1940 Fremont St · Klamath Falls, OR 97601

$100,000

2 bd · 1.0 ba · 864 sqft · SingleFamily public records · 101 Days on market

Built 1922 4,356 sqft lot $116/sqft · 52% below area

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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 +24.1/30.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Livability +3.9/5.0
• Rent growth +3.3/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

ATTENTION INVESTORS: OPPORTUNITY KNOCKS IN THE BEAUTIFUL PACIFIC TERRACE NEIGHBORHOOD! This property is directly across from Roosevelt elementary and has the advantages of SERIOUS INCOME POTENTIAL! Zoned SF which allows a Duplex. This lot is 0.10 and the lot next door @ 1938 Fremont is also for sale, you could have 2 contiguous lots and 2 duplexes! The duplex is a simulated photo in MLS

Key facts

• Income potential
• Build multi units
• Contiguous lots

Tags

• HIGHLY DESIRED NEIGHBORHOOD
• INCOME POTENTIAL
• ZONED SINGLE FAMILY
• BUILD MULTI UNITS
• CONTIGUOUS LOTS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $198 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $91k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 3.4% in Klamath Falls — 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 78/100 on livability (#67 in OR, #2,703 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D-, crime F, employment F.
• Klamath Falls City Schools (town): math 26% / reading 40% proficiency, ranked #36 of 58 in OR (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.1%/yr); 493 active listings in the ZIP; 12 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 $691 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.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $84k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $91,000 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1922 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. 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: 1.08% ✓
• Cap rate: 8.66%
• Cash-on-cash: 8.47%
• DSCR: 1.38
• GRM: 7.7

CMA / ARV

• ARV (median comp): $209,818
• List price: $100,000
• Delta: -52.34%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1829 Lancaster Ave	0.40mi	2/1.0	842 (-2%)	6mo	$195,000	$232	72
2015 Herbert St	0.65mi	2/1.0	868 (+0%)	8mo	$128,000	$147	62
1815 Earle St	0.29mi	2/1.5	939 (+9%)	12mo	$247,000	$263	60
1801 Last St	0.62mi	2/1.0	792 (-8%)	9mo	$189,000	$239	50
208 Mortimer St	0.59mi	2/1.0	776 (-10%)	9mo	$180,000	$232	48
1802 Johnson Ave	0.33mi	2/1.0	768 (-11%)	21mo	$120,000	$156	48
1825 Lancaster Ave	0.40mi	2/1.0	772 (-11%)	22mo	$194,000	$251	45
1600 Johnson Ave	0.37mi	2/1.0	744 (-14%)	18mo	$210,000	$282	45
420 N 10th St	0.71mi	2/1.0	748 (-13%)	8mo	$192,000	$257	38
129 Hillside Ave	0.73mi	2/1.0	744 (-14%)	9mo	$185,000	$249	36

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 · 3.12% rent growth · sell at horizon

5-year hold

• IRR: -3.3%
• Equity multiple: 0.88×
• Total profit: $-3,497
• Equity at exit: $14,910

10-year hold

• IRR: 6.5%
• Equity multiple: 1.49×
• Total profit: $13,676
• Equity at exit: $8,646

Cash invested: $28,000 (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 97601

• Home prices YoY: -3.7%
• Rents YoY: 3.1%
• Active inventory: 493
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,082 high
• Mortgage (P&I): −$524
• Tax from tax record: −$91 /mo · $1,098/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $198

Break-even live

Break-even rent $832

Max offer price $100,000

Occupancy floor 77%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
729-731 N 11th St Klamath Falls, OR	2.0	1.0	945	$1,250	$1.32	43d	1	0.65mi
123 Mortimer St Klamath Falls, OR	1.0	1.0	750	$899	$1.20	43d	1	0.66mi
233 Old Fort Rd Klamath Falls, OR	2.0	1.0	1050	$1,250	$1.19	43d	1	0.74mi
632 Lytton St Unit 630 Klamath Falls, OR	2.0	1.0	792	$950	$1.20	43d	1	0.76mi
230 S 11th St Klamath Falls, OR	2.0	1.0	498	$1,100	$2.21	43d	1	0.82mi
240 E Main St Unit 1 Klamath Falls, OR	1.0	1.5	750	$975	$1.30	43d	1	0.88mi
708 Jefferson St Klamath Falls, OR	2.0	1.0	800	$1,050	$1.31	43d	1	0.89mi
151 N Williams Ave Klamath Falls, OR	1.0–2.0	1.0–2.0	485	$1,950	$4.02	43d	1	0.92mi
104 S Williams Ave Unit A Klamath Falls, OR	3.0	2.0	800	$1,295	$1.62	43d	1	0.93mi
223 N 6th St Klamath Falls, OR	1.0	1.0	650	$935	$1.44	43d	2	0.97mi
234 N 3rd St Unit 1 Klamath Falls, OR	2.0	1.0	791	$1,200	$1.52	43d	1	1.16mi
2041 Vine Ave Unit 1 Klamath Falls, OR	1.0	1.0	950	$725	$0.76	43d	1	1.18mi

Listing history 21 events

1. 2026-06-19
   days on market $100,000 Active 101 DOM
2. 2026-06-18
   days on market $100,000 Active 100 DOM
3. 2026-06-17
   days on market $100,000 Active 99 DOM
4. 2026-06-16
   days on market $100,000 Active 98 DOM
5. 2026-06-15
   days on market $100,000 Active 97 DOM
6. 2026-06-14
   days on market $100,000 Active 95 DOM
7. 2026-06-12
   days on market $100,000 Active 94 DOM
8. 2026-06-09
   days on market $100,000 Active 91 DOM
9. 2026-06-08
   days on market $100,000 Active 90 DOM
10. 2026-06-07
    days on market $100,000 Active 89 DOM
11. 2026-06-05
    days on market $100,000 Active 86 DOM
12. 2026-06-03
    days on market $100,000 Active 85 DOM
13. 2026-06-03
    remarks 431-char remark
14. 2026-06-02
    days on market $100,000 Active 84 DOM
15. 2026-06-01
    days on market $100,000 Active 83 DOM
16. 2026-05-31
    days on market $100,000 Active 82 DOM
17. 2026-05-30
    days on market $100,000 Active 81 DOM
18. 2026-03-10
    listed $125,000 Active 390-char remark

    Show marketing remark (390 chars)

    ATTENTION INVESTORS: OPPORTUNITY KNOCKS IN THE BEAUTIFUL PACIFIC TERRACE NEIGHBORHOOD! This property is directly across from Roosevelt elementary and has the advantages of SERIOUS INCOME POTENTIAL! Zoned SF which allows a Duplex. This lot is 0.10 and the lot next door @ 1938 Fremont is also for sale, you could have 2 contiguous lots and 2 duplexes! The duplex is a simulated photo in MLS

19. 2005-08-25
    soldstatus $84,000
20. 1990-05-01
    soldstatus $28,000
21. 1972-08-01
    soldstatus $7,500

ⓘ 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: $1,098 · $91/mo
• Projected year-2 tax: $1,098 · $91/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥91°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 29 unhealthy d/yr today · 31 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,989
• − Mortgage interest: −$5,602
• − Property taxes: −$1,098
• − Insurance: −$500
• − Repairs & maintenance: −$1,039
• − Management: −$1,039
• − Depreciation: −$2,909
• Taxable income: $802
• Est. tax owed @ 24.0%: −$193
• After-tax cash flow: $2,178/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 Falls City Schools
• NCES district ID: 4107080
• Math proficiency: 26% ▼ -6.00%
• Reading proficiency: 40% ▼ -3.00%
• Median HH income: $34,329
• Composite: 27.14/100
• National rank: #7033
• State rank: #36 of 58 in OR

Livability — Klamath Falls

• Score: 78/100
• State rank: #67
• US rank: #2703

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Klamath Falls, OR
• County: Klamath County · 56,186 people
• City population: 56,186
• Metro: Klamath Falls, OR
• Population (ZIP): 22,964
• Household income: $51,780
• Rent vs Own: 40.0% rent · 60.0% own
• Severe rent burden: 1323.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 12% Two or more races 10% Native American 3% Asian 2%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Lithuanian 4% Slovak 3% Portuguese 2%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 6%

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: ▼ -14.37%
• Current HPI: 372.5418
• Rent YoY: ▲ 3.12%
• 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

+1566.7% since first listed

4 events — show timeline

• 2026-03-10 Listed $125,000 MLSCO
• 2005-08-25 Sold (Public Records) $84,000 Public Records
• 1990-05-01 Sold (Public Records) $28,000 Public Records
• 1972-08-01 Sold (Public Records) $7,500 Public Records

Property tax history

+4.2%/yr

Latest (2025): $1,098 · +2.4% YoY. Source: county tax records.