16300 NE State Highway 305 #69 · Suquamish, WA 98370

$100,000

3 bd · 2.0 ba · 1,432 sqft · Manufactured · 29 Days on market

Built 1976 Est $106k · 6% under

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +10.0/15.0
• Schools +5.4/10.0
• Livability +3.5/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Located on a desirable corner lot, this home offers 1,442 sqft, 3 bedrooms and 2 bathrooms in the sought-after 55+ Cedar Glen Manufactured Home Park, just minutes from Poulsbo. Inside, you’ll find a comfortable, light-filled layout with generous living spaces including a living room, family room, dining area, and additional eating space off the kitchen. Nearly the entire interior has been freshly painted, with newer laminate flooring adding a clean, updated feel throughout with plenty of natural light. Quality kitchen appliances are approximately 7 years old, and the hot water tank was replaced just 3 years ago. Enjoy outdoor living with a large covered deck perfect for your lounge fu

Key facts

• Large covered deck
• Built-in shelving
• Corner lot

Tags

• CORNER LOT
• LARGE COVERED DECK
• EXTRA-LONG COVERED CARPORT
• IMPRESSIVE STORAGE SHED
• BUILT-IN SHELVING
• FORCED-AIR HEAT

Property features AI

Finance

• Financial info: Land lease: $1,029; Listing terms: Cash or Conventional
• HOA & community: Located in Cedar Glen mobile home park; Senior community; Park amenities include clubhouse, common area, laundry, and RV parking; Pets allowed (cats and dogs; see remarks)

Exterior

• Parking: Carport; Uncovered parking; RV parking available in the park
• Utilities: Electric energy source; Public water; Electric water heater
• Home design: Manufactured double-wide home; Single-story (one level); Model: Sherwood Manor; Manufactured home park approved for sale; Mobile home remains; Tie down foundation
• Construction: Metal/vinyl construction materials; Composition roof; Built as a manufactured house
• Exterior features: Metal/vinyl exterior; Corner lot; Paved lot; Has view

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove/Range
• Bedrooms: 3 bedrooms
• Flooring: Laminate
• Bathrooms: 1 full bath; 1 three-quarter bath; 1 bathtub; 2 showers
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Water heater; Dining room; Kitchen with eating space; Living room; Utility room
• Laundry & utility: Washer; Dryer; Water heater located in laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#262 in WA) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A-, schools B+; Watch: cost of living C-, amenities F, commute F.
• North Kitsap School District (suburban): math 53% / reading 65% proficiency, ranked #54 of 291 in WA (top 19%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents flat; 265 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 1,294 units permitted in Kitsap County in 2024 (302 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Kitsap County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 0.7% rent growth), your $28k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 21y ago; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; list at $100k implies a 54% gain — meaningful room to come down on a strong offer.

Recommended offer $98,500 (1.5% below list)

Questions for the listing agent

1. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.78% ✓
• Cap rate: 24.40%
• Cash-on-cash: 64.65%
• DSCR: 3.88
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $105,968
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16300 NE State Highway 305 #10	0.00mi	2/2.0 (-1)	1,368 (-4%)	2mo	$170,000	$124	86
16300 State Highway 305 NE #22	0.07mi	3/2.0	1,344 (-6%)	3mo	$75,000	$56	84
16300 State Hwy 305 NE #75	0.00mi	2/2.0 (-1)	1,344 (-6%)	5mo	$40,000	$30	80
16300 State Hwy 305 NE #80	0.01mi	2/2.0 (-1)	1,344 (-6%)	11mo	$125,000	$93	75
16300 NE State Highway 305 #52	0.00mi	2/2.0 (-1)	1,400 (-2%)	21mo	$189,000	$135	73
16300 State Highway 305 NE #77	0.02mi	3/2.0	1,560 (+9%)	20mo	$75,000	$48	68
16300 NE State Hwy 305 #18	0.00mi	2/2.0 (-1)	1,260 (-12%)	10mo	$185,000	$147	67
16300 NE State Highway 305 #71	0.01mi	2/2.0 (-1)	1,276 (-11%)	12mo	$142,500	$112	66
16300 State Highway 305 #82	0.01mi	2/2.0 (-1)	1,288 (-10%)	20mo	$95,000	$74	61
16300 State Route 305 NE #78	0.08mi	2/2.0 (-1)	1,240 (-13%)	12mo	$79,900	$64	59
16300 State Highway 305 #28	0.01mi	2/2.0 (-1)	1,250 (-13%)	24mo	$50,000	$40	54
16300 State Highway 305 NE #11	0.00mi	2/1.0 (-1)	1,234 (-14%)	23mo	$42,000	$34	49

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.71% rent growth · sell at horizon

5-year hold

• IRR: 61.2%
• Equity multiple: 3.63×
• Total profit: $73,644
• Equity at exit: $14,910

10-year hold

• IRR: 65.0%
• Equity multiple: 6.84×
• Total profit: $163,432
• Equity at exit: $8,646

Cash invested: $28,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 28 Tenant-Leaning
• State Washington: 28 Tenant-Leaning · D+8
• County: — inherits STATE
• City: — inherits STATE

Just-cause statewide (2021); Seattle layers rent control restrictions + relocation assistance; very tenant-friendly.

Methodology + full state rankings →

ZIP-level market 98370

• Rents YoY: 0.7%
• Active inventory: 265
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $2,784 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,500/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$585
• Net cashflow: $1,509

Break-even live

Break-even rent $875

Max offer price $100,000

Occupancy floor 41%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4005 NE Kedros Dr Poulsbo, WA	3.0	2.0	1200	$2,850	$2.38	13d	1	1.40mi

Listing history 29 events

1. 2026-06-18
   days on market $100,000 Active 29 DOM
2. 2026-06-17
   days on market $100,000 Active 28 DOM
3. 2026-06-16
   days on market $100,000 Active 27 DOM
4. 2026-06-15
   days on market $100,000 Active 26 DOM
5. 2026-06-14
   days on market $100,000 Active 24 DOM
6. 2026-06-13
   days on market $100,000 Active 23 DOM
7. 2026-06-10
   days on market $100,000 Active 21 DOM
8. 2026-06-09
   days on market $100,000 Active 20 DOM
9. 2026-06-08
   days on market $100,000 Active 19 DOM
10. 2026-06-07
    pricedays on market $100,000 Active 18 DOM
11. 2026-06-02
    days on market $110,000 Active 13 DOM
12. 2026-06-01
    days on market $110,000 Active 12 DOM
13. 2026-05-31
    days on market $110,000 Active 11 DOM
14. 2026-05-30
    days on market $110,000 Active 10 DOM
15. 2026-05-20
    listed $110,000 Active
16. 2018-05-29
    soldstatus $65,000 Sold
17. 2018-05-09
    status Pending
18. 2018-05-05
    status Pending Inspection
19. 2018-05-02
    listed $65,000 Active
20. 2013-06-18
    historical
21. 2013-06-17
    soldstatus $38,000 Sold
22. 2013-06-03
    status Pending Inspection
23. 2013-05-17
    status Active
24. 2013-05-15
    status Pending
25. 2013-05-05
    status Pending Inspection
26. 2013-04-10
    listed $39,900 Active
27. 2005-09-06
    soldstatus $35,000
28. 2005-09-05
    historical
29. 2005-06-17
    listed $40,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥86°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 9 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,412
• − Mortgage interest: −$5,602
• − Property taxes: −$1,500
• − Insurance: −$500
• − Repairs & maintenance: −$2,673
• − Management: −$2,673
• − Depreciation: −$2,909
• Taxable income: $17,555
• Est. tax owed @ 24.0%: −$4,213
• After-tax cash flow: $13,889/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: North Kitsap School District
• NCES district ID: 5305760
• Math proficiency: 53% ▼ -1.00%
• Reading proficiency: 65% ▲ 1.00%
• Median HH income: $68,919
• Composite: 53.68/100
• National rank: #3092
• State rank: #54 of 291 in WA

Livability — Suquamish

• Score: 69/100
• State rank: #262
• US rank: #9023

Category grades

Amenities F Commute F Cost of living C- Crime B+ Employment A- Housing A+ Health & safety F User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Suquamish, WA
• County: Kitsap County · 243,099 people
• City population: 3,412
• Metro: Bremerton-Silverdale-Port Orchard, WA
• Population (ZIP): 33,655
• Household income: $116,756
• Rent vs Own: 24.5% rent · 75.5% own
• Severe rent burden: 904.0

Population outlook (Kitsap County) Hauer SSP2

• Today (2025): 277,525 people
• By 2030: 285,040 · +2.7%
• By 2040: 294,957 · +6.3%
• By 2050: 300,622 · +8.3%
• By 2075: 315,580 · +13.7%
• By 2100: 304,340 · +9.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Two or more races 11% Hispanic / Latino 9% Asian 3% Black 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 7% Italian 4% Slovak 3%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 93% English-only · Spanish 4% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Kitsap

• 2024 margin: Strong D (+20.9) · D 58.8% · R 37.9% · Other 3.3%
• 2008→2024 swing: +8.6pp toward D · 2008: 12.3pp · 2024: 20.9pp
• All cycles: 2024: D+20.9 2020: D+18.1 2016: D+11.6 2012: D+11.1 2008: D+12.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -342.47%
• Current HPI: 347.3427
• Rent YoY: ▲ 0.71%
• Metro: Bremerton-Silverdale-Port Orchard, WA
• State GDP YoY: ▲ 4.65%
• F500 in state: 22

Industry mix (Fortune 500 HQ in WA)

Industry	F500 HQs	Revenue
▸Retail	2	$269B
▸Technology / Retail	1	$638B
▸Technology	1	$245B
▸Telecommunications	1	$38B
▸Food / Beverage	1	$36B
▸Automotive / Trucks	1	$34B

Price history

+175.0% since first listed

15 events — show timeline

• 2026-05-20 Listed $110,000 NWMLS as Distributed by MLS Grid
• 2018-05-29 Sold (MLS) $65,000 NWMLS as Distributed by MLS Grid
• 2018-05-09 Pending — NWMLS as Distributed by MLS Grid
• 2018-05-05 Pending — NWMLS as Distributed by MLS Grid
• 2018-05-02 Listed $65,000 NWMLS as Distributed by MLS Grid
• 2013-06-18 Delisted — NWMLS as Distributed by MLS Grid
• 2013-06-17 Sold (MLS) $38,000 NWMLS as Distributed by MLS Grid
• 2013-06-03 Pending — NWMLS as Distributed by MLS Grid
• 2013-05-17 Relisted — NWMLS as Distributed by MLS Grid
• 2013-05-15 Pending — NWMLS as Distributed by MLS Grid
• 2013-05-05 Pending — NWMLS as Distributed by MLS Grid
• 2013-04-10 Listed $39,900 NWMLS as Distributed by MLS Grid
• 2005-09-06 Sold (MLS) $35,000 NWMLS as Distributed by MLS Grid
• 2005-09-05 Delisted — NWMLS as Distributed by MLS Grid
• 2005-06-17 Listed $40,000 NWMLS as Distributed by MLS Grid