195 17th St SE · Bandon, OR 97411

$389,000

9 bd · 9.0 ba · 1,368 sqft · MultiFamily · 23 Days on market

Built 1931 7,840 sqft lot

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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).

• Cash flow +24.9/30.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Schools +4.3/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Excellent investment opportunity with commercial zoning in Bandon. Located in an opportunity and enterprise zone! This triplex features three 1 bedroom, 1 bathroom units with a historically strong rental history and low vacancy rates. The upstairs unit is currently vacant for viewing, adding additional flexibility for buyers to occupy if desired!Conveniently located just off Highway 101 and only minutes from Old Town Bandon, shopping, restaurants, and some of the Oregon Coast’s most beautiful beaches. Plenty of onsite parking makes this an attractive and practical property for both tenants and owners alike. Units offer functional layouts with laminate and vinyl flooring, included appl

Key facts

• Onsite parking
• Opportunity zone
• Included appliances

Tags

• COMMERCIAL ZONING
• OPPORTUNITY ZONE
• VACANT UNIT
• ONSITE PARKING
• FUNCTIONAL LAYOUTS
• INCLUDED APPLIANCES

Property features AI

Finance

• Other: Total building area reported as 1,368
• Financial info: Property configured as 3 units; Unit rents reported as approximately $1,200, $1,210, and $1,200 respectively; Gross rent multiplier: 13.45; Cap rate: 5.04; Typical rent responsibilities include electricity, grounds maintenance, sewer, trash collection, and water (these are listed as rent-included items)
• HOA & community: Zoned C-2

Exterior

• Parking: Off-street parking; RV access/parking; Space for 8 vehicles total
• Utilities: Public water; Public sewer; Fiber optics internet availability; Electric service (fuel for water heater and other systems)
• Home design: Multi-family property; Not attached to another building; Built in 1931
• Construction: Composition roof
• Exterior features: T-111 siding; Level lot; Paved road access

Interior

• Kitchen: Each unit includes a range and refrigerator
• Bedrooms: Three 1-bedroom units (each unit listed with its level not provided)
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Wall heater heating; No central cooling
• Interior features: Wall heaters
• Laundry & utility: Electric hot water with tank

What this means for you Summary

Snapshot

• This is a 3 × 1-bed/1-bath units multifamily listed at $389k.

Deal economics

• At list price, monthly cash flow is $830 ($10k/yr) — positive. Per door: $277/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $389k).
• Recommended offer: $383k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 2.3% in Bandon — 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 75/100 on livability (#89 in OR, #4,357 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A+, amenities A; Watch: commute F, employment D-.
• Bandon SD 54 (town): math 42% / reading 57% proficiency, ranked #51 of 183 in OR (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ocean Crest Elementary School (math 50% / reading 50%, grade D, #108 of 412 statewide, top 31%, 259 students, 68% FRL); Harbor Lights Middle School (math 24% / reading 42%, grade F, #74 of 128 statewide, top 58%, 207 students, 65% FRL); Bandon Senior High School (math 24% / reading 75%, grade D+, #32 of 143 statewide, top 34%, 205 students, 32% FRL) — zoned schools at 55% FRL track the district average.
• Market conditions: 180 active listings in the ZIP; 122 units permitted in Coos County in 2024 (16 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($383k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 24y 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 $135k; list at $389k implies a 188% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1931 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $383,165 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1931 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.14% ✓
• Cap rate: 8.85%
• Cash-on-cash: 9.15%
• DSCR: 1.41
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -2.5%
• Equity multiple: 0.91×
• Total profit: $-10,081
• Equity at exit: $58,001

10-year hold

• IRR: 7.3%
• Equity multiple: 1.55×
• Total profit: $59,595
• Equity at exit: $33,634

Cash invested: $108,920 (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 97411

• Active inventory: 180
• Price-to-rent: 21.8×

Monthly cashflow live

• Estimated rent: $4,454 medium
• Mortgage (P&I): −$2,040
• Tax est. 1.5%: −$486 /mo · $5,835/yr
• Insurance: −$162
• HOA: −$0
• Vacancy / Maint / Mgmt: −$935
• Net cashflow: $830

Break-even live

Break-even rent $3,403

Max offer price $389,000

Occupancy floor 76%

Sensitivity live

Price	-10% $1,099	-5% $965	+0% $830	+5% $696	+10% $562
Rent	-10% $479	-5% $654	+0% $830	+5% $1,006	+10% $1,182
Rate	-1.0pp $1,026	-0.5pp $929	base $830	+0.5pp $730	+1.0pp $627

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$4,455
Total (3 units)			$4,454

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: $97,250
• Closing costs: $11,670
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $389,000 Active 23 DOM
2. 2026-06-18
   days on market $389,000 Active 22 DOM
3. 2026-06-17
   days on market $389,000 Active 21 DOM
4. 2026-06-16
   days on market $389,000 Active 20 DOM
5. 2026-06-15
   days on market $389,000 Active 19 DOM
6. 2026-06-14
   days on market $389,000 Active 17 DOM
7. 2026-06-12
   days on market $389,000 Active 16 DOM
8. 2026-06-09
   days on market $389,000 Active 13 DOM
9. 2026-06-08
   days on market $389,000 Active 12 DOM
10. 2026-06-07
    days on market $389,000 Active 11 DOM
11. 2026-06-07
    days on market $389,000 Active 10 DOM
12. 2026-06-03
    days on market $389,000 Active 7 DOM
13. 2026-06-02
    days on market $389,000 Active 6 DOM
14. 2026-06-01
    days on market $389,000 Active 5 DOM
15. 2026-05-31
    days on market $389,000 Active 4 DOM
16. 2026-05-30
    days on market $389,000 Active 3 DOM
17. 2026-05-27
    listed $389,000 Active
18. 2002-12-09
    soldstatus $135,000
19. 2002-06-01
    listed $159,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥73°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $53,448
• − Mortgage interest: −$21,790
• − Property taxes: −$5,835
• − Insurance: −$1,945
• − Repairs & maintenance: −$4,276
• − Management: −$4,276
• − Depreciation: −$11,316
• Taxable income: $4,010
• Est. tax owed @ 24.0%: −$962
• After-tax cash flow: $9,002/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: Bandon SD 54
• NCES district ID: 4101800
• Math proficiency: 42% ▲ 8.00%
• Reading proficiency: 57% ▲ 3.00%
• Median HH income: $36,466
• Composite: 43.09/100
• National rank: #6628
• State rank: #51 of 183 in OR

Livability — Bandon

• Score: 75/100
• State rank: #89
• US rank: #4357

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bandon, OR
• Population (ZIP): 7,629

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 (91%)
• Race & ethnicity: White 91% Two or more races 7% Hispanic / Latino 2%
• Common ancestry: Lithuanian 5% Italian 4% Slovak 4%
• Foreign-born: 2% · Canada

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: ▼ -139.34%
• Current HPI: 196.1152
• 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

+143.3% since first listed

3 events — show timeline

• 2026-05-27 Listed $389,000 RMLS
• 2002-12-09 Sold (MLS) $135,000 RMLS
• 2002-06-01 Listed $159,900 RMLS