67624 Spinreel Rd Unit 34B · North Bend, OR 97459

$84,995

3 bd · 2.0 ba · 924 sqft · MultiFamily public records · 159 Days on market

Built 1990 $92/sqft · 56% 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

This well cared-for manufactured home in Dunes Mobile offers a tranquil retreat just minutes from dune access and a short drive to Horsefall Beach. Nestled on a quiet dead-end street, the property ensures privacy with minimal traffic and is surrounded by lush trees. Featuring three bedrooms and two full bathrooms, the layout places bedrooms on either side of the home for enhanced seclusion. Ideal for entertaining, the residence includes a spacious, covered front porch and a fenced yard, perfect for small children or pets. With some siding replaced in 2025 and fresh exterior paint, this home is move in ready whether you're looking for full-time living or a vacation getaway. Additionally, a detached shop enhances the property's appeal for storing items or working on projects, making it a perfect choice for those seeking a peaceful atmosphere while remaining close to local amenities. Space rent is $655/month and includes garbage & sewer.

Key facts

• Covered front porch
• Dune access
• Detached shop

Tags

• DUNE ACCESS
• COVERED FRONT PORCH
• FENCED IN YARD
• DETACHED SHOP

🏷️ Possibly a rental listed for sale. The $84,995 price doesn't fit this home's estimated sale value (~$192,038) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $85k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 28.4% vs local median 3.6% in North Bend — 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 72/100 on livability (#105 in OR) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living B+; Watch: employment C-, amenities F, commute F.
• North Bend SD 13 (town): math 30% / reading 47% proficiency, ranked #21 of 58 in OR (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 170 active listings in the ZIP; 122 units permitted in Coos County in 2024 (16 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($587 loan paydown + $8k appreciation (10.0% local appreciation)).
• Coos County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 159 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $10k; list at $85k implies a 750% gain — meaningful room to come down on a strong offer.

Recommended offer $74,795 (12.0% below list)

Questions for the listing agent

1. It's been on market 159 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 3.07% ✓
• Cap rate: 28.36%
• Cash-on-cash: 78.81%
• DSCR: 4.51
• GRM: 2.7

CMA / ARV

• ARV (median comp): $192,038
• List price: $84,995
• Delta: -55.74%
• Verdict: UNDERPRICED
• Comps: 12 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 88.9%
• Equity multiple: 7.13×
• Total profit: $145,826
• Equity at exit: $76,570

10-year hold

• IRR: 83.6%
• Equity multiple: 15.75×
• Total profit: $351,120
• Equity at exit: $165,127

Cash invested: $23,799 (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 97459

• Home prices YoY: 1.6%
• Active inventory: 170
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $2,612 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$19 /mo · $232/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$549
• Net cashflow: $1,563

Break-even live

Break-even rent $634

Max offer price $84,995

Occupancy floor 35%

Sensitivity live

Price	-10% $1,611	-5% $1,587	+0% $1,563	+5% $1,539	+10% $1,515
Rent	-10% $1,357	-5% $1,460	+0% $1,563	+5% $1,666	+10% $1,769
Rate	-1.0pp $1,606	-0.5pp $1,585	base $1,563	+0.5pp $1,541	+1.0pp $1,519

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,612
Total (2 units)			$2,612

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: $21,249
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-21
   days on market $84,995 Active 159 DOM
2. 2026-06-19
   days on market $84,995 Active 157 DOM
3. 2026-06-18
   days on market $84,995 Active 156 DOM
4. 2026-06-17
   days on market $84,995 Active 155 DOM
5. 2026-06-16
   days on market $84,995 Active 154 DOM
6. 2026-06-15
   days on market $84,995 Active 153 DOM
7. 2026-06-14
   days on market $84,995 Active 151 DOM
8. 2026-06-12
   days on market $84,995 Active 150 DOM
9. 2026-06-09
   days on market $84,995 Active 147 DOM
10. 2026-06-09
    price $84,995 Active 146 DOM
11. 2026-06-08
    days on market $94,999 Active 146 DOM
12. 2026-06-07
    days on market $94,999 Active 145 DOM
13. 2026-06-05
    days on market $94,999 Active 142 DOM
14. 2026-06-03
    days on market $94,999 Active 141 DOM
15. 2026-06-02
    days on market $94,999 Active 140 DOM
16. 2026-06-01
    days on market $94,999 Active 139 DOM
17. 2026-05-31
    days on market $94,999 Active 138 DOM
18. 2026-05-30
    days on market $94,999 Active 137 DOM
19. 2026-05-08
    status Active 952-char remark

    Show marketing remark (952 chars)

    This well cared-for manufactured home in Dunes Mobile offers a tranquil retreat just minutes from dune access and a short drive to Horsefall Beach. Nestled on a quiet dead-end street, the property ensures privacy with minimal traffic and is surrounded by lush trees. Featuring three bedrooms and two full bathrooms, the layout places bedrooms on either side of the home for enhanced seclusion. Ideal for entertaining, the residence includes a spacious, covered front porch and a fenced yard, perfect for small children or pets. With some siding replaced in 2025 and fresh exterior paint, this home is move in ready whether you're looking for full-time living or a vacation getaway. Additionally, a detached shop enhances the property's appeal for storing items or working on projects, making it a perfect choice for those seeking a peaceful atmosphere while remaining close to local amenities. Space rent is $655/month and includes garbage & sewer.

20. 2026-04-23
    status Pending 952-char remark

    Show marketing remark (952 chars)

    This well cared-for manufactured home in Dunes Mobile offers a tranquil retreat just minutes from dune access and a short drive to Horsefall Beach. Nestled on a quiet dead-end street, the property ensures privacy with minimal traffic and is surrounded by lush trees. Featuring three bedrooms and two full bathrooms, the layout places bedrooms on either side of the home for enhanced seclusion. Ideal for entertaining, the residence includes a spacious, covered front porch and a fenced yard, perfect for small children or pets. With some siding replaced in 2025 and fresh exterior paint, this home is move in ready whether you're looking for full-time living or a vacation getaway. Additionally, a detached shop enhances the property's appeal for storing items or working on projects, making it a perfect choice for those seeking a peaceful atmosphere while remaining close to local amenities. Space rent is $655/month and includes garbage & sewer.

21. 2026-03-28
    price $94,999 952-char remark

    Show marketing remark (952 chars)

    This well cared-for manufactured home in Dunes Mobile offers a tranquil retreat just minutes from dune access and a short drive to Horsefall Beach. Nestled on a quiet dead-end street, the property ensures privacy with minimal traffic and is surrounded by lush trees. Featuring three bedrooms and two full bathrooms, the layout places bedrooms on either side of the home for enhanced seclusion. Ideal for entertaining, the residence includes a spacious, covered front porch and a fenced yard, perfect for small children or pets. With some siding replaced in 2025 and fresh exterior paint, this home is move in ready whether you're looking for full-time living or a vacation getaway. Additionally, a detached shop enhances the property's appeal for storing items or working on projects, making it a perfect choice for those seeking a peaceful atmosphere while remaining close to local amenities. Space rent is $655/month and includes garbage & sewer.

22. 2026-01-18
    price $99,999 952-char remark

    Show marketing remark (952 chars)

    This well cared-for manufactured home in Dunes Mobile offers a tranquil retreat just minutes from dune access and a short drive to Horsefall Beach. Nestled on a quiet dead-end street, the property ensures privacy with minimal traffic and is surrounded by lush trees. Featuring three bedrooms and two full bathrooms, the layout places bedrooms on either side of the home for enhanced seclusion. Ideal for entertaining, the residence includes a spacious, covered front porch and a fenced yard, perfect for small children or pets. With some siding replaced in 2025 and fresh exterior paint, this home is move in ready whether you're looking for full-time living or a vacation getaway. Additionally, a detached shop enhances the property's appeal for storing items or working on projects, making it a perfect choice for those seeking a peaceful atmosphere while remaining close to local amenities. Space rent is $655/month and includes garbage & sewer.

23. 2025-12-29
    listed $110,000 Active 952-char remark

    Show marketing remark (952 chars)

    This well cared-for manufactured home in Dunes Mobile offers a tranquil retreat just minutes from dune access and a short drive to Horsefall Beach. Nestled on a quiet dead-end street, the property ensures privacy with minimal traffic and is surrounded by lush trees. Featuring three bedrooms and two full bathrooms, the layout places bedrooms on either side of the home for enhanced seclusion. Ideal for entertaining, the residence includes a spacious, covered front porch and a fenced yard, perfect for small children or pets. With some siding replaced in 2025 and fresh exterior paint, this home is move in ready whether you're looking for full-time living or a vacation getaway. Additionally, a detached shop enhances the property's appeal for storing items or working on projects, making it a perfect choice for those seeking a peaceful atmosphere while remaining close to local amenities. Space rent is $655/month and includes garbage & sewer.

24. 1998-10-01
    soldstatus $10,000
25. 1998-05-01
    soldstatus $5,000
26. 1998-03-08
    soldstatus $6,500
27. 1989-11-01
    soldstatus $410,000
28. 1985-02-01
    soldstatus $300,000

ⓘ 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: $232 · $19/mo
• Projected year-2 tax: $824 · $69/mo
• Expected delta: +$592/yr (+$49/mo · 255.4%)

ⓘ 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 ≥79°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 8 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,344
• − Mortgage interest: −$4,761
• − Property taxes: −$232
• − Insurance: −$425
• − Repairs & maintenance: −$2,508
• − Management: −$2,508
• − Depreciation: −$2,473
• Taxable income: $18,438
• Est. tax owed @ 24.0%: −$4,425
• After-tax cash flow: $14,331/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: North Bend SD 13
• NCES district ID: 4108820
• Math proficiency: 30% ▼ -3.00%
• Reading proficiency: 47% ▼ -6.00%
• Median HH income: $43,614
• Composite: 32.57/100
• National rank: #5681
• State rank: #21 of 58 in OR

Livability — North Bend

• Score: 72/100
• State rank: #105
• US rank: #5876

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 15,328

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 (82%)
• Race & ethnicity: White 82% Two or more races 10% Hispanic / Latino 7% Asian 3% Native American 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 7% Portuguese 4% Lithuanian 3%
• Foreign-born: 5% · Canada, China, Philippines
• Languages at home: 94% English-only · Spanish 2% Chinese 1% Other Asian/Pacific 1%

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: ▲ 14.02%
• Current HPI: 887.7
• 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

-68.3% since first listed

10 events — show timeline

• 2026-05-08 Relisted — RMLS
• 2026-04-23 Pending — RMLS
• 2026-03-28 Price Changed $94,999 RMLS
• 2026-01-18 Price Changed $99,999 RMLS
• 2025-12-29 Listed $110,000 RMLS
• 1998-10-01 Sold (Public Records) $10,000 Public Records
• 1998-05-01 Sold (Public Records) $5,000 Public Records
• 1998-03-08 Sold (Public Records) $6,500 Public Records
• 1989-11-01 Sold (Public Records) $410,000 Public Records
• 1985-02-01 Sold (Public Records) $300,000 Public Records

Property tax history

+2.1%/yr

Latest (2025): $232 · +0.6% YoY. Source: county tax records.