice laminate flooring and a detached garage.

16. 2021-12-01
    status Pending 129-char remark

    Show marketing remark (129 chars)

    3 bedroom 1 bath home is currently rented and makes a great rental property. It has nice laminate flooring and a detached garage.

17. 2021-10-28
    price $94,900 129-char remark

    Show marketing remark (129 chars)

    3 bedroom 1 bath home is currently rented and makes a great rental property. It has nice laminate flooring and a detached garage.

18. 2021-10-12
    status Active 129-char remark

    Show marketing remark (129 chars)

    3 bedroom 1 bath home is currently rented and makes a great rental property. It has nice laminate flooring and a detached garage.

19. 2021-10-06
    status Pending 129-char remark

    Show marketing remark (129 chars)

    3 bedroom 1 bath home is currently rented and makes a great rental property. It has nice laminate flooring and a detached garage.

20. 2021-09-24
    listed $99,900 Active 129-char remark

    Show marketing remark (129 chars)

    3 bedroom 1 bath home is currently rented and makes a great rental property. It has nice laminate flooring and a detached garage.

21. 2021-07-30
    soldstatus $6,020,000
22. 2020-04-26
    historical
23. 2010-02-12
    listed $59,900

ⓘ 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: $795 · $66/mo
• Projected year-2 tax: $1,494 · $124/mo
• Expected delta: +$699/yr (+$58/mo · 87.8%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 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 29 unhealthy d/yr today · 31 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,342
• − Mortgage interest: −$8,626
• − Property taxes: −$795
• − Insurance: −$770
• − Repairs & maintenance: −$1,227
• − Management: −$1,227
• − Depreciation: −$4,480
• Taxable loss: −$1,784
• Est. tax savings @ 24.0%: +$428
• After-tax cash flow: $1,292/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

• Census place: Klamath Falls, OR
• 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

+157.1% since first listed

14 events — show timeline

• 2026-04-21 Price Changed $154,000 MLSCO
• 2026-03-14 Relisted — MLSCO
• 2026-03-09 Pending — MLSCO
• 2025-11-18 Listed $155,000 MLSCO
• 2022-01-31 Sold (Public Records) $87,000 Public Records
• 2022-01-31 Sold (MLS) $87,000 MLSCO
• 2021-12-01 Pending — MLSCO
• 2021-10-28 Price Changed $94,900 MLSCO
• 2021-10-12 Relisted — MLSCO
• 2021-10-06 Pending — MLSCO
• 2021-09-24 Listed $99,900 MLSCO
• 2021-07-30 Sold (Public Records) $6,020,000 Public Records
• 2020-04-26 Listing Removed — MLSCO
• 2010-02-12 Listed $59,900 MLSCO

Property tax history

+3.6%/yr

Latest (2025): $795 · +2.4% YoY. Source: county tax records.