211 S 2nd Ave · Rockaway Beach, OR 97136

$349,000

2 bd · 1.0 ba · 774 sqft · SingleFamily public records · 43 Days on market

Built 1922 2,613 sqft lot $451/sqft · 8% above area Est $322k · 8% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• Schools +4.2/10.0
• ARV discount +3.8/15.0
• 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

Just a short stroll from the sand, shops, and local favorites, this 2-bedroom Rockaway Beach bungalow blends classic cabin charm with thoughtful updates that make it comfortable year-round. Whether you're looking for full time beach-life or slipping away for weekends, the location puts everything within reach. Outside, both the front and back are more than "yards"- they are living spaces that invite you to settle in; perfect for morning coffee, evenings around the fire pit, grilling on the Traeger, or simply watching the rhythm of town drift by. It's the kind of setup that turns a quick trip to the coast into a full day of memories.Inside, natural light fills the home, creating a warm and welcoming feel. The updated kitchen and bathroom bring modern convenience, while smart storage solutions make the most of the home's efficient footprint. If you're worried this might be a little tight- wait until you see the carriage house! Currently in use as an awesome office space, it could become an amazing party room or kid's castle- fantastic bonus square footage waiting for your vision. Well cared for and ready to enjoy, this home offers a rare mix of walkable location, livable layout, and approachable price point; a place where beach days are easy and the pace feels just right, ready to enjoy on day 1 as the Seller is offering the home fully furnished and turn key- right down to the beach cruiser bikes and the 3 person inflatable kayak!!!

Key facts

• Office space
• Updated kitchen
• Carriage house

Tags

• ROCKAWAY BEACH BUNGALOW
• UPDATED KITCHEN
• UPDATED BATHROOM
• CARRIAGE HOUSE
• OFFICE SPACE
• BONUS SQUARE FOOTAGE

Property features AI

Finance

• Other: Lot is level and located within a quarter mile of the ocean; Paved road access
• HOA & community: Not a senior community; Zoning: RK_R2

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Electric service
• Home design: Single-family residence; Updated/remodeled; Residential property; No view indicated
• Construction: Built in 1922; Composition roof; Concrete perimeter foundation
• Exterior features: Deck; Fenced yard; Fire pit; Outbuilding; Raised garden beds; Cement siding

Interior

• Kitchen: Dishwasher; Free-standing range; Free-standing refrigerator; Range hood; Stainless steel appliances; Tile surfaces
• Bedrooms: Primary bedroom on main level (approx. 10 x 13); Second bedroom on main level (approx. 10 x 9)
• Flooring: Tile
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Wall heater; Wood stove; Zoned heating; No central cooling
• Interior features: Furnished; Laundry area; Washer and dryer included; Wood-burning stove fireplace (1)
• Laundry & utility: Washer and dryer present; Electric hot water

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $349k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/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: $339k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.5% vs local median 6.6% 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: 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 $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 ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($339k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 22y 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.
• Current owner paid $249k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1922 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $338,530 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.30% ✓
• Cap rate: 11.49%
• Cash-on-cash: 18.56%
• DSCR: 1.83
• GRM: 6.4

CMA / ARV

• ARV (median comp): $322,246
• List price: $349,000
• Delta: 8.30%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
366 N Pacific St	0.33mi	2/1.0	792 (+2%)	6mo	$458,500	$579	75
138 N Dolphin St	0.17mi	2/1.0	869 (+12%)	3mo	$353,000	$406	69

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: 3.4%
• Equity multiple: 1.13×
• Total profit: $12,692
• Equity at exit: $52,037

10-year hold

• IRR: 12.9%
• Equity multiple: 2.03×
• Total profit: $100,578
• 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: 126
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $4,554 medium
• Mortgage (P&I): −$1,830
• Tax from tax record: −$111 /mo · $1,327/yr
• Insurance: −$145
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$956
• Net cashflow: $1,085

Break-even live

Break-even rent $3,181

Max offer price $349,000

Occupancy floor 71%

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	0.15mi
406 N 3rd Ave Rockaway Beach, OR	2.0	1.0	762	$3,000	$3.94	44d	1	0.20mi

Listing history 22 events

1. 2026-06-18
   days on market $349,000 Active 43 DOM
2. 2026-06-17
   days on market $349,000 Active 42 DOM
3. 2026-06-16
   days on market $349,000 Active 41 DOM
4. 2026-06-15
   days on market $349,000 Active 40 DOM
5. 2026-06-13
   days on market $349,000 Active 38 DOM
6. 2026-06-12
   days on market $349,000 Active 37 DOM
7. 2026-06-09
   days on market $349,000 Active 34 DOM
8. 2026-06-08
   days on market $349,000 Active 33 DOM
9. 2026-06-08
   days on market $349,000 Active 32 DOM
10. 2026-06-07
    days on market $349,000 Active 31 DOM
11. 2026-06-04
    days on market $349,000 Active 28 DOM
12. 2026-06-02
    days on market $349,000 Active 27 DOM
13. 2026-06-01
    days on market $349,000 Active 26 DOM
14. 2026-05-31
    days on market $349,000 Active 25 DOM
15. 2026-05-07
    listed $349,000 Active 1464-char remark

    Show marketing remark (1464 chars)

    Just a short stroll from the sand, shops, and local favorites, this 2-bedroom Rockaway Beach bungalow blends classic cabin charm with thoughtful updates that make it comfortable year-round. Whether you're looking for full time beach-life or slipping away for weekends, the location puts everything within reach. Outside, both the front and back are more than "yards"- they are living spaces that invite you to settle in; perfect for morning coffee, evenings around the fire pit, grilling on the Traeger, or simply watching the rhythm of town drift by. It's the kind of setup that turns a quick trip to the coast into a full day of memories.Inside, natural light fills the home, creating a warm and welcoming feel. The updated kitchen and bathroom bring modern convenience, while smart storage solutions make the most of the home's efficient footprint. If you're worried this might be a little tight- wait until you see the carriage house! Currently in use as an awesome office space, it could become an amazing party room or kid's castle- fantastic bonus square footage waiting for your vision. Well cared for and ready to enjoy, this home offers a rare mix of walkable location, livable layout, and approachable price point; a place where beach days are easy and the pace feels just right, ready to enjoy on day 1 as the Seller is offering the home fully furnished and turn key- right down to the beach cruiser bikes and the 3 person inflatable kayak!!!

16. 2026-05-06
    listed $349,000 Active 1496-char remark
17. 2020-06-11
    soldstatus $249,000

    Show marketing remark (387 chars)

    It's beautiful! Just a few blocks to the beach, shopping, dining, & grocery. This one is sweet and ready to enjoy. Fully remodeled with many new features. enjoy sitting on the private back deck in the nice weather, cozy up to the fire in the backyard fire pit, or play cards in the cowboy themed outbuilding. Everything inside and out is included with this one so come and get it!

18. 2020-02-15
    listed $259,950

    Show marketing remark (387 chars)

    It's beautiful! Just a few blocks to the beach, shopping, dining, & grocery. This one is sweet and ready to enjoy. Fully remodeled with many new features. enjoy sitting on the private back deck in the nice weather, cozy up to the fire in the backyard fire pit, or play cards in the cowboy themed outbuilding. Everything inside and out is included with this one so come and get it!

19. 2011-08-18
    soldstatus $181,000
20. 2004-10-07
    soldstatus $108,000
21. 2004-10-07
    soldstatus $108,000
22. 2004-08-10
    listed $112,000

ⓘ 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: $1,327 · $111/mo
• Projected year-2 tax: $3,385 · $282/mo
• Expected delta: +$2,059/yr (+$172/mo · 155.2%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 9 d/yr ≥76°F today · 20 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: $54,651
• − Mortgage interest: −$19,549
• − Property taxes: −$1,327
• − Insurance: −$6,864
• − Repairs & maintenance: −$4,372
• − Management: −$4,372
• − Depreciation: −$10,153
• Taxable income: $8,015
• Est. tax owed @ 24.0%: −$1,923
• After-tax cash flow: $11,098/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

+211.6% since first listed

8 events — show timeline

• 2026-05-07 Listed $349,000 OCMLS
• 2026-05-06 Listed $349,000 RMLS
• 2020-06-11 Sold (MLS) $249,000 RMLS
• 2020-02-15 Listed $259,950 RMLS
• 2011-08-18 Sold (Public Records) $181,000 Public Records
• 2004-10-07 Sold (Public Records) $108,000 Public Records
• 2004-10-07 Sold (MLS) $108,000 OCMLS
• 2004-08-10 Listed $112,000 OCMLS

Property tax history

+4.0%/yr

Latest (2025): $1,327 · +8.6% YoY. Source: county tax records.