3500 Summers Ln · Altamont, OR 97603

$59,000

3 bd · 2.0 ba · 1,464 sqft · SingleFamily public records · 24 Days on market

Built 1993 ↓ 50% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.5/5.0
• Livability +3.2/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Modern wood home in great condition in 55+ mobile home park. Finished shed about 9x9.

Key facts

• Wood home
• Finished shed
• Built 1993

Tags

• WOOD HOME
• FINISHED SHED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $59k.

Deal economics

• At list price, monthly cash flow is $908 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $59k).
• Recommended offer: $58k (1.5% below list) — sets the bar for market timing.
• Cap rate 24.8% 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; 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; 232 units permitted in Klamath County in 2024 (72 in 5+ unit buildings).
• This rent runs 32% of the median local income ($67k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $408 of loan paydown is wiped out by about $2k 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 $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 20 sale attempts since 21y 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.
• Current owner paid $34k; list at $59k implies a 74% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price.

Recommended offer $58,115 (1.5% below list)

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 3.00% ✓
• Cap rate: 24.76%
• Cash-on-cash: 65.96%
• DSCR: 3.93
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $291,336
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4625 Laverne Ave	0.35mi	3/2.0	1,525 (+4%)	7mo	$365,000	$239	71
4107 Bisbee St	0.46mi	2/2.0 (-1)	1,485 (+1%)	2mo	$145,000	$98	70
4334 Laverne Ave	0.23mi	3/1.0	1,548 (+6%)	8mo	$300,000	$194	69
3854 Summers Ln	0.20mi	2/1.0 (-1)	1,331 (-9%)	1mo	$270,000	$203	66
3744 Laverne Ave	0.26mi	3/2.0	1,676 (+14%)	8mo	$334,000	$199	57
3964 Clinton Ave	0.24mi	4/1.0 (+1)	1,256 (-14%)	1mo	$150,000	$119	55
4612 Villa Dr	0.61mi	3/2.0	1,326 (-9%)	2mo	$292,000	$220	54
4003 Mazama Dr	0.48mi	3/2.0	1,260 (-14%)	2mo	$317,000	$252	53
3423 Altamont Dr	0.45mi	3/2.0	1,660 (+13%)	8mo	$310,000	$187	50
4032 Kelley Dr	0.69mi	3/1.0	1,377 (-6%)	6mo	$170,000	$123	49
4702 Summers Ln	0.70mi	3/1.0	1,332 (-9%)	6mo	$249,500	$187	43
4514 Summers Ln	0.61mi	2/2.0 (-1)	1,249 (-15%)	7mo	$270,000	$216	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 · 3.8% rent growth · sell at horizon

5-year hold

• IRR: 66.2%
• Equity multiple: 4.01×
• Total profit: $49,787
• Equity at exit: $8,797

10-year hold

• IRR: 70.7%
• Equity multiple: 8.51×
• Total profit: $124,121
• Equity at exit: $5,101

Cash invested: $16,520 (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: 2.8×

Monthly cashflow live

• Estimated rent: $1,768 high
• Mortgage (P&I): −$309
• Tax from tax record: −$155 /mo · $1,857/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $908

Break-even live

Break-even rent $619

Max offer price $59,000

Occupancy floor 44%

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4306 Fargo St Klamath Falls, OR	3.0	2.0	1288	$1,850	$1.44	43d	1	0.49mi
4195 Bristol Ct Klamath Falls, OR	2.0	1.0	1080	$1,350	$1.25	43d	1	0.49mi
4305 Altamont Dr Klamath Falls, OR	4.0	2.0	1712	$2,300	$1.34	43d	1	0.62mi
3823 Kelley Dr Klamath Falls, OR	3.0	3.0	1600	$2,000	$1.25	43d	1	0.67mi
3039 Kane St Klamath Falls, OR	3.0	2.0	988	$1,395	$1.41	43d	1	0.79mi
4831 Darwin Pl Klamath Falls, OR	3.0	1.0	1092	$1,475	$1.35	43d	1	0.79mi
2439 Homedale Rd Klamath Falls, OR	3.0	1.0	1320	$1,400	$1.06	43d	1	1.13mi

Listing history 50 events

1. 2026-06-19
   days on market $59,000 Active 24 DOM
2. 2026-06-18
   days on market $59,000 Active 23 DOM
3. 2026-06-17
   days on market $59,000 Active 22 DOM
4. 2026-06-16
   days on market $59,000 Active 21 DOM
5. 2026-06-15
   days on market $59,000 Active 20 DOM
6. 2026-06-14
   days on market $59,000 Active 18 DOM
7. 2026-06-12
   days on market $59,000 Active 17 DOM
8. 2026-06-09
   days on market $59,000 Active 14 DOM
9. 2026-06-08
   days on market $59,000 Active 13 DOM
10. 2026-06-07
    days on market $59,000 Active 12 DOM
11. 2026-06-05
    days on market $59,000 Active 9 DOM
12. 2026-06-02
    days on market $59,000 Active 7 DOM
13. 2026-06-01
    days on market $59,000 Active 6 DOM
14. 2026-05-31
    days on market $59,000 Active 5 DOM
15. 2026-05-30
    days on market $59,000 Active 4 DOM
16. 2026-05-26
    listed $59,000 Active
17. 2022-05-18
    price $1,400
18. 2020-04-27
    historical
19. 2020-04-25
    historical
20. 2018-08-10
    soldstatus $34,000
21. 2018-08-10
    listed $36,000
22. 2015-07-21
    soldstatus $16,500
23. 2015-07-01
    listed $16,500
24. 2014-11-07
    listed $27,900
25. 2014-10-30
    soldstatus $13,500
26. 2014-09-29
    listed $14,000
27. 2014-02-24
    soldstatus $8,500
28. 2014-01-30
    soldstatus $22,000
29. 2014-01-16
    soldstatus $14,999
30. 2014-01-14
    listed $22,000
31. 2013-12-30
    listed $10,000
32. 2013-11-23
    listed $14,999
33. 2013-08-14
    soldstatus $16,000
34. 2013-08-12
    soldstatus $13,000
35. 2013-07-11
    listed $16,900
36. 2013-06-11
    listed $13,000
37. 2013-05-15
    soldstatus $18,500
38. 2013-05-03
    soldstatus $14,700
39. 2013-04-29
    soldstatus $18,000
40. 2013-02-26
    soldstatus $15,500
41. 2013-02-06
    listed $15,500
42. 2012-11-14
    soldstatus $20,000
43. 2012-10-17
    soldstatus $13,000
44. 2012-09-26
    listed $13,500
45. 2012-09-14
    listed $19,900
46. 2012-09-13
    listed $22,000
47. 2012-08-02
    listed $18,000
48. 2012-07-03
    soldstatus $10,250
49. 2012-07-02
    listed $28,900
50. 2012-03-26
    soldstatus $15,000

ⓘ 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: $1,857 · $155/mo
• Projected year-2 tax: $1,857 · $155/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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥90°F today · 16 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: $21,218
• − Mortgage interest: −$3,305
• − Property taxes: −$1,857
• − Insurance: −$295
• − Repairs & maintenance: −$1,697
• − Management: −$1,697
• − Depreciation: −$1,716
• Taxable income: $10,649
• Est. tax owed @ 24.0%: −$2,556
• After-tax cash flow: $8,341/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 — 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

-49.6% since first listed

41 events — show timeline

• 2026-05-26 Listed $59,000 FSBO.com
• 2022-05-18 Price Changed $1,400 RENT.
• 2020-04-27 Listing Removed — MLSCO
• 2020-04-25 Listing Removed — MLSCO
• 2018-08-10 Listed $36,000 MLSCO
• 2018-08-10 Sold (MLS) $34,000 MLSCO
• 2015-07-21 Sold (MLS) $16,500 MLSCO
• 2015-07-01 Listed $16,500 MLSCO
• 2014-11-07 Listed $27,900 MLSCO
• 2014-10-30 Sold (MLS) $13,500 MLSCO
• 2014-09-29 Listed $14,000 MLSCO
• 2014-02-24 Sold (MLS) $8,500 MLSCO
• 2014-01-30 Sold (MLS) $22,000 MLSCO
• 2014-01-16 Sold (MLS) $14,999 MLSCO
• 2014-01-14 Listed $22,000 MLSCO
• 2013-12-30 Listed $10,000 MLSCO
• 2013-11-23 Listed $14,999 MLSCO
• 2013-08-14 Sold (MLS) $16,000 MLSCO
• 2013-08-12 Sold (MLS) $13,000 MLSCO
• 2013-07-11 Listed $16,900 MLSCO
• 2013-06-11 Listed $13,000 MLSCO
• 2013-05-15 Sold (MLS) $18,500 MLSCO
• 2013-05-03 Sold (MLS) $14,700 MLSCO
• 2013-04-29 Sold (MLS) $18,000 MLSCO
• 2013-02-26 Sold (MLS) $15,500 MLSCO
• 2013-02-06 Listed $15,500 MLSCO
• 2012-11-14 Sold (MLS) $20,000 MLSCO
• 2012-10-17 Sold (MLS) $13,000 MLSCO
• 2012-09-26 Listed $13,500 MLSCO
• 2012-09-14 Listed $19,900 MLSCO
• 2012-09-13 Listed $22,000 MLSCO
• 2012-08-02 Listed $18,000 MLSCO
• 2012-07-03 Sold (MLS) $10,250 MLSCO
• 2012-07-02 Listed $28,900 MLSCO
• 2012-03-26 Sold (MLS) $15,000 MLSCO
• 2011-12-13 Listed $11,000 MLSCO
• 2011-10-24 Listed $15,000 MLSCO
• 2010-01-21 Listed $16,500 MLSCO
• 2005-08-22 Sold (MLS) $26,000 MLSCO
• 2005-06-07 Listed $26,500 MLSCO
• 2004-06-29 Sold (Public Records) $117,000 Public Records

Property tax history

+2.8%/yr

Latest (2025): $1,857 · +2.7% YoY. Source: county tax records.