1841 N Miller St · Rockaway Beach, OR 97136

$499,900

3 bd · 2.0 ba · 1,368 sqft · SingleFamily public records · 16 Days on market

Built 1997 3,049 sqft lot Est $531k · 6% under

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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 +29.1/30.0
• ARV discount +10.1/15.0
• DSCR +10.0/10.0
• 1% rule +7.0/10.0
• 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

Ocean View Retreat in Rockaway Beach! Wake up to the Breathtaking ocean views from this charming 3-bedroom, 2 bath home in Rockaway OR! The upper level features a spacious living room and open-concept kitchen with center island, creating an inviting gathering space. The large picture windows fill the room with natural light, creating the perfect backdrop for relaxing or entertaining. On the Main floor, you have 3 comfortable bedrooms, a full bath, and laundry. Whether you are looking for a full-time residence or weekend getaway, this coastal retreat offers all the beach town charm. Just moments from the sand, you will enjoy everything that makes Oregon coast living so special!

Key facts

• Coastal retreat
• Open-concept kitchen
• 3,049 sq ft lot

Tags

• OPEN-CONCEPT KITCHEN
• LARGE PICTURE WINDOWS
• COASTAL RETREAT

Property features AI

Finance

• Other: Property has ocean view; Lot in the 3,000 to 4,999 sqft range
• HOA & community: Not a senior community; Zoning: R1

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Electric service
• Home design: Single-family residence (residential property); Unattached; Resale; Upper and main level living areas
• Construction: Built in 1997; Composition roof; Pillar/post/pier foundation
• Exterior features: Fire pit; Tool shed; Vinyl siding; Ocean view; Located within a quarter mile of the beach

Interior

• Kitchen: Island; Microwave; Dishwasher; Free-standing range; Free-standing refrigerator
• Bedrooms: Primary bedroom on main level; Second bedroom on main level; Third bedroom on main level
• Bathrooms: Two full bathrooms (one on main level, one on upper level)
• Heating & cooling: Forced air heating; No central cooling reported
• Interior features: Ceiling fans; Vinyl window frames; Crawl space basement; Washer and dryer present
• Laundry & utility: Main-level laundry; Electric hot water

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $500k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $500k).
• Recommended offer: $492k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.5% 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: 130 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

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k 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 $140k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($492k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $70k; list at $500k implies a 614% gain — meaningful room to come down on a strong offer.

Recommended offer $492,401 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.20% ✓
• Cap rate: 10.45%
• Cash-on-cash: 14.86%
• DSCR: 1.66
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $530,784
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1702 N Highway 101	0.07mi	3/2.0	1,382 (+1%)	20mo	$499,900	$362	78
151 NE 19th Ave	0.07mi	3/2.0	1,190 (-13%)	10mo	$430,000	$361	67
1353 N Pacific Ln	0.19mi	3/2.0	1,464 (+7%)	16mo	$750,000	$512	66
1064 Necarney St	0.60mi	3/2.0	1,263 (-8%)	4mo	$475,000	$376	56
1068 Necarney St	0.60mi	3/2.0	1,263 (-8%)	8mo	$490,000	$388	52
1176 Necarney St	0.58mi	3/2.0	1,263 (-8%)	15mo	$490,000	$388	48

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: 5.4%
• Equity multiple: 1.21×
• Total profit: $29,174
• Equity at exit: $74,537

10-year hold

• IRR: 14.8%
• Equity multiple: 2.19×
• Total profit: $166,765
• Equity at exit: $43,222

Cash invested: $139,972 (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: 130
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $6,000 medium
• Mortgage (P&I): −$2,622
• Tax from tax record: −$177 /mo · $2,128/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,260
• Net cashflow: $1,733

Break-even live

Break-even rent $3,807

Max offer price $499,900

Occupancy floor 66%

Sensitivity live

Price	-10% $2,016	-5% $1,874	+0% $1,733	+5% $1,591	+10% $1,450
Rent	-10% $1,259	-5% $1,496	+0% $1,733	+5% $1,970	+10% $2,207
Rate	-1.0pp $1,985	-0.5pp $1,860	base $1,733	+0.5pp $1,603	+1.0pp $1,471

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: $124,975
• Closing costs: $14,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 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	45d	1	1.17mi

Listing history 13 events

1. 2026-06-21
   days on market $499,900 Active 16 DOM
2. 2026-06-21
   days on market $499,900 Active 15 DOM
3. 2026-06-18
   days on market $499,900 Active 13 DOM
4. 2026-06-17
   days on market $499,900 Active 12 DOM
5. 2026-06-16
   days on market $499,900 Active 11 DOM
6. 2026-06-15
   days on market $499,900 Active 10 DOM
7. 2026-06-13
   days on market $499,900 Active 8 DOM
8. 2026-06-12
   days on market $499,900 Active 7 DOM
9. 2026-06-09
   days on market $499,900 Active 4 DOM
10. 2026-06-08
    days on market $499,900 Active 3 DOM
11. 2026-06-08
    days on market $499,900 Active 2 DOM
12. 2026-06-07
    remarks 685-char remark
13. 2026-06-07
    listed $499,900 Active 1 DOM

ⓘ 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: $2,128 · $177/mo
• Projected year-2 tax: $4,849 · $404/mo
• Expected delta: +$2,721/yr (+$227/mo · 127.8%)

ⓘ 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 9 d/yr ≥76°F today · 18 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: $72,000
• − Mortgage interest: −$28,002
• − Property taxes: −$2,128
• − Insurance: −$2,500
• − Repairs & maintenance: −$5,760
• − Management: −$5,760
• − Depreciation: −$14,543
• Taxable income: $13,307
• Est. tax owed @ 24.0%: −$3,194
• After-tax cash flow: $17,600/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

+614.1% since first listed

2 events — show timeline

• 2026-06-05 Listed $499,900 RMLS
• 2013-02-13 Sold (Public Records) $70,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $2,128 · +8.6% YoY. Source: county tax records.