4665 W Silversands St · Netarts, OR 97141

$169,000

1 bd · 1.0 ba · 1,257 sqft · Manufactured public records · 49 Days on market

Built 1960 4,791 sqft lot $134/sqft · 47% below area Est $322k · 47% under

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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 +17.3/30.0
• ARV discount +15.0/15.0
• DSCR +5.4/10.0
• 1% rule +4.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Renovation opportunity in the heart of Netarts! Located in a popular local neighborhood just minutes from the Netarts Boat Basin, Happy Camp Beach and Netarts Community Park. This manufactured home with stick-built addition offers 2 bedrooms and 1 bath with a surprisingly spacious interior, ready for updates or simply use as-is. A large utility room and detached workspace/shed add functionality. Beautiful, established landscaping installed by a dedicated gardener. Strong location with upside potential and thoughtful redesign. Bring your ideas and make it your own! Cash sale only. Property is not likely financeable.

Key facts

• Detached workspace
• Strong location
• 4,791 sq ft lot

Tags

• RENOVATION OPPORTUNITY
• DETACHED WORKSPACE
• ESTABLISHED LANDSCAPING
• STRONG LOCATION

Property features AI

Finance

• Other: Property is residential; main level area reported as 1,257; Lot in the 3,000–4,999 sq ft range (approx. 0.11 acres)
• HOA & community: Not a senior community; Zoned NT-RMD

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; Electric power and electric hot water
• Home design: Manufactured home on real property; Single-story (main level living); Resale condition; No notable view
• Construction: Built in 1960; Pillar/post/pier foundation; Composition and flat roof
• Exterior features: Covered arena; Garden; T-111 siding; Concrete road access

Interior

• Kitchen: Built-in oven; Dishwasher; Free-standing refrigerator
• Bedrooms: Primary bedroom on main level; Second bedroom on main level
• Flooring: Vinyl flooring
• Bathrooms: One full bathroom on main level
• Heating & cooling: Wood stove heating; No central air
• Interior features: Vinyl flooring; Washer and dryer included; Wood-burning fireplace; Vinyl window frames; Accessible features (ground level; main-floor bedroom with bath)
• Laundry & utility: Washer and dryer included; Electric hot water

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $169k.

Deal economics

• At list price, monthly cash flow is $125 ($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 $158k (6.6% below list).
• Recommended offer: $158k (6.6% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 1.8% in Netarts — 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 63/100 on livability (#235 in OR) — a middle-class / working-renter tenant base. Watch: crime C-, cost of living C-, health & safety D+.
• Tillamook SD 9 (town): math 21% / reading 39% proficiency, ranked #44 of 58 in OR (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Liberty Elementary School (276 students, 77% FRL); Tillamook Junior High School (math 20% / reading 42%, grade F, #83 of 128 statewide, top 65%, 344 students, 69% FRL); Tillamook High School (math 15% / reading 47%, grade F, #106 of 143 statewide, top 74%, 723 students, 34% FRL).
• Market conditions: 161 active listings in the ZIP; 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $157,862 (6.6% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — 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. 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.
5. 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.
6. 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: 0.93% ✗
• Cap rate: 7.18%
• Cash-on-cash: 3.17%
• DSCR: 1.14
• GRM: 8.9

CMA / ARV

• ARV (median comp): $321,835
• List price: $169,000
• Delta: -47.49%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2065 Bilyeu Ave	0.35mi	2/2.0 (+1)	1,215 (-3%)	15mo	$133,000	$109	56
2065 Bilyeu Ave	0.35mi	2/2.0 (+1)	1,400 (+11%)	9mo	$330,000	$236	48
2270 Martin Ave W	0.56mi	2/2.0 (+1)	1,337 (+6%)	20mo	$373,277	$279	38

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -11.3%
• Equity multiple: 0.59×
• Total profit: $-19,418
• Equity at exit: $25,198

10-year hold

• IRR: -2.1%
• Equity multiple: 0.86×
• Total profit: $-6,661
• Equity at exit: $14,612

Cash invested: $47,320 (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 97141

• Active inventory: 161
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,579 medium
• Mortgage (P&I): −$886
• Tax from tax record: −$165 /mo · $1,983/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $125

Break-even live

Break-even rent $1,420

Max offer price $169,000

Occupancy floor 87%

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $169,000 Active 49 DOM
2. 2026-06-17
   days on market $169,000 Active 48 DOM
3. 2026-06-16
   days on market $169,000 Active 47 DOM
4. 2026-06-15
   days on market $169,000 Active 46 DOM
5. 2026-06-13
   days on market $169,000 Active 44 DOM
6. 2026-06-12
   days on market $169,000 Active 43 DOM
7. 2026-06-09
   days on market $169,000 Active 40 DOM
8. 2026-06-08
   days on market $169,000 Active 39 DOM
9. 2026-06-08
   days on market $169,000 Active 38 DOM
10. 2026-06-07
    days on market $169,000 Active 37 DOM
11. 2026-06-04
    days on market $169,000 Active 34 DOM
12. 2026-06-02
    days on market $169,000 Active 33 DOM
13. 2026-06-01
    days on market $169,000 Active 32 DOM
14. 2026-05-31
    days on market $169,000 Active 31 DOM
15. 2026-05-09
    status Active 598-char remark

    Show marketing remark (622 chars)

    Renovation opportunity in the heart of Netarts! Located in a popular local neighborhood just minutes from the Netarts Boat Basin, Happy Camp Beach and Netarts Community Park. This manufactured home with stick-built addition offers 2 bedrooms and 1 bath with a surprisingly spacious interior, ready for updates or simply use as-is. A large utility room and detached workspace/shed add functionality. Beautiful, established landscaping installed by a dedicated gardener. Strong location with upside potential and thoughtful redesign. Bring your ideas and make it your own! Cash sale only. Property is not likely financeable.

16. 2026-05-09
    status Active 622-char remark

    Show marketing remark (622 chars)

    Renovation opportunity in the heart of Netarts! Located in a popular local neighborhood just minutes from the Netarts Boat Basin, Happy Camp Beach and Netarts Community Park. This manufactured home with stick-built addition offers 2 bedrooms and 1 bath with a surprisingly spacious interior, ready for updates or simply use as-is. A large utility room and detached workspace/shed add functionality. Beautiful, established landscaping installed by a dedicated gardener. Strong location with upside potential and thoughtful redesign. Bring your ideas and make it your own! Cash sale only. Property is not likely financeable.

17. 2026-05-06
    status Pending 622-char remark

    Show marketing remark (622 chars)

    Renovation opportunity in the heart of Netarts! Located in a popular local neighborhood just minutes from the Netarts Boat Basin, Happy Camp Beach and Netarts Community Park. This manufactured home with stick-built addition offers 2 bedrooms and 1 bath with a surprisingly spacious interior, ready for updates or simply use as-is. A large utility room and detached workspace/shed add functionality. Beautiful, established landscaping installed by a dedicated gardener. Strong location with upside potential and thoughtful redesign. Bring your ideas and make it your own! Cash sale only. Property is not likely financeable.

18. 2026-05-06
    status Pending 598-char remark

    Show marketing remark (622 chars)

    Renovation opportunity in the heart of Netarts! Located in a popular local neighborhood just minutes from the Netarts Boat Basin, Happy Camp Beach and Netarts Community Park. This manufactured home with stick-built addition offers 2 bedrooms and 1 bath with a surprisingly spacious interior, ready for updates or simply use as-is. A large utility room and detached workspace/shed add functionality. Beautiful, established landscaping installed by a dedicated gardener. Strong location with upside potential and thoughtful redesign. Bring your ideas and make it your own! Cash sale only. Property is not likely financeable.

19. 2026-04-20
    listed $169,000 Active 598-char remark

    Show marketing remark (622 chars)

    Renovation opportunity in the heart of Netarts! Located in a popular local neighborhood just minutes from the Netarts Boat Basin, Happy Camp Beach and Netarts Community Park. This manufactured home with stick-built addition offers 2 bedrooms and 1 bath with a surprisingly spacious interior, ready for updates or simply use as-is. A large utility room and detached workspace/shed add functionality. Beautiful, established landscaping installed by a dedicated gardener. Strong location with upside potential and thoughtful redesign. Bring your ideas and make it your own! Cash sale only. Property is not likely financeable.

20. 2026-04-20
    listed $169,000 Active 622-char remark

    Show marketing remark (622 chars)

    Renovation opportunity in the heart of Netarts! Located in a popular local neighborhood just minutes from the Netarts Boat Basin, Happy Camp Beach and Netarts Community Park. This manufactured home with stick-built addition offers 2 bedrooms and 1 bath with a surprisingly spacious interior, ready for updates or simply use as-is. A large utility room and detached workspace/shed add functionality. Beautiful, established landscaping installed by a dedicated gardener. Strong location with upside potential and thoughtful redesign. Bring your ideas and make it your own! Cash sale only. Property is not likely financeable.

ⓘ 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: $1,983 · $165/mo
• Projected year-2 tax: $1,983 · $165/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 1/10 Low 8 d/yr ≥74°F today · 21 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: $18,943
• − Mortgage interest: −$9,467
• − Property taxes: −$1,983
• − Insurance: −$845
• − Repairs & maintenance: −$1,515
• − Management: −$1,515
• − Depreciation: −$4,916
• Taxable loss: −$1,299
• Est. tax savings @ 24.0%: +$312
• After-tax cash flow: $1,814/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: Tillamook SD 9
• NCES district ID: 4112320
• Math proficiency: 21% ▼ -14.00%
• Reading proficiency: 39% ▼ -11.00%
• Median HH income: $42,989
• Composite: 25.47/100
• National rank: #7446
• State rank: #44 of 58 in OR

Livability — Netarts

• Score: 63/100
• State rank: #235
• US rank: #16000

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Netarts, OR
• Population (ZIP): 12,734

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 15% Two or more races 9% Native American 1% Black 1%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Portuguese 4% Lithuanian 3% Italian 2%
• Foreign-born: 6% · Canada
• Languages at home: 89% English-only · Spanish 10% Other Asian/Pacific 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: ▼ -185.35%
• Current HPI: 214.2308
• 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

+0.0% since first listed

6 events — show timeline

• 2026-05-09 Relisted — RMLS
• 2026-05-09 Relisted — OCMLS
• 2026-05-06 Pending — OCMLS
• 2026-05-06 Pending — RMLS
• 2026-04-20 Listed $169,000 OCMLS
• 2026-04-20 Listed $169,000 RMLS

Property tax history

+4.3%/yr

Latest (2025): $1,983 · +4.6% YoY. Source: county tax records.