1435 Ventana Ct

Coos Bay, OR 97420

$94,500B-

2 bd · 1.0 ba · 784 sqft · Built 1990 · MultiFamily · Pending · 78 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,833/mo
• Mortgage (P&I): −$496
• Tax + insurance: −$77
• HOA: −$0
• Vac / Maint / Mgmt: −$595
• Net cashflow: $1,666/mo
• Annual: $19,988/yr
• Cap rate: 27.44%
• Cash-on-cash: 75.54%
• DSCR: 4.36
• 1% rule: 3.00%
• Cash to close: $26,460

Investor read

• This is a 2-bed/1.0-bath multifamily listed at $94k.
• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $94k).
• It's been on market 78 days — a 6% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $89k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $653 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#257 in OR) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: schools D, crime 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.
• Market conditions: Rents rising fast (+8.7%/yr); 342 active listings in the ZIP; 7 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; 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.
• 3 sale attempts since 21y ago; this cycle's ask has dropped $24k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $26k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 27.4% vs local median 4.2% in Coos Bay — 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 $2,833/mo this rent would consume 55% 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

• It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• 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 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?
• 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?
• 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.
• 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.
• 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.