4647 Winter Ave #68 · Altamont, OR 97603

$95,000

3 bd · 2.0 ba · 1,026 sqft · Manufactured public records · 334 Days on market

Built 1999 $93/sqft · at area comps Est $92k · at est.

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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 +6.2/15.0
• 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 MLS

1 Year First American Home Warranty for new owners. Great suburban location close to schools. Newer quality roof on home and super-sized carport. The roof is Owens Corning Oakridge and was installed in 2019. The heating and air conditioning is a Mitsubishi Mini Split. Lots of new Benjamin Moore paint and bathroom upgrade with super quiet exhaust fans. Ceiling fan with remote and many other improvements that newer units don't provide. Call your agent to schedule a showing to come see this 1999 Fleetwood 3-bedroom 2-bath at Shasta Glen. Owner will be leaving the following and they are inclusions with the listing, three system security system with large monitor, 55'' smart TV, washer, dryer, all window furnishings, patio table and chairs and front yard artistic bench. Owner is moving from the area and has other items they may be willing to part with upon proper negotiations. Interior pictures coming soon.

Key facts

• Super sized carport
• Newer quality roof
• Bathroom upgrade

Tags

• NEWER QUALITY ROOF
• SUPER SIZED CARPORT
• MITSUBISHI MINI SPLIT
• BATHROOM UPGRADE
• SUPER QUIET EXHAUST FANS
• CEILING FAN WITH REMOTE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $95k.

Deal economics

• At list price, monthly cash flow is $607 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.0% 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.
• Market conditions: Rents rising (+3.8%/yr); 263 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $657 of loan paydown is wiped out by about $3k 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 + 3.8% rent growth), your $27k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 334 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y ago; this cycle's ask has dropped $25k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $22k; list at $95k implies a 322% gain — meaningful room to come down on a strong offer.

Recommended offer $83,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 334 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. 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?
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: 1.57% ✓
• Cap rate: 13.96%
• Cash-on-cash: 27.40%
• DSCR: 2.22
• GRM: 5.3

CMA / ARV

• ARV (median comp): $92,250
• List price: $95,000
• Delta: 2.98%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4647 Winter Ave Spc 36	0.00mi	3/2.0	1,100 (+7%)	3mo	$86,500	$79	85
4647 Winter Ave #50	0.02mi	3/2.0	900 (-12%)	4mo	$96,500	$107	76
4647 Winter Ave Spc 65	0.00mi	3/2.0	1,144 (+12%)	6mo	$113,000	$99	76
4647 Winter Ave #78	0.00mi	3/2.0	1,173 (+14%)	3mo	$125,000	$107	74
4647 Winter Ave #92	0.02mi	3/2.0	1,173 (+14%)	5mo	$123,000	$105	71
4647 Winter Ave Spc 53	0.02mi	3/2.0	1,173 (+14%)	8mo	$130,000	$111	69
3500 Summers Ln Unit 17	0.45mi	2/2.0 (-1)	1,080 (+5%)	4mo	$69,500	$64	62
4200 Summers Ln Unit 35	0.63mi	2/2.0 (-1)	924 (-10%)	1mo	$65,000	$70	48
4200 Summers Ln Unit 10	0.63mi	2/2.0 (-1)	1,109 (+8%)	5mo	$75,000	$68	48
4333 Bartlett Ave	0.66mi	2/2.0 (-1)	1,080 (+5%)	9mo	$110,000	$102	48
3500 Summers Ln #3	0.45mi	2/1.0 (-1)	900 (-12%)	7mo	$32,500	$36	44
2934 Summers Ln Unit 26	0.75mi	2/2.0 (-1)	924 (-10%)	3mo	$47,000	$51	41

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: 22.2%
• Equity multiple: 1.92×
• Total profit: $24,470
• Equity at exit: $14,165

10-year hold

• IRR: 30.7%
• Equity multiple: 3.86×
• Total profit: $76,060
• Equity at exit: $8,214

Cash invested: $26,600 (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: 263
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,496 high
• Mortgage (P&I): −$498
• Tax from tax record: −$36 /mo · $437/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $607

Break-even live

Break-even rent $727

Max offer price $95,000

Occupancy floor 54%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4195 Bristol Ct Klamath Falls, OR	2.0	1.0	1080	$1,350	$1.25	44d	1	0.29mi
3039 Kane St Klamath Falls, OR	3.0	2.0	988	$1,395	$1.41	44d	1	0.49mi
4306 Fargo St Klamath Falls, OR	3.0	2.0	1288	$1,850	$1.44	44d	1	0.49mi
4519 Cannon Ave Unit 22 Klamath Falls, OR	2.0	1.0	850	$1,000	$1.18	44d	1	0.82mi
4519 Cannon Ave Apt 2 Klamath Falls, OR	2.0	1.0	850	$1,050	$1.24	44d	1	0.82mi
4831 Darwin Pl Klamath Falls, OR	3.0	1.0	1092	$1,475	$1.35	44d	1	0.83mi
4507 Cannon Ave Apt 52 Klamath Falls, OR	2.0	1.0	850	$1,000	$1.18	44d	1	0.84mi
2439 Homedale Rd Klamath Falls, OR	3.0	1.0	1320	$1,400	$1.06	44d	1	0.93mi
2160 Arthur St Unit 5 Klamath Falls, OR	2.0	1.0	740	$995	$1.34	44d	1	1.42mi

Listing history 15 events

1. 2026-06-09
   days on market $95,000 Active 334 DOM
2. 2026-06-08
   days on market $95,000 Active 333 DOM
3. 2026-06-07
   days on market $95,000 Active 332 DOM
4. 2026-06-05
   days on market $95,000 Active 329 DOM
5. 2026-06-02
   days on market $95,000 Active 327 DOM
6. 2026-06-01
   days on market $95,000 Active 326 DOM
7. 2026-05-31
   days on market $95,000 Active 325 DOM
8. 2026-05-30
   days on market $95,000 Active 324 DOM
9. 2026-04-23
   price $95,000 915-char remark

   Show marketing remark (915 chars)

   1 Year First American Home Warranty for new owners. Great suburban location close to schools. Newer quality roof on home and super-sized carport. The roof is Owens Corning Oakridge and was installed in 2019. The heating and air conditioning is a Mitsubishi Mini Split. Lots of new Benjamin Moore paint and bathroom upgrade with super quiet exhaust fans. Ceiling fan with remote and many other improvements that newer units don't provide. Call your agent to schedule a showing to come see this 1999 Fleetwood 3-bedroom 2-bath at Shasta Glen. Owner will be leaving the following and they are inclusions with the listing, three system security system with large monitor, 55'' smart TV, washer, dryer, all window furnishings, patio table and chairs and front yard artistic bench. Owner is moving from the area and has other items they may be willing to part with upon proper negotiations. Interior pictures coming soon.

10. 2026-01-20
    price $100,000 915-char remark

    Show marketing remark (915 chars)

    1 Year First American Home Warranty for new owners. Great suburban location close to schools. Newer quality roof on home and super-sized carport. The roof is Owens Corning Oakridge and was installed in 2019. The heating and air conditioning is a Mitsubishi Mini Split. Lots of new Benjamin Moore paint and bathroom upgrade with super quiet exhaust fans. Ceiling fan with remote and many other improvements that newer units don't provide. Call your agent to schedule a showing to come see this 1999 Fleetwood 3-bedroom 2-bath at Shasta Glen. Owner will be leaving the following and they are inclusions with the listing, three system security system with large monitor, 55'' smart TV, washer, dryer, all window furnishings, patio table and chairs and front yard artistic bench. Owner is moving from the area and has other items they may be willing to part with upon proper negotiations. Interior pictures coming soon.

11. 2025-08-21
    price $110,000 915-char remark

    Show marketing remark (915 chars)

    1 Year First American Home Warranty for new owners. Great suburban location close to schools. Newer quality roof on home and super-sized carport. The roof is Owens Corning Oakridge and was installed in 2019. The heating and air conditioning is a Mitsubishi Mini Split. Lots of new Benjamin Moore paint and bathroom upgrade with super quiet exhaust fans. Ceiling fan with remote and many other improvements that newer units don't provide. Call your agent to schedule a showing to come see this 1999 Fleetwood 3-bedroom 2-bath at Shasta Glen. Owner will be leaving the following and they are inclusions with the listing, three system security system with large monitor, 55'' smart TV, washer, dryer, all window furnishings, patio table and chairs and front yard artistic bench. Owner is moving from the area and has other items they may be willing to part with upon proper negotiations. Interior pictures coming soon.

12. 2025-07-28
    price $115,000 915-char remark

    Show marketing remark (915 chars)

    1 Year First American Home Warranty for new owners. Great suburban location close to schools. Newer quality roof on home and super-sized carport. The roof is Owens Corning Oakridge and was installed in 2019. The heating and air conditioning is a Mitsubishi Mini Split. Lots of new Benjamin Moore paint and bathroom upgrade with super quiet exhaust fans. Ceiling fan with remote and many other improvements that newer units don't provide. Call your agent to schedule a showing to come see this 1999 Fleetwood 3-bedroom 2-bath at Shasta Glen. Owner will be leaving the following and they are inclusions with the listing, three system security system with large monitor, 55'' smart TV, washer, dryer, all window furnishings, patio table and chairs and front yard artistic bench. Owner is moving from the area and has other items they may be willing to part with upon proper negotiations. Interior pictures coming soon.

13. 2025-07-10
    listed $120,000 Active 915-char remark

    Show marketing remark (915 chars)

    1 Year First American Home Warranty for new owners. Great suburban location close to schools. Newer quality roof on home and super-sized carport. The roof is Owens Corning Oakridge and was installed in 2019. The heating and air conditioning is a Mitsubishi Mini Split. Lots of new Benjamin Moore paint and bathroom upgrade with super quiet exhaust fans. Ceiling fan with remote and many other improvements that newer units don't provide. Call your agent to schedule a showing to come see this 1999 Fleetwood 3-bedroom 2-bath at Shasta Glen. Owner will be leaving the following and they are inclusions with the listing, three system security system with large monitor, 55'' smart TV, washer, dryer, all window furnishings, patio table and chairs and front yard artistic bench. Owner is moving from the area and has other items they may be willing to part with upon proper negotiations. Interior pictures coming soon.

14. 2017-03-16
    soldstatus $22,500 146-char remark

    Show marketing remark (146 chars)

    This 3 bedroom 2 bath home is in the Shasta Glen mobile home park. It has a split floor plan. There is a carport and nice sized back yard as well.

15. 2017-01-26
    listed $25,000 146-char remark

    Show marketing remark (146 chars)

    This 3 bedroom 2 bath home is in the Shasta Glen mobile home park. It has a split floor plan. There is a carport and nice sized back yard as well.

ⓘ 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: $437 · $36/mo
• Projected year-2 tax: $922 · $77/mo
• Expected delta: +$484/yr (+$40/mo · 110.8%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥90°F today · 17 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: $17,947
• − Mortgage interest: −$5,321
• − Property taxes: −$437
• − Insurance: −$475
• − Repairs & maintenance: −$1,436
• − Management: −$1,436
• − Depreciation: −$2,764
• Taxable income: $6,078
• Est. tax owed @ 24.0%: −$1,459
• After-tax cash flow: $5,829/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

+280.0% since first listed

7 events — show timeline

• 2026-04-23 Price Changed $95,000 MLSCO
• 2026-01-20 Price Changed $100,000 MLSCO
• 2025-08-21 Price Changed $110,000 MLSCO
• 2025-07-28 Price Changed $115,000 MLSCO
• 2025-07-10 Listed $120,000 MLSCO
• 2017-03-16 Sold (MLS) $22,500 MLSCO
• 2017-01-26 Listed $25,000 MLSCO

Property tax history

+5.0%/yr

Latest (2025): $437 · +2.7% YoY. Source: county tax records.