692 N Elliott St

Coquille, OR 97423

$134,900B

2 bd · 1.0 ba · 836 sqft · Built 1919 · SingleFamily · Pending · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,586/mo
• Mortgage (P&I): −$707
• Tax + insurance: −$134
• HOA: −$0
• Vac / Maint / Mgmt: −$333
• Net cashflow: $411/mo
• Annual: $4,933/yr
• Cap rate: 9.95%
• Cash-on-cash: 13.06%
• DSCR: 1.58
• 1% rule: 1.18%
• Cash to close: $37,772

Investor read

• This is a 2-bed/1.0-bath single-family listed at $135k.
• At list price, monthly cash flow is $411 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#123 in OR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: commute F, employment F.
• Coquille SD 8 (town): math 22% / reading 43% proficiency, ranked #37 of 58 in OR (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Coquille Valley Elementary (math 34% / reading 52%, grade F, #159 of 412 statewide, top 39%, 333 students, 66% FRL); Coquille Junior Senior High (math 22% / reading 42%, grade F, #105 of 143 statewide, top 73%, 366 students, 68% FRL) — zoned schools average 67% FRL vs 51% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 95 active listings in the ZIP; 122 units permitted in Coos County in 2024 (16 in 5+ unit buildings).
• Coos County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Current owner paid $48k; list at $135k implies a 184% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~9 years — after that, you're playing with house money.
• Cap rate 9.9% vs local median 3.2% in Coquille — 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.

Questions for listing agent

• Built in 1919 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.