110 Driftwood Ave · Garibaldi, OR 97118

$195,000

3 bd · 1.0 ba · 1,244 sqft · SingleFamily public records · 98 Days on market

Built 1936 7,405 sqft lot $157/sqft · 33% below area ↓ 6% since listing

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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).

• Appreciation +10.0/10.0
• Cash flow +8.4/30.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• 1% rule +2.1/10.0

Listing remarks MLS

Charming Garibaldi Coastal Fixer with Bones & PotentialClassic Pacific Northwest cedar shake cottage offering the canvas for your vision, located in the quiet fishing village of Garibaldi on Oregon's North Coast. This home features original hardwood floors, a cozy wood-burning stove, and an open dining and living area filled with natural light. The enclosed sunroom provides year-round garden space and additional flex room. Two bathrooms serve the main level, with the lower daylight level offering workshop, storage, or expansion possibilities. A spacious lot. Tillamook Bay, the marina, and Highway 101 are all close at hand. Priced for the buyer ready to invest sweat equity and restore this home's classic character. Sold as-is.

Key facts

• Enclosed sunroom
• Flex room
• 7,405 sq ft lot

Tags

• ORIGINAL HARDWOOD FLOORS
• COZY WOOD BURNING STOVE
• OPEN DINING AND LIVING AREA
• ENCLOSED SUNROOM
• YEAR ROUND GARDEN SPACE
• FLEX ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $-175 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $164k (15.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $139k (28.6% below list).
• Recommended offer: $139k (28.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 73/100 on livability (#99 in OR) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A-; Watch: health & safety C-, 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: 29 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 $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Tillamook County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $45k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1936 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $139,179 (28.6% 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 98 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
3. Built in 1936 — 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. 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?
8. 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.
9. 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.
10. 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: 0.71% ✗
• Cap rate: 5.21%
• Cash-on-cash: -3.86%
• DSCR: 0.83
• GRM: 11.7

CMA / ARV

• ARV (median comp): $440,262
• List price: $195,000
• Delta: -55.71%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
204 Birch Ave	0.11mi	3/2.0	1,290 (+4%)	10mo	$300,000	$233	76
306 Evergreen Ave	0.16mi	4/2.0 (+1)	1,344 (+8%)	7mo	$415,000	$309	64

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.5%
• Equity multiple: 2.74×
• Total profit: $95,005
• Equity at exit: $175,671

10-year hold

• IRR: 19.4%
• Equity multiple: 6.28×
• Total profit: $288,514
• Equity at exit: $378,842

Cash invested: $54,600 (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 97118

• Home prices YoY: 15.7%
• Active inventory: 29
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $1,392 medium
• Mortgage (P&I): −$1,023
• Tax from tax record: −$171 /mo · $2,053/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $-175

Break-even live

Break-even rent $1,614

Max offer price $164,009

Occupancy floor —

Sensitivity live

Price	-10% $-65	-5% $-120	+0% $-175	+5% $-231	+10% $-286
Rent	-10% $-285	-5% $-230	+0% $-175	+5% $-120	+10% $-65
Rate	-1.0pp $-77	-0.5pp $-126	base $-175	+0.5pp $-226	+1.0pp $-277

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $195,000 Active 98 DOM
2. 2026-06-21
   days on market $195,000 Active 97 DOM
3. 2026-06-18
   days on market $195,000 Active 95 DOM
4. 2026-06-17
   days on market $195,000 Active 94 DOM
5. 2026-06-16
   days on market $195,000 Active 93 DOM
6. 2026-06-15
   pricedays on market $195,000 Active 92 DOM
7. 2026-06-13
   days on market $225,000 Active 90 DOM
8. 2026-06-12
   days on market $225,000 Active 89 DOM
9. 2026-06-09
   days on market $225,000 Active 86 DOM
10. 2026-06-08
    days on market $225,000 Active 85 DOM
11. 2026-06-08
    days on market $225,000 Active 84 DOM
12. 2026-06-07
    days on market $225,000 Active 83 DOM
13. 2026-06-04
    days on market $225,000 Active 80 DOM
14. 2026-06-02
    days on market $225,000 Active 79 DOM
15. 2026-06-01
    days on market $225,000 Active 78 DOM
16. 2026-05-31
    days on market $225,000 Active 77 DOM
17. 2026-05-02
    status Active 740-char remark

    Show marketing remark (740 chars)

    Charming Garibaldi Coastal Fixer with Bones & PotentialClassic Pacific Northwest cedar shake cottage offering the canvas for your vision, located in the quiet fishing village of Garibaldi on Oregon's North Coast. This home features original hardwood floors, a cozy wood-burning stove, and an open dining and living area filled with natural light. The enclosed sunroom provides year-round garden space and additional flex room. Two bathrooms serve the main level, with the lower daylight level offering workshop, storage, or expansion possibilities. A spacious lot. Tillamook Bay, the marina, and Highway 101 are all close at hand. Priced for the buyer ready to invest sweat equity and restore this home's classic character. Sold as-is.

18. 2026-05-01
    status Active 740-char remark

    Show marketing remark (740 chars)

    Charming Garibaldi Coastal Fixer with Bones & Potential Classic Pacific Northwest cedar shake cottage offering the canvas for your vision, located in the quiet fishing village of Garibaldi on Oregon's North Coast. This home features original hardwood floors, a cozy wood-burning stove, and an open dining and living area filled with natural light. The enclosed sunroom provides year-round garden space and additional flex room. Two bathrooms serve the main level, with the lower daylight level offering workshop, storage, or expansion possibilities. A spacious lot. Tillamook Bay, the marina, and Highway 101 are all close at hand. Priced for the buyer ready to invest sweat equity and restore this home's classic character. Sold as-is.

19. 2026-04-30
    status Pending 740-char remark

    Show marketing remark (740 chars)

    Charming Garibaldi Coastal Fixer with Bones & PotentialClassic Pacific Northwest cedar shake cottage offering the canvas for your vision, located in the quiet fishing village of Garibaldi on Oregon's North Coast. This home features original hardwood floors, a cozy wood-burning stove, and an open dining and living area filled with natural light. The enclosed sunroom provides year-round garden space and additional flex room. Two bathrooms serve the main level, with the lower daylight level offering workshop, storage, or expansion possibilities. A spacious lot. Tillamook Bay, the marina, and Highway 101 are all close at hand. Priced for the buyer ready to invest sweat equity and restore this home's classic character. Sold as-is.

20. 2026-04-30
    status Pending 740-char remark

    Show marketing remark (740 chars)

    Charming Garibaldi Coastal Fixer with Bones & PotentialClassic Pacific Northwest cedar shake cottage offering the canvas for your vision, located in the quiet fishing village of Garibaldi on Oregon's North Coast. This home features original hardwood floors, a cozy wood-burning stove, and an open dining and living area filled with natural light. The enclosed sunroom provides year-round garden space and additional flex room. Two bathrooms serve the main level, with the lower daylight level offering workshop, storage, or expansion possibilities. A spacious lot. Tillamook Bay, the marina, and Highway 101 are all close at hand. Priced for the buyer ready to invest sweat equity and restore this home's classic character. Sold as-is.

21. 2026-04-29
    price $225,000 740-char remark

    Show marketing remark (740 chars)

    Charming Garibaldi Coastal Fixer with Bones & PotentialClassic Pacific Northwest cedar shake cottage offering the canvas for your vision, located in the quiet fishing village of Garibaldi on Oregon's North Coast. This home features original hardwood floors, a cozy wood-burning stove, and an open dining and living area filled with natural light. The enclosed sunroom provides year-round garden space and additional flex room. Two bathrooms serve the main level, with the lower daylight level offering workshop, storage, or expansion possibilities. A spacious lot. Tillamook Bay, the marina, and Highway 101 are all close at hand. Priced for the buyer ready to invest sweat equity and restore this home's classic character. Sold as-is.

22. 2026-04-29
    price $225,000 740-char remark

    Show marketing remark (740 chars)

    Charming Garibaldi Coastal Fixer with Bones & PotentialClassic Pacific Northwest cedar shake cottage offering the canvas for your vision, located in the quiet fishing village of Garibaldi on Oregon's North Coast. This home features original hardwood floors, a cozy wood-burning stove, and an open dining and living area filled with natural light. The enclosed sunroom provides year-round garden space and additional flex room. Two bathrooms serve the main level, with the lower daylight level offering workshop, storage, or expansion possibilities. A spacious lot. Tillamook Bay, the marina, and Highway 101 are all close at hand. Priced for the buyer ready to invest sweat equity and restore this home's classic character. Sold as-is.

23. 2026-03-12
    listed $240,000 Active 740-char remark

    Show marketing remark (740 chars)

    Charming Garibaldi Coastal Fixer with Bones & Potential Classic Pacific Northwest cedar shake cottage offering the canvas for your vision, located in the quiet fishing village of Garibaldi on Oregon's North Coast. This home features original hardwood floors, a cozy wood-burning stove, and an open dining and living area filled with natural light. The enclosed sunroom provides year-round garden space and additional flex room. Two bathrooms serve the main level, with the lower daylight level offering workshop, storage, or expansion possibilities. A spacious lot. Tillamook Bay, the marina, and Highway 101 are all close at hand. Priced for the buyer ready to invest sweat equity and restore this home's classic character. Sold as-is.

24. 2026-03-12
    listed $240,000 Active 740-char remark

    Show marketing remark (740 chars)

    Charming Garibaldi Coastal Fixer with Bones & Potential Classic Pacific Northwest cedar shake cottage offering the canvas for your vision, located in the quiet fishing village of Garibaldi on Oregon's North Coast. This home features original hardwood floors, a cozy wood-burning stove, and an open dining and living area filled with natural light. The enclosed sunroom provides year-round garden space and additional flex room. Two bathrooms serve the main level, with the lower daylight level offering workshop, storage, or expansion possibilities. A spacious lot. Tillamook Bay, the marina, and Highway 101 are all close at hand. Priced for the buyer ready to invest sweat equity and restore this home's classic character. Sold as-is.

ⓘ 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: $2,053 · $171/mo
• Projected year-2 tax: $2,053 · $171/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 71% 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: $16,701
• − Mortgage interest: −$10,923
• − Property taxes: −$2,053
• − Insurance: −$975
• − Repairs & maintenance: −$1,336
• − Management: −$1,336
• − Depreciation: −$5,673
• Taxable loss: −$5,595
• Est. tax savings @ 24.0%: +$1,343
• After-tax cash flow: $-762/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 — Garibaldi

• Score: 73/100
• State rank: #99
• US rank: #5206

Category grades

Amenities F Commute A+ Cost of living B- Crime B- Employment B- Housing A- Health & safety C- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Garibaldi, OR
• City population: 769
• Population (ZIP): 769

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 (89%)
• Race & ethnicity: White 89% Two or more races 5% Hispanic / Latino 5% Native American 4% Asian 1%
• Common ancestry: Portuguese 6% Slovak 6% Italian 4%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 95% English-only · Spanish 5%

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: ▲ 45.24%
• Current HPI: 333.16
• 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

-6.2% since first listed

8 events — show timeline

• 2026-05-02 Relisted — RMLS
• 2026-05-01 Relisted — OCMLS
• 2026-04-30 Pending — OCMLS
• 2026-04-30 Pending — RMLS
• 2026-04-29 Price Changed $225,000 OCMLS
• 2026-04-29 Price Changed $225,000 RMLS
• 2026-03-12 Listed $240,000 OCMLS
• 2026-03-12 Listed $240,000 RMLS

Property tax history

+3.8%/yr

Latest (2025): $2,053 · +7.0% YoY. Source: county tax records.