1202 N 1st Ave · Rockaway Beach, OR 97136

$449,000

3 bd · 2.0 ba · 1,248 sqft · SingleFamily public records · 75 Days on market

Built 2000 4,791 sqft lot $360/sqft · at area comps Est $436k · at est.

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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 +24.8/30.0
• DSCR +8.0/10.0
• ARV discount +6.2/15.0
• 1% rule +5.4/10.0
• 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

Located in the heart of Rockaway Beach! Nice single-level home with vaulted ceilings—roomy, kitchen/dining area for gatherings. Enjoy the covered backyard patio with a fenced yard. Great for barbecues and sheltered from the wind. There's a nice dog run located on the east side of the house & a converted office space off the garage, adding privacy for remote workers! Nicely landscaped and ready as your getaway, secondary, or primary residence at the beach. Located out of the flood zone. Newer roof with a warranty.

Key facts

• Landscaped
• Fenced yard
• Newer roof

Tags

• COVERED BACKYARD PATIO
• FENCED YARD
• DOG RUN
• CONVERTED OFFICE SPACE
• LANDSCAPED
• NEWER ROOF

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $449k.

Deal economics

• At list price, monthly cash flow is $952 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $449k).
• Recommended offer: $422k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 6.6% 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: 126 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 $13k 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 75 days — a 6% lower offer ($422k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 26y 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 $365k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $422,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% 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: 1.04% ✓
• Cap rate: 8.84%
• Cash-on-cash: 9.09%
• DSCR: 1.40
• GRM: 8.0

CMA / ARV

• ARV (median comp): $436,399
• List price: $449,000
• Delta: 2.89%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
123 S Ocean St	0.09mi	2/2.0 (-1)	1,308 (+5%)	8mo	$407,000	$311	76
407 S 2nd Ave	0.31mi	2/2.0 (-1)	1,327 (+6%)	6mo	$314,000	$237	65
250 N Harbor St	0.14mi	2/2.0 (-1)	1,093 (-12%)	4mo	$455,000	$416	64
247 S Dolphin St	0.37mi	4/1.0 (+1)	1,272 (+2%)	9mo	$349,000	$274	63
101 S Quadrant St	0.14mi	3/3.0	1,410 (+13%)	6mo	$435,000	$309	63
243 S Grayling St	0.29mi	3/2.0	1,067 (-14%)	0mo	$499,000	$468	62
115 N Miller St Unit 303 I	0.46mi	2/2.0 (-1)	1,320 (+6%)	3mo	$43,250	$33	62
115 N Miller St #103	0.46mi	2/2.0 (-1)	1,320 (+6%)	4mo	$32,000	$24	61
115 N Miller St Unit 103 I	0.46mi	2/2.0 (-1)	1,320 (+6%)	4mo	$32,000	$24	61
115 N Miller St #103	0.46mi	2/2.0 (-1)	1,320 (+6%)	8mo	$29,900	$23	58
115 N Miller St Unit 103 Trk H	0.46mi	2/2.0 (-1)	1,320 (+6%)	8mo	$29,900	$23	58
711 N 6th St	0.44mi	2/2.0 (-1)	1,128 (-10%)	3mo	$700,000	$621	56

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: -2.6%
• Equity multiple: 0.90×
• Total profit: $-12,269
• Equity at exit: $66,947

10-year hold

• IRR: 7.1%
• Equity multiple: 1.53×
• Total profit: $66,779
• Equity at exit: $38,821

Cash invested: $125,720 (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: 126
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $4,671 medium
• Mortgage (P&I): −$2,355
• Tax from tax record: −$196 /mo · $2,354/yr
• Insurance: −$187
• HOA: −$0
• Vacancy / Maint / Mgmt: −$981
• Net cashflow: $952

Break-even live

Break-even rent $3,466

Max offer price $449,000

Occupancy floor 75%

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: $112,250
• Closing costs: $13,470
• 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	43d	1	0.29mi
145 N Dolphin St Rockaway Beach, OR	2.0	2.0	1020	$6,000	$5.88	43d	1	0.31mi

Listing history 27 events

1. 2026-06-18
   days on market $449,000 Active 75 DOM
2. 2026-06-17
   days on market $449,000 Active 74 DOM
3. 2026-06-16
   days on market $449,000 Active 73 DOM
4. 2026-06-15
   days on market $449,000 Active 72 DOM
5. 2026-06-13
   days on market $449,000 Active 70 DOM
6. 2026-06-12
   days on market $449,000 Active 69 DOM
7. 2026-06-09
   days on market $449,000 Active 66 DOM
8. 2026-06-08
   days on market $449,000 Active 65 DOM
9. 2026-06-08
   days on market $449,000 Active 64 DOM
10. 2026-06-07
    days on market $449,000 Active 63 DOM
11. 2026-06-04
    days on market $449,000 Active 60 DOM
12. 2026-06-02
    days on market $449,000 Active 59 DOM
13. 2026-06-01
    days on market $449,000 Active 58 DOM
14. 2026-05-31
    days on market $449,000 Active 57 DOM
15. 2026-04-04
    listed $449,000 Active 528-char remark

    Show marketing remark (528 chars)

    Located in the heart of Rockaway Beach! Nice single-level home with vaulted ceilings—roomy, kitchen/dining area for gatherings. Enjoy the covered backyard patio with a fenced yard. Great for barbecues and sheltered from the wind. There's a nice dog run located on the east side of the house & a converted office space off the garage, adding privacy for remote workers! Nicely landscaped and ready as your getaway, secondary, or primary residence at the beach. Located out of the flood zone. Newer roof with a warranty.

16. 2026-04-03
    listed $449,000 Active 528-char remark

    Show marketing remark (528 chars)

    Located in the heart of Rockaway Beach! Nice single-level home with vaulted ceilings—roomy, kitchen/dining area for gatherings. Enjoy the covered backyard patio with a fenced yard. Great for barbecues and sheltered from the wind. There's a nice dog run located on the east side of the house & a converted office space off the garage, adding privacy for remote workers! Nicely landscaped and ready as your getaway, secondary, or primary residence at the beach. Located out of the flood zone. Newer roof with a warranty.

17. 2022-02-25
    price $435,000
18. 2022-02-07
    listed $150,000
19. 2021-03-29
    soldstatus $365,000
20. 2021-03-29
    soldstatus $365,000
21. 2021-02-27
    listed $349,900
22. 2013-12-30
    soldstatus $165,000
23. 2013-12-30
    soldstatus $165,000
24. 2013-06-02
    listed $179,900
25. 2001-02-15
    soldstatus $130,000
26. 2001-02-15
    soldstatus $130,000
27. 2000-09-25
    listed $130,000

ⓘ 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: $2,354 · $196/mo
• Projected year-2 tax: $4,355 · $363/mo
• Expected delta: +$2,002/yr (+$167/mo · 85.1%)

ⓘ 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) · 69% 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: $56,050
• − Mortgage interest: −$25,151
• − Property taxes: −$2,354
• − Insurance: −$2,245
• − Repairs & maintenance: −$4,484
• − Management: −$4,484
• − Depreciation: −$13,062
• Taxable income: $4,271
• Est. tax owed @ 24.0%: −$1,025
• After-tax cash flow: $10,401/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

+245.4% since first listed

13 events — show timeline

• 2026-04-04 Listed $449,000 RMLS
• 2026-04-03 Listed $449,000 OCMLS
• 2022-02-25 Price Changed $435,000 OCMLS
• 2022-02-07 Listed $150,000 OCMLS
• 2021-03-29 Sold (Public Records) $365,000 Public Records
• 2021-03-29 Sold (MLS) $365,000 RMLS
• 2021-02-27 Listed $349,900 RMLS
• 2013-12-30 Sold (Public Records) $165,000 Public Records
• 2013-12-30 Sold (MLS) $165,000 RMLS
• 2013-06-02 Listed $179,900 RMLS
• 2001-02-15 Sold (Public Records) $130,000 Public Records
• 2001-02-15 Sold (MLS) $130,000 OCMLS
• 2000-09-25 Listed $130,000 OCMLS

Property tax history

+3.0%/yr

Latest (2025): $2,354 · +8.6% YoY. Source: county tax records.