4647 Winter Ave Spc 81 · Altamont, OR 97603

$130,000

3 bd · 2.0 ba · 1,173 sqft · Manufactured · 66 Days on market

Built 2024 Good condition $111/sqft · 36% above area Est $96k · 36% over ↓ 4% since listing

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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 +27.9/30.0
• DSCR +9.8/10.0
• 1% rule +6.6/10.0
• Condition / age +4.0/5.0
• Rent growth +3.5/5.0
• Livability +3.2/5.0
• Schools +2.5/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Why wait on finishing touches? This 2024 manufactured home in a park is already move-in ready with a soft, modern color palette and a well-built, insulated feel throughout. Tucked away in a quiet neighborhood, it offers an open living space that flows into a welcoming kitchen featuring a farmhouse sink and a convenient breakfast counter--perfect for casual meals or entertaining. The primary suite is a relaxing retreat with a walk-in closet and a spacious primary bathroom, complete with a large tub/shower combo unit. You'll also appreciate the easy-access laundry room, plus the attached carport and concrete driveway for everyday convenience.

Key facts

• Move-in ready
• Walk-in closet
• Open living space

Tags

• MOVE-IN READY
• QUIET NEIGHBORHOOD
• OPEN LIVING SPACE
• FARMHOUSE SINK
• BREAKFAST COUNTER
• WALK-IN CLOSET

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $130k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $399 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $122k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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; 9 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; 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 $899 of loan paydown is wiped out by about $4k 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 $36k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.

Recommended offer $122,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.16% ✓
• Cap rate: 9.97%
• Cash-on-cash: 13.14%
• DSCR: 1.58
• GRM: 7.2

CMA / ARV

• ARV (median comp): $95,750
• List price: $130,000
• Delta: 35.77%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4647 Winter Ave #78	0.00mi	3/2.0	1,173 (0%)	3mo	$125,000	$107	98
4647 Winter Ave #92	0.02mi	3/2.0	1,173 (0%)	5mo	$123,000	$105	95
4647 Winter Ave Spc 53	0.02mi	3/2.0	1,173 (0%)	8mo	$130,000	$111	93
4647 Winter Ave Spc 65	0.00mi	3/2.0	1,144 (-2%)	6mo	$113,000	$99	91
4647 Winter Ave Spc 36	0.00mi	3/2.0	1,100 (-6%)	3mo	$86,500	$79	87
4200 Summers Ln Unit 69	0.63mi	2/2.0 (-1)	1,188 (+1%)	0mo	$72,500	$61	63
5131 Bristol Ave	0.34mi	2/2.0 (-1)	1,296 (+10%)	2mo	$168,000	$130	60
3500 Summers Ln Unit 17	0.45mi	2/2.0 (-1)	1,080 (-8%)	4mo	$69,500	$64	57
4200 Summers Ln #52	0.63mi	3/2.0	1,296 (+10%)	1mo	$89,500	$69	53
4200 Summers Ln Unit 10	0.63mi	2/2.0 (-1)	1,109 (-6%)	5mo	$75,000	$68	53
4200 Summers Ln Unit 23	0.63mi	2/2.0 (-1)	1,293 (+10%)	0mo	$95,000	$73	48
4200 Summers Ln Unit 25	0.63mi	3/2.0	1,323 (+13%)	7mo	$107,000	$81	44

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: 3.9%
• Equity multiple: 1.15×
• Total profit: $5,514
• Equity at exit: $19,383

10-year hold

• IRR: 14.1%
• Equity multiple: 2.17×
• Total profit: $42,445
• Equity at exit: $11,240

Cash invested: $36,400 (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: 7.2×

Monthly cashflow live

• Estimated rent: $1,510 high
• Mortgage (P&I): −$682
• Tax from tax record: −$59 /mo · $703/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $399

Break-even live

Break-even rent $1,006

Max offer price $130,000

Occupancy floor 69%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4195 Bristol Ct Klamath Falls, OR	2.0	1.0	1080	$1,350	$1.25	44d	1	0.29mi
3039 Kane St Klamath Falls, OR	3.0	2.0	988	$1,395	$1.41	44d	1	0.49mi
4306 Fargo St Klamath Falls, OR	3.0	2.0	1288	$1,850	$1.44	44d	1	0.49mi
4519 Cannon Ave Unit 22 Klamath Falls, OR	2.0	1.0	850	$1,000	$1.18	44d	1	0.82mi
4519 Cannon Ave Apt 2 Klamath Falls, OR	2.0	1.0	850	$1,050	$1.24	44d	1	0.82mi
4831 Darwin Pl Klamath Falls, OR	3.0	1.0	1092	$1,475	$1.35	44d	1	0.83mi
4507 Cannon Ave Apt 52 Klamath Falls, OR	2.0	1.0	850	$1,000	$1.18	44d	1	0.84mi
2439 Homedale Rd Klamath Falls, OR	3.0	1.0	1320	$1,400	$1.06	44d	1	0.93mi
2160 Arthur St Unit 5 Klamath Falls, OR	2.0	1.0	740	$995	$1.34	44d	1	1.42mi

Listing history 19 events

1. 2026-06-19
   days on market $130,000 Active 66 DOM
2. 2026-06-18
   days on market $130,000 Active 65 DOM
3. 2026-06-17
   days on market $130,000 Active 64 DOM
4. 2026-06-16
   days on market $130,000 Active 63 DOM
5. 2026-06-15
   days on market $130,000 Active 62 DOM
6. 2026-06-14
   days on market $130,000 Active 60 DOM
7. 2026-06-12
   days on market $130,000 Active 59 DOM
8. 2026-06-09
   days on market $130,000 Active 56 DOM
9. 2026-06-08
   days on market $130,000 Active 55 DOM
10. 2026-06-07
    days on market $130,000 Active 54 DOM
11. 2026-06-05
    days on market $130,000 Active 51 DOM
12. 2026-06-02
    days on market $130,000 Active 49 DOM
13. 2026-06-01
    days on market $130,000 Active 48 DOM
14. 2026-05-31
    days on market $130,000 Active 47 DOM
15. 2026-05-30
    days on market $130,000 Active 46 DOM
16. 2026-04-13
    listed $130,000 Active 648-char remark

    Show marketing remark (648 chars)

    Why wait on finishing touches? This 2024 manufactured home in a park is already move-in ready with a soft, modern color palette and a well-built, insulated feel throughout. Tucked away in a quiet neighborhood, it offers an open living space that flows into a welcoming kitchen featuring a farmhouse sink and a convenient breakfast counter--perfect for casual meals or entertaining. The primary suite is a relaxing retreat with a walk-in closet and a spacious primary bathroom, complete with a large tub/shower combo unit. You'll also appreciate the easy-access laundry room, plus the attached carport and concrete driveway for everyday convenience.

17. 2024-12-31
    soldstatus $134,900 Closed 964-char remark

    Show marketing remark (964 chars)

    COMING SOON! Don't miss your chance to own a BRAND NEW home in Klamath Falls' finest manufactured housing community. This 2024 Fleetwood boasts 3 bedrooms, 2 pristine bathrooms, and a well-designed 1173 square feet of living space. The primary bedroom features a walk-in closet and an ensuite bath, perfect for your comfort. The open-concept living room and kitchen offer a seamless flow, ideal for modern living. The separate laundry area near the back door adds to the convenience. Enjoy top-of-the-line Whirlpool appliances, including a fridge, oven, and dishwasher, all in a stylish grey and white color scheme. The new LVP flooring throughout the home completes the modern look. This vibrant community includes a recreation area, secure R. V. storage, an onsite manager, and a park office. House pets are welcome with the manager's approval. For more information, visit the park's website. Please note, the actual home may vary slightly from the photos shown.

18. 2024-11-19
    status Pending 964-char remark

    Show marketing remark (964 chars)

    COMING SOON! Don't miss your chance to own a BRAND NEW home in Klamath Falls' finest manufactured housing community. This 2024 Fleetwood boasts 3 bedrooms, 2 pristine bathrooms, and a well-designed 1173 square feet of living space. The primary bedroom features a walk-in closet and an ensuite bath, perfect for your comfort. The open-concept living room and kitchen offer a seamless flow, ideal for modern living. The separate laundry area near the back door adds to the convenience. Enjoy top-of-the-line Whirlpool appliances, including a fridge, oven, and dishwasher, all in a stylish grey and white color scheme. The new LVP flooring throughout the home completes the modern look. This vibrant community includes a recreation area, secure R. V. storage, an onsite manager, and a park office. House pets are welcome with the manager's approval. For more information, visit the park's website. Please note, the actual home may vary slightly from the photos shown.

19. 2024-10-07
    listed $134,900 Active 964-char remark

    Show marketing remark (964 chars)

    COMING SOON! Don't miss your chance to own a BRAND NEW home in Klamath Falls' finest manufactured housing community. This 2024 Fleetwood boasts 3 bedrooms, 2 pristine bathrooms, and a well-designed 1173 square feet of living space. The primary bedroom features a walk-in closet and an ensuite bath, perfect for your comfort. The open-concept living room and kitchen offer a seamless flow, ideal for modern living. The separate laundry area near the back door adds to the convenience. Enjoy top-of-the-line Whirlpool appliances, including a fridge, oven, and dishwasher, all in a stylish grey and white color scheme. The new LVP flooring throughout the home completes the modern look. This vibrant community includes a recreation area, secure R. V. storage, an onsite manager, and a park office. House pets are welcome with the manager's approval. For more information, visit the park's website. Please note, the actual home may vary slightly from the photos shown.

ⓘ 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: $703 · $59/mo
• Projected year-2 tax: $1,261 · $105/mo
• Expected delta: +$558/yr (+$46/mo · 79.3%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥90°F today · 17 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: $18,125
• − Mortgage interest: −$7,282
• − Property taxes: −$703
• − Insurance: −$650
• − Repairs & maintenance: −$1,450
• − Management: −$1,450
• − Depreciation: −$3,782
• Taxable income: $2,808
• Est. tax owed @ 24.0%: −$674
• After-tax cash flow: $4,111/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This move-in ready manufactured home in Altamont, Oregon, offers a modern and well-maintained living space with good curb appeal and minimal repairs needed.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value
• Both painting — refreshes interior and exterior
• Both window treatments — improves energy efficiency and aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — enhances curb appeal and adds value ↑
• Both painting — refreshes interior and exterior ↑
• Both window treatments — improves energy efficiency and aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-3.6% since first listed

4 events — show timeline

• 2026-04-13 Listed $130,000 MLSCO
• 2024-12-31 Sold (MLS) $134,900 MLSCO
• 2024-11-19 Pending — MLSCO
• 2024-10-07 Listed $134,900 MLSCO