63776 Flanagan Rd

Bunker Hill, OR 97420

$324,999D-

5 bd · 1.0 ba · 1,040 sqft · Built 1913 · SingleFamily · Active · 222 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,370/mo
• Mortgage (P&I): −$1,704
• Tax + insurance: −$282
• HOA: −$0
• Vac / Maint / Mgmt: −$498
• Net cashflow: $-114/mo
• Annual: $-1,373/yr
• Cap rate: 5.87%
• Cash-on-cash: -1.51%
• DSCR: 0.93
• 1% rule: 0.73%
• Cash to close: $91,000

Investor read

• This is a 5-bed/1.0-bath single-family listed at $325k.
• At list price, monthly cash flow is $-114 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $305k (6.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $237k (27.1% below list).
• It's been on market 222 days — a 12% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $237k (27.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#171 in OR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety C-, schools F, amenities 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.
• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+8.7%/yr); 342 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 $73k; list at $325k implies a 345% gain — meaningful room to come down on a strong offer.
• Cap rate 5.9% vs local median 3.4% in Bunker Hill — 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.
• At $2,370/mo this rent would consume 46% 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 222 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
• Built in 1913 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.