Real Estate Investing in Sprague River, Oregon (97621)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 97621 (Sprague River, OR)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- High vacancy: 32.7% of homes vacant — above national norms.
- 1-year downturn: Values declined 3.9% in the last year.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Sprague River, OR (97621)?
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Market Analysis: 97621 Sprague River
Not every below-median market is a bargain. Sprague River's 97621 ZIP sits at signals that favor experienced operators who can absorb the risk $278K pricing implies.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $278K asset, 97621 is the wrong submarket. If the plan prices in friction, the yield can still work.
Looking more closely, 97621 offers a low basis, the region around Sprague River has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
The demographic picture in 97621 includes headwinds that any investor should price in. Income distribution skews lower than Sprague River averages, and tenant stability requires active management.
New investors are better served looking at Sprague River's stable or hybrid ZIPs before stepping into 97621. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Sprague River:
Market Trends
Home Value History (with trend line)
📊 How Does 97621 Compare?
| Metric | 97621 | Sprague River | Klamath Falls, OR | Oregon |
|---|---|---|---|---|
| Home Value | $277,728 | $277,728 | N/A | $493,884 |
| 5-Year CAGR | N/A | N/A | N/A | 4.9% |
| Avg Rent | $1,125 | $1,125 | N/A | - |
| Cap Rate | 3.2% | 3.2% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 97621 (Sprague River, OR). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $277,728 |
| Monthly Rent | $1,125 |
| Price-to-Rent | 20.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.9% |
| Cap Rate | 3.2% |
| 5-Year IRR | 3.0% |
📈 Home Appreciation
| 1-Year | -3.9% ▼ |
| 3-Year CAGR | -0.2% ▼ |
| 5-Year CAGR | N/A |
| 10-Year CAGR | N/A |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.2%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 97621
Population: 268
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
Frequently Asked Questions
What kind of market is Sprague River, OR for investors?
Investors tracking Sprague River, OR will find a 2.0/5 rating supported by $278K median home values and $1,125/mo rents. That profile suits long-term holders targeting reliable returns.
Is the tenant base reliable in Sprague River, OR?
The renter base in Sprague River, OR is reasonable for the $1,125/mo price point. Screening well and pricing to market typically yields stable tenants.
How strong are rents in Sprague River, OR?
The typical rental in Sprague River, OR commands about $1,125/mo monthly. That rent profile measured cash flow against the $278K purchase basis.
What investment strategy works best in Sprague River, OR?
In Sprague River, OR the notable play is typically careful cash-flow rentals with hands-on management. The combination of $278K prices and $1,125/mo rents suits that approach.
How high is vacancy risk in Sprague River, OR?
Sprague River, OR carries elevated vacancy risk. Expect measured absorption at market rents of $1,125/mo.
You know 97621 now. You don’t know where it ranks.
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How 97621 ranks in Klamath Falls, OR
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