4000 Round Lake Rd #106 · Keno, OR 97601

$75,000

3 bd · 2.0 ba · 1,512 sqft · Manufactured public records · 215 Days on market

Built 1993 $50/sqft · 72% below area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.3/5.0
• Schools +2.5/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This manufactured home in Round Lake Estates has a split floorplan with an open concept layout; the primary bedroom and bathroom on one end and the other two bedrooms and bathroom at the other end of the home. Living room, dining area, kitchen, and family room are spacious, in the center of the house and have great natural light. The metal roof is only 5 years old; appliances are about three years old and there is a pellet stove and ductless heat/AC unit for year round comfort. Some upgrades have been completed but materials are on site for completing a total remodel. The home is in good shape to move right in and then work on various projects as time allows. This is an ''as is'' sale. Make your appointment today.

Key facts

• Parking
• Built 1993
• Listed 214 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $75k.

Deal economics

• At list price, monthly cash flow is $796 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 20.1% vs local median 3.0% in Keno — 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: area grade B — 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: Rents rising (+3.1%/yr); 493 active listings in the ZIP; 232 units permitted in Klamath County in 2024 (72 in 5+ unit buildings).
• This rent runs 39% 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 $519 of loan paydown is wiped out by about $2k 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 + 3.1% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 215 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $8k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $27k; list at $75k implies a 178% 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 $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 215 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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: 2.23% ✓
• Cap rate: 20.09%
• Cash-on-cash: 49.28%
• DSCR: 3.19
• GRM: 3.7

CMA / ARV

• ARV (median comp): $271,122
• List price: $75,000
• Delta: -72.34%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4000 Round Lake Rd Spc 98	0.00mi	3/2.0	1,584 (+5%)	2mo	$57,800	$36	90
14107 Ravenwood Dr	0.30mi	3/2.0	1,512 (0%)	2mo	$216,000	$143	84
4000 Round Lake Rd #103	0.00mi	2/2.0 (-1)	1,440 (-5%)	20mo	$60,000	$42	70
14008 Ravenwood Dr	0.29mi	3/2.0	1,392 (-8%)	14mo	$260,000	$187	62
14013 Ravenwood Dr	0.31mi	3/2.0	1,620 (+7%)	22mo	$280,000	$173	56
14214 Meadowbrook Ct	0.28mi	3/2.0	1,296 (-14%)	13mo	$295,000	$228	52
13903 Ravenwood Dr	0.33mi	3/2.0	1,296 (-14%)	10mo	$278,000	$215	52
4366 Round Lake Rd	0.42mi	3/2.0	1,344 (-11%)	21mo	$360,000	$268	45

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: 42.8%
• Equity multiple: 2.85×
• Total profit: $38,770
• Equity at exit: $11,183

10-year hold

• IRR: 48.9%
• Equity multiple: 5.76×
• Total profit: $99,987
• Equity at exit: $6,485

Cash invested: $21,000 (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 97601

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

Monthly cashflow live

• Estimated rent: $1,673 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$35 /mo · $419/yr
• Insurance: −$31
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $796

Break-even live

Break-even rent $666

Max offer price $75,000

Occupancy floor 47%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-19
   days on market $75,000 Active 215 DOM
2. 2026-06-18
   days on market $75,000 Active 214 DOM
3. 2026-06-17
   days on market $75,000 Active 213 DOM
4. 2026-06-16
   days on market $75,000 Active 212 DOM
5. 2026-06-15
   days on market $75,000 Active 211 DOM
6. 2026-06-14
   days on market $75,000 Active 209 DOM
7. 2026-06-12
   days on market $75,000 Active 208 DOM
8. 2026-06-09
   days on market $75,000 Active 205 DOM
9. 2026-06-08
   days on market $75,000 Active 204 DOM
10. 2026-06-07
    days on market $75,000 Active 203 DOM
11. 2026-06-05
    pricestatusdays on market $75,000 Active 200 DOM
12. 2026-05-11
    status Pending 723-char remark

    Show marketing remark (723 chars)

    This manufactured home in Round Lake Estates has a split floorplan with an open concept layout; the primary bedroom and bathroom on one end and the other two bedrooms and bathroom at the other end of the home. Living room, dining area, kitchen, and family room are spacious, in the center of the house and have great natural light. The metal roof is only 5 years old; appliances are about three years old and there is a pellet stove and ductless heat/AC unit for year round comfort. Some upgrades have been completed but materials are on site for completing a total remodel. The home is in good shape to move right in and then work on various projects as time allows. This is an ''as is'' sale. Make your appointment today.

13. 2026-04-23
    price $73,000 723-char remark

    Show marketing remark (723 chars)

    This manufactured home in Round Lake Estates has a split floorplan with an open concept layout; the primary bedroom and bathroom on one end and the other two bedrooms and bathroom at the other end of the home. Living room, dining area, kitchen, and family room are spacious, in the center of the house and have great natural light. The metal roof is only 5 years old; appliances are about three years old and there is a pellet stove and ductless heat/AC unit for year round comfort. Some upgrades have been completed but materials are on site for completing a total remodel. The home is in good shape to move right in and then work on various projects as time allows. This is an ''as is'' sale. Make your appointment today.

14. 2026-02-07
    status Active 723-char remark

    Show marketing remark (723 chars)

    This manufactured home in Round Lake Estates has a split floorplan with an open concept layout; the primary bedroom and bathroom on one end and the other two bedrooms and bathroom at the other end of the home. Living room, dining area, kitchen, and family room are spacious, in the center of the house and have great natural light. The metal roof is only 5 years old; appliances are about three years old and there is a pellet stove and ductless heat/AC unit for year round comfort. Some upgrades have been completed but materials are on site for completing a total remodel. The home is in good shape to move right in and then work on various projects as time allows. This is an ''as is'' sale. Make your appointment today.

15. 2026-02-05
    status Active 723-char remark

    Show marketing remark (723 chars)

    This manufactured home in Round Lake Estates has a split floorplan with an open concept layout; the primary bedroom and bathroom on one end and the other two bedrooms and bathroom at the other end of the home. Living room, dining area, kitchen, and family room are spacious, in the center of the house and have great natural light. The metal roof is only 5 years old; appliances are about three years old and there is a pellet stove and ductless heat/AC unit for year round comfort. Some upgrades have been completed but materials are on site for completing a total remodel. The home is in good shape to move right in and then work on various projects as time allows. This is an ''as is'' sale. Make your appointment today.

16. 2026-02-05
    price $77,000 723-char remark

    Show marketing remark (723 chars)

    This manufactured home in Round Lake Estates has a split floorplan with an open concept layout; the primary bedroom and bathroom on one end and the other two bedrooms and bathroom at the other end of the home. Living room, dining area, kitchen, and family room are spacious, in the center of the house and have great natural light. The metal roof is only 5 years old; appliances are about three years old and there is a pellet stove and ductless heat/AC unit for year round comfort. Some upgrades have been completed but materials are on site for completing a total remodel. The home is in good shape to move right in and then work on various projects as time allows. This is an ''as is'' sale. Make your appointment today.

17. 2026-02-04
    historical 723-char remark

    Show marketing remark (723 chars)

    This manufactured home in Round Lake Estates has a split floorplan with an open concept layout; the primary bedroom and bathroom on one end and the other two bedrooms and bathroom at the other end of the home. Living room, dining area, kitchen, and family room are spacious, in the center of the house and have great natural light. The metal roof is only 5 years old; appliances are about three years old and there is a pellet stove and ductless heat/AC unit for year round comfort. Some upgrades have been completed but materials are on site for completing a total remodel. The home is in good shape to move right in and then work on various projects as time allows. This is an ''as is'' sale. Make your appointment today.

18. 2026-01-30
    historical 723-char remark

    Show marketing remark (723 chars)

    This manufactured home in Round Lake Estates has a split floorplan with an open concept layout; the primary bedroom and bathroom on one end and the other two bedrooms and bathroom at the other end of the home. Living room, dining area, kitchen, and family room are spacious, in the center of the house and have great natural light. The metal roof is only 5 years old; appliances are about three years old and there is a pellet stove and ductless heat/AC unit for year round comfort. Some upgrades have been completed but materials are on site for completing a total remodel. The home is in good shape to move right in and then work on various projects as time allows. This is an ''as is'' sale. Make your appointment today.

19. 2025-11-06
    price $79,000 723-char remark

    Show marketing remark (723 chars)

    This manufactured home in Round Lake Estates has a split floorplan with an open concept layout; the primary bedroom and bathroom on one end and the other two bedrooms and bathroom at the other end of the home. Living room, dining area, kitchen, and family room are spacious, in the center of the house and have great natural light. The metal roof is only 5 years old; appliances are about three years old and there is a pellet stove and ductless heat/AC unit for year round comfort. Some upgrades have been completed but materials are on site for completing a total remodel. The home is in good shape to move right in and then work on various projects as time allows. This is an ''as is'' sale. Make your appointment today.

20. 2025-10-17
    listed $83,500 Active 723-char remark

    Show marketing remark (723 chars)

    This manufactured home in Round Lake Estates has a split floorplan with an open concept layout; the primary bedroom and bathroom on one end and the other two bedrooms and bathroom at the other end of the home. Living room, dining area, kitchen, and family room are spacious, in the center of the house and have great natural light. The metal roof is only 5 years old; appliances are about three years old and there is a pellet stove and ductless heat/AC unit for year round comfort. Some upgrades have been completed but materials are on site for completing a total remodel. The home is in good shape to move right in and then work on various projects as time allows. This is an ''as is'' sale. Make your appointment today.

21. 2025-09-03
    historical
22. 2025-07-28
    price $75,000
23. 2025-07-04
    price $78,000
24. 2025-03-03
    listed $85,000 Active
25. 2002-05-30
    soldstatus $26,950

ⓘ 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: $419 · $35/mo
• Projected year-2 tax: $728 · $61/mo
• Expected delta: +$308/yr (+$26/mo · 73.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X · 99% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 3/10 Moderate 8 d/yr ≥90°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 28 unhealthy d/yr today · 30 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,079
• − Mortgage interest: −$4,201
• − Property taxes: −$419
• − Insurance: −$1,172
• − Repairs & maintenance: −$1,606
• − Management: −$1,606
• − Depreciation: −$2,182
• Taxable income: $8,891
• Est. tax owed @ 24.0%: −$2,134
• After-tax cash flow: $7,417/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 — Keno

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

Census & demographics

• County: Klamath County · 56,186 people
• 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

+170.9% since first listed

14 events — show timeline

• 2026-05-11 Pending — MLSCO
• 2026-04-23 Price Changed $73,000 MLSCO
• 2026-02-07 Relisted — MLSCO
• 2026-02-05 Relisted — MLSCO
• 2026-02-05 Price Changed $77,000 MLSCO
• 2026-02-04 Listing Removed — MLSCO
• 2026-01-30 Listing Removed — MLSCO
• 2025-11-06 Price Changed $79,000 MLSCO
• 2025-10-17 Listed $83,500 MLSCO
• 2025-09-03 Listing Removed — MLSCO
• 2025-07-28 Price Changed $75,000 MLSCO
• 2025-07-04 Price Changed $78,000 MLSCO
• 2025-03-03 Listed $85,000 MLSCO
• 2002-05-30 Sold (Public Records) $26,950 Public Records

Property tax history

+5.7%/yr

Latest (2025): $419 · +2.6% YoY. Source: county tax records.