2657 N Hwy 101 #6 · Seaside, OR 97138

$69,999

3 bd · 2.0 ba · 1,440 sqft · Manufactured public records · 173 Days on market

Built 1975 $49/sqft · 76% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks MLS

A relaxing 3 bedroom, 2 bath home in a 55+ Seaside Community Welcome home to this warm and welcoming manufactured residence nestled in a desirable 55+ community. New floors and paint for easy single level living, this home offers a comfortable coastal retreat just minutes from the beach, local conveniences, and endless outdoor recreation. Enjoy a relaxed lifestyle in a friendly neighborhood setting.

Key facts

• Coastal retreat
• Single level living
• Built 1975

Tags

• SINGLE LEVEL LIVING
• COASTAL RETREAT
• FRIENDLY NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $70k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• Cap rate 33.0% vs local median 2.5% in Seaside — 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 79/100 on livability (#60 in OR, #2,085 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment C-, crime D+, cost of living D+.
• Seaside SD 10 (town): math 11% / reading 41% proficiency, ranked #53 of 58 in OR (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 226 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 98 units permitted in Clatsop County in 2024 (0 in 5+ unit buildings).
• At $2,514/mo this rent would consume 50% of the median local household income ($60k/yr) (locally 573% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $7k of equity ($484 loan paydown + $7k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 173 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y ago; this cycle's ask has dropped $50k (42%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $61,599 (12.0% below list)

Questions for the listing agent

1. It's been on market 173 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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: 3.59% ✓
• Cap rate: 32.97%
• Cash-on-cash: 95.28%
• DSCR: 5.24
• GRM: 2.3

CMA / ARV

• ARV (median comp): $287,701
• List price: $69,999
• Delta: -75.67%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
169 Ridge Dr	0.73mi	3/2.0	1,512 (+5%)	9mo	$449,000	$297	50

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.00×
• Total profit: $137,243
• Equity at exit: $63,061

10-year hold

• IRR: 99.5%
• Equity multiple: 17.64×
• Total profit: $326,224
• Equity at exit: $135,993

Cash invested: $19,600 (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 97138

• Home prices YoY: 2.6%
• Active inventory: 226
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $2,514 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$33 /mo · $400/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$528
• Net cashflow: $1,556

Break-even live

Break-even rent $544

Max offer price $69,999

Occupancy floor 33%

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2330 Cross Creek St Seaside, OR	2.0	2.0	890	$1,895	$2.13	43d	1	0.53mi
2160 Lewis and Clark Rd Seaside, OR	1.0–2.0	1.0–2.0	814	$1,695	$2.08	43d	3	0.60mi
717 10th Ave Seaside, OR	3.0	1.0	1562	$2,250	$1.44	43d	1	1.20mi
1020 2nd Ave Seaside, OR	3.0	2.5	1601	$6,100	$3.81	43d	1	1.49mi

Listing history 15 events

1. 2026-06-19
   days on market $69,999 Active 173 DOM
2. 2026-06-18
   days on market $69,999 Active 172 DOM
3. 2026-06-17
   days on market $69,999 Active 171 DOM
4. 2026-06-16
   days on market $69,999 Active 170 DOM
5. 2026-06-15
   days on market $69,999 Active 169 DOM
6. 2026-06-14
   days on market $69,999 Active 167 DOM
7. 2026-06-13
   status $69,999 Active 166 DOM
8. 2026-04-17
   price $69,999 403-char remark

   Show marketing remark (403 chars)

   A relaxing 3 bedroom, 2 bath home in a 55+ Seaside Community Welcome home to this warm and welcoming manufactured residence nestled in a desirable 55+ community. New floors and paint for easy single level living, this home offers a comfortable coastal retreat just minutes from the beach, local conveniences, and endless outdoor recreation. Enjoy a relaxed lifestyle in a friendly neighborhood setting.

9. 2026-02-27
   price $86,000 403-char remark

   Show marketing remark (403 chars)

   A relaxing 3 bedroom, 2 bath home in a 55+ Seaside Community Welcome home to this warm and welcoming manufactured residence nestled in a desirable 55+ community. New floors and paint for easy single level living, this home offers a comfortable coastal retreat just minutes from the beach, local conveniences, and endless outdoor recreation. Enjoy a relaxed lifestyle in a friendly neighborhood setting.

10. 2026-02-06
    price $92,000 403-char remark

    Show marketing remark (403 chars)

    A relaxing 3 bedroom, 2 bath home in a 55+ Seaside Community Welcome home to this warm and welcoming manufactured residence nestled in a desirable 55+ community. New floors and paint for easy single level living, this home offers a comfortable coastal retreat just minutes from the beach, local conveniences, and endless outdoor recreation. Enjoy a relaxed lifestyle in a friendly neighborhood setting.

11. 2025-12-19
    price $99,000 403-char remark

    Show marketing remark (403 chars)

    A relaxing 3 bedroom, 2 bath home in a 55+ Seaside Community Welcome home to this warm and welcoming manufactured residence nestled in a desirable 55+ community. New floors and paint for easy single level living, this home offers a comfortable coastal retreat just minutes from the beach, local conveniences, and endless outdoor recreation. Enjoy a relaxed lifestyle in a friendly neighborhood setting.

12. 2025-12-12
    listed $120,000 Active 403-char remark

    Show marketing remark (403 chars)

    A relaxing 3 bedroom, 2 bath home in a 55+ Seaside Community Welcome home to this warm and welcoming manufactured residence nestled in a desirable 55+ community. New floors and paint for easy single level living, this home offers a comfortable coastal retreat just minutes from the beach, local conveniences, and endless outdoor recreation. Enjoy a relaxed lifestyle in a friendly neighborhood setting.

13. 2013-10-03
    soldstatus $1,200,100
14. 2011-10-05
    soldstatus $23,000 172-char remark

    Show marketing remark (172 chars)

    Really nice older updated manufactured home in 55 year or older park. Located at the end of the park with wonderful landscaping. Parking on or off street for you or guests.

15. 2011-06-23
    listed $29,999 172-char remark

    Show marketing remark (172 chars)

    Really nice older updated manufactured home in 55 year or older park. Located at the end of the park with wonderful landscaping. Parking on or off street for you or guests.

ⓘ 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: $400 · $33/mo
• Projected year-2 tax: $679 · $57/mo
• Expected delta: +$279/yr (+$23/mo · 69.6%)

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

Taxation est. · year 1

• Rental income: $30,164
• − Mortgage interest: −$3,921
• − Property taxes: −$400
• − Insurance: −$350
• − Repairs & maintenance: −$2,413
• − Management: −$2,413
• − Depreciation: −$2,036
• Taxable income: $18,630
• Est. tax owed @ 24.0%: −$4,471
• After-tax cash flow: $14,203/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: Seaside SD 10
• NCES district ID: 4111100
• Math proficiency: 11% ▼ -18.00%
• Reading proficiency: 41% ▼ -4.00%
• Median HH income: $43,956
• Composite: 22.19/100
• National rank: #8159
• State rank: #53 of 58 in OR

Livability — Seaside

• Score: 79/100
• State rank: #60
• US rank: #2085

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Seaside, OR
• County: Clatsop County · 29,028 people
• Metro: Astoria, OR
• Population (ZIP): 11,035
• Household income: $60,411
• Rent vs Own: 41.7% rent · 58.3% own
• Severe rent burden: 573.0

Population outlook (Clatsop County) Hauer SSP2

• Today (2025): 39,212 people
• By 2030: 39,765 · +1.4%
• By 2040: 40,121 · +2.3%
• By 2050: 40,032 · +2.1%
• By 2075: 39,123 · -0.2%
• By 2100: 35,965 · -8.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 7% Two or more races 5% Black 1% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Lithuanian 5% Portuguese 3% Scottish 3%
• Foreign-born: 3% · Canada, China
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 1%

Political lean MEDSL · Clatsop

• 2024 margin: D (+11.4) · D 54.1% · R 42.8% · Other 3.1%
• 2008→2024 swing: -7.6pp toward R · 2008: 18.9pp · 2024: 11.4pp
• All cycles: 2024: D+11.4 2020: D+11.3 2016: D+6.1 2012: D+14.6 2008: D+18.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 26.11%
• Current HPI: 1014.65
• Rent YoY: —
• Metro: Astoria, OR
• 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

+133.3% since first listed

8 events — show timeline

• 2026-04-17 Price Changed $69,999 RMLS
• 2026-02-27 Price Changed $86,000 RMLS
• 2026-02-06 Price Changed $92,000 RMLS
• 2025-12-19 Price Changed $99,000 RMLS
• 2025-12-12 Listed $120,000 RMLS
• 2013-10-03 Sold (Public Records) $1,200,100 Public Records
• 2011-10-05 Sold (MLS) $23,000 RMLS
• 2011-06-23 Listed $29,999 RMLS

Property tax history

+5.4%/yr

Latest (2025): $400 · -0.1% YoY. Source: county tax records.