9805 E Langell Valley Rd · Bonanza, OR 97623

$139,900

3 bd · 1.0 ba · 3,100 sqft · SingleFamily public records · 164 Days on market

Built 1900 0.74 ac lot

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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 +19.4/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• 1% rule +4.6/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Zoned Commercial transportation on nearly 3/4th of an acre this home is stated to have approximately 3100 sq ft according to county assessor. It has had a store, a bar and post office in it's history. Seller says it is county approved to have 8-10 RV or trailer hookups on it. It will need engineered approved plans with county for that to go through. Interior of building feels solid, but quirky and needs a lot of work. There are also 2 small out bldgs that are a part of property.

Key facts

• 2 small out bldgs
• Zoned commercial
• 0.74 acre lot

Tags

• ZONED COMMERCIAL
• 8-10 RV OR TRAILER HOOKUPS
• 2 SMALL OUT BLDGS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $157 ($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 $134k (4.4% below list).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#254 in OR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety C-, amenities F, commute 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: Bonanza Elementary School (math 15% / reading 15%, grade F, #392 of 412 statewide, top 96%, 233 students, 73% FRL); Bonanza Junior/Senior High School (math 17% / reading 37%, grade F, #115 of 143 statewide, top 82%, 221 students, 75% FRL) — zoned schools average 74% FRL vs 59% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 123 active listings in the ZIP; 232 units permitted in Klamath County in 2024 (72 in 5+ unit buildings).

Forward outlook

• In year one you build about $15k of equity ($967 loan paydown + $14k appreciation (10.0% local appreciation)).
• Klamath County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 164 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $60k; list at $140k implies a 133% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 164 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.96% ✗
• Cap rate: 7.64%
• Cash-on-cash: 4.82%
• DSCR: 1.21
• GRM: 8.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 27.8%
• Equity multiple: 3.20×
• Total profit: $86,192
• Equity at exit: $126,033

10-year hold

• IRR: 24.2%
• Equity multiple: 7.28×
• Total profit: $245,899
• Equity at exit: $271,795

Cash invested: $39,172 (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 97623

• Home prices YoY: 18.9%
• Active inventory: 123
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,337 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$107 /mo · $1,287/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $157

Break-even live

Break-even rent $1,138

Max offer price $139,900

Occupancy floor 83%

Sensitivity live

Price	-10% $237	-5% $197	+0% $157	+5% $118	+10% $78
Rent	-10% $52	-5% $104	+0% $157	+5% $210	+10% $263
Rate	-1.0pp $228	-0.5pp $193	base $157	+0.5pp $121	+1.0pp $84

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $139,900 Active 164 DOM
2. 2026-06-18
   days on market $139,900 Active 163 DOM
3. 2026-06-17
   days on market $139,900 Active 162 DOM
4. 2026-06-16
   days on market $139,900 Active 161 DOM
5. 2026-06-15
   days on market $139,900 Active 160 DOM
6. 2026-06-14
   days on market $139,900 Active 158 DOM
7. 2026-06-12
   days on market $139,900 Active 157 DOM
8. 2026-06-09
   days on market $139,900 Active 154 DOM
9. 2026-06-08
   days on market $139,900 Active 153 DOM
10. 2026-06-07
    days on market $139,900 Active 152 DOM
11. 2026-06-05
    days on market $139,900 Active 149 DOM
12. 2026-06-02
    days on market $139,900 Active 147 DOM
13. 2026-06-01
    days on market $139,900 Active 146 DOM
14. 2026-05-31
    days on market $139,900 Active 145 DOM
15. 2026-05-30
    days on market $139,900 Active 144 DOM
16. 2026-01-05
    listed $139,900 Active 484-char remark

    Show marketing remark (484 chars)

    Zoned Commercial transportation on nearly 3/4th of an acre this home is stated to have approximately 3100 sq ft according to county assessor. It has had a store, a bar and post office in it's history. Seller says it is county approved to have 8-10 RV or trailer hookups on it. It will need engineered approved plans with county for that to go through. Interior of building feels solid, but quirky and needs a lot of work. There are also 2 small out bldgs that are a part of property.

17. 2012-08-15
    soldstatus $60,000
18. 1980-02-19
    soldstatus $89,000

ⓘ 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: $1,287 · $107/mo
• Projected year-2 tax: $1,357 · $113/mo
• Expected delta: +$70/yr (+$6/mo · 5.4%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥90°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 23 unhealthy d/yr today · 25 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,048
• − Mortgage interest: −$7,837
• − Property taxes: −$1,287
• − Insurance: −$700
• − Repairs & maintenance: −$1,284
• − Management: −$1,284
• − Depreciation: −$4,070
• Taxable loss: −$412
• Est. tax savings @ 24.0%: +$99
• After-tax cash flow: $1,987/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 — Bonanza

• Score: 61/100
• State rank: #254
• US rank: #17323

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,954

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 12% Two or more races 8%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Serbian 6% Slovak 4% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 90% English-only · Spanish 10%

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: ▲ 69.97%
• Current HPI: 439.2417
• 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

+57.2% since first listed

3 events — show timeline

• 2026-01-05 Listed $139,900 MLSCO
• 2012-08-15 Sold (Public Records) $60,000 Public Records
• 1980-02-19 Sold (Public Records) $89,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $1,287 · +2.7% YoY. Source: county tax records.