34400 Brooten Rd · Pacific City, OR 97135

$535,000

7 bd · 3.0 ba · 2,359 sqft · MultiFamily · 69 Days on market

Built 1940 Fair condition 4,791 sqft lot $227/sqft · at area comps Est $523k · at est.

---

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 +23.3/30.0
• DSCR +7.5/10.0
• ARV discount +6.5/15.0
• 1% rule +6.1/10.0
• Appreciation +5.4/10.0
• Schools +3.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Commercially zoned multi family property on the Nestucca River in the heart of Pacific City. This versatile opportunity includes three units with a total of 7 bedrooms and 3 bathrooms, plus a separate commercial space that can be leased for additional income. Positioned along the river with a private dock, the setting offers both lifestyle appeal and strong rental potential. Recent exterior updates add peace of mind, while ample on site parking supports residential and commercial use. Located just moments from restaurants, coffee, shopping, and nearby parks, with easy access to river activities and the beach, this is a rare chance to own an income producing property in a prime coastal location.

Key facts

• 4,791 sq ft lot
• 8 parking spots
• Built 1940

What this means for you Summary

Snapshot

• This is a 7-bed/3.0-bath multifamily listed at $535k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $983 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $535k).
• Recommended offer: $503k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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; 86 units permitted in Tillamook County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($4k loan paydown + $4k 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 $150k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($503k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 20y 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 $373k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $502,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.11% ✓
• Cap rate: 8.50%
• Cash-on-cash: 7.88%
• DSCR: 1.35
• GRM: 7.5

CMA / ARV

• ARV (median comp): $523,090
• List price: $535,000
• Delta: 2.28%
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 8.8%
• Equity multiple: 1.44×
• Total profit: $65,683
• Equity at exit: $175,140

10-year hold

• IRR: 13.0%
• Equity multiple: 2.54×
• Total profit: $230,100
• Equity at exit: $227,053

Cash invested: $149,800 (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: 22.6×

Monthly cashflow live

• Estimated rent: $5,925 medium
• Mortgage (P&I): −$2,806
• Tax est. 1.5%: −$669 /mo · $8,025/yr
• Insurance: −$223
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,244
• Net cashflow: $983

Break-even live

Break-even rent $4,680

Max offer price $535,000

Occupancy floor 78%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$5,925
Total (3 units)			$5,925

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: $133,750
• Closing costs: $16,050
• Reserves months: —
• Total cash needed: —

Listing history 39 events

1. 2026-06-18
   days on market $535,000 Active 69 DOM
2. 2026-06-17
   days on market $535,000 Active 68 DOM
3. 2026-06-16
   days on market $535,000 Active 67 DOM
4. 2026-06-15
   days on market $535,000 Active 66 DOM
5. 2026-06-13
   days on market $535,000 Active 64 DOM
6. 2026-06-12
   days on market $535,000 Active 63 DOM
7. 2026-06-09
   days on market $535,000 Active 60 DOM
8. 2026-06-08
   days on market $535,000 Active 59 DOM
9. 2026-06-08
   days on market $535,000 Active 58 DOM
10. 2026-06-07
    days on market $535,000 Active 57 DOM
11. 2026-06-04
    days on market $535,000 Active 54 DOM
12. 2026-06-02
    days on market $535,000 Active 53 DOM
13. 2026-06-01
    days on market $535,000 Active 52 DOM
14. 2026-05-31
    days on market $535,000 Active 51 DOM
15. 2026-04-10
    listed $535,000 Active 703-char remark

    Show marketing remark (703 chars)

    Commercially zoned multi family property on the Nestucca River in the heart of Pacific City. This versatile opportunity includes three units with a total of 7 bedrooms and 3 bathrooms, plus a separate commercial space that can be leased for additional income. Positioned along the river with a private dock, the setting offers both lifestyle appeal and strong rental potential. Recent exterior updates add peace of mind, while ample on site parking supports residential and commercial use. Located just moments from restaurants, coffee, shopping, and nearby parks, with easy access to river activities and the beach, this is a rare chance to own an income producing property in a prime coastal location.

16. 2025-12-13
    price $170,000 202-char remark

    Show marketing remark (202 chars)

    Commercial zoned river front multi-unit complex. Presently three apartments, one commercial space, plus storage under 2 bedroom apt. Own a vacation home, business use in your home or just rental income.

17. 2025-12-13
    price $170,000 202-char remark

    Show marketing remark (202 chars)

    Commercial zoned river front multi-unit complex. Presently three apartments, one commercial space, plus storage under 2 bedroom apt. Own a vacation home, business use in your home or just rental income.

18. 2025-12-13
    price $19,950

    Show marketing remark (202 chars)

    Commercial zoned river front multi-unit complex. Presently three apartments, one commercial space, plus storage under 2 bedroom apt. Own a vacation home, business use in your home or just rental income.

19. 2025-12-13
    price $19,950

    Show marketing remark (202 chars)

    Commercial zoned river front multi-unit complex. Presently three apartments, one commercial space, plus storage under 2 bedroom apt. Own a vacation home, business use in your home or just rental income.

20. 2021-04-28
    soldstatus $373,000
21. 2021-04-28
    listed $375,000
22. 2021-04-27
    soldstatus $373,000
23. 2021-03-04
    listed $373,000
24. 2016-06-17
    soldstatus $243,250
25. 2016-06-17
    soldstatus $243,250
26. 2014-05-20
    listed $249,900
27. 2014-05-17
    listed $249,900
28. 2012-01-15
    listed $278,000
29. 2011-09-03
    price $340,000
30. 2011-09-03
    price $340,000
31. 2011-03-05
    listed $340,000
32. 2007-01-22
    soldstatus $436,500 Closed 202-char remark

    Show marketing remark (202 chars)

    Commercial zoned river front multi-unit complex. Presently three apartments, one commercial space, plus storage under 2 bedroom apt. Own a vacation home, business use in your home or just rental income.

33. 2007-01-22
    soldstatus $436,500 Closed 202-char remark

    Show marketing remark (202 chars)

    Commercial zoned river front multi-unit complex. Presently three apartments, one commercial space, plus storage under 2 bedroom apt. Own a vacation home, business use in your home or just rental income.

34. 2007-01-22
    soldstatus $436,500 202-char remark

    Show marketing remark (202 chars)

    Commercial zoned river front multi-unit complex. Presently three apartments, one commercial space, plus storage under 2 bedroom apt. Own a vacation home, business use in your home or just rental income.

35. 2007-01-22
    soldstatus $436,500

    Show marketing remark (202 chars)

    Commercial zoned river front multi-unit complex. Presently three apartments, one commercial space, plus storage under 2 bedroom apt. Own a vacation home, business use in your home or just rental income.

36. 2007-01-20
    price $450,000 202-char remark

    Show marketing remark (202 chars)

    Commercial zoned river front multi-unit complex. Presently three apartments, one commercial space, plus storage under 2 bedroom apt. Own a vacation home, business use in your home or just rental income.

37. 2007-01-20
    price $450,000 202-char remark

    Show marketing remark (202 chars)

    Commercial zoned river front multi-unit complex. Presently three apartments, one commercial space, plus storage under 2 bedroom apt. Own a vacation home, business use in your home or just rental income.

38. 2007-01-09
    listed $450,000 202-char remark

    Show marketing remark (202 chars)

    Commercial zoned river front multi-unit complex. Presently three apartments, one commercial space, plus storage under 2 bedroom apt. Own a vacation home, business use in your home or just rental income.

39. 2006-07-08
    listed $450,000

ⓘ 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

• 🌡 Heat 1/10 Low
• 🫁 Air quality 7/10 Severe 11 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $71,100
• − Mortgage interest: −$29,968
• − Property taxes: −$8,025
• − Insurance: −$2,675
• − Repairs & maintenance: −$5,688
• − Management: −$5,688
• − Depreciation: −$15,564
• Taxable income: $3,492
• Est. tax owed @ 24.0%: −$838
• After-tax cash flow: $10,964/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.

Condition & rehab AI · 13 photos

Fair 45/100 Moderate rehab

This multi-family property presents as a moderate renovation opportunity with average condition. It offers a prime location along the Nestucca River, but requires updates to kitchen and bathrooms, as well as exterior and landscaping improvements to maximize its value.

Repairs flagged

• Minor Kitchen cabinets — Worn and dated appearance.
• Minor Bathroom fixtures — Standard fixtures, but could use updates.

Value-add opportunities

• Both Modernize kitchen and bathrooms — Updating these areas will significantly enhance the home's appeal and value for both resale and rental.
• Both Landscaping improvements — Aesthetic improvements will enhance curb appeal and attract potential buyers or renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn and dated appearance.	Minor	$500–3,000
Bathroom fixtures · Standard fixtures, but could use updates.	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Modernize kitchen and bathrooms — Updating these areas will significantly enhance the home's appeal and value for both resale and rental. ↑
• Both Landscaping improvements — Aesthetic improvements will enhance curb appeal and attract potential buyers or renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+18.9% since first listed

25 events — show timeline

• 2026-04-10 Listed $535,000 OCMLS
• 2025-12-13 Price Changed $170,000 OCMLS
• 2025-12-13 Price Changed $170,000 OCMLS
• 2025-12-13 Price Changed $19,950 OCMLS
• 2025-12-13 Price Changed $19,950 OCMLS
• 2021-04-28 Listed $375,000 OCMLS
• 2021-04-28 Sold (MLS) $373,000 OCMLS
• 2021-04-27 Sold (MLS) $373,000 RMLS
• 2021-03-04 Listed $373,000 RMLS
• 2016-06-17 Sold (MLS) $243,250 RMLS
• 2016-06-17 Sold (MLS) $243,250 OCMLS
• 2014-05-20 Listed $249,900 RMLS
• 2014-05-17 Listed $249,900 OCMLS
• 2012-01-15 Listed $278,000 OCMLS
• 2011-09-03 Price Changed $340,000 OCMLS
• 2011-09-03 Price Changed $340,000 OCMLS
• 2011-03-05 Listed $340,000 OCMLS
• 2007-01-22 Sold (MLS) $436,500 OCMLS
• 2007-01-22 Sold (MLS) $436,500 OCMLS
• 2007-01-22 Sold (MLS) $436,500 OCMLS
• 2007-01-22 Sold (MLS) $436,500 OCMLS
• 2007-01-20 Price Changed $450,000 OCMLS
• 2007-01-20 Price Changed $450,000 OCMLS
• 2007-01-09 Listed $450,000 OCMLS
• 2006-07-08 Listed $450,000 OCMLS