460 10th Ave · Seaside, OR 97138

$375,000

3 bd · 1.0 ba · 1,491 sqft · SingleFamily public records · 14 Days on market

Built 1904 Est $523k · 28% under

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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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +9.4/30.0
• Livability +4.0/5.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Schools +2.2/10.0

Listing remarks

Zoned R3 High density residential, this property boasts an investment opportunity for multi- housing located next to City owned property and park with Necanicum River views, a short distance to the beach and downtown shopping. Priced to sell!

Key facts

• Multi housing
• Garage
• Built 1904

Tags

• INVESTMENT OPPORTUNITY
• MULTI HOUSING
• NECANICUM RIVER VIEWS
• SHORT DISTANCE TO BEACH

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $375k.

Deal economics

• At list price, monthly cash flow is $-266 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $328k (12.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $276k (26.5% below list).
• Recommended offer: $276k (26.5% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 2.5% in Seaside — 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 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.
• Zoned schools: Seaside Middle School (math 8% / reading 37%, grade F, #118 of 128 statewide, top 92%, 392 students, 0% FRL); Seaside High School (math 24% / reading 54%, grade F, #78 of 143 statewide, top 58%, 453 students, 56% FRL) — zoned schools average 28% FRL vs 51% district-wide (23 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 229 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 98 units permitted in Clatsop County in 2024 (0 in 5+ unit buildings).
• At $2,758/mo this rent would consume 55% 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 $40k of equity ($3k loan paydown + $38k appreciation (10.0% local appreciation)).
• By year 2, paydown + projected appreciation supports a ~$64k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1904 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $275,787 (26.5% 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. Built in 1904 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.74% ✗
• Cap rate: 5.44%
• Cash-on-cash: -3.04%
• DSCR: 0.86
• GRM: 11.3

CMA / ARV

• ARV (on-the-fly): $523,341
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
739 11th Ave	0.20mi	3/2.0	1,478 (-1%)	6mo	$429,500	$291	80
251 10th Ave	0.10mi	3/2.0	1,392 (-7%)	0mo	$489,000	$351	80
727 12th Ave	0.21mi	4/2.0 (+1)	1,550 (+4%)	0mo	$480,000	$310	74
260 9th Ave	0.13mi	3/2.0	1,372 (-8%)	8mo	$582,000	$424	70
835 N Holladay Dr	0.16mi	2/1.0 (-1)	1,381 (-7%)	6mo	$350,000	$253	70
804 N Prom	0.23mi	4/2.0 (+1)	1,440 (-3%)	8mo	$850,000	$590	68
810 16th Ave	0.41mi	2/2.0 (-1)	1,548 (+4%)	4mo	$535,000	$346	62
830 2nd Ave	0.38mi	3/2.0	1,332 (-11%)	1mo	$285,000	$214	60
135 6th Ave	0.27mi	4/3.0 (+1)	1,606 (+8%)	4mo	$1,026,000	$639	58
761 13th Ave	0.25mi	4/2.0 (+1)	1,671 (+12%)	8mo	$539,000	$323	52
830 17th Ave	0.47mi	3/2.0	1,294 (-13%)	1mo	$509,000	$393	51
623 Indian Way	0.75mi	3/2.0	1,408 (-6%)	7mo	$525,000	$373	46

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: 22.1%
• Equity multiple: 2.78×
• Total profit: $187,244
• Equity at exit: $337,830

10-year hold

• IRR: 19.9%
• Equity multiple: 6.38×
• Total profit: $564,629
• Equity at exit: $728,543

Cash invested: $105,000 (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: 229
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $2,758 high
• Mortgage (P&I): −$1,967
• Tax from tax record: −$322 /mo · $3,863/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$579
• Net cashflow: $-266

Break-even live

Break-even rent $3,095

Max offer price $328,008

Occupancy floor —

Sensitivity live

Price	-10% $-54	-5% $-160	+0% $-266	+5% $-372	+10% $-478
Rent	-10% $-484	-5% $-375	+0% $-266	+5% $-157	+10% $-48
Rate	-1.0pp $-77	-0.5pp $-171	base $-266	+0.5pp $-363	+1.0pp $-462

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
717 10th Ave Seaside, OR	3.0	1.0	1562	$2,250	$1.44	45d	1	0.21mi
1020 2nd Ave Seaside, OR	3.0	2.5	1601	$6,100	$3.81	45d	1	0.46mi
849 1st Ave Seaside, OR	3.0	1.5	1584	$2,900	$1.83	45d	1	0.48mi
2330 Cross Creek St Seaside, OR	2.0	2.0	890	$1,895	$2.13	45d	1	0.75mi
1624 S Columbia St Unit 2 Seaside, OR	2.0	1.0	900	$1,595	$1.77	45d	1	1.21mi
1350 Alder Dr Unit A Seaside, OR	2.0	1.0	900	$1,950	$2.17	45d	1	1.27mi
2160 Lewis and Clark Rd Seaside, OR	1.0–2.0	1.0–2.0	814	$1,695	$2.08	45d	3	1.34mi

Listing history 2 events

1. 2026-04-17
   status Pending
2. 2026-04-03
   listed $375,000 Active

ⓘ 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: $3,863 · $322/mo
• Projected year-2 tax: $3,863 · $322/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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 8 d/yr ≥77°F today · 17 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: $33,094
• − Mortgage interest: −$21,006
• − Property taxes: −$3,863
• − Insurance: −$1,875
• − Repairs & maintenance: −$2,648
• − Management: −$2,648
• − Depreciation: −$10,909
• Taxable loss: −$9,854
• Est. tax savings @ 24.0%: +$2,365
• After-tax cash flow: $-827/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

2 events — show timeline

• 2026-04-17 Pending — CAR
• 2026-04-03 Listed $375,000 CAR

Property tax history

+3.5%/yr

Latest (2025): $3,863 · -0.1% YoY. Source: county tax records.