62885 Isthmus Heights Rd · Bunker Hill, OR 97420

$159,000

2 bd · 1.0 ba · 924 sqft · SingleFamily public records · 103 Days on market

Built 1975 4.90 ac lot $172/sqft · 39% below area Est $260k · 39% under ↓ 27% since listing

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Why this score? — see what drove the B- 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 +24.1/30.0
• ARV discount +15.0/15.0
• DSCR +7.8/10.0
• 1% rule +5.4/10.0
• Rent growth +4.7/5.0
• Livability +3.4/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover the possibilities with this unique offering of two adjoining parcels totaling almost 5 acres, each 2.45 acres(sale price includes both lots), located at the top of desirable Isthmus Heights. Both lots are zoned RR-2, offering potential opportunities for one or two homes (buyer to verify with local planning).Perched in an elevated setting, these properties offer the potential for surrounding views while still providing privacy and space to create your ideal homesite. Whether you’re looking to build a custom home with room to spread out, develop a second homesite, or invest in land for the future, this property provides flexibility and value.Enjoy the peaceful setting of Isthmus Heights while still being conveniently located near town amenities, waterways, and outdoor recreation.Property has an older manufactured home on it that will need removed/demolished. Unknown condition of wells and septic system. DO NOT ENTER STRUCTURES.

Key facts

• Outdoor recreation
• Almost 5 acres
• Surrounding views

Tags

• TWO ADJOINING PARCELS
• ALMOST 5 ACRES
• ZONED RR-2
• SURROUNDING VIEWS
• ELEVATED SETTING
• OUTDOOR RECREATION

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $159k.

Deal economics

• At list price, monthly cash flow is $314 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $159k).
• Recommended offer: $145k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 3.4% in Bunker Hill — 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 67/100 on livability (#171 in OR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety C-, schools F, amenities F.
• Coos Bay SD 9 (town): math 22% / reading 39% proficiency, ranked #45 of 58 in OR (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+8.7%/yr); 342 active listings in the ZIP; 122 units permitted in Coos County in 2024 (16 in 5+ unit buildings).
• This rent runs 32% of the median local income ($62k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Coos County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $45k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 607% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $144,690 (9.0% below list)

Questions for the listing agent

1. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 1.04% ✓
• Cap rate: 8.66%
• Cash-on-cash: 8.46%
• DSCR: 1.38
• GRM: 8.0

CMA / ARV

• ARV (median comp): $259,696
• List price: $159,000
• Delta: -38.77%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
93772 High Ln	0.59mi	2/1.0	888 (-4%)	21mo	$279,000	$314	48

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 1.6%
• Equity multiple: 1.07×
• Total profit: $2,909
• Equity at exit: $23,707

10-year hold

• IRR: 15.4%
• Equity multiple: 2.52×
• Total profit: $67,801
• Equity at exit: $13,747

Cash invested: $44,520 (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 97420

• Rents YoY: 8.7%
• Active inventory: 342
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,650 medium
• Mortgage (P&I): −$834
• Tax from tax record: −$90 /mo · $1,076/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $314

Break-even live

Break-even rent $1,253

Max offer price $159,000

Occupancy floor 76%

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-19
   days on market $159,000 Active 103 DOM
2. 2026-06-18
   days on market $159,000 Active 102 DOM
3. 2026-06-17
   days on market $159,000 Active 101 DOM
4. 2026-06-17
   price $159,000 Active 100 DOM
5. 2026-06-16
   days on market $165,000 Active 100 DOM
6. 2026-06-15
   days on market $165,000 Active 99 DOM
7. 2026-06-14
   days on market $165,000 Active 97 DOM
8. 2026-06-12
   days on market $165,000 Active 96 DOM
9. 2026-06-09
   days on market $165,000 Active 93 DOM
10. 2026-06-08
    days on market $165,000 Active 92 DOM
11. 2026-06-07
    days on market $165,000 Active 91 DOM
12. 2026-06-07
    days on market $165,000 Active 90 DOM
13. 2026-06-03
    days on market $165,000 Active 87 DOM
14. 2026-06-02
    days on market $165,000 Active 86 DOM
15. 2026-06-01
    days on market $165,000 Active 85 DOM
16. 2026-05-31
    days on market $165,000 Active 84 DOM
17. 2026-05-30
    days on market $165,000 Active 83 DOM
18. 2026-05-03
    price $165,000 954-char remark

    Show marketing remark (923 chars)

    Discover the possibilities with this unique offering of two adjoining parcels totaling almost 5 acres, each 2.45 acres, located at the top of desirable Isthmus Heights. Both lots are zoned RR-2, offering potential opportunities for one or two homes (buyer to verify with local planning).Perched in an elevated setting, these properties offer the potential for surrounding views while still providing privacy and space to create your ideal homesite. Whether you’re looking to build a custom home with room to spread out, develop a second homesite, or invest in land for the future, this property provides flexibility and value.Enjoy the peaceful setting of Isthmus Heights while still being conveniently located near town amenities, waterways, and outdoor recreation.Property has an older manufactured home on it that will need removed/demolished. Unknown condition of wells and septic system. DO NOT ENTER STRUCTURES.

19. 2026-05-03
    price $165,000 923-char remark

    Show marketing remark (923 chars)

    Discover the possibilities with this unique offering of two adjoining parcels totaling almost 5 acres, each 2.45 acres, located at the top of desirable Isthmus Heights. Both lots are zoned RR-2, offering potential opportunities for one or two homes (buyer to verify with local planning).Perched in an elevated setting, these properties offer the potential for surrounding views while still providing privacy and space to create your ideal homesite. Whether you’re looking to build a custom home with room to spread out, develop a second homesite, or invest in land for the future, this property provides flexibility and value.Enjoy the peaceful setting of Isthmus Heights while still being conveniently located near town amenities, waterways, and outdoor recreation.Property has an older manufactured home on it that will need removed/demolished. Unknown condition of wells and septic system. DO NOT ENTER STRUCTURES.

20. 2026-03-25
    price $199,000 954-char remark

    Show marketing remark (923 chars)

    Discover the possibilities with this unique offering of two adjoining parcels totaling almost 5 acres, each 2.45 acres, located at the top of desirable Isthmus Heights. Both lots are zoned RR-2, offering potential opportunities for one or two homes (buyer to verify with local planning).Perched in an elevated setting, these properties offer the potential for surrounding views while still providing privacy and space to create your ideal homesite. Whether you’re looking to build a custom home with room to spread out, develop a second homesite, or invest in land for the future, this property provides flexibility and value.Enjoy the peaceful setting of Isthmus Heights while still being conveniently located near town amenities, waterways, and outdoor recreation.Property has an older manufactured home on it that will need removed/demolished. Unknown condition of wells and septic system. DO NOT ENTER STRUCTURES.

21. 2026-03-25
    price $199,000 923-char remark

    Show marketing remark (923 chars)

    Discover the possibilities with this unique offering of two adjoining parcels totaling almost 5 acres, each 2.45 acres, located at the top of desirable Isthmus Heights. Both lots are zoned RR-2, offering potential opportunities for one or two homes (buyer to verify with local planning).Perched in an elevated setting, these properties offer the potential for surrounding views while still providing privacy and space to create your ideal homesite. Whether you’re looking to build a custom home with room to spread out, develop a second homesite, or invest in land for the future, this property provides flexibility and value.Enjoy the peaceful setting of Isthmus Heights while still being conveniently located near town amenities, waterways, and outdoor recreation.Property has an older manufactured home on it that will need removed/demolished. Unknown condition of wells and septic system. DO NOT ENTER STRUCTURES.

22. 2026-03-20
    price $219,000 954-char remark

    Show marketing remark (923 chars)

    Discover the possibilities with this unique offering of two adjoining parcels totaling almost 5 acres, each 2.45 acres, located at the top of desirable Isthmus Heights. Both lots are zoned RR-2, offering potential opportunities for one or two homes (buyer to verify with local planning).Perched in an elevated setting, these properties offer the potential for surrounding views while still providing privacy and space to create your ideal homesite. Whether you’re looking to build a custom home with room to spread out, develop a second homesite, or invest in land for the future, this property provides flexibility and value.Enjoy the peaceful setting of Isthmus Heights while still being conveniently located near town amenities, waterways, and outdoor recreation.Property has an older manufactured home on it that will need removed/demolished. Unknown condition of wells and septic system. DO NOT ENTER STRUCTURES.

23. 2026-03-20
    price $219,000 923-char remark

    Show marketing remark (923 chars)

    Discover the possibilities with this unique offering of two adjoining parcels totaling almost 5 acres, each 2.45 acres, located at the top of desirable Isthmus Heights. Both lots are zoned RR-2, offering potential opportunities for one or two homes (buyer to verify with local planning).Perched in an elevated setting, these properties offer the potential for surrounding views while still providing privacy and space to create your ideal homesite. Whether you’re looking to build a custom home with room to spread out, develop a second homesite, or invest in land for the future, this property provides flexibility and value.Enjoy the peaceful setting of Isthmus Heights while still being conveniently located near town amenities, waterways, and outdoor recreation.Property has an older manufactured home on it that will need removed/demolished. Unknown condition of wells and septic system. DO NOT ENTER STRUCTURES.

24. 2026-03-09
    price $225,000 923-char remark

    Show marketing remark (923 chars)

    Discover the possibilities with this unique offering of two adjoining parcels totaling almost 5 acres, each 2.45 acres, located at the top of desirable Isthmus Heights. Both lots are zoned RR-2, offering potential opportunities for one or two homes (buyer to verify with local planning).Perched in an elevated setting, these properties offer the potential for surrounding views while still providing privacy and space to create your ideal homesite. Whether you’re looking to build a custom home with room to spread out, develop a second homesite, or invest in land for the future, this property provides flexibility and value.Enjoy the peaceful setting of Isthmus Heights while still being conveniently located near town amenities, waterways, and outdoor recreation.Property has an older manufactured home on it that will need removed/demolished. Unknown condition of wells and septic system. DO NOT ENTER STRUCTURES.

25. 2026-03-08
    listed $225,000 Active 954-char remark

    Show marketing remark (923 chars)

    Discover the possibilities with this unique offering of two adjoining parcels totaling almost 5 acres, each 2.45 acres, located at the top of desirable Isthmus Heights. Both lots are zoned RR-2, offering potential opportunities for one or two homes (buyer to verify with local planning).Perched in an elevated setting, these properties offer the potential for surrounding views while still providing privacy and space to create your ideal homesite. Whether you’re looking to build a custom home with room to spread out, develop a second homesite, or invest in land for the future, this property provides flexibility and value.Enjoy the peaceful setting of Isthmus Heights while still being conveniently located near town amenities, waterways, and outdoor recreation.Property has an older manufactured home on it that will need removed/demolished. Unknown condition of wells and septic system. DO NOT ENTER STRUCTURES.

26. 2026-03-08
    listed $22,500 Active 923-char remark

    Show marketing remark (923 chars)

    Discover the possibilities with this unique offering of two adjoining parcels totaling almost 5 acres, each 2.45 acres, located at the top of desirable Isthmus Heights. Both lots are zoned RR-2, offering potential opportunities for one or two homes (buyer to verify with local planning).Perched in an elevated setting, these properties offer the potential for surrounding views while still providing privacy and space to create your ideal homesite. Whether you’re looking to build a custom home with room to spread out, develop a second homesite, or invest in land for the future, this property provides flexibility and value.Enjoy the peaceful setting of Isthmus Heights while still being conveniently located near town amenities, waterways, and outdoor recreation.Property has an older manufactured home on it that will need removed/demolished. Unknown condition of wells and septic system. DO NOT ENTER STRUCTURES.

ⓘ 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: $1,076 · $90/mo
• Projected year-2 tax: $1,542 · $129/mo
• Expected delta: +$466/yr (+$39/mo · 43.3%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥78°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 9 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,803
• − Mortgage interest: −$8,906
• − Property taxes: −$1,076
• − Insurance: −$795
• − Repairs & maintenance: −$1,584
• − Management: −$1,584
• − Depreciation: −$4,625
• Taxable income: $1,231
• Est. tax owed @ 24.0%: −$295
• After-tax cash flow: $3,472/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: Coos Bay SD 9
• NCES district ID: 4103660
• Math proficiency: 22% ▼ -6.00%
• Reading proficiency: 39% ▼ -4.00%
• Median HH income: $38,630
• Composite: 25.46/100
• National rank: #7450
• State rank: #45 of 58 in OR

Livability — Bunker Hill

• Score: 67/100
• State rank: #171
• US rank: #10322

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Coos County · 27,621 people
• Metro: Coos Bay, OR
• Population (ZIP): 27,621
• Household income: $61,574
• Rent vs Own: 32.7% rent · 67.3% own
• Severe rent burden: 799.0

Population outlook (Coos County) Hauer SSP2

• Today (2025): 62,222 people
• By 2030: 61,120 · -1.8%
• By 2040: 58,478 · -6.0%
• By 2050: 56,819 · -8.7%
• By 2075: 54,915 · -11.7%
• By 2100: 51,403 · -17.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 10% Two or more races 8% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 5% Slovak 3% Lithuanian 3%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 92% English-only · Spanish 6%

Political lean MEDSL · Coos

• 2024 margin: R (+19.9) · D 38.7% · R 58.5% · Other 2.8%
• 2008→2024 swing: -16.8pp toward R · 2008: -3.1pp · 2024: -19.9pp
• All cycles: 2024: R+19.9 2020: R+20.5 2016: R+24.3 2012: R+6.3 2008: R+3.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -315.58%
• Current HPI: 198.3249
• Rent YoY: ▲ 8.65%
• Metro: Coos Bay, 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

-26.7% since first listed

9 events — show timeline

• 2026-05-03 Price Changed $165,000 RMLS
• 2026-05-03 Price Changed $165,000 RMLS
• 2026-03-25 Price Changed $199,000 RMLS
• 2026-03-25 Price Changed $199,000 RMLS
• 2026-03-20 Price Changed $219,000 RMLS
• 2026-03-20 Price Changed $219,000 RMLS
• 2026-03-09 Price Changed $225,000 RMLS
• 2026-03-08 Listed $22,500 RMLS
• 2026-03-08 Listed $225,000 RMLS

Property tax history

+4.8%/yr

Latest (2025): $1,076 · +1.8% YoY. Source: county tax records.