1601 Spruce Dr · Seaside, OR 97138

$650,000

6 bd · 4.0 ba · 2,192 sqft · SingleFamily public records · 26 Days on market

Built 1996 0.31 ac lot Est $563k · 15% over

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Why this score? — see what drove the F 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 +4.0/30.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• ARV discount +0.6/15.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Prime Seaside Duplex + Portfolio Opportunity. Excellent opportunity to acquire a high-performing, cash-flowing duplex in a high-demand coastal rental market. Fully occupied with reliable in-place income and straightforward operations. Instant Scale: Looking for a larger footprint? This property is part of a larger release and can be purchased individually or seamlessly packaged with two Warrenton 4-plexes for a dominant 10-unit coastal portfolio. Drive-by only; please DO NOT DISTURB tenants under any circumstances. Interior showings will be scheduled upon an accepted offer. Note: Seller is a licensed Oregon real estate broker.

Key facts

• 0.31 acre lot
• Garage
• Built 1996

What this means for you Summary

Snapshot

• This is a 6-bed/4.0-bath single-family listed at $650k.

Deal economics

• At list price, monthly cash flow is $-2k ($-22k/yr) — negative.
• To cash-flow at today's rent, offer at most $331k (49.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $287k (55.8% below list).
• Recommended offer: $287k (55.8% below list) — sets the bar for 1% rule.
• Cap rate 3.0% vs local median 2.5% in Seaside — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 79/100 on livability (#60 in OR, #2,085 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment C-, crime D+, cost of living D+.
• Seaside SD 10 (town): math 11% / reading 41% proficiency, ranked #53 of 58 in OR (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 226 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 98 units permitted in Clatsop County in 2024 (0 in 5+ unit buildings).
• At $2,872/mo this rent would consume 57% of the median local household income ($60k/yr) (locally 573% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $69k of equity ($4k loan paydown + $65k appreciation (10.0% local appreciation)).
• By year 2, paydown + projected appreciation supports a ~$112k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($640k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y 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 $360k; list at $650k implies a 81% gain — meaningful room to come down on a strong offer.

Recommended offer $287,198 (55.8% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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?
6. 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.
7. 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.
8. 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: 0.44% ✗
• Cap rate: 2.96%
• Cash-on-cash: -11.91%
• DSCR: 0.47
• GRM: 18.9

CMA / ARV

• ARV (median comp): $563,188
• List price: $650,000
• Delta: 15.41%
• Verdict: OVERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1255 Avenue A Unit 1 and 2	0.50mi	5/3.0 (-1)	1,981 (-10%)	2mo	$641,500	$324	50

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: 15.9%
• Equity multiple: 2.31×
• Total profit: $238,788
• Equity at exit: $585,571

10-year hold

• IRR: 15.4%
• Equity multiple: 5.36×
• Total profit: $793,207
• Equity at exit: $1,262,807

Cash invested: $182,000 (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 97138

• Home prices YoY: 2.6%
• Active inventory: 226
• Price-to-rent: 18.9×

Monthly cashflow live

• Estimated rent: $2,872 medium
• Mortgage (P&I): −$3,409
• Tax from tax record: −$395 /mo · $4,741/yr
• Insurance: −$271
• HOA: −$0
• Vacancy / Maint / Mgmt: −$603
• Net cashflow: $-1,806

Break-even live

Break-even rent $5,158

Max offer price $331,016

Occupancy floor —

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: $162,500
• Closing costs: $19,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
640 S Columbia St Unit 1335290P Seaside, OR	5.0	3.0	2647	$10,453	$3.95	43d	1	0.83mi

Listing history 10 events

1. 2026-05-06
   status Pending 634-char remark

   Show marketing remark (634 chars)

   Prime Seaside Duplex + Portfolio Opportunity. Excellent opportunity to acquire a high-performing, cash-flowing duplex in a high-demand coastal rental market. Fully occupied with reliable in-place income and straightforward operations. Instant Scale: Looking for a larger footprint? This property is part of a larger release and can be purchased individually or seamlessly packaged with two Warrenton 4-plexes for a dominant 10-unit coastal portfolio. Drive-by only; please DO NOT DISTURB tenants under any circumstances. Interior showings will be scheduled upon an accepted offer. Note: Seller is a licensed Oregon real estate broker.

2. 2026-04-10
   listed $650,000 Active 634-char remark

   Show marketing remark (634 chars)

   Prime Seaside Duplex + Portfolio Opportunity. Excellent opportunity to acquire a high-performing, cash-flowing duplex in a high-demand coastal rental market. Fully occupied with reliable in-place income and straightforward operations. Instant Scale: Looking for a larger footprint? This property is part of a larger release and can be purchased individually or seamlessly packaged with two Warrenton 4-plexes for a dominant 10-unit coastal portfolio. Drive-by only; please DO NOT DISTURB tenants under any circumstances. Interior showings will be scheduled upon an accepted offer. Note: Seller is a licensed Oregon real estate broker.

3. 2018-06-21
   soldstatus $359,900
4. 2018-06-21
   soldstatus $359,900
5. 2018-01-30
   listed $359,900
6. 2016-12-02
   soldstatus $233,000
7. 2016-12-02
   soldstatus $233,000
8. 2016-12-02
   soldstatus $119,065
9. 2016-05-22
   listed $219,000
10. 2016-05-16
    listed $219,000

ⓘ 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: $4,741 · $395/mo
• Projected year-2 tax: $6,305 · $525/mo
• Expected delta: +$1,564/yr (+$130/mo · 33.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥77°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,464
• − Mortgage interest: −$36,410
• − Property taxes: −$4,741
• − Insurance: −$3,250
• − Repairs & maintenance: −$2,757
• − Management: −$2,757
• − Depreciation: −$18,909
• Taxable loss: −$34,360
• Est. tax savings @ 24.0%: +$8,246
• After-tax cash flow: $-13,422/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: Seaside SD 10
• NCES district ID: 4111100
• Math proficiency: 11% ▼ -18.00%
• Reading proficiency: 41% ▼ -4.00%
• Median HH income: $43,956
• Composite: 22.19/100
• National rank: #8159
• State rank: #53 of 58 in OR

Livability — Seaside

• Score: 79/100
• State rank: #60
• US rank: #2085

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Seaside, OR
• County: Clatsop County · 29,028 people
• Metro: Astoria, OR
• Population (ZIP): 11,035
• Household income: $60,411
• Rent vs Own: 41.7% rent · 58.3% own
• Severe rent burden: 573.0

Population outlook (Clatsop County) Hauer SSP2

• Today (2025): 39,212 people
• By 2030: 39,765 · +1.4%
• By 2040: 40,121 · +2.3%
• By 2050: 40,032 · +2.1%
• By 2075: 39,123 · -0.2%
• By 2100: 35,965 · -8.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 7% Two or more races 5% Black 1% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Lithuanian 5% Portuguese 3% Scottish 3%
• Foreign-born: 3% · Canada, China
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 1%

Political lean MEDSL · Clatsop

• 2024 margin: D (+11.4) · D 54.1% · R 42.8% · Other 3.1%
• 2008→2024 swing: -7.6pp toward R · 2008: 18.9pp · 2024: 11.4pp
• All cycles: 2024: D+11.4 2020: D+11.3 2016: D+6.1 2012: D+14.6 2008: D+18.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 26.11%
• Current HPI: 1014.65
• Rent YoY: —
• Metro: Astoria, OR
• 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

+196.8% since first listed

10 events — show timeline

• 2026-05-06 Pending — RMLS
• 2026-04-10 Listed $650,000 RMLS
• 2018-06-21 Sold (Public Records) $359,900 Public Records
• 2018-06-21 Sold (MLS) $359,900 CAR
• 2018-01-30 Listed $359,900 CAR
• 2016-12-02 Sold (Public Records) $119,065 Public Records
• 2016-12-02 Sold (MLS) $233,000 RMLS
• 2016-12-02 Sold (MLS) $233,000 CAR
• 2016-05-22 Listed $219,000 CAR
• 2016-05-16 Listed $219,000 RMLS

Property tax history

+3.5%/yr

Latest (2025): $4,741 · -0.1% YoY. Source: county tax records.