Financing a Depoe Bay Rental: What Your DSCR Loan Packet Should Show

Jacob Mishalanie
Aug 21
8 min read

Updated: 15 hours ago

Empty gray-shingle Depoe Bay cottage exterior, no people

Depoe Bay's short-term rental market posted about $45,628 in typical annual revenue across 235 active listings over the trailing twelve months from August 2025 through July 2026, according to AirROI data. That is the number worth putting in front of a DSCR lender, not a number borrowed from a different coastal market. Hosts shopping for debt-service-coverage-ratio financing on a Depoe Bay property sometimes see comparable listings from Bodega Bay, California, where average revenue over the same window was $70,812 across 228 listings, and assume the two towns are close enough to blend together.

They aren't, and a lender who catches the substitution will send the file back. This guide breaks down what the Depoe Bay numbers actually say, why Bodega Bay belongs in a separate conversation, and what a lender packet should carry when a loan officer starts asking about seasonality, permits, and occupancy.

What Depoe Bay's DSCR Baseline Actually Is

The underwriting-year numbers are straightforward: $45,628 average revenue per listing, 235 active rentals, an average daily rate of $334, and 44.4 percent occupancy. Revenue per available night works out to $151. Year-over-year growth was a modest plus 2.2 percent, and active supply barely moved, up 0.0 percent, meaning the market added essentially no new competing listings during the period.

None of these figures is a purchase price or a coverage ratio on its own. A lender still has to run its own DSCR math against the specific property's projected rent and existing debt obligations. What this data provides is the market-level baseline: the revenue range a comparable Depoe Bay listing should realistically produce, and the occupancy pattern that determines how conservative a vacancy haircut should be.

Don't Import Bodega Bay's Numbers Into This Loan

It's tempting to lean on comparable-market data when a lender asks for more support, especially if a nearby coastal town posted stronger revenue. Bodega Bay, California is a legitimate short-term rental market in its own right, with roughly $70,812 in average annual revenue across 228 listings over the same window, but it sits in a different state, under a different permitting authority, and pulls a different kind of demand, Sonoma County wine-country tourism rather than central Oregon coast whale-watching traffic.

Blending the two into a single rent roll doesn't strengthen a DSCR application; it invites a lender to ask why the numbers don't match public market data for the subject property's actual location. Keep Depoe Bay's $45,628-on-235-listings figure as the file for this loan, and if Bodega Bay data is relevant to a separate property or a separate application, submit it separately with its own market documentation.

Two Towns, Two Deeds, Two Permit Files

Financing and licensing run on parallel tracks, and they don't cross town lines any more than the revenue data does. Depoe Bay's short-term rental registration and any associated fees are handled through City Hall at 570 SE Shell Avenue, Depoe Bay, OR 97341. As of this review, a specific 2026 STR permit fee wasn't posted as a confirmed dollar figure on the city's primary page, so hosts should call or check directly rather than estimate a number for a lender packet.

The same logic applies to transient occupancy tax registration, which in Oregon coastal towns is typically handled at the municipal level and tied to the specific property address, not the rental history a host may be bringing from a prior market. A lender packet built around a Depoe Bay property should reference the Depoe Bay deed, the Depoe Bay permit file, and the Depoe Bay tax registration, never a package assembled from documents tied to a different town.

Reading Year-Over-Year Growth Without Overselling It

Plus 2.2 percent year-over-year growth is real, but it's a single year of movement on a 235-listing sample, not a multi-year trend line. Active supply was essentially flat over the same period, which suggests the market isn't being flooded with new competing listings, but it also means the growth figure shouldn't be extrapolated into a three- or five-year revenue projection for underwriting purposes.

February remains the slowest month in the data, and January shows the weakest occupancy of the year. A conservative lender packet accounts for that seasonality explicitly, applying a vacancy haircut that reflects the actual low-season pattern rather than smoothing the whole year into an average that hides how thin winter bookings really are.

Visitor Traffic Explains Demand, Not Debt Service

Depoe Bay's draw for visitors is well established: the harbor itself, often cited as one of the smallest navigable harbors on the West Coast, along with the Whale Watching Center, the Depoe Bay Bridge, the tide-driven spouting horns along Highway 101, and nearby Rocky Creek bring steady coastal tourism traffic through town, particularly during summer and the gray whale migrations in winter and spring.

That tourism activity explains why guests book, but it isn't a line item a lender will accept as income. Visitor counts and points of interest are useful in a marketing narrative or an appraisal's market-demand section; they don't substitute for verified rental revenue, and a packet that leans on the town's popularity instead of the $45,628 baseline figure is missing the number that actually matters for coverage-ratio math.

What the 30-Night Minimum Listings Mean for Occupancy

Of the 235 listings in the sample, 147, or about 62.6 percent, are set with a 30-night minimum stay requirement. That's a meaningful share of the market, and it matters for how a lender should interpret occupancy: a longer minimum-stay policy changes booking patterns and can distort traditional occupancy calculations built around short-stay turnover.

Even so, the average stay length across the full sample is 4.1 nights, which means most of the actual booked activity is still happening on the shorter end, likely among listings without the 30-night restriction. A lender packet should note that the minimum-stay figure describes a listing setting, not filled inventory, it doesn't mean nearly two-thirds of the market is booked solid through the slow season.

Average Stay Length and Booking Lead Time

Guests are booking Depoe Bay stays an average of 4.1 nights, with reservations typically made about 65 days ahead of arrival. Most visitors are coming from Portland, followed by Eugene, both within a two- to three-hour drive, which fits the pattern of a coastal weekend and short-trip market rather than a long-haul destination.

On the operating side, professionally managed listings make up about 58.3 percent of the sample, and Superhost status covers roughly 50.6 percent of active listings. Pacific View Lodging is the single largest operator in the data, holding 32 listings. That level of professional management is worth noting in a lender packet as a sign of market maturity and consistent rate management, not as a substitute for the property-specific revenue figure.

What a Lender Packet Should Actually Contain

Pulling the pieces together, a Depoe Bay DSCR packet should carry this year's data specifically, the trailing-twelve-month window ending July 2026, not an older or projected figure, this town's numbers exclusively with no blended Bodega Bay or other-market comparables, the actual sample size behind the average ($45,628 across 235 listings), and a vacancy haircut that explicitly accounts for the February low season rather than an averaged annual occupancy figure.

It should also include the property's specific permit and registration status with the City of Depoe Bay, confirmed directly with City Hall rather than assumed from a general market fee. Hosts working with a loan officer unfamiliar with short-term rental underwriting may need to walk through why visitor traffic and tourism statistics support demand but don't belong in the debt-service calculation itself, that distinction is often the difference between a smooth approval and a packet that gets sent back for revision.

Frequently Asked Questions

What revenue figure should a Depoe Bay DSCR application start with?

Typical Depoe Bay listings earned about $45,628 over the trailing twelve months from August 2025 through July 2026, based on 235 active rentals tracked by AirROI. That figure, not a purchase-price assumption or a blended market average, is the starting point for a lender's revenue analysis.

Why shouldn't Bodega Bay's rental income be included in a Depoe Bay loan file?

Bodega Bay is a separate market in California with its own permitting authority, tourism drivers, and revenue profile, posting roughly $70,812 in average annual revenue across 228 listings over the same period. Blending its numbers into a Depoe Bay application misrepresents the subject property's actual market and can raise red flags with underwriting. Keep each town's figure on its own labeled line in any lender file.

Where does a host confirm Depoe Bay's short-term rental permit requirements?

Depoe Bay City Hall, at 570 SE Shell Avenue, Depoe Bay, OR 97341, handles short-term rental registration and transient occupancy tax questions. As of this review, a specific 2026 permit fee wasn't posted as a confirmed dollar amount on the city's main page, so hosts should confirm directly rather than estimate.

Is 2.2 percent year-over-year growth enough to build a multi-year projection?

Not on its own. That growth rate reflects a single year of change on a 235-listing sample, and active supply was essentially flat over the same period. It's useful context, but a lender packet should treat it as one data point, not a trend line, and still apply a seasonal vacancy haircut for the slow winter months.

Does Depoe Bay's tourism activity count as income for a DSCR calculation?

No. Attractions like the harbor, the Whale Watching Center, the Depoe Bay Bridge, and Rocky Creek explain why visitors come to town, which supports demand, but they aren't verifiable rental income. Debt-service coverage has to be based on actual or projected rental revenue, not visitor traffic or points of interest.

What does it mean that 147 listings set a 30-night minimum stay?

About 62.6 percent of the 235-listing sample requires a 30-night minimum booking, which changes how occupancy should be read for those units. It doesn't mean the market is fully booked through the off-season; the average stay across the whole sample is still 4.1 nights, showing most actual bookings are shorter-term.

How far in advance do guests typically book a Depoe Bay stay, and where do they come from?

Guests book roughly 65 days ahead of arrival on average, with a typical stay of 4.1 nights. Most visitors travel from Portland, followed by Eugene, consistent with Depoe Bay's role as a short-drive coastal getaway for Oregon's population centers rather than a long-haul destination.

What should the final DSCR lender packet include?

The current trailing-twelve-month revenue figure for Depoe Bay specifically, $45,628 across 235 listings, a vacancy allowance that reflects February's slow season, confirmed permit and registration status with Depoe Bay City Hall, and no blended data from other coastal markets. Keeping the packet market-specific is what keeps the underwriting file credible.

Work with Crest & Cove Creative

Depoe Bay's harbor and whale-watching draw explain why guests come, not why a listing actually books. The real numbers here are a $45,628 year on 235 listings and a slow February, not Bodega Bay's.

We help Depoe Bay hosts write listing copy around this market's actual seasonal pattern and 4.1-night average stay, not a borrowed coastal comparison. Send us your listing at crestcove.co or call (256) 998-7502.

Reach out at crestcove.co or (256) 998-7502.