Real Estate Investing in Nehalem, Oregon (97131)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 97131 (Nehalem, OR)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- High vacancy: 35.9% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 32.7 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Nehalem, OR (97131)?
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Market Analysis: 97131 Nehalem
Not every below-median market is a bargain. Nehalem's 97131 ZIP stands at signals that favor experienced operators who can absorb the risk $575K pricing implies.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $575K asset, 97131 is the wrong submarket. If the plan prices in friction, the yield can still work.
In the broader OR picture, 97131 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
The 97131 ZIP's population of 2,442 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that sits at the need for careful underwriting.
tilts toward the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Nehalem:
Property Strategy for 97131
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $599,792 | $1,320 | 1.6% | — | $599,792 |
| 2BR | $497,811 | $1,630 | 2.4% | +6.5% | $248,905 |
| 3BR | $591,135 | $2,270 | 2.8% | +8.1% | $197,045 |
| 4BR | $782,531 | $2,420 | 2.2% | +7.8% | $195,633 |
Market Trends
Home Value History (with trend line)
📊 How Does 97131 Compare?
| Metric | 97131 | Nehalem | Astoria, OR | Oregon |
|---|---|---|---|---|
| Home Value | $574,907 | $574,907 | N/A | $493,884 |
| 5-Year CAGR | 2.9% | 2.9% | N/A | 4.9% |
| Avg Rent | $1,467 | $1,467 | N/A | - |
| Cap Rate | 2.0% | 2.0% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 97131 (Nehalem, OR). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $574,907 |
| Monthly Rent | $1,467 |
| Price-to-Rent | 32.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.1% |
| Cap Rate | 2.0% |
| 5-Year IRR | 4.9% |
📈 Home Appreciation
| 1-Year | +0.4% ▲ |
| 3-Year CAGR | +0.2% ▲ |
| 5-Year CAGR | +2.9% ▲ |
| 10-Year CAGR | +7.0% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.0%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 97131
Population: 2,442
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 97131
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
Is housing expensive in Nehalem, OR?
Expect median prices around $575K in Nehalem, OR. The market has run at a 0.0% 5-year CAGR, so entry costs have been consistent.
What is the rental occupancy rate in Nehalem, OR?
Rental vacancy in Nehalem, OR is elevated. Investors should budget normal turnover but not chronic empty units.
How qualified is the tenant pool in Nehalem, OR?
Nehalem, OR draws a reliable base of working renters. Demand at the $1,467/mo rent level is reasonable for standard single-family and small multi rentals.
Does Nehalem, OR favor landlords or tenants?
For rental operators, Nehalem, OR rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
What is the typical rental rate in Nehalem, OR?
Expect rents around $1,467/mo per month in Nehalem, OR. With home values at $575K, the yield math works out to reasonable levels for rental investors.
You know 97131 now. You don’t know where it ranks.
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