552 Highway 101 · Rockaway Beach, OR 97136

$340,000

2 bd · 1.0 ba · 1,026 sqft · Other public records · 64 Days on market

Built 1927 5,662 sqft lot $331/sqft · 16% below area Est $406k · 16% under

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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
• ARV discount +14.8/15.0
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• Schools +4.2/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This cabin is located less than 1/2 block to 7 miles of white secluded sandy beach! Enjoy the beautiful blue OCEAN VIEWS from upstairs! Property sits on a large lot with ample parking and room for an RV or boat. Just blocks from the beach, restaurants, shopping, and more. A rare opportunity to own in a prime coastal location—come take a look!

Key facts

• Ample parking
• Large lot
• Room for an rv

Tags

• LARGE LOT
• AMPLE PARKING
• ROOM FOR AN RV
• PRIME COASTAL LOCATION

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $340k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $340k).
• Recommended offer: $320k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.5% vs local median 6.6% in Rockaway Beach — 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 74/100 on livability (#94 in OR, #4,777 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living A-; Watch: health & safety C-, employment D, amenities F.
• Neah-Kah-Nie SD 56 (rural): math 39% / reading 55% proficiency, ranked #62 of 183 in OR (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Garibaldi Elementary School (math 24% / reading 30%, grade F, #288 of 412 statewide, top 73%, 120 students, 52% FRL); Neah-Kah-Nie Middle School (math 24% / reading 57%, grade F, #41 of 128 statewide, top 32%, 177 students, 44% FRL); Neah-Kah-Nie High School (math 24% / reading 75%, grade D+, #32 of 143 statewide, top 34%, 280 students, 35% FRL).
• Market conditions: 130 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 86 units permitted in Tillamook County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Tillamook County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $95k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($320k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts; this cycle's ask has dropped $19k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $281k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1927 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $319,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.41% ✓
• Cap rate: 12.49%
• Cash-on-cash: 22.13%
• DSCR: 1.98
• GRM: 5.9

CMA / ARV

• ARV (median comp): $406,256
• List price: $340,000
• Delta: -16.31%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 8.0%
• Equity multiple: 1.31×
• Total profit: $29,696
• Equity at exit: $50,695

10-year hold

• IRR: 17.2%
• Equity multiple: 2.42×
• Total profit: $135,405
• Equity at exit: $29,397

Cash invested: $95,200 (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 97136

• Home prices YoY: -34.6%
• Active inventory: 130
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $4,780 medium
• Mortgage (P&I): −$1,783
• Tax from tax record: −$95 /mo · $1,145/yr
• Insurance: −$142
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,004
• Net cashflow: $1,329

Break-even live

Break-even rent $3,097

Max offer price $340,000

Occupancy floor 67%

Sensitivity live

Price	-10% $1,522	-5% $1,425	+0% $1,329	+5% $1,233	+10% $1,137
Rent	-10% $952	-5% $1,140	+0% $1,329	+5% $1,518	+10% $1,707
Rate	-1.0pp $1,500	-0.5pp $1,416	base $1,329	+0.5pp $1,241	+1.0pp $1,151

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: $85,000
• Closing costs: $10,200
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
145 N Dolphin St Rockaway Beach, OR	2.0	2.0	1020	$6,000	$5.88	45d	1	0.65mi
406 N 3rd Ave Rockaway Beach, OR	2.0	1.0	762	$3,000	$3.94	45d	1	0.71mi

Listing history 23 events

1. 2026-06-03
   status $340,000 Pending 64 DOM
2. 2026-06-02
   days on market $340,000 Active 64 DOM
3. 2026-06-01
   days on market $340,000 Active 63 DOM
4. 2026-05-31
   days on market $340,000 Active 62 DOM
5. 2026-04-14
   price $340,000 350-char remark

   Show marketing remark (351 chars)

   This cabin is located less than 1/2 block to 7 miles of white secluded sandy beach! Enjoy the beautiful blue OCEAN VIEWS from upstairs! Property sits on a large lot with ample parking and room for an RV or boat. Just blocks from the beach, restaurants, shopping, and more. A rare opportunity to own in a prime coastal location—come take a look!

6. 2026-04-14
   price $340,000 351-char remark

   Show marketing remark (351 chars)

   This cabin is located less than 1/2 block to 7 miles of white secluded sandy beach! Enjoy the beautiful blue OCEAN VIEWS from upstairs! Property sits on a large lot with ample parking and room for an RV or boat. Just blocks from the beach, restaurants, shopping, and more. A rare opportunity to own in a prime coastal location—come take a look!

7. 2026-03-30
   listed $359,000 Active 350-char remark

   Show marketing remark (351 chars)

   This cabin is located less than 1/2 block to 7 miles of white secluded sandy beach! Enjoy the beautiful blue OCEAN VIEWS from upstairs! Property sits on a large lot with ample parking and room for an RV or boat. Just blocks from the beach, restaurants, shopping, and more. A rare opportunity to own in a prime coastal location—come take a look!

8. 2026-03-30
   listed $359,000 Active 351-char remark

   Show marketing remark (351 chars)

   This cabin is located less than 1/2 block to 7 miles of white secluded sandy beach! Enjoy the beautiful blue OCEAN VIEWS from upstairs! Property sits on a large lot with ample parking and room for an RV or boat. Just blocks from the beach, restaurants, shopping, and more. A rare opportunity to own in a prime coastal location—come take a look!

9. 2025-12-12
   price $299,000
10. 2025-10-14
    status Active
11. 2025-09-09
    price $559,000
12. 2025-09-02
    soldstatus $281,000 Closed
13. 2025-09-02
    soldstatus $281,000 Closed
14. 2025-09-02
    soldstatus $281,000
15. 2025-07-09
    status Pending
16. 2025-07-06
    status Active
17. 2025-07-06
    price $569,000
18. 2025-07-04
    listed $299,000 Active
19. 2025-05-10
    price $589,000
20. 2025-04-25
    price $592,000
21. 2025-04-09
    price $597,000
22. 2025-03-02
    listed $599,000 Active
23. 2002-01-09
    soldstatus $50,000

ⓘ 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: $1,145 · $95/mo
• Projected year-2 tax: $3,298 · $275/mo
• Expected delta: +$2,153/yr (+$179/mo · 188.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 9 d/yr ≥76°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 8 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $57,354
• − Mortgage interest: −$19,045
• − Property taxes: −$1,145
• − Insurance: −$6,818
• − Repairs & maintenance: −$4,588
• − Management: −$4,588
• − Depreciation: −$9,891
• Taxable income: $11,278
• Est. tax owed @ 24.0%: −$2,707
• After-tax cash flow: $13,244/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: Neah-Kah-Nie SD 56
• NCES district ID: 4108650
• Math proficiency: 39% ▼ -4.00%
• Reading proficiency: 55% ▼ -4.00%
• Median HH income: $42,437
• Composite: 41.68/100
• National rank: #7205
• State rank: #62 of 183 in OR

Livability — Rockaway Beach

• Score: 74/100
• State rank: #94
• US rank: #4777

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rockaway Beach, OR
• Population (ZIP): 2,422

Population outlook (Tillamook County) Hauer SSP2

• Today (2025): 26,318 people
• By 2030: 26,603 · +1.1%
• By 2040: 26,898 · +2.2%
• By 2050: 27,129 · +3.1%
• By 2075: 27,858 · +5.9%
• By 2100: 26,212 · -0.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 2% Two or more races 2% Asian 1%
• Common ancestry: Slovak 4% Iranian 4% Portuguese 3%
• Foreign-born: 2% · Canada
• Languages at home: 93% English-only · Spanish 4% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Tillamook

• 2024 margin: Toss-up / Even · D 47.9% · R 49.2% · Other 2.9%
• 2008→2024 swing: -11.2pp toward R · 2008: 9.9pp · 2024: -1.4pp
• All cycles: 2024: R+1.4 2020: R+1.7 2016: R+5.9 2012: D+4.7 2008: D+9.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -121.02%
• Current HPI: 228.3227
• 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

+580.0% since first listed

19 events — show timeline

• 2026-04-14 Price Changed $340,000 RMLS
• 2026-04-14 Price Changed $340,000 OCMLS
• 2026-03-30 Listed $359,000 OCMLS
• 2026-03-30 Listed $359,000 RMLS
• 2025-12-12 Price Changed $299,000 OCMLS
• 2025-10-14 Relisted — OCMLS
• 2025-09-09 Price Changed $559,000 OCMLS
• 2025-09-02 Sold (Public Records) $281,000 Public Records
• 2025-09-02 Sold (MLS) $281,000 RMLS
• 2025-09-02 Sold (MLS) $281,000 OCMLS
• 2025-07-09 Pending — RMLS
• 2025-07-06 Relisted — OCMLS
• 2025-07-06 Price Changed $569,000 OCMLS
• 2025-07-04 Listed $299,000 RMLS
• 2025-05-10 Price Changed $589,000 OCMLS
• 2025-04-25 Price Changed $592,000 OCMLS
• 2025-04-09 Price Changed $597,000 OCMLS
• 2025-03-02 Listed $599,000 OCMLS
• 2002-01-09 Sold (Public Records) $50,000 Public Records

Property tax history

+2.9%/yr

Latest (2025): $1,145 · +8.6% YoY. Source: county tax records.