Score
0Newport, OR
522 NW 56th St
649K
3 beds
2 baths
2,336 sqft
3 bd • 2 ba • 2,336 sf
This analysis was generated on 2/10/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
AI Property Analysis
0:000:00 / 0:00
List Price
$649,000
Price/Sq.Ft
$278
Year Built
1981
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
• Oceanfront Location with Stunning Views: The property boasts an "amazing OCEANVIEW" and is located in the desirable Agate Beach area. Oceanfront properties command a premium due to their unparalleled views and direct beach access.
• Extensive Remodel: The property has undergone a complete remodel with over $400,000 invested, including a new roof, windows, siding, flooring, kitchen, and bathrooms. This suggests minimal immediate maintenance costs and a modern, updated living space.
• Sold Fully Furnished: The property is sold completely furnished, making it move-in ready and ideal for a vacation home or rental property. This eliminates the cost and hassle of furnishing the home, saving the buyer time and money.
The Bad
• Cash-Only Requirement: The listing explicitly states "CASH ONLY," which significantly limits the pool of potential buyers. This often indicates underlying issues with the property that prevent traditional financing, such as structural problems, title issues, or unpermitted work.
• High Price per Square Foot: At $277.83 per square foot, the property is priced above the average for Newport, OR, which typically ranges from $200 to $250 per square foot for similar homes. This premium needs to be justified by the quality of the remodel and the oceanfront location.
• Limited Information on Utilities: The listing provides no information on utility costs, making it difficult for potential buyers to estimate monthly expenses. This lack of transparency is a negative point.
The Ugly
• High Estimated Insurance Costs: The estimated insurance cost of $2336.4 per year is significantly higher than the national average, indicating potential risks associated with coastal properties, such as storm damage or flooding, despite the minimal flood risk score.
• School Ratings: The local high school has a rating of 2/10, which is a major concern for families with school-aged children. This could negatively impact the property's resale value and appeal to this demographic.
• Air Quality Risk: The "SEVERE" air quality risk (7/10) and 8 bad air days per year are significant concerns. This could be due to various factors, including proximity to industrial areas, traffic pollution, or seasonal wildfires. Poor air quality can affect health and quality of life.
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 Turnkey Vacation Home: The property is sold fully furnished and recently remodeled, minimizing upfront effort and cost. Its oceanfront location and views make it ideal for vacation rentals or personal getaways.
• Cash Buyers Seeking a High-End Coastal Property: The property requires a cash purchase, which may appeal to buyers with significant liquid assets looking for a unique coastal home. The extensive remodel and high-quality finishes justify the price point for discerning buyers.
• Individuals Prioritizing Ocean Views and Beach Access: Located in the Agate Beach area, the property offers direct ocean views and easy beach access, which is a major draw for those seeking a coastal lifestyle.
Not For
• Buyers Requiring Financing: The "CASH ONLY" requirement immediately excludes buyers needing a mortgage. This limits the pool of potential buyers significantly.
• Families with School-Aged Children: The Newport High School has a rating of 2/10, which is significantly below the state average. Families prioritizing education might find this location unsuitable.
• Buyers Sensitive to Air Quality: The "SEVERE" air quality risk (7/10) and 8 bad air days per year may deter those with respiratory issues or environmental sensitivities.
Demographics
Area Median Income
$0
Property History
Price History
Ownership Timeline
$185,000Cash Purchase
Jun 16, 2023Melissa Sanchez, George SanchezAdrienne Hennessey
Warranty Deed
Standard Sale (Purchase/Resales)
$162,000Cash Purchase
Apr 20, 2021Robert Ward, Marilyn WardMelissa Sanchez, George Sanchez
Warranty Deed
Standard Sale (Purchase/Resales)
$55,000Financed
Apr 28, 2005Robert H Rowland, Joye C RowlandRobert Ward, Marilyn Ward
Warranty Deed
Standard Sale (Purchase/Resales)
Sunlight Analysis
Visualize how sunlight affects this property throughout the day and year.
Sunlight Analysis
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Schools
Nearby school quality by education level
Middle
5.0/10
AverageHigh
2.0/10
Below AverageFinancials
Monthly Costs
Market Rent (3 bed)
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$649,000
Price/sqft
$278
Layout
3 bd•2 ba
Days on market
95 daysat time of analysis
Stats in the Area
Based on 2 comparable properties nearby
Average Price
$125,000
419.2%
Your price is 419.2% above average
Median Price
$130,000
399.2%
Based on 2 recent sales
Price per Sq.Ft
N/A
No price per sq.ft data available
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 6225 N Coast Hwy Lot 106, Newport, OR 97365 | $120,000 | N/A | N/A | N/A | N/A | 11/28/2024 |
| 6225 N Coast Hwy Lot 120, Newport, OR 97465 | $130,000 | N/A | N/A | N/A | N/A | 8/25/2024 |
6225 N Coast Hwy Lot 106, Newport, OR 97365
Price: $120,000
Sq.Ft: N/A
Beds/Baths: N/A/N/A
$/Sq.Ft: N/A
Sale Date: 11/28/2024
6225 N Coast Hwy Lot 120, Newport, OR 97465
Price: $130,000
Sq.Ft: N/A
Beds/Baths: N/A/N/A
$/Sq.Ft: N/A
Sale Date: 8/25/2024
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