67623 E Bay Rd

Glasgow, OR 97459

$310,000D

2 bd · 1.0 ba · 1,029 sqft · Built 1976 · SingleFamily · Active · 73 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,446/mo
• Mortgage (P&I): −$1,626
• Tax + insurance: −$276
• HOA: −$0
• Vac / Maint / Mgmt: −$304
• Net cashflow: $-760/mo
• Annual: $-9,120/yr
• Cap rate: 3.35%
• Cash-on-cash: -10.51%
• DSCR: 0.53
• 1% rule: 0.47%
• Cash to close: $86,800

Investor read

• This is a 2-bed/1.0-bath single-family listed at $310k.
• At list price, monthly cash flow is $-760 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $176k (43.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $145k (53.4% below list).
• It's been on market 73 days — a 6% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $145k (53.4% below list) — sets the bar for 1% rule.
• In year one you build about $33k of equity ($2k loan paydown + $31k appreciation (10.0% local appreciation)).
• Location reads 59/100 on livability (#301 in OR) — a working-class tenant base; expect higher turnover. Strengths: employment A+, housing A; Watch: health & safety C-, cost of living D, amenities F.
• North Bend SD 13 (town): math 30% / reading 47% proficiency, ranked #21 of 58 in OR (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: North Bend Middle School (math 24% / reading 45%, grade F, #61 of 128 statewide, top 54%, 494 students, 68% FRL); North Bend Senior High School (math 75% / reading 75%, grade A-, #2 of 143 statewide, top 6%, 731 students, 30% FRL).
• Zoned-school proficiency averages 55% at this address vs 38% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the North Bend SD 13 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 170 active listings in the ZIP; 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 19y 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 $265k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• By year 2, paydown + projected appreciation supports a ~$53k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 73 days. Have you received any prior offers? Is the seller open to a 53% concession, seller financing, or rate buy-down credit?
• Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.