691 E Madison St · Burns, OR 97720

$116,990

2 bd · 1.0 ba · 1,128 sqft · SingleFamily public records · 268 Days on market

Built 1925 7,840 sqft lot $104/sqft · 31% below area Est $171k · 31% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• Livability +3.4/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This fixer-upper is full of charm and potential! Offering 2 bedrooms, 1 bath, and a spacious living room, this home has good bones with wood floors, newer windows, and a durable metal roof already in place. The attached covered parking and workshop add practicality, while the fully fenced yard, paver patio, and cute front porch bring character and outdoor appeal. Sitting on a generous corner lot, this property is ready for someone with vision to restore its charm and make it shine again. A great opportunity to create your dream home or investment! The neighboring lot is also for sale and can be purchased as a package.

Key facts

• Metal roof
• Wood floors
• Newer windows

Tags

• WOOD FLOORS
• NEWER WINDOWS
• METAL ROOF
• ATTACHED COVERED PARKING
• WORKSHOP
• FULLY FENCED YARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $117k.

Deal economics

• At list price, monthly cash flow is $35 ($417/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $117k).
• Recommended offer: $103k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#181 in OR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety C-, schools D+, amenities F.
• Harney County SD 3 (town): math 26% / reading 37% proficiency, ranked #41 of 58 in OR (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 9 active listings in the ZIP; 22 units permitted in Harney County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $808 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Harney County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 268 days — a 12% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $17k; list at $117k implies a 583% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $102,951 (12.0% below list)

Questions for the listing agent

1. It's been on market 268 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.32% ✓
• Cap rate: 11.02%
• Cash-on-cash: 16.90%
• DSCR: 1.75
• GRM: 6.3

CMA / ARV

• ARV (median comp): $170,529
• List price: $116,990
• Delta: -31.40%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -14.0%
• Equity multiple: 0.50×
• Total profit: $-16,492
• Equity at exit: $17,444

10-year hold

• IRR: -4.8%
• Equity multiple: 0.68×
• Total profit: $-10,483
• Equity at exit: $10,115

Cash invested: $32,757 (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 97720

• Home prices YoY: -5.9%
• Active inventory: 9
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,542 medium
• Mortgage (P&I): −$614
• Tax from tax record: −$94 /mo · $1,134/yr
• Insurance: −$49
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $35

Break-even live

Break-even rent $1,498

Max offer price $116,990

Occupancy floor 93%

Sensitivity live

Price	-10% $101	-5% $68	+0% $35	+5% $2	+10% $-32
Rent	-10% $-87	-5% $-26	+0% $35	+5% $96	+10% $157
Rate	-1.0pp $94	-0.5pp $64	base $35	+0.5pp $4	+1.0pp $-26

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: $29,248
• Closing costs: $3,510
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-04
   statusdays on market $116,990 Pending 268 DOM
2. 2026-06-02
   days on market $116,990 Active 267 DOM
3. 2026-06-01
   days on market $116,990 Active 266 DOM
4. 2026-05-31
   days on market $116,990 Active 265 DOM
5. 2026-03-19
   status Active 625-char remark

   Show marketing remark (625 chars)

   This fixer-upper is full of charm and potential! Offering 2 bedrooms, 1 bath, and a spacious living room, this home has good bones with wood floors, newer windows, and a durable metal roof already in place. The attached covered parking and workshop add practicality, while the fully fenced yard, paver patio, and cute front porch bring character and outdoor appeal. Sitting on a generous corner lot, this property is ready for someone with vision to restore its charm and make it shine again. A great opportunity to create your dream home or investment! The neighboring lot is also for sale and can be purchased as a package.

6. 2026-01-04
   historical Active Under Contract 625-char remark

   Show marketing remark (625 chars)

   This fixer-upper is full of charm and potential! Offering 2 bedrooms, 1 bath, and a spacious living room, this home has good bones with wood floors, newer windows, and a durable metal roof already in place. The attached covered parking and workshop add practicality, while the fully fenced yard, paver patio, and cute front porch bring character and outdoor appeal. Sitting on a generous corner lot, this property is ready for someone with vision to restore its charm and make it shine again. A great opportunity to create your dream home or investment! The neighboring lot is also for sale and can be purchased as a package.

7. 2025-11-04
   price $116,990 625-char remark

   Show marketing remark (625 chars)

   This fixer-upper is full of charm and potential! Offering 2 bedrooms, 1 bath, and a spacious living room, this home has good bones with wood floors, newer windows, and a durable metal roof already in place. The attached covered parking and workshop add practicality, while the fully fenced yard, paver patio, and cute front porch bring character and outdoor appeal. Sitting on a generous corner lot, this property is ready for someone with vision to restore its charm and make it shine again. A great opportunity to create your dream home or investment! The neighboring lot is also for sale and can be purchased as a package.

8. 2025-09-03
   listed $119,990 Active 625-char remark

   Show marketing remark (625 chars)

   This fixer-upper is full of charm and potential! Offering 2 bedrooms, 1 bath, and a spacious living room, this home has good bones with wood floors, newer windows, and a durable metal roof already in place. The attached covered parking and workshop add practicality, while the fully fenced yard, paver patio, and cute front porch bring character and outdoor appeal. Sitting on a generous corner lot, this property is ready for someone with vision to restore its charm and make it shine again. A great opportunity to create your dream home or investment! The neighboring lot is also for sale and can be purchased as a package.

9. 1987-03-01
   soldstatus $17,125

ⓘ 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: $1,134 · $94/mo
• Projected year-2 tax: $1,135 · $95/mo
• Expected delta: +$1/yr ($0/mo · 0.1%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone AE · 72% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 3/10 Moderate 7 d/yr ≥91°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 9 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,501
• − Mortgage interest: −$6,553
• − Property taxes: −$1,134
• − Insurance: −$5,703
• − Repairs & maintenance: −$1,480
• − Management: −$1,480
• − Depreciation: −$3,403
• Taxable loss: −$1,253
• Est. tax savings @ 24.0%: +$301
• After-tax cash flow: $717/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: Harney County SD 3
• NCES district ID: 4102490
• Math proficiency: 26% ▼ -2.00%
• Reading proficiency: 37% ▼ -4.00%
• Median HH income: $37,892
• Composite: 26.25/100
• National rank: #7256
• State rank: #41 of 58 in OR

Livability — Burns

• Score: 67/100
• State rank: #181
• US rank: #11110

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Burns, OR
• Population (ZIP): 4,456

Population outlook (Harney County) Hauer SSP2

• Today (2025): 6,663 people
• By 2030: 6,311 · -5.3%
• By 2040: 5,611 · -15.8%
• By 2050: 4,991 · -25.1%
• By 2075: 3,796 · -43.0%
• By 2100: 2,769 · -58.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Two or more races 12% Hispanic / Latino 6% Native American 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 3% Slovak 3% Romanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Asian/Pacific 1%

Political lean MEDSL · Harney

• 2024 margin: Solid R (+59.4) · D 18.8% · R 78.2% · Other 3.0%
• 2008→2024 swing: -14.7pp toward R · 2008: -44.7pp · 2024: -59.4pp
• All cycles: 2024: R+59.4 2020: R+57.6 2016: R+57.7 2012: R+50.1 2008: R+44.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -15.06%
• Current HPI: 240.1575
• 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

+583.2% since first listed

5 events — show timeline

• 2026-03-19 Relisted — MLSCO
• 2026-01-04 Contingent — MLSCO
• 2025-11-04 Price Changed $116,990 MLSCO
• 2025-09-03 Listed $119,990 MLSCO
• 1987-03-01 Sold (Public Records) $17,125 Public Records

Property tax history

+3.4%/yr

Latest (2025): $1,134 · +1.6% YoY. Source: county tax records.