610 S Anchor St · Rockaway Beach, OR 97136

$469,900

2 bd · 1.0 ba · 1,379 sqft · SingleFamily public records · 9 Days on market

Built 1931 4,356 sqft lot $341/sqft · 6% below area Est $499k · 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 +30.0/30.0
• ARV discount +10.1/15.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• 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 MLS

Great curb appeal sets the tone from the moment you arrive, welcoming you into a home that captures the ease and comfort of coastal living. This home is being sold tastefully furnished. A spacious deck invites easy-going mornings with coffee, sunset dinners, and gathering with friends after a day strolling on the beach. Step inside to a thoughtfully designed interior where soft, ambient lighting and a cozy wood stove create a warm, relaxed atmosphere. The open-concept layout flows effortlessly between living, dining, and kitchen spaces—perfect for entertaining—while still feeling intimate and comfortable. Upgraded finishes and touches of shiplap, tile, and quartz add subtle coastal character without overwhelming the space. This home offers two generously sized bedrooms and two full bathrooms, with large closets for easy living. The primary suite feels like a private retreat, complete with a sliding glass door opens to its own deck—ideal for catching the ocean breeze and unwinding at the end of the day. Outside, a fenced yard provides privacy and room to enjoy the outdoors, whether it's gardening, pets, or simply soaking in the fresh coastal air.

Key facts

• Cozy wood stove
• Upgraded finishes
• Spacious deck

Tags

• SPACIOUS DECK
• THOUGHTFULLY DESIGNED INTERIOR
• COZY WOOD STOVE
• OPEN-CONCEPT LAYOUT
• UPGRADED FINISHES
• SLIDING GLASS DOOR

Property features AI

Finance

• Other: Lot is level with public road access; Gravel road surface; Lot approximately 0.1 acre (3,000–4,999 sq ft range); Property has a view
• HOA & community: Not a senior community; Zoning: RK-R2

Exterior

• Parking: Driveway; On-street parking
• Utilities: Public water; Public sewer; Electric service
• Home design: Single-family residence; Residential property; Resale home; Main-level living area; Mountain and trees/woods views
• Construction: Built in 1931; Composition roof; Concrete perimeter foundation; Shingle siding
• Exterior features: Yard; Shingle siding

Interior

• Kitchen: Dishwasher; Garbage disposal; Free-standing range; Free-standing refrigerator; Microwave; Range hood; Kitchen island; Pantry; Stainless steel appliances
• Bedrooms: Primary bedroom on main level; Second bedroom on main level
• Flooring: Laminate flooring; Wall-to-wall carpet
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Ceiling fans; Laminate flooring; Wall-to-wall carpet; Quartz surfaces; Laundry area; Washer and dryer included; Wood-burning fireplace (1)
• Laundry & utility: Laundry on main level; Washer and dryer included; Electric hot water

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $470k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $470k).
• Cap rate 11.3% 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: 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 $14k 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 $132k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1931 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $469,900

Questions for the listing agent

1. Built in 1931 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.28% ✓
• Cap rate: 11.26%
• Cash-on-cash: 17.73%
• DSCR: 1.79
• GRM: 6.5

CMA / ARV

• ARV (median comp): $498,645
• List price: $469,900
• Delta: -5.76%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
407 S 2nd Ave	0.50mi	2/2.0	1,327 (-4%)	6mo	$314,000	$237	61
1070 S Coral St	0.37mi	2/3.0	1,489 (+8%)	4mo	$575,000	$386	58
115 N Miller St Unit 303 I	0.62mi	2/2.0	1,320 (-4%)	3mo	$43,250	$33	58
115 N Miller St Unit 103 I	0.62mi	2/2.0	1,320 (-4%)	4mo	$32,000	$24	57
115 N Miller St #103	0.62mi	2/2.0	1,320 (-4%)	4mo	$32,000	$24	57
115 N Miller St Unit 103 Trk H	0.62mi	2/2.0	1,320 (-4%)	8mo	$29,900	$23	54
115 N Miller St #103	0.62mi	2/2.0	1,320 (-4%)	8mo	$29,900	$23	54
8465 S Hollyhock St	0.53mi	3/2.0 (+1)	1,271 (-8%)	4mo	$370,000	$291	50
123 S Ocean St	0.75mi	2/2.0	1,308 (-5%)	8mo	$407,000	$311	46
1602 S 2nd Ave	0.71mi	2/2.0	1,440 (+4%)	16mo	$400,000	$278	42
8620 S Hollyhock St	0.53mi	3/2.0 (+1)	1,262 (-8%)	13mo	$390,000	$309	42
1062 S Breaker Ave	0.41mi	3/3.0 (+1)	1,536 (+11%)	8mo	$565,000	$368	42

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: 4.0%
• Equity multiple: 1.16×
• Total profit: $20,585
• Equity at exit: $70,064

10-year hold

• IRR: 13.6%
• Equity multiple: 2.08×
• Total profit: $142,687
• Equity at exit: $40,628

Cash invested: $131,572 (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: 6.5×

Monthly cashflow live

• Estimated rent: $6,000 medium
• Mortgage (P&I): −$2,464
• Tax from tax record: −$136 /mo · $1,631/yr
• Insurance: −$196
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,260
• Net cashflow: $1,518

Break-even live

Break-even rent $4,079

Max offer price $469,900

Occupancy floor 70%

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: $117,475
• Closing costs: $14,097
• 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	43d	1	0.64mi

Listing history 4 events

1. 2026-05-11
   status Pending 1181-char remark

   Show marketing remark (1181 chars)

   Great curb appeal sets the tone from the moment you arrive, welcoming you into a home that captures the ease and comfort of coastal living. This home is being sold tastefully furnished. A spacious deck invites easy-going mornings with coffee, sunset dinners, and gathering with friends after a day strolling on the beach. Step inside to a thoughtfully designed interior where soft, ambient lighting and a cozy wood stove create a warm, relaxed atmosphere. The open-concept layout flows effortlessly between living, dining, and kitchen spaces—perfect for entertaining—while still feeling intimate and comfortable. Upgraded finishes and touches of shiplap, tile, and quartz add subtle coastal character without overwhelming the space. This home offers two generously sized bedrooms and two full bathrooms, with large closets for easy living. The primary suite feels like a private retreat, complete with a sliding glass door opens to its own deck—ideal for catching the ocean breeze and unwinding at the end of the day. Outside, a fenced yard provides privacy and room to enjoy the outdoors, whether it's gardening, pets, or simply soaking in the fresh coastal air.

2. 2026-05-10
   status Pending 1187-char remark
3. 2026-05-01
   listed $469,900 Active 1181-char remark

   Show marketing remark (1181 chars)

   Great curb appeal sets the tone from the moment you arrive, welcoming you into a home that captures the ease and comfort of coastal living. This home is being sold tastefully furnished. A spacious deck invites easy-going mornings with coffee, sunset dinners, and gathering with friends after a day strolling on the beach. Step inside to a thoughtfully designed interior where soft, ambient lighting and a cozy wood stove create a warm, relaxed atmosphere. The open-concept layout flows effortlessly between living, dining, and kitchen spaces—perfect for entertaining—while still feeling intimate and comfortable. Upgraded finishes and touches of shiplap, tile, and quartz add subtle coastal character without overwhelming the space. This home offers two generously sized bedrooms and two full bathrooms, with large closets for easy living. The primary suite feels like a private retreat, complete with a sliding glass door opens to its own deck—ideal for catching the ocean breeze and unwinding at the end of the day. Outside, a fenced yard provides privacy and room to enjoy the outdoors, whether it's gardening, pets, or simply soaking in the fresh coastal air.

4. 2026-05-01
   listed $469,900 Active 1187-char remark

   Show marketing remark (1181 chars)

   Great curb appeal sets the tone from the moment you arrive, welcoming you into a home that captures the ease and comfort of coastal living. This home is being sold tastefully furnished. A spacious deck invites easy-going mornings with coffee, sunset dinners, and gathering with friends after a day strolling on the beach. Step inside to a thoughtfully designed interior where soft, ambient lighting and a cozy wood stove create a warm, relaxed atmosphere. The open-concept layout flows effortlessly between living, dining, and kitchen spaces—perfect for entertaining—while still feeling intimate and comfortable. Upgraded finishes and touches of shiplap, tile, and quartz add subtle coastal character without overwhelming the space. This home offers two generously sized bedrooms and two full bathrooms, with large closets for easy living. The primary suite feels like a private retreat, complete with a sliding glass door opens to its own deck—ideal for catching the ocean breeze and unwinding at the end of the day. Outside, a fenced yard provides privacy and room to enjoy the outdoors, whether it's gardening, pets, or simply soaking in the fresh coastal air.

ⓘ 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: $1,631 · $136/mo
• Projected year-2 tax: $4,558 · $380/mo
• Expected delta: +$2,927/yr (+$244/mo · 179.5%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 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: −$26,322
• − Property taxes: −$1,631
• − Insurance: −$7,468
• − Repairs & maintenance: −$5,760
• − Management: −$5,760
• − Depreciation: −$13,670
• Taxable income: $11,390
• Est. tax owed @ 24.0%: −$2,733
• After-tax cash flow: $15,477/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

+0.0% since first listed

4 events — show timeline

• 2026-05-11 Pending — OCMLS
• 2026-05-10 Pending — RMLS
• 2026-05-01 Listed $469,900 RMLS
• 2026-05-01 Listed $469,900 OCMLS

Property tax history

+3.0%/yr

Latest (2025): $1,631 · +8.6% YoY. Source: county tax records.