4621 Alt Ct · Altamont, OR 97603

$162,500

2 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 39 Days on market

Built 1973 5,227 sqft lot $121/sqft · 22% below area Est $207k · 22% under $12/mo HOA · 1% 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 +20.1/30.0
• ARV discount +15.0/15.0
• DSCR +6.4/10.0
• 1% rule +4.4/10.0
• 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

This two bedroom and two bath home has had a lot of updating done to it in the past few years. There is new laminate flooring. The kitchen has newer appliances throughout. There is an updated gas furnace and AC. There is a carport for covered parking and full covered patio in the back. It is located in a good neighborhood with minimal traffic for the kids. The HOA has an extra area for RV parking that is included in the fees. Don't miss out on this ready to move-in home.

Key facts

• Updated gas furnace
• Covered parking
• Newer appliances

Tags

• NEW LAMINATE FLOORING
• NEWER APPLIANCES
• UPDATED GAS FURNACE
• COVERED PARKING
• FULL COVERED PATIO
• EXTRA AREA FOR RV PARKING

Property features AI

Finance

• Other: Lot size approximately 0.12 acres
• Financial info: Property is not currently rented
• HOA & community: Has association; $140 annual fee; Association offers RV/boat storage; CCRs in place

Exterior

• Parking: Concrete parking
• Security: No audio or video surveillance on the premises
• Utilities: Public water; Public sewer; Natural gas connected; Public utilities
• Home design: Manufactured on land (double wide); One story; Residential property
• Construction: Built in 1973; Concrete perimeter foundation; No common walls
• Exterior features: Metal roof; Lot in KC low density zoning; No accessory dwelling unit

Interior

• Kitchen: Standard kitchen (appliances not specified)
• Bedrooms: 2 bedrooms
• Flooring: Laminate flooring; Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Laminate and vinyl flooring; Living room; Kitchen; Laundry
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $162k.

Deal economics

• At list price, monthly cash flow is $201 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $153k (5.7% below list).
• Recommended offer: $153k (5.7% below list) — sets the bar for 1% rule.
• Cap rate 7.8% 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.
• Zoned schools: Ferguson Elementary School (math 27% / reading 37%, grade F, #246 of 412 statewide, top 60%, 539 students, 74% FRL); Henley Middle School (math 22% / reading 47%, grade F, #61 of 128 statewide, top 54%, 419 students, 72% FRL); Henley High School (693 students, 73% FRL).
• Market conditions: Rents rising (+3.8%/yr); 264 active listings in the ZIP; 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 $1k of loan paydown is wiped out by about $5k 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 39 days — a 3% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 25y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $50k; list at $162k implies a 225% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $153,163 (5.7% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 0.94% ✗
• Cap rate: 7.78%
• Cash-on-cash: 5.30%
• DSCR: 1.24
• GRM: 8.8

CMA / ARV

• ARV (median comp): $207,272
• List price: $162,500
• Delta: -21.60%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4609 Alt Ct	0.03mi	2/2.0	1,344 (0%)	5mo	$155,000	$115	94
7310 Flag Ct	0.03mi	3/2.0 (+1)	1,488 (+11%)	11mo	$195,000	$131	66
4538 Bellm Dr	0.27mi	3/2.0 (+1)	1,440 (+7%)	6mo	$135,000	$94	65
7119 Turner Ct	0.11mi	3/2.0 (+1)	1,248 (-7%)	16mo	$225,000	$180	65
4746 Sayler St	0.38mi	3/2.0 (+1)	1,248 (-7%)	2mo	$280,000	$224	64
7124 Turner Ct	0.08mi	3/2.0 (+1)	1,440 (+7%)	22mo	$165,000	$115	61
7204 Boyd Ct	0.07mi	2/2.0	1,152 (-14%)	23mo	$155,000	$135	53
4762 Sayler St	0.38mi	3/2.0 (+1)	1,144 (-15%)	7mo	$250,000	$219	47

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: -7.3%
• Equity multiple: 0.73×
• Total profit: $-12,342
• Equity at exit: $24,229

10-year hold

• IRR: 3.2%
• Equity multiple: 1.24×
• Total profit: $10,720
• Equity at exit: $14,050

Cash invested: $45,500 (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: 264
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,532 medium
• Mortgage (P&I): −$852
• Tax from tax record: −$77 /mo · $927/yr
• Insurance: −$68
• HOA: −$12
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $201

Break-even live

Break-even rent $1,277

Max offer price $162,500

Occupancy floor 82%

Sensitivity live

Price	-10% $293	-5% $247	+0% $201	+5% $155	+10% $109
Rent	-10% $80	-5% $140	+0% $201	+5% $261	+10% $322
Rate	-1.0pp $283	-0.5pp $242	base $201	+0.5pp $159	+1.0pp $116

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: $40,625
• Closing costs: $4,875
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $12 · $144/yr
• Likely covers: gas

Listing history 36 events

1. 2026-06-22
   days on market $162,500 Active 39 DOM
2. 2026-06-19
   days on market $162,500 Active 36 DOM
3. 2026-06-18
   days on market $162,500 Active 35 DOM
4. 2026-06-17
   days on market $162,500 Active 34 DOM
5. 2026-06-16
   days on market $162,500 Active 33 DOM
6. 2026-06-15
   days on market $162,500 Active 32 DOM
7. 2026-06-14
   days on market $162,500 Active 30 DOM
8. 2026-06-12
   days on market $162,500 Active 29 DOM
9. 2026-06-09
   days on market $162,500 Active 26 DOM
10. 2026-06-08
    days on market $162,500 Active 25 DOM
11. 2026-06-07
    days on market $162,500 Active 24 DOM
12. 2026-06-05
    days on market $162,500 Active 21 DOM
13. 2026-06-02
    days on market $162,500 Active 19 DOM
14. 2026-06-01
    days on market $162,500 Active 18 DOM
15. 2026-05-31
    days on market $162,500 Active 17 DOM
16. 2026-05-30
    days on market $162,500 Active 16 DOM
17. 2026-05-14
    listed $162,500 Active 475-char remark
18. 2025-12-31
    historical
19. 2025-07-10
    listed $175,000 Active
20. 2020-10-06
    historical
21. 2020-10-06
    status Pending
22. 2020-08-22
    price $100,000
23. 2020-07-27
    listed $105,000 Active
24. 2020-04-30
    historical
25. 2020-04-26
    historical
26. 2019-04-03
    listed $105,000
27. 2018-07-18
    listed $110,000
28. 2011-07-26
    soldstatus $50,000
29. 2011-07-22
    soldstatus $50,000
30. 2011-05-13
    listed $50,000
31. 2002-05-09
    soldstatus $40,950
32. 2002-05-09
    soldstatus $40,950
33. 2002-05-09
    soldstatus $40,950
34. 2002-05-08
    soldstatus $45,000
35. 2002-05-02
    soldstatus $40,950
36. 2001-10-30
    listed $44,900

ⓘ 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: $927 · $77/mo
• Projected year-2 tax: $1,576 · $131/mo
• Expected delta: +$650/yr (+$54/mo · 70.1%)

ⓘ 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 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥90°F today · 16 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: $18,380
• − Mortgage interest: −$9,103
• − Property taxes: −$927
• − Insurance: −$812
• − Repairs & maintenance: −$1,470
• − Management: −$1,470
• − HOA: −$144
• − Depreciation: −$4,727
• Taxable loss: −$274
• Est. tax savings @ 24.0%: +$66
• After-tax cash flow: $2,476/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

+261.9% since first listed

20 events — show timeline

• 2026-05-14 Listed $162,500 MLSCO
• 2025-12-31 Listing Removed — MLSCO
• 2025-07-10 Listed $175,000 MLSCO
• 2020-10-06 Listing Removed — MLSCO
• 2020-10-06 Pending — MLSCO
• 2020-08-22 Price Changed $100,000 MLSCO
• 2020-07-27 Listed $105,000 MLSCO
• 2020-04-30 Listing Removed — MLSCO
• 2020-04-26 Listing Removed — MLSCO
• 2019-04-03 Listed $105,000 MLSCO
• 2018-07-18 Listed $110,000 MLSCO
• 2011-07-26 Sold (MLS) $50,000 MLSCO
• 2011-07-22 Sold (Public Records) $50,000 Public Records
• 2011-05-13 Listed $50,000 MLSCO
• 2002-05-09 Sold (Public Records) $40,950 Public Records
• 2002-05-09 Sold (Public Records) $40,950 Public Records
• 2002-05-09 Sold (MLS) $40,950 MLSCO
• 2002-05-08 Sold (Public Records) $45,000 Public Records
• 2002-05-02 Sold (Public Records) $40,950 Public Records
• 2001-10-30 Listed $44,900 MLSCO

Property tax history

+0.8%/yr

Latest (2025): $927 · -11.0% YoY. Source: county tax records.