125 N 4th St

Lakeside, OR 97449

$195,000C

2 bd · 1.5 ba · 728 sqft · Built 1975 · Land · Active · 380 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,850/mo
• Mortgage (P&I): −$1,023
• Tax + insurance: −$543
• HOA: −$0
• Vac / Maint / Mgmt: −$388
• Net cashflow: $-104/mo
• Annual: $-1,248/yr
• Cap rate: 8.28%
• Cash-on-cash: 7.09%
• DSCR: 1.32
• 1% rule: 0.95%
• Cash to close: $54,600

Investor read

• This is a 2-bed/1.5-bath land listed at $195k.
• At list price, monthly cash flow is $-104 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $177k (9.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $185k (5.1% below list).
• It's been on market 380 days — a 12% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $172k (12.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($1k loan paydown + $2k appreciation (0.9% local appreciation)).
• Location reads 64/100 on livability (#215 in OR) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living A; Watch: health & safety C-, employment D+, amenities 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.
• Zoned schools: North Bay Elementary School (math 34% / reading 42%, grade F, #197 of 412 statewide, top 48%, 443 students, 69% FRL); North Bend Middle School (math 24% / reading 45%, grade F, #61 of 128 statewide, top 54%, 494 students, 68% FRL); North Bend Senior High School (math 75% / reading 75%, grade A-, #2 of 143 statewide, top 6%, 731 students, 30% FRL) — zoned schools average 56% FRL vs 40% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: 87 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 122 units permitted in Coos County in 2024 (16 in 5+ unit buildings).
• Coos County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $34k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; list at $195k implies a 160% gain — meaningful room to come down on a strong offer.
• By year 10, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.3% vs local median 3.7% in Lakeside — 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 380 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.