8365 Stark St · Rockaway Beach, OR 97136

$399,950

3 bd · 2.0 ba · 1,120 sqft · Manufactured public records · 304 Days on market

Built 2002 4,791 sqft lot $357/sqft · 87% above area

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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 +26.0/30.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• 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

Discover this beautifully updated 3-bedroom, 2-bathroom home in Rockaway Beach! This home features modern updates throughout, making it move-in ready and perfect for full-time living or a coastal getaway.One of the standout features is the impressive 18x30 shop/garage—fully equipped with a work table, certified wood stove, refrigerator, 220 power, and compressor—ideal for hobbies, projects, or extra storage. Fresh exterior paint and a new digital controlled water heater with vacation mode. Ample parking. Located in the charming community of Rockaway Beach, you’ll enjoy quick access to sandy beaches, dining, shopping, and all the coastal adventures this sought-after destination has to offer. Whether you’re looking for a primary home, vacation retreat, or investment opportunity, this property offers the perfect blend of comfort and function. Rare opportunity to obtain an assumable rate under 4%. Ask for details on the assumable rate.Affordability Alert: Temporary Rate Buydown Included! 4.00% interest rate available from preferred lender. **inquire for more details** Amazing Opportunity! 4.00% Interest Rate! The seller is offering a generous concession to fund a 2/1 temporary interest rate buydown for the buyer. This significant benefit could reduce your monthly mortgage payment during the first two years of ownership, providing much-needed relief and a smoother transition into homeownership! Inquire for more info on preferred lender (Subject to lender/loan program limitations.)

Key facts

• 4,791 sq ft lot
• 2 garage spots
• Built 2002

Tags

• UPDATED MANUFACTURED HOME
• IMPRESSIVE SHOP GARAGE
• QUICK ACCESS TO BEACHES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $400k.

Deal economics

• At list price, monthly cash flow is $992 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $400k).
• Recommended offer: $352k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 6.7% 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: 130 active listings in the ZIP; 2 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.

Negotiation context

• It's been on market 304 days — a 12% lower offer ($352k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 21y ago; this cycle's ask has dropped $40k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $214k; list at $400k implies a 87% gain — meaningful room to come down on a strong offer.

Recommended offer $351,956 (12.0% below list)

Questions for the listing agent

1. It's been on market 304 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.19% ✓
• Cap rate: 9.27%
• Cash-on-cash: 10.63%
• DSCR: 1.47
• GRM: 7.0

CMA / ARV

• ARV (median comp): $214,262
• List price: $399,950
• Delta: 86.66%
• Verdict: OVERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8035 Hollyhock St	0.21mi	2/2.0 (-1)	1,092 (-2%)	9mo	$245,500	$225	74
648 S Coral St	0.38mi	3/2.0	1,188 (+6%)	1mo	$172,000	$145	71

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: -0.4%
• Equity multiple: 0.99×
• Total profit: $-1,530
• Equity at exit: $59,634

10-year hold

• IRR: 9.3%
• Equity multiple: 1.72×
• Total profit: $80,348
• Equity at exit: $34,580

Cash invested: $111,986 (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: 7.0×

Monthly cashflow live

• Estimated rent: $4,755 medium
• Mortgage (P&I): −$2,097
• Tax est. 1.5%: −$500 /mo · $5,999/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$999
• Net cashflow: $992

Break-even live

Break-even rent $3,499

Max offer price $399,950

Occupancy floor 74%

Sensitivity live

Price	-10% $1,269	-5% $1,131	+0% $992	+5% $854	+10% $716
Rent	-10% $617	-5% $805	+0% $992	+5% $1,180	+10% $1,368
Rate	-1.0pp $1,194	-0.5pp $1,094	base $992	+0.5pp $889	+1.0pp $783

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: $99,988
• Closing costs: $11,998
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	45d	1	1.04mi
406 N 3rd Ave Rockaway Beach, OR	2.0	1.0	762	$3,000	$3.94	45d	1	1.10mi

Listing history 30 events

1. 2026-06-21
   days on market $399,950 Active 304 DOM
2. 2026-06-21
   days on market $399,950 Active 303 DOM
3. 2026-06-18
   days on market $399,950 Active 301 DOM
4. 2026-06-17
   days on market $399,950 Active 300 DOM
5. 2026-06-16
   days on market $399,950 Active 299 DOM
6. 2026-06-15
   days on market $399,950 Active 298 DOM
7. 2026-06-13
   days on market $399,950 Active 296 DOM
8. 2026-06-12
   days on market $399,950 Active 295 DOM
9. 2026-06-09
   days on market $399,950 Active 292 DOM
10. 2026-06-08
    days on market $399,950 Active 291 DOM
11. 2026-06-08
    days on market $399,950 Active 290 DOM
12. 2026-06-07
    days on market $399,950 Active 289 DOM
13. 2026-06-04
    days on market $399,950 Active 286 DOM
14. 2026-06-02
    days on market $399,950 Active 285 DOM
15. 2026-06-01
    days on market $399,950 Active 284 DOM
16. 2026-05-31
    days on market $399,950 Active 283 DOM
17. 2026-05-13
    price $399,950 1528-char remark

    Show marketing remark (1528 chars)

    Discover this beautifully updated 3-bedroom, 2-bathroom home in Rockaway Beach! This home features modern updates throughout, making it move-in ready and perfect for full-time living or a coastal getaway.One of the standout features is the impressive 18x30 shop/garage—fully equipped with a work table, certified wood stove, refrigerator, 220 power, and compressor—ideal for hobbies, projects, or extra storage. Fresh exterior paint and a new digital controlled water heater with vacation mode. Ample parking. Located in the charming community of Rockaway Beach, you’ll enjoy quick access to sandy beaches, dining, shopping, and all the coastal adventures this sought-after destination has to offer. Whether you’re looking for a primary home, vacation retreat, or investment opportunity, this property offers the perfect blend of comfort and function. Rare opportunity to obtain an assumable rate under 4%. Ask for details on the assumable rate.Affordability Alert: Temporary Rate Buydown Included! 4.00% interest rate available from preferred lender. **inquire for more details** Amazing Opportunity! 4.00% Interest Rate! The seller is offering a generous concession to fund a 2/1 temporary interest rate buydown for the buyer. This significant benefit could reduce your monthly mortgage payment during the first two years of ownership, providing much-needed relief and a smoother transition into homeownership! Inquire for more info on preferred lender (Subject to lender/loan program limitations.)

18. 2026-02-18
    price $417,500 1528-char remark

    Show marketing remark (1528 chars)

    Discover this beautifully updated 3-bedroom, 2-bathroom home in Rockaway Beach! This home features modern updates throughout, making it move-in ready and perfect for full-time living or a coastal getaway.One of the standout features is the impressive 18x30 shop/garage—fully equipped with a work table, certified wood stove, refrigerator, 220 power, and compressor—ideal for hobbies, projects, or extra storage. Fresh exterior paint and a new digital controlled water heater with vacation mode. Ample parking. Located in the charming community of Rockaway Beach, you’ll enjoy quick access to sandy beaches, dining, shopping, and all the coastal adventures this sought-after destination has to offer. Whether you’re looking for a primary home, vacation retreat, or investment opportunity, this property offers the perfect blend of comfort and function. Rare opportunity to obtain an assumable rate under 4%. Ask for details on the assumable rate.Affordability Alert: Temporary Rate Buydown Included! 4.00% interest rate available from preferred lender. **inquire for more details** Amazing Opportunity! 4.00% Interest Rate! The seller is offering a generous concession to fund a 2/1 temporary interest rate buydown for the buyer. This significant benefit could reduce your monthly mortgage payment during the first two years of ownership, providing much-needed relief and a smoother transition into homeownership! Inquire for more info on preferred lender (Subject to lender/loan program limitations.)

19. 2025-09-18
    price $419,900 1528-char remark

    Show marketing remark (1528 chars)

    Discover this beautifully updated 3-bedroom, 2-bathroom home in Rockaway Beach! This home features modern updates throughout, making it move-in ready and perfect for full-time living or a coastal getaway.One of the standout features is the impressive 18x30 shop/garage—fully equipped with a work table, certified wood stove, refrigerator, 220 power, and compressor—ideal for hobbies, projects, or extra storage. Fresh exterior paint and a new digital controlled water heater with vacation mode. Ample parking. Located in the charming community of Rockaway Beach, you’ll enjoy quick access to sandy beaches, dining, shopping, and all the coastal adventures this sought-after destination has to offer. Whether you’re looking for a primary home, vacation retreat, or investment opportunity, this property offers the perfect blend of comfort and function. Rare opportunity to obtain an assumable rate under 4%. Ask for details on the assumable rate.Affordability Alert: Temporary Rate Buydown Included! 4.00% interest rate available from preferred lender. **inquire for more details** Amazing Opportunity! 4.00% Interest Rate! The seller is offering a generous concession to fund a 2/1 temporary interest rate buydown for the buyer. This significant benefit could reduce your monthly mortgage payment during the first two years of ownership, providing much-needed relief and a smoother transition into homeownership! Inquire for more info on preferred lender (Subject to lender/loan program limitations.)

20. 2025-08-21
    listed $439,900 Active 1528-char remark

    Show marketing remark (1528 chars)

    Discover this beautifully updated 3-bedroom, 2-bathroom home in Rockaway Beach! This home features modern updates throughout, making it move-in ready and perfect for full-time living or a coastal getaway.One of the standout features is the impressive 18x30 shop/garage—fully equipped with a work table, certified wood stove, refrigerator, 220 power, and compressor—ideal for hobbies, projects, or extra storage. Fresh exterior paint and a new digital controlled water heater with vacation mode. Ample parking. Located in the charming community of Rockaway Beach, you’ll enjoy quick access to sandy beaches, dining, shopping, and all the coastal adventures this sought-after destination has to offer. Whether you’re looking for a primary home, vacation retreat, or investment opportunity, this property offers the perfect blend of comfort and function. Rare opportunity to obtain an assumable rate under 4%. Ask for details on the assumable rate.Affordability Alert: Temporary Rate Buydown Included! 4.00% interest rate available from preferred lender. **inquire for more details** Amazing Opportunity! 4.00% Interest Rate! The seller is offering a generous concession to fund a 2/1 temporary interest rate buydown for the buyer. This significant benefit could reduce your monthly mortgage payment during the first two years of ownership, providing much-needed relief and a smoother transition into homeownership! Inquire for more info on preferred lender (Subject to lender/loan program limitations.)

21. 2019-11-22
    soldstatus $214,200 356-char remark

    Show marketing remark (356 chars)

    Perfect location in Rockaway Beach for your vacation or full-time home. Open kitchen-dining-living area, laminate floors, 1 carpeted bedroom, master bdrm with private bath, small 3rd room used as bedroom or office. Tidy, fully fenced yard, 18x30 shop/garage with work table, certified wood stove, refrigerator, 220, and compressor, ready for your projects.

22. 2019-11-22
    soldstatus $214,200

    Show marketing remark (356 chars)

    Perfect location in Rockaway Beach for your vacation or full-time home. Open kitchen-dining-living area, laminate floors, 1 carpeted bedroom, master bdrm with private bath, small 3rd room used as bedroom or office. Tidy, fully fenced yard, 18x30 shop/garage with work table, certified wood stove, refrigerator, 220, and compressor, ready for your projects.

23. 2019-11-22
    soldstatus $214,200

    Show marketing remark (356 chars)

    Perfect location in Rockaway Beach for your vacation or full-time home. Open kitchen-dining-living area, laminate floors, 1 carpeted bedroom, master bdrm with private bath, small 3rd room used as bedroom or office. Tidy, fully fenced yard, 18x30 shop/garage with work table, certified wood stove, refrigerator, 220, and compressor, ready for your projects.

24. 2019-08-01
    listed $219,000 356-char remark

    Show marketing remark (356 chars)

    Perfect location in Rockaway Beach for your vacation or full-time home. Open kitchen-dining-living area, laminate floors, 1 carpeted bedroom, master bdrm with private bath, small 3rd room used as bedroom or office. Tidy, fully fenced yard, 18x30 shop/garage with work table, certified wood stove, refrigerator, 220, and compressor, ready for your projects.

25. 2019-08-01
    listed $219,000

    Show marketing remark (356 chars)

    Perfect location in Rockaway Beach for your vacation or full-time home. Open kitchen-dining-living area, laminate floors, 1 carpeted bedroom, master bdrm with private bath, small 3rd room used as bedroom or office. Tidy, fully fenced yard, 18x30 shop/garage with work table, certified wood stove, refrigerator, 220, and compressor, ready for your projects.

26. 2019-08-01
    listed $219,000

    Show marketing remark (356 chars)

    Perfect location in Rockaway Beach for your vacation or full-time home. Open kitchen-dining-living area, laminate floors, 1 carpeted bedroom, master bdrm with private bath, small 3rd room used as bedroom or office. Tidy, fully fenced yard, 18x30 shop/garage with work table, certified wood stove, refrigerator, 220, and compressor, ready for your projects.

27. 2007-12-18
    soldstatus $149,900
28. 2007-08-19
    listed $149,900
29. 2006-03-31
    soldstatus $133,000
30. 2005-09-08
    listed $133,000

ⓘ 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

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% 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: $57,059
• − Mortgage interest: −$22,403
• − Property taxes: −$5,999
• − Insurance: −$2,000
• − Repairs & maintenance: −$4,565
• − Management: −$4,565
• − Depreciation: −$11,635
• Taxable income: $5,892
• Est. tax owed @ 24.0%: −$1,414
• After-tax cash flow: $10,495/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

• 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

+200.7% since first listed

14 events — show timeline

• 2026-05-13 Price Changed $399,950 RMLS
• 2026-02-18 Price Changed $417,500 RMLS
• 2025-09-18 Price Changed $419,900 RMLS
• 2025-08-21 Listed $439,900 RMLS
• 2019-11-22 Sold (MLS) $214,200 RMLS
• 2019-11-22 Sold (MLS) $214,200 CAR
• 2019-11-22 Sold (MLS) $214,200 OCMLS
• 2019-08-01 Listed $219,000 RMLS
• 2019-08-01 Listed $219,000 CAR
• 2019-08-01 Listed $219,000 OCMLS
• 2007-12-18 Sold (MLS) $149,900 RMLS
• 2007-08-19 Listed $149,900 RMLS
• 2006-03-31 Sold (MLS) $133,000 RMLS
• 2005-09-08 Listed $133,000 RMLS