1009 King Salmon Pl · Warrenton, OR 97121

$299,999

3 bd · 2.0 ba · 1,782 sqft · SingleFamily public records · 127 Days on market

Built 1990 5,227 sqft lot $168/sqft · 24% below area Est $397k · 24% under ↓ 2% since listing

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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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +6.3/30.0
• Schools +3.9/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.6/10.0
• 1% rule +0.5/10.0

Listing remarks MLS

Coastal lifestyle + fixer opportunity in Hammond! Located near the Pacific Ocean & Columbia River, this 1990 double-wide manufactured home offers a generous 1,782 sq ft, 3 bedrooms, 2 baths & a very functional floor plan. You'll love the head start that the updated kitchen provides to complement your design vision. The large utility room is convenient for laundry & storage of your outdoor gear. Step out onto the deck to breathe in the fresh ocean air and relax. Fort Stevens State Park and the Hammond Marina are just a few minutes away making it easy to enjoy fishing, clam digging, biking, hiking, picnicking and the adventure & joy of being outdoors. Restaurants & shopping are conveniently located close by, as well. This is a fixer and priced accordingly—Cash Only Due to Condition. Sold ' AS IS' No Repairs. This is an opportunity to make the home reflect your design style and to live the coastal lifestyle!

Key facts

• Near columbia river
• Near pacific ocean
• Deck

Tags

• UPDATED KITCHEN
• LARGE UTILITY ROOM
• DECK
• NEAR PACIFIC OCEAN
• NEAR COLUMBIA RIVER
• NEAR FORT STEVENS STATE PARK

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $-537 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $205k (31.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $164k (45.3% below list).
• Recommended offer: $164k (45.3% below list) — sets the bar for 1% rule.
• Cap rate 4.1% vs local median 2.5% in Warrenton — 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 71/100 on livability (#112 in OR) — a middle-class / working-renter tenant base. Strengths: housing A+, commute A-, employment B; Watch: health & safety C-, crime F, amenities F.
• Warrenton-Hammond SD 30 (town): math 38% / reading 49% proficiency, ranked #88 of 183 in OR (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Warrenton Grade School (reading 24%, 449 students, 48% FRL); Warrenton Middle School (244 students, 41% FRL); Warrenton High School (275 students, 51% FRL) — zoned schools at 47% FRL track the district average.
• Market conditions: 11 active listings in the ZIP; 98 units permitted in Clatsop County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $32k of equity ($2k loan paydown + $30k appreciation (10.0% local appreciation)).
• By year 2, paydown + projected appreciation supports a ~$52k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 127 days — a 12% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• 2 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 $164,161 (45.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 127 days. Have you received any prior offers? Is the seller open to a 45% concession, seller financing, or rate buy-down credit?
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. Crime grade is F 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?
6. 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?
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: 0.55% ✗
• Cap rate: 4.14%
• Cash-on-cash: -7.68%
• DSCR: 0.66
• GRM: 15.2

CMA / ARV

• ARV (median comp): $396,777
• List price: $299,999
• Delta: -24.39%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1058 Nautical Dr	0.18mi	3/2.0	1,706 (-4%)	7mo	$496,000	$291	78
1175 Pacific Dr	0.27mi	4/2.0 (+1)	1,694 (-5%)	3mo	$431,000	$254	72
1615 Pacific Ridge Ln	0.36mi	3/2.0	1,664 (-7%)	4mo	$525,000	$316	69
1690 Westwind Cir	0.47mi	3/2.0	1,752 (-2%)	11mo	$485,000	$277	66
1049 Nautical Dr	0.17mi	3/2.0	1,945 (+9%)	14mo	$532,000	$274	65
1565 8th Ave	0.34mi	3/2.0	1,600 (-10%)	7mo	$389,500	$243	61
1225 3rd Ave	0.40mi	3/3.0	1,672 (-6%)	7mo	$440,000	$263	61
1675 Westwind Cir	0.43mi	3/2.0	1,662 (-7%)	11mo	$520,200	$313	60
695 Peacock St	0.36mi	3/2.0	1,690 (-5%)	20mo	$485,000	$287	58
1055 Nautical Dr	0.18mi	3/3.0	1,571 (-12%)	16mo	$515,000	$328	54
1089 Nautical Dr	0.24mi	3/3.0	1,530 (-14%)	11mo	$519,000	$339	52
881 Pacific Dr	0.38mi	3/1.0	1,528 (-14%)	10mo	$394,000	$258	46

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: 18.8%
• Equity multiple: 2.54×
• Total profit: $129,045
• Equity at exit: $270,263

10-year hold

• IRR: 17.4%
• Equity multiple: 5.84×
• Total profit: $406,683
• Equity at exit: $582,832

Cash invested: $84,000 (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 97121

• Home prices YoY: 10.2%
• Active inventory: 11
• Price-to-rent: 15.2×

Monthly cashflow live

• Estimated rent: $1,642 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$136 /mo · $1,631/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $-537

Break-even live

Break-even rent $2,322

Max offer price $205,083

Occupancy floor —

Sensitivity live

Price	-10% $-367	-5% $-452	+0% $-537	+5% $-622	+10% $-707
Rent	-10% $-667	-5% $-602	+0% $-537	+5% $-472	+10% $-408
Rate	-1.0pp $-386	-0.5pp $-461	base $-537	+0.5pp $-615	+1.0pp $-694

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $299,999 Active 127 DOM
2. 2026-06-18
   days on market $299,999 Active 126 DOM
3. 2026-06-17
   days on market $299,999 Active 125 DOM
4. 2026-06-16
   days on market $299,999 Active 124 DOM
5. 2026-06-15
   days on market $299,999 Active 123 DOM
6. 2026-06-14
   days on market $299,999 Active 121 DOM
7. 2026-06-12
   days on market $299,999 Active 120 DOM
8. 2026-06-09
   days on market $299,999 Active 117 DOM
9. 2026-06-08
   days on market $299,999 Active 116 DOM
10. 2026-06-07
    days on market $299,999 Active 115 DOM
11. 2026-06-02
    days on market $299,999 Active 110 DOM
12. 2026-06-01
    days on market $299,999 Active 109 DOM
13. 2026-05-31
    days on market $299,999 Active 108 DOM
14. 2026-05-30
    days on market $299,999 Active 107 DOM
15. 2026-04-15
    price $299,999 954-char remark

    Show marketing remark (957 chars)

    Coastal lifestyle + fixer opportunity in Hammond! Located near the Pacific Ocean & Columbia River, this 1990 double-wide manufactured home offers a generous 1,782 sq ft, 3 bedrooms, 2 baths & a very functional floor plan. You’ll love the head start that the updated kitchen provides to complement your design vision. The large utility room is convenient for laundry & storage of your outdoor gear. Step out onto the deck to breathe in the fresh ocean air and relax. Fort Stevens State Park and the Hammond Marina are just a few minutes away making it easy to enjoy fishing, clam digging, biking, hiking, picnicking and the adventure & joy of being outdoors. Restaurants & shopping are conveniently located close by, as well. This is a fixer and priced accordingly—Cash Only Due to Condition. Sold ' AS IS' No Repairs. This is an opportunity to make the home reflect your design style and to live the coastal lifestyle!

16. 2026-04-15
    price $299,999 957-char remark

    Show marketing remark (957 chars)

    Coastal lifestyle + fixer opportunity in Hammond! Located near the Pacific Ocean & Columbia River, this 1990 double-wide manufactured home offers a generous 1,782 sq ft, 3 bedrooms, 2 baths & a very functional floor plan. You’ll love the head start that the updated kitchen provides to complement your design vision. The large utility room is convenient for laundry & storage of your outdoor gear. Step out onto the deck to breathe in the fresh ocean air and relax. Fort Stevens State Park and the Hammond Marina are just a few minutes away making it easy to enjoy fishing, clam digging, biking, hiking, picnicking and the adventure & joy of being outdoors. Restaurants & shopping are conveniently located close by, as well. This is a fixer and priced accordingly—Cash Only Due to Condition. Sold ' AS IS' No Repairs. This is an opportunity to make the home reflect your design style and to live the coastal lifestyle!

17. 2026-02-12
    listed $306,000 Active 954-char remark

    Show marketing remark (957 chars)

    Coastal lifestyle + fixer opportunity in Hammond! Located near the Pacific Ocean & Columbia River, this 1990 double-wide manufactured home offers a generous 1,782 sq ft, 3 bedrooms, 2 baths & a very functional floor plan. You’ll love the head start that the updated kitchen provides to complement your design vision. The large utility room is convenient for laundry & storage of your outdoor gear. Step out onto the deck to breathe in the fresh ocean air and relax. Fort Stevens State Park and the Hammond Marina are just a few minutes away making it easy to enjoy fishing, clam digging, biking, hiking, picnicking and the adventure & joy of being outdoors. Restaurants & shopping are conveniently located close by, as well. This is a fixer and priced accordingly—Cash Only Due to Condition. Sold ' AS IS' No Repairs. This is an opportunity to make the home reflect your design style and to live the coastal lifestyle!

18. 2026-02-12
    listed $306,000 Active 957-char remark

    Show marketing remark (957 chars)

    Coastal lifestyle + fixer opportunity in Hammond! Located near the Pacific Ocean & Columbia River, this 1990 double-wide manufactured home offers a generous 1,782 sq ft, 3 bedrooms, 2 baths & a very functional floor plan. You’ll love the head start that the updated kitchen provides to complement your design vision. The large utility room is convenient for laundry & storage of your outdoor gear. Step out onto the deck to breathe in the fresh ocean air and relax. Fort Stevens State Park and the Hammond Marina are just a few minutes away making it easy to enjoy fishing, clam digging, biking, hiking, picnicking and the adventure & joy of being outdoors. Restaurants & shopping are conveniently located close by, as well. This is a fixer and priced accordingly—Cash Only Due to Condition. Sold ' AS IS' No Repairs. This is an opportunity to make the home reflect your design style and to live the coastal lifestyle!

ⓘ 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: $1,631 · $136/mo
• Projected year-2 tax: $2,910 · $242/mo
• Expected delta: +$1,279/yr (+$107/mo · 78.4%)

ⓘ 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 7 d/yr ≥75°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,699
• − Mortgage interest: −$16,805
• − Property taxes: −$1,631
• − Insurance: −$1,500
• − Repairs & maintenance: −$1,576
• − Management: −$1,576
• − Depreciation: −$8,727
• Taxable loss: −$12,116
• Est. tax savings @ 24.0%: +$2,908
• After-tax cash flow: $-3,540/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: Warrenton-Hammond SD 30
• NCES district ID: 4113080
• Math proficiency: 38% ▼ -2.00%
• Reading proficiency: 49% ▼ -2.00%
• Median HH income: $44,286
• Composite: 39.11/100
• National rank: #8250
• State rank: #88 of 183 in OR

Livability — Warrenton

• Score: 71/100
• State rank: #112
• US rank: #6619

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Warrenton, OR
• Population (ZIP): 1,643

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 (90%)
• Race & ethnicity: White 90% Two or more races 6% Hispanic / Latino 3% Native American 2%
• Common ancestry: Italian 6% Portuguese 5% Slovak 3%
• Foreign-born: 3% · Canada

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: ▲ 31.87%
• Current HPI: 343.68
• 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

-2.0% since first listed

4 events — show timeline

• 2026-04-15 Price Changed $299,999 CAR
• 2026-04-15 Price Changed $299,999 RMLS
• 2026-02-12 Listed $306,000 RMLS
• 2026-02-12 Listed $306,000 CAR

Property tax history

+3.8%/yr

Latest (2025): $1,631 · -0.1% YoY. Source: county tax records.