913 S Easy St · Rockaway Beach, OR 97136

$410,000

3 bd · 2.0 ba · 1,447 sqft · Manufactured · 47 Days on market

Built 2018 5,227 sqft lot $283/sqft · 32% above area Est $311k · 32% over ↓ 2% since listing

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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 +9.6/10.0
• Schools +4.2/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Borders Nature Conservancy-Permanent privacy to the North. Outdoor shed on property. Sale includes all furnishings except one queen bed. Perfect hideaway at a reasonable price. All items sold ''As Is''. Sewer pump connected to mobile. Use Ticor Title.

Key facts

• Covered deck
• Large parking area
• 5,227 sq ft lot

Tags

• OUTBUILDINGS WITH LOFTS
• LARGE PARKING AREA
• LARGE COVERED RV AREA
• ABUTS NATURAL PRESERVE
• COVERED DECK

Property features AI

Finance

• Other: Property is resale; Main level living area reported as 1,447
• HOA & community: Not a senior community; No land lease

Exterior

• Parking: Covered carport; RV parking / RV & boat storage
• Utilities: Public water; Public sewer; Electric hot water; Electric fuel/power
• Home design: Manufactured home on real property (residential); Main living all on one level; Territorial view
• Construction: Built in 2018; Skirting foundation; Other foundation details
• Exterior features: Composition roof; Public road access; RV/boat storage

Interior

• Kitchen: Island; Dishwasher; Free-standing range; Microwave; Stainless steel appliances
• Bedrooms: Primary bedroom on main level with built-in features, ceiling fan and walk-in closet; Second bedroom on main level; Third bedroom on main level
• Flooring: Carpet (wall-to-wall)
• Bathrooms: 2 full bathrooms (both on main level)
• Heating & cooling: Forced-air heating; No central cooling
• Interior features: Wall-to-wall carpet; Double-pane windows with vinyl frames
• Laundry & utility: Main-level utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $410k.

Deal economics

• At list price, monthly cash flow is $2k ($28k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $410k).
• Recommended offer: $398k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.1% 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; 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 $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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $115k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($398k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $68k; list at $410k implies a 507% gain — meaningful room to come down on a strong offer.

Recommended offer $397,700 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.46% ✓
• Cap rate: 13.10%
• Cash-on-cash: 24.30%
• DSCR: 2.08
• GRM: 5.7

CMA / ARV

• ARV (median comp): $311,108
• List price: $410,000
• Delta: 31.79%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
980 S Grayling St	0.12mi	3/2.0	1,344 (-7%)	16mo	$180,000	$134	69
635 S Falcon St	0.23mi	3/2.0	1,512 (+4%)	17mo	$385,000	$255	67
1038 S Island St	0.21mi	3/2.0	1,512 (+4%)	20mo	$270,000	$179	66
605 S Easy St	0.27mi	3/2.0	1,296 (-10%)	10mo	$319,000	$246	62

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: 17.6%
• Equity multiple: 1.71×
• Total profit: $81,455
• Equity at exit: $61,132

10-year hold

• IRR: 26.0%
• Equity multiple: 3.27×
• Total profit: $260,904
• Equity at exit: $35,449

Cash invested: $114,800 (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 97136

• Home prices YoY: -34.6%
• Active inventory: 126
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $6,000 medium
• Mortgage (P&I): −$2,150
• Tax from tax record: −$94 /mo · $1,133/yr
• Insurance: −$171
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,260
• Net cashflow: $2,325

Break-even live

Break-even rent $3,057

Max offer price $410,000

Occupancy floor 56%

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: $102,500
• Closing costs: $12,300
• 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	44d	1	0.90mi

Listing history 12 events

1. 2026-06-09
   days on market $410,000 Active 47 DOM
2. 2026-06-08
   days on market $410,000 Active 46 DOM
3. 2026-06-08
   days on market $410,000 Active 45 DOM
4. 2026-06-07
   days on market $410,000 Active 44 DOM
5. 2026-06-04
   days on market $410,000 Active 41 DOM
6. 2026-06-02
   days on market $410,000 Active 40 DOM
7. 2026-06-01
   days on market $410,000 Active 39 DOM
8. 2026-05-31
   days on market $410,000 Active 38 DOM
9. 2026-04-23
   listed $410,000 Active 374-char remark
10. 2001-06-29
    soldstatus $67,500 253-char remark

    Show marketing remark (253 chars)

    Borders Nature Conservancy-Permanent privacy to the North. Outdoor shed on property. Sale includes all furnishings except one queen bed. Perfect hideaway at a reasonable price. All items sold ''As Is''. Sewer pump connected to mobile. Use Ticor Title.

11. 2001-06-29
    soldstatus $67,500

    Show marketing remark (253 chars)

    Borders Nature Conservancy-Permanent privacy to the North. Outdoor shed on property. Sale includes all furnishings except one queen bed. Perfect hideaway at a reasonable price. All items sold ''As Is''. Sewer pump connected to mobile. Use Ticor Title.

12. 2001-04-25
    listed $69,000 253-char remark

    Show marketing remark (253 chars)

    Borders Nature Conservancy-Permanent privacy to the North. Outdoor shed on property. Sale includes all furnishings except one queen bed. Perfect hideaway at a reasonable price. All items sold ''As Is''. Sewer pump connected to mobile. Use Ticor Title.

ⓘ 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: $1,133 · $94/mo
• Projected year-2 tax: $3,977 · $331/mo
• Expected delta: +$2,844/yr (+$237/mo · 251.0%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $72,000
• − Mortgage interest: −$22,966
• − Property taxes: −$1,133
• − Insurance: −$2,050
• − Repairs & maintenance: −$5,760
• − Management: −$5,760
• − Depreciation: −$11,927
• Taxable income: $22,403
• Est. tax owed @ 24.0%: −$5,377
• After-tax cash flow: $22,519/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

-2.2% since first listed

3 events — show timeline

• 2001-06-29 Sold (Public Records) $67,500 Public Records
• 2001-06-29 Sold (MLS) $67,500 OCMLS
• 2001-04-25 Listed $69,000 OCMLS

Property tax history

-1.9%/yr

Latest (2025): $1,133 · +8.6% YoY. Source: county tax records.