5940 Summerhouse Ln · Pacific City, OR 97135

$53,000

2 bd · 2.5 ba · 1,346 sqft · Townhouse public records · 3 Days on market

Built 1997 3,484 sqft lot $125/mo HOA · 5% of rent ↓ 18% since listing

---

Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• Appreciation +5.4/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Five-week fractional ownership opportunity in the desirable Shorepine Village. Located adjacent to a seasonal pond, this cozy, dog-friendly 2-bedroom, 2.5-bathroom beach house offers a private and serene setting. This is an affordable way to own real property in the heart of Cape Kiwanda, featuring a bonus office/sleeping loft perfect for children. The shared home is self-managed with very reasonable HOA fees. Residents can also enjoy a network of walking and biking trails that lead directly to the dunes and beach access.

Key facts

• Seasonal pond
• Beach access
• Private setting

Tags

• SEASONAL POND
• PRIVATE SETTING
• BONUS OFFICE SLEEPING LOFT
• BEACH ACCESS

Property features AI

Finance

• HOA & community: Homeowners association (Kingfisher and Shorepine Village HOA); Quarterly HOA fee; HOA fee covers electricity, gas, insurance, internet, grounds and structure maintenance, water, utilities and property taxes for common areas; Association amenities include barbecue, clubhouse, fitness center, recreation room, trails, meeting room and beach access

Exterior

• Parking: Attached garage with driveway (1 garage space)
• Utilities: Public water; Public sewer; Electricity connected; Propane available; Water available
• Home design: Two-story home; Built in 1997
• Construction: Shake, cedar and shingle siding; Composition roof; No other structures
• Exterior features: Deck; Front porch; Level lot; Waterfront

Interior

• Kitchen: Electric oven and electric range; Microwave; Dishwasher; Refrigerator
• Bedrooms: Includes a bedroom (Bedroom 2); Living room and kitchen included
• Flooring: Carpet; Tile; Vinyl
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Has heating; No cooling
• Interior features: Vaulted ceilings; Window treatments; Furnished
• Laundry & utility: Washer and dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath townhouse listed at $53k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $53k).
• Cap rate 39.9% vs local median 1.9% in Pacific City — 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 67/100 on livability (#173 in OR) — a middle-class / working-renter tenant base. Strengths: crime A+, employment B, housing B; Watch: commute D+, health & safety D+, schools F.
• Nestucca Valley SD 101J (rural): math 33% / reading 50% proficiency, ranked #101 of 183 in OR (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 113 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 86 units permitted in Tillamook County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $752 of equity ($366 loan paydown + $386 appreciation (0.7% local appreciation)).
• Tillamook County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (0.7% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $46k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $53,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. 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.
6. 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.
7. 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: 4.72% ✓
• Cap rate: 39.89%
• Cash-on-cash: 119.98%
• DSCR: 6.34
• GRM: 1.8

CMA / ARV

• ARV (on-the-fly): $549,168
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5902 Barefoot Ln	0.04mi	2/3.0	1,337 (-1%)	2mo	$545,000	$408	93
5904 Barefoot Ln	0.03mi	2/3.0	1,337 (-1%)	6mo	$525,000	$393	91

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

Projected returns pro-forma

0.73% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.40×
• Total profit: $94,907
• Equity at exit: $17,350

10-year hold

• IRR: —
• Equity multiple: 15.41×
• Total profit: $213,894
• Equity at exit: $22,493

Cash invested: $14,840 (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 97135

• Home prices YoY: 0.4%
• Active inventory: 113
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $2,500 medium
• Mortgage (P&I): −$278
• Tax est. 1.5%: −$66 /mo · $795/yr
• Insurance: −$22
• HOA: −$125
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $1,484

Break-even live

Break-even rent $622

Max offer price $53,000

Occupancy floor 36%

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: $13,250
• Closing costs: $1,590
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
35480 Salal Ln Pacific City, OR	2.0	2.0	1500	$2,500	$1.67	43d	1	1.10mi

HOA detail

• Monthly dues: $125 · $1,500/yr

Listing history 4 events

1. 2026-06-18
   days on market $53,000 Active 3 DOM
2. 2026-06-17
   days on market $53,000 Active 2 DOM
3. 2026-06-16
   remarks 527-char remark
4. 2026-06-16
   listed $53,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 66% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 8 d/yr ≥77°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 11 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,000
• − Mortgage interest: −$2,969
• − Property taxes: −$795
• − Insurance: −$265
• − Repairs & maintenance: −$2,400
• − Management: −$2,400
• − HOA: −$1,500
• − Depreciation: −$1,542
• Taxable income: $18,129
• Est. tax owed @ 24.0%: −$4,351
• After-tax cash flow: $13,454/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: Nestucca Valley SD 101J
• NCES district ID: 4108700
• Math proficiency: 33% ▼ -4.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $41,958
• Composite: 37.3/100
• National rank: #8956
• State rank: #101 of 183 in OR

Livability — Pacific City

• Score: 67/100
• State rank: #173
• US rank: #10340

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pacific City, OR
• City population: 1,505
• Population (ZIP): 1,505

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 8% Two or more races 3%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Lithuanian 8% Italian 5% Romanian 5%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 3%

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: ▲ 0.73%
• Current HPI: 197.7747
• 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

-18.5% since first listed

3 events — show timeline

• 2026-06-15 Listed $53,000 OCMLS
• 2023-02-10 Sold (Public Records) $46,000 Public Records
• 2012-01-20 Sold (Public Records) $65,000 Public Records

Property tax history

+4.8%/yr

Latest (2025): $4,408 · +5.5% YoY. Source: county tax records.