1705 Etna St · Altamont, OR 97603

$120,000

3 bd · 1.5 ba · 864 sqft · Other public records · 37 Days on market

Built 1973 7,840 sqft lot $139/sqft · 63% above area

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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 +27.5/30.0
• DSCR +9.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Rent growth +3.5/5.0
• Livability +3.2/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Here is a unique property single wide, manufactured home on a commercial lot with lots of Room! Come check this one out.

Key facts

• 7,840 sq ft lot
• Built 1973
• Listed 36 days

Property features AI

Finance

• Other: Flood zone unknown; Road is paved with shared access; Zoning: GC
• Financial info: Property is rented
• HOA & community: No CCRs

Exterior

• Parking: Gravel parking
• Security: Carbon monoxide detector(s); Smoke detector(s); Audio and video surveillance
• Utilities: Public water; Public sewer; Public utilities
• Home design: Manufactured on land (double wide); One story; Built in 1973; No common walls; Audio and video surveillance on premises
• Construction: Composition roof; Pillar/post/pier foundation; Construction material: Unknown
• Exterior features: Fenced, level lot; Poultry coop; Shed(s)

Interior

• Kitchen: Cooktop; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Laminate flooring; Vinyl flooring
• Bathrooms: 1 full bath; 1 half bath (1.5 total)
• Heating & cooling: Natural gas heating; No cooling listed
• Interior features: Cooktop; Refrigerator; Water heater; Living room; Eating area
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath other listed at $120k.

Deal economics

• At list price, monthly cash flow is $353 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.8% 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 Falls City Schools (town): math 26% / reading 40% proficiency, ranked #36 of 58 in OR (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Mills Elementary School (math 15% / reading 15%, grade F, #392 of 412 statewide, top 96%, 312 students, 90% FRL); Ponderosa Middle School (math 27% / reading 41%, grade F, #71 of 128 statewide, top 56%, 565 students, 88% FRL); Klamath Union High School (math 15% / reading 64%, grade F, #69 of 143 statewide, top 54%, 645 students, 89% FRL) — zoned schools average 89% FRL vs 62% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.8%/yr); 263 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 45d 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 $830 of loan paydown is wiped out by about $4k 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 $34k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $116,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% 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. 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: 1.13% ✓
• Cap rate: 9.82%
• Cash-on-cash: 12.61%
• DSCR: 1.56
• GRM: 7.4

CMA / ARV

• ARV (median comp): $73,500
• List price: $120,000
• Delta: 63.27%
• Verdict: OVERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.8% rent growth · sell at horizon

5-year hold

• IRR: 3.1%
• Equity multiple: 1.12×
• Total profit: $4,094
• Equity at exit: $17,892

10-year hold

• IRR: 13.3%
• Equity multiple: 2.10×
• Total profit: $36,904
• Equity at exit: $10,375

Cash invested: $33,600 (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: 7.4×

Monthly cashflow live

• Estimated rent: $1,353 high
• Mortgage (P&I): −$629
• Tax from tax record: −$37 /mo · $442/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $353

Break-even live

Break-even rent $906

Max offer price $120,000

Occupancy floor 69%

Sensitivity live

Price	-10% $421	-5% $387	+0% $353	+5% $319	+10% $285
Rent	-10% $246	-5% $300	+0% $353	+5% $407	+10% $460
Rate	-1.0pp $414	-0.5pp $384	base $353	+0.5pp $322	+1.0pp $290

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1616 Dayton St Klamath Falls, OR	2.0	1.0	732	$1,400	$1.91	44d	1	0.30mi
1222 Summers Ln Unit 1222 Klamath Falls, OR	2.0	1.0	950	$1,450	$1.53	44d	1	0.36mi
4507 Cannon Ave Apt 52 Klamath Falls, OR	2.0	1.0	850	$1,000	$1.18	44d	1	0.63mi
4519 Cannon Ave Unit 22 Klamath Falls, OR	2.0	1.0	850	$1,000	$1.18	44d	1	0.65mi
4519 Cannon Ave Apt 2 Klamath Falls, OR	2.0	1.0	850	$1,050	$1.24	44d	1	0.65mi
1400 Arthur St Klamath Falls, OR	2.0	1.5	950	$1,275	$1.34	44d	3	0.69mi
3124 Sunset Ct Klamath Falls, OR	2.0	1.0	1091	$1,495	$1.37	44d	1	0.73mi
2160 Arthur St Unit 5 Klamath Falls, OR	2.0	1.0	740	$995	$1.34	44d	1	0.79mi
2124 Arthur St Unit 24 Klamath Falls, OR	2.0	1.0	600	$1,000	$1.67	44d	1	0.79mi
1331 Avalon St Apt 08 Klamath Falls, OR	2.0	1.0	775	$1,125	$1.45	44d	1	0.85mi
2425 White Ave Klamath Falls, OR	2.0	1.0	950	$1,250	$1.32	44d	1	1.21mi
3039 Kane St Klamath Falls, OR	3.0	2.0	988	$1,395	$1.41	44d	1	1.23mi

Listing history 17 events

1. 2026-06-19
   days on market $120,000 Active 37 DOM
2. 2026-06-18
   days on market $120,000 Active 36 DOM
3. 2026-06-17
   days on market $120,000 Active 35 DOM
4. 2026-06-16
   days on market $120,000 Active 34 DOM
5. 2026-06-15
   days on market $120,000 Active 33 DOM
6. 2026-06-14
   days on market $120,000 Active 31 DOM
7. 2026-06-12
   days on market $120,000 Active 30 DOM
8. 2026-06-09
   days on market $120,000 Active 27 DOM
9. 2026-06-08
   days on market $120,000 Active 26 DOM
10. 2026-06-07
    days on market $120,000 Active 25 DOM
11. 2026-06-05
    days on market $120,000 Active 22 DOM
12. 2026-06-03
    days on market $120,000 Active 21 DOM
13. 2026-06-02
    days on market $120,000 Active 20 DOM
14. 2026-06-01
    days on market $120,000 Active 19 DOM
15. 2026-05-31
    days on market $120,000 Active 18 DOM
16. 2026-05-30
    days on market $120,000 Active 17 DOM
17. 2026-05-13
    listed $120,000 Active 121-char remark

ⓘ 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: $442 · $37/mo
• Projected year-2 tax: $1,164 · $97/mo
• Expected delta: +$722/yr (+$60/mo · 163.4%)

ⓘ 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 6/10 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: $16,242
• − Mortgage interest: −$6,722
• − Property taxes: −$442
• − Insurance: −$600
• − Repairs & maintenance: −$1,299
• − Management: −$1,299
• − Depreciation: −$3,491
• Taxable income: $2,388
• Est. tax owed @ 24.0%: −$573
• After-tax cash flow: $3,664/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 Falls City Schools
• NCES district ID: 4107080
• Math proficiency: 26% ▼ -6.00%
• Reading proficiency: 40% ▼ -3.00%
• Median HH income: $34,329
• Composite: 27.14/100
• National rank: #7033
• State rank: #36 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

1 event — show timeline

• 2026-05-13 Listed $120,000 MLSCO

Property tax history

-4.9%/yr

Latest (2025): $442 · +1.8% YoY. Source: county tax records.