102 S Ocean Ave · Rockaway Beach, OR 97136

$479,000

3 bd · 1.0 ba · 840 sqft · SingleFamily public records · 65 Days on market

Built 1974 6,969 sqft lot $570/sqft · 32% above area Est $363k · 32% over

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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).

• Cash flow +19.9/30.0
• DSCR +6.3/10.0
• 1% rule +4.2/10.0
• 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

Situated on a spacious corner lot, this single level home with a detached shop is a must see! The home offers 2 beds / 1 bath and has been nicely updated with a ductless mini-split heating/cooling system for efficient year round comfort and a new roof in 2019. The 30' deep shop, built in 2020, offers an additional bathroom, separate electrical panel and plenty of additional storage for all of your beach toys, boat storage or a workshop. Tucked up off of Hwy 101 yet only a few minutes to the beach. This is a rare find in Rockaway Beach - call today to schedule a showing!

Key facts

• 30 deep shop
• Additional storage
• Corner lot

Tags

• CORNER LOT
• NEW ROOF
• 30 DEEP SHOP
• ADDITIONAL BATHROOM
• SEPARATE ELECTRICAL PANEL
• ADDITIONAL STORAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $479k.

Deal economics

• At list price, monthly cash flow is $578 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $441k (8.0% below list).
• Recommended offer: $441k (8.0% below list) — sets the bar for 1% rule.

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: 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 $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.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($450k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 25y 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 $205k; list at $479k implies a 134% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $440,804 (8.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.92% ✗
• Cap rate: 7.74%
• Cash-on-cash: 5.17%
• DSCR: 1.23
• GRM: 9.1

CMA / ARV

• ARV (median comp): $362,823
• List price: $479,000
• Delta: 32.02%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
110 S Palisade St	0.04mi	2/2.0 (-1)	893 (+6%)	8mo	$494,000	$553	72
138 N Dolphin St	0.37mi	2/1.0 (-1)	869 (+4%)	3mo	$353,000	$406	69
366 N Pacific St	0.58mi	2/1.0 (-1)	792 (-6%)	6mo	$458,500	$579	53
409 Nehalem Ave	0.35mi	2/1.0 (-1)	951 (+13%)	23mo	$390,999	$411	38

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: -8.3%
• Equity multiple: 0.69×
• Total profit: $-40,988
• Equity at exit: $71,420

10-year hold

• IRR: 1.2%
• Equity multiple: 1.08×
• Total profit: $10,969
• Equity at exit: $41,415

Cash invested: $134,120 (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: 9.1×

Monthly cashflow live

• Estimated rent: $4,408 medium
• Mortgage (P&I): −$2,512
• Tax from tax record: −$193 /mo · $2,314/yr
• Insurance: −$200
• HOA: −$0
• Vacancy / Maint / Mgmt: −$926
• Net cashflow: $578

Break-even live

Break-even rent $3,676

Max offer price $479,000

Occupancy floor 82%

Sensitivity live

Price	-10% $849	-5% $714	+0% $578	+5% $442	+10% $307
Rent	-10% $230	-5% $404	+0% $578	+5% $752	+10% $926
Rate	-1.0pp $819	-0.5pp $700	base $578	+0.5pp $454	+1.0pp $328

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: $119,750
• Closing costs: $14,370
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
406 N 3rd Ave Rockaway Beach, OR	2.0	1.0	762	$3,000	$3.94	45d	1	0.40mi
145 N Dolphin St Rockaway Beach, OR	2.0	2.0	1020	$6,000	$5.88	45d	1	0.41mi

Listing history 14 events

1. 2026-06-07
   statusdays on market $479,000 Pending 65 DOM
2. 2026-06-04
   days on market $479,000 Active 62 DOM
3. 2026-06-02
   days on market $479,000 Active 61 DOM
4. 2026-06-01
   days on market $479,000 Active 60 DOM
5. 2026-05-31
   days on market $479,000 Active 59 DOM
6. 2026-05-19
   price $479,000 576-char remark

   Show marketing remark (576 chars)

   Situated on a spacious corner lot, this single level home with a detached shop is a must see! The home offers 2 beds / 1 bath and has been nicely updated with a ductless mini-split heating/cooling system for efficient year round comfort and a new roof in 2019. The 30' deep shop, built in 2020, offers an additional bathroom, separate electrical panel and plenty of additional storage for all of your beach toys, boat storage or a workshop. Tucked up off of Hwy 101 yet only a few minutes to the beach. This is a rare find in Rockaway Beach - call today to schedule a showing!

7. 2026-05-19
   price $479,000 576-char remark

   Show marketing remark (576 chars)

   Situated on a spacious corner lot, this single level home with a detached shop is a must see! The home offers 2 beds / 1 bath and has been nicely updated with a ductless mini-split heating/cooling system for efficient year round comfort and a new roof in 2019. The 30' deep shop, built in 2020, offers an additional bathroom, separate electrical panel and plenty of additional storage for all of your beach toys, boat storage or a workshop. Tucked up off of Hwy 101 yet only a few minutes to the beach. This is a rare find in Rockaway Beach - call today to schedule a showing!

8. 2026-04-01
   listed $499,000 Active 576-char remark

   Show marketing remark (576 chars)

   Situated on a spacious corner lot, this single level home with a detached shop is a must see! The home offers 2 beds / 1 bath and has been nicely updated with a ductless mini-split heating/cooling system for efficient year round comfort and a new roof in 2019. The 30' deep shop, built in 2020, offers an additional bathroom, separate electrical panel and plenty of additional storage for all of your beach toys, boat storage or a workshop. Tucked up off of Hwy 101 yet only a few minutes to the beach. This is a rare find in Rockaway Beach - call today to schedule a showing!

9. 2026-04-01
   listed $499,000 Active 576-char remark

   Show marketing remark (576 chars)

   Situated on a spacious corner lot, this single level home with a detached shop is a must see! The home offers 2 beds / 1 bath and has been nicely updated with a ductless mini-split heating/cooling system for efficient year round comfort and a new roof in 2019. The 30' deep shop, built in 2020, offers an additional bathroom, separate electrical panel and plenty of additional storage for all of your beach toys, boat storage or a workshop. Tucked up off of Hwy 101 yet only a few minutes to the beach. This is a rare find in Rockaway Beach - call today to schedule a showing!

10. 2017-08-25
    soldstatus $205,000
11. 2017-04-13
    listed $219,900
12. 2004-04-30
    soldstatus $108,000
13. 2004-04-29
    soldstatus $108,000
14. 2001-04-03
    listed $110,000

ⓘ 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: $2,314 · $193/mo
• Projected year-2 tax: $4,646 · $387/mo
• Expected delta: +$2,332/yr (+$194/mo · 100.8%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 47% 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: $52,896
• − Mortgage interest: −$26,831
• − Property taxes: −$2,314
• − Insurance: −$2,395
• − Repairs & maintenance: −$4,232
• − Management: −$4,232
• − Depreciation: −$13,935
• Taxable loss: −$1,042
• Est. tax savings @ 24.0%: +$250
• After-tax cash flow: $7,186/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

+335.5% since first listed

9 events — show timeline

• 2026-05-19 Price Changed $479,000 RMLS
• 2026-05-19 Price Changed $479,000 OCMLS
• 2026-04-01 Listed $499,000 OCMLS
• 2026-04-01 Listed $499,000 RMLS
• 2017-08-25 Sold (MLS) $205,000 RMLS
• 2017-04-13 Listed $219,900 RMLS
• 2004-04-30 Sold (MLS) $108,000 OCMLS
• 2004-04-29 Sold (Public Records) $108,000 Public Records
• 2001-04-03 Listed $110,000 OCMLS

Property tax history

+7.3%/yr

Latest (2025): $2,314 · +8.6% YoY. Source: county tax records.