1146 N Marion Ave #1606GearhartOR97138
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in Gearhart at 1146 N Marion Ave #1606, Gearhart, OR, 97138 generates $1,397/mo in rent, after a $1,708/mo payment. Total monthly income is $1,397/mo. Return on cash invested sits at 12.55% in year one, and rental yield is 4.8% on a $349,000 entry. Equity gained on principal adds $2,252/yr, while 5% annual appreciation builds toward $96,422 over five years. Five-year ROI reaches 63.2% and total cumulative return in cash sums $73,116. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,397/mo property income rather than buyer’s personal income.
Condo
Built in 1972
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 97138, Seaside, OR area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,933 (100%) |
| Owner Occupied HU | 3,159 (39.8%) |
| Renter Occupied HU | 2,180 (27.5%) |
| Vacant Housing Units | 2,594 (32.7%) |
| Median Home Value | $490,174 |
| Average Home Value | $581,667 |
Housing Distribution
Address Breakdown
Residential
5,150
Single Family
4,738
Multi-Family
412
Businesses
759
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