Drews Rd · Sprague River, OR 97624

$40,000

1 bd · 1.0 ba · 924 sqft · SingleFamily · 14 Days on market

Built 1975 Poor condition Est $48k · 17% under

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Why this score? — see what drove the A- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Livability +2.5/5.0
• Condition / age +1.0/5.0

Listing remarks MLS

This flat parcel is the ideal location for a house in a forest community. Live in paradise just a minutes from Sprague River which is known for its trout fishing. This flat and bushy parcel will not need any additional engineering to develop a home. This location is a perfect place for a hidden homestead, off-grid living, garden, or even a recreational paradise. It is surrounded by mostly undeveloped land but there are other homesites in this paved area. The nearest city is about 10 driving miles and includes a Post Office and a Mini Market. The nearest large city is Chiloquin, OR. Oregon is home to wildlife and adventure. It is a perfect region for nature lovers and outdoor adventurers to explore. The desert, mountains, lakes, and streams, offer experiences ranging from mountain biking, horseback riding, hunting, winter sports, and excellent fishing.

Key facts

• Built 1975
• Listed 13 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $40k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $377 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($911 rent vs $40k).

Location & tenants

• Location reads: area grade A — affects rentability + tenant quality, not the cash-flow math above.
• 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: 279 active listings in the ZIP; 232 units permitted in Klamath County in 2024 (72 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($277 loan paydown + $4k appreciation (10.0% local appreciation)).
• Klamath County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 13y ago; this cycle's ask has dropped $49k (55%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $15k; list at $40k implies a 167% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $40,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1975 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 2.28% ✓
• Cap rate: 19.60%
• Cash-on-cash: 47.52%
• DSCR: 3.11
• GRM: 3.7

CMA / ARV

• ARV (on-the-fly): $48,048
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
32258 Curry St	0.64mi	2/1.0 (+1)	960 (+4%)	24mo	$50,000	$52	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 55.6%
• Equity multiple: 5.09×
• Total profit: $45,856
• Equity at exit: $36,035

10-year hold

• IRR: 49.1%
• Equity multiple: 11.38×
• Total profit: $116,261
• Equity at exit: $77,711

Cash invested: $11,200 (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 97624

• Home prices YoY: 21.5%
• Active inventory: 279
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $911 medium
• Mortgage (P&I): −$210
• Tax est. 1.5%: −$50 /mo · $600/yr
• Insurance: −$17
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$191
• Net cashflow: $377

Break-even live

Break-even rent $434

Max offer price $40,000

Occupancy floor 54%

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-19
   days on market $40,000 Active 14 DOM
2. 2026-06-18
   days on market $40,000 Active 13 DOM
3. 2026-06-17
   days on market $40,000 Active 12 DOM
4. 2026-06-16
   pricedays on market $40,000 Active 11 DOM
5. 2026-06-15
   days on market $88,888 Active 10 DOM
6. 2026-06-14
   days on market $88,888 Active 8 DOM
7. 2026-06-12
   days on market $88,888 Active 7 DOM
8. 2026-06-09
   days on market $88,888 Active 4 DOM
9. 2026-06-08
   days on market $88,888 Active 3 DOM
10. 2026-06-07
    remarks 43-char remark
11. 2026-06-07
    listed $88,888 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 20 unhealthy d/yr today · 20 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,936
• − Mortgage interest: −$2,241
• − Property taxes: −$600
• − Insurance: −$998
• − Repairs & maintenance: −$875
• − Management: −$875
• − Depreciation: −$1,164
• Taxable income: $4,185
• Est. tax owed @ 24.0%: −$1,004
• After-tax cash flow: $3,521/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.

Condition & rehab AI · 1 photo

Poor 20/100 Extensive rehab

This property is currently undeveloped and requires extensive work to become habitable. Clearing vegetation and building a foundation would be the highest-ROI updates to increase its value.

Repairs flagged

• Major foundation/structure — No visible structures
• Major HVAC/mechanicals — No visible systems

Value-add opportunities

• Both Clearing vegetation and building a foundation — Creating a usable building site and increasing property value
• Both Building a house — Creating a usable building site and increasing property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
foundation/structure · No visible structures	Major	$15,000–50,000
HVAC/mechanicals · No visible systems	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both Clearing vegetation and building a foundation — Creating a usable building site and increasing property value ↑
• Both Building a house — Creating a usable building site and increasing property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Sprague River

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 3,756

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 (71%)
• Race & ethnicity: White 71% Native American 16% Two or more races 10% Hispanic / Latino 4%
• Common ancestry: Serbian 5% Portuguese 4% Slovak 3%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Russian/Polish/Slavic 2% Spanish 1%

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: ▲ 85.46%
• Current HPI: 483.6619
• 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

+640.7% since first listed

8 events — show timeline

• 2026-06-06 Listed $88,888 FSBO.com
• 2022-09-29 Sold (MLS) $15,000 MLSCO
• 2022-07-20 Listed $15,000 MLSCO
• 2020-05-11 Price Changed $128,500 MLSCO
• 2020-04-29 Listing Removed — MLSCO
• 2020-04-25 Listing Removed — MLSCO
• 2018-10-03 Listed $149,999 MLSCO
• 2013-12-17 Listed $12,000 MLSCO