52312 5th St · Fort Klamath, OR 97626

$85,000

2 bd · 1.0 ba · 1,014 sqft · SingleFamily public records · 84 Days on market

Built 1920 0.28 ac lot $84/sqft · 64% below area

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Why this score? — see what drove the B 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Reconstruction Opportunity in this 1920 single-story home on . 28 acres, mid-remodel with upgrades needed--ideal for investors, contractors, or DIY buyers. Features include vinyl windows, newer water heater, wood stove, portable AC, portable heater, and space for a stacked washer/dryer in the bathroom, 2 decks (Trex). Three outbuildings provide storage or workspace, and all items in the home and sheds are included for a true project-ready start. Located in the historic community of Fort Klamath near the Wood River and just 5 miles from Crater Lake National Park, a peaceful setting, surrounded by ranchland, rivers, and wide-open mountain views.

Key facts

• Three outbuildings
• Vinyl windows
• Wood stove

Tags

• VINYL WINDOWS
• NEWER WATER HEATER
• WOOD STOVE
• SPACE FOR STACKED WASHER DRYER
• 2 DECKS
• THREE OUTBUILDINGS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $347 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $80k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• 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: 3 active listings in the ZIP; 232 units permitted in Klamath County in 2024 (72 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($588 loan paydown + $3k appreciation (3.0% local appreciation)).
• 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 + 3.0% rent growth), your $24k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 16y ago; this cycle's ask has dropped $45k (35%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $85k implies a 240% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $79,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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. 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: 1.27% ✓
• Cap rate: 11.20%
• Cash-on-cash: 17.52%
• DSCR: 1.78
• GRM: 6.6

CMA / ARV

• ARV (median comp): $235,732
• List price: $85,000
• Delta: -63.94%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
52359 N Klamath St	0.04mi	3/1.0 (+1)	996 (-2%)	11mo	$69,900	$70	82

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.9%
• Equity multiple: 2.36×
• Total profit: $32,335
• Equity at exit: $38,220

10-year hold

• IRR: 24.8%
• Equity multiple: 4.53×
• Total profit: $84,062
• Equity at exit: $58,901

Cash invested: $23,800 (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 97626

• Active inventory: 3
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,079 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$24 /mo · $286/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $347

Break-even live

Break-even rent $639

Max offer price $85,000

Occupancy floor 63%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $85,000 Active 84 DOM
2. 2026-06-18
   days on market $85,000 Active 83 DOM
3. 2026-06-17
   days on market $85,000 Active 82 DOM
4. 2026-06-17
   price $85,000 Active 81 DOM
5. 2026-06-16
   days on market $105,000 Active 81 DOM
6. 2026-06-15
   days on market $105,000 Active 80 DOM
7. 2026-06-14
   days on market $105,000 Active 78 DOM
8. 2026-06-12
   days on market $105,000 Active 77 DOM
9. 2026-06-09
   days on market $105,000 Active 74 DOM
10. 2026-06-08
    days on market $105,000 Active 73 DOM
11. 2026-06-07
    days on market $105,000 Active 72 DOM
12. 2026-06-05
    days on market $105,000 Active 69 DOM
13. 2026-06-02
    days on market $105,000 Active 67 DOM
14. 2026-06-01
    days on market $105,000 Active 66 DOM
15. 2026-05-31
    days on market $105,000 Active 65 DOM
16. 2026-05-30
    days on market $105,000 Active 64 DOM
17. 2026-04-30
    price $105,000 651-char remark

    Show marketing remark (651 chars)

    Reconstruction Opportunity in this 1920 single-story home on . 28 acres, mid-remodel with upgrades needed--ideal for investors, contractors, or DIY buyers. Features include vinyl windows, newer water heater, wood stove, portable AC, portable heater, and space for a stacked washer/dryer in the bathroom, 2 decks (Trex). Three outbuildings provide storage or workspace, and all items in the home and sheds are included for a true project-ready start. Located in the historic community of Fort Klamath near the Wood River and just 5 miles from Crater Lake National Park, a peaceful setting, surrounded by ranchland, rivers, and wide-open mountain views.

18. 2026-03-27
    listed $130,000 Active 651-char remark

    Show marketing remark (651 chars)

    Reconstruction Opportunity in this 1920 single-story home on . 28 acres, mid-remodel with upgrades needed--ideal for investors, contractors, or DIY buyers. Features include vinyl windows, newer water heater, wood stove, portable AC, portable heater, and space for a stacked washer/dryer in the bathroom, 2 decks (Trex). Three outbuildings provide storage or workspace, and all items in the home and sheds are included for a true project-ready start. Located in the historic community of Fort Klamath near the Wood River and just 5 miles from Crater Lake National Park, a peaceful setting, surrounded by ranchland, rivers, and wide-open mountain views.

19. 2017-07-24
    soldstatus $25,000 339-char remark

    Show marketing remark (339 chars)

    Bring you tools this property is in need of work. Hold harmless paper is in associate docs and needs signed prior to showing. Some work has been started. Large lot several out buildings. Owner/Agent have no documentation regarding water or sewer (well or septic). Buyer to do their own due diligence regarding information on this property.

20. 2017-06-07
    listed $25,000 339-char remark

    Show marketing remark (339 chars)

    Bring you tools this property is in need of work. Hold harmless paper is in associate docs and needs signed prior to showing. Some work has been started. Large lot several out buildings. Owner/Agent have no documentation regarding water or sewer (well or septic). Buyer to do their own due diligence regarding information on this property.

21. 2010-07-16
    soldstatus $35,000
22. 2010-05-15
    listed $49,000

ⓘ 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: $286 · $24/mo
• Projected year-2 tax: $824 · $69/mo
• Expected delta: +$539/yr (+$45/mo · 188.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X · 18% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 2/10 Low 7 d/yr ≥89°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 18 unhealthy d/yr today · 22 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,948
• − Mortgage interest: −$4,761
• − Property taxes: −$286
• − Insurance: −$425
• − Repairs & maintenance: −$1,036
• − Management: −$1,036
• − Depreciation: −$2,473
• Taxable income: $2,932
• Est. tax owed @ 24.0%: −$704
• After-tax cash flow: $3,466/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 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 — Fort Klamath

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Fort Klamath, OR
• Population (ZIP): 238

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 (98%)
• Race & ethnicity: White 98% Hispanic / Latino 2%
• Common ancestry: Portuguese 12% Iranian 6% Serbian 3%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2%

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: —
• Current HPI: —
• 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

+114.3% since first listed

6 events — show timeline

• 2026-04-30 Price Changed $105,000 MLSCO
• 2026-03-27 Listed $130,000 MLSCO
• 2017-07-24 Sold (MLS) $25,000 MLSCO
• 2017-06-07 Listed $25,000 MLSCO
• 2010-07-16 Sold (MLS) $35,000 MLSCO
• 2010-05-15 Listed $49,000 MLSCO

Property tax history

+3.0%/yr

Latest (2025): $286 · +2.6% YoY. Source: county tax records.