1034 High St · Klamath Falls, OR 97601

$230,000

2 bd · 2.0 ba · 2,568 sqft · SingleFamily public records · 296 Days on market

Built 1920 3,920 sqft lot Est $329k · 30% under

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Why this score? — see what drove the D- 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).

• ARV discount +15.0/15.0
• Cash flow +7.6/30.0
• Livability +3.9/5.0
• Rent growth +3.3/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• DSCR +1.8/10.0
• 1% rule +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks

Come check out this fantastic opportunity with two units. The top floor boasts three bedrooms and a bathroom, while the bottom floor houses another three bedrooms and one and a half bathrooms. You have the option to keep them separate as a duplex or open up the stairs to create a spacious single-family home. Whether you're seeking an investment property or a primary residence, this place could be perfect for you! Take a look at the photos and reach out to visit this house in person. Seller will entertain owner carried financing with 20 percent down.

Key facts

• 3,920 sq ft lot
• Garage
• Built 1920

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $-271 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $182k (20.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $152k (34.1% below list).
• Recommended offer: $152k (34.1% below list) — sets the bar for 1% rule.
• Cap rate 4.9% vs local median 3.4% in Klamath Falls — 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 78/100 on livability (#67 in OR, #2,703 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, employment F.
• Klamath Falls City Schools (town): math 26% / reading 40% proficiency, ranked #36 of 58 in OR (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Roosevelt Elementary School (math 54% / reading 34%, grade F, #143 of 412 statewide, top 38%, 316 students, 88% FRL); Ponderosa Middle School (math 27% / reading 41%, grade F, #71 of 128 statewide, top 56%, 565 students, 88% FRL); Klamath Union High School (math 15% / reading 64%, grade F, #69 of 143 statewide, top 54%, 645 students, 89% FRL) — zoned schools average 89% FRL vs 62% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.1%/yr); 493 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 232 units permitted in Klamath County in 2024 (72 in 5+ unit buildings).
• This rent runs 35% of the median local income ($52k/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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 296 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $35k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $230k implies a 820% 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 $151,625 (34.1% below list)

Questions for the listing agent

1. 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?
2. It's been on market 296 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.66% ✗
• Cap rate: 4.88%
• Cash-on-cash: -5.05%
• DSCR: 0.78
• GRM: 12.6

CMA / ARV

• ARV (on-the-fly): $328,704
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
429 N 9th St	0.15mi	3/2.0 (+1)	2,317 (-10%)	19mo	$250,000	$108	56
1945 Auburn	0.52mi	3/2.0 (+1)	2,714 (+6%)	15mo	$350,000	$129	49
85 High St	0.59mi	3/2.0 (+1)	2,626 (+2%)	20mo	$335,000	$128	47
1944 Auburn St	0.53mi	3/1.0 (+1)	2,443 (-5%)	14mo	$160,000	$65	47
234 N 1st St	0.59mi	2/1.0	2,875 (+12%)	4mo	$299,000	$104	45
347 Pacific Ter	0.60mi	3/1.5 (+1)	2,284 (-11%)	4mo	$340,000	$149	43
745 N Eldorado Ave	0.54mi	3/2.0 (+1)	2,263 (-12%)	9mo	$375,000	$166	43

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 · 3.12% rent growth · sell at horizon

5-year hold

• IRR: -24.8%
• Equity multiple: 0.16×
• Total profit: $-54,397
• Equity at exit: $34,294

10-year hold

• IRR: -20.3%
• Equity multiple: -0.07×
• Total profit: $-69,046
• Equity at exit: $19,886

Cash invested: $64,400 (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 97601

• Home prices YoY: -3.7%
• Rents YoY: 3.1%
• Active inventory: 493
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $1,516 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$167 /mo · $2,002/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $-271

Break-even live

Break-even rent $1,859

Max offer price $182,130

Occupancy floor —

Sensitivity live

Price	-10% $-141	-5% $-206	+0% $-271	+5% $-336	+10% $-401
Rent	-10% $-391	-5% $-331	+0% $-271	+5% $-211	+10% $-151
Rate	-1.0pp $-155	-0.5pp $-212	base $-271	+0.5pp $-331	+1.0pp $-391

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
130 Washington St Klamath Falls, OR	3.0	2.0	2146	$2,300	$1.07	44d	1	0.58mi

Listing history 27 events

1. 2026-06-19
   days on market $230,000 Active 296 DOM
2. 2026-06-18
   days on market $230,000 Active 295 DOM
3. 2026-06-17
   days on market $230,000 Active 294 DOM
4. 2026-06-16
   days on market $230,000 Active 293 DOM
5. 2026-06-15
   days on market $230,000 Active 292 DOM
6. 2026-06-14
   days on market $230,000 Active 290 DOM
7. 2026-06-12
   days on market $230,000 Active 289 DOM
8. 2026-06-09
   days on market $230,000 Active 286 DOM
9. 2026-06-08
   days on market $230,000 Active 285 DOM
10. 2026-06-07
    days on market $230,000 Active 284 DOM
11. 2026-06-05
    days on market $230,000 Active 281 DOM
12. 2026-06-03
    days on market $230,000 Active 280 DOM
13. 2026-06-02
    remarks 556-char remark
14. 2026-06-02
    pricestatusdays on market $230,000 Active 279 DOM
15. 2026-04-12
    status Pending
16. 2026-03-26
    price $246,000
17. 2026-03-08
    price $247,000
18. 2026-02-19
    price $248,000
19. 2026-02-02
    status Active
20. 2026-01-31
    historical
21. 2026-01-26
    price $249,000
22. 2026-01-05
    status Active
23. 2025-12-31
    historical
24. 2025-10-15
    price $254,900
25. 2025-09-24
    price $259,900
26. 2025-06-30
    listed $265,000 Active
27. 1989-06-01
    soldstatus $25,000

ⓘ 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: $2,002 · $167/mo
• Projected year-2 tax: $2,231 · $186/mo
• Expected delta: +$229/yr (+$19/mo · 11.4%)

ⓘ 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 6/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥91°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 29 unhealthy d/yr today · 31 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,195
• − Mortgage interest: −$12,884
• − Property taxes: −$2,002
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,456
• − Management: −$1,456
• − Depreciation: −$6,691
• Taxable loss: −$7,443
• Est. tax savings @ 24.0%: +$1,786
• After-tax cash flow: $-1,466/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 Falls City Schools
• NCES district ID: 4107080
• Math proficiency: 26% ▼ -6.00%
• Reading proficiency: 40% ▼ -3.00%
• Median HH income: $34,329
• Composite: 27.14/100
• National rank: #7033
• State rank: #36 of 58 in OR

Livability — Klamath Falls

• Score: 78/100
• State rank: #67
• US rank: #2703

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Klamath Falls, OR
• County: Klamath County · 56,186 people
• City population: 56,186
• Metro: Klamath Falls, OR
• Population (ZIP): 22,964
• Household income: $51,780
• Rent vs Own: 40.0% rent · 60.0% own
• Severe rent burden: 1323.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 12% Two or more races 10% Native American 3% Asian 2%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Lithuanian 4% Slovak 3% Portuguese 2%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 6%

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: ▼ -14.37%
• Current HPI: 372.5418
• Rent YoY: ▲ 3.12%
• 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

+884.0% since first listed

13 events — show timeline

• 2026-04-12 Pending — MLSCO
• 2026-03-26 Price Changed $246,000 MLSCO
• 2026-03-08 Price Changed $247,000 MLSCO
• 2026-02-19 Price Changed $248,000 MLSCO
• 2026-02-02 Relisted — MLSCO
• 2026-01-31 Listing Removed — MLSCO
• 2026-01-26 Price Changed $249,000 MLSCO
• 2026-01-05 Relisted — MLSCO
• 2025-12-31 Listing Removed — MLSCO
• 2025-10-15 Price Changed $254,900 MLSCO
• 2025-09-24 Price Changed $259,900 MLSCO
• 2025-06-30 Listed $265,000 MLSCO
• 1989-06-01 Sold (Public Records) $25,000 Public Records

Property tax history

+3.1%/yr

Latest (2025): $2,002 · +2.4% YoY. Source: county tax records.