64294 Penny Rd · Coos Bay, OR 97420

$199,000

4 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 45 Days on market

Built 1974 1.08 ac lot Est $390k · 49% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• Rent growth +4.7/5.0
• Livability +3.1/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Private and quiet 1 acre lot near Charleston. Circular driveway and good parking for your toys. 4 outbuildings, 1 is a chicken coop. Well maintained home with open living area, large kitchen, separate dining room and master suite. Covered wrap around deck, fenced dog area and room for a garden. For sale only... NOT available for Rent.

Key facts

• Master suite
• Studio add-on
• Open living area

Tags

• ONE ACRE PROPERTY
• OPEN LIVING AREA
• LARGE KITCHEN
• SEPARATE DINING AREA
• MASTER SUITE
• STUDIO ADD-ON

Property features AI

Finance

• Other: Lot size approximately 1.08 acres (1 to 2.99 acre range); Assessor-recorded building area 1,344; View: Territorial
• HOA & community: Not a senior community; Zoned RES

Exterior

• Parking: Carport; Off-street parking; RV parking and RV/boat storage
• Utilities: Public water; Public sewer; Electric service
• Home design: Manufactured home on real property; Single-story (main level living); Residential property, resale
• Construction: Built in 1974; Skirting foundation
• Exterior features: Metal roof; Vinyl siding; Poultry coop; Tool shed; Workshop; Gentle sloping to level lot; Paved road access; Territorial view

Interior

• Kitchen: Free-standing range; Free-standing refrigerator
• Bedrooms: Primary bedroom (main level); Second bedroom; Third bedroom
• Bathrooms: 2 full bathrooms (both on main level)
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Family room; Great room; Dining room; Living room; Territorial view
• Laundry & utility: Electric hot water

🏷️ Possibly a rental listed for sale. The $199,000 price doesn't fit this home's estimated sale value (~$389,760) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $199k.

Deal economics

• At list price, monthly cash flow is $888 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $199k).
• Recommended offer: $193k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.6% vs local median 4.2% in Coos Bay — 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 61/100 on livability (#257 in OR) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: crime F, amenities F, commute F.
• Coos Bay SD 9 (town): math 22% / reading 39% proficiency, ranked #45 of 58 in OR (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Madison Elementary School (295 students, 69% FRL); Marshfield Senior High School (math 17% / reading 54%, grade F, #89 of 143 statewide, top 62%, 835 students, 31% FRL) — zoned schools at 50% FRL track the district average.
• Market conditions: Rents rising fast (+8.7%/yr); 342 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 122 units permitted in Coos County in 2024 (16 in 5+ unit buildings).
• At $2,716/mo this rent would consume 53% of the median local household income ($62k/yr) (locally 799% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Coos County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $56k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y ago; this cycle's ask has dropped $51k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $139k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $193,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.37% ✓
• Cap rate: 11.65%
• Cash-on-cash: 19.13%
• DSCR: 1.85
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $389,760
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
91382 Grinnell Ln	0.26mi	3/2.0 (-1)	1,344 (0%)	2mo	$390,000	$290	81
91570 Grinnell Ln	0.16mi	3/2.0 (-1)	1,462 (+9%)	15mo	$435,000	$298	61
91511 Spaw Ln	0.41mi	3/2.0 (-1)	1,344 (0%)	20mo	$340,000	$253	60

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 16.3%
• Equity multiple: 1.69×
• Total profit: $38,652
• Equity at exit: $29,672

10-year hold

• IRR: 28.1%
• Equity multiple: 4.08×
• Total profit: $171,717
• Equity at exit: $17,206

Cash invested: $55,720 (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 97420

• Rents YoY: 8.7%
• Active inventory: 342
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,716 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$131 /mo · $1,574/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$570
• Net cashflow: $888

Break-even live

Break-even rent $1,592

Max offer price $199,000

Occupancy floor 62%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
971 Inlet Loop Coos Bay, OR	3.0	3.0	1792	$3,150	$1.76	43d	1	1.28mi
949 Blanco Ave Coos Bay, OR	3.0	2.0	1100	$2,500	$2.27	43d	1	1.30mi

Listing history 18 events

1. 2026-04-30
   status Pending
2. 2026-03-23
   price $199,000
3. 2026-03-14
   listed $250,000 Active
4. 2018-08-13
   soldstatus $139,000 Sold 336-char remark

   Show marketing remark (336 chars)

   Private and quiet 1 acre lot near Charleston. Circular driveway and good parking for your toys. 4 outbuildings, 1 is a chicken coop. Well maintained home with open living area, large kitchen, separate dining room and master suite. Covered wrap around deck, fenced dog area and room for a garden. For sale only... NOT available for Rent.

5. 2018-08-13
   soldstatus $139,100

   Show marketing remark (336 chars)

   Private and quiet 1 acre lot near Charleston. Circular driveway and good parking for your toys. 4 outbuildings, 1 is a chicken coop. Well maintained home with open living area, large kitchen, separate dining room and master suite. Covered wrap around deck, fenced dog area and room for a garden. For sale only... NOT available for Rent.

6. 2018-06-22
   status Pending 336-char remark

   Show marketing remark (336 chars)

   Private and quiet 1 acre lot near Charleston. Circular driveway and good parking for your toys. 4 outbuildings, 1 is a chicken coop. Well maintained home with open living area, large kitchen, separate dining room and master suite. Covered wrap around deck, fenced dog area and room for a garden. For sale only... NOT available for Rent.

7. 2018-06-07
   listed $149,500 Active 336-char remark

   Show marketing remark (336 chars)

   Private and quiet 1 acre lot near Charleston. Circular driveway and good parking for your toys. 4 outbuildings, 1 is a chicken coop. Well maintained home with open living area, large kitchen, separate dining room and master suite. Covered wrap around deck, fenced dog area and room for a garden. For sale only... NOT available for Rent.

8. 2007-11-20
   soldstatus $140,000 239-char remark

   Show marketing remark (239 chars)

   Country living with city amenities, all on 1.08 subdividale acres. Wrap around deck on 3 sides. Enclosed deck with built-in hot tub. Large utility room with skylight & lots of storage. Private & quiet. Must see to appreciate.

9. 2007-11-20
   soldstatus $140,000

   Show marketing remark (239 chars)

   Country living with city amenities, all on 1.08 subdividale acres. Wrap around deck on 3 sides. Enclosed deck with built-in hot tub. Large utility room with skylight & lots of storage. Private & quiet. Must see to appreciate.

10. 2007-10-29
    historical 239-char remark

    Show marketing remark (239 chars)

    Country living with city amenities, all on 1.08 subdividale acres. Wrap around deck on 3 sides. Enclosed deck with built-in hot tub. Large utility room with skylight & lots of storage. Private & quiet. Must see to appreciate.

11. 2007-07-09
    listed $180,000 239-char remark

    Show marketing remark (239 chars)

    Country living with city amenities, all on 1.08 subdividale acres. Wrap around deck on 3 sides. Enclosed deck with built-in hot tub. Large utility room with skylight & lots of storage. Private & quiet. Must see to appreciate.

12. 2005-11-01
    soldstatus $150,000
13. 2005-10-31
    soldstatus $150,000
14. 2005-10-10
    historical
15. 2005-09-14
    listed $162,000
16. 1999-07-12
    soldstatus $77,500
17. 1993-12-01
    soldstatus $45,000
18. 1986-06-01
    soldstatus $7,000

ⓘ 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: $1,574 · $131/mo
• Projected year-2 tax: $1,930 · $161/mo
• Expected delta: +$356/yr (+$30/mo · 22.6%)

ⓘ 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 7 d/yr ≥74°F today · 20 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: $32,596
• − Mortgage interest: −$11,147
• − Property taxes: −$1,574
• − Insurance: −$995
• − Repairs & maintenance: −$2,608
• − Management: −$2,608
• − Depreciation: −$5,789
• Taxable income: $7,876
• Est. tax owed @ 24.0%: −$1,890
• After-tax cash flow: $8,769/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: Coos Bay SD 9
• NCES district ID: 4103660
• Math proficiency: 22% ▼ -6.00%
• Reading proficiency: 39% ▼ -4.00%
• Median HH income: $38,630
• Composite: 25.46/100
• National rank: #7450
• State rank: #45 of 58 in OR

Livability — Coos Bay

• Score: 61/100
• State rank: #257
• US rank: #17474

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Coos County · 27,621 people
• City population: 27,621
• Metro: Coos Bay, OR
• Population (ZIP): 27,621
• Household income: $61,574
• Rent vs Own: 32.7% rent · 67.3% own
• Severe rent burden: 799.0

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 (81%)
• Race & ethnicity: White 81% Hispanic / Latino 10% Two or more races 8% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 5% Slovak 3% Lithuanian 3%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 92% English-only · Spanish 6%

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: ▼ -315.58%
• Current HPI: 198.3249
• Rent YoY: ▲ 8.65%
• Metro: Coos Bay, 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

+2742.9% since first listed

18 events — show timeline

• 2026-04-30 Pending — RMLS
• 2026-03-23 Price Changed $199,000 RMLS
• 2026-03-14 Listed $250,000 RMLS
• 2018-08-13 Sold (Public Records) $139,100 Public Records
• 2018-08-13 Sold (MLS) $139,000 RMLS
• 2018-06-22 Pending — RMLS
• 2018-06-07 Listed $149,500 RMLS
• 2007-11-20 Sold (Public Records) $140,000 Public Records
• 2007-11-20 Sold (MLS) $140,000 RMLS
• 2007-10-29 Delisted — RMLS
• 2007-07-09 Listed $180,000 RMLS
• 2005-11-01 Sold (MLS) $150,000 RMLS
• 2005-10-31 Sold (Public Records) $150,000 Public Records
• 2005-10-10 Delisted — RMLS
• 2005-09-14 Listed $162,000 RMLS
• 1999-07-12 Sold (Public Records) $77,500 Public Records
• 1993-12-01 Sold (Public Records) $45,000 Public Records
• 1986-06-01 Sold (Public Records) $7,000 Public Records

Property tax history

+4.1%/yr

Latest (2025): $1,574 · +1.9% YoY. Source: county tax records.