111 S Dolphin St · Rockaway Beach, OR 97136

$370,000

2 bd · 1.0 ba · 800 sqft · SingleFamily public records · 214 Days on market

Built 1973 3,484 sqft lot $462/sqft · 9% above area Est $340k · 9% 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 +7.4/10.0
• Schools +4.2/10.0
• Livability +3.7/5.0
• ARV discount +3.5/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to your furnished, turnkey coastal retreat in the heart of Rockaway Beach! Just a few blocks from sandy ocean shores, this beautifully updated one level home offers modern comfort & laid back beach living. Inside, you'll find a cozy interior featuring a propane stove, stylish butcher block kitchen counters, LVP flooring throughout & updated finishes that make the space feel bright, clean & inviting. Clerestory windows in the gable peak let in lots of natural light! Step outside to a fully fenced yard perfect for pets, gatherings, or relaxing after a day at the beach. Fire pit creates the perfect setting for evening s'mores & coastal sunsets. Whether you're looking for a vacation getaway or a move in ready full time home, this Rockaway Beach gem delivers classic Oregon Coast charm!

Key facts

• Propane stove
• Furnished turnkey
• Clerestory windows

Tags

• FURNISHED TURNKEY
• PROPANE STOVE
• BUTCHER BLOCK KITCHEN COUNTERS
• LVP FLOORING
• CLERESTORY WINDOWS
• FULLY FENCED YARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $370k.

Deal economics

• At list price, monthly cash flow is $986 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $370k).
• Recommended offer: $326k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.9% 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.
• 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 $3k of loan paydown is wiped out by about $11k 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 $104k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 214 days — a 12% lower offer ($326k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 25y ago; this cycle's ask has dropped $20k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $190k; list at $370k implies a 95% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $325,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 214 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 1973 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.24% ✓
• Cap rate: 10.88%
• Cash-on-cash: 16.37%
• DSCR: 1.73
• GRM: 6.7

CMA / ARV

• ARV (median comp): $340,012
• List price: $370,000
• Delta: 8.82%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
366 N Pacific St	0.26mi	2/1.0	792 (-1%)	6mo	$458,500	$579	81
138 N Dolphin St	0.06mi	2/1.0	869 (+9%)	3mo	$353,000	$406	80
110 S Palisade St	0.43mi	2/2.0	893 (+12%)	8mo	$494,000	$553	50

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: 0.8%
• Equity multiple: 1.03×
• Total profit: $2,995
• Equity at exit: $55,168

10-year hold

• IRR: 10.4%
• Equity multiple: 1.81×
• Total profit: $84,016
• Equity at exit: $31,991

Cash invested: $103,600 (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 97136

• Home prices YoY: -34.6%
• Active inventory: 126
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $4,601 medium
• Mortgage (P&I): −$1,940
• Tax from tax record: −$127 /mo · $1,528/yr
• Insurance: −$154
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$966
• Net cashflow: $986

Break-even live

Break-even rent $3,352

Max offer price $370,000

Occupancy floor 74%

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: $92,500
• Closing costs: $11,100
• 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	43d	1	0.08mi
406 N 3rd Ave Rockaway Beach, OR	2.0	1.0	762	$3,000	$3.94	43d	1	0.14mi

Listing history 33 events

1. 2026-06-18
   days on market $370,000 Active 214 DOM
2. 2026-06-17
   days on market $370,000 Active 213 DOM
3. 2026-06-16
   days on market $370,000 Active 212 DOM
4. 2026-06-15
   days on market $370,000 Active 211 DOM
5. 2026-06-13
   days on market $370,000 Active 209 DOM
6. 2026-06-12
   days on market $370,000 Active 208 DOM
7. 2026-06-09
   days on market $370,000 Active 205 DOM
8. 2026-06-08
   days on market $370,000 Active 204 DOM
9. 2026-06-08
   days on market $370,000 Active 203 DOM
10. 2026-06-07
    days on market $370,000 Active 202 DOM
11. 2026-06-04
    days on market $370,000 Active 199 DOM
12. 2026-06-02
    days on market $370,000 Active 198 DOM
13. 2026-06-01
    days on market $370,000 Active 197 DOM
14. 2026-05-31
    days on market $370,000 Active 196 DOM
15. 2026-05-20
    status Active 815-char remark

    Show marketing remark (815 chars)

    Welcome to your furnished, turnkey coastal retreat in the heart of Rockaway Beach! Just a few blocks from sandy ocean shores, this beautifully updated one level home offers modern comfort & laid back beach living. Inside, you'll find a cozy interior featuring a propane stove, stylish butcher block kitchen counters, LVP flooring throughout & updated finishes that make the space feel bright, clean & inviting. Clerestory windows in the gable peak let in lots of natural light! Step outside to a fully fenced yard perfect for pets, gatherings, or relaxing after a day at the beach. Fire pit creates the perfect setting for evening s'mores & coastal sunsets. Whether you're looking for a vacation getaway or a move in ready full time home, this Rockaway Beach gem delivers classic Oregon Coast charm!

16. 2026-05-06
    price $370,000 815-char remark

    Show marketing remark (815 chars)

    Welcome to your furnished, turnkey coastal retreat in the heart of Rockaway Beach! Just a few blocks from sandy ocean shores, this beautifully updated one level home offers modern comfort & laid back beach living. Inside, you'll find a cozy interior featuring a propane stove, stylish butcher block kitchen counters, LVP flooring throughout & updated finishes that make the space feel bright, clean & inviting. Clerestory windows in the gable peak let in lots of natural light! Step outside to a fully fenced yard perfect for pets, gatherings, or relaxing after a day at the beach. Fire pit creates the perfect setting for evening s'mores & coastal sunsets. Whether you're looking for a vacation getaway or a move in ready full time home, this Rockaway Beach gem delivers classic Oregon Coast charm!

17. 2026-02-04
    price $380,000 815-char remark

    Show marketing remark (815 chars)

    Welcome to your furnished, turnkey coastal retreat in the heart of Rockaway Beach! Just a few blocks from sandy ocean shores, this beautifully updated one level home offers modern comfort & laid back beach living. Inside, you'll find a cozy interior featuring a propane stove, stylish butcher block kitchen counters, LVP flooring throughout & updated finishes that make the space feel bright, clean & inviting. Clerestory windows in the gable peak let in lots of natural light! Step outside to a fully fenced yard perfect for pets, gatherings, or relaxing after a day at the beach. Fire pit creates the perfect setting for evening s'mores & coastal sunsets. Whether you're looking for a vacation getaway or a move in ready full time home, this Rockaway Beach gem delivers classic Oregon Coast charm!

18. 2026-02-04
    price $380,000 815-char remark

    Show marketing remark (815 chars)

    Welcome to your furnished, turnkey coastal retreat in the heart of Rockaway Beach! Just a few blocks from sandy ocean shores, this beautifully updated one level home offers modern comfort & laid back beach living. Inside, you'll find a cozy interior featuring a propane stove, stylish butcher block kitchen counters, LVP flooring throughout & updated finishes that make the space feel bright, clean & inviting. Clerestory windows in the gable peak let in lots of natural light! Step outside to a fully fenced yard perfect for pets, gatherings, or relaxing after a day at the beach. Fire pit creates the perfect setting for evening s'mores & coastal sunsets. Whether you're looking for a vacation getaway or a move in ready full time home, this Rockaway Beach gem delivers classic Oregon Coast charm!

19. 2025-12-15
    listed $390,000 Active 815-char remark

    Show marketing remark (815 chars)

    Welcome to your furnished, turnkey coastal retreat in the heart of Rockaway Beach! Just a few blocks from sandy ocean shores, this beautifully updated one level home offers modern comfort & laid back beach living. Inside, you'll find a cozy interior featuring a propane stove, stylish butcher block kitchen counters, LVP flooring throughout & updated finishes that make the space feel bright, clean & inviting. Clerestory windows in the gable peak let in lots of natural light! Step outside to a fully fenced yard perfect for pets, gatherings, or relaxing after a day at the beach. Fire pit creates the perfect setting for evening s'mores & coastal sunsets. Whether you're looking for a vacation getaway or a move in ready full time home, this Rockaway Beach gem delivers classic Oregon Coast charm!

20. 2025-12-12
    price $390,000 815-char remark

    Show marketing remark (815 chars)

    Welcome to your furnished, turnkey coastal retreat in the heart of Rockaway Beach! Just a few blocks from sandy ocean shores, this beautifully updated one level home offers modern comfort & laid back beach living. Inside, you'll find a cozy interior featuring a propane stove, stylish butcher block kitchen counters, LVP flooring throughout & updated finishes that make the space feel bright, clean & inviting. Clerestory windows in the gable peak let in lots of natural light! Step outside to a fully fenced yard perfect for pets, gatherings, or relaxing after a day at the beach. Fire pit creates the perfect setting for evening s'mores & coastal sunsets. Whether you're looking for a vacation getaway or a move in ready full time home, this Rockaway Beach gem delivers classic Oregon Coast charm!

21. 2025-11-16
    listed $390,000 Active 815-char remark

    Show marketing remark (815 chars)

    Welcome to your furnished, turnkey coastal retreat in the heart of Rockaway Beach! Just a few blocks from sandy ocean shores, this beautifully updated one level home offers modern comfort & laid back beach living. Inside, you'll find a cozy interior featuring a propane stove, stylish butcher block kitchen counters, LVP flooring throughout & updated finishes that make the space feel bright, clean & inviting. Clerestory windows in the gable peak let in lots of natural light! Step outside to a fully fenced yard perfect for pets, gatherings, or relaxing after a day at the beach. Fire pit creates the perfect setting for evening s'mores & coastal sunsets. Whether you're looking for a vacation getaway or a move in ready full time home, this Rockaway Beach gem delivers classic Oregon Coast charm!

22. 2025-08-13
    soldstatus Closed 815-char remark

    Show marketing remark (815 chars)

    Welcome to your furnished, turnkey coastal retreat in the heart of Rockaway Beach! Just a few blocks from sandy ocean shores, this beautifully updated one level home offers modern comfort & laid back beach living. Inside, you'll find a cozy interior featuring a propane stove, stylish butcher block kitchen counters, LVP flooring throughout & updated finishes that make the space feel bright, clean & inviting. Clerestory windows in the gable peak let in lots of natural light! Step outside to a fully fenced yard perfect for pets, gatherings, or relaxing after a day at the beach. Fire pit creates the perfect setting for evening s'mores & coastal sunsets. Whether you're looking for a vacation getaway or a move in ready full time home, this Rockaway Beach gem delivers classic Oregon Coast charm!

23. 2025-07-14
    status Pending - Accepting Backups 815-char remark

    Show marketing remark (815 chars)

    Welcome to your furnished, turnkey coastal retreat in the heart of Rockaway Beach! Just a few blocks from sandy ocean shores, this beautifully updated one level home offers modern comfort & laid back beach living. Inside, you'll find a cozy interior featuring a propane stove, stylish butcher block kitchen counters, LVP flooring throughout & updated finishes that make the space feel bright, clean & inviting. Clerestory windows in the gable peak let in lots of natural light! Step outside to a fully fenced yard perfect for pets, gatherings, or relaxing after a day at the beach. Fire pit creates the perfect setting for evening s'mores & coastal sunsets. Whether you're looking for a vacation getaway or a move in ready full time home, this Rockaway Beach gem delivers classic Oregon Coast charm!

24. 2025-06-24
    price $725,000 815-char remark

    Show marketing remark (815 chars)

    Welcome to your furnished, turnkey coastal retreat in the heart of Rockaway Beach! Just a few blocks from sandy ocean shores, this beautifully updated one level home offers modern comfort & laid back beach living. Inside, you'll find a cozy interior featuring a propane stove, stylish butcher block kitchen counters, LVP flooring throughout & updated finishes that make the space feel bright, clean & inviting. Clerestory windows in the gable peak let in lots of natural light! Step outside to a fully fenced yard perfect for pets, gatherings, or relaxing after a day at the beach. Fire pit creates the perfect setting for evening s'mores & coastal sunsets. Whether you're looking for a vacation getaway or a move in ready full time home, this Rockaway Beach gem delivers classic Oregon Coast charm!

25. 2025-05-20
    price $744,000 815-char remark

    Show marketing remark (815 chars)

    Welcome to your furnished, turnkey coastal retreat in the heart of Rockaway Beach! Just a few blocks from sandy ocean shores, this beautifully updated one level home offers modern comfort & laid back beach living. Inside, you'll find a cozy interior featuring a propane stove, stylish butcher block kitchen counters, LVP flooring throughout & updated finishes that make the space feel bright, clean & inviting. Clerestory windows in the gable peak let in lots of natural light! Step outside to a fully fenced yard perfect for pets, gatherings, or relaxing after a day at the beach. Fire pit creates the perfect setting for evening s'mores & coastal sunsets. Whether you're looking for a vacation getaway or a move in ready full time home, this Rockaway Beach gem delivers classic Oregon Coast charm!

26. 2025-04-28
    price $765,000 815-char remark

    Show marketing remark (815 chars)

    Welcome to your furnished, turnkey coastal retreat in the heart of Rockaway Beach! Just a few blocks from sandy ocean shores, this beautifully updated one level home offers modern comfort & laid back beach living. Inside, you'll find a cozy interior featuring a propane stove, stylish butcher block kitchen counters, LVP flooring throughout & updated finishes that make the space feel bright, clean & inviting. Clerestory windows in the gable peak let in lots of natural light! Step outside to a fully fenced yard perfect for pets, gatherings, or relaxing after a day at the beach. Fire pit creates the perfect setting for evening s'mores & coastal sunsets. Whether you're looking for a vacation getaway or a move in ready full time home, this Rockaway Beach gem delivers classic Oregon Coast charm!

27. 2025-03-28
    listed $799,000 Active 815-char remark

    Show marketing remark (815 chars)

    Welcome to your furnished, turnkey coastal retreat in the heart of Rockaway Beach! Just a few blocks from sandy ocean shores, this beautifully updated one level home offers modern comfort & laid back beach living. Inside, you'll find a cozy interior featuring a propane stove, stylish butcher block kitchen counters, LVP flooring throughout & updated finishes that make the space feel bright, clean & inviting. Clerestory windows in the gable peak let in lots of natural light! Step outside to a fully fenced yard perfect for pets, gatherings, or relaxing after a day at the beach. Fire pit creates the perfect setting for evening s'mores & coastal sunsets. Whether you're looking for a vacation getaway or a move in ready full time home, this Rockaway Beach gem delivers classic Oregon Coast charm!

28. 2007-06-05
    soldstatus $190,000
29. 2007-06-05
    soldstatus $190,000
30. 2007-05-13
    listed $189,500
31. 2001-12-17
    soldstatus $100,000
32. 2001-12-16
    soldstatus $100,000
33. 2001-07-30
    listed $102,500

ⓘ 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: $1,528 · $127/mo
• Projected year-2 tax: $3,589 · $299/mo
• Expected delta: +$2,062/yr (+$172/mo · 135.0%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 10 d/yr ≥76°F today · 21 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: $55,211
• − Mortgage interest: −$20,726
• − Property taxes: −$1,528
• − Insurance: −$6,968
• − Repairs & maintenance: −$4,417
• − Management: −$4,417
• − Depreciation: −$10,764
• Taxable income: $6,392
• Est. tax owed @ 24.0%: −$1,534
• After-tax cash flow: $10,303/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

+261.0% since first listed

19 events — show timeline

• 2026-05-20 Relisted — OCMLS
• 2026-05-06 Price Changed $370,000 RMLS
• 2026-02-04 Price Changed $380,000 OCMLS
• 2026-02-04 Price Changed $380,000 RMLS
• 2025-12-15 Listed $390,000 OCMLS
• 2025-12-12 Price Changed $390,000 OCMLS
• 2025-11-16 Listed $390,000 RMLS
• 2025-08-13 Sold (MLS) — OCMLS
• 2025-07-14 Pending — OCMLS
• 2025-06-24 Price Changed $725,000 OCMLS
• 2025-05-20 Price Changed $744,000 OCMLS
• 2025-04-28 Price Changed $765,000 OCMLS
• 2025-03-28 Listed $799,000 OCMLS
• 2007-06-05 Sold (Public Records) $190,000 Public Records
• 2007-06-05 Sold (MLS) $190,000 RMLS
• 2007-05-13 Listed $189,500 RMLS
• 2001-12-17 Sold (Public Records) $100,000 Public Records
• 2001-12-16 Sold (MLS) $100,000 RMLS
• 2001-07-30 Listed $102,500 RMLS

Property tax history

+3.0%/yr

Latest (2025): $1,528 · +8.6% YoY. Source: county tax records.