2984 Myrtle St · North Bend, OR 97459

$299,000

3 bd · 1.0 ba · 1,656 sqft · SingleFamily public records · 6 Days on market

Built 1953 8,276 sqft lot $181/sqft · 13% below area Est $342k · 13% under

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Why this score? — see what drove the C- 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 +13.2/15.0
• Cash flow +12.1/30.0
• Appreciation +10.0/10.0
• DSCR +3.6/10.0
• Livability +3.6/5.0
• Schools +3.3/10.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

GLEAMING HARDWOOD FLOORS, COUNTRY OAK KITCHEN AND ALL NEW VINYL WINDOWS LEAD YOU TO EXTRA LARGE MASTER WITH IT OWN LUXURY SPA BATH~ITALIAN TILE, JACUZZI TUB, DUAL HEAD SHOWER~IT'S A MUST SEE! 2BD/2BTH WITH UNFINISHED FAMILY ROOM(INCLUDED IN SQ. FT.) FOR MORE POTENTIAL SPACE.

Key facts

• 8,276 sq ft lot
• Built 1953
• Listed 6 days

Property features AI

Finance

• Other: Main level area approximately 1,656 (as provided)

Exterior

• Parking: Driveway; Off-street parking
• Utilities: Electricity fuel; Public water; Public sewer
• Home design: Single-family residence; Residential property; Not attached; Main level living (primary bedroom and bathrooms on main level); Built in 1953; Corner, level lot
• Construction: Built in 1953; Cedar exterior; Crawl space foundation
• Exterior features: Deck; Fenced yard; Yard; Cedar exterior

Interior

• Kitchen: Free-standing range; Free-standing refrigerator; Dishwasher; Garbage disposal
• Bedrooms: Primary bedroom on main level with bathtub and wood floors; Second bedroom; Third bedroom
• Flooring: Wood floors
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Zoned heating; No cooling specified
• Interior features: Hardwood floors; Jetted tub; Laundry area; Pellet stove fireplace; Minimal steps (accessibility)
• Laundry & utility: Laundry area (in-home)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $299k.

Deal economics

• At list price, monthly cash flow is $-64 ($-764/yr) — negative.
• To cash-flow at today's rent, offer at most $288k (3.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $226k (24.3% below list).
• Recommended offer: $226k (24.3% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 3.6% in North Bend — 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 72/100 on livability (#105 in OR) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living B+; Watch: employment C-, amenities F, commute 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.
• Zoned schools: Hillcrest Elementary School (math 47% / reading 57%, grade C-, #93 of 412 statewide, top 23%, 489 students, 68% FRL); North Bend Middle School (math 24% / reading 45%, grade F, #61 of 128 statewide, top 54%, 494 students, 68% FRL); North Bend Senior High School (math 75% / reading 75%, grade A-, #2 of 143 statewide, top 6%, 731 students, 30% FRL) — zoned schools average 55% FRL vs 40% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 54% at this address vs 38% district-wide (+15 pts) — the actual schools serving this property are materially stronger than the North Bend SD 13 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 170 active listings in the ZIP; 4 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; 122 units permitted in Coos County in 2024 (16 in 5+ unit buildings).

Forward outlook

• In year one you build about $32k of equity ($2k loan paydown + $30k appreciation (10.0% local appreciation)).
• Coos County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $84k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$51k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 29y 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

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $226,444 (24.3% 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. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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.
6. 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.
7. 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: 0.76% ✗
• Cap rate: 6.04%
• Cash-on-cash: -0.91%
• DSCR: 0.96
• GRM: 11.0

CMA / ARV

• ARV (median comp): $342,466
• List price: $299,000
• Delta: -12.69%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2984 Myrtle St	0.00mi	3/2.0	1,656 (0%)	0mo	$312,500	$189	96
2160 Lombard St	0.07mi	4/2.0 (+1)	1,619 (-2%)	3mo	$225,000	$139	82
1289 Ford Ln	0.56mi	3/3.0	1,703 (+3%)	1mo	$475,000	$279	60
3511 Scott Ct	0.59mi	3/2.0	1,592 (-4%)	5mo	$338,500	$213	57
2292 Clark St	0.17mi	4/2.0 (+1)	1,464 (-12%)	8mo	$420,000	$287	57
2238 Marion St	0.61mi	4/1.0 (+1)	1,562 (-6%)	4mo	$302,000	$193	54
2143 Ash St	0.70mi	3/3.0	1,620 (-2%)	5mo	$390,000	$241	52
1033 Ohio Ave	0.66mi	2/1.0 (-1)	1,700 (+3%)	11mo	$345,000	$203	51
2232 Broadway Ave	0.57mi	3/1.0	1,416 (-14%)	2mo	$150,000	$106	48
2390 Madrona St	0.47mi	3/2.0	1,466 (-12%)	9mo	$329,000	$224	47
2691 14th St	0.57mi	3/2.0	1,422 (-14%)	2mo	$330,000	$232	44
2579 Pony Creek Rd	0.63mi	3/3.0	1,458 (-12%)	4mo	$415,000	$285	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 23.6%
• Equity multiple: 2.90×
• Total profit: $158,690
• Equity at exit: $269,363

10-year hold

• IRR: 21.0%
• Equity multiple: 6.62×
• Total profit: $470,313
• Equity at exit: $580,891

Cash invested: $83,720 (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 97459

• Home prices YoY: 1.6%
• Active inventory: 170
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,264 medium
• Mortgage (P&I): −$1,568
• Tax from tax record: −$160 /mo · $1,920/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$476
• Net cashflow: $-64

Break-even live

Break-even rent $2,345

Max offer price $287,750

Occupancy floor 98%

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1886 15th St North Bend, OR	4.0	2.0	1680	$2,400	$1.43	43d	1	0.40mi
2146 Monroe Ave Unit 2146 North Bend, OR	3.0	1.5	1456	$2,100	$1.44	43d	1	0.91mi
510 Lombard St North Bend, OR	3.0	2.0	1384	$2,200	$1.59	43d	1	0.95mi
455 N Cammann St Coos Bay, OR	3.0	1.0	1060	$2,000	$1.89	43d	1	1.45mi

Listing history 9 events

1. 2026-05-05
   status Pending 482-char remark
2. 2026-04-29
   listed $299,000 Active 482-char remark
3. 2004-12-03
   soldstatus $144,000 275-char remark

   Show marketing remark (275 chars)

   GLEAMING HARDWOOD FLOORS, COUNTRY OAK KITCHEN AND ALL NEW VINYL WINDOWS LEAD YOU TO EXTRA LARGE MASTER WITH IT OWN LUXURY SPA BATH~ITALIAN TILE, JACUZZI TUB, DUAL HEAD SHOWER~IT'S A MUST SEE! 2BD/2BTH WITH UNFINISHED FAMILY ROOM(INCLUDED IN SQ. FT.) FOR MORE POTENTIAL SPACE.

4. 2004-12-03
   soldstatus $144,000

   Show marketing remark (275 chars)

   GLEAMING HARDWOOD FLOORS, COUNTRY OAK KITCHEN AND ALL NEW VINYL WINDOWS LEAD YOU TO EXTRA LARGE MASTER WITH IT OWN LUXURY SPA BATH~ITALIAN TILE, JACUZZI TUB, DUAL HEAD SHOWER~IT'S A MUST SEE! 2BD/2BTH WITH UNFINISHED FAMILY ROOM(INCLUDED IN SQ. FT.) FOR MORE POTENTIAL SPACE.

5. 2004-10-01
   historical 275-char remark

   Show marketing remark (275 chars)

   GLEAMING HARDWOOD FLOORS, COUNTRY OAK KITCHEN AND ALL NEW VINYL WINDOWS LEAD YOU TO EXTRA LARGE MASTER WITH IT OWN LUXURY SPA BATH~ITALIAN TILE, JACUZZI TUB, DUAL HEAD SHOWER~IT'S A MUST SEE! 2BD/2BTH WITH UNFINISHED FAMILY ROOM(INCLUDED IN SQ. FT.) FOR MORE POTENTIAL SPACE.

6. 2004-09-18
   listed $148,000 275-char remark

   Show marketing remark (275 chars)

   GLEAMING HARDWOOD FLOORS, COUNTRY OAK KITCHEN AND ALL NEW VINYL WINDOWS LEAD YOU TO EXTRA LARGE MASTER WITH IT OWN LUXURY SPA BATH~ITALIAN TILE, JACUZZI TUB, DUAL HEAD SHOWER~IT'S A MUST SEE! 2BD/2BTH WITH UNFINISHED FAMILY ROOM(INCLUDED IN SQ. FT.) FOR MORE POTENTIAL SPACE.

7. 1997-12-24
   soldstatus $72,000
8. 1997-12-22
   soldstatus $72,000
9. 1997-10-22
   listed $69,900

ⓘ 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: $1,920 · $160/mo
• Projected year-2 tax: $2,900 · $242/mo
• Expected delta: +$980/yr (+$82/mo · 51.0%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 8 d/yr ≥76°F today · 22 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 9 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,173
• − Mortgage interest: −$16,749
• − Property taxes: −$1,920
• − Insurance: −$1,495
• − Repairs & maintenance: −$2,174
• − Management: −$2,174
• − Depreciation: −$8,698
• Taxable loss: −$6,036
• Est. tax savings @ 24.0%: +$1,449
• After-tax cash flow: $685/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: North Bend SD 13
• NCES district ID: 4108820
• Math proficiency: 30% ▼ -3.00%
• Reading proficiency: 47% ▼ -6.00%
• Median HH income: $43,614
• Composite: 32.57/100
• National rank: #5681
• State rank: #21 of 58 in OR

Livability — North Bend

• Score: 72/100
• State rank: #105
• US rank: #5876

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Bend, OR
• Population (ZIP): 15,328

Population outlook (Coos County) Hauer SSP2

• Today (2025): 62,222 people
• By 2030: 61,120 · -1.8%
• By 2040: 58,478 · -6.0%
• By 2050: 56,819 · -8.7%
• By 2075: 54,915 · -11.7%
• By 2100: 51,403 · -17.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 10% Hispanic / Latino 7% Asian 3% Native American 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 7% Portuguese 4% Lithuanian 3%
• Foreign-born: 5% · Canada, China, Philippines
• Languages at home: 94% English-only · Spanish 2% Chinese 1% Other Asian/Pacific 1%

Political lean MEDSL · Coos

• 2024 margin: R (+19.9) · D 38.7% · R 58.5% · Other 2.8%
• 2008→2024 swing: -16.8pp toward R · 2008: -3.1pp · 2024: -19.9pp
• All cycles: 2024: R+19.9 2020: R+20.5 2016: R+24.3 2012: R+6.3 2008: R+3.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 14.02%
• Current HPI: 887.7
• 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

+347.1% since first listed

11 events — show timeline

• 2026-06-08 Sold (Public Records) $312,500 Public Records
• 2026-06-08 Sold (MLS) $312,500 RMLS
• 2026-05-05 Pending — RMLS
• 2026-04-29 Listed $299,000 RMLS
• 2004-12-03 Sold (Public Records) $144,000 Public Records
• 2004-12-03 Sold (MLS) $144,000 RMLS
• 2004-10-01 Delisted — RMLS
• 2004-09-18 Listed $148,000 RMLS
• 1997-12-24 Sold (MLS) $72,000 RMLS
• 1997-12-22 Sold (Public Records) $72,000 Public Records
• 1997-10-22 Listed $69,900 RMLS

Property tax history

+2.3%/yr

Latest (2025): $1,920 · -0.9% YoY. Source: county tax records.