4200 Summers Ln Unit 23 · Altamont, OR 97603

$99,900

2 bd · 2.0 ba · 1,293 sqft · Manufactured public records · 104 Days on market

Built 1992 $77/sqft · at area comps Est $99k · at est. $451/mo HOA · 27% 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 +25.4/30.0
• 1% rule +10.0/10.0
• DSCR +8.4/10.0
• ARV discount +7.0/15.0
• 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 MLS

Come see this Beautiful Manufactured Home in one of the most desirable 55+ Parks in Klamath Falls. Easy access to Shopping, Schools, Sky Lakes Medical center and OIT. This home has two large bedrooms and two nice living rooms with one that could easily be converted to a third bedroom. Nice big Deck to enjoy those beautiful summers and just enough yard with underground timed sprinklers and a fully fenced yard for some outdoor space. .Attached carport with shed for easy access to your home. $99,900.00

Key facts

• Easy access to oit
• Big deck
• Fully fenced yard

Tags

• EASY ACCESS TO SHOPPING
• EASY ACCESS TO SCHOOLS
• EASY ACCESS TO OIT
• BIG DECK
• UNDERGROUND TIMED SPRINKLERS
• FULLY FENCED YARD

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $229 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $91k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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; 5 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y ago; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $40k; list at $100k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $90,909 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% 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: 1.66% ✓
• Cap rate: 9.05%
• Cash-on-cash: 9.83%
• DSCR: 1.44
• GRM: 5.0

CMA / ARV

• ARV (median comp): $98,701
• List price: $99,900
• Delta: 1.21%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4200 Summers Ln Unit 23	0.00mi	2/2.0	1,293 (0%)	0mo	$95,000	$73	100
4200 Summers Ln #52	0.00mi	3/2.0 (+1)	1,296 (+0%)	1mo	$89,500	$69	94
4200 Summers Ln Unit 69	0.00mi	2/2.0	1,188 (-8%)	0mo	$72,500	$61	86
4200 Summers Ln Unit 25	0.00mi	3/2.0 (+1)	1,323 (+2%)	7mo	$107,000	$81	85
4200 Summers Ln Unit 10	0.00mi	2/2.0	1,109 (-14%)	5mo	$75,000	$68	72
3922 Austin St	0.54mi	3/2.0 (+1)	1,404 (+9%)	6mo	$260,000	$185	50
4647 Winter Ave #78	0.63mi	3/2.0 (+1)	1,173 (-9%)	3mo	$125,000	$107	48
4647 Winter Ave #92	0.61mi	3/2.0 (+1)	1,173 (-9%)	5mo	$123,000	$105	47
4647 Winter Ave Spc 53	0.61mi	3/2.0 (+1)	1,173 (-9%)	8mo	$130,000	$111	45
4647 Winter Ave Spc 65	0.63mi	3/2.0 (+1)	1,144 (-12%)	6mo	$113,000	$99	41
3131 Bisbee St	0.74mi	3/2.0 (+1)	1,144 (-12%)	2mo	$261,000	$228	39
4647 Winter Ave Spc 36	0.63mi	3/2.0 (+1)	1,100 (-15%)	3mo	$86,500	$79	38

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: 0.0%
• Equity multiple: 1.00×
• Total profit: $17
• Equity at exit: $14,895

10-year hold

• IRR: 11.0%
• Equity multiple: 1.91×
• Total profit: $25,483
• Equity at exit: $8,638

Cash invested: $27,972 (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: 5.0×

Monthly cashflow live

• Estimated rent: $1,655 high
• Mortgage (P&I): −$524
• Tax from tax record: −$62 /mo · $742/yr
• Insurance: −$42
• HOA: −$451
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $229

Break-even live

Break-even rent $1,365

Max offer price $99,900

Occupancy floor 81%

Sensitivity live

Price	-10% $286	-5% $257	+0% $229	+5% $201	+10% $173
Rent	-10% $98	-5% $164	+0% $229	+5% $295	+10% $360
Rate	-1.0pp $280	-0.5pp $255	base $229	+0.5pp $203	+1.0pp $177

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 5 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
4831 Darwin Pl Klamath Falls, OR	3.0	1.0	1092	$1,475	$1.35	44d	1	0.33mi
4195 Bristol Ct Klamath Falls, OR	2.0	1.0	1080	$1,350	$1.25	44d	1	0.47mi
3039 Kane St Klamath Falls, OR	3.0	2.0	988	$1,395	$1.41	44d	1	1.14mi

HOA detail

• Monthly dues: $451 · $5,412/yr

Listing history 6 events

1. 2026-05-12
   status Pending 504-char remark

   Show marketing remark (504 chars)

   Come see this Beautiful Manufactured Home in one of the most desirable 55+ Parks in Klamath Falls. Easy access to Shopping, Schools, Sky Lakes Medical center and OIT. This home has two large bedrooms and two nice living rooms with one that could easily be converted to a third bedroom. Nice big Deck to enjoy those beautiful summers and just enough yard with underground timed sprinklers and a fully fenced yard for some outdoor space. .Attached carport with shed for easy access to your home. $99,900.00

2. 2026-03-30
   price $99,900 504-char remark

   Show marketing remark (504 chars)

   Come see this Beautiful Manufactured Home in one of the most desirable 55+ Parks in Klamath Falls. Easy access to Shopping, Schools, Sky Lakes Medical center and OIT. This home has two large bedrooms and two nice living rooms with one that could easily be converted to a third bedroom. Nice big Deck to enjoy those beautiful summers and just enough yard with underground timed sprinklers and a fully fenced yard for some outdoor space. .Attached carport with shed for easy access to your home. $99,900.00

3. 2026-01-28
   listed $109,900 Active 504-char remark

   Show marketing remark (504 chars)

   Come see this Beautiful Manufactured Home in one of the most desirable 55+ Parks in Klamath Falls. Easy access to Shopping, Schools, Sky Lakes Medical center and OIT. This home has two large bedrooms and two nice living rooms with one that could easily be converted to a third bedroom. Nice big Deck to enjoy those beautiful summers and just enough yard with underground timed sprinklers and a fully fenced yard for some outdoor space. .Attached carport with shed for easy access to your home. $99,900.00

4. 2013-11-04
   soldstatus $40,000 487-char remark

   Show marketing remark (487 chars)

   Truly A Great Buy. New Roof, Exterior Paint, Heat Pump, New Windows And More. Immaculate Interior. Beautiful Front Picture Windows. Cathedral Ceilings. Office Area Could Be A Bedroom Easily. 2-car Carport With 25x50 Storage Area. Very Green, Well Landscaped Yard With Wonderful Decking To Enjoy Leisure Time. Club House Available To Residents And Rv Storage For Small Fee. Adult Park Age 55 Or Special Age Dispensation. Purchase Contingent On Credit And Background Check By Park Manager.

5. 2013-10-01
   listed $45,000 487-char remark

   Show marketing remark (487 chars)

   Truly A Great Buy. New Roof, Exterior Paint, Heat Pump, New Windows And More. Immaculate Interior. Beautiful Front Picture Windows. Cathedral Ceilings. Office Area Could Be A Bedroom Easily. 2-car Carport With 25x50 Storage Area. Very Green, Well Landscaped Yard With Wonderful Decking To Enjoy Leisure Time. Club House Available To Residents And Rv Storage For Small Fee. Adult Park Age 55 Or Special Age Dispensation. Purchase Contingent On Credit And Background Check By Park Manager.

6. 2004-06-10
   soldstatus $39,000

ⓘ 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: $742 · $62/mo
• Projected year-2 tax: $969 · $81/mo
• Expected delta: +$227/yr (+$19/mo · 30.6%)

ⓘ 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: $19,862
• − Mortgage interest: −$5,596
• − Property taxes: −$742
• − Insurance: −$500
• − Repairs & maintenance: −$1,589
• − Management: −$1,589
• − HOA: −$5,412
• − Depreciation: −$2,906
• Taxable income: $1,528
• Est. tax owed @ 24.0%: −$367
• After-tax cash flow: $2,384/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

+156.2% since first listed

6 events — show timeline

• 2026-05-12 Pending — MLSCO
• 2026-03-30 Price Changed $99,900 MLSCO
• 2026-01-28 Listed $109,900 MLSCO
• 2013-11-04 Sold (MLS) $40,000 MLSCO
• 2013-10-01 Listed $45,000 MLSCO
• 2004-06-10 Sold (Public Records) $39,000 Public Records

Property tax history

+7.4%/yr

Latest (2025): $742 · +2.7% YoY. Source: county tax records.