4200 Summers Ln Unit 58 · Altamont, OR 97603

$125,000

3 bd · 2.0 ba · 1,782 sqft · Manufactured public records · 252 Days on market

Built 1993 $70/sqft · 22% above area Est $102k · 22% over $426/mo HOA · 21% of rent

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Why this score? — see what drove the C 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 +28.1/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.5/5.0
• Livability +3.2/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step inside to find generous square footage, vaulted ceilings, and an open floor plan that feels bright and inviting. The kitchen shines with a large island, granite countertops, updated tile work, and modern finishes, while a dedicated laundry room adds everyday convenience. Outside, enjoy a covered carport, storage shed, and a charming deck framed by flower beds—a wonderful spot to sip your morning coffee or unwind at the end of the day. With recent improvements both inside and out, this home is move-in ready and waiting for its next owner. Come see why this property stands out as a great opportunity in a vibrant 55+ community!

Key facts

• Covered carport
• Storage shed
• Large island

Tags

• LARGE ISLAND
• GRANITE COUNTERTOPS
• DEDICATED LAUNDRY ROOM
• COVERED CARPORT
• STORAGE SHED
• CHARMING DECK

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $394 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.1% 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; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d 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 36% 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 $864 of loan paydown is wiped out by about $4k 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 $35k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 252 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 3 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 $48k; list at $125k implies a 160% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 252 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
6. 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.
7. 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.
8. 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: 1.59% ✓
• Cap rate: 10.07%
• Cash-on-cash: 13.50%
• DSCR: 1.60
• GRM: 5.2

CMA / ARV

• ARV (median comp): $102,353
• List price: $125,000
• Delta: 22.13%
• Verdict: OVERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4200 Summers Ln #30	0.00mi	3/2.0	1,782 (0%)	19mo	$110,000	$62	84
4200 Summers Ln #83	0.00mi	3/2.0	1,647 (-8%)	7mo	$119,000	$72	81
4200 Summers Ln #68	0.00mi	3/2.0	1,539 (-14%)	2mo	$95,000	$62	76
4200 Summers Ln #5	0.00mi	3/2.0	1,555 (-13%)	5mo	$70,000	$45	75
4200 Summers Ln Unit 60	0.00mi	3/2.0	1,620 (-9%)	13mo	$103,250	$64	74
3500 Summers Ln #41	0.50mi	3/2.0	1,792 (+1%)	8mo	$68,000	$38	70
3415 Crest St #24	0.53mi	3/2.0	1,848 (+4%)	10mo	$80,000	$43	60
3218 Summers Ln	0.66mi	2/2.0 (-1)	1,728 (-3%)	4mo	$325,000	$188	55
4647 Winter Ave Spc 45	0.63mi	3/2.0	1,620 (-9%)	7mo	$104,900	$65	50
3500 Summers Ln #11	0.50mi	3/2.0	1,599 (-10%)	22mo	$159,000	$99	41

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: 4.8%
• Equity multiple: 1.19×
• Total profit: $6,659
• Equity at exit: $18,638

10-year hold

• IRR: 15.3%
• Equity multiple: 2.31×
• Total profit: $45,708
• Equity at exit: $10,808

Cash invested: $35,000 (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: 5.2×

Monthly cashflow live

• Estimated rent: $1,985 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$40 /mo · $484/yr
• Insurance: −$52
• HOA: −$426
• Vacancy / Maint / Mgmt: −$417
• Net cashflow: $394

Break-even live

Break-even rent $1,486

Max offer price $125,000

Occupancy floor 75%

Sensitivity live

Price	-10% $465	-5% $429	+0% $394	+5% $358	+10% $323
Rent	-10% $237	-5% $315	+0% $394	+5% $472	+10% $551
Rate	-1.0pp $457	-0.5pp $426	base $394	+0.5pp $361	+1.0pp $328

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3823 Kelley Dr Klamath Falls, OR	3.0	3.0	1600	$2,000	$1.25	44d	1	0.18mi
4306 Fargo St Klamath Falls, OR	3.0	2.0	1288	$1,850	$1.44	44d	1	0.23mi
4305 Altamont Dr Klamath Falls, OR	4.0	2.0	1712	$2,300	$1.34	44d	1	0.31mi

HOA detail

• Monthly dues: $426 · $5,112/yr

Listing history 21 events

1. 2026-06-19
   days on market $125,000 Active 252 DOM
2. 2026-06-18
   days on market $125,000 Active 251 DOM
3. 2026-06-17
   days on market $125,000 Active 250 DOM
4. 2026-06-16
   days on market $125,000 Active 249 DOM
5. 2026-06-15
   days on market $125,000 Active 248 DOM
6. 2026-06-14
   days on market $125,000 Active 246 DOM
7. 2026-06-12
   days on market $125,000 Active 245 DOM
8. 2026-06-09
   days on market $125,000 Active 242 DOM
9. 2026-06-08
   days on market $125,000 Active 241 DOM
10. 2026-06-07
    days on market $125,000 Active 240 DOM
11. 2026-06-05
    days on market $125,000 Active 237 DOM
12. 2026-06-02
    days on market $125,000 Active 235 DOM
13. 2026-06-01
    days on market $125,000 Active 234 DOM
14. 2026-05-31
    days on market $125,000 Active 233 DOM
15. 2026-05-30
    days on market $125,000 Active 232 DOM
16. 2026-04-06
    status Active 643-char remark

    Show marketing remark (643 chars)

    Step inside to find generous square footage, vaulted ceilings, and an open floor plan that feels bright and inviting. The kitchen shines with a large island, granite countertops, updated tile work, and modern finishes, while a dedicated laundry room adds everyday convenience. Outside, enjoy a covered carport, storage shed, and a charming deck framed by flower beds—a wonderful spot to sip your morning coffee or unwind at the end of the day. With recent improvements both inside and out, this home is move-in ready and waiting for its next owner. Come see why this property stands out as a great opportunity in a vibrant 55+ community!

17. 2026-04-04
    status Pending 643-char remark

    Show marketing remark (643 chars)

    Step inside to find generous square footage, vaulted ceilings, and an open floor plan that feels bright and inviting. The kitchen shines with a large island, granite countertops, updated tile work, and modern finishes, while a dedicated laundry room adds everyday convenience. Outside, enjoy a covered carport, storage shed, and a charming deck framed by flower beds—a wonderful spot to sip your morning coffee or unwind at the end of the day. With recent improvements both inside and out, this home is move-in ready and waiting for its next owner. Come see why this property stands out as a great opportunity in a vibrant 55+ community!

18. 2026-02-13
    status Active 643-char remark

    Show marketing remark (643 chars)

    Step inside to find generous square footage, vaulted ceilings, and an open floor plan that feels bright and inviting. The kitchen shines with a large island, granite countertops, updated tile work, and modern finishes, while a dedicated laundry room adds everyday convenience. Outside, enjoy a covered carport, storage shed, and a charming deck framed by flower beds—a wonderful spot to sip your morning coffee or unwind at the end of the day. With recent improvements both inside and out, this home is move-in ready and waiting for its next owner. Come see why this property stands out as a great opportunity in a vibrant 55+ community!

19. 2026-01-24
    status Pending 643-char remark

    Show marketing remark (643 chars)

    Step inside to find generous square footage, vaulted ceilings, and an open floor plan that feels bright and inviting. The kitchen shines with a large island, granite countertops, updated tile work, and modern finishes, while a dedicated laundry room adds everyday convenience. Outside, enjoy a covered carport, storage shed, and a charming deck framed by flower beds—a wonderful spot to sip your morning coffee or unwind at the end of the day. With recent improvements both inside and out, this home is move-in ready and waiting for its next owner. Come see why this property stands out as a great opportunity in a vibrant 55+ community!

20. 2025-09-12
    listed $125,000 Active 643-char remark

    Show marketing remark (643 chars)

    Step inside to find generous square footage, vaulted ceilings, and an open floor plan that feels bright and inviting. The kitchen shines with a large island, granite countertops, updated tile work, and modern finishes, while a dedicated laundry room adds everyday convenience. Outside, enjoy a covered carport, storage shed, and a charming deck framed by flower beds—a wonderful spot to sip your morning coffee or unwind at the end of the day. With recent improvements both inside and out, this home is move-in ready and waiting for its next owner. Come see why this property stands out as a great opportunity in a vibrant 55+ community!

21. 1998-03-16
    soldstatus $48,000

ⓘ 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: $484 · $40/mo
• Projected year-2 tax: $1,212 · $101/mo
• Expected delta: +$728/yr (+$61/mo · 150.4%)

ⓘ 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 · 10% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥90°F today · 17 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: $23,814
• − Mortgage interest: −$7,002
• − Property taxes: −$484
• − Insurance: −$625
• − Repairs & maintenance: −$1,905
• − Management: −$1,905
• − HOA: −$5,112
• − Depreciation: −$3,636
• Taxable income: $3,145
• Est. tax owed @ 24.0%: −$755
• After-tax cash flow: $3,971/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

+160.4% since first listed

6 events — show timeline

• 2026-04-06 Relisted — MLSCO
• 2026-04-04 Pending — MLSCO
• 2026-02-13 Relisted — MLSCO
• 2026-01-24 Pending — MLSCO
• 2025-09-12 Listed $125,000 MLSCO
• 1998-03-16 Sold (Public Records) $48,000 Public Records

Property tax history

+14.0%/yr

Latest (2025): $484 · +2.7% YoY. Source: county tax records.