300 N Pacific St #37 · Rockaway Beach, OR 97136

$435,000

2 bd · 2.0 ba · 1,065 sqft · Condo public records · 95 Days on market

Built 2006 $408/sqft · at area comps Est $444k · at est. $345/mo HOA · 7% of rent

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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 +22.4/30.0
• ARV discount +8.4/15.0
• DSCR +7.2/10.0
• 1% rule +6.0/10.0
• 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

Enjoy coastal living and investment potential in this well-maintained Rockaway Beach condo with a transferable Short-Term Rental (STR) license at closing. Located just steps from the beach, this 2-bedroom, 2-bathroom getaway offers easy access to miles of sand and surf. Inside, the bright open layout features large windows that bring in abundant natural light and a glimpse of the ocean. The kitchen is equipped with granite counters, slate floors and stainless steel appliances. Comfortable bedrooms provide a relaxing retreat, while the living room sofa-sleeper offers additional space for guests. The unit also includes two covered under-building parking spaces and is just one block from Rockaway Beach's downtown shops, restaurants, and local attractions. Offered furnished and ready to enjoy as a personal retreat, full-time residence, or vacation rental opportunity.

Key facts

• Large windows
• Bright open layout
• Slate floors

Tags

• STEPS FROM THE BEACH
• BRIGHT OPEN LAYOUT
• LARGE WINDOWS
• ABUNDANT NATURAL LIGHT
• GRANITE COUNTERS
• SLATE FLOORS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $435k.

Deal economics

• At list price, monthly cash flow is $722 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $435k).
• Recommended offer: $396k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 6.6% in Rockaway Beach — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• Market conditions: 126 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 $3k of loan paydown is wiped out by about $13k 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 95 days — a 9% lower offer ($396k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 17y ago 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 $395,850 (9.0% below list)

Questions for the listing agent

1. It's been on market 95 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.10% ✓
• Cap rate: 8.29%
• Cash-on-cash: 7.12%
• DSCR: 1.32
• GRM: 7.6

CMA / ARV

• ARV (median comp): $443,985
• List price: $435,000
• Delta: -2.02%
• Verdict: FAIR
• Comps: 19 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -5.4%
• Equity multiple: 0.80×
• Total profit: $-24,389
• Equity at exit: $64,860

10-year hold

• IRR: 4.3%
• Equity multiple: 1.32×
• Total profit: $38,388
• Equity at exit: $37,611

Cash invested: $121,800 (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: 126
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $4,768 medium
• Mortgage (P&I): −$2,281
• Tax from tax record: −$237 /mo · $2,845/yr
• Insurance: −$181
• HOA: −$345
• Vacancy / Maint / Mgmt: −$1,001
• Net cashflow: $722

Break-even live

Break-even rent $3,854

Max offer price $435,000

Occupancy floor 80%

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: $108,750
• Closing costs: $13,050
• 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	43d	1	0.19mi
406 N 3rd Ave Rockaway Beach, OR	2.0	1.0	762	$3,000	$3.94	43d	1	0.20mi

HOA detail condo

• Monthly dues: $345 · $4,140/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 43 events

1. 2026-06-16
   status $435,000 Pending 95 DOM
2. 2026-06-15
   days on market $435,000 Active 95 DOM
3. 2026-06-13
   days on market $435,000 Active 93 DOM
4. 2026-06-12
   days on market $435,000 Active 92 DOM
5. 2026-06-09
   days on market $435,000 Active 89 DOM
6. 2026-06-08
   days on market $435,000 Active 88 DOM
7. 2026-06-08
   days on market $435,000 Active 87 DOM
8. 2026-06-07
   days on market $435,000 Active 86 DOM
9. 2026-06-04
   days on market $435,000 Active 83 DOM
10. 2026-06-02
    days on market $435,000 Active 82 DOM
11. 2026-06-01
    days on market $435,000 Active 81 DOM
12. 2026-05-31
    days on market $435,000 Active 80 DOM
13. 2026-05-13
    price $435,000 875-char remark

    Show marketing remark (881 chars)

    Enjoy coastal living and investment potential in this well-maintained Rockaway Beach condo with a transferable Short-Term Rental (STR) license at closing. Located just steps from the beach, this 2-bedroom, 2-bathroom getaway offers easy access to miles of sand and surf. Inside, the bright open layout features large windows that bring in abundant natural light and a glimpse of the ocean. The kitchen is equipped with granite counters, slate floors and stainless steel appliances. Comfortable bedrooms provide a relaxing retreat, while the living room sofa-sleeper offers additional space for guests. The unit also includes two covered under-building parking spaces and is just one block from Rockaway Beach’s downtown shops, restaurants, and local attractions. Offered furnished and ready to enjoy as a personal retreat, full-time residence, or vacation rental opportunity.

14. 2026-05-13
    price $435,000 881-char remark

    Show marketing remark (881 chars)

    Enjoy coastal living and investment potential in this well-maintained Rockaway Beach condo with a transferable Short-Term Rental (STR) license at closing. Located just steps from the beach, this 2-bedroom, 2-bathroom getaway offers easy access to miles of sand and surf. Inside, the bright open layout features large windows that bring in abundant natural light and a glimpse of the ocean. The kitchen is equipped with granite counters, slate floors and stainless steel appliances. Comfortable bedrooms provide a relaxing retreat, while the living room sofa-sleeper offers additional space for guests. The unit also includes two covered under-building parking spaces and is just one block from Rockaway Beach’s downtown shops, restaurants, and local attractions. Offered furnished and ready to enjoy as a personal retreat, full-time residence, or vacation rental opportunity.

15. 2026-03-12
    listed $445,000 Active 875-char remark

    Show marketing remark (881 chars)

    Enjoy coastal living and investment potential in this well-maintained Rockaway Beach condo with a transferable Short-Term Rental (STR) license at closing. Located just steps from the beach, this 2-bedroom, 2-bathroom getaway offers easy access to miles of sand and surf. Inside, the bright open layout features large windows that bring in abundant natural light and a glimpse of the ocean. The kitchen is equipped with granite counters, slate floors and stainless steel appliances. Comfortable bedrooms provide a relaxing retreat, while the living room sofa-sleeper offers additional space for guests. The unit also includes two covered under-building parking spaces and is just one block from Rockaway Beach’s downtown shops, restaurants, and local attractions. Offered furnished and ready to enjoy as a personal retreat, full-time residence, or vacation rental opportunity.

16. 2026-03-12
    listed $445,000 Active 881-char remark

    Show marketing remark (881 chars)

    Enjoy coastal living and investment potential in this well-maintained Rockaway Beach condo with a transferable Short-Term Rental (STR) license at closing. Located just steps from the beach, this 2-bedroom, 2-bathroom getaway offers easy access to miles of sand and surf. Inside, the bright open layout features large windows that bring in abundant natural light and a glimpse of the ocean. The kitchen is equipped with granite counters, slate floors and stainless steel appliances. Comfortable bedrooms provide a relaxing retreat, while the living room sofa-sleeper offers additional space for guests. The unit also includes two covered under-building parking spaces and is just one block from Rockaway Beach’s downtown shops, restaurants, and local attractions. Offered furnished and ready to enjoy as a personal retreat, full-time residence, or vacation rental opportunity.

17. 2025-12-15
    status Active
18. 2025-12-12
    price $455,000
19. 2025-03-18
    status Active
20. 2025-03-18
    price $299,000
21. 2025-03-12
    price $455,000
22. 2025-02-07
    price $467,000
23. 2025-01-30
    historical
24. 2025-01-17
    price $309,000
25. 2025-01-01
    listed $324,000 Active
26. 2024-03-07
    listed $498,500
27. 2024-03-07
    listed $498,500
28. 2022-08-05
    soldstatus $492,500 Closed
29. 2022-08-05
    soldstatus $492,500 Closed
30. 2022-08-05
    soldstatus $492,500
31. 2022-07-30
    status Pending
32. 2022-07-22
    status Pending
33. 2022-07-02
    price $495,000
34. 2022-03-26
    listed $519,000 Active
35. 2022-02-25
    price $495,000
36. 2022-01-26
    listed $399,000
37. 2020-12-18
    soldstatus $300,000
38. 2020-12-18
    soldstatus $300,000
39. 2020-12-18
    soldstatus $300,000
40. 2020-09-02
    listed $319,000
41. 2020-09-02
    listed $319,000
42. 2010-04-04
    soldstatus $165,000
43. 2009-10-01
    listed $189,900

ⓘ 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: $2,845 · $237/mo
• Projected year-2 tax: $4,220 · $352/mo
• Expected delta: +$1,375/yr (+$115/mo · 48.3%)

ⓘ 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: $57,217
• − Mortgage interest: −$24,367
• − Property taxes: −$2,845
• − Insurance: −$2,175
• − Repairs & maintenance: −$4,577
• − Management: −$4,577
• − HOA: −$4,140
• − Depreciation: −$12,655
• Taxable income: $1,881
• Est. tax owed @ 24.0%: −$452
• After-tax cash flow: $8,216/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

+129.1% since first listed

31 events — show timeline

• 2026-05-13 Price Changed $435,000 OCMLS
• 2026-05-13 Price Changed $435,000 RMLS
• 2026-03-12 Listed $445,000 RMLS
• 2026-03-12 Listed $445,000 OCMLS
• 2025-12-15 Relisted — OCMLS
• 2025-12-12 Price Changed $455,000 OCMLS
• 2025-03-18 Relisted — OCMLS
• 2025-03-18 Price Changed $299,000 OCMLS
• 2025-03-12 Price Changed $455,000 OCMLS
• 2025-02-07 Price Changed $467,000 OCMLS
• 2025-01-30 Delisted — OCMLS
• 2025-01-17 Price Changed $309,000 OCMLS
• 2025-01-01 Listed $324,000 OCMLS
• 2024-03-07 Listed $498,500 OCMLS
• 2024-03-07 Listed $498,500 OCMLS
• 2022-08-05 Sold (Public Records) $492,500 Public Records
• 2022-08-05 Sold (MLS) $492,500 OCMLS
• 2022-08-05 Sold (MLS) $492,500 RMLS
• 2022-07-30 Pending — RMLS
• 2022-07-22 Pending — RMLS
• 2022-07-02 Price Changed $495,000 RMLS
• 2022-03-26 Listed $519,000 RMLS
• 2022-02-25 Price Changed $495,000 OCMLS
• 2022-01-26 Listed $399,000 OCMLS
• 2020-12-18 Sold (Public Records) $300,000 Public Records
• 2020-12-18 Sold (MLS) $300,000 OCMLS
• 2020-12-18 Sold (MLS) $300,000 RMLS
• 2020-09-02 Listed $319,000 OCMLS
• 2020-09-02 Listed $319,000 RMLS
• 2010-04-04 Sold (MLS) $165,000 RMLS
• 2009-10-01 Listed $189,900 RMLS

Property tax history

+7.8%/yr

Latest (2025): $2,845 · +8.6% YoY. Source: county tax records.