316 N Highway 101 · Rockaway Beach, OR 97136

$389,000

4 bd · 2.0 ba · 2,496 sqft · SingleFamily · 129 Days on market

Built 1942 7,405 sqft lot $156/sqft · 44% below area Est $690k · 44% under

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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
• Cash flow +9.9/30.0
• Schools +4.2/10.0
• Livability +3.7/5.0
• 1% rule +2.9/10.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

PRIME COMMERCIAL BUILDING WITH RESIDENTIAL UNIT and ample parking, features light and bright open floor plan with beautiful bay windows, large commercial space or spaces, NEW Malarkey roof with gutters and downspouts accompanied with 25 year warranty. New LED lighting throughout the entire building and a refreshed interior. READY FOR YOUR NEW BUISINESS or BUSINESSESS! A separate, private one bedroom one bath residential unit is perfect for a live-work situation or rent it out for income, has it's own entrance and driveway, all brand new high end appliances, farm sink and new flooring. GREAT location in heart of bustling and growing Rockaway Beach. Walk to Ocean and downtown to the historic Wayside for train rides, fun, food and festivals. No HOA & No CC&Rs

Key facts

• Ample paved parking
• 7,405 sq ft lot
• 8 garage spots

Tags

• ONE BLOCK FROM THE OCEAN
• THREE SEPARATE ELECTRIC METERS
• AMPLE PAVED PARKING

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $389k.

Deal economics

• At list price, monthly cash flow is $-246 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $353k (9.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $309k (20.5% below list).
• Recommended offer: $309k (20.5% below list) — sets the bar for 1% rule.

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: Nehalem Elementary School (math 30% / reading 50%, grade F, #169 of 412 statewide, top 44%, 165 students, 38% 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; 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 $12k 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.

Negotiation context

• It's been on market 129 days — a 12% lower offer ($342k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y ago; this cycle's ask is 8% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $330k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $309,211 (20.5% 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 129 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Built in 1942 — 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. 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: 0.79% ✗
• Cap rate: 5.54%
• Cash-on-cash: -2.71%
• DSCR: 0.88
• GRM: 10.5

CMA / ARV

• ARV (median comp): $689,677
• List price: $389,000
• Delta: -43.60%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
342 N Pacific St	0.07mi	4/3.0	2,146 (-14%)	2mo	$780,000	$363	68
560 N Pacific St	0.23mi	4/2.0	2,536 (+2%)	23mo	$900,000	$355	67
229 S Pacific St	0.35mi	5/3.0 (+1)	2,286 (-8%)	3mo	$700,000	$306	58
402 Northslope Way	0.60mi	3/3.0 (-1)	2,249 (-10%)	12mo	$997,500	$444	36
461 Home Ct	0.65mi	3/3.0 (-1)	2,250 (-10%)	10mo	$805,000	$358	36
318 S Quadrant St	0.70mi	3/3.0 (-1)	2,160 (-14%)	22mo	$529,500	$245	18

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: -20.8%
• Equity multiple: 0.28×
• Total profit: $-78,626
• Equity at exit: $58,001

10-year hold

• IRR: -14.1%
• Equity multiple: 0.19×
• Total profit: $-88,412
• Equity at exit: $33,634

Cash invested: $108,920 (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: 10.5×

Monthly cashflow live

• Estimated rent: $3,092 medium
• Mortgage (P&I): −$2,040
• Tax est. 1.5%: −$486 /mo · $5,835/yr
• Insurance: −$162
• HOA: −$0
• Vacancy / Maint / Mgmt: −$649
• Net cashflow: $-246

Break-even live

Break-even rent $3,403

Max offer price $353,472

Occupancy floor —

Sensitivity live

Price	-10% $23	-5% $-111	+0% $-246	+5% $-380	+10% $-514
Rent	-10% $-490	-5% $-368	+0% $-246	+5% $-123	+10% $-1
Rate	-1.0pp $-50	-0.5pp $-147	base $-246	+0.5pp $-346	+1.0pp $-449

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: $97,250
• Closing costs: $11,670
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-03
   status $389,000 Pending 129 DOM
2. 2026-06-02
   days on market $389,000 Active 129 DOM
3. 2026-06-01
   days on market $389,000 Active 128 DOM
4. 2026-05-31
   days on market $389,000 Active 127 DOM
5. 2026-03-09
   price $389,000 774-char remark

   Show marketing remark (774 chars)

   PRIME COMMERCIAL BUILDING WITH RESIDENTIAL UNIT and ample parking, features light and bright open floor plan with beautiful bay windows, large commercial space or spaces, NEW Malarkey roof with gutters and downspouts accompanied with 25 year warranty. New LED lighting throughout the entire building and a refreshed interior. READY FOR YOUR NEW BUISINESS or BUSINESSESS! A separate, private one bedroom one bath residential unit is perfect for a live-work situation or rent it out for income, has it's own entrance and driveway, all brand new high end appliances, farm sink and new flooring. GREAT location in heart of bustling and growing Rockaway Beach. Walk to Ocean and downtown to the historic Wayside for train rides, fun, food and festivals. No HOA & No CC&Rs

6. 2026-01-24
   listed $359,000 Active 774-char remark

   Show marketing remark (774 chars)

   PRIME COMMERCIAL BUILDING WITH RESIDENTIAL UNIT and ample parking, features light and bright open floor plan with beautiful bay windows, large commercial space or spaces, NEW Malarkey roof with gutters and downspouts accompanied with 25 year warranty. New LED lighting throughout the entire building and a refreshed interior. READY FOR YOUR NEW BUISINESS or BUSINESSESS! A separate, private one bedroom one bath residential unit is perfect for a live-work situation or rent it out for income, has it's own entrance and driveway, all brand new high end appliances, farm sink and new flooring. GREAT location in heart of bustling and growing Rockaway Beach. Walk to Ocean and downtown to the historic Wayside for train rides, fun, food and festivals. No HOA & No CC&Rs

7. 2025-12-13
   price $325,000
8. 2025-07-11
   soldstatus $330,000 Closed
9. 2025-07-03
   status Pending
10. 2025-06-12
    status Active
11. 2025-05-30
    price $375,000
12. 2025-04-09
    price $389,000
13. 2024-06-10
    listed $425,000 Active
14. 2023-12-29
    price $439,000
15. 2023-12-29
    price $439,000
16. 2023-10-14
    price $325,000
17. 2023-10-03
    status Active
18. 2023-03-31
    listed $345,000 Active

ⓘ 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 6/10 Major 8 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,105
• − Mortgage interest: −$21,790
• − Property taxes: −$5,835
• − Insurance: −$1,945
• − Repairs & maintenance: −$2,968
• − Management: −$2,968
• − Depreciation: −$11,316
• Taxable loss: −$9,718
• Est. tax savings @ 24.0%: +$2,332
• After-tax cash flow: $-614/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

+12.8% since first listed

14 events — show timeline

• 2026-03-09 Price Changed $389,000 RMLS
• 2026-01-24 Listed $359,000 RMLS
• 2025-12-13 Price Changed $325,000 OCMLS
• 2025-07-11 Sold (MLS) $330,000 RMLS
• 2025-07-03 Pending — RMLS
• 2025-06-12 Relisted — RMLS
• 2025-05-30 Price Changed $375,000 RMLS
• 2025-04-09 Price Changed $389,000 RMLS
• 2024-06-10 Listed $425,000 RMLS
• 2023-12-29 Price Changed $439,000 OCMLS
• 2023-12-29 Price Changed $439,000 OCMLS
• 2023-10-14 Price Changed $325,000 OCMLS
• 2023-10-03 Relisted — OCMLS
• 2023-03-31 Listed $345,000 OCMLS