8080 S Minnehaha St · Rockaway Beach, OR 97136

$349,000

3 bd · 1.0 ba · 976 sqft · SingleFamily public records · 24 Days on market

Built 1916 3,484 sqft lot Est $482k · 28% under ↓ 1% since listing

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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 +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• 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

Charming Coastal Cottage just 3 blocks from the beach. This home has never been used as a short-term rental, but the owners have applied for a County STR Permit with Tillamook County, currently in 8th position on this short list. This 3-Bed, 1-Bath home offers 976 sq. ft of cozy functional living space filled with classic coastal town character. New upgrades include outside paint, new window in one bedroom, and insulation placed under the home and in the ceiling of the home. The inviting layout makes the most of every square foot, with a comfortable living area, efficient kitchen, and plentiful bedrooms ideal for full -time living or a vacation retreat. Enjoy the relaxed pace of coastal life with nearby beach access, scenic trails, and local shops and dining just a short distance away. Whether you're looking for a peaceful getaway or an affordable entry into coastal homeownership, this cottage offers charm, simplicity, and endless potential along the beautiful Oregon Coast!

Key facts

• Scenic trails
• County str permit
• Beach access

Tags

• 3 BLOCKS FROM THE BEACH
• COUNTY STR PERMIT
• BEACH ACCESS
• SCENIC TRAILS
• LOCAL SHOPS AND DINING

Property features AI

Finance

• Other: Lot in 3,000 to 4,999 sq ft range (approx. 0.08 acres); Parcel number 71656
• HOA & community: Not a senior community; Zoning: RK-R3

Exterior

• Parking: Off-street parking
• Utilities: Electric fuel; Public water; Public sewer; Cable internet
• Home design: Single-family residence; Residential property; One-level/main-level living; Built in 1916; Trio building area description; Not attached to another unit
• Construction: Composition roof; Cedar and shake siding; Block and pier/pillar foundation
• Exterior features: Covered patio; Deck; Tool shed; Yard; Gentle sloping and level areas with trees; Dirt and gravel road access; Mountain view

Interior

• Kitchen: Dishwasher; Free-standing range; Free-standing refrigerator
• Bedrooms: Primary bedroom on main level; 2nd bedroom on main level; 3rd bedroom on main level
• Flooring: Vinyl; Wall-to-wall carpet
• Bathrooms: One full bathroom on main level
• Heating & cooling: Baseboard heating; Other heating; No central air conditioning
• Interior features: Accessible (ground level, one level); Vinyl flooring; Wall-to-wall carpet; Washer/Dryer (in unit); Electric fireplace (1)
• Laundry & utility: Washer and dryer included; Electric water heating

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $349k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $349k).
• Recommended offer: $344k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.9% vs local median 6.7% 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 $98k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($344k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $26k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $343,765 (1.5% below list)

Questions for the listing agent

1. Built in 1916 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.34% ✓
• Cap rate: 11.93%
• Cash-on-cash: 20.14%
• DSCR: 1.90
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $482,144
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8455 S Victoria Ave	0.16mi	2/1.0 (-1)	984 (+1%)	9mo	$395,000	$401	78
972 S Breaker Ave	0.21mi	2/2.0 (-1)	972 (-0%)	23mo	$480,000	$494	61
7936 Marigold St	0.14mi	2/1.0 (-1)	836 (-14%)	9mo	$530,100	$634	57

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: 12.3%
• Equity multiple: 1.49×
• Total profit: $47,749
• Equity at exit: $52,037

10-year hold

• IRR: 21.2%
• Equity multiple: 2.80×
• Total profit: $175,488
• Equity at exit: $30,175

Cash invested: $97,720 (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: 6.2×

Monthly cashflow live

• Estimated rent: $4,688 medium
• Mortgage (P&I): −$1,830
• Tax from tax record: −$88 /mo · $1,061/yr
• Insurance: −$145
• HOA: −$0
• Vacancy / Maint / Mgmt: −$985
• Net cashflow: $1,640

Break-even live

Break-even rent $2,613

Max offer price $349,000

Occupancy floor 60%

Sensitivity live

Price	-10% $1,837	-5% $1,739	+0% $1,640	+5% $1,541	+10% $1,442
Rent	-10% $1,269	-5% $1,455	+0% $1,640	+5% $1,825	+10% $2,010
Rate	-1.0pp $1,816	-0.5pp $1,729	base $1,640	+0.5pp $1,549	+1.0pp $1,457

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: $87,250
• Closing costs: $10,470
• 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	44d	1	1.12mi
406 N 3rd Ave Rockaway Beach, OR	2.0	1.0	762	$3,000	$3.94	44d	1	1.18mi

Listing history 19 events

1. 2026-06-21
   days on market $349,000 Active 24 DOM
2. 2026-06-18
   days on market $349,000 Active 22 DOM
3. 2026-06-17
   pricedays on market $349,000 Active 21 DOM
4. 2026-06-16
   days on market $375,000 Active 20 DOM
5. 2026-06-15
   days on market $375,000 Active 19 DOM
6. 2026-06-13
   days on market $375,000 Active 17 DOM
7. 2026-06-12
   days on market $375,000 Active 16 DOM
8. 2026-06-09
   days on market $375,000 Active 13 DOM
9. 2026-06-08
   days on market $375,000 Active 12 DOM
10. 2026-06-08
    days on market $375,000 Active 11 DOM
11. 2026-06-07
    days on market $375,000 Active 10 DOM
12. 2026-06-04
    days on market $375,000 Active 7 DOM
13. 2026-06-02
    days on market $375,000 Active 6 DOM
14. 2026-06-01
    days on market $375,000 Active 5 DOM
15. 2026-05-31
    days on market $375,000 Active 4 DOM
16. 2026-05-27
    price $375,000 988-char remark

    Show marketing remark (988 chars)

    Charming Coastal Cottage just 3 blocks from the beach. This home has never been used as a short-term rental, but the owners have applied for a County STR Permit with Tillamook County, currently in 8th position on this short list. This 3-Bed, 1-Bath home offers 976 sq. ft of cozy functional living space filled with classic coastal town character. New upgrades include outside paint, new window in one bedroom, and insulation placed under the home and in the ceiling of the home. The inviting layout makes the most of every square foot, with a comfortable living area, efficient kitchen, and plentiful bedrooms ideal for full -time living or a vacation retreat. Enjoy the relaxed pace of coastal life with nearby beach access, scenic trails, and local shops and dining just a short distance away. Whether you're looking for a peaceful getaway or an affordable entry into coastal homeownership, this cottage offers charm, simplicity, and endless potential along the beautiful Oregon Coast!

17. 2026-05-27
    listed $379,000 Active 988-char remark

    Show marketing remark (988 chars)

    Charming Coastal Cottage just 3 blocks from the beach. This home has never been used as a short-term rental, but the owners have applied for a County STR Permit with Tillamook County, currently in 8th position on this short list. This 3-Bed, 1-Bath home offers 976 sq. ft of cozy functional living space filled with classic coastal town character. New upgrades include outside paint, new window in one bedroom, and insulation placed under the home and in the ceiling of the home. The inviting layout makes the most of every square foot, with a comfortable living area, efficient kitchen, and plentiful bedrooms ideal for full -time living or a vacation retreat. Enjoy the relaxed pace of coastal life with nearby beach access, scenic trails, and local shops and dining just a short distance away. Whether you're looking for a peaceful getaway or an affordable entry into coastal homeownership, this cottage offers charm, simplicity, and endless potential along the beautiful Oregon Coast!

18. 2026-05-27
    listed $375,000 Active

    Show marketing remark (988 chars)

    Charming Coastal Cottage just 3 blocks from the beach. This home has never been used as a short-term rental, but the owners have applied for a County STR Permit with Tillamook County, currently in 8th position on this short list. This 3-Bed, 1-Bath home offers 976 sq. ft of cozy functional living space filled with classic coastal town character. New upgrades include outside paint, new window in one bedroom, and insulation placed under the home and in the ceiling of the home. The inviting layout makes the most of every square foot, with a comfortable living area, efficient kitchen, and plentiful bedrooms ideal for full -time living or a vacation retreat. Enjoy the relaxed pace of coastal life with nearby beach access, scenic trails, and local shops and dining just a short distance away. Whether you're looking for a peaceful getaway or an affordable entry into coastal homeownership, this cottage offers charm, simplicity, and endless potential along the beautiful Oregon Coast!

19. 2026-02-28
    listed $379,000 Active

ⓘ 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: $1,061 · $88/mo
• Projected year-2 tax: $3,385 · $282/mo
• Expected delta: +$2,325/yr (+$194/mo · 219.2%)

ⓘ 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 1/10 Low
• 🌡 Heat 1/10 Low 10 d/yr ≥76°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: $56,261
• − Mortgage interest: −$19,549
• − Property taxes: −$1,061
• − Insurance: −$1,745
• − Repairs & maintenance: −$4,501
• − Management: −$4,501
• − Depreciation: −$10,153
• Taxable income: $14,752
• Est. tax owed @ 24.0%: −$3,540
• After-tax cash flow: $16,138/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

• 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

-1.1% since first listed

4 events — show timeline

• 2026-05-27 Price Changed $375,000 OCMLS
• 2026-05-27 Listed $375,000 RMLS
• 2026-05-27 Listed $379,000 OCMLS
• 2026-02-28 Listed $379,000 OCMLS

Property tax history

+2.9%/yr

Latest (2025): $1,061 · +8.8% YoY. Source: county tax records.