1747 Hope St · Altamont, OR 97603

$110,000

2 bd · 1.0 ba · 872 sqft · SingleFamily public records · 83 Days on market

Built 1935 0.39 ac lot $126/sqft · 47% below area Est $207k · 47% 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 +25.8/30.0
• ARV discount +15.0/15.0
• DSCR +8.6/10.0
• 1% rule +6.0/10.0
• Rent growth +3.5/5.0
• Livability +3.2/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 2 bedroom 1 bath, 872 sq ft home built in 1935 is in need of some TLC. Sits on large lot 16,988 sf ft lot. Large mature trees. Home has Natural Gas & Electrical Heat.

Key facts

• Large lot
• Electrical heat
• Natural gas

Tags

• LARGE LOT
• MATURE TREES
• NATURAL GAS
• ELECTRICAL HEAT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $267 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $103k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 3.7% in Altamont — 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 65/100 on livability (#195 in OR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D, crime 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.
• Market conditions: Rents rising (+3.8%/yr); 263 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals lingering (median 45d 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 $761 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.8% rent growth), your $31k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $103,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1935 — 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. 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: 1.10% ✓
• Cap rate: 9.21%
• Cash-on-cash: 10.41%
• DSCR: 1.46
• GRM: 7.6

CMA / ARV

• ARV (median comp): $207,350
• List price: $110,000
• Delta: -46.95%
• 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
5201 Bryant Ave	0.33mi	2/1.0	908 (+4%)	1mo	$255,000	$281	77
4434 Bryant Ave	0.20mi	2/1.0	804 (-8%)	1mo	$175,000	$218	77
2176 Wiard St	0.39mi	2/1.0	846 (-3%)	2mo	$145,000	$171	75
1520 Derby St	0.48mi	2/1.0	866 (-1%)	4mo	$185,000	$214	73
1804 Hope St	0.06mi	2/1.0	1,000 (+15%)	1mo	$206,000	$206	72
1325 Wiard St	0.37mi	2/1.0	788 (-10%)	7mo	$120,000	$152	61
2515 Wiard St	0.64mi	2/1.0	832 (-5%)	5mo	$268,000	$322	58
4230 Frieda Ave	0.38mi	2/1.0	775 (-11%)	8mo	$230,000	$297	57
2506 Homedale Rd	0.73mi	2/1.0	824 (-6%)	3mo	$200,000	$243	54
1604 Derby St	0.47mi	2/1.0	932 (+7%)	18mo	$225,000	$241	52
4650 Cannon Ave	0.60mi	2/1.0	775 (-11%)	15mo	$208,000	$268	41
2510 Kane St	0.67mi	2/1.0	982 (+13%)	14mo	$310,000	$316	37

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 · 3.8% rent growth · sell at horizon

5-year hold

• IRR: 0.1%
• Equity multiple: 1.00×
• Total profit: $153
• Equity at exit: $16,401

10-year hold

• IRR: 10.5%
• Equity multiple: 1.85×
• Total profit: $26,051
• Equity at exit: $9,511

Cash invested: $30,800 (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 97603

• Rents YoY: 3.8%
• Active inventory: 263
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,212 high
• Mortgage (P&I): −$577
• Tax from tax record: −$68 /mo · $814/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $267

Break-even live

Break-even rent $874

Max offer price $110,000

Occupancy floor 73%

Sensitivity live

Price	-10% $329	-5% $298	+0% $267	+5% $236	+10% $205
Rent	-10% $171	-5% $219	+0% $267	+5% $315	+10% $363
Rate	-1.0pp $323	-0.5pp $295	base $267	+0.5pp $239	+1.0pp $210

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1222 Summers Ln Unit 1222 Klamath Falls, OR	2.0	1.0	950	$1,450	$1.53	44d	1	0.51mi
1616 Dayton St Klamath Falls, OR	2.0	1.0	732	$1,400	$1.91	44d	1	0.51mi
4507 Cannon Ave Apt 52 Klamath Falls, OR	2.0	1.0	850	$1,000	$1.18	44d	1	0.57mi
4507 Cannon Ave Unit 42 Klamath Falls, OR	1.0	1.0	550	$925	$1.68	44d	1	0.57mi
4519 Cannon Ave Apt 2 Klamath Falls, OR	2.0	1.0	850	$1,050	$1.24	44d	1	0.57mi
4519 Cannon Ave Unit 22 Klamath Falls, OR	2.0	1.0	850	$1,000	$1.18	44d	1	0.57mi
4500 Cannon Ave Unit 87 Klamath Falls, OR	1.0	1.0	550	$925	$1.68	44d	1	0.61mi
1400 Arthur St Klamath Falls, OR	2.0	1.5	950	$1,275	$1.34	44d	3	0.91mi
2160 Arthur St Unit 5 Klamath Falls, OR	2.0	1.0	740	$995	$1.34	44d	1	0.94mi
3124 Sunset Ct Klamath Falls, OR	2.0	1.0	1091	$1,495	$1.37	44d	1	0.94mi
2124 Arthur St Unit 24 Klamath Falls, OR	2.0	1.0	600	$1,000	$1.67	44d	1	0.96mi
1331 Avalon St Apt 08 Klamath Falls, OR	2.0	1.0	775	$1,125	$1.45	44d	1	1.06mi
3039 Kane St Klamath Falls, OR	3.0	2.0	988	$1,395	$1.41	44d	1	1.08mi
3311 Madison St Klamath Falls, OR	1.0	1.0	700	$900	$1.29	44d	1	1.38mi
1912 Dawn Ct Unit B Klamath Falls, OR	2.0	1.0	1027	$1,150	$1.12	44d	1	1.41mi
2425 White Ave Klamath Falls, OR	2.0	1.0	950	$1,250	$1.32	44d	1	1.42mi

Listing history 1 events

1. 2026-03-04
   listed $110,000 Active 177-char remark

   Show marketing remark (177 chars)

   This 2 bedroom 1 bath, 872 sq ft home built in 1935 is in need of some TLC. Sits on large lot 16,988 sf ft lot. Large mature trees. Home has Natural Gas & Electrical Heat.

ⓘ 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: $814 · $68/mo
• Projected year-2 tax: $1,067 · $89/mo
• Expected delta: +$253/yr (+$21/mo · 31.0%)

ⓘ 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 · 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 38 unhealthy d/yr today · 39 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,548
• − Mortgage interest: −$6,162
• − Property taxes: −$814
• − Insurance: −$550
• − Repairs & maintenance: −$1,164
• − Management: −$1,164
• − Depreciation: −$3,200
• Taxable income: $1,494
• Est. tax owed @ 24.0%: −$359
• After-tax cash flow: $2,848/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 — Altamont

• Score: 65/100
• State rank: #195
• US rank: #12638

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Altamont, OR
• County: Klamath County · 56,186 people
• Metro: Klamath Falls, OR
• Population (ZIP): 33,222
• Household income: $66,937
• Rent vs Own: 29.7% rent · 70.3% own
• Severe rent burden: 1147.0

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 (73%)
• Race & ethnicity: White 73% Hispanic / Latino 15% Two or more races 13% Native American 2%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Portuguese 5% Italian 4% Lithuanian 3%
• Foreign-born: 4% · Canada, China
• Languages at home: 91% English-only · Spanish 7%

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: ▼ -122.75%
• Current HPI: 198.1814
• Rent YoY: ▲ 3.80%
• 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

1 event — show timeline

• 2026-03-04 Listed $110,000 MLSCO

Property tax history

+2.9%/yr

Latest (2025): $814 · +2.6% YoY. Source: county tax records.