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321 Salishan Dr
Gleneden Beach, OR

321 Salishan Dr

$675,000
2 bd • 2 ba • 1,440 sf

This analysis was generated by artificial intelligence on 2/8/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

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AI Property Analysis

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List Price

$675,000

Price/Sq.Ft

$469

Year Built

1970

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

• Oceanfront Location: The property boasts direct ocean frontage, a highly desirable feature that commands a premium in the coastal real estate market. Oceanfront properties offer unparalleled views and direct beach access. • Unique Architectural Design: The home's distinctive, free-form design and historical significance (featured in National Geographic) make it a one-of-a-kind property. This uniqueness can attract buyers seeking something different. • Proximity to Salishan Resort: The property is located in Salishan, known as one of the area's leading getaways on the Oregon Coast. This provides access to resort amenities and a desirable community. • Beamed and Vaulted Ceilings: These features add architectural interest and create a sense of spaciousness within the home. Beamed ceilings are particularly desirable in coastal properties. • Privacy: The property description mentions unique cubbies, nooks, and crannies, suggesting a layout that offers a degree of privacy and separation within the home.

The Bad

• High Price per Square Foot: At $468.75/sq ft, the property is priced significantly higher than the average for Gleneden Beach. This premium needs to be justified by the unique architectural design and oceanfront location. The median price per square foot in Lincoln County is around $350, so this property is substantially above average. • Age of the Property: Built in 1970, the home is over 50 years old. This means potential issues with outdated systems (plumbing, electrical, HVAC) and materials that may require replacement or upgrades. Older homes in coastal environments are particularly susceptible to deterioration. • Air Quality: With a severe air quality risk of 7/10 and 10 bad air days per year, this location may not be ideal for those with respiratory sensitivities. Coastal areas can experience poor air quality due to seasonal wildfires and other factors. • School Ratings: The local high school has a low rating (2/10), which could be a deterrent for families with older children. This may limit the pool of potential buyers.

The Ugly

• High Flood Risk: The property's location in FEMA Zone VE (high-risk flood zone) poses a significant threat. This requires mandatory flood insurance, which can be very expensive, and potential for property damage from flooding events. VE zones are subject to wave action during storms. • Extended Time on Market: The property has been on the market for 397 days, indicating a potential overpricing issue or other factors deterring buyers. Properties that sit on the market for extended periods can develop a negative perception. • Unconventional Layout: The description mentions slanted walls, interior ladders, and unique architectural features. While these add character, they may also create challenges for furniture placement, accessibility, and overall functionality. This could limit the appeal to a broader range of buyers. • Limited Information on Recent Updates: The property description emphasizes original features, suggesting that significant renovations or updates may not have been performed recently. This could translate to higher maintenance costs and potential need for upgrades. • Unknown Median Income: The missing median income data makes it difficult to assess the economic profile of the area and the potential buyer pool. This lack of information is a red flag and requires further investigation.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

• Buyers Seeking a Unique Architectural Property: This home's distinctive design, featured in National Geographic, will appeal to those who appreciate unconventional aesthetics and historical significance. • Individuals Desiring a Coastal Getaway: The oceanfront location in Salishan offers a relaxing escape, with easy beach access and proximity to local attractions. • Buyers Comfortable with Smaller Living Spaces: The 1,440 sq ft size is ideal for individuals or couples seeking a cozy retreat rather than a large family home. • Those Looking for a Second Home with Rental Potential: While specific rental income data isn't provided, similar properties in Gleneden Beach are popular vacation rentals, offering potential income opportunities. • Buyers Prepared for Higher Insurance Costs: Given the flood risk (FEMA Zone VE) and coastal location, prospective buyers should factor in potentially higher insurance premiums.

Not For

• Buyers Requiring Modern, Standardized Home Features: The unique, artistic design and unconventional layout may not appeal to those who prefer traditional home designs and modern amenities. • Families with Young Children or Mobility Issues: Interior ladders and unusual architectural elements may pose safety concerns for young children or individuals with mobility limitations. • Buyers Seeking a Low-Maintenance Property: The older construction (built in 1970) and coastal location suggest potential maintenance needs related to weather exposure and aging systems. • Individuals Unwilling to Accept Flood Risk: The property's location in FEMA Zone VE indicates a high risk of flooding, which may deter risk-averse buyers. • Buyers Sensitive to Air Quality: The severe air quality risk (7/10) with 10 bad air days per year may be a concern for individuals with respiratory issues.
Demographics
Area Median Income

$0

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Risk Assessment

Climate Risks

airSEVERE

10 bad air quality days per year

floodMINIMAL

FEMA Zone: VE

Insurance: Required

fireMINIMAL

Insurance: Optional

heatMINIMAL

9 extreme heat days per year

98th percentile: 73°F

windMINIMAL

Insurance: Optional

Risk Analysis

• Flood Risk and Insurance Costs: The property's location in FEMA Zone VE (high-risk flood zone) means flood insurance is critical and likely expensive. The listed insurance estimate may be insufficient. • Coastal Erosion: Being an oceanfront property, coastal erosion poses a long-term risk to the property's value and structural integrity. A coastal engineering assessment would be prudent. • Septic System: Given the age of the home (built in 1970), the septic system may be nearing the end of its lifespan. A septic system inspection is crucial. • Deferred Maintenance: The listing mentions original wood interiors and slate rock floors, suggesting the home may require updates or repairs to modernize it and address wear and tear. • Market Stigma: The long days on market (397) and multiple price reductions may create a negative perception among potential buyers, requiring strategic marketing to overcome.
Insurance
Annual Cost

$2,430

$203 per month

Financials

Monthly Costs
Market Rent (2 bed)

$0

Get a detailed rental estimate on Zillow®
HOA Fee

$179

Price History

Property Taxes

$7,211
2023 Tax Assessment
3.2%from previous year
Assessed Value$581,390
Tax Rate1.24%

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$486,667

-27.9% below list price

Median Price

$415,000

Based on 6 recent sales

Price per Sq.Ft

$366

Comparable Properties

9210 TROUT PL, Gleneden Beach, OR 97388
Price: $635,000
Sq.Ft: 1,562
Beds/Baths: 3/2
$/Sq.Ft:
$40713.3%
Sale Date: 11/20/2024
9210 Trout Place, Gleneden Beach, OR 97388
Price: $635,000
Sq.Ft: 1,562
Beds/Baths: 3/2
$/Sq.Ft:
$40713.3%
Sale Date: 11/19/2024
6521 SW HARBOR AVE, Lincoln City, OR 97367
Price: $415,000
Sq.Ft: 1,198
Beds/Baths: 2/2
$/Sq.Ft:
$34626.1%
Sale Date: 8/12/2024
6521 SW Harbor Av, Lincoln City, OR 97367
Price: $415,000
Sq.Ft: 1,198
Beds/Baths: 2/2
$/Sq.Ft:
$34626.1%
Sale Date: 8/12/2024
6521 SW Harbor Avenue, Lincoln City, OR 97367
Price: $415,000
Sq.Ft: 1,198
Beds/Baths: 2/2
$/Sq.Ft:
$34626.1%
Sale Date: 8/12/2024
6546 SW Ebb Avenue, Lincoln City, OR 97367
Price: $405,000
Sq.Ft: 1,176
Beds/Baths: 2/1
$/Sq.Ft:
$34426.5%
Sale Date: 11/8/2024

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